BLAW 10320

subject Type Homework Help
subject Pages 5
subject Words 604
subject Authors David P. Twomey, Marianne M. Jennings

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page-pf1
You plan to enter the export market with a new product that you have just developed.
You feel that the product has great promise, but you are confused over whether you are
required to obtain an export license. Further, your brother-in-law says that he knows
someone in the Japanese government who could greatly assist you in your endeavors
for a very modest fee. Discuss this situation.
A bilateral contract is essentially an exchange of promises.
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Mortgages, security interests, and surety relationships are legal mechanisms created
primarily to promote stability and flexibility in trade.
A civil nuisance may be terminated by abatement or closure by government authority,
while a criminal nuisance is not subject to such action.
An administrative agency is barred from examining the records of a business enterprise
by the constitutional guarantee against unreasonable searches and seizures.
The Securities and Exchange Commission (SEC) is not limited to litigation when a
securities law enforcement investigation runs into secrecy or blocking laws.
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Corporations are subject to a form of double taxation.
In the absence of an agreement for the extension of credit to the buyer for the purchase
of goods, and until the buyer pays for the goods or performs whatever actions the
contract requires, the seller has the right to retain possession of the goods.
Subject to certain limitations, a third person, on learning of the existence of an
undisclosed principal, may sue the principal.
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If a contract can be interpreted in two ways, one legal and the other illegal, the court
will assume that the legal meaning was intended unless the contrary is clearly indicated.
The United Nations Conventions on Contracts for the International Sale of Goods
(CISG) sets forth uniform rules to govern international sales contracts.
Ethical egoism believes that feeling guilty about poor ethical decisions will lead to
better future decisions.
A drawee on a draft has no responsibility under the draft until it has accepted that
instrument.
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A factor is a consignee.
A merchant has greater potential warranty liability than does a casual seller.

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