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Under the doctrine of promissory estoppel, a promise will not be enforced unless it is
supported by consideration.
Once the time for performance under the contract has expired, the seller or lessor can
never exercise the right to cure.
A preemptive right is a preference over other shareholders to cast the determining vote
on fundamental changes affecting the corporation.
A seller does not have to provide a written warranty for consumer goods.
The implied warranty of habitability does not apply to substantial physical defects that a
landlord has had a reasonable time to repair.
The verdict in a summary jury trial is binding.
State regulation, when not preempted, may cover many of the same activities as federal
regulation.
A corporation has an implied power to extend credit to those with whom it has a legal
or contractual relationship.
There are twelve justices on the United States Supreme Court.
An instrument "payable to bearer" is transferable but not negotiable.
In a sole proprietorship, the proprietor shares the burden of any losses or liabilities
incurred by the business enterprise with the government.
A motion for a new trial will be granted only if a constitutional issue is involved.
Any collateral promise falls outside the Statute of Frauds and does not need to be in
writing to be enforceable.
In sales law, product liability is assurance by one party of the existence of a fact on
which the other party can rely.
In a repayment plan case, the plan must provide for payment of all obligations in full,
not for a lesser amount.
A joint tenant's sale of his or her interest terminates the joint tenancy.
For a party to take by adverse possession, the party's possession must not be open,
visible, or notorious.
Generally, an accountant must exercise the degree of care that an ordinarily prudent
accountant would exercise.
