BLAW 25975

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A contract is an agreement that can be enforced in court.
Under the UETA, a contract is unenforceable if it is solely in electronic form.
A seller has an insurable interest in goods as long as he or she retains title to the goods.
Federal administrative agencies can regulate beyond the powers granted by enabling
legislation.
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The Environmental Protection Agency periodically updates the air pollution standards.
State laws are the supreme law of the United States.
Misrepresentation of a material fact is an element of fraud.
If a buyer wrongfully refuses to accept goods that conform to a contract, the seller can
recover damages.
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Special damages are awarded for damage caused by special circumstances beyond a
contract.
The assignment of the same contract right to two different parties automatically cancels
both assignments.
Lenders can require balloon payments for loans with terms of five years or less.
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In defense against payment, an insurance company can raise any of the defenses that
would be valid in an ordinary action on a contract.
If a contract does not require that performance be rendered directly to a third party, the
third party is an intended beneficiary.
Persons whose names appear in a corporation's stock book are ordinarily entitled to
notice of shareholders' meetings and the right to vote.
A law that limits the liberty of all persons may violate substantive due process.

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