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ERISA provides for immediate vesting of each employee's own contributions to a
pension plan.
In a guaranty arrangement, the guarantor is primarily liable on another person's debt.
Adhering to the Bible is a form of ethical fundamentalism.
Owners share ownership in commingled goods in proportion to the amount of goods
contributed by each owner.
A contract can be assigned even if the assignment would materially alter the risk or
duties of the obligor.
When a contract includes an interest rate that exceeds the maximum rate that can be
charged, all states will allow interest at the maximum legal rate to be collected.
Buyer has ordered 100 cases of scotch. If the seller delivers 99 cases of scotch and one
case of bourbon, the buyer may reject the entire shipment and send it all back.
To satisfy the Statute of Frauds requirement, the writing must be sufficient to indicate
that a contract has been made between the parties.
The "fair use" doctrine allows limited public use of copyrighted material without the
permission of the copyright holder.
Most franchise agreements permit a franchisor to terminate the franchise for cause.
In a criminal lawsuit, a private party is the plaintiff.
The Federal Workers' Compensation law preempts state law whenever they conflict.
A certificate of deposit is a two-party instrument.
The Food and Drug Administration's definition of cosmetics includes substances and
preparations for cleansing, altering the appearance of, and promoting the attractiveness
of a person.
A group boycott occurs when two (2.) or more competitors at one level of distribution
agree not to deal with others at a different level of distribution.
The highest form of land ownership is "fee simple defeasible."
Bank checks are usually considered "as good as cash" because the bank is solely or
primarily liable for payment.
A writ of garnishment orders the sheriff to seize property in the possession of the
breaching party and sell the property at auction to satisfy the judgment.
Twenty-three (23.) states currently recognize "no-fault" divorce.
Limited partners do not have the right to vote on the removal of a general partner.
When parties enter into a contract, they can agree that the performance of one of the
parties should be rendered to or directly benefit a third party. Under such circumstances,
the third party is called an incidental third-party beneficiary.
If, in accepting an offer a non-merchant seller includes additional terms, those
additional terms become part of the contract.
A liquidation bankruptcy is also known as straight bankruptcy.
The executive and legislative branches of the federal government are each empowered
to create administrative agencies.
An anti-assignment clause is a clause that prohibits the assignment of rights under
contracts.
The Americans with Disabilities Act does not apply to alterations of existing buildings.
If an offer is made individually to two (2.) or more persons, each has the power to
accept the offer.
The sale of stock is covered by Article 2 of the UCC.
The concept of standing requires that the plaintiff have a stake in the outcome of the
case that is filed.
With a certified check, the certification expires when the check becomes stale.
The universal duties under Kantian ethics were agreed upon, with some modification,
shortly after being proposed by Kant.
Implied authority is the authority that the third party may reasonably assume the agent
possesses.
