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Bankruptcy relief is provided under state law.
"Consideration refers to the legality of the subject matter of a contract.
Certificate-of-title statutes establish perfection requirements for security interest in
certain types of goods.
When dissolution takes place by voluntary action, the shareholders are responsible for
winding up the affairs of the corporation.
A kickback for a special favor or service is not considered a bribe.
Mouth-Waterin Eats Company wants to sell its candy in a normal-sized package labeled
"Gigantic Size. NuFabrics, Inc., wants to advertise its sweaters as having "That Wool
Feel, but does not want to specify on labels that the sweaters are 100 percent polyester.
What stops these firms from marketing their products as they would like?
A sole proprietorship lacks continuity on the death of the proprietor.
Trade secrets should not be disclosed to a venture capitalist without a confidentiality
agreement.
A partially disclosed principal is liable to a third party for a contract made by the agent
acting within the scope of his or her authority.
General descriptions take precedence over inconsistent samples.
Companies may require employees who have access to trade secrets to agree in their
employment contracts never to divulge those secrets.
A worker engaged in an occupation or business distinct from that of an employer points
to independent-contractor status.
An ethics program can clarify what a company considers to be unacceptable conduct.
A franchisors decision to terminate a franchise may be made in the normal course of
business operations.
An authorized agent is never personally liable on a negotiable instrument.
A principal who authorizes an agent to commit a tort is not liable to persons or property
injured thereby.
A written contract that cannot, by its own terms, be performed within one year from the
day after its formation is enforceable.
A large business must provide notice before closing a plant that employs a certain
number of workers.
