An offer to form a unilateral contract is accepted by a promise to perform.
A substantive law creates or defines legal rights and obligations.
The perfection of a security interest will always protect a secured party against other
third parties having claims to the collateral.
Negotiation is a transfer in such form that the transferee becomes a holder.
A hotel owner is always strictly liable for the safety of a guests automobile.
A written contract for a transfer of land is enforceable.
When an agreement is ambiguous as go whether it is a shipment or a destination
contract, courts will normally presume that it is a destination contract.
Every portion of every meeting of a federal administrative agency does not have to be
open to public observation.
A transaction that lacks a bargained-for exchange lacks an element of consideration.
An individuals right to privacy includes the exclusive use of his or her likeness.
A federal case typically originates in a state court.
A perfected purchase-money security interest in inventory can have priority over a
conflicting security interest in the same inventory.
City Bank mistakenly transfers $1,000 from the account of Donna, its customer, to the
account of Earl in First Federal Bank. The transfer is done electronically. When City
Bank learns of the mistake, it credits Donnas account and asks First Federal to “return
$1,000. First Federal refuses. City Bank files a suit against First Federal, claiming that
it is in violation of the Electronic Fund Transfer Act. How might the court rule?
To be negotiable, an instrument must not be on material that lends itself to permanence.
Credit can be denied solely on the basis of national origin.