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An undated instrument is not negotiable.
When the parties to a contract agree that its performance should directly benefit a third
person, the third person is an intended third party beneficiary.
Restitution involves one partys recapture of a benefit through which another party has
been unjustly enriched.
Quotas are limits on the amounts of goods that can be imported.
The UCC imposes special business standards on casual and inexperienced sellers and
buyers.
The officers and other employees of each corporation involved must approve a merger.
Linear reasoning proceeds from one point to another with the focal point being the
conclusion.
A director or officer is not liable to the corporation for a bad business decision.
Stock buybacks are illegal and serve no legitimate purposes.
For five years, baby-food makers Baby-One Corporation and Baby-B-Mine, Inc., both
use the phrase "Tastes Good on their labels. Baby-One files a suit against Baby-B-Mine,
claiming trademark infringement. Baby-B-Mine argues that the phrase is not generally
associated with any particular firm, pointing to other companies that use the same
phrase on their labels. In whose favor is the court most likely to rule, and why?
Downspout Drainage Company hires Earl to design a Web page for Downspout for
$400. Before the project is started, Downspout asks Earl to trouble-shoot Downspouts
computer operating system software for an additional $400. Earl agrees. The entire
contract is oral. Earl completes the work, but Downspout refuses to pay. Earl files a suit
against Downspout, which raises the Statute of Frauds as a defense. Can Earl recover
from Downspout? If so, how much, and on what basis?
Certain liquidation cases may be converted to repayment plan cases with the consent of
the debtor.
In many states, an operating agreement is not required for a limited liability company to
exist.
Ethical reasoning is the process through which an individual rationalizes whatever
action he or she chooses to take.
When a corporation earns profits, it must distribute them to shareholders.
The dishonor of an instrument relieves secondary parties of liability.
Employers can require or cause employees, but not job applicants, to take lie-detector
tests.
For a plaintiff to recover damages under Section 10(b) of the Securities Exchange Act
of 1934 and SEC Rule 10b-5, privity is necessary.
Parents are required by law to provide necessaries for their minor children.
Sophie is the president of Tasty Foods Corporation, a wholesale grocery company. An
inspection by Uri, a government agent, uncovers unsanitary conditions caused by Vic, a
Tasty Foods employee, in the companys warehouse. Will, a Tasty Foods vice president,
assures Uri that the situation will be corrected, but a later inspection reveals no such
corrections. Sophie knows nothing about any of this. Can Tasty Foods be convicted of a
crime in these circumstances? Can Sophie be held personally liable?
