A limited liability company has less legal flexibility than a corporation.
Some states require franchisors to provide presale disclosures to prospective
franchisees.
When a buyer breaches a contract, the risk of loss remains with the seller.
An undisclosed principal is not liable to a third party for a contract made by an agent.
Colby contracts in writing to sell his 2005 Dodge-brand pick-up truck to Efrem for
$10,500. Colby agrees to deliver the truck on Friday, and Efrem promises to pay the
$10,500 on the following Monday. On Thursday, Efrem tells Colby that he changed his
mind and will not buy the truck. Over the weekend, Efrem changes his mind again and
tenders $10,500 to Colby on Monday. Colby has not sold the truck to another party but
refuses the tender and refuses to deliver. Efrem claims that Colby has breached their
contract. Colby contends that Efrems repudiation released him from his duty to perform
under the contract. Who is correct, and why?
Where or how to perfect a security interest sometimes depends on the classification of
collateral.
Most states permit a nuncupative will if it is made before witnesses.
A justiciable controversy is a case in which the courts decisionthe “justice that will be
servedwill be controversial.
Either party can appeal a judges ruling on any pretrial motion.
Employers can consider mitigating measures or medications when determining if an
individual has a disability that fits the definition in the Americans with Disabilities Act
of 1990.
An instrument that promises to pay “in goods can be negotiable.
Job Service, Inc., needs funds to meet its payroll, to make other current operating
expenses, and to pay its creditors. Kelly, Job Services only shareholder, loans the
company $10,000 and accepts a promissory note signed on behalf of Job Service by
Luna, the firms accountant. Job Services financial problems continue, however, and the
firms creditors file an involuntary petition to force it into bankruptcy. Is Kelly entitled
to repayment of the loan to Job Service? If so, what is the priority of the claim?
In effect, negligent misrepresentation is treated as fraudulent misrepresentation.
Payment of the principal obligation will not discharge the guarantor from the
obligation.
Eminent domain is the right of an owner in fee simple absolute to use property to
whomever he or she wishes.
Most lawsuits are settled or dismissed before they go to trial.
Fix-It Auto Company contracts to sell a car to Garth for $3,500. Garth gives Fix-It a
worthless check for the price. Garth assigns his right to the car to Herb. If Fix-It refuses
to deliver the car to Herb and Herb sues, can Fix-It raise Garths fraud as a defense
against delivery of the car to Herb? Explain.
A party who confers a benefit on someone else unnecessarily can invoke the principle
of quasi contract to recover the cost.
An agent is required to notify the principal of all matters concerning the subject matter
of the agency.