To be sufficient under the Statute of Frauds, only original, handwritten signatures in ink
are considered acceptable.
Any state or local law that “directly and substantially” conflicts with valid federal law is
preempted under the Supremacy Clause.
If two people suffer similar injuries from the same negligent act, the law requires that
the damages they receive be equal.
The level of scrutiny in equal protection cases refers to how difficult it is for alleged
equal protection violations to be justified.
In order to come into existence, a limited liability company must file articles of
organization with the appropriate state office.
A Chapter 13 plan may not be modified.
Giving favorable shipping terms to one customer and not another is a form of direct
price discrimination that violates the Robinson-Patman Act.
A member of a member-managed limited liability company and a manager of a
manager-managed LLC owe a fiduciary duty of loyalty to the LLC.
The implied warranty of merchantability does not apply to food products to be
consumed off the premises of a restaurant.
A note is a long-term debt security with a maturity of thirty (30.) years or less.
The North American Free Trade Agreement was formed in 1992 with only three
nations.
Over one-half of the value of large companies in the United States is related to their
intangible property rights.
The most distinguishing feature of a joint tenancy is the co-owners’ right of
survivorship.
Under a shipment contract, the title passes to the buyer when the seller tenders delivery
of the goods at the specified destination.
If the sole general partner has withdrawn from the partnership and dissolution has
occurred, the courts must handle the “winding up” of the partnership affairs.
Article 3 of the Uniform Commercial Code (UCC) establishes certain warranties that
apply to the sale of goods.
The defendant bears the burden of proof to persuade the trier of fact of the merits of the
case.
The parties or subject matter of the contract usually cannot be implied if an item or a
service is unique or personal.
The World Court is the executive branch of the United Nations.
OSHA is empowered to inspect places of employment for health hazards and safety
violations.
A vertical restraint of trade occurs when two (2.) or more parties at different levels of
distribution enter into a contract, combination, or conspiracy to restrain trade.
Constructive fraud is sometimes categorized as gross negligence.
Under a sale or return contract, the seller is responsible for the destruction of goods in
the buyer’s possession.
An “easement in gross” occurs where the servient and dominant estates are adjacent.
A corporate director can be held individually liable for a crime the director committed
on behalf of the corporation, but cannot be held liable for crimes committed by his or
her subordinates.
Assume Tom hires Mike as an independent contractor ‘security guard” for his apartment
complex, but does not perform a background search, which would have revealed Mike’s
past ‘sexual predator” convictions. If Mike attacks Kathy, a tenant, Tom would not be
liable, since Mike is an independent contractor.
Agents are generally permitted to engage in undisclosed self-dealing with the principal.
The Uniform Commercial Code addresses contracts relating to leases, sales of good and
performance of services.
Legal actions to collect pre-petition debts are not ‘stayed” by the filing of a voluntary or
involuntary bankruptcy petition.
According to the moral minimum theory, a corporation that pollutes a body of water
and then compensates those affected by the pollution has met its moral minimum duty
of social responsibility.
The Civil Rights Act provides that a rejected applicant for a job or an employee who
suffers pay discrimination must file a discrimination lawsuit within three (3) years of
the employer’s act that causes the discrimination.
Article II, Section 2, Clause 2 of the United States Constitution states that the federal
judiciary ‘shall have the power, by and with the advice and consent of the Senate, to
make treaties, provided two-thirds of the senators present concur.”
The agent’s actions, not the principal’s, create an apparent agency.
An “estray” statute provides a method by which title may be cleared to mislaid or lost
property.
If properly created, a bailment can exist for either real or personal property.
Letters of credit are important instruments in international trade.