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If an agent commits a crime, the agent's liability will depend on the agency relationship.
If a restrictive covenant is valid, it binds only the original grantee in the deed that
created the covenant.
Under the Berne Convention Implementation Act of 1988, it is no longer mandatory
that works published after March 1, 1989 contain a notice of copyright.
A firm offer is effective only if the merchant receives consideration to keep the offer
open.
To establish impossibility a party must show (1) the unexpected occurrence of an
intervening act; (2) that the risk of the unexpected occurrence was not allocated by
agreement or custom; and (3) that the occurrence made performance impossible.
A person cannot become a holder through a holder in due course unless that person
satisfies the requirements for holder in due course status.
The liability of an agent to a third person depends on the existence of authority and the
manner of executing the contract.
In a simple contract made by an authorized agent on behalf of a disclosed principal, the
third person may sue either the agent or the principal in the event of a breach.
One promise may serve as consideration for many return promises.
Employers are required to give notice to employees that they will monitor their
employees' e-mail.
A buyer who breaches a contract after making a down payment generally will be
subject to the rule that the seller may retain the full down payment as damages.
Mark Hubbard has been very successful in the cattle business over a number of years.
Hubbard has decided to establish a cattle program as an investment tool. He will
purchase cattle with investors' money and then provide medical care, feed, and
transportation on a service contract basis. The profits then will be divided
proportionately among the investors. An investment company, Money Ventures, Inc., is
interested in the entire offering of Hubbard's cattle program. Hubbard is unsure as to
whether the securities acts apply to him. In addition, he wonders whether his venture, as
structured, is exempt if the activity is within the securities acts. Should Hubbard be
concerned?
Any disclaimer by an accountant that excludes liability for malpractice based on
negligence is void.
Federal law now recognizes the validity of electronic signatures.
The use of someone's car without that person's permission is a trespass to personal
property.
Horseco, a new business, purchased ten thoroughbred horses for racing and breeding
purposes. It hired John, an accountant, to prepare financial projections of anticipated
future earnings for the first five (5) years of the new business. The information provided
to John as the basis for the projections included assumptions made by Horseco about
anticipated earnings from racing and breeding. The assumptions were based on
Horseco's experience and were not based on objective standards that could be examined
by John. John included with the projections a disclaimer that stated that the income
projections were based on assumptions provided by Horseco and that John assumed no
personal responsibility for the accuracy of those projections. Subsequently, the Larson
Company purchased a fifty (50) percent interest in Horseco, and when Horseco's
income did not match the projections, Larson sued John for accounting malpractice.
How will the court decide?
