Employment testing and educational requirements must be “job-related”; that is,
employers must prove that employment testing and educational requirements bear a
relationship to job performance.
Suretyship is governed by the UCC.
New York follows the “contact” rule in determining when third persons can sue
accountants for negligence.
It is necessary that a third-party beneficiary be identified by name.
Civil (noncriminal) wrongs, including breaches of contract, are governed by tort law.
The Securities Act of 1933 deals with the original distribution of securities by the
issuing corporations.
Courts are quick to invalidate contracts on the ground that they are contrary to public
policy because such contracts are so offensive to society.
An agreement is not too indefinite to be binding if a standard or formula is provided by
which variable factors can be determined.
Civil disobedience is the remedy natural law proponents use to change positive law.
Consumer protection laws, which commonly regulate the form of consumer contracts,
provide that back-page disclaimers are void if the front page of a contract does not call
attention to the presence of the terms on the back page.
Franchising is basically contractual in nature.
Bart owned 100 shares of a stock that was actively traded on a national stock exchange.
Bart wanted to sell the shares but felt that his profit would be seriously diminished by
selling through a broker and paying the customary brokerage commission. Bart offered
the 100 shares to any of a group of six people in a conversation at a party. The offered
price was $750 per share, the price at which the shares had closed that day. No one
really responded to the offer at that time. Ten days later when the shares were trading at
$76.25, Marie, one of the offerees at the party, appeared at Bart’s office saying that she
accepted the offer. Bart claimed the offer no longer was available. Evaluate the legal
outcome of this dispute.
Aliota and Blake are partners. Aliota contributed 75 percent of the firm’s capital and
Blake contributed 25 percent. Aliota has a controlling interest in the management of the
firm.
Within the area in which the administrative agency is authorized to make decisions, the
agency can be regarded as a specialized court or court of limited jurisdiction.
A creditor of an individual partner cannot proceed against any specific items of
partnership property, but can obtain a charging order against that partner’s interest in the
partnership.
As an owner of the corporation, a shareholder has the right to inspect the books of the
corporation for any purpose, regardless of whether the inspection is related to the
shareholder’s interest as a shareholder.
If the tenant uses the property for any purpose other than the one specified in the lease,
the landlord has the option to declare the lease terminated.
A prospectus sets forth the key information contained in the registration statement.
The measure of monetary damages when there has been a breach of contract is the sum
of money that will place the injured party in the same position that would have been
attained if the contract had been performed.
Arnold was the sole shareholder, president, and chief executive officer of Algernon
Enterprises, Inc. Acting on behalf of Algernon, Arnold negotiated the credit purchase of
inventory from Amax. The contract was signed in the name of Algernon Enterprises.
Algernon never paid the sums due on the contract, and Arnold and the corporation were
sued. Is Arnold personally liable to Amax?