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Sandy may be charged a fee, but will not face criminal penalties for writing checks on
an account with insufficient funds to pay them.
Mark and Cynthia work for Bryson Supply Co. If the company files for Chapter 7
bankruptcy before paying their last month of wages and benefits, will they be able to
recover anything from the company?
One purpose of contract law is to make business matters more predictable.
ACME, Inc. is a software producer that entered into a verbal agreement with XYZ
Corporation wherein XYZ agreed to buy ACME's newly developed software. The
agreement also provided that ACME would supply training personnel, as well as
technical personnel, to work with XYZ employees in installing and learning the
software. What law governs this agreement?
Generally, the assignment of the obligation to perform personal services is valid, as
long as the services are equivalent in value.
The doctrine of contributory negligence is followed in most states.
The 1933 Act prohibits fraud only in transactions involving registered securities.
Trisha loaned Brian $600 evidenced by a promissory note. When Brian paid off the
loan, he did not ask Trisha for the note. She sold it to Carin, a holder in due course.
Brian does not have to pay Carin since he already paid Trisha the full $600.
Contracts for the sale of fabric, automobiles, computers, furniture, and paper clips
would all be governed by Article 2 of the Uniform Commercial Code.
The doctrine of stare decisis, though vital to the creation of the common law when this
country was settled, is not important to our modern, complex society.
Terminating a corporation is a three-step process: dissolution, winding up, and
termination.
A tort is a violation of a duty imposed by the civil law.
Filings are required to form and operate a limited liability partnership.
Teresa is suing her accountant for fraud. To win, Teresa must show that she justifiably
relied on the accountants fraudulent statement.
Rick and Allan want to start a union in the small factory where they work. Outline the
basic procedures they will need to follow to get a union recognized as the exclusive
bargaining unit for the company employees.
