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Fire insurance is a personal contract, and in the absence of statutory or contractual
authorization, it can be assigned without the consent of the insurer.
The Litigation Reform Act of 1995 provides for joint and several liability for
defendants who are found not to have knowingly committed a violation of the security
laws.
Labels on packages are regulated to provide information about the contents and
warnings about the dangers involved in the use of the product.
In most states contracts of guaranty do not have to be in writing to be enforceable.
A bank is not required to pay a check presented more than six months after its date.
A security interest needs to be perfected, whether or not there are competing claims for
the collateral.
If a contract appears to be legal on its face, it will be enforceable even if it was entered
into for an illegal purpose.
A contract never can be both executory and unilateral.
In 1976 the Federal Trade Commission adopted a rule that expands the rights of a
holder in due course in a consumer credit transaction.
The Export-Import Bank (EX-IM Bank) is an international agency.
Vacarro gave her son Mark a car on the day Mark left for college. Vacarro told Mark
that she expected him to use the car for school purposes and to earn good grades. Mark
flunked out of college in his second semester. Vacarro sued to regain title to the car on
the ground that the gift was conditional on Mark's earning good grades and remaining
in college. Will Vacarro win the case?
The contributory negligence of the client does not reduce the liability of an accountant
who is liable for malpractice.
Courts are quick to invalidate contracts on the ground that they are contrary to public
policy because such contracts are so offensive to society.
Individuals and corporations, but not partnerships, may be reorganized under the
Bankruptcy Code.
An indorsement "Pay to Donald Hames, Cathy Dukes" is not a valid indorsement
because it does not contain the words "order" or "bearer."
Any modification of a sales contract must be supported by some form of consideration.
A blank indorsement indicates the person to whom the instrument is to be paid-that is,
the transferee.
