All forms of gambling are legal in all states.
Joint venturers have the authority to enter into contracts for the business that will bind
the joint venture.
A covenant not to sue does not always bar further recovery.
Before filing a registration statement, an issuer must offer to sell securities.
A director can be elected by the other members of the board.
A circular letter”Dear Mr. or Ms. Jones, This is our biggest sale ever!”is not evidence of
an intent to enter into a contract.
National Drilling Company ships its only pump to American Hydraulics Corporation,
the manufacturer, for repair. National hires Overland Transport, Inc., to take the pump
to American Hydraulics and to return it to National as soon as the repair is complete.
National is forced to suspend operations without a pump, but Overland does not know
this. National expects to be without the pump for five days and to lose profits of $5,000.
When the pump is not returned by the end of the fifth day, National rents a pump at a
cost of $100 per day. Overland delays five more days before returning the pump.
National files a suit against Overland, asking for compensatory, consequential, and
punitive damages. Will National recover?
The measure of damages for the breach of a contract for a sale of land depends on
which party breaches and when.
Entrusting goods to a merchant who deals in goods of the kind gives the merchant the
power to transfer all rights to a buyer in the ordinary course of business.
The Environmental Protection Agency has concluded that greenhouse gases, including
carbon dioxide emissions, do not constitute a public danger.
A contract is discharged when a change in the law renders the performance illegal.
A limited liability company can be taxed as a corporation.
The First Amendment protects defamatory speech.
All that a delegator needs to do to make a delegation effective is to express an intention
to make the delegation.
A board of directors can delegate some functions to corporate officers.