Ethical reasoning is the process through which an individual rationalizes whatever
action he or she chooses to take.
Dumping is the sale of imported goods at “greater than fair value.
In most states, the courts no longer grant “equitable remedies.
On default, unless the security agreement states otherwise, the secured party has the
right to repossess collateral.
A courts direction to a party to do or to refrain from doing a particular act is a
rescission.
A buyer may reject a sellers goods under any circumstances.
A syndicate may exist in the form of a partnership but not a corporation.
An act must have a substantial impact on interstate commerce to violate antitrust law.
Expression of all kinds is subject to reasonable restrictions.
Proximate cause exists when the connection between an act and an injury is strong
enough to justify imposing liability.
If the proceeds of a foreclosure sale cover the costs and the mortgage debt, any surplus
is a windfall to the creditor.
Identity theft occurs when a wrongdoer steals anothers form of identification.
A party who unintentionally uses the trademark of another is not liable for trademark
infringement.
A seller can terminate a contract on the basis of commercial impracticability if increases
in the sellers costs threaten to undercut its profits.
A principal owes an agent a duty of accounting.
During a storm on Blue Lake, a boat sinks, but its owner Cappy survives. Cappy plans
to return to the site of wreck to salvage its equipment and his possessions, but he
delays. Meanwhile, Dick, an amateur diver, discovers the wreck and strips it clean of
useful items. Cappy learns of the recovery and files a suit against Dick, claiming that
the items are his. Dick responds that the sunken boat was abandoned and therefore he
has good title to everything to which he took possession. What is the court likely to
rule, and why?
The possession of monopoly power constitutes the offense of monopolization.
An e-contract must meet the same basic requirements as a paper contract.