A buyer who accepts nonconforming goods cannot revoke the acceptance.
Under the UCC, the validity of a contract depends on its price term.
A promise to do something that one has a prior legal duty to do is not consideration.
The only requirement of a valid contract is that it be voluntarily entered into.
An agreement is evidenced by a single event: an offer.
Business ethics is consistent only with short-run profit maximization.
Law is a body of enforceable rules governing relationships among individuals and
between individuals and their society.
Worldwide Trucking Corporation files a suit in a state court against XL Service
Company, and wins. XL appeals the court’s decision, asserting that the evidence
presented at trial to support Worldwide’s claim was such that no reasonable jury could
have found for the plaintiff. Therefore, argues XL, the appellate court should reverse
the trial court’s decision. May an appellate court ever reverse a trial court’s findings
with respect to questions of fact?
The courts determine when the laws restricting free speech are justified by the need to
protect other rights.
A federal case typically originates in a state court.
The simplest form of business is a sole proprietorship.
Merchants are required to warrant that the goods they sell are fit for their ordinary
purpose.
Waterfront Hotels Corporation in Boston offers a job to Carol, who lives in Denver.
Carol orally agrees to work for Waterfront for two years. She moves her family to
Boston and begins work. Three months later, she is fired for no stated cause. She files a
suit against the employer for reinstatement or pay. Waterfront pleads the lack of a
written contract. In whose favor is the court likely to rule, and why?
The crime of theft does not require that the perpetrator know whatever is taken
belonged to another.
Some states provide that in the absence of an agreement to the contrary each member of
a limited liability company has one vote.
Corporate stocks are an example of property that does not come under UCC Article
The articles of incorporation serve as a primary source of authority for a corporation.