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One of the most appealing features of a limited partnership is the limited personal
liability it offers to limited partners.
Sandy's private secretary promises to keep the contents of a letter she typed secret if
Sandy will give her the next day off with pay. If the secretary takes the day off, Sandy
has to pay her for the day.
Despite Section 402A's bar of contributory negligence in strict liability cases, some
courts apply comparative negligence to strict liability cases.
The buyer and seller of goods may not simultaneously hold insurable interests in the
goods.
If an agreement is not voluntary and knowing, it will be either void or voidable.
Management can be offered shares of the corporation at favorable prices if other
shareholders are excluded from that offer.
The Second and Third Restatements are the same regarding when an agent's apparent
authority ceases.
The Federal Trade Commission enforces antitrust legislation.
Tom's dog has bitten three mailmen, but Tom can't bear to chain him up. When the dog
bites the newspaper delivery person, Tom will be strictly liable.
If a seller withholds delivery of goods to the buyer because of the buyer's failure to
make timely payment, the seller may resell the goods and is accountable to the original
buyer for any profit made on the resale.
In order to be sufficient, an agreement required to be written under the statute of frauds
must be signed at the bottom and notarized.
The Federal Trade Commission can act like a judicial body in conducting hearings and
issuing orders to cease and desist.
It remains unclear under the law whether a limited partner has a fiduciary duty to his
general partners or to the limited partnership.
The Code addresses the battle of the forms problem by focusing on the intent of the
parties.
Define incidental damages and give an example.
