The major advantage to investors in a corporation stems from the fact that their risk of
loss is limited to the amount of their investment.
The jurisdictional rule of reason addresses the problems that arise when a foreign
country has a significant interest in regulating conduct taking place within the United
States.
In terms of defamation liability, members of the United States Congress enjoy an
absolute privilege when they are speaking on the floor of the Senate or the House of
Representatives.
Ordinarily, the management of a corporation is not liable to third persons if the
managerial policies cause loss to such third persons.
Quickness Computer, Inc. is a manufacturer of computers. A Hollywood star indicated
on national television that Quickness was his favorite computer. Buoyed by this
comment, sales of Quickness computers surged. Since demand outpaced supply,
Quickness decided to sell no more computers unless an accompanying software
package was purchased. A competitor informed the Office of the Attorney General of
this policy, asserting it was illegal. Decide.
An agreement cannot be enforced if it does not set forth every contractual detail.
Price discrimination is not permitted even when it can be justified on the basis of a
difference in grade, quality, or quantity.
If an offer is indefinite or vague, no contract arises from an attempt to accept it.
Whenever a person receives a benefit for which payment has not been made, there is an
unjust enrichment and the value of such benefit must be paid to the person conferring
the benefit.
Consequential damages are available to the buyer but not to the seller.
If the parties involved agree that personal property will be considered a fixture, it will
be deemed to be a fixture without the application of legal tests.
A buyer can be barred from claiming a breach if the sales contract expressly states that
the buyer will not assert any defenses against the seller.
Proof of substantial impairment of the value of a contract to the buyer is required to
justify revocation of acceptance.
Statutes sometimes provide that shareholders shall have unlimited liability for the wage
claims of corporate employees.
An authorized agent signing an instrument will not be liable on the instrument if the
agent discloses on the paper either the identity of the principal or the fact that the agent
has signed in a representative capacity.