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If an agent exceeds his actual and apparent authority, the principal is not bound, which
makes the agent a party to the contract.
A friendly fire is one that is contained in its intended place such as a fireplace, stove, or
barbecue grill.
An easement is not considered to be real property.
One way of keeping a trade secret is to obtain a patent on it.
A reasonable person, as used in the law of torts, is a fictitious individual who is always
careful, prudent, and never negligent.
Clay that has been made into pottery is personal property.
Every registration filed with the SEC is held in confidence until the business permits
disclosure.
Robert paid William $1,000 for a rare first edition of an Edgar Allen Poe novel. The
sales contract states that the book is to be delivered within ten days. William, however,
refused to deliver the book as promised. In order to sue for the UCC remedy of specific
performance, Robert must prove that money damages will not be adequate
compensation for his loss.
Emancipated minors have no ability to avoid contracts based upon their minority.
Fire insurance policies vary from state to state in the United States.
Under Article 3 of the Code, collecting banks give to a transferee the same basic
warranties as those given by other parties who transfer commercial paper.
The Restatement and the UCC are both currently authoritative sources of contract law.
Some states hold landlords liable for injuries their tenants and others suffer as a result
of the foreseeable criminal conduct of third parties.
Is the negotiation of an instrument ever valid even though the transaction in which it
occurs is voidable or even void? Explain.
Unless otherwise agreed, a power given as security may not be revoked.
The usual means of enforcing an agreement prohibiting an employee from competing in
a described territory for a stated period of time is by injunction.
The person to whom an offer is made is an offeree.
Under the Code an oral contract for specially manufactured goods costing $500 is
enforceable even if the seller has not begun their manufacture.
