An auction”we ask you to bid on this itemis an offer.
Only two persons can hold property as tenants in common.
Some U.S. bribery laws are directed toward accountants.
A corporation cannot refuse a shareholders request to inspect corporate records.
In a contract for a sale of goods, the usual measure of compensatory damages is the
difference between the contract price and the market price.
Home equity is the portion of a homes value that is “paid off.
A bargained-for exchange is one of the elements of consideration.
A bailment must be in writing to be valid.
Cody signs and returns a letter from Dora, referring to Doras Double-D Ranch and its
price. When Cody attempts to complete the deal, Dora refuses, claiming that they have
no contract. Cody claims they do. What standard determines whether these parties have
a contract?
A business firm’s profits may suffer if the firm is not a “good corporate citizen.
As with partnerships, a court can order a limited liability company to dissolve in certain
circumstances.
A contract may include a clause stating that no damages can be recovered for a certain
type of breach.
Hoppy steals two checks from Eagle Retail Stores, Inc.: a blank check and a check
payable to the order of General Supplies Company (GSC), drawn on Eagles account
with First National Bank. Hoppy forges Eagles signature on the blank check and makes
it payable to himself. Hoppy forges GSCs indorsement on the back of the check payable
to GSC, and adds “Pay to the order of Hoppy. At Friendly Credit, Inc., Hoppy indorses
the back of both checks with his own name and gives them to Friendly for cash.
Friendly does not know about the theft or the forged signatures and presents the checks
to First National, which pays them. Eagle, which was not negligent, discovers the
forgeries and asks First National to recredit its account. Who suffers the loss on each
check?
A sole proprietor has unlimited liability for all obligations that arise in doing business.
In most states, the courts no longer grant “equitable remedies.
In contracts involving a carrier, a seller can complete performance only through a
shipment contract.
There are no exceptions to the rule that contracts voluntarily entered into will be
enforced.
A promise to pay for an act that has already occurred is enforceable because the event is
certain.