A buyer has an insurable interest in identified goods.
Article 2 of the UCC governs contracts for sales of goods.
Under the Statute of Frauds, oral contracts are void.
If a contractual promise is not fulfilled, the person who made it may be required to
perform the promised act.
A transfer of contract rights to a third party is an assignment.
A sole proprietor has unlimited liability for all obligations that arise in doing business.
If goods identified to a contract are destroyed through no fault of either party, both
parties are excused from performance.
A business that invites persons to come onto its premises is charged with a duty to
exercise reasonable care to protect those invitees.
Under the principle of rights theory, one person’s principles are as “right” as another’s.
Under the Madrid Protocol, a company can register its trademark in more than one
country with a single application.
An illegal contract is valid if the parties to it were unaware of the illegality.
The UCC has replaced the common law concept of title in part with the concept of
identification.
A corporation is a legal entity created and recognized by federal law.
A delegatee is a party who transfers his or her obligation under a contract to another
party.
MicroWare hosts a Web site that advertises its software products, features upgrades and
“patches” for its existing software products, and accepts orders for the products from
consumers throughout the world. Mary, who owns and operates Business Records, Inc,,
a small bookkeeping and payroll business in Colorado, orders from the Web site a copy
of MicroWare’s Office Books software. Office Books is designed to help accountants
and bookkeepers keep accurate business records. When Office Books is found to have a
defect in its calculating program, MicroWare offers a patch on its Web site to fix the
problem. Mary has already lost several customers because of the miscalculating defect,
however, and files a suit against MicroWare in a Colorado state court. Can the court
exercise jurisdiction over MicroWare? Why or why not?
The person to whom rights in a contract are assigned is the assignor.
Max plots a new Batman adventure and carefully and skillfully imitates the art of DC
Comics to create an authentic-looking Batman comic. Max is not affiliated with the
owners of the copyright to Batman. Can Max publish the comic without infringing on
the owners’ copyright?