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A bank is obligated to pay an uncertified check presented less than six months from its
date.
After two years of research and an investment of a substantial amount of money,
Coast-to-Coast Company (CC) develops a new product that it hopes will produce
substantial profits. CC learns that a competitor, National Sales, Inc., has made and
begun to sell a nearly identical product. CC learns from a reliable source that National
paid a CC employee to obtain the plans for CCs product when it was in development.
What legal recourse does CC have against National?
A covenant not to sue is against public policy.
The term cure refers to the right of the seller to reject, adjust, or replace nonconforming
goods.
An employee can continue the health benefits provided by his or her employer for a
period of time only on an involuntary loss of employment.
Thinking about killing someone constitutes the crime of attempted murder.
An executor is a personal representative appointed by a court for a decedent who dies
without a will.
Efrem owns Fans & Players, a retail sporting goods shop. When Great Hill Lodge, a
new ski resort, is built in the area, Efrem decides to expand and borrows a large sum
from Hometown Bank. The bank takes a security interest in Efrems present inventory
and any after-acquired inventory as collateral for the loan. The bank properly perfects
the security interest by filing a financing statement. Efrems business is profitable, and
he begins doubling his inventory. A year later, an avalanche destroys the ski slope and
lodge. Efrems business takes a turn for the worse, and he defaults on his debt to the
bank. The bank seeks possession of his entire inventory, even though the inventory is
twice as large as it was when the loan was made. Efrem claims that the bank has rights
to only half of his inventory. Is Efrem correct? Explain.
In early neutral case evaluation, a third partys evaluation of each partys strengths and
weaknesses forms the basis for negotiating a settlement.
An international custom is a general practice accepted in the international arena as law.
A minors right to disaffirm a contract terminates sixty days after the contracts date.
Most limited liability company statutes have no provisions regarding members
meetings.
A clients negligence is never a defense to a charge of negligence against an accountant.
If a seller is a merchant, and the seller holds the goods, the risk of loss cannot pass to a
buyer.
Pricing information cannot be a trade secret.
