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A debit transaction occurs when a person making a payment requests such payment be
made to the beneficiary's bank.
An auto manufacturer is excused from liability if it can be shown the defect was in a
component part purchased from a manufacturer.
"Conglomerate" describes the relationship of equal companies engaged in similar fields
of business activity.
A delivery is sufficient if it is made in accordance with the terms of the contract to sell.
To begin a lawsuit, both parties must appear in person and state their claims and
defenses in court.
The zoning power permits any regulation that is conducive to advancing public health,
welfare, and safety.
An offeror makes an offer to an offeree.
The media enjoy a qualified privilege for stories that turn out to be false.
When a sales contract is broken by the buyer, the seller has only the remedies of lien
and resale available.
The fact that the consideration supplied by one party is slight when compared with the
burden undertaken by the other party is immaterial.
When the main purpose of the promisor's promise to pay the debt of another is to
benefit the promisor, the statute of frauds is not applicable, and the oral promise to pay
the debt is binding.
Consideration is what a promisor demands and receives as the price for a promise.
Each partner is an agent of the partnership.
The Uniform Arbitration Act requires a written agreement to arbitrate an issue.
When a party who is not originally named in an instrument allows her name to be added
to it for the benefit of another party in order to add strength to the collectability of the
instrument, that party becomes a secondary obligor and assumes a liability role.
Generally, the tenant has the right to the exclusive possession of the premises during the
term of the lease.
If monetary damages would be an adequate remedy, then an action for specific
performance is not appropriate.
