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A quasi contract is not enforceable by a court.
If no heirs are found, the property of a decedent is transferred to a charitable
organization.
An arbitration clause requires arbitration of disputes that arise between the insurer and
the insured concerning the settlement of claims.
A partner is a co-owner of partnership property.
A person who enters into a contract when he or she is intoxicated can void the contract
under any circumstances.
Foreign investors cannot be limited liability company members.
A minor's right to disaffirm a contract terminates thirty days after the contract's date.
A covenant not to compete is never enforceable.
The incompetence of a customer revokes a bank's authority to pay an item.
A customer can stop payment on a check that has been certified or accepted by a bank.
Even if goods are not identified to the contract, the title and risk of loss can still pass
from the seller to the buyer.
Generally, a tenant must pay rent even if he or she moves out as long as the move is
unjustifiable and the lease is in force.
A life tenant can exploit the land by creating new wells or mines.
Misstatements or misrepresentations in an application for insurance can void a policy.
Information that cannot be trademarked, patented, or copyrighted can be protected as a
trade secret.
Effective corporate ethical policies must be integrated throughout the firm.
