A party’s oral agreement to pay another’s debt is NOT enforceable if the party’s main
purpose is to derive a benefit for himself or herself.
In a general partnership, the acts of one partner in the ordinary course of business
subjects both the partner and the firm to liability.
Pricing information is not a trade secret.
Natural Food Corporation proposes to combine with Organic Produce, Inc., and asks
Natural Food shareholders to vote on the proposal. Phoebe, a Natural Food shareholder,
votes against it, but is outvoted by the other shareholders. Is there an action that Phoebe
can take to avoid being forced to go along with the transaction? If so, what can she do?
After the combination, Organic Produce ceases to exist. Natural Food is the surviving
firm. What type of combination is this?
Substantive due process focuses on the substance of legislation.
A partner owes to the partnership and the other partners a duty of loyalty.
Pursuing a new product line is a decision that would be made by shareholders.
The chief aim of the European Union and other trade organizations is to minimize trade
barriers among their members.
A major problem facing the Securities and Exchange Commission is how to enforce the
antifraud provisions of the securities laws in the online environment.
Courts may grant specific performance of an oral contract to transfer an interest in land
that has been partially performed.
Restitution involves one party’s recapture of a benefit through which another party has
been unjustly enriched.
If a seller fails to deliver the goods, the buyer’s damages do not include all losses
resulting from this course of events.
The use of threats to force a party to enter into a contract is duress.
The Federal Reserve System acts as a clearinghouse where banks exchange checks.
Under the Age Discrimination in Employment Act of 1967, a plaintiff must prove that
he or she was replaced by a person “outside the protected class.”
The Norris-LaGuardia Act effectively declared a national policy permitting employees
to organize.
There is really no reason to be acquainted with business laws and government
regulations, except to pass this test.
Under the “danger invites rescue” doctrine, a person who tries to rescue another
individual from harm is liable for any injuries to that individual.