A void contract is enforceable if it is in writing.
It is presumed that a co-tenancy is a tenancy in common unless it is clear that the parties
intended to establish a joint tenancy.
Most franchise agreements provide that notice of termination of a franchise is not
necessary.
An attorney may be liable to a third party who relies on the attorney’s legal opinion to
the third party’s detriment
In a general partnership, the acts of one partner in the ordinary course of business
subjects both the partner and the firm to liability.
An innocent party may never rescind a fraudulent contract.
Employers cannot forbid their employees from participating in any religious activity.
Cases involving diversity of citizenship arise only between citizens of different states.
A free-writing prospectus may be used before the Securities and Exchange Commission
completes its review of a related registration statement.
Employees who receive tips on the job cannot be paid less in direct wages than the
federal minimum wage.
A coinsurance clause provides that two or more people will be covered by the same life
insurance policy.
A surety can never assert fraud as a defense.
When a statute protects a certain class of people, a member of that class cannot enforce
an illegal contract.
Best Products, Inc., hires Cole to develop and implement an e-commerce strategy for
marketing Best’s products. Cole signs a contract that includes a clause prohibiting him
from competing with Best during and after the employment. Before the strategy is
implemented, Cole resigns from Best’s employ and opens a business to compete with
Best. In Best’s suit against Cole, what is the most important factor the court should
consider in determining whether Cole should be allowed to compete with Best?
For an offer to be effective, the offeror must have a serious intention to become bound
by the offer.
Secured transactions are governed by the Uniform Commercial Code (UCC).
A point-of-sale system is a type of electronic fund transfer system.
Monopoly power is a minor amount of market power.
A penalty provision specifies a certain amount to be paid in the event of a default or
breach of contract.
Most crimes must be prosecuted within a certain number of years after the crimes occur.