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In January, a buyer and a seller agreed on the sale of 10,000 pounds of tomatoes to be
delivered on July The contract stated that the seller would set the price on June 15 and
that the buyer would pay the price on delivery. On June 15, the market price of
tomatoes was approximately 75 cents per pound. The seller set the price at $50 per
pound and the buyer demanded that the price be lowered.
When the parties could not agree, a lawsuit developed. The key issue was whether the
seller had the right to set the $1.50 price. Decide.
A beneficiary of personal property by will may be called a devisee.
Generally, the right to make a will is limited to persons 18 or older.
If a bank improperly refuses to make payment of checks for which its customer has
sufficient funds on deposit, it is liable to the drawer for damages sustained by the
drawer in consequence of such dishonor.
The rights of partners are determined by the partnership agreement.
An acceptance of goods can be done either expressly or by implication.
The Foreign Corrupt Practices Act prohibits improper payments to influence foreign
officials.
A reorganization plan may, in certain instances, provide for the rejection of executory
contracts or collective bargaining agreements.
Public policy exceptions to the employment-at-will doctrine apply only to
"whistleblowing" situations.
A holder of the paper has immunity from certain defenses that might have been asserted
against the transferor.
The greatest change to the Constitution has been made by the United States Supreme
Court through interpretation.
A creditor of an individual partner cannot proceed against any specific items of
partnership property, but can obtain a charging order against that partner's interest in the
partnership.
In large cities talent agencies typically charge clients no more than a 10% commission.
Tina's Talent, Amy's Actors & Models and the Barton Agency are the only three talent
agents in a small city. Due to the limited amount of work available for actors and
models in their city, the three talent agents have gotten together and agreed to never
charge a commission below 15%. Discuss if this is acceptable under the Sherman Act.
Customs and trade usage can override the express provisions of a contract.
Jones and Clark entered into a written contract for the purchase of an apartment
building by Clark. The contract was carefully drafted to set forth the agreement of the
parties. It was signed by both parties. Clark subsequently claimed that the contract did
not cover all the terms included in the written and oral agreements that the parties had
made during their prior negotiations.
Jones claimed that the parol evidence rule barred proof of all of their prior agreements.
Which claim would be upheld in court?
Under the employment-at-will doctrine, the employer has historically been allowed to
terminate the employment contract at any time for any reason or for no reason.
Ordinarily, a court will not consider whether a contract is fair or unfair.
Beth Roberts purchased a "new" car from Honest John's Car Lot six months ago. The
sales agreement expressly described the vehicle as a new car, and all usual factory
papers accompanied the sale. However, Beth discovered that the car actually was
acquired by Honest John's from another dealer who had used it as a demonstrator and
loaned it to business friends on a regular basis. The car had more than 10,000 miles on
it, a fact that had been concealed by turning back the odometer. Beth also discovered
that Honest John's apparently had engaged in this practice before. Beth is suing for
breach of contract. She is asking for compensatory damages equal to the difference
between the new car price she paid and the average price the vehicle would have
brought as a used car. In addition, she is asking for damages in the amount of $5,000.
Honest John's attorney has told Beth that she will fight both claims and has advised
Beth that the court will not award $5,000 as punitive damages for such a suit. What do
you think?
With regard to an unliquidated debt, payment by the debtor of less than the amount
claimed by the creditor is consideration for the latter's agreement to release or settle the
claim.
A party injured by the other party's anticipatory repudiation of a contract has the right to
bring suit at the time of the repudiation without waiting to see if there will be proper
performance when due .
