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A merchant has greater potential warranty liability than does a casual seller.
Courts will likely protect important customer lists under trade secret laws even if
customer identities are determinable from other sources.
An entity not in privity with an accountant is prohibited from recovering against the
accountant for malpractice when the accountant had no knowledge of any use that could
affect the party.
An order for relief will be granted in an uncontested involuntary case if, within 120
days before the date of the filing of the petition, a custodian has been appointed for the
debtor's property.
The law gives certain holders of a negotiable instrument a preferred standing by
protecting them from all defenses when they sue to collect payment.
A party must mitigate damages at all costs.
Liability under the 1933 Act applies only to sellers of securities who utilize untrue
statements, not to those who merely offer to sell securities using untrue statements.
Spot zoning may result in such inequality as to be condemned by the courts.
A license is different from an easement in that it is a personal, revocable privilege to do
something on the land of another.
Today, the widest range of tort liability arises in the field of negligence.
Once a lawsuit is commenced, the case must go to the jury.
Margo had only one son, and her husband had predeceased her. The son was reckless
and extravagant, but Margo loved him dearly. She left all her property to a trustee in
trust for her son and provided that the trust was a spendthrift trust. Margo further
provided that the income from the trust was to be paid to her son quarterly until he
reached the age of 30 at which time the full trust corpus was to be paid over to him.
After Margo's death and before the son had reached the age of 30, the son signed a
contract that purported to transfer the entire trust corpus to a finance company. The son
was paid for this. The son had also run up many unpaid bills on which he was sued and
judgments entered against him. The finance company and the other judgment creditors
are seeking to compel the trustee to turn over the trust corpus to them. Decide.
A computer crime generally can only be committed by a person having some
knowledge of the operation of a computer.
An action for breach of warranty generally must be brought within three (3) years of the
breach.
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 limited liability company may be managed directly by the owners.
When a fact is known to the agent of a seller, but the seller actually is uninformed of
such fact, the sale is deemed made by the seller with knowledge of that fact.
Courts can create law.
