Belinda has a household insurance policy, which requires that she notify the insurance
company within thirty days of any loss before she is eligible to receive payment for her
loss. The notification requirement is a condition precedent to the insurance company’s
obligation to perform, even though the notification must occur subsequent to the loss.
Crimes consist of two basic elements.
The Code provides that where neither party is at fault and the agreed manner of
delivering the goods becomes commercially impracticable, a substituted manner of
performance, if commercially reasonable, must be tendered and accepted.
In providing services for his client, an accountant obtains information concerning the
client’s business affairs. What are the legal issues concerning this client information?
Define and discuss the doctrine of ‘sovereign immunity.” Discuss the Foreign Sovereign
Immunities Act of 1976.
A contract cannot be formed unless it is possible to determine the exact moment at
which it was made.
The Code’s firm offer rule applies only to offers in writing that are made by a merchant
offeror.
Mark agrees to a three-year employment contract with State University as long as they
become accredited after one year. This contract contains a “condition subsequent.”
The Sixth Amendment protects persons against self-incrimination, double jeopardy, and
being charged with a capital offense except by grand jury indictment.
Under the doctrine of sovereign immunity, domestic courts, in certain circumstances,
will exercise jurisdiction over a foreign state or its instrumentalities.
When an owner of land subdivides it into lots and records the plat of the subdivision, he
is held by some statutes and by common law to have dedicated to the public all streets,
alleys, parks, playgrounds, and beaches shown on the plat.
Under the RUPA, upon dissolution, the partnership must be liquidated.
A maker must sign in the lower, right-hand corner of the instrument.
Bill is currently enrolled in law school. He expects to graduate and take the bar exam in
order to be able to practice law. Before Bill becomes a lawyer, he promises to represent
his friend, Tom, in a breach of contract action if Tom will pay him 25% of the
settlement. Bill negotiates and the case settles for $50,000. Tom refuses to pay Bill. Bill
then graduates and attempts to sue Tom. Bill has a legal right to enforce the agreement.
If a partnership is a debtor under the Bankruptcy Code and partnership property is
insufficient to pay all the claims against the partnership, the trustee in bankruptcy must
first seek recovery of the deficiency from the estates of the bankrupt partners, and then
may seek recovery from general partners who are not bankrupt.
Bargains are illegal if they involve a crime or tort but not if they are merely against
public policy.
An accountant who contractually promises to conduct an audit to detect possible
embezzlement is under a contractual obligation to provide for the client an expanded
audit beyond Generally Accepted Auditing Standards.
The Sherman Act contains both civil and criminal penalties.
The Foreign Corrupt Practices Act makes it illegal to offer a payment of money to a
foreign official to influence a decision even if the payment is not made.