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The bank on which a check is drawn is the depositary bank.
The United States Supreme Court can review any case decided by any of the federal
courts of appeals.
Under a coinsurance clause, a homeowner who insures a home for 80 percent of its
value can recover only 80 percent of the cost for damage to it.
A choice-of-law clause is a provision in a contract that excuses a party from liability for
nonperformance due to "acts of God.
The extreme risk of an activity is a defense against imposing strict liability.
Most limited liability company statutes specify how members voting rights must be
apportioned.
A party seeking to recover in quasi contract must show that he or she has been unjustly
enriched.
Recording a mortgage "perfects the debtors security interest in the property.
If a buyer breaches a contract and the seller resells the goods to another party, the seller
cannot hold the breaching buyer liable for any loss.
A covenant not to sue always bars further recovery.
The stability and predictability of the law is essential to business activities.
A mistake of fact cannot be bilateral.
Goods that are merchantable are fit for any purpose.
When a statute protects a certain class of people, a member of that class cannot enforce
an otherwise illegal contract.
Each time a person is paid discriminatory wages, benefits, or other compensation, a
cause of action arises.
Edie needs $1,500 to buy textbooks and other school supplies. Frank agrees to loan
Edie $1,500, accepting as collateral Edies car. They put their agreement in writing and
sign it. Edie keeps possession of the car. Does Frank have an enforceable security
interest? How can Frank let other creditors know of his interest in the car?
Trade fixtures are no exception to the rule that fixtures are a part of real property.
Forcing someone to enter into a contract through fear created by threats is duress.
When an owner is unable to make mortgage payments, a lender may agree to a short
sale.
