If a contract is not clearly a destination or a shipment contract, the law assumes that it is
a shipment contract.
Tender can be made any time of the day or night when the seller feels like delivering
the goods.
Delbert is 55 years old and was recently laid off from his job at the Middle America
Corporation. He has applied for 30 different jobs, but has been told that he is too old
and that companies prefer younger workers. Does Delbert have any recourse under
federal law?
Directors, but not officers, may compete with the corporation in their own private
business dealings.
Hugh recently purchased a motorcycle for $4,000 but has had extensive problems
starting the motor. In disgust at not being able to start the motorcycle, Hugh shouts to
his friends, “Any of you want to buy this thing for $20?” A contract will be formed if a
friend gives Hugh a twenty-dollar bill.
Ted cosigns a note for his son Junior. Ted is a surety on the note.
Determining the names of other shareholders in order to communicate with them about
corporate affairs is a “proper purpose” for a shareholder to inspect the books and
records of a corporation.
Peterson, an American exporter, sells lumber to Hydeaki, a Japanese importer, using a
documentary letter of credit. In this situation, the correspondent bank will be in Japan.
An accord and satisfaction discharges an existing debt.
Mark finds a camera on a park bench at Disneyland. Mark cannot keep the camera,
because it is mislaid property.
In a third-party beneficiary contract, the third party’s rights arise after the contract is
made.
Undue influence is the taking of unfair advantage of a person by reason of a dominant
position based upon a confidential relationship.
The Revised Act permits the board of directors to make minor corporate name changes
without shareholder action.
A condition may be inserted into a contract to terminate the duty to perform.
If Able Corporation purchases all of the stock of Beta Corporation rather than all of its
assets, there is now a change in Beta Corporation’s legal status.