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The Securities Act of 1933 deals with the original distribution of securities by the
issuing corporations.
Only government agencies can sue for violations of an environmental protection
control.
A bilateral contract is essentially an exchange of promises.
Most states provide that if a dishonored check is not made good within a stated period
of time, it will be presumed that the check was originally issued with the intent to
defraud.
The U.S. dollar is considered the international currency.
Cyril made two contracts. The first was to have his house painted one month from the
date of the written contract. The second was for his neighbor's 1957 Ford Thunderbird.
Each contract was definite and clear in all respects. As to the house painting, Cyril
inquired with the painter as to when the work could begin. The painter explained that he
was extremely busy and was not sure if he could fulfill the contract. Cyril flew into a
rage and immediately hired someone else who painted the house, but at a higher price.
Cyril then sued the painter, claiming that there was an anticipatory repudiation of the
contract by the painter.
With regard to the automobile purchase contract, after signing the contract, the neighbor
decided that she did not wish to sell her car and refused to complete the transaction.
Cyril attempted to purchase a similar car elsewhere, but the car was a vintage
automobile which was not available on the open market. Cyril sued the neighbor for
specific performance of the contract. Discuss the probable outcomes of the lawsuits.
Technically, land is considered as extending downward to the earth's center and upward
indefinitely.
Morris made two purchases. He purchased his neighbor Cordelia's typewriter and a
computer from Crazy Computers. Regarding the typewriter, Cordelia had bought it on
credit from Jack's Typewriters. Cordelia had financed the purchase with Jack's and
signed a promissory note and a security agreement covering the purchase. The creditor,
Jack's, did not file a financing statement, relying on the concept of automatic perfection
for purchase money security interests in consumer goods. Morris was unaware of the
history of the typewriter. The computer was subject to a security interest in favor of
Country Bank, which had perfected its security interest by filing. Morris, by
coincidence, knew of this security interest when Morris purchased the computer.
Unfortunately, neither Cordelia nor Crazy Computers paid the secured creditors who
now seek to repossess the collateral from Morris. What will be the likely outcome of
this case?
Letters of credit are a form of advance arrangement for financing.
Illegality, such as a note for gambling, is a universal defense.
Descriptive terms such as locations and colors are never subject to trademark
protections.
A father's oral promise to his daughter and her fiancée made in consideration of their
contemplated marriage is binding when made in the course of a serious discussion.
The Age Discrimination in Employment Act forbids discrimination by employers
against persons over 30 years of age.
An executed contract is an agreement that has been completely performed.
The use of agency arrangements allows a U.S. firm to avoid taxation on sales made in
its agent's country.
An employer has a 'shop right" to use an invention of an employee without payment to
the employee if the invention was made during working hours with the employer's
material and equipment.
Fraud requires intent that the listener rely on the false statement of fact.
United States common law requires that case precedents be followed under all
circumstances.
Unless otherwise specified, the place of delivery is the seller's place of business.
A corporation is considered a person for purposes of the due process clause of the
United States Constitution.
