Business Law 51399

subject Type Homework Help
subject Pages 6
subject Words 497
subject Authors David P. Twomey

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An owner of a copyright may license some of his or her rights to another in exchange
for statutorily-prescribed royalty payments.
The principal is bound by knowledge but not by notice of any fact that is acquired by an
agent while acting within the scope of actual or apparent authority.
Subject to certain limitations, a third person, on learning of the existence of an
undisclosed principal, may sue the principal.
The Fourth Amendment warrant requirement does not apply to businesses.
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Attachment provides creditors with rights.
"Pump and dump" is a practice prohibited under securities law.
Notifying a seller about a defect is not necessary if the buyer files suit for breach within
four years.
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When a party who is not originally named in an instrument allows her name to be added
to it for the benefit of another party in order to add strength to the collectability of the
instrument, that party becomes a secondary obligor and assumes a liability role.
To make an offer, the offeror must appear to intend to create a binding obligation.
Technically, land is considered as extending downward to the earth's center and upward
indefinitely.
A preincorporation subscription to stock is generally treated as an offer to the
corporation to buy the stock when the corporation is formed and the stock is thereafter
issued.
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In a cash sale not requiring the movement of goods, each party has the right to demand
that the other perform at the same time.
Protection for trade dress is available under the Lanham Act.
A transferee of a nonnegotiable warehouse receipt acquires only the title and rights that
the transferor had actual authority to transfer.
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Title to goods can be transferred without the actual delivery of the goods involved.
Forgery includes signing another person's name to a check with the intent to defraud.
An acceptance with a reservation of right must be in writing.
If consumer goods are sold under a contract that excludes consequential damages, and
the buyer is later physically injured because of a defect in the goods, the exclusion of
consequential damages is prima facie unconscionable and is not binding.
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The trustee in bankruptcy is selected by the debtor.

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