A receipt issued by a warehouser for goods stored in a warehouse is a bill of lading.
A contract between Kwik Import Company in Los Angeles and Macro Retail
Corporation in New York does not expressly state which party bears the risk of loss but
says only that Kwik is “to ship goods at the seller’s expense.” At what point does the
risk of loss of the goods pass from the seller to the buyer?
A contract can be created only when a promise is given in exchange for another
promise.
If a contract specifies a certain carrier, a substitution of a different carrier for any reason
breaches the contract.
Good Health & Life Insurance Corporation suffers a security breach in its computer
network. Before the company discovers the breach, the perpetrator obtains corporate
financial records and other confidential data, including marketing plans. Is this a crime?
If so, what are its elements? What steps might Good Health & Life take to ensure that
going forward only authorized users access the data on its computers? Whose
effortsthose of the federal government or Good Health & Lifeare most important in
securing the company’s computer infrastructure and why?
When a contract party alters a written contract, the other party must adapt his or her
performance accordingly.
A party seeking to recover in quasi contract must show that he or she has been unjustly
enriched.
A covenant not to compete in the sale of an ongoing business is unenforceable.
Acts of a purported agent in and of themselves can create an agency by estoppel.
A patent applicant must demonstrate that an invention is “commercially practicable” to
receive a patent.
If a voidable contract is avoided, the parties to it are released from it.
The measure of damages for the breach of a contract for a sale of land depends on
which party breaches and when.
A contract can include a provision stating that no damages can be recovered for certain
types of breaches.
If a lessor is a merchant, the risk of loss passes to a lessee when the lessee takes
physical possession of the goods.
When there is a direct conflict between a federal and a state law, the state law is
rendered invalid.
A license permits the use of intellectual property for certain limited purposes.
Express warranties displace all inconsistent implied warranties.
“Unless otherwise explicitly agreed,” title passes to the buyer at the time and place at
which the seller physically delivers the goods.
A partner always has the power and the right to dissociate from the partnership.
On May 1, Brand Name Industries, Inc. (BNI), sent Carol a letter, via overnight
delivery, offering to employ her to audit BNI’s financial statements for the current year
for $1,000. In the letter, BNI stated that Carol had ten days to accept. On May 5, Carol
sent BNI a fax that stated, “The price for the audit seems too low. Would you consider
paying $1,200?” BNI received the fax. The next day, Dan offered to conduct the audit
for $800. On learning of Dan’s offer, Carol immediately e-mailed BNI, agreeing to do
the work for $1,000. BNI received this e-mail on May 7. Explain why BNI and Carol
do, or do not, have a contract.