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The initial interest rate is the part of a purchase price that is paid up front in cash.
A court may depart from a precedent if the court decides that the precedent should no
longer be followed.
Under a deed in lieu of foreclosure, the property is conveyed to the lender in
satisfaction of the mortgage.
An answer can admit to the allegations made in a complaint.
A bank cannot recover from a holder who cashes a check bearing a forged indorsement
once the bank has accepted and paid the item.
A contract is a promise to act.
Fungible goods are goods that cannot be delivered by physical transport.
State law may mandate that an incontestability clause be included in an insurance
policy.
A promise to deliver a gift is constructive delivery.
A lender can make a higher-priced mortgage loan based on the value of the consumers
home without verifying the consumers ability to repay the loan.
Generally, a bank has no obligation to pay a customers overdrafts.
Consequential damages are awarded to cover all of the remote consequences of
whatever injury a nonbreaching party suffers.
A contract can contain both a warranty of merchantability and a warranty of fitness for
a particular purpose.
Expropriation occurs when a government seizes private property for an illegal purpose
and awards just compensation.
A corporation whose shares are held by relatively few persons is a partnership.
A party seeking to recover in quasi contract must show that he or she acted without
reasonably expecting to be paid.
On a partners dissociation, his or her duty of loyalty to the partnership ends.
One way to acquire ownership rights to property is merely to possess it.
