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Motive is an essential element of tort liability.
A principal is not bound by statements made by an agent during the transaction of
business that is within the scope of the agent's authority.
A person has apparent authority as an agent when the principal's words or conduct leads
a third person to reasonably believe that the person has that authority and the third
person relies on that appearance.
A statement by a seller relating to goods that is part of the basis of the bargain is an
express warranty.
A de facto corporation is accorded legal recognition despite some recognized defect in
its incorporation.
To enforce an implied warranty of an indorser, the party claiming under the warranty
must give the indorser notice of the breach within fourteen (14) days after the claimant
learns or has reason to know of the breach and the identity of the indorser.
The sale of corporate assets outside the regular course of a corporation's business would
require a vote of the shareholders.
If a buyer rejects a tender of goods, the rejection must be made within ten days of
tender. There is no requirement of notice to the seller of the choice made.
Shareholders ordinarily cannot be sued for corporate liabilities.
State legislatures, not Congress, enact statutory law.
A person who has a right to buy on credit can transfer that right to a close relative.
Garnishment is a procedure accomplished only by attorneys.
The remedy for misrepresentation and fraud on the Internet is the same as the remedy
for misrepresentation and fraud committed on paper.
A seller's opinion cannot ordinarily be treated as a warranty.
A properly mailed acceptance takes effect when mailed, even if it never is received by
the offeror.
All partners must contribute money to be treated as partners.
A person has an insurable interest in property if destruction of that property would
cause a monetary or pecuniary loss to that person.
The 1988 Insider Trading Act does not establish programs rewarding informants who
provide information on insider trading activity.
A check is a particular kind of draft.
