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The defense that a signature was forged or signed without authority cannot be raised
against any holder if the person whose name was signed has ratified it.
When a nationally-known neurosurgeon in Chicago, Illinois sells her practice, the
contract may specify that the seller will not practice within a 100-mile radius of
Chicago for one year.
An act that is a felony in one state be a felony in all states.
A recognizance is an agreement by which one party admits or recognizes that a
specified sum of money is owed to another party.
Administrative agencies are not subject to the constitutional protections afforded
individuals and businesses.
Breach of contract remedies are available to third parties against accountants because
they are ordinarily considered third-party beneficiaries of contracts with accountants.
All states stipulate that there shall be no fewer than three directors for each corporation.
Exceptions to coverage are generally strictly interpreted against the insurer.
"Tort" comes from the Latin term "tortus," which means "crooked, dubious, or twisted."
Antilapse statutes commonly provide that the gift to the deceased beneficiary shall not
lapse but that the children or heirs of that beneficiary may take the legacy in the place
of the deceased beneficiary.
A partnership may occur even though the parties did not label their relationship a
partnership.
A combination of two or more persons for a common nonprofit purpose is commonly
an unincorporated association.
By virtue of an agency, one person can make contracts at numerous places with many
different parties at the same time.
Corporate Integrity Agreements are the equivalent of putting a corporation on
probation.
The term "course of dealing" refers to the language and customs of an industry.
A partner has the authority to do those acts that are customary for a member of a
partnership conducting the particular business of that partnership.
When duties under a contract are delegated, the party making the delegation remains
responsible for the performance of the contract just as though no delegation had been
made.
Ordinarily, the landlord is not liable to the tenant for crimes committed on the premises
by third persons, such as when a third person enters the premises and commits larceny
or murder.
When a method of transportation called for by a contract becomes unavailable for any
reason, the contract is automatically voided.
A will, to be effective, always must be dated.
