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The crime of theft requires the taking of property, without regard to whether the
perpetrator knew it belonged to another.
The drawee who signs a draft or check is not primarily liable to any subsequent holders.
Implied warranties can arise from a "course of dealing."
False imprisonment occurs when a person restrains another intentionally and without
justification.
Under the principle of comity, one nation may defer and give effect to the laws and
judicial decrees of another country.
Puffery creates an express warranty.
Property voluntarily discarded by its owner with no intention of reclaiming it is
abandoned property.
An insured's lack of an insurable interest is an absolute defense against payment.
Attorneys are required to be familiar with well-settled principles of law applicable to a
case.
A principal has the right to control an agent's conduct in matters entrusted to the agent.
The articles of corporation cannot exclude or limit shareholder' voting rights.
Cooperative research by small-business firms is exempt from antitrust law.
If a contract does not require that performance be rendered directly to a third party, the
third party is an intended beneficiary.
A liquidated damages provision specifies that a certain amount to be paid in the event of
a future default or breach of contract.
In determining whether a franchisor acted in good faith in terminating a franchise
relationship, a court would balance the rights of both parties.
A mortgage must be in writing to comply with the Statute of Frauds.
A certification mark distinguishes products approved, or "certified," by the government.
A franchisee can operate as an independent businessperson but still obtain the
advantages of a national organization.
