An Internet service provider is generally not liable for publishing a defamatory
statement that comes from a third party.
A principal can ratify an agents unauthorized act in its entirety or merely in part.
Recreation & Sports Equipment Corporation sells a product that is capable of seriously
injuring consumers who misuse it in a foreseeable way. Does the firm owe an ethical
duty to take this product off the market? What conflicts might arise if the firm stops
selling this product?
Home equity is the portion of a homes value that is “paid off.
Unlike corporate bylaws, the articles of incorporation are easily modified.
A contract will be discharged if foreseeable circumstances make it impossible to attain
the contracts purpose.
An administrative agency can issue a guidance document to advise the public on the
agencys legal and policy position.
Damages are designed to punish a breaching party and deter others from similar
conduct.
Generally, the implied warranties of merchantability and fitness for a particular purpose
cannot be disclaimed.
The power to merge is conferred by statute.
Most states apply their limited liability company (LLC) statutes to an LLC formed in
another state.
To make an effective delegation, the delegator must use the word delegate.
Good faith and fair dealing are not important in terminating a franchise relationship.
All environmental law consists of statutes and regulations.
Even if an obvious, significant clerical error exists in a written contract, the contract is
enforceable.
A contract that one party retains the exclusive right to cancel at any time is
unenforceable.
Real Estate Investments, Inc., owns and manages an office building. Secure Insurance
Company agrees to lease the building for five years. Under the lease, Secure is
obligated to pay all of the utility costs. Two years into the term, Secure asks Real Estate
to modify the lease to provide that the utility costs be split equally between them. Real
Estate agrees, but later decides it does not want to share the costs and refuses to pay. Is
the landlord bound to its agreement to share the utility costs? Why or why not?
In the absence of any specific agreements, the buyer or lessee must make payment prior
to receipt of the goods.