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The United States utilizes a tripartite division of government.
Kant's theory understood that sometimes you have to use someone to achieve a
one-sided benefit.
The rights of a transferee of a negotiable bill of lading are defeated if the goods have
been stopped in transit.
The person who turns over the possession of bailed property is the bailor, and the
person who accepts possession is the bailee.
Impossibility of performance applies when the debtor does not have sufficient funds to
pay a debt.
Partnership property is only that property contributed by the partners.
The drawee on a check is a bank.
Corrective advertising required by the FTC also is called retroactive advertising.
A contract of indefinite duration may be terminated by notice from either party to the
other party.
When a term of an acceptance conflicts with a term of an offer but it is clear that the
parties intended to be bound by a contract, the UCC still recognizes the formation of a
contract, and the conflicting terms cancel each other and are ignored.
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.
Individual intentions, as expressed in contracts and wills, will not be given effect in the
United States unless expressly authorized by law.
Having a large percentage of the market is not necessarily a monopoly.
If a seller under a shipment contract sends nonconforming goods, the risk of loss in
transit is on the buyer.
The issuer of a letter of credit is in effect the obligor on a third-party beneficiary
contract made for the benefit of the beneficiary of the letter.
In applying the "foreign substance/natural substance" liability test in the sale of food or
drink, courts hold that there is liability if the seller does not deliver to the buyer goods
of the character that the buyer reasonably expected.
