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The Securities and Exchange Commission can seek sanctions against those who violate
foreign securities laws.
When a bank properly dishonors a check for insufficient funds, it has no liability to the
customer.
When no delivery terms are specified in a contract for a sale of goods, there is no basis
for enforcing it.
An innocent party may seek damages for a fraudulent contract.
Some states have passed laws prohibiting the withdrawal of general partners from a
limited partnership.
To be negotiable, an order to pay must be addressed to only one person.
For civil sanctions to be imposed under Section 10(b) of the Securities Exchange Act of
1934 and SEC Rule 10b-5, scienter must not exist.
An accountant is not liable for a misstatement in a registration statement to a purchaser
of securities if the misstatement was not of a material fact.
If a sale involves crops that are to be harvested within twelve months, identification
takes place when the crops are planted.
A principal owes an agent a duty of obedience.
Any conspiracyeven if it occurs outside the United Statesthat has a substantial effect on
U.S. commerce is within the reach of the U.S. antitrust laws.
An administrator is a personal representative appointed by a court for a decedent who
dies without a will.
Most parties go to trial for damages or other remedies rather than settle their lawsuits.
A writ of execution is a court order to execute a debtor after the entry of a final
judgment in a creditors lawsuit against the debtor.
Evidence of prior agreements that differ from the written terms of a contract can be
introduced in court to alter the contract.
