Humberto called his friend John and asked him to come over immediately because
Humberto had suffered a stroke and might be dying. In their telephone conversation,
Humberto advised John that he wanted to give John his gold watch. Immediately after
their telephone conversation, Humberto wrote out a will that left his share in Blackacre
to John. Blackacre was the marital home of Humberto and Connie, who owned the
home as tenants by the entirety. Humberto died before John arrived at Blackacre. John
claims the watch and a share in the home. Connie contests both matters. Decide.
Negotiation of commercial paper results in lesser rights to transferees than those rights
afforded assignees of contracts under contract law.
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.
A promissory note that is payable “on the date of my marriage” is nonnegotiable even if
the maker of the note marries.
Over half of all Fortune 500 firms train their employees to recognize and deal with
particular types of behavior that breach their ethical codes.
The first federal legislation that dealt with air pollution was the Air Pollution Control
Act of 1955, which was simply a statutory recognition of a concern about air quality.
At common law, the occupier of land owed the same duty to both licensees and invitees.
A bill of sale can be used as proof of an otherwise oral agreement.
An injured party who rescinds a contract after having performed services may recover
the reasonable value of the performance rendered under restitutionary or
quasi-contractual damages.
Provisions in a sales contract that exclude implied warranties bar the buyer from
recovering damages for fraud.
Under the common law, an employer is under a duty to furnish an employee with a
sufficient number of competent fellow employees for the work involved.
One of the concerns reflected in Sarbanes-Oxley was that auditors were not exercising
sufficient discretion and independence in conducting audits of their clients.
Embezzlement always involves a bank account.
The right to be secure against unreasonable searches and seizures conducted by the
police is guaranteed by state statute.
When a surety pays a claim that it is obligated to pay, it automatically acquires the
claim and the rights of the creditor; this is known as subrogation.