A seller who makes a statement that relates to the value or worth of the goods creates an
express warranty.
Sellers are required to take precautions against every conceivable misuse of a product.
Bonds represent the borrowing of funds by firms.
Because corporations are not considered legal persons, courts use different principles to
determine whether it is fair to exercise jurisdiction over a corporation.
The International Court of Justice normally has authority to settle legal disputes only
when nations voluntarily submit to its jurisdiction.
If a contract term is ambiguous, a court can consider extrinsic evidence.
LakesideResort hires Micheline to act as its agent to buy a 1,000-acre waterfront tract
of land from Nabil for $1,000 per acre. Lakeside does not want Nabil to know that it is
the principal or that Micheline is its agent. Lakeside wants the land for a new marina,
and believes that Nabil may not sell the land for that purpose or may demand a
premium price. Micheline makes the purchase, signing only her name on the contract as
the buyer and not disclosing to Nabil the agency relationship. Lakeside gives Micheline
the amount to pay for the land, but she absconds with the funds. Nabil soon learns of
Lakesidesidentity. Can Nabil enforce the contract against Lakeside? Against Micheline?
In an assignment, the party receiving the rights is the assignee.
Generally, under employment-at-will doctrine, an employer may fire an employee even
if doing so would violate a federal or state statute.
An agent has the implied authority to do what is reasonably necessary to accomplish the
objectives of the agency.
Any copyrighted work created by an employee within the scope of his or her
employment at the request ofthe employer is a “work for hire.
A special power of attorney permits an agent to transact all business for a principal.
A foreign state is always immune from the jurisdiction of U.S. courts unless the state is
involved in commercial activity within the United States.
The management of Sweet Soft Drinks Corporation, a U.S. firm, wants to expand into
foreign investment and employment markets. They are considering either opening their
own production facility in a foreign country or entering into a licensing agreement with
a foreign firm. What are the advantages and disadvantages of each of these courses of
action?
Acceptance of goods precludes the buyer or lessee from exercising the right of
rejection.
More than two hundred years ago, the Declaration of Independence recognized the
importance of protecting creative works.
A person who has been determined by a court to be mentally competent cannot form a
legally binding contract with another party.
An employer can voluntarily pay overtime to ineligible employees.
Global Airline, Inc., is a commercial passenger airline. Global Airlineincludes on its
tickets a clause stating that the airline is not liable for any injury to, or the death of, any
passenger caused by its, or its employees, negligence. A Global Airline flight from Los
Angeles to New York crashes into Long Island Sound, resulting in the deaths of all
passengers.The accident is found to be due to Global Airlinesnegligence.Based on the
clause on its tickets, can Global Airlineavoid liability?