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A holder of a negotiable instrument cannot be a holder in due course when the holder
learns of a defense to payment after the acquisition of the instrument.
A bank is not required to pay a check presented more than six months after its date.
The seller of a painting is not bound by the sales contract if the painting purchased was
considered of little value and only later discovered to be valuable to the surprise of both
buyer and seller.
The rights of an employee with respect to compensation are governed in general by the
same principles that apply to the compensation of an agent.
A surety that has made payment of a claim for which it was liable as surety is not
entitled to indemnity from the principal debtor.
In a self-service store a sale cannot occur until the goods are paid for.
An easement is a right to use another€s property that belongs to the land that is
benefited.
In a case of the sale of property, time is not regarded as of the essence when there has
not been any appreciable change in the market value or condition of the property and
when the person who delayed does not appear to have done so for the purpose of
speculating on a change in market price.
The Uniform Arbitration Act requires a written agreement to arbitrate an issue.
When parties contract expressly for a particular subject matter, the contract is
discharged if the subject matter is destroyed through no fault of either party.
