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A partnership involves partners' contributions of capital, services, or a combination of
these.
A bailment is a special form of sale in which possession is transferred to a bailee.
A condominium and a cooperative are essentially the same.
The Federal Trade Commission administers the law prohibiting unfair methods of
competition.
Creditors of a firm have first claim on the assets of the partnership.
The Willett Seed Company stored its goods with the Augusta Warehouse Company and
received a negotiable warehouse receipt. The Willett Seed Company then borrowed
money from the Georgia Railroad Bank and pledged the warehouse receipt as security.
The seed company defaulted, and the bank demanded the goods from the warehouse.
The warehouse stated that it already had delivered the goods to the seed company on
the strength of that company's promise that it would surrender the receipt shortly
thereafter. The bank sued the warehouse for the value of the goods. Will the bank win?
Fraud requires intent that the listener rely on the false statement of fact.
