A gratuitous agent has a duty of loyalty but is not liable for any harm caused by his
careless performance.
Sean breaches an agreement in his employment contract with Inmett Corporation by
also working for Inmett’s major competitor. Sean’s promise to Inmett of his exclusive
personal services may be enforced by injunction.
Debt securities represent an ownership interest in the corporation.
If a defendant acts under emergency conditions, these conditions will be taken into
account in applying the reasonable person standard.
A collateral promise is an undertaking to be primarily liable for the principal debtor’s
debt.
To run with the land, a restrictive covenant must involve promises that are enforceable
under the law of contracts.
A bank gives value when it allows a depositor to withdraw funds against a deposited
check.
Because the authority given to an agent by a principal is strictly personal, the agent’s
death terminates the agency.