A resulting trust depends on a contract or agreement as evidenced by the parties’ acts.
Andria, an attorney, has a personal injury case which is set for trial next week. She
needs a good doctor to testify on behalf of her client, so she contacts Dr. Wood who
agrees to testify on behalf of Andria’s client at the trial. In return for Dr. Wood’s
testimony, Andria agrees to pay Dr. Wood $10,000 if they win the case, and $5,000 if
they lose. Dr. Wood agrees. The agreement between Andria and Dr. Wood is
unenforceable.
Ratification does not need to be express; it may be implied from conduct.
Upon dissolution, a partner still has authority to complete existing contracts.
A friendly fire is one that is contained to an intended place, such as a fireplace, stove, or
barbecue grill.
An exculpatory clause attempts to excuse one from liability for her own tortious
conduct.
What is the difference between a valid contract and a void contract?
Hal holds a gun to Irving’s head and tells him to sign the contract. Irving signs the
contract, because he fears for his personal safety. The contract is void, because it was
entered into under duress.