Virtually all shareholders who vote for directors do so through the use of a proxy.
To ratify a contract, the principal must have knowledge of all material facts and may
ratify either the entire contract or the part that is advantageous to the principal.
Marlene owes Bailey $750 due June 1. Bailey assigns the debt to Greg on May 1, but
neither Bailey nor Greg informs Marlene. On June 1, Marlene pays Bailey. Marlene
must still pay Greg if Bailey does not turn over the money to Greg.
Tracey offered the police chief $10,000 to ignore illegal gambling activity in her
establishment. Tracey cannot be found guilty of bribery since the police chief refused
her offer.
Under the UCC, the aggrieved party must choose one remedy to ask for and forfeit the
others.
An easement describes a limited possessory interest in the land.
Insiders may refrain from trading on inside information rather than disclose it to avoid
liability under Rule 10b-5.