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As a general rule, the nondisclosure of information that is not asked for does not impose
fraud liability or impair the validity of a contract.
The shares of a close corporation are always held by a single individual.
An otherwise vague contract may be clarified by references in the contract to other
documents or agreements.
Corporations are subject to a form of double taxation.
A cause of action may not be assigned.
If no time is stated for the duration of an offer, it continues indefinitely if the offer
relates to durable goods or land.
A sole proprietor is subject to unlimited personal liability for the debts of the business.
Potential employers are free to do pre-hiring monitoring of applicants without their
knowledge.
An ordinary bailment can arise without an agreement between the parties.
