Arnold Properties, Inc. entered into a lease agreement with Janet for a residential house.
Janet made four (4) subsequent monthly payments. At the end of the four (4) months,
Janet learned that she was to be transferred to a new job in another state. Janet
approached her landlord and explained her situation. The landlord was unsympathetic
and refused to release Janet from her rent. The landlord insisted on enforcement of
rental payment for the duration of the lease, which was for one (1) year. Janet had not
provided for a release in her lease to cover the possibility of a job transfer. Must Janet
pay for the remaining eight (8) months of rent even if she is not in physical possession
of the property?
The formation of a contract of insurance is governed by the general principles
applicable to contracts.
Employment law is based on a combination of contract law and the law established by
courts, lawmakers, and administrative agencies.
An unrecorded mortgage is not valid and binding between the parties.
A party to a sales contract may demand at any time that the other party provide
adequate assurance of performance.
State laws designed to protect the public from the sale of worthless stocks and bonds
are known as €clear sky€ laws.
In most bilateral contracts, the performances of the parties are concurrent conditions.
If a buyer purchases goods on approval, the buyer’s creditors cannot reach such goods
until there is an approval.