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A finance lease is a special type of lease transaction that generally involves three parties
instead of two.
An agreement for an illegal substance will be enforced by the courts if all other
elements of the contract are present.
Ken, a research chemist, has been promised a fellowship with a stipend of $10,000 to
do research on synthetic fuel oil. Under the terms of the fellowship, Ken is free to use
the money as he sees fit. Ken decides to build his own laboratory, so he will not have to
rent one. He hires a carpenter who begins working on shelving and cabinets in the
laboratory. Then Ken receives a telegram saying the fellowship has been canceled. No
reason is given for the cancellation. If Ken sues, will he be able to collect the money
from the foundation which promised the fellowship? Explain your answer using legal
terminology.
Melissa cannot transfer control of the goods held by a bailee by transferring a document
of title.
Discuss the revocability of assignments.
An accountant who materially breaches the contract is entitled to no compensation.
The U.S. Supreme Court is rigidly bound by its own decisions under the doctrine of
stare decisis.
