In a dispute between Cosmic Games Corporation and Mythic Engineering Associates,
Inc., the court applies the doctrine of stare decisis. What is this doctrine? What does this
doctrine have to do with the American legal system?
Plant life is not considered to be real property.
In some states, a judgment creditor must obtain a separate order of garnishment to cover
each of the debtor’s pay periods.
In contract law, intent is determined by the objective theory of contracts.
A party seeking to recover compensatory damages cannot also recover incidental
damages.
If, before the time for performance, a buyer communicates an intent not to perform, the
seller can consider the buyer in breach and pursue a remedy.
A trade association practice or agreement that restrains trade is analyzed under the rule
of reason.
Obvious exaggerations constitute deceptive advertising.
An agency relationship created for an illegal purpose is enforceable.
When the harassment by co-workers creates a hostile working environment, an
employee may have a cause of action against the employer.
An instrument that states simply “I.O.U.” is not negotiable.
Multi Investments, Inc., offers to buy Nano Toy Corporation. On May 1, Nano provides
copies of its financial statements for the previous year, showing an inventory of $10
million. On May 15, Nano discovers that the previous year’s inventory is overstated by
$5 million, but does not inform Multi. On June 1, Multi, relying on the financial
statements, buys Nano. On June 10, the buyer discovers the inventory overstatement.
Can Multi succeed in a suit against Nano for fraud?
Forbearance is a process that allows a lender to legally repossess and auction off the
property securing a loan.
The equal dignity rule requires that a principal and agent treat each other with “equal
dignity.”
Primary liability is unconditional.
Not all of the terms presented in shrink-wrap agreements have been enforced.