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Plaintiffs suing for damages caused by a defective product are limited to taking action
only against the manufacturer(s) of such goods.
A tenant can claim that there has been a constructive eviction even if the tenant
continues to occupy the rented premises.
The major advantage to investors in a corporation stems from the fact that their risk of
loss is limited to the amount of their investment.
A condition precedent must occur before a party to a contract has an obligation to
perform.
All owners of a limited liability company are known as officers.
A partnership involves partners' contributions of capital, services, or a combination of
these.
In every 10b-5 situation, the plaintiff must show "reliance" on the misrepresentation and
a resulting injury.
A document of title is not sufficient for a creditor to take an interest in goods.
Donna called her stockbroker Henry and told him to purchase 300 shares of Royex
Corporation shares at $15 per share, the current market price. Henry agreed to do so,
but became distracted and failed to do so. The price of the shares rose $3 in price that
day. In the evening, Donna in a telephone conversation agreed to sell 300 shares of
Royex to Sid. Assuming Henry and Donna dispute the validity of the contracts, which
of the contracts are enforceable in court?
All courts have original jurisdiction.
Instruments may not be negotiated if they have been dishonored by non-acceptance.
The Market Reform Act of 1990 empowers the SEC to suspend all trading when
markets are excessively volatile.
Title to goods can be transferred without the actual delivery of the goods involved.
"Race norming," a process whereby the results of hiring and promotion tests are
adjusted to ensure that a minimum number of minorities are included in application
pools, is a lawful form of affirmative action.
Subject to constitutional limitations, corporations may be regulated by statutes.
