A firm offer by a merchant may be oral.
Dominique, a certified public accountant, provides accounting services to Eagle
Corporation. The services include preparing Eagle’s financial reports and issuing
opinion letters based on the reports. In 2008, Eagle falls into serious financial trouble,
but neither Dominique’s reports nor her opinion letters indicate this situation. Relying
on Dominique’s portrayal of Eagle’s financial situation, Eagle borrows a large sum of
money to build a new shipping facility. In lending Eagle the money, First National Bank
relies on Dominique’s opinion letter. Dominique is aware of this reliance. If Dominique
did not engage in intentional fraud but was negligent, what is her potential liability?
In certain instances of fraud, a court may “pierce the corporate veil” to hold the
shareholders individually liable.
The Civil Rights Act of 1964 does not prohibit job discrimination in the hiring process.
In a short-form merger, neither corporation’s shareholders need to approve the merger.
Airline passengers are subjects of a bailment.
When a sale of assets amounts to what in fact is a consolidation, the acquiring
corporation inherits the selling corporation’s liabilities.
In contract law, intent is determined by the objective theory of contracts.
Only a board of directors can initiate the dissolution of a corporation.
A key employee is defined as an employee whose pay falls within the top 10 percent of
the firm’s workforce.
It is a violation of federal law to destroy or deface any labeling required on a pesticide
or herbicide.
State employers are not immune from private suits brought by employees under the
Americans with Disabilities Act of 1990.
Generally, acceptance of an offer to lease goods may be made in any reasonable manner
and by any reasonable means.
Public officials prosecute criminal defendants.
A business firm can sometimes predict whether a given action is legal.
Accountants and other professionals do not face liability under the common law for any
breach of contract.