UCC Article 2 applies not only to contracts for the sale of familiar items of personal
property, such as automobiles or chairs, but also to the transfer of commodities, such as
oil, gasoline, milk, and grain.
In the United States today, we generally have one law court and one equity court.
A bank always is liable for making payments on a postdated check.
If two firms consolidate, the new corporation usually succeeds to the rights, powers and
immunities of its component parts.
Walker Meeks is currently a party to two contracts. On the first contract, he has agreed
to paint a portrait of a gentleman riding a horse. This portrait is for the wall of the
gentleman’s study. The gentleman chose Meeks for his realism in portraying the true
feelings behind portrait models. Meeks’ second contract is to paint the house of Sylvia
Sneed.
Meeks is offered an employment contract for a large sum of money. He wishes to
accept, but this would render him unable to complete the aforementioned contracts.
Meeks delegates the painting of the portrait to his friend Bob, an impressionist, and
delegates the painting of Sylvia’s home to Ted, a professional house painter.
Neither the gentleman nor Sylvia intends to allow the delegation to occur. Comment on
the probable outcome of the dispute.
An agreement between Jim and his 18-year-old daughter, Betty, provides that he will
give her $25,000 if she does not marry until after her 22nd birthday. One month after
reaching the age of 22, Betty, still unmarried, claims the $25,000.
Jim refuses to pay, claiming that the agreement was illegal. Is Jim correct?
A reorganization plan may, in certain instances, provide for the rejection of executory
contracts or collective bargaining agreements.
An issuer has an obligation to honor drafts under a letter of credit if the conditions
specified in the letter have been satisfied. This obligation includes the bank’s obligation
to assure that the goods sold by the seller in fact conform to the contract.
If an instrument is negotiable, it is governed by Article 2 of the UCC.
Persons who are not a party to a contract can never sue on the contract.
A recognizance is an agreement by which one party admits or recognizes that a
specified sum of money is owed to another party.
The fact that harm occurred is sufficient to establish a nuisance.
Web site operators are free to plant “cookies” on computers with no fear of action for
breach of unauthorized access or privacy.
A payment by a debtor in the ordinary course of business, such as the payment of a
utility bill, will not be set aside by the bankruptcy trustee.
An owner ordinarily is not liable for harm caused a third person by the negligence of an
employee of an independent contractor.
Due diligence usually consists of searching public records and inspecting the land.