The states and the Securities and Exchange Commission jointly created a simplified
securities registration process for large businesses.
The measurement of compensatory damages for breach of contract is the same for all
types of contracts.
Firms are obligated to return a principal amount per share to each holder of common
stock.
Implied warranties can arise as a result of a course of dealing.
In a repayment plan case, after the debtor has completed all payments, the court grants a
discharge of all debts provided for by the plan.
A business that invites persons to come onto its premises is charged with a duty to
exercise reasonable care to protect those invitees.
To reason by analogy is syllogistic reasoning because it employs a syllogism.
Acceptance of goods precludes the buyer or lessee from revoking his or her acceptance.
The role played by women may present some difficult ethical problems for firms doing
business internationally.
Informal agency actions are exempt from the Administrative Procedure Acts
requirements.
Andy leases to Burgertown Franchise Corporation a 10,000 square-foot building under
a written lease with a twenty-year term, rent payable annually. The lease includes a
clause stating that Burgertown is responsible for making all necessary repairs, including
rebuilding the structure after its destruction by any cause beyond Andys control. The
lease does not include a clause concerning its assignment. One day after the tenth rental
payment, Burgertown, without Andys knowledge or consent, assigns its interest in the
lease to Chicken Hut Restaurants, Inc. Meanwhile, Andy dies and Dotty inherits Andys
interest in the building. Without the knowledge or consent of either Burgertown or
Chicken Hut, Dotty sells the building to Earnest Investments, Inc. The next month, the
building is destroyed in the flood of a nearby river. Burgertown rebuilds it and files a
suit against Earnest for the expense. Earnest responds that the lease has terminated. Is
Earnest correct? If so, when did the lease terminate? If not, is Earnest liable for the cost
of rebuilding the structure? Why or why not?
A person must have contractual capacity to be a principal.
Elin works for Form Molding Company. Near her workstation is a conveyor belt that
runs through a large industrial oven. Some workers, including Greg, Elins supervisor,
use the oven to heat food. Thirty-inch-high flasks containing molds are fixed at regular
intervals on the conveyor and transported into the oven. Elin walks between the flasks
to get to her workstation. One day, when the conveyor is not moving, Elin uses the oven
to cook a frozen potpie. As she removes the pie from the oven, the conveyor comes on.
One of the flasks strikes Elin, seriously injuring her. Elin seeks recovery under the state
workers compensation law. Should she recover? Why or why not?
Final administrative rules have binding legal effect unless the courts later overturn
them.
Merchants are required to warrant that the goods they sell or lease are fit for the
particular purpose for which a buyer or lessee will use the goods.
The period for persons to comment on a proposed administrative rule must be at least
thirty days.