Title VII of the Civil Rights Act of 1964, the Americans with Disabilities Act, and the
Age Discrimination in Employment Act do not apply to U.S. citizens employed abroad
by U.S. employers or by foreign companies controlled by U.S. employers.
If a checking account customer’s funds are insufficient to pay all of the items that the
bank receives on that account on a given day, the bank may charge the items against the
account in any order the bank deems convenient without incurring liability to the
customer/drawer for choosing one item over another.
A principal is contractually bound to a third party if the agent acts without any authority
but the principal ratifies the contract.
After reorganization, all debts are forgiven.
For a mark to be protected under federal law, it must be registered with the Patent and
Trademark Office.
The 1933 Securities Act differs from the 1934 Act in that the latter deals with issuing
stock and the former has to do with trading stock that has already been issued.
The 1934 Act applies only to stock traded on a national exchange for companies whose
corporate assets exceed $10 million.
Failure of consideration is a real defense to a negotiable instrument.
Kuhn Corporation transfers one third of its assets to True Color Co., a wholly owned
subsidiary. Under the Revised Act, this transfer is considered to be a sale in the regular
course of business.
While certain debts of an individual are not dischargeable under Chapters 7, 11, and 12,
all debts are dischargeable under Chapter 13’s “hardship discharge” provisions.
Bob’s brother, Steve, planned to visit over Labor Day weekend. Together they planned
to build a deck in Bob’s backyard. Bob ordered the lumber, concrete, nails, and other
supplies to be delivered on Friday. He also contracted to rent a saw for the weekend
(Sat., Sun., and Mon.) at a cost of $20 a day. When he went to pick up the saw, the store
had rented it to someone else. He drove all over town trying to borrow another, but he
could only get one for Sunday, Monday, and Tuesday at a cost of $50 per day. Because
they couldn’t work on Saturday without a saw, Bob had to hire Mac at a cost of $80 to
work with him on Tuesday and, of course, Bob had to take off from work. Calculate the
damages to which Bob is entitled from the rental company. Explain.
A restrictive covenant stating that a house cannot be sold to someone who is not of the
Caucasian race will be upheld by the courts.
Kollenberg’s sold a substantial part of its equipment to Castillo Brothers. Nothing else
was involved in the sale. The sale of the equipment is a bulk transfer under the Code.
A negotiation can be effective to transfer an instrument even if made by a person
without capacity.
The difference between fraud and misrepresentation is that fraud involves malice while
nonfraudulent misrepresentation is always innocent.
Larry says to Jeff, “If you will mow my lawn, I will give you fifteen dollars.” Under
these facts, no contract is formed until Jeff finishes mowing the lawn.
A seller’s promise to service a sewing machine free for the next 90 days when she has
no intention of doing so is actionable as a false representation of a fact if the other
elements of fraud are present.