Generally, misdemeanors are more serious than felonies.
Coppersmith executed and delivered negotiable notes to the payee, Charlene. The payee
indorsed the notes to Whitehurst but did not deliver them. Instead, she kept the notes in
her possession because she wanted to collect the interest during her life and wanted the
indorsee to have the notes on her death. After Charlene’s death, her executor,
Cartwright, found the notes. Both Cartwright and Whitehurst sought to enforce the
notes against Coppersmith. Who was entitled to do so?
A client may recover tort damages from an accountant for fraud and gross negligence,
but not for ordinary negligence.
An act or omission of the landlord that substantially deprives the tenant of the use and
enjoyment of the premises is a constructive eviction.
A trade fixture is a fixture that is traded in by the owner when purchasing new fixtures.
An agent’s duties must be expressly stated in the agency agreement and may not be
implied from the principal’s words or conduct.
To establish impossibility a party must show (1) the unexpected occurrence of an
intervening act; (2) that the risk of the unexpected occurrence was not allocated by
agreement or custom; and (3) that the occurrence made performance impossible.
Under the Uniform Simultaneous Death Act, if survivorship cannot be established, the
property of each person is disposed of as though each had survived the other.
Barnes agrees with Morgan to enter into the management of a new subdivision of
residential housing. Morgan appoints Barnes as his manager for the duration of the
development program. During the course of the construction, Barnes decides to use
funds specified for the subdivision for an office space project that Barnes alone has
been interested in completing. Morgan is very angry on learning of Barnes’ actions and
terminates the agency. Barnes insists that the agency cannot be terminated in this
manner. Is Barnes correct?
Plaintiffs suing for damages caused by a defective product are limited to taking action
only against the manufacturer(s) of such goods.
The names of limited partners and investors must be included on the certificate of
limited partnership.
A motion for a directed verdict occurs immediately after the last pleading is filed.
According to the intended user rule the accountant must have furnished the information
directly to the nonprivity user or to the client knowing that they client would transmit
the information.
A sole proprietorship must pay, at the corporate income tax rate, income taxes based on
the net earnings of the sole proprietorship.
If a buyer chooses to cover the substituted goods purchased must be substantially
identical to the contract goods.
A seller cannot be held liable for the breach of an express warranty if the seller honestly
believed that the warranted statement was true.
The Securities and Exchange Commission (SEC) is not limited to litigation when a
securities law enforcement investigation runs into secrecy or blocking laws.
If either the offeror or offeree dies or becomes mentally incompetent before the offer is
accepted, the offer is automatically terminated.
If an agent’s act causes loss to the third person, that third person may generally hold the
agent liable for the loss.