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If an offer does not state how long it shall remain open, it remains open for ten days.
An agency may arise by appointment, conduct, ratification, or operation of law.
A person who is prevented from enforcing a contract because of the statute of frauds
also is prevented from recovering the value of services, property, or money furnished
the other party to the oral contract.
An incidental beneficiary is the same thing as a third-party beneficiary.
A claim of undue influence will be unsuccessful unless the contracting parties have a
close relationship of trust.
When it is claimed that a contract is too indefinite to be enforced, a court will do its best
to find the intent of the parties and thereby reach the conclusion that the contract is not
too indefinite.
Goods are called identified goods when they have been selected as the goods called for
by a sales contract.
A person who acquires the instrument on which the last indorsement is blank becomes
the holder.
A federal agency planning to adopt a new regulation must give public notice of such
intent and then hold a hearing at which members of the public may express their views
and make suggestions.
Extortion and blackmail are exactly the same.
A tenant in possession has control of the property and is therefore liable when the
tenant's failure to use due care under the circumstances causes harm to licensees or
invitees.
A bank always is liable to the depositor on a counterfeit check that the bank has paid.
Creditors cannot legally request collateral on a previously unsecured loan.
As a general rule, a hotelkeeper has a lien on the property of boarders or lodgers.
Governments may regulate prices but not credit terms.
