Performance of an accord discharges an original contractual obligation.
An assignee can compel the obligor to perform.
In a situation involving a price-fixing agreement, normally each competitor is liable for
the total amount of any damages.
Most states do not limit the governments ability to take private property to give to
private developers.
A water pipe bursts, flooding an Invidious Workplace Company utility room and
tripping the circuit breakers on a panel in the room. Invidious contacts Jordan, a
licensed electrician with five years experience, to check the damage and turn the
breakers back on. Without testing for short circuits, which Jordan knows that she should
do, she tries to switch on a breaker. Jordan is electrocuted and disabled, but survives to
sue Invidious for damages, alleging negligence. What might Invidious claim in
defense?
A security interest is not enforceable after the creditors rights have attached to the
collateral.
Signal Sets Company contracts to deliver one hundred 55-inch 3D HD television sets to
a new retail customer, Tuner TV Store, on May 1, with payment to be made on delivery.
Signal tenders delivery in its own truck. Tuners manager notices that some of the
cartons have scrape marks. Tuners owner phones Signals office and asks whether the
sets might have been damaged as they were being loaded. Signal assures Tuner that the
sets are in perfect condition. Tuner tenders Signal a check, which Signal refuses,
claiming that the first delivery to new customers is always for cash. Tuner promises to
pay the cash within two days. Signal leaves the sets with Tuner, which stores them in its
warehouse pending its “Grand Opening Sale” on May 15. Two days later, Tuners
stocker opens some of the cartons and discovers that a number of the sets are damaged
beyond ordinary repair. Signal claims Tuner has accepted the sets and is in breach by
not paying on delivery. Will Signal succeed on these claims? Explain.
An acceptance sent by means not expressly or impliedly authorized is not effective until
it is received.
If the parties to a contract for a sale of goods have not agreed on a price, a court will
determine a reasonable price at the time for delivery.
A delegation relieves the party making it of the obligation to perform.
A principal whose identity is known by a third party with whom an agent contracts on
the principals behalf is a disclosed principal.
Generally, a corporation that purchases the assets of another corporation is not
automatically responsible for the liabilities of the selling corporation.
Capital Investment Corporation and Durable Goods, Inc., form a business trust. Excel
Company and Finest Corporation form a joint stock company. Growing Acres
Corporation and Hybrid Farms, Inc., form an incorporated cooperative. What features
do these combinations of business organization have in common?
Manufacturers are required to report on any products intended for sale if the products
have proved to be hazardous.
A written prenuptial agreement is enforceable.
The doctrine of commercial impracticability only extends to problems that could have
been foreseen.