The United States is the worlds largest exporter of agricultural products.
An agreement may violate public policy even if the agreement does not require a party
to commit a crime, tort, or violate a statute.
The prohibition against wrongful discharge prohibits an employer from firing a worker
for a bad reason.
The Supreme Court has held that parody of copyrighted material is a per se violation of
copyright law.
In negligence cases the courts often refer to the term “reasonable person.” What is
meant by this term?
Ambiguities in contracts are always interpreted in favor of the side that wrote the
contract, since they are the ones who know what the provision is supposed to mean.
Premier Enterprises sold Watson unregistered stock which was not exempt. The 1933
Act imposes liability on Premier, and Watson can demand rescission if he still owns the
stock.
Appellate courts conduct trial de novo, rehearing all evidence
Unlike with patents, the ideas underlying copyrighted material need not be novel.
What does the term ‘substantial performance” mean? What factors are generally
considered when determining whether one of the parties has substantially performed?
Patrick owned an acre of land which was being divided into building lots. Nancy was
interested in purchasing the corner lot. In a signed writing, Patrick stated “I will sell
Nancy Grimes a lot on Route 70 for $5,500 cash, payable on April 30, 2012. This
writing is sufficient under the statute of frauds to make the contract enforceable.
L & M loaned Joan $400 so that she could buy her textbooks for the current semester. L
& M’s terms for repayment of the loan (including interest) are, $200 in two months,
$200 in four months, and another $100 at the end of the fifth month. The legal
maximum rate of interest on this type of loan is six percent per annum. L & M’s loan is
usurious.
The only defense available to a defendant in a per se violation is that the violation never
occurred.
Discuss the pros and cons of gambling and whether there might be any reason for a
court or legislature to treat gambling on credit any differently from gambling itself.
Discuss the purposes of the “business judgment rule.”
Denton agreed to build a cedar deck for the Thrashers for $7,000. After he began the
work, the Thrashers asked him to add cedar flower boxes at one side. Denton replied he
would, but it would cost an additional $600. The Thrashers would not be obligated to
pay the additional sum because the original agreement already obligated Denton to
complete the deck for $7,000.
Nancy is a life tenant on a 78-acre farm. The person who owns the future interest in the
farm is entitled to enter upon the farm to make sure Nancy is not damaging the
property.
Contracts in which one party agrees to buy all his requirements of certain goods from
the other party are generally unenforceable because there is no definite amount.
Halbeck, LLC was negligent in its audit of E-treme, Inc. Unbeknownst to Halbeck,
E-treme used the financial statements to secure a loan from Great State Bank. Under the
Ultramares doctrine, Halbeck will be liable to Great State Bank for its losses on the
loan.
Concurrent conditions arise when there is both a condition precedent and a condition
subsequent.