When a breach of contract occurs, the innocent injured party has a duty to mitigate the
damages.
A certified check is a check that has been signed by a notary public.
A financing statement is effective for five years from the date of filing.
An insurance policy is an example of a right that can be assigned.
The state can suspend the entity’s corporate status until the taxes are paid or even
dissolve the corporation for failing to pay taxes.
A franchisee may be required to pay for certain of the franchisor’s administrative
expenses.
When one party uses fraud to induce another party to enter into an illegal bargain, the
second party will be allowed to recover for the performance or its value.
The federal government and the states have the same constitution.
A target corporation is a corporation being acquired through the purchase of a
substantial number of the voting shares of its stock.
Writers acquire ownership of their work through production.
Creative Solutions Corporation (CSC) sells business application softwareaccounting
and bookkeeping programs, blank business forms, inventory control functions, and the
likein different combinations, in different packages, at different prices, downloadable
online. To complete a deal, a purchaser clicks on a button that, with reference to certain
terms, states, “I agree.” What is this sort of agreement called? Do the parties have a
binding, enforceable contract that includes the terms? Explain.
A pipe in Gert’s house springs a leak. Gert contracts with Holly’s Plumbing &
Construction Company to repair the pipe and fix the damage to Gert’s house. Gert pays
10 percent of the price in advance. Holly’s does the work, but Gert refuses to pay the
rest of the price. What can Holly’s do, and how is it done?
Merchants are not required to warrant that the goods they sell are fit for their ordinary
purpose.
Under the Electronic Signatures in Global and National Commerce Act, a signature may
not be denied legal effect solely because it is in electronic form.
When a surety or guarantor pays a debt owed to a creditor, he or she acquires any right
that the creditor had against the debtor.
A certification mark distinguishes products approved, or “certified,” by the government.
A coinsurance clause provides that two or more people will be covered by the same life
insurance policy.
The price that a secured party obtains on a sale of collateral is all that the creditor can
recover on the debt.