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Kris is an administrative assistant with Little Financial Corporation, but has no
authority to sign Little Financial checks. Kris orders merchandise from My-T-Fine
Retail Company delivered to her home and pays with a Little Financial check, signing
"Little Financial Corp. by Kris, admin. assist. My-T-Fine does not know that Kris has
no authority to sign the check. Who is liable on the check, and why?
Contract law provides stability and predictability for buyers and sellers.
Some states have passed laws prohibiting the withdrawal of limited partners from a
limited partnership.
Under the Statute of Frauds, a contract that is in writing is void.
A trade name can serve as a valid signature.
To commit an intentional tort, a person must intend to perform an act that causes harm.
A business firm's profits may suffer if the firm is not a "good corporate citizen.
A compromise that arises out of a dispute over the obligations under a contract may be
substituted for the original contract.
A coinsurance clause provides that two or more people will receive payment on a claim
under the same insurance policy.
An oral defamatory statement must be communicated to a third party to be actionable.
Goods associated with real estate never fall within the scope of UCC Article 2.
Promissory estoppel requires reliance of a substantial and definite character.
A cashiers check is an instrument in which a bank draws a check on itself.
State regulation, when not preempted, may cover many of the same activities as federal
regulation.
A contract under which a seller forbids a buyer to purchase products from the sellers
competitors is a tying arrangement.
The Civil Rights Act of 1964 prohibits job discrimination on the basis of intelligence.
Those who knowingly violate the Clean Air Act are exempt from liability.
A signature on a negotiable instrument must be made manually.
Corporate bylaws are the companys governing rules.
Generally, a unilateral mistake affords the mistaken party a right to relief from the
contract.
