A firm offer is effective only if the merchant receives consideration to keep the offer
open.
Even if part of a contract is illegal, the court may enforce a divisible, legal part of the
contract.
Property includes the rights of any person to possess, use, enjoy, and dispose of a thing
or object of value.
Some courts have rejected the requirement of privity for malpractice and instead
approach each situation on a case-by-case basis.
When a minor avoids contracts, the minor always must return the other contracting
parties to their original financial positions.
A liquidated damages clause is a contractual provision stipulating the amount of
damages to be paid in the event of default or breach of contract.
The right of privacy does not apply to intrusions into our privacy by means of new
technology.
Corporations are subject to a form of double taxation.
To prevail in an action for trade dress infringement, a plaintiff must prove that its trade
dress is distinctive and nonfunctional and the defendant’s trade dress is confusingly
similar to the plaintiff’s.
If an insurer denies liability for a loss, the insured or the beneficiary of the policy has
the burden of proving that there was a loss that came within the coverage of the policy.
When the price of the goods is $500 or more, a writing signed by the defendant is
required in all cases.
In a sale or return transaction, until the actual return of the goods is made, title and risk
of loss remain with the buyer.
Officers that cause a corporation to break a contract with third party are liable to the
third party even if they acted in good faith to advance the interests of the corporation.
A buyer may reject the goods or revoke the acceptance for any defects in the goods.
A copyright owner may prohibit even limited use of copyrighted material if it is used
for parody or criticism.
Sally Gomez is interested in starting a new business. Although Gomez has developed
her business plan and is ready to implement her ideas, she lacks the necessary finances
to begin her new business. Along with a lack of finances, Gomez worries about the
potential liability involved with starting a new business. Gomez would hate to lose all
that she has personally accumulated to date in the event of a successful lawsuit against
her. She is considering a sole proprietorship, a partnership, or a corporation as the
organizing structure of her new venture. Which type of business would best serve
Gomez’s needs at this given time?
Trade dress refers to the packaging look and overall image of a product.
Decisions made by agencies are more likely to be reversed than to be accepted by the
court on appeal.
Under a CF contract, the seller must get the goods to a carrier and buy an insurance
policy in the buyer’s name to cover the goods while in transit.
Renewal provisions in a lease are strictly construed against the tenant.