Forgery includes signing another person’s name to a check with the intent to defraud.
The obligation of all parties to perform in good faith is the same because everyone is
required to be honest.
A negotiable instrument may be partly printed and partly typewritten.
The Overseas Private Investment Corporation (OPIC) offers asset protection insurance
against risk of loss to plant and equipment, as well as loss of deposits in overseas bank
accounts, to companies that qualify on the basis of the involvement of a ‘substantial
U.S. interest.”
A disparate impact exists when an employer’s facially neutral employment practices
have a significantly adverse impact on a protected group and the practice is not shown
to be job-related and necessary.
A consumer may waive all defenses otherwise provided for by law.
A bank must be given a reasonable amount of time to put a stop payment order into
effect.
The past performance of the parties under a continuing contract is important in
determining what the contract means.
When a security interest in property is inferior to other interests and claims to the
property, it is said to be perfected.
A probate court is an example of a general trial court.
The requirement of privity of contract to allow recovery in a sales contract has been
widely rejected.
A security agreement need not describe the collateral involved.
Samuel signed a contract to purchase furniture on credit. The contract clearly set forth
in bold print all charges included in the cost of the credit, including the interest rate and
annual percentage rate. The seller informed Samuel that the seller regularly sold these
contracts to a finance company that paid it immediate cash and then collected from the
debtors. The seller further advised that the finance company did not want “the
headache” of determining the validity of consumer complaints and that therefore the
contract provided that the consumer waived all defenses concerning the furniture
against the finance company. The contract expressly provided that the seller would
remain responsible for any non-conformities in the furniture or breaches of contract on
its part. The furniture was defective, but the finance company is demanding that Samuel
make the payments to it required by the contract and resolve its disputes with the seller
of the furniture. Samuel consults you regarding his rights. What is your response?
The Fair Credit Reporting Act applies only to consumer credit.
If a contract is unclear, it will be interpreted against the party who drafted it.