LGST 76031

subject Type Homework Help
subject Pages 6
subject Words 531
subject Authors David P. Twomey, Marianne M. Jennings

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page-pf1
An agent's liability as a party to a contract with a third person is not affected by the
degree of disclosure.
If questions of fact are involved, the court will decide the case based on the pleadings
alone.
The maker is the person who writes out and creates a promissory note.
Future goods can be identified before they are manufactured.
page-pf2
An employer can assign to another employer the right to have an employee work.
To enforce an implied warranty of an indorser, the party claiming under the warranty
must give the indorser notice of the breach within fourteen (14) days after the claimant
learns or has reason to know of the breach and the identity of the indorser.
If an instrument bears a restrictive indorsement, any further transfer or negotiation is
effectively barred.
page-pf3
Ethical egoism believes that feeling guilty about poor ethical decisions will lead to
better future decisions.
A sole proprietor must file a certificate indicating that he or she is commencing
operations and pay a single organizational fee.
In most states the usury laws apply to loans made to both individuals and corporations.
A tender occurs when the holder of a check or other consumer transaction authorization
demands payment.
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Limited liability is not a feature of general partnership law.
A person cannot become a holder through a holder in due course unless that person
satisfies the requirements for holder in due course status.
Court decisions and statutes can take away rights created by the United States
Constitution.
page-pf5
Bankruptcy law does not regulate the manner in which the assets of the debtor are
distributed; instead, distribution of the debtor's assets is solely within the discretion of
the trustee.
Vesting refers to the ability of an employer to reclaim all of the funds it may have paid
into a former employee's retirement fund upon that employee's decision to resign.
An injured party that does not suffer an actual loss from the breach of a contract is
entitled to nominal damages.
The liability of an agent to a third person depends on the existence of authority and the
manner of executing the contract.
page-pf6
A warehouser is an insurer of goods.
Several layers of law are enacted at different levels of government to provide the
framework for business and personal rights and duties. At the base of this framework of
laws is constitutional law.

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