The roof in Rosalyn’s house springs a leak. She contracts with Shelter Roofing &
Restoration Company to repair the roof and fix the damage to the house. Rosalyn pays
10 percent of the price in advance. Shelter Roofing does the work, but Rosalyn refuses
to pay the rest of the price. What can Shelter Roofing do, and how is it done?
The UCC views the entire commercial transaction for the sale and payment for goods as
a single legal occurrence.
On a cashier’s check, the drawer is also always the payee.
A seller is prohibited from making an exclusive-dealing contract if the effect is to tend
to create a monopoly.
The general law of agency does not apply to negotiable instruments.
A transfer by assignment can make it possible for a transferee to receive more rights in
the instrument than the prior possessor had.
If goods identified to a contract are destroyed through no fault of either party, both
parties are excused from performance.
A bankruptcy court may deny a discharge based on the debtor’s conduct.
On dissolution, the creditors of the partnership, but not the creditors of the individual
partners, can make claims on the partnership’s assets.
National Pollutant Discharge Elimination System permits can be issued even if a
discharge will violate water-quality standards.
When receiving a stale check for payment, a bank has no option but to pay the check.
Children under fourteen years of age are not allowed to work.
All oral contracts are enforceable under the UCC.
In a sale or return, a buyer has an option to return the goods and undo the sale.
When a customer makes a deposit, the customer becomes a creditor, and the bank a
debtor, for the amount deposited.
A client’s negligence is never a defense to a charge of negligence against an accountant.
Rini, the owner of Simply Sushi, is a sole proprietor. What are the chief characteristics,
advantages, and disadvantages of this form of business organization? Rini wants to
obtain additional capital to expand Simply Sushi, but she does not want to lose control
of the firm. As a sole proprietor, what is her best option to attain these goals?
Devoting time, energy, and skill to partnership business is a partner’s duty and is not a
compensable service.
The franchisor may require that the business use a particular organizational form and
capital structure.