An express trust may be found if the intent of the grantor to create a trust is
unmistakable.
A person who knows that an instrument is overdue or has been dishonored cannot
become a holder in due course.
The central idea behind consideration is that the parties have intentionally entered into a
bargained-for exchange with one another and have given each other something in
exchange for a promise or performance.
The Family Entertainment and Copyright Act of 2005 established criminal penalties for
willful copyright infringement of musical works or motion pictures, but does allow for
the sale and use of technology that can skip content of films in order to edit out
language, violence, or sex.
Agency relationships are governed primarily by federal statute.
If Dan subleases his apartment to Susan for the summer, Susan is primarily liable to pay
the landlord the rent.
A preliminary hearing is held in a criminal case to determine whether there is probable
cause to believe the defendant is the one who committed the crime.
Pedro has a contract to build a garage. He delegates the wiring job to a local electrician
who improperly performs it. Pedro is responsible, even though he delegated the duty.
Historically, privity of contract was not a requirement for a cause of action based on an
accountant’s liability for negligence.
When purchasers are willing to pay a premium for a block of shares that conveys
control, almost all courts today require the controlling shareholders to turn over this
control premium to the corporation’s treasury.
Under the CISG, what are the damages for breach of contract by one party? Does the
aggrieved party have any responsibility after the breach occurs?
Ron offers to sell Pete his stamp collection. Pete gives Ron $10 to induce him to keep
his offer open for a week. If Ron decides on day four of the week that he really does not
want to sell to Pete, he can revoke his offer without fear of a breach of contract lawsuit
being filed against him.
If the seller of goods is an expert and gives an opinion with regard to the goods, the
seller may be liable for breach of warranty.
What are the principal attributes of a corporation?
The elements of embezzlement are included in larceny.
Jerry bought a stereo from SX Company “on approval.” The risk of loss passed to Jerry
when he took possession of the stereo.