The rights and duties of a bank and its customer are contractual.
Insurance is classified according to the amount of the payment on a claim.
The UCC imposes some different rules on merchants.
An oral contract for a sale of goods for more than $5,000 is not enforceable even if the
parties to it admit to its existence in court.
The main individual beneficiaries of stock buybacks are corporate executives.
Stock buybacks are illegal and serve no legitimate purposes.
Buying or selling securities on the basis of nonpublic information is illegal only if the
profit from the transaction is unreasonable.
Hoppy steals two checks from Eagle Retail Stores, Inc.a blank check and a check
payable to the order of General Supplies Company (GSC), drawn on Eagle’s account
with First National Bank. Hoppy forges Eagle’s signature on the blank check and makes
it payable to himself. Hoppy forges GSC’s indorsement on the back of the check
payable to GSC, and adds “Pay to the order of Hoppy.” At Friendly Credit, Inc., Hoppy
indorses the back of both checks with his own name and gives them to Friendly for
cash. Friendly does not know about the theft or the forged signatures and presents the
checks to First National, which pays them. Eagle, which was not negligent, discovers
the forgeries and asks First National to recredit its account. Who suffers the loss on
each check?
In a destination contract, the seller is required to deliver the goods to a particular
destination.
A business firm may have to comply with the laws of any jurisdiction in which it
actively targets customers.
The measure of damages for breach of a construction contract depends on which party
breaches and when.
A motion for a new trial will be granted only if a constitutional issue is involved.
Owen plans to open Owen’s Pets Store, a pet sales and pet supplies outlet, and to hire
Quimby and Ruth. Owen will invest only his own money. He does not expect to make
any profit for at least two years and to make almost no profit for the first three years,
but he hopes to expand eventually. Which form of business organization would be most
appropriate? What are the chief characteristics, advantages, and disadvantages of this
form of business organization? If Owen wants to obtain additional capital to expand the
business, but does not want to lose control of the firm, what is his best option?
Any lawful contract can potentially form the basis for an action based on wrongful
interference with a contractual relationship.
The legality of an action is always clear.
Implied warranties can arise from a “course of dealing.”
A creditor’s composition agreement may be entirely enforceable.