A breach of contract may entitle the innocent party to rescind the contract.
Two persons can hold property only as tenants in common.
An attachment is a court-ordered seizure and taking into custody of property prior to the
securing of a judgment for a past-due debt.
Restrictions on exports may include tariffs.
On a lessees insolvency, the lessor can stop delivery of the goods.
Confiscation occurs when a government seizes a private property for a proper public
purpose and awards just compensation.
Debts based on fraud may be discharged under Chapter 13.
If, before the time for performance, a buyer communicates an intent not to perform, the
seller can consider the buyer in breach and pursue a remedy.
Article 2 of the UCC governs contracts for sales of goods.
A sole proprietor may own and manage any type of business.
An arbitrary use of ordinary words may not be trademarked.
Susan is the president of United Food Corporation, a wholesale grocery company. An
inspection by Tim, a government agent, uncovers unsanitary conditions caused by Val, a
United employee, in the United warehouse. Will, a United vice president, assures Tim
that the situation will be corrected, but nothing is done, which a later inspection reveals.
Susan knows nothing about any of this. Can United be convicted of a crime in these
circumstances? Can Susan be held personally liable?
An agent can take advantage of an agency relationship to make a ‘secret profit.
A market division by class of customer between rival firms violates antitrust law.
A cooperative may take the form of a corporation.
An employer may hire an illegal immigrant if the employer files a special form.
If a life insurance applicant pays a premium but dies before the physical exam, there is
obviously no coverage.
The primary responsibility for implementing air-quality standards for stationary sources
rests with state and local governments.
The law establishes rights, duties, and privileges that are consistent with the values of
society.