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A partner may pursue his or her own interests without automatically violating the
partner's fiduciary duties to the partnership and the other partners.
Intentional discrimination by an employer against an employee is known as
disparate-treatment discrimination.
An agent can represent two principals in the same transaction as long as neither of them
knows about it.
A power of attorney is usually limited to a specific context, such as negotiating a deal
with a buyer.
The mere possession of land without right is called a tenancy at will.
Suretyship and guaranty provide debtors with the right to seek payment from a third
party if the debtor, or principal, desires to default on his or her obligations.
All parties to a negotiable instrument will be discharged when any party liable on it
pays to a holder the full amount due.
When no delivery terms are specified in a contract for a sale of goods, there is no basis
for determining a remedy.
A sale of real estate is a complicated transaction that involves certain formalities that
are not required in a sale of goods.
A person who takes a negotiable instrument from a thief cannot become an HDC even if
he or she acted honestly in the process of acquiring the instrument.
A failure to follow generally accepted accounting principles and generally accepted
auditing standards is proof of a lack of due diligence.
A full warranty requires free repair or replacement of any defective part.
An instrument is dishonored when the party to whom the instrument is presented
refuses to pay it.
An accountant is always liable for a misleading statement that affects the price of a
security, even if the accountant acted in good faith.
If a bank wrongfully dishonors a cashier's check, a holder can recover only the amount
of the check.
