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A trade fixture is a fixture that is traded in by the owner when purchasing new fixtures.
If a contract appears to be legal on its face, it will be enforceable even if it was entered
into for an illegal purpose.
When a person who performs continuing services for another receives a fixed payment
that does not depend on the existence of profit and is not affected by losses, that person
is a partner.
If the parties involved agree that personal property will be considered a fixture, it will
be deemed to be a fixture without the application of legal tests.
A letter of credit agrees to provide the seller with needed currency exchanges when
transactions with foreign buyers occur.
When the principal ratifies the act of the unauthorized person, such ratification does not
release the unauthorized person from liability, since he or she acted without authority.
Individuals can seek criminal and civil penalties against those who violate consumer
protection statutes.
Administrative agencies may make the rules, police the community to see the rules are
obeyed, and sit in judgment to determine violations of their rules.
In applying the stakeholder model of business ethics, only the interests of important
constituencies affected by an action need to be satisfied.
