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An agent's liability as a party to a contract with a third person is not affected by the
degree of disclosure.
A bailee can pass good title to a good-faith purchaser, even when the sale was not
authorized by the owner and the bailee has no title to the goods but is in the business of
selling those particular types of goods.
Acceptance of an offer to form a unilateral contract need not be communicated to the
offeror to be effective.
A direct sale by an American firm to a customer abroad, with terms of payment
commonly based on an irrevocable letter of credit, is an import sale.
A forged endorsement must be reported within one year of the time that the bank
statement is received.
Renewal provisions in a lease are strictly construed against the tenant.
COD is a shipping term that requires the buyer to pay in order to gain physical
possession of the goods.
A director is disqualified from taking part in corporate action with respect to a matter in
which the director has an undisclosed conflicting interest.
The parol evidence rule is based on the theory that any oral agreement was abandoned
when the contact was written.
