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If the seller breaches the sales contract, the buyer has a duty to cover.
The concept of ____________________ resulted in the establishment of three branches
of government.
Rice hired Carter, a real estate broker, to buy a certain piece of land from King for
$25,000. Carter signed a contract agreeing to pay King $30,000. When Rice heard, she
refused to go through with the contract. What action can King take?
Whether the seller is a merchant or a nonmerchant and if no shipment or delivery is
required by the seller, risk of loss passes when the buyer actually takes possession of
the goods.
In a bilateral contract, only one party makes a promise.
If a contract can be carried out within one year, it need not be in writing.
Blair took his motorcycle to Ace Services for repair. If Blair fails to pay for the repairs,
what action may Ace take and on what basis?
A person who receives a negotiable instrument as a gift is a holder in due course.
A breach of contract that occurs before the performance date is called a(n)
____________________.
If a premium is not paid on the due date, the policy lapses.
