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Everett delivers to Neely nonconforming goods. Neely accepts the goods, but upon
discovering that they are defective, he rightfully revokes acceptance by timely notice to
Everett. Discuss which party bears the risk of loss if the goods are then destroyed
through no fault of either Everett or Neely.
If the seller has the right to cancel, he may recover damages for breach without having
to tender any further performance.
Respondeat superior has no application to situations where a partner commits a tort,
because only the partner and not the partnership is liable.
Randy, Mona, and Richard are partners. Under the UPA, a creditor of their partnership
must name all three partners as defendants in a suit on a contract obligation of the
partnership.
The RULPA recognizes the right of a limited partner to bring an action on the behalf of
a limited partnership to recover a judgment in its favor if the general partners having
authority to do so have refused to bring the action.
A cease and desist order issued by the FTC directs a party to stop a certain practice or
face punishment, such as a fine.
The Revised Act provides that at least two persons need to act as incorporators, though
more may do so.
