Archives: Solution Manual
978-0077733711 Chapter 35 Solution Manual
Chapter 35 – The Agency Relationship V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. Agency power to act for a principal must come from the principal. Euclid did not confer on Del-Mar any power to act for Euclid or […]
978-0077733711 Chapter 35 Lecture Note
Chapter 35 – The Agency Relationship CHAPTER 35 THE AGENCY RELATIONSHIP I. OBJECTIVES This chapter acquaints students with the formation of the agency relation, some basic agency concepts, the agent’s duties to the principal, the principal’s duties to the agent, […]
978-0077733711 Chapter 34 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Yes. The bank breached its contract with the depositor by allowing the unauthorized transfer of funds from the account. A bank may charge against the account of a 2. Yes. The check […]
978-0077733711 Chapter 34 Lecture Note
CHAPTER34 CHECKS AND ELECTRONIC TRANSFERS I. OBJECTIVES: The objective of this chapter is to discuss the Code provisions that govern the bank-customer relationship where the customer maintains a checking account. It also discusses some of the evolving law concerning electronic […]
978-0077733711 Chapter 33 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Yes. Every indorser is obligated that upon dishonor and notice of dishonor and protest, he will pay the instrument to the holder. Unless the indorser qualified the indorsement, the 2. Yes. Where […]
978-0077733711 Chapter 33 Lecture Note
CHAPTER 33 LIABILITY OF PARTIES I. OBJECTIVES: The objective of this chapter is to explain the various ways a person can become liable on a negotiable instrument and the nature of the liability incurred. The chapter also discusses the various […]
978-0077733711 Chapter 32 Solution Manual
VI. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. No. Elgin Bank had to repay O.K. Moving & Storage for all the restrictively indorsed checks payable to it that the bank had deposited to Raye Walker’s account. The bank had a […]
978-0077733711 Chapter 32 Lecture Note
CHAPTER 32 NEGOTIATION AND HOLDER IN DUE COURSE I. OBJECTNES: The objective of this chapter is to discuss the concepts of negotiation and holder in due course and to detail the requirements for qualifying as a holder in due course […]
978-0077733711 Chapter 31 Solution Manual
VII. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. The instrument is the order instrument known as a draft. That it contains an “order” as opposed to a “promise” differentiates it from the promissory note category and because it is 2. […]
978-0077733711 Chapter 31 Lecture Note
CHAPTER 31 NEGOTIABLE INSTRUMENTS I. OBJECTNESS: The objective of this chapter is to introduce students to the nature and advantages of negotiable instruments and to discuss the requirements for negotiable instruments so as to lay a foundation for three chapters […]
978-0077733711 Chapter 30 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. The court considered the CR to be an exempt “household good” but denied the exemption for 2. No. The court held that the plain reading of the term ‘dwelling house” does not […]
978-0077733711 Chapter 30 Lecture Note
CHAPTER 30 BANKRUPTCY I. OBJECTIVES: This chapter is intended to provide a survey of the law of bankruptcy in order to acquaint the student with the purpose, approach and major concepts embodied in the Bankruptcy Act. After reading the chapter […]
978-0077733711 Chapter 3 Solution Manual
Chapter 03 – Business and the Constitution V. ANSWERS TO PROBLEM CASES: 1. The Supreme Court ruled in favor of Jones, holding that under the circumstances, he had been denied due process. When the mailed notice of the tax sale […]
978-0077733711 Chapter 3 Lecture Note Part 2
Chapter 03 – Business and the Constitution b. c. What, then, is commercial speech? As noted in the text, the Supreme Court has normally defined it as speech that proposes a commercial transaction. (Actually, the Court’s usual formulation refers to […]
978-0077733711 Chapter 3 Lecture Note Part 1
Chapter 03 – Business and the Constitution CHAPTER 03 BUSINESS AND THE CONSTITUTION I. OBJECTIVES: This chapter is meant to acquaint students with the most important business-related aspects of constitutional law. We therefore do not attempt to cover constitutional law […]
978-0077733711 Chapter 29 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Grinnel Brothers can argue that the drums were “consumer goods” and therefore exempted from the filing requirements of 9-401 by 9-302. While this argument might have merit in many situations, here the […]
978-0077733711 Chapter 29 Lecture Note
CHAPTER 29 SECURITY INTERESTS IN PERSONAL PROPERTY I. OBJECTNES: This chapter is intended to give the students an understanding of the Code rules that govern secured transactions in personal property. After reading the chapter and attending class, a student should […]
978-0077733711 Chapter 28 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Yes. The court held that a surety has a defense against performance of his obligation if the creditor failed to disclose facts that materially increased the surety’s risk. Here, the creditor was […]
978-0077733711 Chapter 28 Lecture Note
CHAPTER 28 INTRODUCTION TO CREDIT AND SECURED TRANSACTIONS I. OBJECTIVES: The objective of this chapter is to provide some overview and historical perspective on credit transactions and then to survey three topics: common law liens, sureties and guarantors, and . […]
978-0077733711 Chapter 27 Solution Manual
Chapter 27 – Insurance Law V. ANSWERS TO PROBLEM CASES: 1. World Trade Center Properties, LLC v. Hartford Fire Insurance Co., 345 F.3d 154 (2nd Cir. 2003). The Second Circuit Court of Appeals holds that under the definition of occurrence […]
978-0077733711 Chapter 27 Lecture Note
Chapter 27 – Insurance Law CHAPTER 27 INSURANCE LAW I. OBJECTIVES: This chapter is designed to acquaint students with important components of insurance law and to familiarize them with specialized concepts and issues that relate to specific types of insurance. […]
978-0077733711 Chapter 26 Solution Manual
Chapter 26 – Estates and Trusts V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. A will can be revoked in a number of ways, such as marking out, burning, destroying, or making a subsequent will. None of these appeared […]
978-0077733711 Chapter 26 Lecture Note
Chapter 26 – Estates and Trusts CHAPTER 26 ESTATES AND TRUSTS I. OBJECTIVES This chapter is designed to acquaint students with legal rules and procedures regarding the transfer of property at death, planning for disability, and planning devices that can […]
978-0077733711 Chapter 25 Solution Manual
V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1 Yes. The trial court awarded them damages of$1,030 on their counterclaim and ruled against 2. Yes. Because the lease did not contain a clause regarding the charge for carpet cleaning, any attempt […]
978-0077733711 Chapter 25 Lecture Note
CHAPTER 25 LANDLORD AND TENANT I. OBJECTIVES This chapter is designed to acquaint students with the legal doctrines and trends affecting the landlord-tenant relationship. After reading the chapter and attending class, a student should be able to: 1. Recognize that […]
978-0077733711 Chapter 24 Solution Manual
V. ANSWERS TO PROBLEM CASES 1. Fixtures. The court applied the three factors that cause property to be considered 2. Yes. The court found that Schlichtling’s use of the disputed property met the requirements for adverse possession. The fact that […]
978-0077733711 Chapter 24 Lecture Note
Chapter 24 – Real Property CHAPTER 24 REAL PROPERTY I. OBJECTIVES This chapter is designed to teach students about the nature of real property, the basic rights and responsibilities that attend real property ownership, the ways in which interests in […]
978-0077733711 Chapter 23 Solution Manual
Chapter 23 – Personal Property and Bailments V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. The property should not be considered mislaid property. Mislaid property, to which Paset as finder would not acquire any rights, is property that is […]
978-0077733711 Chapter 23 Lecture Note
Chapter 23 – Personal Property and Bailments CHAPTER 23 PERSONAL PROPERTY AND BAILMENTS I. OBJECTIVES This chapter’s objectives are to acquaint students with the concept of property, to examine the various classifications of property, and to explore the ways that […]
978-0077733711 Chapter 22 Solution Manual
Chapter 22 – Remedies for Breach of Sales Contracts V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. Yes. The liquidated damages clause providing that the minimum value of any lost or damaged photograph was to be $1,500, but a higher […]
978-0077733711 Chapter 22 Lecture Note
Chapter 22 – Remedies for Breach of Sales Contracts CHAPTER 22 REMEDIES FOR BREACH OF SALES CONTRACTS I. OBJECTIVES: This chapter is intended to acquaint the student with the remedies available to an injured party, the Code rules that govern […]
978-0077733711 Chapter 21 Solution Manual
Chapter 21 – Performance of Sales Contracts V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1, Yes. The owner of the potato processing plant breached its contracts with the two potato growers by waiting to reject the potatoes grown by the […]
978-0077733711 Chapter 21 Lecture Note
Chapter 21 – Performance of Sales Contracts CHAPTER 21 PERFORMANCE OF SALES CONTRACTS I. OBJECTIVES: This chapter builds on the previous two chapters in which the formation and basic terms of sales contracts, including warranties, are discussed. This chapter deals […]
978-0077733711 Chapter 20 Solution Manual
Chapter 20 – Product Liability V. ANSWERS TO PROBLEM CASES: 1. No. The Illinois Court of Appeals held that an express warranty was created when the seller of the used car stated that the car was in “good mechanical condition.” […]
978-0077733711 Chapter 20 Lecture Note
Chapter 20 – Product Liability CHAPTER 20 PRODUCT LIABILITY I. OBJECTIVES: This chapter is designed to acquaint students with the main theories of product liability recovery and the various collateral problems those theories present. After finishing with the material in […]
978-0077733711 Chapter 2 Solution Manual
Chapter 02 – The Resolution of Private Disputes V. ANSWERS TO PROBLEM CASES: 1. No. A trial judge’s decision not to admit evidence is legal in nature, because it applies the law 2. No. The U.S. Supreme Court held that […]
978-0077733711 Chapter 2 Lecture Note
Chapter 02 – The Resolution of Private Disputes CHAPTER 02 THE RESOLUTION OF PRIVATE DISPUTES I. OBJECTIVES: As its title suggests, this chapter is concerned with the resolution of disputes that give rise to civil cases. For the most part, […]
978-0077733711 Chapter 19 Solution Manual
Chapter 19 – Formation and Terms of Sales Contracts V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. No. The court noted that the Uniform Commercial Code applies only to transactions involving the sale of goods. If a contract involves only […]
978-0077733711 Chapter 19 Lecture Note
Chapter 19 – Formation and Terms of Sales Contracts CHAPTER 19 FORMATION AND TERMS OF SALES CONTRACTS I. OBJECTIVES: In chapters 8-18, the student studied the common law rules that govern the creation and performance of contracts generally. This chapter, […]
978-0077733711 Chapter 18 Solution Manual
Chapter 18 – Performance and Remedies V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. The Reservation Agreement was not a contract for a specific plane, but rather a contract to maintain a place in line to buy a plane […]
978-0077733711 Chapter 17 Solution Manual
Chapter 17 – Rights of Third Parties V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. Yes. Even though Schauer’s ex-husband did not assign the ring to her, he nevertheless made the contract with Mandarin Gems for the “sole and stated […]
978-0077733711 Chapter 16 Solution Manual
Chapter 16 – Writing V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. The court determined whether the statute of frauds was satisfied under the merchant’s memo exception. The sticking point was whether the farmer was a merchant within the […]
978-0077733711 Chapter 16 Lecture Note
Chapter 16 – Writing CHAPTER 16 WRITING I. OBJECTIVES This chapter is designed to acquaint students with the circumstances under which a contract must be in writing. It is also designed to teach them about the operation of the parol […]
978-0077733711 Chapter 15 Solution Manual
Chapter 15 – Illegality V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. The employees. The court noted that the plaintiffs would have a legitimate business interest in protecting its proprietary system through a restrictive covenant if the covenant was reasonable […]
978-0077733711 Chapter 15 Lecture Note
Chapter 15 – Illegality CHAPTER 15 ILLEGALITY I. OBJECTIVES: This chapter is designed to teach students about the circumstances under which a contract cannot be enforced because it violates public policy. After reading the chapter and attending class, a student […]
978-0077733711 Chapter 14 Solution Manual
Chapter 14 – Capacity to Contract V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Yes. The issue is whether the medical care provided to Williams was a necessary. Normally, items provided to a minor that are supplied to the minor […]
978-0077733711 Chapter 14 Lecture Note
Chapter 14 – Capacity to Contract CHAPTER 14 CAPACITY TO CONTRACT I. OBJECTIVES This chapter is designed to familiarize students with the circumstances under which a person may avoid a contract because of lack of capacity. After reading the chapter […]
978-0077733711 Chapter 13 Solution Manual
Chapter 13 – Reality of Consent V. ANSWERS TO PROBLEMS AND PROBLEM CASES 1. No. A contract may be rescinded on the ground of mutual mistake when both parties have an erroneous assumption about a matter basic to the contract. […]
978-0077733711 Chapter 12 Solution Manual
Chapter 12 – Consideration V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. Yes. Skebba fully performed on his duties in reliance on the promise, which was exactly what Kasch hoped for and expected. To allow Kasch to escape liability would […]
978-0077733711 Chapter 11 Solution Manual
Chapter 11 – The Agreement: Acceptance V. ANSWERS TO PROBLEMS AND PROBLEM CASES: 1. No. In this case Citibank had made an offer to Wilson about a revised agreement. The court noted that acceptance need not be made by a […]