April 14, 2015
Review for Exam III 45 Multiple Choice, 10 True/False, No Essay
1. Janet is the secured party in a secured transaction with Michelle. Janet could also be
referred to as the: Secured Creditor
2. A writ of attachment is a court order tha
Quiz 1 1. What is the definition of Stare Decisis? A common law
doctrine under which judges are obligated to follow the
precedents established in prior decisions. Stand on decided
cases Judge-made law. A court should not overturn its own
CHAPTER 16: Formation of Sales and Lease Contracts
1. The Uniform Commercial Code- Comprehensive Coverage of the UCC
Single Integrated Framework for Commercial Transactions
2. The Scope of Article 2 & 2A- Governs contracts for sale of goods
- UCC 2 preemp
Chapter 8 Agency Formation and Duties
- Agency = Principal and Agent.
- Agency is the most common and most important legal relationship.
- Principals use agents to be able to conduct multiple business operations
simultaneously in various locations.
1. A sole proprietor is?
A. A formal business entity that meets certain IRS requirements in order to qualify for special
income tax treatment
B. The simplest form of business in which the owner is the business.
C. An agreement by tw
CONTRACT Rejection of offer- Counter offer, question revoke offer? No, only if counter offer is made. Anytime
before buyer accepts I can revoke my offer
CONTRACT Bilateral contract- I promise to do something for you you promise to do something for I. Mist
Legal Problems 2
Problem: 1. While walking down the sidewalk on the way to her birthday party, little
Wanda June is run over by Phred, who lost control of his ice cream truck when he
reached back behind his seat for a Dinky Bar, and was stung by a bee. Wa
March 19, 2013
1. Discuss jurisdiction in the cases London v. Superquick, London v. Flash, and London v.
In the cases, London filed a lawsuit in New York but the party was hosted party was hosted in