Explain both sellers’ and buyers’ remedies for breach of contract.
> Explain misrepresentation and how it differs from fraud.
> List seven ways in which a lack of a meeting of the minds may cause defective agreements.
> Identify the three ways in which an offer may be terminated.
> Explain and provide examples of the two requirements for a valid acceptance.
> Identify the first step in reaching agreement and forming a valid contract.
> Describe the enforceability of contracts in terms of valid, void, and voidable contracts.
> Identify the six elements of an enforceable contract.
> Explain the purpose of a contract.
> The IRS filed a lawsuit against Stern to collect unpaid income taxes, penalties, and interest that had amassed over 10 years. In response, Stern petitioned the court to disallow the IRS from collecting his tax debt, arguing that discrepancies existed bet
> Distinguish between agreements and contracts.
> Identify the sources of contract law.
> Describe the nature of a contract.
> Discuss how the Internal Revenue Service administers the collection of income taxes pursuant to the Sixteenth Amendment.
> Discuss the current state of constitutional law with respect to the Second Amendment.
> Explain the legal concept of liability and provide examples.
> Identify some of the major legal areas that impact health care.
> Identify other environmental issues for which there is growing concern.
> Identify several factors that influence the changing global climate.
> Identify several types of pollution that are of great concern to society.
> Rensch left two diamond rings for cleaning at Riddle’s Mall in Rapid City, South Dakota. Riddle’s had advertised free ring cleaning to the public. When Rensch returned for the rings, he found that a clerk had mistakenly given them to another customer. Th
> Describe the theories of law under which private citizens may sue persons and businesses that harm the environment.
> Describe how the government regulates businesses in relation to the environment.
> Explain how the federal government regulates itself in the area of environmental protection.
> Discuss the international legal environment and state how trade sanctions and embargoes, export and import controls, and boycotts are utilized by governments to achieve economic and political ends.
> Discuss the doctrine of comity.
> Define international law and identify its major sources.
> Discuss global business and cite reasons for the increased need for international law.
> Describe how the National Highway Traffic Safety Administration is responsible for the safety of automobiles sold in the United States.
> Identify examples of consumer products regulated by the Consumer Product Safety Commission.
> Describe three ways in which the federal and state governments reduce unreasonable risk of injury and death associated with consumer products.
> Katz was convicted in federal court under an indictment charging him with transmitting wagering information by telephone from Los Angeles to Miami and Boston, in violation of a federal statute prohibiting gambling. At the trial, the federal prosecutor wa
> Explain the difference between express and implied powers; describe the process used to amend the U.S. Constitution; and explain judicial review and the doctrine of preemption.
> Identify the kinds of businesses that can be charged with product liability.
> Identify some typical policies contained in an employee handbook.
> List some typical clauses in an employment contract.
> Discuss how legal disputes can be settled online using alternative dispute resolution.
> Identify the copyright issues associated with selling music and other forms of entertainment online.
> Identify six key settings in which the law applies to conducting business on the Web.
> Discuss emerging issues related to social media and business interaction
> Discuss the ways in which social media speech can affect business including defamation, intellectual property infringement and deceptive advertising.
> Identify crimes associated with social media
> Discuss how privacy issues in social media may be affected by business considerations in employment and use in civil cases.
> Morton Salt Company, a large producer of table salt, had an established price scale for its product based on the quantity of salt ordered in a 12-month period. Thus, a firm that ordered a substantial quantity of salt paid less per package than a store th
> Identify categories of legal issues related to social media.
> Identify the parties to an agency agreement and describe the relationship of the parties.
> Explain the effect of warranties offered after a transaction has been completed.
> Explain the provisions of the Magnuson-Moss Warranty Act.
> Explain disclaimers of implied warranties and the requirements for them to be legally valid.
> Provide examples of four kinds of express warranties and three kinds of implied warranties.
> When a contract provides for the sale of goods subject to the buyer’s approval, the transaction is a sale on approval. What are the benefits to the buyer of this type of sales transaction?
> A contract for sale with the right of return gives the buyer both title to the goods and the opportunity to return the goods to the seller at a later time. What are the benefits to the seller of this type of sales transaction?
> Why is it important to determine when title passes?
> Bell Microproducts Inc. mailed to McGurn an offer of employment that stated that if McGurn was terminated without cause during the first 12 months of employment, he would receive a severance package worth $120,000. McGurn crossed out the number 12, repla
> How can a contract for future goods provide price flexibility for the seller and, at the same time, provide predictability to the buyer?
> Explain the law governing title to lost or stolen goods and sales by persons having wrongful possession of goods.
> Explain how title passes and discuss how bills of sale, bills of lading, and warehouse receipts are involved in the passing of title.
> Explain how title and certificate of title relate to ownership.
> Explain how a contract might be terminated to protect a consumer.
> Explain how a contract might be terminated by breach.
> Provide an example of a contract terminated by impossibility of performance.
> Explain how a contract is terminated by performance.
> Discuss termination of a contract by agreement.
> Describe the circumstances in which a court might assign rights or duties under a contract.
> The New York City charter authorizes the board of health to adopt a health code and to take other appropriate steps to ensure the health of the citizens of the city. The charter states that the code “shall have the force and effect of law.” The board too
> Identify the three kinds of contracts that cannot be assigned.
> Distinguish between the assignment of rights and delegation of duties.
> Distinguish between a third-party beneficiary and an incidental beneficiary.
> Why does the Statute of Frauds apply only to executory contracts—that is, contracts that have yet to be performed?
> Why do you think a prenuptial agreement dealing with the custody of children would not be enforceable?
> In auction sales, how is the legal requirement for a written contract satisfied? What problems might arise from this arrangement?
> What is the minimum dollar amount specified in the Uniform Commercial Code as a requirement for written contracts for the sale of personal property? Should this amount be greater?
> How does society benefit from the actions of governments granting monopolies for such services as cellular telephone service, railroads, and so on?
> Legislation intended to protect the natural environment can have unexpected consequences and may serve as a disincentive to business. Explain.
> Why are contracts made with individuals who are required to be licensed, but are not, usually unenforceable?
> Jonathan G. Lebed was a 15-year-old Internet maven who, over about a six-month period, on 11 separate occasions “engaged in a scheme in which he purchased large blocks of thinly traded stocks and, within hours of making such purchases, sent numerous fals
> Is an illegal agreement enforceable? Why or why not?
> Provide an example of an agreement that has been made illegal by statute.
> Explain the enforceability of divisible contracts in which some parts have a legal purpose while other parts have an illegal purpose.
> Contracts made by persons who are mentally incompetent are generally voidable. Are there any exceptions? If yes, explain.
> A 17-year-old dancer signed a contract for a season with a ballet company. After rehearsals and two performances, the dancer received a better offer from another company. Could she terminate the contract? Why or why not?
> A minor purchased a desk, computer, and printer—all on sale. If the minor later attempted to purchase only the computer, the salesperson could legally refuse to limit the sale to the one item on the grounds of the buyer’s minority. In this example, what
> A minor is held legally responsible if he or she injures another person or another person’s property. Would it make a difference if the injury were accidental?
> How is a contract with a minor affected by the minor’s ratification of the contract?
> Discuss what is meant by “age of majority” and how it affects the legal status of minors entering into contracts.
> In some contractual relationships, the bargaining power of one party gives him or her an unfair advantage when dealing with another who might lack the economic power or the education to enter into contracts on an equal footing. What has the law done in a
> Brooking agreed to sell a tract of land to Dover Pool & Racquet Club Inc. on which Dover planned to build a swim and tennis club. Neither party to the contract knew that just before the contract was signed, the local zoning board of the town in which the
> Why are courts reluctant to rule on the adequacy of consideration?
> Identify four kinds of agreements that lack consideration.
> Describe the position generally held by the courts on the matter of adequacy of consideration.
> Explain how forbearance can satisfy the requirements of consideration.
> What are some examples of undue influence?
> Persuasive statements based on a salesperson’s opinion are referred to as puffing. Provide examples of typical sales situations in which puffing is used.
> What are some examples of duress?
> Explain the UCC provision relating to when a contract is unconscionable.
> Explain the two requirements of a valid acceptance.
> Explain the three requirements of a valid offer.
> Quinly and her husband, customers at Greenway Supermarkets, purchased several pounds of filet mignon and checked out their purchases at the newly installed self-scanners. The price listed on the packages of meat totaled $38; however, when Quinly swiped t
> When a definite time for acceptance has not been set, when does the acceptance time terminate?
> Under what circumstances might a specific time be crucial to a transaction that would justify limiting the time for an offer or acceptance?
> What are some advantages of written offers and acceptances over spoken ones?
