The Law in Business Problems: Cases and Other Materials for the Study of Legal Aspects of Business |
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Common terms and phrases
acceptance action agent agreed agreement amount applied assets authority Autogas Bank bill bill of lading bills of exchange binding breach claim common carrier common law condition consideration constitute contract corporation course court of equity Cream of Wheat creditors custom damages debt debtor decisions decree defendant defendant's directors discharge doctrine duty effect employees enforce entitled evidence exist express fact fraud guaranty held indorsement insolvent intention interest judge judgment judicial jurisdiction jury Justice law merchant legislation liability lien Mass ment merchant mortgage mortgagor Negotiable Instruments obligation offer offeree offeror opinion paid parties partner partnership payment performance person plaintiff principle profits promise purchase purpose question reason received refused relation rule sell smoke ball sold statute Statute of Frauds stipulation stockholders supra Supreme Court surety tion trade transaction ultra vires words writing
Popular passages
Page 421 - That all levies, judgments, attachments, or other liens obtained through legal proceedings against a person who is insolvent, at any time within four months prior to the filing of a petition in bankruptcy against him, shall be deemed null and void in case he is adjudged a bankrupt...
Page 539 - An instrument to be negotiable must conform to the following requirements: 1. It must be in writing and signed by the maker or drawer; 2. Must contain an unconditional promise or order to pay a sum certain in money; 3.
Page 447 - no action shall be brought whereby to charge any executor or administrator upon any special promise to answer damages out of his own estate ; or whereby to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person...
Page 416 - ... a person shall be deemed insolvent within the provisions of this act whenever the aggregate of his property, exclusive of any property which he may have conveyed, transferred, concealed, or removed, or permitted to be concealed or removed, with intent to defraud, hinder or delay his creditors, shall not, at a fair valuation, be sufficient in amount to pay his debts.
Page 322 - ... (a) when he signifies his approval or acceptance to the seller or does any other act adopting the transaction; (b) if he does not signify his approval or acceptance to the seller but retains the goods without giving notice of rejection, then, if a time has been fixed for the return of the goods, on the expiration of such time, and, if no time has been fixed, on the expiration of a reasonable time.
Page 322 - ... description and goods of that description and in a deliverable state are unconditionally appropriated to the contract either by the seller with the assent of the buyer or by the buyer with the assent of the seller the property in the goods thereupon passes to the buyer. Such assent may be expressed or implied and may be given either before or after the appropriation is made...
Page 323 - Subject to the provisions of this Act and of any statute in that behalf, there is no implied warranty or condition as to the quality or fitness for any particular purpose of goods supplied under a contract of sale...
Page 415 - Any natural person, except a wage-earner or a. person engaged chiefly in farming or the tillage of the soil, any unincorporated company, and any corporation engaged principally in manufacturing, trading, printing, publishing or mercantile pursuits, owing debts to the amount of one thousand dollars or over, may be adjudged an Involuntary bankrupt...
Page 560 - In the case of an assignment of a claim secured by a certificate, the liability of the assignor upon such warranty shall not exceed the amount of the claim.
Page 668 - A corporation is an artificial being, invisible, intangible, and existing only in contemplation of law. Being the mere creature of law. it possesses only those properties which the charter of its creation confers upon it, either expressly, or as incidental to its very existence.