Author: Anonymous

Red Bev LLC contracts to buy two tons of strawberries from Sweet Fruits, Inc. The contract states that Sweet Fruits is required to ship the strawberries to Red Bev by Truck Transport Inc. The contract is

Among the factors an entrepreneur will consider in selecting an organizational form for a business is the liability of the owners for the acts of the firm.

Generally, all contracts are assumed to be destination contracts if nothing to the contrary is stated in the contract.

Cornell and Duke are partners in Equity Lending. They decide to admit Fran to the firm as a new partner. Fran’s liability for partnership debts incurred before her admission is

Ruby invents a new type of pillow and obtains a patent for it. Sleep-Time Inc. believes that Ruby’s pillow infringes on one of Sleep-Time’s previously patented products. Sleep-Time must file a challenge to Ruby’s patent within

Any contract that is not in writing is not enforceable.

Bon, an agent for City Motors Inc., e-mails Dale on May 1 that the dealer will sell to her a 2018 Ford pick-up truck for $25,000 between May 1 and July 1. Bon’s offer to Dale is

The assumption of direct financial responsibility for a debt does not need to be in writing to be enforceable.

Glen is a partner in Home Builders, a construction firm. Glen’s assignment of his interest in the partnership to Investment Consultants results in

A close corporation need not meet all of the specific requirements set forth in state statutes for corporations because it is essentially a sole proprietorship.