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Question
Why can an agent not take an opportunity meant for the principal? When is an agent permitted to take such an opportunity? Give an illustration depicting an agent's violation of his or her duty of loyalty.
Answer
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Related questions
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The ________ School of jurisprudence maintains that the law is shaped by logic.
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The ________ School of jurisprudence emphasizes shaping laws based on morals and ethics.
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Stare decisis is the doctrine of ________.
A) providing proof to assert a fact in court
B) adhering to legal precedent
C) separating powers between state and religion
D) ensuring all legal rights are provided to a person when otherwise deprived of them
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A) judicial
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C) executive
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What is considered as the supreme law of the land in the United States?
A) judicial decisions issued by the state courts
B) the Constitution of the United States of America
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What led to the creation of the Chancery Courts?
A) the insistence for a court system that emphasized legal procedure rather than the merits of a case
B) the law courts' inability to hear all the cases presented to them
C) the increase in overseas trade and proliferation of piracy
D) the unfair results and limited remedies provided by the law courts
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Which of the following statements best indicates how chancery courts were different from law courts?
A) Chancery courts emphasized developing merchant laws rather than laws for the common citizen.
B) Chancery courts inquired into the merits of the case rather than emphasize legal procedures.
C) Chancery courts emphasized a standard set of remedies across different cases rather than provide equitable remedies.
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What was the key reason for the creation of law courts during the early development of the English common law?
A) to administer law in a uniform manner
B) to help merchants form a standardized set of commercial laws
C) to increase the power of the king in law-making
D) to facilitate legal disputes for the wealthy and influential
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What was the key factor in the development of the English common law?
A) the development of forensic science in helping decide cases
B) the supremacy of the king and his intervening powers when deciding cases
C) the use of precedence of past cases for judges to decide present similar cases
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The Analytical School of jurisprudence maintains that the law should be ________.
A) shaped by logic
B) based on social behavior
C) set by the ruling class
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Mark Walton was involved in a car accident in which the airbag of his car failed to deploy. He sued the car manufacturer for installing faulty airbags. But in the course of the case being heard in court, the car company and Mark decided settle the lawsuit out of court. What important function of the law was served in this case?
A) promoting social justice
B) maximizing individual freedom
C) providing a basis for compromise
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Ordinances are not codified into code books.
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Statutes are written laws that establish certain courses of conduct that covered parties can use as a form of guidance.
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Treaties are considered to be a part of the supreme law of the United States of America.
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Federal statutes take precedence over treaties.
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Administrative agencies are created by the judicial branch of government.
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The merchant courts were established because of the unfair results and limited remedies available in the chancery courts.
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Businesses that are organized in the United States are subject to its laws, but not to the laws of other countries in which they do business.
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B) E-mail contracts are exempted from the requirements of the Statute of Frauds.
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A network extension is a unique name that identifies an individual's or company's website.
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The CAN-SPAM Act requires spammers to label sexually oriented e-mail as such.
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A(n) ________ refers to a promise in which one person agrees to answer for the debts or duties of another person.
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Explain the creation and working of guaranty contracts.
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How is a mistake different from an act of fraud?
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Which of the following is true of monetary damages?
A) Monetary damages are available only for material breaches of contract.
B) Dollar damages are not monetary damages.
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D) Consequential damages are monetary damages.
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________ is a clause in a contract in which the parties specify certain events that will excuse nonperformance.
A) Approval clause
B) Express condition
C) Force Majeure
D) Implied-in-fact condition
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A) Novation
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Which of the following phrases explain the term covenant?
A) an unconditional promise to perform
B) a breach of contract
C) mutual rescission of a contract
D) successive assignments of a right