Maury Slater and Harry Katz operate a clothing store, Maury's Fifth Avenue, as a partnership. They agree that Maury will concentrate on sales and Harry will deal with the wholesalers
Harry tells all his suppliers not to listen to Maury if he should call. While Harry is in Florida for a two week vacation and Maury is minding the store, Joe Feller, the sales representative for Regency Clothes, one of their major suppliers, pays a visit. He leaves with an order for 200 suites, when Harry returns, he tells Joe he won't pay for them. Can Regency sue Fifth Avenue?
A) Yes. The indoor management rule applies.
B) Yes. Maury had apparent authority to place orders for the partnership
C) No. Regency was aware that Maury did not have authority to make orders.
D) No. The indoor management rule applies only to corporations.
E) Both A and B
C
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Which of the following is true of the right to disaffirm?
A. If there was no reason to know of the other party's lack of capacity, the contract can be disaffirmed without placing him or her in status quo. B. People lacking mental capacity cannot disaffirm their contracts. C. If the plaintiff knew or should have known of the other party's incapacity, the person lacking such capacity is not allowed to disaffirm without restoring the status quo. D. On disaffirmance, people lacking mental capacity must return any consideration that they had received.
Luke Belington is an automotive parts salesperson. Each week he writes a column in a local auto magazine about the car industry, its past, present, and future. One of the main reasons for him indulging in writing on the side would be to:
A. convince prospects of his automotive expertise. B. encourage people to buy classic cars. C. qualify leads in the market for a new car. D. gain additional remuneration during low sales periods. E. educate people on the mechanics of car design.
The stakeholder model of corporate social responsibility (CSR) views business as a citizen of the society in which it operates and, like all members of a society, business must conform to the normal range of ethical duties and obligations that all citizens face.
Answer the following statement true (T) or false (F)
If a buyer breaches a sales contract before the seller has delivered the goods, the seller cannot recover damages from the buyer
Indicate whether the statement is true or false