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You hired ACE Contracting as an independent contractor to build your new house and checked on them about once per week until it was completed. During the construction, they accidentally cut the water line and your future neighbor’s house was flooded. Who is responsible for the damages?

You signed a contract to buy your neighbors car, but you backed out and told them you wouldn’t buy it because the bank is closed today. Even though you can’t get the money today, this will not normally discharge (end) the contract.  What is this known as?

 In the case Lucy vs Zehmer, the court upheld the contract written on a napkin even though one of them said he was joking. What was the courts basis for the ruling?

You roommate rented out your apartment for the weekend without asking or telling you. But when the renter paid, you personally took and accepted the payment. By accepting the payment, you approved a non-agent (your roommate) to make a contract on your behalf even though they are not authorized to do so. What is this called?

You entered into a partnership business agreement with your roommate. What is the main advantage for you?

This is a Distinctive mark, motto or device or emblem that a manufacturer stamps, prints or otherwise affixes to the goods it produces to distinguish it from other manufacturers. Ex: The McDonald’s Arches or the Nike Swoosh.

You are not comfortable running a business without interference or advice from others. You want to get some help from people who can offer good advice and also be willing to accept part of the liability for the business. What business structure would be best for you?

 Which of the following is an advantage of a corporation?

In this type of contract, the seller agrees to sell all of their output to a specific buyer. They cannot sell to another buyer, like an exclusive contract. For example, you could only by craftsman tools at sears. 

 In the case Webster vs Blue Ship Tea Room, Ms Webster choked on a fish bone and sued the restaurant who claimed no responsibility. Which of the following is the supreme court ruling?