26. Thad’s a thief. While casually browsing over the merchan…
26. Thad’s a thief. While casually browsing over the merchandise at Xavier’s, a fashionable jewelry store, he skillfully pockets a small emerald pin. He takes the pin to Happy Harry’s, a respected neighborhood pawnshop, where he uses it to borrow $500 from Harry. The pin is in Harry’s possession, and he has Thad’s agreement that it will stand as collateral for the loan. Has a security interest in the pin with Harry, as secured party, ever attached?
Read Details14. A contractor was performing re-modeling work for a nursi…
14. A contractor was performing re-modeling work for a nursing home. The written contract called for a 30-day project in which several common social areas would be refurbished, including drywall, insulation, carpeting, and painted, along with minor plumbing and cosmetic improvements, for $50,000. About a week after work started, the nursing home director asked the foreman on the job to put in natural wood paneling over the drywall, and to reduce the total area to be painted. The director also told the foreman to upgrade certain bathroom fixtures. At the end of the project, the final bill was $72,000. The nursing home’s board refused to pay that amount and tendered the $50,000 contract price, claiming that a contract could not be modified without another writing. At trial, the nursing home objected to testimony from the foreman and the nursing home director on the basis of the parol evidence rule.Do you think that the court would order the nursing home to pay the additional money?
Read Details4. Would an instrument containing the following language b…
4. Would an instrument containing the following language be negotiable? “Anderson Smith, as Vice-President, hereby promises to pay $1,500 to the order of Harlem Furniture for office equipment for Smith Corporation, payable from its corporate assets. (Signed) Anderson Smith, as Vice-President, Smith Corporation.”
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