Frank and Pete enter into a contract for the sale of goods a…
Frank and Pete enter into a contract for the sale of goods and agree that Frank will determine the price. He refuses to specify a price; Pete can either treat the contract as canceled or set a reasonable price. The court can also fill-in the price.
Read DetailsPete worked as a bookkeeper for Hanes, Inc. He was accused o…
Pete worked as a bookkeeper for Hanes, Inc. He was accused of embezzling $30,000 and was fired from the company. Pete then became a bookkeper Mt. Etna Corp, his family’s import/export company. He wrote a check for $30,000 to Hanes from Mt Etna’s account to satisfy the stolen funds and stave off any report to authorities. Hanes negotiated the check and Mt Etna later sued for theft, conversion, a breach of fiduciary duty. Under the ruling in Georg v. Metro Fixtures Contractors, Inc., Hanes would qualify as a _________________ because of its constructive possession of the check.
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