On April 1, Buyer emailed Seller an offer to purchase. The…
On April 1, Buyer emailed Seller an offer to purchase. The offer stated that it would remain open only until April 4. Seller sent an acceptance on April 3 by regular mail and Buyer received it on April 8. Seller lives in a state that follows the mailbox rule.
Read DetailsYou are promoted to Chief Executive Officer (CEO) of a natio…
You are promoted to Chief Executive Officer (CEO) of a nationwide company. The HR Manager brings you a draft of a non-compete agreement to be distributed for all employees to sign. The contract is silent as to whether the employer may assign their rights to a third party. You feel that, in the event of sale or transfer of the company, some of the employees may not be bound to the agreement as drafted. This could, in your opinion, negatively impact the acquisition price if a buyer learns that employees may flee to rival competitors, taking vital information or trade secrets with them. You decide to ask for a legal opinion. Which of the following cases would most likely be cited by your lawyer in answering your question?
Read DetailsThis case may be cited as precedent for the proposition that…
This case may be cited as precedent for the proposition that “a purchaser claiming he was fraudulently induced to enter a sales contract has an election of remedies: (1) promptly after discovering the fraud he may rescind the contract…; or (2) he may affirm the contract and sue for damages resulting from the fraud.”
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