Business Law Ch. 1

Created by mags4123 

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In Alpha v. Beta, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Delta v. Gamma, a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to

allow the minor to cancel the contract.

The U.S. Congress enacts a new federal statute that sets standards for the liability of businesses selling defective products. This statute applies

To all of the states.

Lev is a judge. In his court, Lev may bar a suit if it is not filed within a proper time according to

a statute of limitations.

Net Corporation files a suit against Omega, Inc., alleging that Omega breached a contract to sell Net a computer system for $100,000. Net is

the plaintiff.

In Sales Distribution Corp. v. Consumer Products Co., the court decides that a precedent is incorrect or inapplicable. The court

may rule contrary to the precedent.

The federal government and the state governments constitute the U.S. legal system. This system is based on the legal system of

England.

If the title of a case appears as "Quality Sales Corp. v. Regional Distribution Co.," the party in whose favor the court decided is

Either party.

In an action against Elin, Frank obtains a remedy. This is

the legal means to recover a right or to redress a wrong.

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