8 terms

Business Law Ch. 1

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
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.