R-6 Flashcards
1
Q
What is governed by common law?
A
Real estate
insurance
services
employment
2
Q
What is fraud in execution?
A
Deceived into signing something that he does not know
3
Q
Fraud in inducement?
A
Terms are materially misrepresented.
4
Q
What are statute of frauds?
A
Contracts requiring writing:
Marriage Performance needs more than one year Land Debts Sale of goods more than 500 dollars Surety
5
Q
When does the risk of loss shifts if non-conforming goods?
A
Risk of loss remains with seller regardless of terms of the delivery.
6
Q
What is tort liability?
A
Duty of care
Breached
Damages
Causation
7
Q
What is copyright time limit?
A
Author’s life + 70 years.
8
Q
What is patent limit?
A
20 years, 14 years for design patents.
