Examlex
Vladimir entered into a contract to buy Daniel's collection of rare stamps.Vladimir mailed payment of $10,000 for the stamps to Daniel, but now Daniel tells Vladimir, "I'll never part with these stamps." Are the remedies of restitution and specific performance available to Vladimir?
Unlimited Liability
A legal structure in which owners and partners are personally and fully responsible for all the debts and liabilities of the business.
General Partner
A type of partner in a partnership who is responsible for the day-to-day management of the partnership and is personally liable for the partnership's debts.
Misapplication Funds
Refers to the wrongful use or allocation of funds that were intended for a specific purpose.
Partnership Relationship
The legal and operational relationship existing between partners in a business venture, governed by a partnership agreement.
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