Examlex
Mohammed had $750 in his checking account when his debit card was stolen. Assuming the thief made $525 in purchases with the card, how much could Mohammed save by reporting the stolen ATM card within 2 business days rather than waiting more than 2 business days (but less than 60 days) before reporting the theft?
Equal Dignity Rule
A legal doctrine requiring that contracts authorizing someone to conduct a transaction must be executed with the same formality as required for the transaction itself.
Statute of Frauds
A legal doctrine requiring certain types of contracts, such as for the sale of land or goods over a certain value, to be in writing to be enforceable.
Respondeat Superior
A legal doctrine holding employers liable for wrongful acts committed by employees while performing their job duties.
Independent Contractor
A person or entity contracted to perform work for another entity as a non-employee, responsible for their own taxes and benefits.
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