The Collection of People Who Attend a Class Together Could

question 50

True/False

The collection of people who attend a class together could be called a group.

Recognize how Article 2 of the UCC differentiates between merchants and nonmerchants.

Comprehend the negotiability and characteristics of standardized contracts.

Understand the principles and applicability of quasi-contracts.

Identify and differentiate between unilateral and bilateral contracts.

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Definitions:

Gratuitous Agent

An agent who receives no compensation for his or her services.

Fiduciary Duty

An obligation to act in the best interest of another party, such as a trustee for a beneficiary.

Apparent Authority

An agent’s ability to affect the principal’s legal relations. Consent must be communicated to the third party.

Restatement (Third)

The third update to a set of model civil and criminal statutes designed to clarify, modernize, and otherwise improve American law.