Monday, September 26, 2016

Business Laws in Brief

I thought this additional post from Houghtalings Handbook of Useful Information ©1889 would be in keeping.

Business Laws in Brief.
Ignorance of law excuses none.
It is a fraud to conceal a fraud.
The law compels no one to do impossibilities.
An agreement without consideration is void.
Signatures made with lead-pencil are good in law.
A receipt for money paid is not legally conclusive.
The acts of one partner bind all the others.
Contracts made on Sunday cannot be enforced.
A contract made with a minor is invalid.
A contract made with a lunatic is void.
Contracts for advertising in Sunday newspapers are invalid.
Each individual in a partnership is responsible for the whole amount of the debts of the firm.
Principals are responsible for the acts of their agents.
Agents are responsible to their principals for errors.
A not given by a minor is void.
It is not legally necessary to say on a note "for value rec'd."
A note drawn on Sunday is void.
A note obtained by fraud, or from a person in a state of intoxication, cannot be collected.
If a note be lost or stolen, it does not release the maker; he must pay.
The indorser of a note is exempt from liability if not served with notice of its dishonor within twenty-four hours of its non-payment.

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