⬅ back to main page Anticipatory Breach (or Repudiation) Occurs when one party, before the time for performance arrives, clearly communicates they will not fulfill their contractual obligations.The aggrieved party can sue immediately for breach without waiting for the performance date. Articles of Incorporation (or Certificate of Incorporation) The document filed with a government body (e.g., a Secretary of State) to legally form a corporation. It includes basic information like the company's name, purpose, and share structure. Bylaws The internal governing rules for a corporation, detailing procedures for meetings, elections,the role of directors and officers, and other operational matters. They are adopted by the shareholders or incorporators. Caveat Emptor Caveat Venditor A modern counter-principle meaning “let the seller beware.” It places more responsibility on theseller to disclose defects and ensure product safety, reinforced by consumer protection laws and im...
⬅ back to main page Anticipatory Breach (or Repudiation) Occurs when one party, before the time for performance arrives, clearly communicates they will not fulfill their contractual obligations.The aggrieved party can sue immediately for breach without waiting for the performance date. Articles of Incorporation (or Certificate of Incorporation) The document filed with a government body (e.g., a Secretary of State) to legally form a corporation. It includes basic information like the company's name, purpose, and share structure. Bylaws The internal governing rules for a corporation, detailing procedures for meetings, elections,the role of directors and officers, and other operational matters. They are adopted by the shareholders or incorporators. Caveat Emptor Caveat Venditor A modern counter-principle meaning “let the seller beware.” It places more responsibility on theseller to disclose defects and ensure product safety, reinforced by consumer protection laws and im...