Federal courts Assignment Example | Topics and Well Written Essays - 1250 words

Federal courts - Assignment Example Sole proprietorships in business have unlimited liability, which means that their owners are normally held responsible personally for the business’ obligations and debts (Dine & Koutsias, 2012). Thus, lenders may seize the personal assets of the owner in order to effect payment for the debts and obligations. The website and the advertisement resulted in an express warranty, indicating that all expenses would include a queen sized bed, three daily meals, and all expenses. The contract was entered into on the basis of mistaken material fact that the hotel was aware of being untrue. Finally, written disclaimers under the UCC require all disclaimers to be displayed conspicuously for them to be held as valid (Dine & Koutsias, 2012). The common law deals with employment contracts, intangible assets, insurance, service, and real estate. On the other hand, UCC deals with transactions involving the sale of goods, contracts, leases, and borrowing money. UCC mainly covers commercial tran sactions carried out between the states in the US and US territories. The court is most likely to apply UCC because offers made by companies cannot be revoked if in writing, especially when common law disallows option contract revocation (Dine & Koutsias, 2012). In addition, whereas contracts under UCC can be modified in the absence of any more consideration, under common law, contracts are only modified with additional consideration. Negligence refers to harm caused to other parties by failing to utilize reasonable care.