Hill owned a roofing business that had an account at Lowe's to buy supplies. He sold the business to his employees who had used the account. When he sold the business, he asked a person at Lowe's to close the account. The account documents stated that to close the account, Hill must contact Lowe's headquarters in writing, but he did not. His former employees then ran up a bill on the account. Lowe's sued Hill for the balance due as the former employees were bankrupt. Most likely, the court would hold that Lowe's could:
a. only collect from the new owners because Hill was not a surety
b. not collect from anyone since the new owners were bankrupt and Hill was not a surety
c. collect from Hill because he was a surety on the business, even if not a surety on the Lowe's account d. collect from Hill because he had engaged in fraud in the sale of the business
e. none of the other choices
Question 2
The Supreme Court has held horizontal price fixing to be per se illegal in every antitrust case.
a. True
b. False
Indicate whether the statement is true or false
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