Lou enters into a contract to buy Alan's car and gives Alan an instrument that states, "This acknowledges my debt to Alan in the amount of $10,000 that I owe on my purchase of the 2008 Saturn automobile I bought from him today." Alan assigns the note to Judy for $8,000. Alan had represented to Lou that the car had 20,000 miles on it, but when Lou discovered the car had 120,000 miles he refused to make further payments on the note. Can Judy successfully collect from Lou? Explain.

2. contract issues arising out of the licensing of intellectual property (IP): a franchise contract, a license of copyrighted legal information.

Here we are going to dig deeper into some of the issues involving IP because these are often the most common legal issues (with the possible exception of employment law) facing a business today. 

(1) What some call a patent troll is actually someone who owns IP and is entitled to defend their property rights.

(2) Patent trolls abuse the court system and the central doctrine of patents, which is to protect creators.