Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Ownership interests in manager-operated LLCs are not considered to be securities.
Recording of a deed is necessary to pass title from the grantor to the grantee.
Duress is a valid defense to larceny, but not to murder.
A promissory note is an instrument that involves three parties in three capacities.
An accountant who commits fraud may be held liable for compensatory, but not
punitive, damages.
Someone who is convicted of theft of trade secrets or of the attempt to steal trade
secrets may face fines and imprisonment for up to 10 years, or both.
Persons who lack mental capacity at the time they enter into a contract may avoid
liability under the agreement.
Third party rights in contracts can arise by assignment of rights, delegation of duties, or
express terms in third party beneficiary contracts.
A contract exists when an offer has been accepted.
International law is derived from the Code of Federal Regulations and international
legal tribunals.
In a business trust, the trustees are generally not personally liable for the debts of the
business.
The Second Restatement provides that the death of a principal terminates all authority
of an agent, including apparent authority, even though no notice is given to third parties.
Assume that you and your best friend have decided to form a partnership after
graduation. You have both studied business law, so you both know the importance of
having a written partnership agreement. Summarize the clauses that you would include
in your partnership agreement.
If a bank pays on a check after the death of its customer, the customer's estate is not
automatically entitled to reimbursement.
Compare and contrast the intent necessary to commit a tort to the intent necessary to
commit a crime.
Camilla observes Ramon, a star soccer player, alone at a table at the back of a
restaurant. If she asks him for an autograph, she has committed the tort of intrusion by
interfering with his solitude and seclusion.
Statutes or the common law impose duties of good faith and fair dealing on all members
of an LLC whether the LLC is manager managed or member managed.
Ron owes Matt an unsecured debt of $3,000. Ron has a discharge of all his unsecured
debts by a bankruptcy court. Can the contract between Matt and Ron be reinstated?
The Restatement adopts the majority American rule and provides that, where there are
successive assignments of the same right, the first assignee in point of time prevails.
A corporation may be guilty of a criminal felony violation of the Sherman Act.
