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Under the Statute of Frauds, fixtures, such as buildings, growing crops and minerals,
are treated as real property.
A franchisor is the purchaser of a franchise.
Scienter exists if a party makes a statement that he or she believes to be scientifically
verifiable.
Harm must be foreseeable to be considered the proximate cause of an injury in
negligence.
In May 2013, National Biotech Corporation generally advertises that it will make a $4
million offering of stock in June. National makes the offering as advertised and, ten
days after the first sale, notifies the Securities and Exchange Commission (SEC). All
buyers of the stock are given material information about the company, its business, and
the stock. Before the end of the year, the offering is completely sold out. The buyers
include forty unaccredited investors and fifty accredited investors. National does not
register the offering. The SEC files a suit against National, seeking civil sanctions on
the ground that this offering was not exempt from registration. National argues that the
applicable exemption is Rule 505 of Regulation D of the Securities Act of 1933 and that
because of this exemption, any resale of the stock is also exempt. Who is correct?
On a trade acceptance, the drawer is also the payee.
Employers who do not accommodate the needs of persons with disabilities must
demonstrate that the accommodations would cause undue hardship.
Any point source emitting pollutants into water must have a permit.
The day-to-day business of a corporation is managed by officers employed by the board
of directors.
Objective impossibility discharges a contract.
Vested is the condition in which rights have taken effect and cannot be taken away.
A shrink-wrap agreement is an agreement whose terms are expressed inside a box in
which the goods are packaged.
An employer can refuse to bargain collectively with a duly designated employee
representative.
An incidental beneficiary can sue directly to enforce a promisor's promise.
Bankruptcy proceedings are held in federal courts.
A partner owes to the partnership and the other partners a duty of care.
Real estate transactions are always governed by Article 2 of the UCC.
An employer has no control over an employee's work.
A secured party can release any collateral described in the financing statement, thereby
terminating its security interest in that collateral.
A liquidated damages provision is the same as a penalty provision.
