When a negotiable instrument contains the notice required under FTC Rule 433, a
consumer can bring any defense to payment that he or she has against the seller of a
product against a subsequent holder as well.
The alter-ego theory can be applied to a corporation, but not a limited liability company.
Friend2Friend, Inc., a social network provider, is cited by an Internal Revenue Service
(IRS) representative for an underpayment of federal income tax. Friend2Friend’s
accountants believed that the agency overlooked some of the firm’s legitimate tax
deductions and credits. Erin, Friend2Friend’s chief executive officer, wants to challenge
the assessment. What are Erin and Friend2Friend’s next steps?
When a person dies without a valid will, and no heirs exist, the state will assume
ownership of the property.
The right to petition for bankruptcy relief under federal law is an essential aspect of our
capitalistic society.
Under a coinsurance clause, a homeowner who insures a home for 80 percent of its
value can recover only 80 percent of the cost for damage to it.
Advertising that contains an endorsement by a celebrity will not be deemed deceptive.
After a partner dissociates from a continuing partnership, the partnership is no longer
bound by the acts of the dissociated partner, even on a theory of apparent authority.
Forbearance is a postponement of part or all of the payments on a loan for a limited
time.
Bothe federal and state laws expand the amount that can be taken from a debtor’s
weekly take-home pay through garnishment proceedings.
On default, a secured party who chooses not to retain the collateral must dispose of it in
a commercially reasonable manner.
The exterior boundaries of land extend down to the depth of the deepest hole and up to
the height of the tallest structure and no further.
Even during emergency situations, when the principal cannot be consulted, the agent
may not deviate from the principal’s instructions without violating the duty of
obedience.
During collective bargaining, the employer and the union are obligated to reach an
agreement.
Francesca works for Glassworks Inc. Near her workstation is a conveyor belt that runs
into a large industrial oven. Some workers, including Harry, Francesca’s supervisor, use
the oven to heat food. One day, when the conveyor is not moving, Francesca uses the
oven to cook her lunch. As she removes the food from the oven, the conveyor comes on
and Francesca is pulled partially into the oven and suffers serious burns. Francesca
seeks recovery under the state workers’ compensation law. Should she recover? Why or
why not?
A holder cannot become an HDC if he or she has notice of any claim to the instrument
or defense against it.
When the risk of loss for goods passes from a seller to a buyer is generally determined
by the contract between the parties.