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Guy is Hot Java Company's majority shareholder. Guy decides to sell his Hot Java
stock. The sale will be an effective transfer of the control of the company. Does Guy
owe a duty to Hot Java or its minority shareholders in this situation?
Proceeds consist of whatever is received when collateral is sold.
A patent and a copyright are examples of intellectual property, but a trademark is not an
example of intellectual property.
Corporations, like persons, can be liable for crimes.
Compensatory damages compensate an injured party for damages arising from the loss
of a bargain caused by a breach of contract.
Disparagement of property is another term for slander of quality.
An agency relationship may occur by operation of law in a family.
A finder of mislaid property is an involuntary bailee.
A husband and wife may file a joint petition for bankruptcy.
The seller's or lessor's major obligation under a sales contract is to tender conforming
goods to the buyer or lessee.
A novation requires the existence of a previous, valid obligation.
Some unilateral contracts do not require that an offeror be notified of acceptance.
Each bank in a collection chain must pass a check on before noon of the day of its
receipt.
Sara needs $1,500 to buy textbooks and other school supplies. Tomas agrees to loan
Sara $1,500, accepting as collateral Sara's car. They put their agreement in writing and
sign it. Sara keeps possession of the car. Does Tomas have an enforceable security
interest? How can Tomas let other creditors know of his interest in the car?
The person who owes the payment of a secured obligation is the secured party.
An item cannot be a fixture unless it is physically attached to the land.
Making out a prima facie case of discrimination means that a plaintiff has met his or her
initial burden of proof.
