A written will must be signed by the testator at the bottom or end of the will.
The greatest change to the Constitution has been made by the United States Supreme
Court through interpretation.
The property that is subject to the security interest is called collateral.
An absolute guaranty creates the same obligation as a suretyship.
A buyer who is dissatisfied with the service or product provided by a merchant cannot
be charged with defamation for false statements made in an attempt to coerce the
merchant to perform to the buyer’s satisfaction.
The duties of an employee are determined primarily by the contract of employment
with the employer.
The UCC imposes a higher degree of good faith on a merchant seller or buyer of goods
than on a nonmerchant seller or buyer of goods.
Hal was a merchant who deposited 2,000 barrels of olive oil in a public warehouse
operated by Welcome Warehouse. Hal was issued a warehouse receipt for the 2,000
barrels that by its terms was deliverable “to bearer.” Hal had engaged in many other
transactions with Welcome and was in arrears for quite a bit of money to Welcome. Hal
duly negotiated the warehouse receipt to Esmeralda Enterprises in payment of cash.
Hal’s financial affairs continued to deteriorate and Welcome never was paid the debt.
When Esmeralda’s agent requested the oil and offered to remit the warehouse receipt,
Welcome refused to release the oil, claiming a lien on the oil for Hal’s debt. Esmeralda
sued. Decide the case.
A waiver of a breach may be either express or implied.
Pay raises based on seniority generally are considered lawful.
Several states have adopted statutes providing a limited degree of indemnification to
victims of crime.
A security interest need only be attached, not perfected, if there are no competing
claims for the collateral.
The major advantage to investors in a corporation stems from the fact that their risk of
loss is limited to the amount of their investment.
Cameo Industries desired a workplace free from all forms of sexual harassment.
Accordingly, Cameo developed guidelines for its workers that specifically forbade
sexual harassment. The guidelines gave examples of conduct that would not be
tolerated, provided penalties, designated a company official as the proper person to
whom complaints should be brought, investigated complaints thoroughly, and
maintained an educational policy designed to remind employees of the policy.
Maureen, a Cameo Industries employee, made a complaint of sexual harassment,
charging that her supervisor had demanded sexual favors. An investigation was
performed and the charge was substantiated. The supervisor was warned not to continue
this conduct, but it happened again. The supervisor was again issued a warning. Finally,
Maureen brought a court action against the supervisor and Cameo. Cameo defended on
the ground that it had done all in its power to rectify the situation. Decide.
The stockholders of the Apex Corporation attended a special meeting of the
stockholders called to discuss matters of extreme urgency to the corporation. A quorum
was not present when the meeting opened, nor was a quorum present when the matters
to be treated in the meeting were discussed. Management, however, felt that the
importance of the issue was significant enough to warrant continuation of the meeting
without a quorum, and the stockholders voted on the issues presented during the
meeting. During the last fifteen (15) minutes of the meeting, just prior to the cocktail
hour regularly attended by many stockholders, enough stockholders had arrived to
constitute a quorum. Were the issues of this meeting dealt with in a valid manner?
The primary party on a note or certificate of deposit is the drawer.
By operation of law, the trustee automatically becomes the owner of all of the debtor’s
property in excess of the property to which the debtor is entitled under exemption laws.