Because administrative agencies have broad powers, they are subject to strict
procedural rules as well as disclosure requirements.
If a person upon whom the assurance is demanded does not have a good reputation or
economic position, a guarantee of performance or a pledge of security may be required.
A person has to be an owner or lienholder to have an insurable interest in a property.
Bill decided that it was time to remodel his home. Among the features that Bill had
included in his remodeling plan was the addition of several very large picture windows.
Because of the great expense of the windows, Bill financed the cost through the
issuance of a promissory note. The manufacturer of the windows sold the promissory
note to a bank. Just after the promissory note matured, the windows began to leak
badly. Bill refused to pay on his promissory note and brought action against the
manufacturer for breach of contract. Will the bank recover on the promissory note?
A letter of credit must be in writing and signed by the issuer.
A bank is not required to pay a check presented more than six months after its date.
Jurisdiction over bankruptcy proceedings is vested in the federal district courts.
Some courts have rejected the requirement of privity for malpractice and instead
approach each situation on a case-by-case basis.
Sue is an employee at an ABC store. One of Sue’s duties is to prepare the bank deposit
at the end of the business day. Sue had a very busy day and made a few mistakes. All of
the checks, except two, were indorsed with the stamp “ABC, Inc.” that ABC had
provided. The bank received the deposit and noticed the lack of indorsement on the two
checks. In addition, three of the checks that Sue was to include with the deposit were
lost in the parking lot after closing. Phil found the checks and deposited them into his
personal account. What is the effect of ABC’s indorsement on the lost checks and the
lack of indorsement on the two deposited checks?
The subterranean lending market makes loans to consumers who have bankruptcies, no
credit history, low-to-moderate incomes, or a poor credit history.
All shares must have a par value of at least one dollar per share.
For the purposes of Personal Auto Policy (PAP) coverage, an insured person “uses” an
automobile by unloading groceries from the car while it is parked in the garage.
If a state or local Equal Employment Opportunity agency (EEO) exists, a party charging
discrimination must first file a complaint with that agency before filing a charge with
the EEOC.
When a building contractor has substantially performed a contract to construct a
building, the contractor is entitled to recover the full contract price.
Title VII does not protect members of all nationalities from employment discrimination.
The dissolution of a limited partnership is governed by unique rules quite different from
those applicable to the dissolution of a general partnership.
The parol evidence rule does not apply to the sale of goods.