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Contracts that are executory on both sides can be rescinded by agreement.
A deceased joint tenants interest in jointly held property passes to his or her heirs.
If the purpose of a licensing statute is to protect the public from unlicensed
practitioners, a contract with an unlicensed professional is illegal.
All employers in the United States are subject to federal employment discrimination
laws.
A description of collateral as "all the debtors assets is too general to reasonably identify
the subject of a security agreement.
A debtor wishing to file for bankruptcy must complete the means test to determine
whether he or she qualifies.
The Sarbanes-Oxley Act of 2002 applies to domestic, but not foreign, public accounting
firms that provide auditing services to "issuers.
A secured party can release the collateral described in a filed financing statement only if
the debtor has paid the debt.
An otherwise valid contract may be unenforceable if it is not in writing.
Business ethics focuses on ethical behavior in the business world.
To vote their shares, shareholders must attend a meeting and vote in person.
Whether a contracts limitation-of-liability clause will be enforced depends on the type
of breach that the clause excuses.
The United States Supreme Court cannot review a decision by a states highest court.
An "assignment of all rights absolves the assignor of all liability under the contract that
created the rights.
A professionals gross negligence in performing a duty constitutes actual fraud.
In the United States, a patent is given to the first person to file for it.
A reverse mortgage starts as a fixed-rate mortgage and then converts into an
adjustable-rate mortgage.
A principal who causes a third person to believe that another person is the principals
agent can be estopped from denying the agency relationship.
A merger involves the legal combination of two or more corporations, only one of
which continues to exist.
