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Banks may not assign their loan contracts to other firms.
Article 2 of the UCC sets forth the requirements for sales contracts and Article 2A
covers similar issues for lease contracts.
The Securities Exchange Act of 1934 provides for continuous, periodic disclosures by
publicly held corporations.
The filing of a petition for bankruptcy will automatically stay most legal actions against
the debtor.
Forbearance is a process that allows a lender to legally repossess and auction off the
property securing a loan.
Under the doctrine of comparative negligence, only the plaintiff's negligence is taken
into consideration.
If a life insurance applicant pays a premium but dies before the physical exam, there is
obviously no coverage.
The words used in an insurance contract are interpreted against the party who applied
for the policy.
Accountants and other professionals may not be held liable for negligence in the
performance of their service.
A spendthrift trust provides for a beneficiary's transfer of his or her right to future
payments of trust funds.
In a tenancy in common, the interests are divided.
A registration statement must include a financial statement certified by an independent
public accounting firm.
In a transaction for the sale of a warehouse, Standard Storage Company tells Tri-County
Investment Corporation that the office furniture is included. The contract says nothing
about office furniture, but does state, "This document supersedes all oral promises
relating to the sale." Is the furniture part of the sale? Why or why not?
A board of directors govern every corporation.
A special indorsement names the indorsee.
To be enforceable, a memorandum evidencing an oral contract that would otherwise be
unenforceable must include the essential terms.
Few companies provide any kind of support such as ethical training programs and
seminars to make their ethical codes more effective.
