The public has the right to review an environmental impact statement, although there is
no formal process for the public to comment on it.
The general standard to obtain an injunction is that the party seeking the injunction
would suffer irreparable injury without the injunction.
Immanuel Kant believed that people owe moral duties based on universal rules.
Article I, Section 8, Clause 3 of the United States Constitution is also referred to as the
Foreign Commerce Clause.
The law establishes a maximum degree of conduct expected by persons and businesses
in society.
A major criticism of corporate citizenship theory is that the duty of a corporation to do
good cannot be expanded beyond certain limits.
The intent to enter into a contract is determined using the subjective theory of contracts.
For the drawee to be liable on a draft, the drawee must accept the drawer’s written order
to pay it.
Barney and Betty are married. Betty’s friend gives her ten lottery tickets as a birthday
gift, and one of the tickets is a million-dollar winner. If she divorces Barney, he has the
right to a portion of the million dollars if they reside in a community property state.
To establish a “due diligence” defense, the defendant must prove that after reasonable
investigation, he or she had reasonable grounds to believe and did believe that, at the
time the registration statement became effective, the statements contained therein were
true and there was not omission of material facts.
Property is usually classified as either real or personal property.
Quarterly shareholders’ meetings are held to elect directors, choose an independent
auditor, and take other actions.
Ace Appliance, Inc. delivered and installed an under-the-counter dishwasher in Maria’s
house. This dishwasher is considered a fixture.
An agency arrangement must be based on more than the conduct of the parties.
The majority of states have adopted the foreign substance test to determine the
merchantability of food products.
Indorsers can have secondary liability but cannot have primary liability.
Business models used for commerce on the Internet can be patented.
The Electronic Communications Privacy Act makes it a crime to intercept an electronic
communication at the point of transmission.
An instrument does not have to be payable with interest, but if it is, the amount of
interest being charged must be expressed as either a “prime” or a ‘sub-prime” rate.
States are prohibited from enacting statutes involving the environment.
A rejection is treated as a new offer that leaves the original offer open as well.
The common law of contracts requires an exact specification of contract terms.
An instrument can be a sight draft or a demand draft but cannot be both.
One situation in which a contract may not be enforced due to a unilateral mistake is
when a party makes a unilateral mistake of fact and the other party either knew or
should have known that a mistake was made.
When a testator leaves her property to her descendants “per capita,” all living
descendants receive an equal share, regardless of their degree of relationship to the
testator.
The Circuit Courts of Appeal usually hear cases as a three-judge panel.
A check where the drawer and payee have accounts at different banks is known as an
“on them” item.
As a legal entity, a corporation can be held liable for the acts of its directors and officers
and for authorized contracts entered into on its behalf.
ERISA requires employers’ contributions to be either totally vested after 5 years, or
gradually vested over a 7-year period and completely vested after that time.
The fundamental rights granted in the Constitution and its amendments protecting
citizens from intrusive governmental actions apply to natural persons and do not apply
to artificial persons such as corporations.
A life estate may be measured by the life of a third party.
The Social Security program has provided retirement benefits for workers since the late
1800s.
Complete performance is also known as strict performance.
The International Court of Justice is composed of fifteen (15.) judges who serve 9-year
terms.
The bankruptcy estate is created upon the termination of a bankruptcy case.
Receipt of a share of business profits is prima facie evidence of a general partnership.
Attachment is a post-judgment court order that permits the seizure of a debtor’s property
that is in the debtor’s possession.