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In order to violate the FTC rules on advertising, a product would have to be
affirmatively mislabeled.
Azurapi Corporation plans to start marketing products worldwide. What forms of
multinational business enterprise are available? What factors should influence the
decision on the form to use?
D has owed C a debt of $500 for two years. If D now signs a promissory note payable
to C, the antecedent debt meets the requirement of "value" in determining C's status as a
holder in due course.
In general, an acceptance is effective upon dispatch.
A novation is an agreement between two parties to have one substitute for the other in a
contract.
The Securities Exchange Act of 1934 primarily deals with secondary transactions in
stock.
Sixteen-year-old Trevor has run out of money while on a trip away from home. Mr. &
Mrs. Height provide Trevor with food, a place to sleep, and bus fare home in exchange
for Trevor's promise to send them $200 when he gets home. Is Trevor's promise
enforceable?
The Rehabilitation Act prohibits discrimination on the basis of handicap in federal
programs but does not require federal contractors and agencies to take affirmative
action to hire qualified handicapped persons.
Ron owes Lloyd $500 due March 1. Lloyd assigns his right to the money to Lou, but
neither Lloyd nor Lou notifies Ron. On March 1, Ron pays Lloyd the $500. Ron is not
discharged from his obligation, but is liable to Lou for the money.
A minority of states have adopted the common law lien theory of mortgages which
gives the mortgagor the right of ownership and possession.
Bankruptcy legislation serves a dual purpose. What are these purposes?
The main goal of antitrust regulation is to prevent competitive behavior among firms.
On June 1, a civic club made an offer of $500 to a beer distributor to have ten kegs
delivered to the city park for a July 4th fund-raising event. On June 30, the city passed a
new law prohibiting consumption of alcohol in the city park. The civic club's offer is
terminated on June 30.
The signature of an anomalous indorser has no effect on the manner in which the
instrument may be negotiated.
The executor or administrator occupies a fiduciary relationship with regard to the estate.
Once a Chapter 13 plan of reorganization is confirmed, the provisions are binding on
the debtor and all of his creditors.
Under the Statutory Close Corporation Supplement to the MBCA, a close corporation
must have bylaws on file with the Office of the Secretary of State or some other public
office.
