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The newly formed Bright Partnership cannot commence business until it meets its
state's required minimum amount of capitalization.
RICO does not apply to businesses that are engaged in organized crime.
In many instances the same facts will give rise to both an action for false light and
defamation.
Patricia, who is married to Dustin, applies for a credit card from Vankirk's Department
Store, but she is turned down because she is a married woman and the store's policy is
to issue cards only in the name of the husband in such situations. What are her legal
rights in this situation?
If a promisor intends her promise as a joke, whether or not the promisee as a reasonable
person should understand it to be such, the promise is not an offer.
In 2007, the Supreme Court held that vertical price restraints are per se violations of
Section 1 of the Sherman Act.
Fran negligently drove her truck through Nick's fence, causing damage. If she promises
to pay Nick $1,500 if he does not bring a lawsuit against her, Nick accepts and forms a
unilateral contract by not filing suit. His forbearance is consideration.
Ordinarily, the attorney who drafts the will may not serve as a witness to the will.
Partners may elect to have the partnership not be a separate taxable entity, so that only
the partners are taxed.
Unless otherwise provided by statute, an assignment may be oral.
A corporation can be formed in the State of New York by complying with New York
statutes or with the Federal Model Corporation Act.
For a misrepresentation to be actionable as fraud in the inducement, it must be a
misrepresentation of an opinion.
A debtor may not file a plan at any time in a Chapter 11 reorganization.
Because the authority given to an agent by a principal is strictly personal, the agent's
death terminates the agency.
In closely held corporations, stock transfer restrictions are used to achieve the corporate
equivalent of delectus personae.
The 1999 amendments to the RMBCA eliminate the appraisal remedy for almost all
charter amendments.
The client is generally held to be the owner of the working papers the accountant uses
in performing an audit.
Under a tenancy in common, the most frequently used form of concurrent ownership,
each co-owner has the right of survivorship.
A prompt promise to ship or prompt shipment of goods is a valid acceptance of an offer
to buy goods for prompt or current shipment.
