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It is possible for a limited partner to be subject to the debts of the firm if the limited
partner participates in the control of the business.
Sarbanes-Oxley (SOX) allows whistleblowers who are retaliated against an immediate
lawsuit in federal district court.
Parties with rights in a negotiable instrument can be assignees or holders.
Corporations may avoid liability for the obligations of a predecessor corporation by
treating a consolidation or merger as a sale of assets.
A homeowner's policy commonly provides protection from losses caused by theft.
Both the Secretary of Commerce and the Secretary of the Interior are given
responsibilities under the Endangered Species Act.
One promise may serve as consideration for many return promises.
A professor owned a home next door to a very dilapidated, neglected home. John
Cataldo purchased the home next door and made a contract with Wizard Home
Improvements for a complete renovation of the property. The professor was delighted
because the improvement of the Cataldo home was upgrading the neighborhood and
raising the value of the professor's home.
After making the last required payment on the contract, John Cataldo became seriously
ill and ultimately was taken to a nursing home for care.
When Wizard learned of Cataldo's illness and confinement, Wizard ceased work on the
Cataldo home. Because the outside renovation work had not been completed, the
premises began to return to its former rundown condition. The professor ultimately sued
Wizard as a third-party beneficiary of the contract between Cataldo and Wizard. What
is the probable outcome of the lawsuit?
The use of someone's car without that person's permission is a trespass to personal
property.
After fully complying with the procedures of the Uniform Gifts to Minors Act, a donor
is entitled to take back the donated property at any time before the minor donee reaches
the age of 18.
The category of protected consumers for many statutes has been expanded to include
partnerships, corporations and government entities.
A partner has the authority to do those acts that are customary for a member of a
partnership conducting the particular business of that partnership.
Jacob just won the state lottery. Discuss his right to privacy.
A limited liability partnership protects partners from liability for the wrongful acts of
those whom they directly supervise and control.
A warehouse receipt may be either negotiable or nonnegotiable.
In a cash sale not requiring the movement of goods, each party has the right to demand
that the other perform at the same time.
A peremptory challenge to a prospective juror generally can be exercised without
giving a reason.
If a shareholder borrows money and delivers stock as collateral security, the creditor
has a perfected security interest in the stock without any filing by the creditor.
