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The property that is subject to the security interest is called collateral.
Title VII requires that employers make reasonable efforts to accommodate their
employees' religious beliefs.
The primary party on a note or certificate of deposit is the drawer.
Conduct that unreasonably interferes with the enjoyment of land is a nuisance.
Because a corporation is not a human being, it cannot be convicted of a crime.
A common carrier transporting goods under a COD shipment is liable if it takes a check
in payment and the check bounces.
An option contract gives one of the parties an absolute right to enter into a second
contract at a later date.
Any false statement in an application binds the insured.
Costs and expenses of administration of the bankruptcy case, including trustee fees are
paid before any money is disbursed to secured or unsecured creditors.
A contract of insurance ordinarily is stated in a writing called a policy.
A second promise to pay a contractor a higher amount on the original contract may be
enforceable.
Subchapter S corporations have the benefits of limited liability as in partnerships and
are taxed as corporations.
If an instrument is nonnegotiable, the rights of the parties are governed by the general
principles of contract law.
Sales law includes special rules that apply to merchants.
Companywide standardized form contracts imposed on a "take-it-or-leave it" basis by a
party with superior bargaining strength are called contracts of collusion.
When a security interest in property is inferior to other interests and claims to the
property, it is said to be perfected.
By operation of law, a party can be discharged in bankruptcy from debts.
The theory of justice is based on the concept that if there were no laws or rules
reasonable people would develop fair rules and standards.
