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Krista, the Director of Advertising at Trein, Inc., approved a series of magazine
advertisements using a close-up photograph of celebrity look-alike models driving a
train engine with the slogan, "Get on Board with Trein. Each ad included a signature,
meant to look like that celebritys autograph. Since in most cases, these "autographs are
not legible, this series of ads does not commit any tort.
A copyright is valid for 28 years after it is obtained and can be renewed for another 28
years.
Mountain Ridge Bank has been named trustee for a $100,000 trust Fred and Martha
Betts established for "the living children of the grantors. List the requirements for
establishing a trust. Identify the primary obligation of the trustee and discuss the
fiduciary duty of the trustee.
Consumer credit reporting agencies are unregulated governmental agencies.
In seeking to determine whether there is a meeting of the minds, the courts look to how
a reasonable person would objectively view the language or actions of the parties.
Most states recognize some form of comparative negligence.
ACME, Inc. is a software producer that entered into a verbal agreement with XYZ
Corporation wherein XYZ agreed to buy ACME's newly developed software. The
agreement also provided that ACME would supply training personnel, as well as
technical personnel, to work with XYZ employees in installing and learning the
software. What law governs this agreement?
Identify four ways a trust can be terminated.
Rick and Allan want to start a union in the small factory where they work. Outline the
basic procedures they will need to follow to get a union recognized as the exclusive
bargaining unit for the company employees.
Pharm-Ace holds a patent on a drug. Pharm-Ace used the patent (evidenced by the
patent certificate) to secure a $1 million loan from First Bank. The patent is chattel
paper.
Jackie learned of insider trading information while talking to Mark, a director of a large
corporation. She took advantage of the information to buy stock and make a huge
financial gain. If she is accused of violating securities law, what must the government
prove in order to gain a conviction against Jackie?
Working out some frustrations after a bad game, Jessica angrily hits a baseball and then
sees it is flying toward the umpire. She yells, "Watch out! The umpire ducks and the
ball misses him. Since there was no physical contact, no assault or battery occurred.
A fundamental aim of the National Labor Relations Act is the establishment of
industrial peace and the preservation of the flow of commerce.
One purpose of contract law is to make business matters more predictable.
Bob issued a "binder" on behalf of his company, All Faith Insurance Co., to Ian to
insure his house. This binder constitutes final acceptance of Ian's application.
Zach decided to incorporate his business under the name of "Zamm." In addition to
"Zamm," the Model Act requires that Zach include one of the following words:
"corporation," "incorporated," "limited," or "company" or an abbreviation thereof.
What elements are necessary for an offer to be valid? Give two examples of nonoffers.
Discuss the advantages and disadvantages of using IFRS.
Great State Bank and First Federal Bank have a security interest in TriColor's
equipment. If neither secured party is perfected, the first to sue or repossess has priority
over the collateral.
The Federal Trade Commission Act considers the terms "deceptive and "unfair to be
synonymous when determining what practices should be prohibited.
