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Joy steals a check from Kyle, forges his signature, and transfers the check to Loco
Loans, Inc., for value. Unaware that the signature is not Kyle's, Loco Loans presents the
check to Metro Bank, the drawee, which cashes the check. Kyle discovers the forgery
and insists that Metro recredit his account. Can Metro refuse? If not, from whom can
the bank recover?
A Chapter 11 reorganization plan must provide for payment of tax claims over a
five-year period.
A surety can assert the debtor's bankruptcy as a defense.
Crops that are sold with the piece of land they are growing on are considered real
property.
In most states, a person must be eighteen years of age to execute a valid will.
A trustee does NOT have the power to avoid preferences.
In a corporation, managers are often faced with ethical trade-offs when a certain
decision will benefit one group, but harm another.
A confederal form of government is a confederation of independent states with a central
government of very limited powers.
Insurance policies are governed by the principles of common law.
A property owner can legally discriminate against prospective tenants on the basis of
gender.
Congress can review new federal regulations before they take effect.
A homestead exemption allows a debtor to pay less for a home than was actually owed.
A contract involving property of any kind must be in writing to be enforceable.
An escrow account is a borrower's bank account.
All oral contracts are enforceable under the UCC.
Olaf, an executive with Pharma Product Distribution, Inc., has to decide whether to
market a product that might have undesirable side effects for a small percentage of
users. How should Olaf decide whether to sell the product? How does the standard of
ethics that is applied affect this answer?
In contract law, "consideration" refers to the courtesy that one party shows another in
negotiating a deal.
A tenant ends his or her liabilities on a lease on assignment.
Only persons who are explicitly invited onto a business's premises are considered
business invitees.
