In a share exchange, some or all of the shares of one corporation are exchanged for the
shares of another, and both corporations cease to exist.
Market power is the ability of a firm to enter a given market.
Like Social Security, Medicare is funded by contributions from the employer and the
employee.
A seller with voidable title has the power to transfer good title to a good faith purchaser
for value.
A fixture is normally included in a sale of land unless the sales contract specifies
otherwise.
Professionals are governed by the contracts they enter into with their clients.
Under the UCC, the aggrieved party is not limited to one exclusive remedy.
Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 apply just to
corporate “insiders.”
Only a few types of propertya debtor’s wages or bank account, for examplecan be
garnished.
Agency relationships do not permeate the business world.
Compensatory damages are not available in cases of intentional discrimination in
violation of Title VII of the Civil Rights Act of 1964.
Some of the employees of Righteous Apps, Inc., decide that they want to be represented
by the Science Workers Union in bargaining with Righteous Apps over overtime pay
and the times that the offices open and close. Righteous Apps, and some employees,
including Truman, are against the union. Who can demand that a union election be
held? If the union is elected, does it have to represent Truman? If the union is elected,
does Righteous Apps have to bargain over overtime pay and the times that the offices
open and close?
On the back of an envelope, Clark writes, “I promise to pay Dobie or bearer $700 on
demand. [Signed] Clark.” What type of instrument is this? Is it negotiable? If not, why
not?
Identification takes place when specific goods are designated as the subject mater of a
sales or lease contract.
When there is an ambiguity in an insurance policy, the provision generally is interpreted
against the insurance company.
How property is taxed and what is required to transfer or acquire property is determined
by whether the property is classified as tangible or intangible.
Fruit-of-the-Plant Seed Company is engaged in the agricultural seed industry in the
Midwest. The firm currently has about 40 percent of the market for these products.
GreatGro Seed Corporation competes with Fruit-of-the-Plant in the same states.
Carbonate has about 35 percent of the market. If Fruit-of-the-Plant were to acquire the
stock and assets of GreatGro, would Fruit-of-the-Plant be in violation of any of the
antitrust laws? If so, which one? Discuss fully.
Intangible property has conceptual existence and thus comes under Article 2.
Federal law establishes the specific procedures for a share exchange.