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When specifically bequeathed property is sold or given away by the testator prior to
death, the bequest is considered "redeemed."
A cooperative consists of a group of two (2) or more independent persons or enterprises
that cooperate for a common objective or function.
To stabilize the industry, manufacturers of the same or similar products may agree that
each will market its product in a specified geographic area of the country and will not
market its product in the territory assigned to other manufacturers.
Agreements that are contrary to public policy are not binding.
The person on whom a demand for assurance is made must reply in writing for the
assurance to be deemed "adequate."
Reversible errors are commonly made by supreme courts.
Courts tend to resolve ambiguities in limited partnership agreements against the general
partners.
Making improvements is a duty that falls on the tenant.
Different rules of law govern the vicarious liability of principals and employers.
Under the United States Supreme Court's definition, an investment contract exists if the
following elements are present: (1) an investment of money, (2) a common enterprise,
and (3) an expectation of future profits from the efforts of others.
A transferee of a nonnegotiable warehouse receipt acquires only the title and rights that
the transferor had actual authority to transfer.
Upon the debtor's default, the creditor may sell the collateral at a public or private sale,
or lease it to a third party.
White-collar crimes generally involve violence.
A debtor may recover damages against any creditor who filed a bankruptcy petition in
bad faith.
The corporate form of business continues regardless of changes in stock ownership.
Attachment provides creditors with rights.
Crimes and criminal punishment guidelines are specified in detailed criminal codes and
statutes.
