Enforcing judgments obtained against the debtor are ‘stayed” by the filing of a
voluntary or involuntary bankruptcy petition.
Which of the three major rules of liability that a third party may use to hold an
accountant liable for negligence is determined by specific language contained in the
engagement agreement entered into between the accountant and his or her client.
A party can be liable for defamation for truthful statements if the statement hurts the
plaintiff’s reputation.
Ratification relates back to the inception of the contract.
The bankruptcy judge attends the meeting of the creditors to maintain order, and assure
that proper procedures are followed.
Patent protection is provided for in the United States Constitution.
United States courts permit an aggrieved party to seek legal, but not equitable, orders
and remedies.
Any state or local law that unduly burdens foreign commerce is unconstitutional and is
a violation of the Foreign Commerce Clause.
If a payer bank wrongfully dishonors a check, it is liable to the drawer for damages
caused by criminal prosecution.
A debtor and creditor can enter into a reclamation agreement, whereby the debtor
agrees to pay the creditor for a debt that is dischargeable in bankruptcy.
The Secretary of State has no power to obtain an administrative dissolution of a
corporation.
One can challenge the issuance of a patent but cannot challenge an existing approved
patent.
Examples of OSHA specific duty standards include safety guards on saws, maximum
exposure levels for hazardous chemicals, and regulations concerning the location of
machinery in the workplace.
According to the Lilly Ledbetter Fair Pay Act of 2009, a plaintiff can file a claim
against an employer within 180 days of the most recent paycheck violation.
Fraud in the inducement occurs when the innocent party knows what he or she is
signing but has been fraudulently induced to enter into the contract.
Probable cause is defined as the certainty, beyond reasonable doubt, that a person either
committed or is about to commit a crime.
Generally, a single failure to meet a quality control standard is not cause for termination
of a franchise.
An arbitrator’s decision is generally known as a judgment.
Under the entrustment rule, a seller has no title to the goods.
Generally, to rescind a contract, the parties have no duty to make restitution.
In order to audit a public company, a public accounting firm must register with the
Public Company Accounting Oversight Board (PCAOB).
Plant life growing on land is considered real property, whether natural or cultivated.
Attorneys representing debtors in a bankruptcy proceeding are subject to fines and
sanctions if the information contained in the bankruptcy petition and schedules is
wrong.
In a transaction involving unsecured credit, the lender may sell the collateral pledged by
the borrower to satisfy the debt obligation.
A partnership that operates under a fictitious name has no obligation to report the
fictitious name to any governmental entity.
If a party to a contract intentionally alters the contract materially, the innocent party
may opt either to discharge the contract or to enforce it.
If a group desires to solicit proxies to oppose a management action, management has
the choice of mailing the proxy materials for the dissenting group, or providing the
dissenting group with a list of shareholders.
When fraudulent misrepresentation is used to induce another party to enter into a
contract, the innocent party’s assent to the contract is not genuine, and the contract is
void.
Starting in the 1930s, the United States Congress began enacting a comprehensive set
of federal laws that eliminated major forms of employment discrimination.
Islamic law is called Halakhah.
The Miranda rights provide a criminal defendant the right to have a lawyer present
during an interrogation.
The ULLCA is not law unless a state adopts it as its LLC statute.
A man may not marry his sister, but in most states he may marry his half-sister.