Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
With a sale on approval, goods held on approval are subject to the claims of the buyer's
creditors before acceptance.
The President appoints federal judges with the advice and consent of the Senate.
For an item to be characterized as a "good" under the UCC, it must be intangible.
An insurance broker is ordinarily an independent contractor.
Administrative agencies do NOT have the power to resolve disputes through formal
adjudication.
An obligor is a person to whom a duty is owed.
A covenant not to compete that is part of an employment contract will generally be
upheld.
The concept of value in the law of negotiable instruments is the same as the concept of
consideration in the law of contracts.
Under the UETA, a signature may be denied legal effect solely because it is in
electronic form.
Preemption occurs when Congress chooses to act exclusively in a concurrent area and a
valid federal statue or regulation takes precedence over a conflicting state or local law.
Article 3 of the UCC governs contracts for sales of goods.
Insurance is classified according to the nature of the risk involved.
If a discharge is denied to a debtor in a bankruptcy proceeding, the debtor's creditors are
denied a distribution of the debtor's assets.
Legality is one of the requirements for creation of a valid contract.
An artisan's lien is a security device created at statutory law through which a creditor
can recover payment for labor and materials used to increase the value of real property.
