The rights of the mortgagor after default include the right to obtain a stay of foreclosure
to prevent undue hardship and a right of redemption.
A trustee can delegate the performance of personal duties.
In dealing with the corporation, directors act in a fiduciary capacity.
The Semiconductor Chip Protection Act of 1984 created a new form of industrial
intellectual property by protecting mask works and the semiconductor chip products in
which they are embodied against chip piracy.
Once a lawsuit is commenced, the case must go to the jury.
The assignee of a partner’s interest in the partnership becomes a partner only with the
consent of the other partners.
Debts of a corporation are not the debts of the persons running the corporation or
owning shares of stock in it.
The Administrative Procedure Act is a federal law that establishes the operating rules
for administrative agencies.
Peter has been subjected to an unreasonable amount of noise from his neighbor, who
constantly plays his stereo at full volume. Peter is angry about his neighbor, but he is
even angrier about the excessive pollution being emitted by a local factory that burns
old tires in direct violation of a state statute prohibiting such conduct. Do the acts of
Peter’s neighbor and the factory constitute nuisances? If they do, give Peter assistance
on any possible courses of action to eliminate the problems.
A holder can recover from any of the parties who are liable on the instrument,
regardless of the order of the signatures on the instrument.
A manufacturer having a restriction on territories in the form of a sole outlet is a per se
violation.
A quasi-public corporation is one that is organized for charitable or benevolent
purposes.
Individuals who steal valuable nonpublic information in breach of a fiduciary duty to
their employers and trade in securities on that information are guilty of insider trading
as “misappropriators.”
A letter of credit cannot extend for a period of more than five (5) years.
United States antitrust laws can protect United States exports.