Henry prepared a registration for the first issuance of stock of the Winzell Corporation.
Henry took the assignment very seriously and spent a great deal of time preparing the
statement. Two years after the statement was filed, the SEC began to investigate the
company and claims that the information in Henry’s statement was misleading, because
some of the information given to him by the corporation was false. Henry had tried to
verify the information, but was not able to do so. An investor is now suing Henry
claiming that he violated the 1933 act. Is Henry liable?
A cashier’s check is drawn by a bank upon itself to the order of a named payee.
In 2009, Congress enacted the Investor Protection and Securities Reform Act, which
imposes new corporate governance and investor protection rules on privately and
publicly held companies.
In recent years, more and more courts have followed the Ultramares doctrine in
deciding cases.
The Truth-in-Lending Act establishes maximum amounts of interest that can be charged
for credit cards.
The person holding legal title to the property is the settlor of the trust.
Clark goes to the First Bank to obtain a consumer loan. The bank requests that the Rich
Credit Reporting Agency furnish a credit report, which they do. Based upon the report,
which says that Clark has been convicted of theft and credit card fraud, the bank denies
Clark’s application. Is Clark entitled to know what was in the report? If Clark thinks the
information in the report is inaccurate, what can he do?
Under the UPA, in order to avoid liability, only constructive notice of a dissolution is
required to be given to third parties who had no knowledge of the partnership before its
dissolution.
Warranty liability may be imposed on both nonsigners and signers of an instrument.
Under the RUPA, during winding up, the partnership must apply its assets first to
discharge the obligations of partners who are creditors on parity with other creditors,
subject to any other laws.
Treasury shares are shares that have been authorized but have not yet been issued.
Brown Corporation purchased all of the stock of Grey Corporation. The appraisal
remedy is not available to a dissenting shareholder of Brown Corporation.
If a person is adjudicated insane and placed in care of a guardian, that person’s contracts
are void.
Eminent domain does not grant the government power to take private land for public
use.
NEPA is a federal act that focuses on particular environmental hazards without stating
national environmental policy.
In a criminal trial, the plaintiff must prove the case by a preponderance of the evidence.
Patent rights are considered to be personal property.
The appointment of an agent by a minor or an incompetent not under a guardianship
and any resulting contracts are not voidable regardless of the agent’s contractual
capacity.