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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.
In some states, a judgment creditor must obtain a separate order of garnishment to cover
each of the debtor's pay periods.
A license permits the use of another's intellectual property for certain limited purposes.
Any corporation with less than $10 million in assets and fewer than five hundred
shareholders must register their securities with the Securities and Exchange
Commission.
A majority shareholder does not owe a fiduciary duty to minority shareholders under
any circumstances.
A de jure corporation is one that is not properly formed.
An ordinary holder can recover nothing on an instrument that has been materially
altered.
An oral contract may be enforceable if the person making the promise could foresee
that the promisee would rely on the promise.
The age of majority in most states is eighteen years.
Sales of securities must occur within five days of registration.
A bank may not pay any checks on a customer's account after the date of the customer's
death.
A business firm may have an insurable interest in the life of any of its employees,
except a key employee.
Under the Age Discrimination in Employment Act of 1967, the plaintiff must show that
unlawful discrimination was the reason for an adverse employment action.
In determining whether a franchisor acted in good faith in terminating a franchise
relationship, a court would balance the rights of both parties.
Corporations, like persons, can be liable for crimes.
With an interest-only mortgage, the borrower can choose to pay only the interest
portion of the monthly payment for a specified period of time.
A partner owes to the partnership and the other partners a duty of care.
