Securities that are exempt from the registration requirement can generally be sold and
resold without being registered.
Under the power of eminent domain, the government may take private property only for
private use, not for public benefit.
The members of a limited liability company enjoy limited liability.
The Children’s Internet Protection Act requires public schools and libraries to use
filtering software to block children’s access to adult contact on Web sites.
In a general partnership, all partners have equal rights in managing the partnership.
The day-to-day business of a corporation is managed by officers employed by the board
of directors.
All employers must provide their employees with up to twelve months of family or
medical leave.
An answer never admits to the allegations made in a complaint.
An agency relationship can only be formed with a written agreement.
To be patentable, an invention, discovery, or design must be novel, useful and not
obvious in light of current technology.
Disparagement of property is another term for slander of quality.
In general, if a contract is illegal, a court will not enforce it.
A unilateral mistake always gives the mistaken party a right to relief from the contract.
A partner owes to the partnership and the other partners a duty of loyalty.
The doctrine of promissory estoppel does not apply if there exists a clear and definite
promise.
Corporations, like persons, can be liable for crimes.
There are no plans to develop national standards regulating the fuel economy and
emissions for medium- and heavy-duty trucks.
Precise Engineering Corporation has a contract with Quik Mart Stores to provide
customized software for Quik’s inventory control system. Retail Outlets, Inc., Quik’s
competitor, induces Sam, a Precise subcontractor who is writing code for the Quik
software, to delay delivery of the code for one week. As a result, Precise’s delivery of
the software is delayed, and Quik sustains $500,000 in lost profits. On what ground
could Quik recover damages from Retail Outlets?
A person cannot become an HDC if a defense against payment is apparent on the face
of the instrument.