The trustee may void any fraudulent transfer made by the debtor within two (2) years of
bankruptcy when the debtor’s actual intent was to hinder, delay, or defraud creditors by
engaging in the transfer.
The general view is that the owner of land owns the space above the land, subject to the
rights of flying aircraft, even if the aircraft interferes with the use of the land and
represent a danger to persons or property on the land.
With regard to a unilateral contract, the offeree does not accept the offer by express
agreement, but rather by performance.
Persons who are not partners under appropriate circumstances may be held liable to
third persons as though they were partners.
Personal property generally becomes a fixture if it is so attached to the realty that it
cannot be removed without materially damaging the realty.
A requirements contract is too vague to be a legally-enforceable agreement.
A “best efforts” clause is always deemed too indefinite to be enforceable.
A franchise agreement in which the franchisor grants the franchisee authority to
manufacture and sell products under the trademark(s) of the franchisor is known as a
manufacturing or processing franchise.
For the parties to enter into an accord and satisfaction that discharges the original
obligation, there must be a bona fide dispute.
The officers of a corporation are liable for errors of judgment that cause a loss to the
stockholders.
A will may only be revoked by operation of law; it may not be revoked by act of the
testator.
A document of title is not sufficient for a creditor to take an interest in goods.
An LLC is a legal entity with the authority to conduct business in its own name.
All private or limited offerings of securities are exempt from the SEC registration
requirements.
Title to land may be acquired by adverse possession.
Algonquin Industries was a small business that hired mostly recent immigrants to the
United States and paid them a minimum wage. The business prospered and people
began to come around to organize the workers into a union. Officials of Algonquin
spoke against the advisability of joining the union. Finally, a date for a certification vote
was set. In the days leading up to the vote, Algonquin officials began to intimate that
those workers who voted against the union would receive overtime opportunities “as
they became available.” A charge has been brought that this is an unfair labor practice.
Decide.
The Uniform Anatomical Gift Act permits persons sixteen (16) years of age or older to
make gifts of their bodies or any parts thereof.