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The concept of law is narrowly defined, with the same definition applicable in all
contexts.
The Americans with Disabilities Act does not generally apply to residential housing
facilities.
A franchisee and franchisor are usually established as the same corporation.
Under the infancy doctrine, a contract involving a minor and an adult can be avoided by
either party.
A security interest must be in writing, unless the creditor has possession of the
collateral.
The articles of incorporation must be approved by the state before the corporation can
officially come into existence.
A corporation is a domestic corporation in the state in which it is incorporated, and it is
an alien corporation in all other states and jurisdictions.
Under Title VII of the Civil Rights Act of 1964, employers must accommodate all
religious observances of their employees.
Owners of corporations are called stakeholders.
A state may pass its own exemption laws and require debtors in that state to follow the
state exemptions, without an option to choose the federal exemptions.
If a minor does not disaffirm a contract either during the period of minority or within a
reasonable time after reaching the age of majority, the contract is considered clarified.
A negotiable instrument is negotiated when it is first issued as well as each time it
transfers from party to party.
Probable cause is defined as the possibility that a person either committed or is about to
commit a crime.
If a builder breaches a construction contract either before or during construction, the
owner can recover the increased cost above the contract price that he or she has to pay
to have the work completed by another contractor.
Usury law limits vary from state to state.
There are three (3) types of freehold estates: fee simple conditional, fee simple
unconditional, and life estate.
What constitutes a necessary for a minor will depend on the particular minor's own
individual circumstances.
The Federal Reserve Board's Regulation X sets forth detailed rules from compliance
with the Truth in Lending Act.
A manager of a limited liability company who negligently causes injury to another
person while on the job is liable to the injured person.
In terms of signature liability on a negotiable instrument, if it is unclear who the signer
is, the parol evidence rule would prohibit consideration of outside evidence to identify
the signer.
Documents such as the United States Constitution, the Magna Carta, and the United
Nations Charter reflect the Natural Law School of Jurisprudence.
E-filing of court documents is a growing phenomenon, and some courts have made
e-filing mandatory.
Trademarks are protected for a nonrenewable 10-year period.
A baseball fan assumes the risk of being hit by a foul ball if he or she purchases a ticket
and sits in a seat located down the first-base line.
A decision of the Federal Trade Commission may be appealed to the applicable state
supreme court.
Limited partners are liable only for the debts and obligations of the limited partnership
up to their capital contributions, and they are not personally liable for the debts and
obligations of the limited partnership.
If an unfair labor practice has been found involving a union election, the National Labor
Relations Board or the courts may set the results aside, and order a new election.
An unqualified opinion is the least favorable opinion an auditor can give.
Article 2A of the Uniform Commercial Code (UCC) establishes warranties that apply to
lease transactions.
Prima Company goes to Urban Bank and borrows $100,000. In this case, Prima
Company is the creditor, and Urban Bank is the debtor.
The government must pay the property owner when it exercises its right of eminent
domain.
A corporation's express powers represent only those powers granted to it in its articles
of incorporation.
Embellishment is a post-judgment order that permits the seizure of a debtor's property
that is in the possession of third parties.
Other than a business license, if required in the state, there are no other filings, fees or
other requirements necessary to begin a sole proprietorship.
