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An involuntary bankruptcy occurs when a debtor's creditors are forced to accept a
discharge of the debtor's debts.
Cooperative research by small-business firms is exempt from antitrust law.
Pricing information cannot be a trade secret.
Shareholder appraisal rights do not usually extend to short-form mergers.
If a promise is made, it will be enforced.
A loss sustained between the time of application and the delivery of an insurance policy
may not be covered.
The maximum amount of money at risk by a limited partner is the amount of his or her
investment in the limited partnership.
Tortfeasor is the term for a person who commits a tort.
A sale of all of a corporation's assets requires the approval of the state.
The price that a secured party obtains on a sale of collateral is all that the creditor can
recover on the debt.
The usual method of mortgage foreclosure is by a judicial sale of the property subject to
the mortgage.
The words used in an insurance contract are interpreted against the party who applied
for the policy.
A contract entered into under duress is voidable.
State law determines the duration of a franchise.
A forged signature is effective as the signature of a drawer to the extent that is
resembles the drawer's actual signature.
A will is probated in part to establish its validity.
An agreement between firms operating at different levels in the manufacturing and
distribution process cannot violate antitrust law.
Only a guardian can enter into legally binding contracts on behalf of a mentally
incompetent person.
