To incorporate, you must first choose a corporate name and file it with the appropriate
state office.
When a customers negligence contributes to a forgery, the bank normally is obligated to
recredit the customers account for the amount of the check.
If a contract in which goods and services are combined is primarily a goods contract,
any dispute over it will be decided under the UCC.
In a limited liability limited partnership, the liability of a general partner is the same as
the liability of a limited partner.
A trade acceptance is a promissory note.
A party who uses the benefits of a contract before paying for them commits usury.
If an instrument is acquired as part of a corporate purchase of assets, the holder will
have the rights of an HDC.
Quik Results, Inc., a Maine corporation, makes and sells Power Up!, a weight-gain and
muscle-building supplement. Orin, a citizen of New York, sees an ad for Power Up! in
WorkOut magazine and buys it in New York City at a local health club. Within ten days
of beginning to use Power Up!, Orin suffers internal injuries. Alleging that the injuries
are caused by Power Up!, Orin files a suit against Quik in a New York state court. Quik
asks the court to dismiss the suit on the ground that it does not have personal
jurisdiction over Quik. What is the court most likely to rule and why?
Under a life insurance policy, in the absence of contractual exclusion, any cause of
death is one of the insurers risks.
A partner who pursues his or her own interests automatically violates the partners
fiduciary duties to the partnership.
An unequivocal acceptance operates as a rejection of the original offer.
A conditional promise to pay is not a negotiable instrument.
Inverse condemnation occurs when an owner simply gives private property to the
government without accepting any compensation.
An S corporation is treated the same as a regular corporation for tax purposes
A tenant can withhold rent for any reason.
Some promises are not legally binding.
When a corporation is dissolved voluntarily, the corporation must file articles of
dissolution with the state.
A firm may be a monopolist even though it is not the sole seller in a market.
A life insurance contract is a third party beneficiary contract involving a donee
beneficiary.
Every judgment is enforceable.