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A joint venture resembles a partnership but is taxed like a corporation.
A limited liability company can sue or be sued, enter into contracts, and hold title to
property.
SEC Rule 10b-5 applies to almost all cases involving the trading of securities.
A contract must be in writing to be enforceable if it makes performance possible only
over a period of more than one year.
The contract term "free on board" indicates that the selling price of goods includes
transportation costs to the specific F.O.B. place named in the contract.
A professional's gross negligence in performing a duty constitutes actual fraud.
An artisan's lien is a security device created at statutory law through which a creditor
can recover payment for labor and materials used to increase the value of real property.
An assignment of the interest of a limited partner dissolves a limited partnership.
If a homeowner defaults, the lender has the right to foreclose on the mortgaged
property.
The offense of monopolization does not require the intent to monopolize.
A registration statement must include a financial statement certified by an independent
public accounting firm.
The mailbox rule applies to communication by phone and fax as well as the mail.
A failure to exercise reasonable care is negligence.
Most limited liability company statutes have no provisions regarding member'
meetings.
The act of state doctrine does not have important consequences for firms doing business
in other countries.
