Attorneys are required to be familiar with well-settled principles of law applicable to a
case.
When a secured debt is paid, the secured party must file a termination statement
regardless of the goods classification.
Certified checks are instruments that have been accepted for payment by the institutions
on which they are drawn.
A principal owes an agent a duty of ratification.
Normally, if the numerical amount and the written amount on a check differ, the words
outweigh the figures.
A forum-selection clause indicates the place for the resolution of a dispute arising under
a contract.
Common stock provides a proportionate interest in the corporation with regard to
control.
Willful violations of the Securities Act of 1933 may be subject to criminal prosecution.
A lessee is a party who transfers a right to the possession and use of goods under a
lease.
A court will not pierce the corporate veil of a corporation that is merely too “thinly
capitalized.
An employer is not liable for the sexual harassment of an employee by the employees
supervisor.
If a debtors income is below the median income, there is a presumption of bankruptcy
abuse.
Dominique, a certified public accountant, provides accounting services to Eagle
Corporation. The services include preparing Eagles financial reports and issuing
opinion letters based on the reports. In 2008, Eagle falls into serious financial trouble,
but neither Dominiques reports nor her opinion letters indicate this situation. Relying on
Dominiques portrayal of Eagles financial situation, Eagle borrows a large sum of
money to build a new shipping facility. In lending Eagle the money, First National Bank
relies on Dominiques opinion letter. Dominique is aware of this reliance. If Dominique
did not engage in intentional fraud but was negligent, what is her potential liability?
If a contract condition is not satisfied, the obligations of the contracting parties are
discharged.
An offeror is a person who makes an offer.
An individual director does not act as an agent to bind the corporation.