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In states that follow the community property tradition, property acquired after the
marriage belongs solely to the party who acquired it.
A written authorization of agency is called a power of attorney.
Preferred stock cannot have priority over common stock with respect to dividends.
Once a mark is registered in accordance with federal law, the holder of the mark has the
exclusive right to use the mark in perpetuity.
The holder of a claim that is the subject of a bona fide dispute may be counted as a
petitioning creditor.
Third persons are prohibited from recovering from an accountant who commits fraud.
Ethical egoism believes that feeling guilty about poor ethical decisions will lead to
better future decisions.
Mark purchased a very expensive automobile on credit. Within a week, Mark
discovered that a tune-up was necessary, for he was in the habit of driving at an
excessive rate of speed. When the car was repaired, the bill was more than $1,000.
Mark does not have the money to pay for the car repairs or the monthly car payments.
The credit company as well as the repair shop are concerned over who has priority of
repayment. Who has priority and why?
A binding contract cannot contain a cancellation provision.
