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Leases of personal property exceed $100 billion annually and are governed by Article
2A of the UCC.
Jared, a citizen of Missouri, brings suit in federal court against Cryden Corp., which has
its principal place of business in Kansas. The court in this diversity of citizenship suit
must apply federal substantive law and procedural rules.
The Private Securities Litigation Reform Act of 1995 provides that an auditor can be
held liable in a private action for any finding, conclusion, or statement expressed in the
report the Act requires the auditor to make to the SEC.
A novation is an agreement between two parties to have one substitute for the other in a
contract.
Pleadings are the post-judgment requests of the losing party for a higher court to take an
appeal of the case.
What are the two tests for mental competency?
Clara types a letter to David setting forth the terms of their contract that falls within the
statute of frauds. At the end of the letter, she types her name but does not sign her
signature to it. If David wants to use the letter to satisfy the writing requirement, he
may do so.
Miriam files for bankruptcy on March 18. On August 14 she receives $10,000 as
beneficiary of a life insurance policy. This $10,000 will not be included in her
bankruptcy estate.
The actual express authority of partners must be specifically set forth in the partnership
agreement.
