Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
Generally, an accountant must possess the skills that an ordinarily prudent accountant
would have.
The right to due process of law applies to corporations.
If a corporation is dissolved, its asset can be liquidated without further notice to a party
who has a claim against the firm.
Under the Sarbanes-Oxley Act of 2002, accountants must retain working papers relating
to an audit or review for a certain period of time.
An order instrument must identify the payee with certainty.
The courts have considerably scaled back the Clean Water Acts protection of wetlands.
An oral contract for a transfer of an interest in land is never enforceable.
When a seller keeps the goods for pickup, if the seller is a merchant, the risk of loss
passes to a buyer on tender of delivery.
An agents deviation from the lawful, clearly stated instructions of the principal is a
violation of the duty of obedience.
Legal systems around the globe are generally divided into common law and civil law
systems.
International copyright protection is automaticeven in nations that have not signed
international agreements relating to intellectual property rights.
An instrument is not defective simply because it is overdue.
A contract may have to be in writing to be enforceable even if its performance is
possible within a year.
Colby fraudulently induces Dian to sign a note. Colby sells the note to Elen, who does
not know of the fraud and takes the note for value and in good faith, and thus becomes
an HDC. Elen sells the note to Fred, who sells the note back to Colby. Does Colby
acquire Elens HDC rights in the note?
Simply obeying the law does not fulfill all ethical obligations.
Under what circumstances would Moms Tools & Hardware, a small store in the middle
of Nowhere, a small, isolated town, be considered a monopoly? If Moms is a monopoly,
is it in violation of antitrust law?
Before a principal can ratify a contract, the third party must withdraw from the deal.
