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If the buyer is insolvent and has not paid for goods received, the seller may reclaim the
goods.
The contract liability of the principal may depend upon whether the principal is
disclosed, partially disclosed, or undisclosed.
The board of directors may issue bonds without the authorization or consent of the
shareholders.
The antifraud provisions of the 1933 Act pertain to both unregistered and registered
securities.
The terms "nuisance" and "trespass to property" refer to the same tort.
Incompetents and persons under the age of 18 cannot be held liable for their intentional
torts.
Under the Investor Protection and Securities Reform Act of 2010, new corporate
governance rules are imposed on publicly and privately held companies.
The 1934 Act regulates tender offers and proxy solicitations.
A liquidated debt is an obligation the existence or amount of which is in dispute.
If a liquidated damage provision is found to be unenforceable, the injured party loses
any remedy for breach of contract.
Substantial compliance with Article 9's financing statement requirements is sufficient
for a valid perfection, despite minor errors in the statement that are not seriously
misleading.
Why are delivery and acceptance both necessary to a valid gift? Explain.
Even though an agent exceeds his express authority, the principal may still be bound.
Regulation of gambling is solely under federal jurisdiction, through Congressional
legislation and U.S. court enforcement.
The principal advantage of negotiable instruments is their safety.
A writ of execution is issued after a judgment against the debtor is entered in court.
