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In a Chapter 11 or 13 proceeding, the bankruptcy estate of an individual includes wages
earned after commencement of the proceeding.
Objective impossibility occurs if a particular contracting party is unable to perform
because of financial inability or lack of competence.
For the general trial courts in the federal system, Congress has established ninety-four
judicial districts, each of which is located entirely in a particular state.
Distinguish between a note and a certificate of deposit. How are they alike? How are
they different? Explain your answer.
A person who owes a duty under a contract is an obligee.
Any person who, by his own negligence, substantially contributes to the making of an
unauthorized signature may not assert the lack of authority as a defense against a holder
in due course.
What is the doctrine of ultra vires? What is the effect of an ultra vires contract?
The 1995 Private Securities Litigation Reform Act grants authority to the SEC to bring
civil actions against aiders and abettors for certain violations of the 1934 Act.
