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The use of letters of credit arose in international trade.
The provisions of Article 6 concerning bulk transfers are designed to protect creditors.
An oral agreement to supply a line of credit for two (2) years cannot be enforced
because of the statute of frauds.
For the purpose of determining the right to bring a lawsuit in federal court, a
corporation is a citizen of any state in which it has been incorporated and of the state
where it has its principal place of business.
When a provision of an endorsement conflicts with a provision of a policy, the
endorsement controls.
For tort liability to be imposed, the perpetrator of the tort must have acted with the
intent to do wrong.
Consumers must re-register every three years in order to stay on the National Do Not
Call Registry.
A corporation generally may avoid a transaction because of a director's secret
disqualification, such as a conflict of interest.
