Corporations today outnumber unincorporated business associations plus sole
proprietorships.
The Statutory Close Corporation Supplement to the Model and Revised Acts applies
only to corporations having fewer than forty shareholders.
‘Dissolution’ of a partnership and ‘termination’of a partnership are synonymous.
Homemade Soup Co. has advertised their soup in certain magazines using photographs
showing bowls of their soup with pebbles at the bottom of the bowl. The pebbles were
used to displace the soup in the bowl, forcing the vegetables and meat to the surface.
This photographer’s trick made the soup appear heartier than it was. An FTC staffer is
thumbing through the latest edition of her favorite magazine. She notices the
Homemade Soup Co. ad and goes to her kitchen, opens a can of Homemade’s soup and
decides that her bowl of soup looks nothing like the one in the ad. What are the steps
the FTC would take to proceed against Homemade Soup Co.?
Where a contract is unenforceable because of the statute of frauds, a party may recover
the benefits conferred on the other party in reliance on the contract.
A creditor of a limited partner may obtain a charging order against the limited partner’s
interest in the partnership, thereby obtaining the rights of an assignee of the partnership
interest.
The Fair Debt Collection Practices Act applies directly to creditors.
E-Sign was enacted by Congress in 2000 and makes electronic records and signatures
valid and enforceable across the United States for many types of transactions in or
affecting interstate or foreign commerce.
An automatic stay would not prevent a creditor from creating a lien against the debtor’s
property.
Deontologists are criticized for rigidity and excessive formalism.