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A limited liability company is treated like a partnership under federal tax law and has
the limited liability feature of corporations.
A security agreement must be backed by a written record even if the creditor has
possession of the collateral.
Any disclaimer by an accountant that excludes liability for malpractice based on
negligence is void.
A bona fide purchaser of stock is shielded from the claim that the transfer was made in
violation of a transfer restriction that was unknown to the purchaser and that was not
noted conspicuously on the certificate.
When a special indorsement is made, the instrument continues to be order paper and
may be negotiated only by an indorsement and delivery.
