M 621 Midterm 1

subject Type Homework Help
subject Pages 2
subject Words 181
subject Authors David P. Twomey, Marianne M. Jennings

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The general view is that the owner of land owns the space above the land, subject to the
rights of flying aircraft, even if the aircraft interferes with the use of the land and
represent a danger to persons or property on the land.
In most states the usury laws apply to loans made to both individuals and corporations.
Any shareholder owning more than five (5) percent of any class of the corporation's
equity securities is statutorily defined as an insider and must file with the SEC a
disclosure statement regarding such ownership and all related transactions.
By operation of law, the trustee automatically becomes the owner of all of the
debtor€s property in excess of the property to which the debtor is entitled under
exemption laws.
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Even if part of a contract is illegal, the court may enforce a divisible, legal part of the
contract.

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