M 857 Midterm 1

subject Type Homework Help
subject Pages 4
subject Words 334
subject Authors Henry R. Cheeseman

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The legal rule of imputed knowledge means that the principal is assumed to know what
the agent knows.
An act of an employer to prevent employees from entering the work premises when the
employer reasonably anticipates a strike is known as an employee lockout.
The secretary-general of the United Nations (UN) is elected by the Security Council.
Intangible personal property cannot be used as collateral for a security agreement.
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A beneficiary under a will cannot be a witness of that will.
A lien release signed by a supplier prevents the supplier from later pursing a mechanic's
lien against real property.
Under the innkeepers' statutes, innkeepers owe a duty of strict liability regarding loss
caused to the personal property of transient guests.
A corporation is dissolved upon the effective date of the articles of dissolution.
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The third category of the nonattainment areas is labeled 'serious."
In a manager-managed LLC (limited liability company), amending the articles of
organization cannot be delegated to the managers.
Any corporation with more than 100 shareholders is automatically considered a C
corporation for federal income tax purposes.
If the federal government has chosen not to regulate an area of commerce despite
possessing the Commerce Clause powers to regulate it, the area is subject to Dormant
Commerce Clause.
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A guaranty contract between people with no bad credit history can be oral.
The Fifth Amendment protects people from unreasonable search and seizure by the
government.

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