Questions from Business Law

Q: In 1996, Congress offered national banks the opportunity to become Subchapter

In 1996, Congress offered national banks the opportunity to become Subchapter S entities. Amboy Bancorporation was a small, highly profitable New Jersey Bank that was overcapitalized. Amboy ’ s presid...

Q: Sonya Kaminski purchased from Billy Cain ’ s Cornelia dealership a truck

Sonya Kaminski purchased from Billy Cain ’ s Cornelia dealership a truck that was represented to her to be a 1989 Chevrolet Silverado pickup. However, subsequent incidents involving repair of the truc...

Q: Mrs. Kirby purchased a wheelchair from NMC/ Continue Care.

Mrs. Kirby purchased a wheelchair from NMC/ Continue Care. The wheelchair was customized for her and her home. When the wheelchair arrived, it was too wide to fit through the doorways in her home. Wha...

Q: Valerie and Flora are the beneficiaries of a trust left to them

Valerie and Flora are the beneficiaries of a trust left to them by their mother upon her death. Their mother named Art Casanelli, a family friend, as the trustee. Flora has seen Art driving a new car...

Q: McInnis purchased a tractor and scraper as new equipment of the current

McInnis purchased a tractor and scraper as new equipment of the current model year from Western Tractor & Equipment Co. The written contract stated that the seller disclaimed all warranties and that n...

Q: Elmore purchased a car from Doenges Brothers Ford. The car had

Elmore purchased a car from Doenges Brothers Ford. The car had been placed with the dealership by a dealership employee as part of a consignment arrangement. Elmore was unable to obtain title to the c...

Q: Gloria maintains a checking account at First Bank. On the third

Gloria maintains a checking account at First Bank. On the third day of January, the bank sent her a statement of her account for December accompanied by the checks that the bank had paid. One of the c...

Q: Stock Solution is a “stock photo agency” that leases photographic

Stock Solution is a “stock photo agency” that leases photographic transparencies produced by professional photographers for use in media advertising. Between October 1, 1994, and May 31, 1995, Stock S...

Q: Dean bought a car from Cannon. As payment, Dean gave

Dean bought a car from Cannon. As payment, Dean gave him a check drawn on South Dorchester Bank of Eastern Shore Trust Co. Cannon cashed the check at the Cambridge Bank of Eastern Shore Trust Co. The...

Q: John G. Vowell and his wife, now deceased,

John G. Vowell and his wife, now deceased, had a checking account and a savings/money-market account with Mercantile Bank of Arkansas. In June 1997, Dr. Vowell and his wife allowed their daughter, Su...