Questions from Business Law

Q: Distinguish between voluntary filing and involuntary filing in bankruptcy.

Distinguish between voluntary filing and involuntary filing in bankruptcy.

Q: Distinguish between the two basic kinds of commercial paper: promises to

Distinguish between the two basic kinds of commercial paper: promises to pay (notes) and orders to pay (checks and drafts).

Q: Identify the parties to commercial paper.

Identify the parties to commercial paper.

Q: List and explain the nonessentials for negotiability of commercial paper.

List and explain the nonessentials for negotiability of commercial paper.

Q: Forrer was an employee of Sears for many years. He eventually

Forrer was an employee of Sears for many years. He eventually left because of health problems and began operating a farm. Sears persuaded Forrer to return to work on a part-time basis, and about one m...

Q: Identify the purpose of endorsing commercial paper.

Identify the purpose of endorsing commercial paper.

Q: Explain when presentment of commercial paper occurs.

Explain when presentment of commercial paper occurs.

Q: Describe when commercial paper is deemed dishonored.

Describe when commercial paper is deemed dishonored.

Q: Distinguish between real and personal property.

Distinguish between real and personal property.

Q: Define and explain the purpose of a bailment.

Define and explain the purpose of a bailment.