Q: Al’s Retail Store is a sole proprietorship. Smith & Jones is
Al’s Retail Store is a sole proprietorship. Smith & Jones is an advertising partnership. Roth & Associates, Inc., is a professional corporation. First State Savings & Loan is a savings and loan associ...
See AnswerQ: Tanner borrows $150,000 from Southeast Credit Union to buy
Tanner borrows $150,000 from Southeast Credit Union to buy a home, which secures the loan. Two years into the term, Tanner stops making payments on the loan. After six months without payments, Southea...
See AnswerQ: Neal applies to Farm Insurance Company for a life insurance policy.
Neal applies to Farm Insurance Company for a life insurance policy. On the application, Neal understates his age. Neal obtains the policy, bur for a lower premium than he would have had to pay had he...
See AnswerQ: Al is divorced and owns a house. Al has no reasonable
Al is divorced and owns a house. Al has no reasonable expectation of benefit from the life of Bea, his ex-spouse, but applies for insurance on her life anyway. Al obtains a fire insurance policy on th...
See AnswerQ: Dave and Paul share rights in a multimedia computer. When they
Dave and Paul share rights in a multimedia computer. When they acquired the computer, they agreed in writing that if one dies, the other inherits his interest. Are Dave and Paul tenants in common? Exp...
See AnswerQ: Evelyn works in the commercial loan department of Founders Bank. In
Evelyn works in the commercial loan department of Founders Bank. In the bank’s parking lot, she finds an envelope that contains $10,000 in cash. The envelope is addressed to Geo Properties LLC, an inv...
See AnswerQ: Bob leaves his clothes with Corner Dry Cleaners to be cleaned.
Bob leaves his clothes with Corner Dry Cleaners to be cleaned. When the clothes are returned, some are missing and others are greasy and smell bad. Is Corner liable? Why or why not?
See AnswerQ: Rosa de la Mar Corporation ships a load of goods via Southeast
Rosa de la Mar Corporation ships a load of goods via Southeast Delivery Company. The load of goods is lost in a hurricane in Florida. Who suffers the loss? Explain.
See AnswerQ: Eve and Frank own twenty acres of land on which there is
Eve and Frank own twenty acres of land on which there is a warehouse surrounded by a fence. What is the most important factor in determining whether the fence is a fixture?
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