Questions from Business Law

Q: Germanie Fequiere executed and delivered a promissory note in the principal amount

Germanie Fequiere executed and delivered a promissory note in the principal amount of $240,000 to BNC Mortgage. As security for the note, Fequiere executed and delivered a mortgage on real property. B...

Q: Celine issues a ninety-day negotiable promissory note payable to the

Celine issues a ninety-day negotiable promissory note payable to the order of Hayden. The amount of the note is left blank, pending a determination of the amount that Hayden will need to purchase a us...

Q: Damion and Kiya Carmichael took out a loan from Ameriquest Mortgage Co

Damion and Kiya Carmichael took out a loan from Ameriquest Mortgage Co. to refinance their mortgage. They signed a note to make monthly payments on the loan. Later, Deutsche Bank National Trust Co. ac...

Q: As an assistant comptroller for Interior Crafts, Inc., in Chicago

As an assistant comptroller for Interior Crafts, Inc., in Chicago, Illinois, Todd Leparski was authorized to receive checks from Interior’s customers and deposit the checks into Interior’s account. Ov...

Q: LaSalle Bank loaned $8 million to Cypress Creek 1, LP

LaSalle Bank loaned $8 million to Cypress Creek 1, LP, to build an apartment complex. The loan was secured by a mortgage. Cypress Creek hired contractors to provide concrete work, plumbing, carpentry,...

Q: In June 1995, Michael and Debra Boudreaux, doing business as

In June 1995, Michael and Debra Boudreaux, doing business as D&J Enterprises, Inc., bought a retail electronics store operated under a franchise from Radio Shack. They borrowed from Cabool State Bank...

Q: Nuclear power plants use low-enriched uranium (LEU) as

Nuclear power plants use low-enriched uranium (LEU) as a fuel. LEU consists of feed uranium enriched by energy to a certain assay—the percentage of the isotope necessary for a nuclear reaction. The am...

Q: Go to Case 29.1, Picerne Construction Corp. v

Go to Case 29.1, Picerne Construction Corp. v. Villas. Read the excerpt and answer the following questions. (a) Issue: What statutory term was the focus of the dispute in this case? Why? (b) Rule of L...

Q: G&K Farms, a North Dakota partnership, operated a

G&K Farms, a North Dakota partnership, operated a farm in Texas. G&K was insured under the Supplemental Revenue Assistance Payments Program (SURE), through which the federal government provides financ...

Q: Caroline McAfee loaned $400,000 to Carter Oaks Crossing.

Caroline McAfee loaned $400,000 to Carter Oaks Crossing. Joseph Harman, president of Carter Oaks Crossing, signed a promissory note providing that the company would repay the amount with interest in i...