Questions from Business Law

Q: Incorporated under Venezuelan law, a subsidiary of U.S.-

Incorporated under Venezuelan law, a subsidiary of U.S.-based Helmerich & Payne International Drilling Company supplied oil-drilling rigs to entities that were part of the government of Venezuela. The...

Q: Thomas Caraccia signed a note and mortgage in favour of Virtual Bank

Thomas Caraccia signed a note and mortgage in favour of Virtual Bank to obtain funds to buy property in Palm Beach Gardens, Florida. Virtual Bank indorsed the note in blank, making it bearer paper, an...

Q: Robert Triffin purchased a dishonored payroll check from Fair Law Financial Services

Robert Triffin purchased a dishonored payroll check from Fair Law Financial Services (doing business as United Check Cashing) and filed a complaint against the maker seeking to collect on the check. T...

Q: Background and Facts, When Sidney Solberg died, 100 mineral acres

Background and Facts, When Sidney Solberg died, 100 mineral acres—that is, the right to all of the minerals under a certain 100 acres—and other real property in his estate were distributed to his wido...

Q: Padraic Gillespie, a student at the University of North Texas,

Padraic Gillespie, a student at the University of North Texas, borrowed $12,500 from Bank One, N.A., under its Education One loan program and signed a note for the amount. A few months later, the Educ...

Q: Via e-mail, John Colglazier, commercial account manager at

Via e-mail, John Colglazier, commercial account manager at Don Hinds Ford, Inc., offered to buy twenty Ford Explorers from Beau Townsend Ford Lincoln, Inc., and to pay with a check. Beau Townsend agre...

Q: Roy Supply, Inc., and R. M. R.

Roy Supply, Inc., and R. M. R. Drywall, Inc., had checking accounts at Wells Fargo Bank. Both accounts required all checks to carry two signatures—that of Edward Roy and that of Twila June Moore, both...

Q: The law firm of Levy Baldante Finney & Rubenstein, P.

The law firm of Levy Baldante Finney & Rubenstein, P.C., had a checking account at TD Bank, N.A. The account agreement required notice to the bank of “any problem with a check” within thirty days from...

Q: While working as an executive assistant to David Ducote, Michelle Freytag

While working as an executive assistant to David Ducote, Michelle Freytag fraudulently obtained a credit card in Ducote’s name from Whitney National Bank in New Orleans, Louisiana. Freytag told Whitne...

Q: Woodsmill Park Limited Partnership borrowed $6.2 million secured by

Woodsmill Park Limited Partnership borrowed $6.2 million secured by real property in Chicago, Illinois. Bill and Brian Bruce and Matthew O’Malley signed guaranties to meet Woodsmill’s obligation on th...