31, 32, 34, 35, 36, 37, 51
I. LLCs a. Limited Liability Company b. Must operate LLC, Limited Liability Company c. Asset protection strategy i. See McFarland at p760 1. McFarland is a guy who works at a Nursing home and something happens that he
What is meant by course and scope of employment for
purposes of respondeat superior? What are the criteria to
consider on whether or not the employee was within the
1. Real property means that lands and everything permanently attached to it, including
structures and anything attached permanently to the structures. Immovable
2. Personal property capable of being moved, can be tangible or intangible. Mos
Secured Transactions Terms Study Guide
Secured Party: any creditor who has a security interest in the debtors collateral.
Debtor: party who owes payment or other performance of secured obligation.
Security Interest: interest in the collateral (such as per
Creditors Rights Terms Study Guide
Loan: unsecured (signature note) and secured by real property.
Credit purchase: secured by real property and secured by personal property
Note Evidencing the Debt: a contract between the lender and debtor
Deed of Trust:
Real Property Terms Study Guide
Real Property: the land and everything permanently attached to it, including
structures and anything attached permanently to the structures.
Fixtures: a thing affixed to realty can viewed as real property because it can be
Personal Property Terms Study Guide
Personal Property: anything that isnt real property. Anything that is movable, it
can be either tangible or intangible.
Trade Fixture: personal property that is installed for a commercial purpose by a
Insurance Terms Study Guide
Policy: an insurance contract
Premium: consideration paid to insurer
Underwriter: what insurance company is sometimes called
Insurer: parties to an insurance policy
Insured: person covered by insurers provision.
Agent: who insu
Agency Formation Terms Study Guide
Agency: principal authorizes agent to act on principals behalf in dealing with
Fiduciary Relationship: a person having a duty created by his or her undertaking
to act primarily for anothers benefit in matt
The Window AC Story
Loft would not cool, put in a window air-conditioner. Air-conditioner is
During time of sale, the contract with the buyer does not include anything
about the air-conditioner. Silent-buyer doesnt say anyt
An insurance contract is called a policy; the consideration paid to the insurer
is called a premium.
The person that takes out the insurance policy (life or property) and makes
payments on the policy is the owner of the policy (policyholder).
W 18-Jan cp 1 BLAW 3312-002 & 003 Spring 2012
Cell phone sign up
Seat Sign Up
RA cp 1
RA cp 2
Student Q's answered in documents
BLAW REVIEW TEST II
Life Insurance (p.1008)
Owner (Policy Holder)- Person who fills out the application for the life insurance and pays the premiums, may be
taking out on his or her own life or the life of some third party
1. Must Name a Benefic
CH. 42- Securities Law and Corporate Governance
VI. Securities Regulation and Investor Protection
Example: you have an alien that crashed into planet Earth. That crash happens into federal court
house and rests where all the law books are. Alien randomly
Bailment-if you loan your lawn mower to neighbor thats a bailment
Bill of lady-buyer needs it in order to pick up goods.
Warehouse receipt-owner of the goods stores good in warehouse, youd be issued a receipt, what if
something happens to the receipt? Buy
TEST 2 Chapter 37: Partnerships and
Limited Liability Partnerships
Monday, October 26, 2015
A. The law governing partnerships - both by common law concepts (those relating to agency)
and by statutory law.
B. Definition of partnership
TEST 2 Chapter 36: Sole Proprietorship
Monday, October 26, 2015
A. Sole Proprietorships
In sole proprietorship, the owner is the business; thus anyone who does business
without creating a separate business organization has a sole pr
EXAM 1 REVIEW
Tuesday, October 6, 2015
1. What are the differences between the following?
a. An ordinary written will, properly signed and witnessed - the writing itself can be
as informal as long as it substantially complies with th
CHAPTER 48 notes
Property Law can be introduced by a Legal Maxim (statement that expresses a particular truth or
Possession is the basis of all ownership (is it capable of being owned?)
1. Personal Property - tangible (ball point pen) intangibl
This means it is defined somewhere else in the text
1. Policy holder - the person who fills out the application for the life insurance and pays the
premiums that person may be taking out a policy on his or her own life but he might be
Pg 638 definition of an agency is an arrangement between two people one of whom is called a
principal the other is called the agent and in that relationship if the principal authorizes the agent
to act on behalf of the principal i
Liability to Third Parties Terms Study Guide
Express Authority: authority declared in clear, direct, and definite terms.
Express authority can be given orally or in writing.
Power of Attorney: a written document and is usually notarized. An agent who