November 27, 2013
Ch 42 Securities Law
1) What is the major difference between the Securities Act of 1933 & 1934?
a) The Securities Act of 1933 is created to prohibit various forms of fraud and to stabilize the
securities industry by requiring
CH 51 WILLS & TRUSTS #2
1) How does a trust work?
2) Distinguish between
a) Living and Testamentary Trusts
b) Revocable and Irrevocable Trusts
3) Distinguish between
a) Durable Power of Attorney
b) Health Care Power of Attorney (known as a Health Care Pro
1) Differentiate between the Landlord's covenant of Quiet Enjoyment and the Landlord's Implied
Warranty of Habitability.
2) Differentiate between a tenant's assignment and a sublease.
1) Landlords covenant of Quiet Enjoyment is a Covenant that promises th
CH 27 DEFENSES & LIMITATIONS #1
1) Please distinguish between the legal effect of a personal defense and a universal defense. see Exhibit
26-2 on page 48 for a summary of these defenses.
2) Distinguish between fraud in the inducement and fraud in the exec
CH 25 NEGOTIABLE INSTRUMENTS
1) Compare and Contrast Drafts and Promissory Notes. Be sure to include the identity of the parties on
2) In order to make a Draft or a Note an acceptable cash equivalent for commercial transactions, the
CH 26 HOLDER IN DUE COURSE #2
1) What makes a Holder in Due Course magical as compared to an ordinary holder?
2) How does one qualify as a HDC?
3) When is a check deemed "overdue"?
4) What is the shelter principle?
1) When an instrument is transferred, an
1) Compare and contrast the following forms of concurrent ownership
a) Tenancy In Common
b) Joint tenancy
c) Tenancy By the Entirety
2) What are the necessary components of a valid deed?
3) Compare and contrast the following types of deed:
CH 28 BANKING
1) Please summarize The 3 different relationships between Bank and customer in Section 2 of the
2) Distinguish between a cashier's check and a certified check. What advantages and disadvantages do
they have to a personal check?
CH 33 AGENCY LIABILITY & TERMINATION
1) Discuss the four (4) ways that a principal could be found contractually liable to a third party for an
2) Discuss how an agent can be found contractually liable personally for his/her actions.
CH 32 AGENCY FORMATION & DUTIES
1) It is stated that agency relationships are consensual. How does that different than contractual? Can
you give an example of an agency relationship that is NOT contractual?
2) Can you distinguish between the agent's duty
CH 26 NEGOTIABLE INSTRUMENT TRANSFERS #1
Negotiation is the way to "magically" transfer a negotiable instrument. Unless done correctly, the
transfer would only qualify as an assignment of a contract right.
1) What is the difference between an order instru
CH 27 LIABILITY & DISCHARGE #2
1) Distinguish between Primary Signature Liability and Secondary Signature Liability
2) Who is primarily liable on a note? On a draft?
3) What is the difference between a drawee and an acceptor?
1. Primary signature liabilit
List 3 advantages and disadvantages of sole proprietorships
o The proprietor owns the entire business and receives all of the profits
o Less costly than starting any other kind of business, as few legal formalities are required
September 16, 2013
CH 52 WILLS
1. The following are the requirements of creating a valid will:
The testator must be at least 18 years old and sound mind when the Will is made.
The Will must be written except for nuncupative wills
The Will has
November 20, 2013
CH 40 DIRECTORS and OFFICERS
1) How does a director get to be a director?
A director is elected by the majority votes of the shareholders.
2) How does an officer get to be an officer?
The board of directors searches for and h
December 9, 2013
1) What is the main difference between a Liquidation proceeding under Ch 7 of the bankruptcy
code and a Reorganization under Ch 11 of the Bankruptcy Code?
Under CH 7 of the bankruptcy code is the most familiar type
1. Compare and contrast the following forms of concurrent ownership
a. All tenants in common hold an individual, undivided ownership of interest in the
property; which means that each party has the right to alienate or transfer ownership
interest. In a te
1) What is the distinction between "Quid pro quo" sexual harrassment and "hostile environment"
a. Quid pro quo harassment occurs when sexual favors are demanded in return for job
opportunities, promotions, salary increases, or other
1. Read the case on page 808-809
a. How was a tender offer effectuated here by Air Products?
i. The opposing company was offering less money that what the stock was worth,
which couldve let to debt if it was accepted
b. What takeover defense was employed
1. How does a director get to be a director?
a. Vacancies occur on the board if a director dies or resigns or when a new position
is created through amendment of the articles or bylaws.
b. By voting
2. How does an officer get to be an officer?
Business Law 2 Midterm
Chapter 49- Real Property and Landlord-Tenant Law
Forms of concurrent ownership: Persons who share ownership rights in particular
property (real and personal)
o Tenancy in Common: Each of two or more persons owns an undivided
1. What are the requirements for a valid will?
a. Age of majority: person writing the will must be atleast 18 years of age
b. Legal capacity: person writing the will must be in the right state of mind
c. Voluntary intent: the making of the will cannot be
Chapter 37 & 38 Assignment
1. Referring to the disadvantages of sole proprietorships versus other forms of doing
business, how does the regular partnership form of doing business affect those
a. A partnership is an association of two or mor
CH 50 HW
Concurrent Property Ownership are in three forms listed in the following:
1. Tenancy in Common
2. Joint Tenancy
3. Tenancy by the Entity
Tenancy in Common (TIC) is the most popular form among the three types of concurrent prope