Questions from Business Law

Q: In 1942, Congress passed the Emergency Price Control Act in the

In 1942, Congress passed the Emergency Price Control Act in the interest of national defense and security. The stated purpose of the Act was “to stabilize prices and to prevent speculative, unwarrante...

Q: The Public Company Accounting Oversight Board (PCAOB) was created as

The Public Company Accounting Oversight Board (PCAOB) was created as part of a series of accounting reforms in the Sarbanes-Oxley Act of 2002. The PCAOB is a governmentally created entity with expansi...

Q: R&A Concrete Contractors, Inc., executed a promissory note

R&A Concrete Contractors, Inc., executed a promissory note that identifies both R&A Concrete and Grover Roberts as its makers. On the reverse side of the note, the following appears: “X John Ament Sec...

Q: On August 10, 2019, Theta Electronic Laboratories, Inc.,

On August 10, 2019, Theta Electronic Laboratories, Inc., executed a promissory note to George and Marguerite Thomson. Three other individuals, Gerald Exten, Emil O’Neil, James Hane, and their wives al...

Q: Attorney Eliot Disner tendered a check for $100,100 to

Attorney Eliot Disner tendered a check for $100,100 to Sidney and Lynne Cohen. In drawing the check, Disner was serving as an intermediary for his clients, Irvin and Dorothea Kipnes, who owed the mone...

Q: Vincent Medina signed a check in the amount of $34,

Vincent Medina signed a check in the amount of $34,348 written on the account of First Delta Financial, a family corporation owned and controlled by Medina. His corporate title did not appear before h...

Q: Laboratory Management deposited into its account at Pulaski Bank a check issued

Laboratory Management deposited into its account at Pulaski Bank a check issued by Fairway Farms in the amount of $150,000. The date of deposit was February 5. Pulaski, the depositary bank, initiated...

Q: On Tuesday, June 11, Siniscalchi issued a $200 check

On Tuesday, June 11, Siniscalchi issued a $200 check on the drawee, Valley Bank. On Saturday morning, June 15, the check was cashed. This transaction, as well as others taking place on that Saturday m...

Q: Morvarid Kashanchi and her sister, Firoyeh Paydar, held a savings

Morvarid Kashanchi and her sister, Firoyeh Paydar, held a savings account with Texas Commerce Medical Bank. An unauthorized withdrawal of $4,900 from the account was allegedly made by means of a telep...

Q: Tally held a savings account with American Security Bank. On seven

Tally held a savings account with American Security Bank. On seven occasions, Tally’s personal secretary, who received his bank statements and had custody of his passbook, forged Tally’s name on withd...