Questions from Business Law

Q: Pritchard & Baird was a reinsurance broker. A reinsurance broker arranges

Pritchard & Baird was a reinsurance broker. A reinsurance broker arranges contracts between insurance companies so that companies that have sold large policies may sell participations in these policie...

Q: Horton owned one hundred twelve shares of common stock in Compaq Computer

Horton owned one hundred twelve shares of common stock in Compaq Computer Corporation , a Delaware corporation. Horton and seventy-eight other parties sued Compaq, fifteen of its advisers, and certain...

Q: The Brazilian Equity Fund, Inc., is a nondiversified, publicly

The Brazilian Equity Fund, Inc., is a nondiversified, publicly traded, closed-end investment company incorporated under the laws of Maryland. As a closed-end fund, it has a fixed number of outstanding...

Q: Raymond Johnson snatched a purse that had been left in an unattended

Raymond Johnson snatched a purse that had been left in an unattended car at a gas station. The purse contained both money and a firearm. Johnson was convicted for the crimes of grand theft of property...

Q: Ray fell from a defective ladder while working for his employer.

Ray fell from a defective ladder while working for his employer. Ray brought suit in strict tort liability against the Alad Corporation (Alad II), which neither manufactured nor sold the ladder to Ray...

Q: McLoon, Morse Bros., and T-M Oil Companies were

McLoon, Morse Bros., and T-M Oil Companies were closely held companies entirely owned by members of the Pescosolido family, under the leadership of Carl Pescosolido, Sr. His sons, Carl Jr. and Richard...

Q: National Cash Register Company (NCR), a manufacturer of cash registers

National Cash Register Company (NCR), a manufacturer of cash registers, entered into a sales contract for a cash register with Edmund Carroll. On November 18, Firestone and Company made a loan to Carr...

Q: National Acceptance Company loaned Ultra Precision Industries $692,000 and

National Acceptance Company loaned Ultra Precision Industries $692,000 and to secure repayment of the loan Ultra executed a chattel mortgage security agreement on National’s behalf on March 7, 2015. N...

Q: Elizabeth Tilleraas received three student loans totaling $3,500 under

Elizabeth Tilleraas received three student loans totaling $3,500 under the Federal Insured Student Loan Program (FISLP) of the Higher Education Act. These loans were secured by three promissory notes...

Q: New West Fruit Corporation (New West) and Coastal Berry Corporation

New West Fruit Corporation (New West) and Coastal Berry Corporation are both brokers of fresh strawberries. In the second half of 2019, New West’s predecessor, Monc’s Consolidated Produce, Inc., loane...