Business Law Final
Bobby has fifteen creditors. To force Bobby into bankruptcy proceedings, at least three creditors must join the petition and their unsecured claims must add up to at least
14425
Caramello Chip & Cookie Corporation (4C) obtains, and gives its employees, a list of the customers of Sugar & Spice Sales, Inc. (3S). Under the law that applies to trade secrets, 4C's conduct is actionable provided
4C does not have 3S's permission to use the list.
Ada is the maker of a note, on which Bart is secondarily liable. Cash & Credit Company (C&C) is the current holder of the note. Bart will be obligated to pay the note if
Ada defaults on the note.
Dru signs a check "pay to the order of Eppie" drawn on Dru's account in Bayside Bank. Greta forges Eppie's indorsement. Bayside pays the check. Most likely
Bayside will have to recredit Dru's account.
Burt, a mentally impaired person, is asked by Carl to sign a piece of paper that Carl says is an autograph book. In fact, the document is a note. If later sued on the note by an HDC
Burt's best defense would be fraud in the execution.
Wilson wants to file an ordinary, or straight, bankruptcy. Wilson should file using
Chapter 7.
Ewa is Diamond Financial Planners' most productive employee. She is dissatisfied with the commission structure, however, so she quits to work for Feldstar Investments, Inc. When she leaves Diamond's employ, she takes her list of Diamond's clients so that she can induce them to switch to Feldstar. Trade secrets law covers
Diamond's list of clients.
Cash National Bank is an HDC of a note for $1,000 on which there is the forged signature of "Dudley." If sued on the note by Cash
Dudley's best defense would be forgery.
Elvin publishes a book titled First Place, which includes a chapter from Frank's copyrighted book Olympic Winners & Losers. Elvin's use of the chapter is actionable provided
Elvin does not have Frank's permission.
Jack owns the surface rights for Rocky Ridge Ranch, but does not own the subsurface rights. Ginny owns the subsurface rights. Rocky Ridge Ranch has a historic barn, which is damaged when Ginny is excavating minerals from the ranch. Who is most likely responsible for the damage to the barn?
Ginny only
Joey reproduces Mina's copyrighted work Storm on the Mountainwithout paying royalties. Joey is most likely excepted from liability for copyright infringement under the "fair use" doctrine if
Joey's use has no effect on the market for Mina's work.
Ellen pays State Bank $500 plus a service fee to draw a check on itself payable to Paul's Plumbing. Which of the following parties is responsible for paying the check?
Only State Bank
A petition for a discharge in bankruptcy under Chapter 11 may be filed by
Pacific Mountain Railroad.
Opalina asks Paolo, who does not understand English, to sign what Opalina says is an application to open a bank account. In fact, the "application" is a note. If sued on the note by an HDC
Paolo's best defense would be fraud in the execution.
Portia owes Bon $500 on their contract, but refuses to pay. To collect, Bon files a mechanic's lien, under which security for the debt is represented by
Portia's real estate.
Reed borrows $150,000 from Suburban Credit Union to buy a home, which secures the loan. Three years later, Reed stops making payments on the loan. After Suburban Credit repossesses and auctions off the property to Tyler, equity remains. This amount most likely belongs to
Reed.
RiteMade Machinery, Inc., designs, makes, and sells a drillpress. Steel Equipment Company copies the design without RiteMade's permission. Steel's conduct is actionable provided that
RiteMade's design is patented.
Sayers is very clever and spends lots of time creating new things. Which of the following is not copyrightable?
Sayers's idea for a new way to play the guitar
Which of the following can not be registered as a trade name?
Strawberries
Finance Bank receives a check drawn on the account of Get-Rich Industries, Inc., one of the bank's customers, at 3 p.m. Friday. Hildy, the presenter of the check, is not one of the bank's customers. The bank uses deferred posting with a 2 p.m. cutoff hour. If it decides to dishonor the check, it must do so by midnight
Tuesday.
Simon signs a check "pay to the order of Tilly" drawn on Simon's account in United Bank. Vela forges Tilly's indorsement, First Federal Bank cashes the check, and Vela disappears. United pays First Federal and debits Simon's account. Most likely, the ultimate loss will fall on
United Bank.
Trudy forges Uma's signature on a check "payable to the order of Trudy" drawn on Uma's account in Verity Bank. Most likely, if the bank pays the check
Verity will have to recredit Uma's account.
Community Trust Bank provides Devlin with a mortgage to buy a home. The rate of interest is fixed for seven years. At the end of that period, a large payment for the entire balance of the mortgage loan is due. This is
a balloon mortgage.
Money Mortgage Mart makes a short-term loan to Natalie to allow her to make a down payment on a new home before selling her current home. This is
a bridge loan
Elmo pays First National Bank $1,000 plus a service fee to draw a check on itself made payable to Go Delivery Service. This is
a cashier's check.
Refer to Fact Pattern 16-1. Under federal law, disclosures with respect to one of Northeast's loans must be provided
a certain number of days before the loan is finalized.
Refer to Fact Pattern 16-2. Under federal law, disclosures with respect to one of 24-Hour Credit's loans must be provided
a certain number of days before the loan is finalized.
Kris presents an instrument that states "pay to the order of Kris" to Metro Bank for payment. This is a special type of draft drawn on a bank, ordering the bank to pay a fixed amount of money on demand. This is
a check.
Scott presents an instrument that states "pay to the order of Scott" to Town Bank for payment. This instrument is the most common type of negotiable instrument, which is
a check.
Ian buys a cell phone in Jiffy Mart, using the means that accounts for more retail payments than any other. This means of payment is
a debit card.
Donna goes through an involuntary bankruptcy proceeding. An involuntary bankruptcy occurs when
a debtor's creditors force the debtor into bankruptcy proceedings.
Upton borrows $150,000 from Valley Credit Union to buy a home, which secures the loan. Three years into the term, Upton stops making payments on it. Valley Credit repossesses and auctions off the property to Wesley. The sale proceeds are not enough to cover the unpaid amount of the loan. In most states, Valley Credit can ask a court for
a deficiency judgment.
Dora leases a house from Evan for a two-year term. To ensure the validity of their lease, it should include
a description of the property.
Alpha Company issues a trade acceptance with itself and Beta Company as parties. A trade acceptance is
a draft.
Bess wishes to appeal a decision from a federal bankruptcy court. Bess must appeal to
a federal district court.
Refer to Fact Pattern 24-1. Nika's ownership interest is
a fee simple absolute.
Liberty Bank provides Michelle with a standard mortgage with an unchanging rate of interest to buy a home. Payments on the loan remain the same for the duration of the mortgage. This is
a fixed-rate mortgage.
Muffins-2-Go buys a truck from Street Vehicles, Inc., under a contract signed by Riley, Muffins-2-Go's president, making him personally liable if Muffins-2-Go does not pay the loan. Riley is
a guarantor.
Rita borrows $30,000 from South State Credit Union. South State accepts Rita's equity in her home as collateral, which can be seized if the loan is not repaid on time. This is
a home equity loan.
Mary Kate Corporation allows Ashley Company to use Mary Kate's trademark as part of Ashley's domain name. This is
a license.
Joe files a voluntary petition for Chapter 7 bankruptcy. His petition does not need to include
a list of the occupations of all Joe's creditors.
Alf rents an apartment. The lease does not specify how long it will last, but it does specify that Alf must pay rent every month. Alf has
a periodic tenancy.
Cow Country Corporation (CCC) sells half of its land to the Double R Ranch. On the land is a reservoir. In the deed, CCC retains the right to remove a limited amount of water per day from the reservoir. This right is
a profit.
Checkerboard Pizza, Inc. (CPI), files for bankruptcy under Chapter 11. CPI's Chapter 11 plan must contain
a provision of adequate means for the plan's execution.
Trek Transport Company uses a mark associated with its name to distinguish its services from those of other trucking firms. This mark is
a service mark.
Wendy works as a weather announcer for a TV station under the character name Weather Wendy. Wendy can register her name as a
a service mark.
Erin and Dooley, a married couple, borrow $120,000 from Capital & Credit Bank to buy a home. When Erin and Dooley divorce, they are unable to make payments on the mortgage. The market value of the home has declined to less than the balance of the loan. Capital & Credit agrees to a sale of the property for this amount. This is
a short sale.
Brendan signs a check "pay to the order of City College Bookstore" drawn on his account in Delta Bank to pay for his current semester's textbooks. The bookstore deposits the check in its account in Eagle Bank. Like most checks, this check is
a special type of draft.
Dhani signs a check "pay to the order of Etan" drawn on Dhani's account in First State Bank and dates the check "May 1." Etan presents the check to the bank for payment on December 15. This is
a stale check.
Franz asks Gateway Mortgage Credit for a loan to pay for the purchase of a home. With a poor credit score and a high current debt-to-income ratio, Franz does not qualify for a standard mortgage. Gateway is most likely to provide
a subprime mortgage.
Ross, an employee at Super Snowboard Company, is laid off. Before he exits Super's building, he e-mails the company's marketing campaign to Winter Sports Corporation, Super's competitor, without permission. This is
a theft of trade secrets.
Main Street Lenders, Inc., attempts to coerce Nolan—who specializes in determining the value of real and personal property—into misstating the value of a property on which a loan is to be issued. This is
a violation of the law.
Shade Tree Lending Corporation advertises loans as fixed-rate loans but, in fact, their rates or payment amounts will change. This is
a violation of the law.
A barge owned by Oceanic Shipping Company discharges some of the oil contained in its hold into the sea and onto the shore. Under the Oil Pollution Act, this is most likely
a violation.
Metal Smelting, Inc., operates a plant—a "major source"—that emits hazardous air pollutants for which the Environmental Protection Agency has set maximum levels of emission. The plant does not use any equipment to reduce its emissions. Under the Clean Air Act, this is most likely
a violation.
Metro City operates its own municipal public drinking water system for which the Environmental Protection Agency has set maximum levels of pollutants. Metro does not use any equipment to meet these standards. With regard to any contamination of the water, under the Safe Drinking Water Act, this is most likely
a violation.
Without a permit from the U.S. Army Corps of Engineers, Holiday Timeshares, Inc., fills a wetlands area that it owns before constructing a residential resort. Under the Clean Water Act, this is most likely
a violation.
Without a permit, Timberline Plywood Company discharges its untreated wastewater into Urban City's storm drainage pipes, which empty into Valley Creek. Under the Clean Water Act, this discharge is most likely
a violation.
A court awards a judgment to Alice, who is the creditor, against Ada, who is the debtor. After the judgment, Alice requests a court order to seize Ada's property to ensure that the judgment will be collectible. This is
a writ of execution.
John Jones decides to use his personal name for a line of clothing he is developing. Whether or not the name John Jones acquires a secondary meaning will depend on
all of the choices are correct.
Jill, in good faith and for value, gets from Kiley a negotiable bearer instrument. Jill does not know that Kiley stole the instrument. Jill is
an HDC.
Ridgeline Bank provides Stanley with a mortgage to buy a home. The rate of interest is fixed for three years and then adjusts annually. This is
an adjustable-rate mortgage.
Jackie inserts a debit card issued by her bank into a machine and keys in her personal identification number. She is then able to withdraw $500 in cash. Jackie is using
an automated teller machine.
Tyro has the right to drive across Ula's land, which is next to Tyro's property, to reach an access road. Tyro's right is
an easement.
Utility Power Company has the right to run its power lines across Velma's land. This is
an easement.
Consumer Mortgage Loans provides Demi with a mortgage to buy a home. Under the terms, Demi can choose to pay only the interest portion of the monthly payments and forgo paying of the principal for five years. This is
an interest-only mortgage.
Jen signs a check "pay to the order of Key" drawn on Jen's account in Little Bank to buy Key's car. If there are insufficient funds in Jen's account to cover the amount of the check, but the bank pays it, this creates
an overdraft.
Stature Loan Company has notice that a promissory note is overdue if the note is a demand instrument and Stature takes it
an unreasonable time after its due date.
Consumer Credit, Inc. (CCI), lends $1,000 to Joe. Kay acts as Joe's surety. If Kay pays the loan, she gets
any right that CCI had against Joe and a right to be reimbursed by Joe.
Roland files for Chapter 7 bankruptcy. After all his assets have been sold and the proceeds distributed among his creditors, Roland's remaining debts
are discharged.
Kenneth has a periodic tenancy that requires him to pay rent weekly. Kenneth wishes to terminate his tenancy. Under the common law, he must give his landlord
at least one week's notice.
Norma Jean files for Chapter 7 bankruptcy. She turns her assets over to Addie, who sells the assets and then distributes the proceeds to Norma Jean's creditors. Addie is a
bankruptcy trustee.
Dahlia borrows $125,000 from Clearview Credit Union to buy a home. The interest rate and other terms that are required to be disclosed under federal law must be
based on uniform formulas of calculation.
Green River Energy Corporation wants to begin operations that include the discharge of waste into navigable waters. Under the Clean Water Act, Green River must install certain equipment
before beginning operations.
Agnes borrows $110,000 from Bay Harbor Bank to buy a home under a mortgage with an acceleration clause. After eighteen payments, Agnes stops making payments on the mortgage. Bay Harbor
can foreclose once on the entire amount of the loan.
Elinor performs ten hours of house cleaning for Zack in exchange for a promissory note for $400. At the time that Elinor accepts the note, she is aware that bankruptcy proceedings are being filed against Zack. Elinor
can obtain HDC status.
Li'l Canine Company (LCC) uses a trademark that neither LCC nor anyone else has registered with the government. Under federal trademark law, LCC
can register the mark for protection.
Marshall owns a piece of land, but James owns the mineral rights to Marshall's land. James wishes to sell the mineral rights. James
can sell the mineral rights without consulting Marshall.
Gerald files a bankruptcy petition. The resulting automatic stay will apply to Gerald's
car payment debts.
Vending Products Company operates a vending machine manufacturing plant on Wandering River. Discharging pollutants from the plant into the river can result in
civil penalties and criminal penalties.
Lionel files a voluntary petition for bankruptcy under Chapter 7. The court will likely deny a discharge of Lionel's debts if he
conceals records of his financial condition with the intent to defraud a creditor.
Bubbly Cola features Sparkly Cola's trademark without its owner's permission. Bubbly's use of the mark is actionable provided
consumers are confused.
Mace copies Nick's book, MumbaiMonsoon, in its entirety and sells it to Parkland Books, Inc., without Nick's permission. Parkland publishes it under Mace's name. This is
copyright infringement.
Megan goes to visit her friend Kathleen. While visiting, Megan downloads Kathleen's copy of Photoshop onto her computer's random access memory without Kathleen's permission. Megan is guilty of
copyright infringement.
Go!isa handheld video game featuring races between imaginary creatures and vehicles. The graphics used in the game are protected by
copyright law.
Jeannie runs a dude ranch called J Bar B Dude Ranch and has a Website called www,jbarbduderanch.com. Ben starts another dude ranch and registers a Website called www,jbarbduderanch.com. Ben is
cybersquatting.
Laurel borrows $150,000 from Marketplace Mortgage Loans to buy a home. The financing documents require Laurel to maintain the property, obtain homeowners' insurance, and pay all property taxes and other assessments through the lender. With respect to these terms, a court is most likely to
enforce them.
The payment of Hu's debt to Ian is guaranteed by Hu's personal property. To give notice of his interest in Hu's property to other creditors, Ian is most likely to
file a financing statement with the appropriate authority.
Zoe invents "All for One," new business inventory control software, and applies for a patent. If Zoe is granted a patent, it will protect her product
for twenty years.
Denise borrows $90,000 from Clear Lake Credit Union to buy a home. Denise loses her job and fails to make payments on the mortgage, but assures Clear Lake Credit that she will soon secure a new job. The lender agrees to postpone the payments. This is
forbearance.
Velma borrows $110,000 from Watershed Bank to buy a home. If she fails to make payments on the mortgage, the bank has the right to repossess and auction off the property securing the loan. This is
foreclosure.
Silas sells his farm to Kathy. The title is transferred by deed. Kathy is the
grantee.
Jacob writes Phillip an uncertified check for $500 on January 1. Seven months later, Phillip presents the check at the bank. The bank pays the check in good faith without consulting Jacob. The bank
has the right to charge Jacob's account for $500.
Julia opens a checking account with Washington Bank and deposits funds into the account. Julia and Washington Bank
have a creditor-debtor relationship in which Julia is the creditor and Washington Bank is the debtor.
Milo borrows $125,000 from North State Bank to buy a home. To comply with the Statute of Frauds, the mortgage must be
in writing.
Refer to Fact Pattern 16-2. Under federal law, if 24-Hour Credit fails to provide certain material disclosures with respect to the loan, Benny's right to rescind the loan
is extended for up to three years.
Riverview Bank makes a mortgage loan of $95,000 to Pomeroy to buy a home. Under federal law, if Riverview fails to provide certain material disclosures with respect to the loan, Pomeroy's right to rescind the loan
is extended for up to three years.
In 2012, Online Marketing Corporation registers its trademark as provided by federal law. After the first renewal, this registration
is renewable every ten years.
James buys a copy of the book Downpour. Later, after reading the book, James sells it to his sister. Under the first sale doctrine, James's sale of the book is
legal.
Little Local Bank wrongfully fails to honor a check signed by its customer Andrea. Little Local Bank is
liable to Andrea for damages resulting from its refusal to pay.
Rubin writes a check drawn on his account at Clearwater Bank and payable to the order of Gwyn. The bank does not pay the check. Rubin is
liable to Gwyn for the amount of the check.
Remote Disposal Company operates a hazardous waste storage facility. Concerned that there may be a release of chemicals from the site, Remote sells the property to Serene Developers, Inc. If there is a release, Remote is most likely
liable.
Hubert borrows $100,000 from Integrity Mortgage Mart to buy a home. Soon after obtaining the mortgage, Integrity convinces Hubert to refinance. This is
loan flipping.
Ryan invents a pen that digitally "remembers" what is written or drawn with it. To obtain a patent for the pen, Ryan does not have to show that it is
marketable.
Fried Food, Inc., operates a commercial frying plant, discharging pollutants into the air. Greg reports the violations to the Environmental Protection Agency. Greg
may be paid up to $10,000.
Mary writes a check drawn on County Bank for $400 "payable to Bill" on May 1. Mary dies on May 3. Bill presents the check to County Bank on May 5. County Bank
may pay the check.
Virgil borrows $175,000 from United Finance Bank to buy a home. Federal law regulates primarily
mortgage terms that must be disclosed in writing.
Ron signs an instrument using an "R" with a circle around it. With this mark for a signature, the instrument is
negotiable.
To buy a stuffed cow, Ken executes a check "pay to Laura or bearer" and gives it to Laura, who does not own a stuffed cow. This check is
negotiable.
Violet negotiates with Urban Credit Corporation to obtain a loan for $85,000 to buy a home. During the negotiations, Urban Credit orally misrepresents the terms, but provides the required documents, which accurately state the terms. Violet does not read the documents. The party or parties most likely liable for a violation of the law is
neither party.
Sid rents an apartment from Town Properties, Inc. The lease, which ends on May 31, does not include an option for renewal, and Sid and Town do not discuss whether Sid can stay on at the end of the term. On June 1, Sid has
no right to remain.
Karen writes on a piece of paper, "I owe you $600," signs it, and gives it to Lou. This instrument is
nonnegotiable, because it does not include an express promise to pay.
Jeff's grandmother is the payee of a promissory note for $7,500. Jeff's grandmother gives Jeff the note for his sixteenth birthday. Jeff is
not an HDC, because he received the note as a gift.
Brandy forges Caleb's signature on a check "payable to the order of Brandy" drawn on Caleb's account in Downtown Bank. Caleb's forged signature is
not effective.
Stormclouds Inc. makes and markets its U.S. patented Tempest Tablet in the United States. Squalls Ltd., a Chinese firm, begins making and marketing the same product in China as Outburst Pad without Stormclouds's permission. Squalls is
not guilty of patent infringement.
Refer to Fact Pattern 15-1. If Nina recovers less than she is owed, she can realize the difference from
only nonexempt property that Mary owns.
Gas Up, Inc., designs, makes, and sells a fuel injection system that copies Hybrid Corporation's design without Hybrid's permission. This is most likely
patent infringement.
Sights Unseen, Inc., (SUI) sells telescopes with distinctively designed lenses and mirrors. Later, without SUI's permission,Telescopes Etc. Corporation begins to sell scopes with identical structures of lenses and mirrors. This is most likely
patent infringement.
Wilson buys a promissory note from Oli. The note is due on December 5. December 5 is a Sunday. The note is
payable December 6.
Beth, an accountant for Credits & Debits, acquires a negotiable instrument from Ellen by promising to pay its face value in thirty days. Beth acquires the status of an HDC when she
pays the face value due on the instrument.
Jackson pays Phil in good faith for a promissory note. Phil warrants that the draft has not been altered. This warranty is a
presentment warranty.
Biff signs a note "payable to the order of County Credit Union." Unless Biff has a valid defense against payment, Biff's liability on this note is
primary.
Billy opens a bicycle shop that sells an innovative new kind of bicycle. He decides to call the bicycles "Bicycles." Billy extensively markets his product, has a high sales volume and becomes well known for selling Bicycles. The term Bicycle
receives no protection against trademark infringement.
Darwin borrows $200,000 from Evermore Bank to buy a home. Less than six months into the term, Darwin stops making payments on the loan. To initiate the process to repossess and auction off the property securing the loan, Evermore must
record a notice of default with the appropriate county office.
Harbor Bay Bank has made mortgage loans to consumers that qualify for the Home Affordable Modification Program (HAMP), which offers incentives to lenders to change the terms of certain loans. The purpose of HAMP is to
reduce monthly payments to levels that homeowners can pay.
Hi-Yield Agriculture, Inc., makes a pesticide with a one-in-a-million risk to people of developing cancer from exposure. This substance must be
registered before it is sold.
Rural Electric Company submits a bid to build a dam on federal land as part of a federal project. For this action, an environmental impact statement is most likely
required.
Ski Resorts, Inc., wants to add a new run to its facility in a national park on federal land. For this action, an environmental impact statement is
required.
Entrepreneur Auto Rentals owes Sole Saver Auto Dealership $2,000. Entrepreneur executes a note to Sole Saver as security for the debt. This security
satisfies the value requirement for HDC status.
Muni Investment Company signs a check payable to Enterprise Lenders, Inc., to buy a promissory note executed by Fallow Corporation. This check
satisfies the value requirement for HDC status.
Valley Bank retains the cancelled checks of its customers. Valley must be able to provide customers with legible copies of checks paid for
seven years.
Duran applies to EZ Credit Mortgage Company for $100,000 to buy a home. EZ Credit steers Duran toward an adjustable-rate mortgage even though he qualifies for a fixed-rate mortgage. This is
steering and targeting.
Tracy borrows $30,000 from Secure State Bank. The lender accepts Tracy's equity in her home as collateral, which can be seized if the loan is not repaid on time. With respect to any proceeding that occurs if Tracy fails to make the payments, this loan is subordinated. This means that it
takes a lower priority.
New Apps Company develops "Browser Lite" software,which speeds the display of graphics on Web sites. Browser "Lite" has the most copyright protection under
the Berne Convention.
Lorna borrows $175,000 from Mountainside Credit Union to buy a home. Among the terms that must be disclosed under federal law is the annual percentage rate. This is
the actual cost of the loan on a yearly basis.
Property Management Corporation (PMC) owns several apartment buildings in two states. Regarding standards for maintenance of the buildings, PMC should consult
the applicable city ordinances and state statutes.
Hill & Dale Credit Corporation makes mortgage loans to consumers secured by their principal homes. For a Hill & Dale loan to qualify as a Higher-Priced Mortgage Loan (HPML), its annual percentage rate must exceed, by a certain amount,
the average prime offer rate for a comparable transaction.
Dewey is the payee for a check written by Fred. Cash Credit Corporation (CCC) accepts the check from Dewey as part of a payment. CCC cannot become a HDC if
the check has been outstanding for more than ninety days.
Martha has a checking account with Homeplace Bank. Martha signs a check "payable to Phillipa" drawn on Martha's account. Homeplace Bank is
the drawee.
Rikki signs a check "pay to the order of Scholar University" drawn on Rikki's account in Town Bank to pay her tuition. Rikki is
the drawer.
To obtain a business license, Bess writes a check to a certain state agency. Bess is
the drawer.
Phil owns a farm in South Dakota. He does not like it when planes from the local airport fly over his property. Phil is unlikely to win a case claiming that airplanes flying over his land violate his property rights unless
the flights are low and frequent and cause direct interference with Phil's enjoyment of the land.
Gena borrows $350,000 from Fish Island Bank to buy a home, which secures the mortgage. In the seventh year of the loan, Gena stops making payments. After the bank repossesses the property but before it is sold, Gena may buy it by paying
the full amount of the debt, plus any interest and costs.
Jacob owns five acres of land in northern California. On his land Jacob has a house and a toolshed. There are ten large maple trees around the house that were there when Jacob bought the land. Since buying the land, Jacob has planted an apple tree. Jacob's real property includes
the house, toolshed, maple tress and apple tree.
Riley invents a new valve to cap undersea oil spills. He names the valve "Great Catch." He also writes the installation manual to be included with each valve. Riley can obtain copyright protection for
the installation manual.
Efron transfers an instrument to First Citizens Bank. This is not a negotiation unless
the instrument is a negotiable instrument.
The operations of Metal Refining Industries, Inc., are major sources of air pollution. These operations must use
the maximum achievable control technology.
Paula develops a new espresso machine that she names "Sure Shot." She also writes an operating manual for the machine. Paula can obtain trademark protection for
the name "Sure Shot."
Albert buys a surround sound system from his neighbor George at George's garage sale. Albert writes George a check for $250 for the sound system. George is
the payee.
Seymour borrows $350,000 from Reliable Bank to buy a home. Seymour stops making payments on the loan ten months later. After the bank repossesses the property securing the loan but before it is sold, Seymour wants to buy it. This is
the right of redemption.
Jay files a bankruptcy petition under Chapter 7. Among his debts are unpaid taxes, fines owed to the government, student loans owed to Mega University, and support owed to his ex-wife Kris. Most likely to be discharged are
the student loans if their payment would impose undue hardship.
Ric designs a new tablet computerthat he names "Sci Phi." He also writes the operating manual to be included with each final product. Ric can obtain patent protection for
the tablet computer.
Bakri owns a house. In the house, on a tile floor is a throw rug. Most likely to meet the definition of a fixture is
the tile floor.
Zeke files a petition for bankruptcy under Chapter 13. Zeke's Chapter 13 plan must provide for
the turnover of his future income to the trustee.
Trademarks are protected from use on noncompeting goods by
theFederal Trademark Dilution Act.
Lucky owns Mud Flats Ranch, which is situated on certain Nevada acreage. The exterior boundaries of the land extend
to the center of the earth and up to the farthest reaches of the atmosphere.
Trevor's operates The Spicy Chocolatier Café chain of restaurants. "The Spicy Chocolatier Café" is a
trade name.
The idea for "On Your Mark," a computer game featuring world-class athletic competition in extreme and unique contests, is protected by
trade secrets law.
Beans Coffee & Cocoa Company makes and sells a chocolate-flavored coffee drink under the name "CoCoCafe." Darkroast Java, Inc., later markets a similar drink under the name "KoKoKafe." This is most likely
trademark infringement.
E-Shopping Corporation inserts Fiesta Mall, Inc.'s trademark as a meta tag in E-Shopping's Web site's key-words field without Fiesta's permission in a manner that suggests Fiesta authorized the use. This is
trademark infringement.
NuTown Construction, Inc., wants to build a parking ramp to connect to its NuTown Mall, both of which are on private land. For this action, an environmental impact statement is
unnecessary.
Property Financial Corporation makes loans that qualify, under a Federal Reserve Board amendment to Regulation Z, as Higher-Priced Mortgage Loans (HPMLs). Quinn applies to Property Financial for an HPML. To make the loan, the lender must
verify the borrower's ability to repay the loan.
Michael contracts with Jill to fix the brakes on her Honda Civic. Jill leaves her car with Michael, but refuses to pay when the work is done. Michael refuses to return the car until she pays. Michael's lien on Jill's car will end
when Michael voluntarily surrenders possession of the car.