Business Law Principles for Today’s Commercial Environment 2nd Edition by David Twomey, Marianne M. Jennings – Ebook PDF Instant Download/Delivery: 9780324303940, 0324303947
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Product details:
• ISBN 10:0324303947
• ISBN 13:9780324303940
• Author:David Twomey, Marianne M. Jennings
Not only helping you to ace your business law course, BUSINESS LAW: PRINCIPLES FOR TODAY’S COMMERCIAL ENVIRONMENT, Second Edition, also provides the information and resources to assist you in studying for the CPA exam. Based on the #1 business law summarized case text on the market today, this excerpted case version helps you grasp key legal concepts and principles, reinforcing your understanding with applications and examples of real-world dilemmas, issues, and problems. Current, comprehensive, easy-to-understand and fascinating to read, BUSINESS LAW will help you prepare you for every class lecture and gives you all the resources you need to do your best on exams.
Business Law Principles for Today’s Commercial Environment 2nd Table of contents:
Part 1. The Legal and Social Environment of Business
Chapter 1. The Nature and Sources of Law
1-1. Nature of Law and Legal Rights
1-1a. Legal Rights
1-1b. Individual Rights
1-1c. The Right of Privacy
1-1d. Privacy and Technology
1-2. Sources of Law
1-2a. Constitutional Law
1-2b. Statutory Law
1-2c. Administrative Law
1-2d. Private Law
1-2e. Case Law, Statutory Interpretation, and Precedent
1-2f. Other Forms of Law: Treaties and Executive Orders
1-2g. Uniform State Laws
1-3. Classifications of Law
1-3a. Substantive Law vs. Procedural Law
1-3b. Criminal Law vs. Civil Law
1-3c. Law vs. Equity
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 2. The Court System and Dispute Resolution
2-1. The Court System
2-1a. The Types of Courts
2-1b. The Federal Court System
2-1c. State Court Systems
2-2. Court Procedure
2-2a. Participants in the Court System
2-2b. Which Law Applies—Conflicts of Law
2-2c. Initial Steps in a Lawsuit
2-2d. The Trial
2-2e. Post-Trial Procedures
2-3. Alternative Dispute Resolution (ADR)
2-3a. Arbitration
2-3b. Mediation
2-3c. MedArb
2-3d. Expert Panel
2-3e. Reference to a Third Person
2-3f. Association Tribunals
2-3g. Summary Jury Trial
2-3h. Rent-A-Judge
2-3i. Minitrial
2-3j. Contract Provisions
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 3. Business Ethics, Social Forces, and the Law
3-1. What Is Business Ethics?
3-1a. The Law as the Standard for Business Ethics
3-1b. The Notion of Universal Standards for Business Ethics
3-1c. Ethical Theories and Standards
3-1d. The Business Stakeholder Standard of Behavior
3-2. Why Is Business Ethics Important?
3-2a. The Importance of Trust
3-2b. Business Ethics and Financial Performance
3-2c. The Importance of a Good Reputation
3-2d. Business Ethics and Business Regulation: Public Policy, Law, and Ethics
3-3. How to Recognize and Resolve Ethical Dilemmas
3-3a. Categories of Ethical Behavior
3-3b. Resolving Ethical Dilemmas
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 4. The Constitution as the Foundation of the Legal Environment
4-1. The U.S. Constitution and the Federal System
4-1a. What a Constitution Is
4-1b. The Branches of Government
4-2. The U.S. Constitution and the States
4-2a. Delegated and Shared Powers
4-2b. Other Powers
4-2c. Federal Supremacy
4-3. Interpreting and Amending the Constitution
4-3a. Conflicting Theories
4-3b. Amending the Constitution
4-3c. The Living Constitution
4-4. Federal Powers
4-4a. The Power to Regulate Commerce
4-4b. The Financial Powers
4-5. Constitutional Limitations on Government
4-5a. Due Process
4-5b. Equal Protection of the Law
4-5c. Privileges and Immunities
4-5d. Protection of the Person
4-5e. The Bill of Rights and Businesses as Persons
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 5. Government Regulation of Competition and Prices
5-1. Power to Regulate Business
5-1a. Regulation, Free Enterprise, and Deregulation
5-1b. Regulation of Unfair Competition
5-2. Regulation of Horizontal Markets and Competitors
5-2a. Regulation of Prices
5-2b. Monopolization
5-2c. Boycotts and Refusals to Deal
5-2d. Mergers among Competitors
5-3. Regulation of the Supply Chain and Vertical Trade Restraints
5-3a. Price Discrimination
5-3b. Exclusive Dealings and Territories
5-3c. Resale Price Maintenance
5-3d. Tying
5-3e. Mergers along the Supply Chain
5-4. Remedies for Anticompetitive Behavior
5-4a. Criminal Penalties
5-4b. Civil Remedies
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 6. Administrative Agencies
6-1. Nature of the Administrative Agency
6-1a. Purpose of Administrative Agencies
6-1b. Uniqueness of Administrative Agencies
6-1c. Open Operation of Administrative Agencies
6-2. Legislative Power of the Agency
6-2a. Agency’s Regulations as Law
6-2b. Agency Adoption of Regulations
6-3. Executive Power of the Agency
6-3a. Enforcement or Execution of the Law
6-3b. Constitutional Limitations on Administrative Investigation
6-4. Judicial Power of the Agency
6-4a. The Agency as a Specialized Court
6-4b. Punishment and Enforcement Powers of Agencies
6-4c. Exhaustion of Administrative Remedies
6-4d. Appeal from an Administrative Agency Action
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 7. Crimes
7-1. General Principles
7-1a. Nature and Classification of Crimes
7-1b. Basis of Criminal Liability
7-1c. Responsibility for Criminal Acts
7-1d. Indemnification of Crime Victims
7-2. White-Collar Crimes
7-2a. Conspiracies
7-2b. Money Laundering
7-2c. Racketeering
7-2d. Bribery
7-2e. Commercial Bribery
7-2f. Extortion and Blackmail
7-2g. Corrupt Influence
7-2h. Counterfeiting
7-2i. Forgery
7-2j. Perjury
7-2k. False Claims and Pretenses
7-2l. Bad Checks
7-2m. Credit Card Crimes
7-2n. Embezzlement
7-2o. Obstruction of Justice: Sarbanes-Oxley (SOX)
7-2p. Corporate Fraud: SOX
7-2q. The Common Law Crimes
7-3. Criminal Law and the Computer
7-3a. What Is a Computer Crime?
7-3b. The Computer as Victim
7-3c. Unauthorized Use of Computers
7-3d. Computer Raiding
7-3e. Diverted Delivery by Computer
7-3f. Economic Espionage by Computer
7-3g. Electronic Fund Transfer Crimes
7-3h. Circumventing Copyright Protection Devices via Computer
7-3i. Spamming
7-4. Criminal Procedure Rights for Businesses
7-4a. Fourth Amendment Rights for Businesses
7-4b. Fifth Amendment Self-Incrimination Rights for Businesses
7-4c. Due Process Rights for Businesses
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 8. Torts
8-1. General Principles
8-1a. What Is a Tort?
8-1b. Tort and Crime Distinguished
8-1c. Types of Torts
8-2. Intentional Torts
8-2a. Assault
8-2b. Battery
8-2c. False Imprisonment
8-2d. Intentional Infliction of Emotional Distress
8-2e. Invasion of Privacy
8-2f. Defamation
8-2g. Product Disparagement
8-2h. Wrongful Interference with Contracts
8-2i. Trespass
8-3. Negligence
8-3a. Elements of Negligence
8-3b. Defenses to Negligence
8-4. Strict Liability
8-4a. What Is Strict Liability?
8-4b. Imposing Strict Liability
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 9. Intellectual Property Rights and the Internet
9-1. Trademarks and Service Marks
9-1a. Introduction
9-1b. International Registration
9-1c. Registrable Marks
9-1d. Proving Trademark Infringement
9-1e. Remedies for Improper Use of Marks
9-1f. Abandonment of Exclusive Right to Mark
9-1g. Trade Dress Protection
9-1h. Limited Lanham Act Protection of Product Design
9-1i. Prevention of Dilution of Famous Marks
9-1j. Internet Domain Names and Trademark Rights
9-2. Copyrights
9-2a. Duration of Copyright
9-2b. Copyright Notice
9-2c. What Is Copyrightable?
9-2d. Copyright Ownership and the Internet
9-2e. Rights of Copyright Holders
9-2f. Limitation on Exclusive Character of Copyright
9-2g. Secondary Liability for Infringement
9-2h. Digital Millennium Copyright Act
9-3. Patents
9-3a. Types, Duration, and Notice
9-3b. Patentability
9-3c. Patentable Business Methods
9-3d. Infringement
9-4. Secret Business Information
9-4a. Trade Secrets
9-4b. Loss of Protection
9-4c. Defensive Measures
9-4d. Criminal Sanctions
9-5. Protection of Computer Software and Mask Works
9-5a. Copyright Protection of Computer Programs
9-5b. Patent Protection of Programs
9-5c. Trade Secrets
9-5d. Restrictive Licensing
9-5e. Semiconductor Chip Protection
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 10. The Legal Environment of International Trade
10-1. Conducting Business Internationally
10-1a. Forms of International Business
10-1b. The International Contract
10-2. International Trade
10-2a. Tariffs and Barriers to Trade
10-2b. The World Trade Organization
10-2c. Agreements Administered under the WTO
10-2d. Protecting Trademarks Worldwide
10-2e. Copyright Protection
10-2f. Patent Protection
10-2g. Trade Secrets
10-2h. The Dispute Settlement Understanding
10-2i. The Doha Development Agenda
10-2j. Regional Trade Agreements
10-2k. Antidumping, Subsidies and Safeguards
10-3. Issues Confronting Companies Engaged in International Business
10-3a. Export Regulations
10-3b. The Foreign Corrupt Practices Act
10-3c. Antitrust Issues
10-3d. Securities Fraud Regulation in an International Environment
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Part 2. Contracts
Chapter 11. Nature and Classes of Contracts: Contracting on the Internet
11-1. Nature of Contracts
11-1a. Definition of a Contract
11-1b. Elements of a Contract
11-1c. Subject Matter of Contracts
11-1d. Parties to a Contract
11-1e. How a Contract Arises
11-1f. Intent to Make a Binding Agreement
11-1g. Freedom of Contract
11-2. Classes of Contracts
11-2a. Formal and Informal Contracts
11-2b. Express and Implied Contracts
11-2c. Valid and Voidable Contracts and Void Agreements
11-2d. Executed and Executory Contracts
11-2e. Bilateral and Unilateral Contracts
11-2f. Quasi Contracts
11-3. Contracting on the Internet
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 12. Formation of Contracts: Offer and Acceptance
12-1. Requirements of an Offer
12-1a. Contractual Intention
12-1b. Definiteness
12-1c. Communication of Offer to Offeree
12-2. Termination of Offer
12-2a. Revocation of Offer by Offeror
12-2b. Counteroffer by Offeree
12-2c. Rejection of Offer by Offeree
12-2d. Lapse of Time
12-2e. Death or Disability of either Party
12-2f. Subsequent Illegality
12-3. Acceptance of Offer
12-3a. What Constitutes an Acceptance?
12-3b. Privilege of Offeree
12-3c. Effect of Acceptance
12-3d. Nature of Acceptance
12-3e. Who May Accept?
12-3f. Manner and Time of Acceptance
12-3g. Communication of Acceptance
12-3h. Auction Sales
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 13. Capacity and Genuine Assent
13-1. Contractual Capacity
13-1a. Contractual Capacity Defined
13-1b. Minors
13-1c. Mentally Incompetent Persons
13-1d. Intoxicated Persons
13-2. Mistake
13-2a. Unilateral Mistake
13-2b. Mutual Mistake
13-2c. Mistake in the Transcription or Printing of the Contract: Reformation
13-3. Deception
13-3a. Intentional Misrepresentation
13-3b. Fraud
13-3c. Negligent Misrepresentation
13-3d. Nondisclosure
13-4. Pressure
13-4a. Undue Influence
13-4b. Duress
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 14. Consideration
14-1. General Principles
14-1a. Consideration Defined and Explained
14-1b. Gifts
14-1c. Adequacy of Consideration
14-1d. Forbearance as Consideration
14-1e. Illusory Promises
14-2. Special Situations
14-2a. Preexisting Legal Obligation
14-2b. Past Consideration
14-2c. Moral Obligation
14-3. Exceptions to the Laws of Consideration
14-3a. Exceptions to Consideration
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 15. Legality and Public Policy
15-1. General Principles
15-1a. Effect of Illegality
15-1b. Exceptions to Effect of Illegality
15-1c. Partial Illegality
15-1d. Crimes and Civil Wrongs
15-1e. Good Faith and Fairness
15-1f. Unconscionable Clauses
15-2. Agreements Affecting Public Welfare
15-2a. Agreements Contrary to Public Policy
15-2b. Gambling, Wagers, and Lotteries
15-3. Regulation of Business
15-3a. Effect of Violation
15-3b. Statutory Regulation of Contracts
15-3c. Licensed Callings or Dealings
15-3d. Contracts in Restraint of Trade
15-3e. Agreements Not to Compete
15-3f. Usurious Agreements
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 16. Writing, Electronic Forms, and Interpretation of Contracts
16-1. Statute of Frauds
16-1a. Validity of Oral Contracts
16-1b. Contracts that Must Be Evidenced by a Writing
16-1c. Note or Memorandum
16-1d. Effect of Noncompliance
16-2. Parol Evidence Rule
16-2a. Exclusion of Parol Evidence
16-2b. When the Parol Evidence Rule Does Not Apply
16-3. Rules of Construction and Interpretation
16-3a. Intention of the Parties
16-3b. Whole Contract
16-3c. Contradictory and Ambiguous Terms
16-3d. Implied Terms
16-3e. Conduct and Custom
16-3f. Avoidance of Hardship
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 17. Third Persons and Contracts
17-1. Third-Party Beneficiary Contracts
17-1a. Definition
17-1b. Modification or Termination of Intended Third-Party Beneficiary Contract
17-1c. Limitations on Intended Third-Party Beneficiary
17-1d. Incidental Beneficiaries
17-2. Assignments
17-2a. Definitions
17-2b. Form of Assignment
17-2c. Notice of Assignment
17-2d. Assignment of Right to Money
17-2e. Nonassignable Rights
17-2f. Rights of Assignee
17-2g. Continuing Liability of Assignor
17-2h. Liability of Assignee
17-2i. Warranties of Assignor
17-2j. Delegation of Duties
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 18. Discharge of Contracts
18-1. Conditions Relating to Performance
18-1a. Classifications of Conditions
18-2. Discharge by Performance
18-2a. Normal Discharge of Contracts
18-2b. Nature of Performance
18-2c. Time of Performance
18-2d. Adequacy of Performance
18-3. Discharge by Action of Parties
18-3a. Discharge by Unilateral Action
18-3b. Discharge by Agreement
18-4. Discharge by External Causes
18-4a. Discharge by Impossibility
18-4b. Developing Doctrines
18-4c. Temporary Impossibility
18-4d. Discharge by Operation of Law
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 19. Breach of Contract and Remedies
19-1. What Constitutes a Breach of Contract?
19-1a. Definition of Breach
19-1b. Anticipatory Breach
19-2. Waiver of Breach
19-2a. Cure of Breach by Waiver
19-2b. Existence and Scope of Waiver
19-2c. Reservation of Rights
19-3. Remedies for Breach of Contract
19-3a. Remedies upon Anticipatory Repudiation
19-3b. Remedies in General and the Measure of Damages
19-3c. Monetary Damages
19-3d. Rescission
19-3e. Action for Specific Performance
19-3f. Action for an Injunction
19-3g. Reformation of Contract by a Court
19-4. Contract Provisions Affecting Remedies and Damages
19-4a. Limitation of Remedies
19-4b. Liquidated Damages
19-4c. Attorneys’ Fees
19-4d. Limitation of Liability Clauses
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Part 3. Sales and Leases of Goods
Chapter 20. Personal Property and Bailments
20-1. Personal Property
20-1a. Personal Property in Context
20-1b. Title to Personal Property
20-1c. Gifts
20-1d. Finding of Lost Property
20-1e. Occupation of Personal Property
20-1f. Escheat
20-1g. Multiple Ownership of Personal Property
20-1h. Community Property
20-2. Bailments
20-2a. Definition
20-2b. Elements of Bailment
20-2c. Nature of the Parties’ Interests
20-2d. Classification of Ordinary Bailments
20-2e. Renting of Space Distinguished
20-2f. Duties and Rights of the Bailee
20-2g. Breach of Duty of Care: Burden of Proof
20-2h. Liability for Defects in Bailed Property
20-2i. Contract Modification of Liability
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 21. Legal Aspects of Supply Chain Management
21-1. Warehouses
21-1a. Definitions
21-1b. Rights and Duties of Warehouses
21-1c. Warehouse Receipts
21-1d. Rights of Holders of Warehouse Receipts
21-1e. Field Warehousing
21-1f. Limitation of Liability of Warehouses
21-2. Common Carriers
21-2a. Definitions
21-2b. Bills of Lading
21-2c. Rights of Common Carrier
21-2d. Duties of Common Carrier
21-2e. Liabilities of Common Carrier
21-3. Factors and Consignments
21-3a. Definitions
21-3b. Effect of Factor Transaction
21-4. Hotelkeepers
21-4a. Definitions
21-4b. Duration of Guest Relationship
21-4c. Hotelkeeper’s Liability for Guest’s Property
21-4d. Hotelkeeper’s Lien
21-4e. Boarders or Lodgers
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 22. Nature and Form of Sales
22-1. Nature of the Sale of Goods
22-1a. Subject Matter of Sales
22-1b. Sale Distinguished from Other Transactions
22-1c. Formation of Sales Contracts
22-1d. Terms in the Formed Contract
22-1e. Bulk Transfers
22-2. Form of Sales Contract
22-2a. Amount
22-2b. Nature of the Writing Required
22-2c. Effect of Noncompliance
22-2d. Exceptions to Requirement of a Writing
22-2e. Bill of Sale
22-3. Uniform Law for International Sales
22-3a. Scope of the CISG
22-4. Leases of Goods
22-4a. Types of Leases
22-4b. Form of Lease Contract
22-4c. Warranties
22-4d. Default
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 23. Title and Risk of Loss
23-1. Identifying Types of Potential Problems and Transactions
23-1a. Damage to Goods
23-1b. Creditors’ Claims
23-1c. Insurance
23-2. Determining Rights: Identification of Goods
23-2a. Existing Goods
23-2b. Future Goods
23-2c. Fungible Goods
23-2d. Effect of Identification
23-3. Determining Rights: Passage of Title
23-3a. Passage of Title Using Documents of Title
23-3b. Passage of Title in Nonshipment Contracts
23-3c. Passage of Title in Warehouse Arrangements
23-3d. Passage of Title in Bailments and Other Forms of Possession
23-3e. Delivery and Shipment Terms
23-3f. Passage of Title in Shipment Contracts
23-4. Determining Rights: Risk of Loss
23-4a. Risk of Loss in Nonshipment Contracts
23-4b. Risk of Loss in Shipment Contracts
23-4c. Damage to or Destruction of Goods
23-4d. Effect of Seller’s Breach in Risk of Loss
23-5. Determining Rights: Special Situations
23-5a. Returnable Goods Transactions
23-5b. Consignments and Factors
23-5c. Self-Service Stores
23-5d. Auction Sales
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 24. Product Liability: Warranties and Torts
24-1. General Principles
24-1a. Theories of Liability
24-1b. Nature of Harm
24-1c. Who Is Liable in Product Liability
24-2. Express Warranties
24-2a. Definition of Express Warranty
24-2b. Form of Express Warranty
24-2c. Seller’s Opinion or Statement of Value
24-2d. Warranty of Conformity to Description, Sample, or Model
24-2e. Federal Regulation of Express Warranties
24-2f. Effect of Breach of Express Warranty
24-3. Implied Warranties
24-3a. Definition of Implied Warranty
24-3b. Implied Warranties of Sellers
24-3c. Additional Implied Warranties of Merchant Sellers
24-3d. Implied Warranties in Particular Sales
24-3e. Necessity of Defect
24-3f. Warranties in the International Sale of Goods
24-4. Disclaimer of Warranties
24-4a. Validity of Disclaimer
24-4b. Particular Language for Disclaimers
24-4c. Exclusion of Warranties by Examination of Goods
24-4d. Postsale Disclaimer
24-5. Other Theories of Product Liability
24-5a. Negligence
24-5b. Fraud
24-5c. Strict Tort Liability
24-5d. Cumulative Theories of Liability
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 25. Obligations and Performance
25-1. General Principles
25-1a. Obligation of Good Faith
25-1b. Time Requirements of Obligations
25-1c. Repudiation of the Contract
25-1d. Adequate Assurance of Performance
Form of Assurance
25-2. Duties of the Parties
25-2a. Seller’s Duty to Deliver
25-2b. Buyer’s Duty upon Receipt of Goods
25-2c. Buyer’s Duty to Accept Goods
25-2d. Buyer’s Duty to Pay
25-2e. When Duties Are Excused
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 26. Remedies for Breach of Sales Contracts
26-1. Statute of Limitations
26-1a. Time Limits for Suits under the UCC
26-1b. Time Limits for Other Suits
26-2. Remedies of the Seller
26-2a. Seller’s Lien
26-2b. Seller’s Remedy of Stopping Shipment
26-2c. Resale by Seller
26-2d. Cancellation by Seller
26-2e. Seller’s Action for Damages under the Market Price Formula
26-2f. Seller’s Action for Lost Profits
26-2g. Other Types of Damages
26-2h. Seller’s Action for the Purchase Price
26-2i. Seller’s Nonsale Remedies
26-3. Remedies of the Buyer
26-3a. Rejection of Improper Tender
26-3b. Revocation of Acceptance
26-3c. Buyer’s Action for Damages for Nondelivery—Market Price Recovery
26-3d. Buyer’s Action for Damages for Nondelivery—Cover Price Recovery
26-3e. Other Types of Damages
26-3f. Action for Breach of Warranty
26-3g. Cancellation by Buyer
26-3h. Buyer’s Resale of Goods
26-3i. Action for Specific Performance
26-3j. Nonsale Remedies of the Buyer
26-4. Contract Provisions on Remedies
26-4a. Limitation of Damages
26-4b. Limitation of Remedies
26-5. Remedies in the International Sale of Goods
26-5a. Remedies of the Seller
26-5b. Remedies of the Buyer
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Part 4. Negotiable Instruments
Chapter 27. Kinds of Instruments, Parties, and Negotiability
27-1. Types of Negotiable Instruments and Parties
27-1a. Definition
27-1b. Kinds of Instruments
27-1c. Parties to Instruments
27-2. Negotiability
27-2a. Definition of Negotiability
27-2b. Requirements of Negotiability
27-2c. Factors Not Affecting Negotiability
27-2d. Ambiguous Language
27-2e. Statute of Limitations
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 28. Transfers of Negotiable Instruments and Warranties of Parties
28-1. Transfer of Negotiable Instruments
28-1a. Effect of Transfer
28-1b. Definition of Negotiation
28-1c. How Negotiation Occurs: The Order or Bearer Character of an Instrument
28-2. How Negotiation Occurs: Bearer Instruments
28-3. How Negotiation Occurs: Order Instruments
28-3a. Blank Indorsement
28-3b. Special Indorsement
28-3c. Qualified Indorsement
28-3d. Restrictive Indorsement
28-3e. Correction of Name by Indorsement
28-3f. Bank Indorsement
28-3g. Multiple Payees and Indorsements
28-3h. Agent or Officer Indorsement
28-3i. Missing Indorsement
28-4. Problems in Negotiation of Instruments
28-4a. Forged and Unauthorized Indorsements
28-4b. Quasi Forgeries: The Impostor Rule
28-4c. Effect of Incapacity or Misconduct on Negotiation
28-4d. Lost Instruments
28-5. Warranties in Negotiation
28-5a. Warranties of Unqualified Indorser
28-5b. Warranties of Other Parties
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 29. Liability of the Parties under Negotiable Instruments
29-1. Parties to Negotiable Instruments: Rights and Liabilities
29-1a. Types of Parties
29-1b. Ordinary Holders and Assignees
29-1c. The Holder-in-Due-Course Protections
29-2. Defenses to Payment of a Negotiable Instrument
29-2a. Classification of Defenses
29-2b. Defenses against Assignee or Ordinary Holder
29-2c. Limited Defenses Not Available against a Holder in Due Course
29-2d. Universal Defenses Available against All Holders
29-2e. Denial of Holder-in-Due-Course Protection
29-3. Liability Issues: How Payment Rights Arise and Defenses Are Used
29-3a. The Roles of Parties and Liability
29-3b. Attaching Liability of the Primary Parties: Presentment
29-3c. Dishonor and Notice of Dishonor
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 30. Checks and Funds Transfers
30-1. Checks
30-1a. Nature of a Check
30-1b. Certified Checks
30-1c. Presentment for Obtaining Payment on a Check
30-1d. Dishonor of a Check
30-1e. The Customer-Bank Relationship
30-1f. Stopping Payment of a Check
30-1g. Wrongful Dishonor of a Check
30-1h. Agency Status of Collecting Bank
30-1i. Bank’s Duty of Care
30-2. Liability of a Bank
30-2a. Premature Payment of a Postdated Check
30-2b. Payment over a Stop Payment Order
30-2c. Payment on a Forged Signature of Drawer
30-2d. Payment on a Forged or Missing Indorsement
30-2e. Alteration of a Check
30-2f. Unauthorized Collection of a Check
30-2g. Time Limitations
30-3. Consumer Funds Transfers
30-3a. Electronic Funds Transfer Act
30-3b. Types of Electronic Funds Transfer Systems
30-3c. Consumer Liability
30-4. Funds Transfers
30-4a. What Law Governs?
30-4b. Characteristics of Funds Transfers
30-4c. Pattern of Funds Transfers
30-4d. Scope of UCC Article 4A
30-4e. Definitions
30-4f. Manner of Transmitting Payment Order
30-4g. Regulation by Agreement and Funds Transfer System Rules
30-4h. Reimbursement of the Bank
30-4i. Error in Funds Transfer
30-4j. Liability for Loss
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Part 5. Debtor-Creditor Relationships
Chapter 31. Nature of the Debtor-Creditor Relationship
31-1. Creation of the Credit Relationship
31-2. Suretyship and Guaranty
31-2a. Definitions
31-2b. Indemnity Contract Distinguished
31-2c. Creation of the Relationship
31-2d. Rights of Sureties
31-2e. Defenses of Sureties
31-3. Letters of Credit
31-3a. Definition
31-3b. Parties
31-3c. Duration
31-3d. Form
31-3e. Duty of Issuer
31-3f. Reimbursement of Issuer
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 32. Consumer Protection
32-1. General Principles
32-1a. Expansion of Consumer Protection
32-1b. Who Is a Consumer?
32-1c. Who Is Liable under Consumer Protection Statutes?
32-1d. When Is There Liability under Consumer Protection Statutes?
32-1e. What Remedies Do Consumers Have?
32-1f. What Are the Civil and Criminal Penalties under Consumer Protection Statutes?
32-2. Areas of Consumer Protection
32-2a. Advertising
32-2b. Labeling
32-2c. Selling Methods
32-2d. The Consumer Contract
32-2e. Credit Disclosures
32-2f. Credit Cards
32-2g. Gift Cards
32-2h. Payments
32-2i. Preservation of Consumer Defenses
32-2j. Product Safety
32-2k. Credit, Collection, and Billing Methods
32-2l. Protection of Credit Standing and Reputation
32-2m. Other Consumer Protections
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 33. Secured Transactions in Personal Property
33-1. Creation of Secured Transactions
33-1a. Definitions
33-1b. Creation of a Security Interest
33-1c. Purchase Money Security Interest
33-1d. The Nature and Classification of Collateral
33-2. Perfection of Secured Transactions
33-2a. Perfection by Creditor’s Possession
33-2b. Perfection for Consumer Goods
33-2c. Perfection for Health Care Insurance Receivables
33-2d. Automatic Perfection
33-2e. Temporary Perfection
33-2f. Perfection by Control
33-2g. Perfection for Motor Vehicles
33-2h. Perfection by Filing a Financing Statement
33-2i. Loss of Perfection
33-3. Rights of Parties before Default
33-3a. Statement of Account
33-3b. Termination Statements
33-3c. Correction Statements
33-4. Priorities
33-4a. Unsecured Party versus Unsecured Party
33-4b. Secured Party versus Unsecured Party
33-4c. Secured Party versus Secured Party
33-4d. Perfected Secured Party versus Secured Party
33-4e. Perfected Secured Party versus Perfected Secured Party
33-4f. Secured Party versus Buyer of Collateral from Debtor
33-5. Rights of Parties after Default
33-5a. Creditor’s Possession and Disposition of Collateral
33-5b. Creditor’s Retention of Collateral
33-5c. Debtor’s Right of Redemption
33-5d. Disposition of Collateral
33-5e. Postdisposition Accounting
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 34. Bankruptcy
34-1. Bankruptcy Law
34-1a. The Federal Law
34-1b. Types of Bankruptcy Proceedings
34-2. How Bankruptcy Is Declared
34-2a. Declaration of Voluntary Bankruptcy
34-2b. Declaration of Involuntary Bankruptcy
34-2c. Automatic Stay
34-2d. If the Creditors Are Wrong: Rights of Debtor in an Involuntary Bankruptcy
34-3. Administration of the Bankruptcy Estate
34-3a. The Order of Relief
34-3b. List of Creditors
34-3c. Trustee in Bankruptcy
34-3d. The Bankrupt’s Estate
34-3e. Voidable Preferences
34-3f. Proof of Claim
34-3g. Priority of Claims
34-4. Debtor’s Duties and Exemptions
34-4a. Debtor’s Duties
34-4b. Debtor’s Exemptions
34-4c. Debtor’s Protection against Discrimination
34-5. Discharge in Bankruptcy
34-5a. Denial of Discharge
34-6. Reorganization Plans under Chapter 11
34-6a. Contents of the Plan
34-6b. Confirmation of the Plan
34-7. Payment Plans under Chapter 13
34-7a. Contents of the Plan
34-7b. Confirmation of the Plan
34-7c. Discharge of the Debtor
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 35. Insurance
35-1. The Insurance Contract
35-1a. The Parties
35-1b. Insurable Interest
35-1c. The Contract
35-1d. Antilapse and Cancellation Statutes and Provisions
35-1e. Modification of Contract
35-1f. Interpretation of Contract
35-1g. Burden of Proof
35-1h. Insurer Bad Faith
35-1i. Time Limitations on Insured
35-1j. Subrogation of Insurer
35-2. Kinds of Insurance
35-2a. Business Liability Insurance
35-2b. Marine Insurance
35-2c. Fire and Homeowners Insurance
35-2d. Automobile Insurance
35-2e. Life Insurance
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Part 6. Agency and Employment
Chapter 36. Agency
36-1. Nature of the Agency Relationship
36-1a. Definitions and Distinctions
36-1b. Classification of Agents
36-1c. Agency Coupled with an Interest
36-2. Creating the Agency
36-2a. Authorization by Appointment
36-2b. Authorization by Conduct
36-2c. Agency by Ratification
36-2d. Proving the Agency Relationship
36-3. Agent’s Authority
36-3a. Scope of Agent’s Authority
36-3b. Effect of Proper Exercise of Authority
36-3c. Duty to Ascertain Extent of Agent’s Authority
36-3d. Limitations on Agent’s Authority
36-4. Duties and Liabilities of Principal and Agent
36-4a. Duties and Liabilities of Agent during Agency
36-4b. Duties and Liabilities of Agent after Termination of Agency
36-4c. Duties and Liabilities of Principal to Agent
36-5. Termination of Agency
36-5a. Termination by Act of Parties
36-5b. Termination by Operation of Law
36-5c. Disability of the Principal under the UDPAA
36-5d. Termination of Agency Coupled with an Interest
36-5e. Protection of Agent from Termination of Authority
36-5f. Effect of Termination of Authority
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 37. Third Persons in Agency
37-1. Liability of Agent to Third Person
37-1a. Action of Authorized Agent of Disclosed Principal
37-1b. Unauthorized Action
37-1c. Disclosure of Principal
37-1d. Assumption of Liability
37-1e. Execution of Contract
37-1f. Torts and Crimes
37-2. Liability of Principal to Third Person
37-2a. Agent’s Contracts
37-2b. Payment to Agent
37-2c. Agent’s Statements
37-2d. Agent’s Knowledge
37-3. Liability of Principal for Torts and Crimes of Agent
37-3a. Vicarious Liability for Torts and Crimes
37-3b. Negligent Hiring and Retention of Employees
37-3c. Negligent Supervision and Training
37-3d. Agent’s Crimes
37-3e. Owner’s Liability for Acts of an Independent Contractor
37-3f. Enforcement of Claim by Third Person
37-4. Transactions with Sales Personnel
37-4a. Soliciting and Contracting Agents
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 38. Regulation of Employment
38-1. The Employment Relationship
38-1a. Characteristics of Relationship
38-1b. Creation of Employment Relationship
38-1c. Duration and Termination of Employment Contract
38-1d. Whistleblower Protection under the Sarbanes-Oxley and Dodd-Frank Acts
38-1e. Duties of the Employee
38-1f. Rights of the Employee
38-2. Labor Relations Laws
38-2a. The National Labor Relations Act
38-2b. National Labor Relations Board
38-2c. Election Conduct
38-2d. Union Activity on Private Property
38-2e. Social Media and Section 7: Protected Activity for Union and Nonunion Workers
38-2f. Firing Employees for Union Activity
38-2g. Duty of Employer to Bargain Collectively
38-2h. Right to Work
38-2i. Strike and Picketing Activity
38-2j. Regulation of Internal Union Affairs
38-3. Pension Plans and Federal Regulation
38-3a. ERISA
38-4. Unemployment Benefits, Family Leaves, and Social Security
38-4a. Unemployment Compensation
38-4b. Family and Medical Leaves of Absence
38-4c. Leaves for Military Service under USERRA
38-4d. Social Security
38-5. Employees’ Health and Safety
38-5a. Standards
38-5b. Employer Duties
38-5c. Enforcement
38-5d. State “Right-to-Know” Legislation
38-6. Compensation for Employees’ Injuries
38-6a. Common Law Status of Employer
38-6b. Statutory Changes
38-7. Employee Privacy
38-7a. Source of Privacy Rights
38-7b. Monitoring Employee Telephone Conversations
38-7c. E-Mail Monitoring
38-7d. Property Searches
38-7e. Drug and Alcohol Testing
38-8. Employment-Related Immigration Laws
38-8a. Employer Liability
38-8b. Employer Verification
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Chapter 39. Equal Employment Opportunity Law
39-1. Title VII of the Civil Rights Act of 1964, as Amended
39-1a. Theories of Discrimination
39-1b. The Equal Employment Opportunity Commission
39-1c. Definition of “Supervisor”
39-2. Protected Classes and Exceptions
39-2a. Race and Color
39-2b. Religion
39-2c. Sex
39-2d. Sexual Harassment
39-2e. Protection against Retaliation
39-2f. National Origin
39-2g. Title VII Exceptions
39-2h. Affirmative Action and Reverse Discrimination
39-3. Other Equal Employment Opportunity (EEO) Laws
39-3a. Equal Pay
39-3b. Age Discrimination
39-3c. Discrimination against Persons with Disabilities
39-3d. GINA
39-4. Extraterritorial Employment
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Part 7. Business Organizations
Chapter 40. Types of Business Organizations
40-1. Principal Forms of Business Organizations
40-1a. Individual Proprietorships
40-1b. Partnerships, LLPs, and LLCs
40-1c. Corporations
40-2. Specialized Forms of Organizations
40-2a. Joint Ventures
40-2b. Unincorporated Associations
40-2c. Cooperatives
40-3. The Franchise Business Format
40-3a. Definition and Types of Franchises
40-3b. The Franchise Agreement
40-3c. Special Protections under Federal and State Laws
40-3d. Disclosure
40-3e. Vicarious Liability Claims against Franchisors
40-3f. Franchises and Employee Misclassifications
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Question
Chapter 41. Partnerships
41-1. Nature and Creation
41-1a. Definition
41-1b. Characteristics of a Partnership
41-1c. Rights of Partners
41-1d. Partnership Agreement
41-1e. Determining the Existence of a Partnership
41-1f. Partners as to Third Persons
41-1g. Partnership Property
41-1h. Tenancy in Partnership
41-1i. Assignment of a Partner’s Interest
41-2. Authority of Partners
41-2a. Authority of Majority of Partners
41-2b. Express Authority of Individual Partners
41-2c. Customary Authority of Individual Partners
41-2d. Limitations on Authority
41-2e. Prohibited Transactions
41-3. Duties, Rights, and Liabilities of Partners
41-3a. Duties of Partners
41-3b. Rights of Partners as Owners
41-3c. Liability of Partners and Partnership
41-3d. Enforcement and Satisfaction of Creditors’ Claims
41-4. Dissolution and Termination
41-4a. Effect of Dissolution
41-4b. Dissolution by Act of the Parties
41-4c. Dissolution by Operation of Law
41-4d. Dissolution by Decree of Court
41-4e. Dissociation under the RUPA
41-4f. Notice of Dissolution
41-4g. Winding up Partnership Affairs
41-4h. Distribution of Assets
41-4i. Continuation of Partnership Business
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 42. LPs, LLCs, and LLPs
42-1. The Arrival of Partnership Limited Liability
42-2. Limited Partnership
42-2a. Formation of Limited Partnerships
42-2b. Characteristics of Limited Partnerships
42-3. Limited Liability Companies
42-3a. Characteristics of LLCs
42-3b. LLCs and Other Entities
42-4. Limited Liability Partnerships
42-4a. Extent of Limited Liability
42-4b. Registration and Usage
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Question
Chapter 43. Corporation Formation
43-1. Nature and Classes
43-1a. The Corporation as a Person
43-1b. Classifications of Corporations
43-1c. Corporations and Governments
43-2. Corporate Powers
43-2a. Particular Powers
43-2b. Ultra Vires Acts
43-3. Creation and Termination of the Corporation
43-3a. Promoters
43-3b. Incorporation
43-3c. Application for Incorporation
43-3d. The Certificate of Incorporation
43-3e. Proper and Defective Incorporation
43-3f. Insolvency, Bankruptcy, and Reorganization
43-3g. Forfeiture of Charter
43-3h. Judicial Dissolution
43-3i. Voluntary Dissolution
43-4. Consolidations, Mergers, and Conglomerates
43-4a. Definitions
43-4b. Legality
43-4c. Liability of Successor Corporations
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 44. Shareholder Rights in Corporations
44-1. Corporate Stocks and Bonds
44-1a. Nature of Stock
44-1b. Certificates of Stock and Uncertificated Shares
44-1c. Kinds of Stock
44-1d. Characteristics of Bonds
44-1e. Terms and Control
44-2. Acquisition of Shares
44-2a. Nature of Acquisition
44-2b. Statute of Frauds
44-2c. Subscription
44-2d. Transfer of Shares
44-2e. Mechanics of Transfer
44-2f. Effect of Transfer
44-2g. Lost, Destroyed, and Stolen Share Certificates
44-3. Rights of Shareholders
44-3a. Ownership Rights
44-3b. Right to Vote
44-3c. Preemptive Offer of Shares
44-3d. Inspection of Books
44-3e. Dividends
44-3f. Capital Distribution
44-3g. Shareholders’ Actions
44-4. Liability of Shareholders
44-4a. Limited Liability
44-4b. Ignoring the Corporate Entity
44-4c. Other Exceptions to Limited Liability
44-4d. The Professional Corporation
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 45. Securities Regulation
45-1. State Regulation
45-2. History of Federal Regulation and Market Trends
45-2a. The Securities Act of 1933
45-2b. The Filing Requirements: Registration Statements
45-2c. The Securities Exchange Act of 1934
45-2d. Trading on Insider Information
45-2e. Disclosure of Ownership and Short-Swing Profits
45-2f. Tender Offers
45-2g. SEC Enforcement under the 1934 Act
45-3. Industry Self-Regulation
45-3a. Arbitration of Securities Disputes
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 46. Accountants’ Liability and Malpractice
46-1. General Principles of Accountants’ Liability
46-1a. What Constitutes Malpractice?
46-1b. Choice of Remedy
46-1c. The Environment of Accountants’ Malpractice Liability
46-1d. Limitation of Liability
46-2. Accountants’ Liability to Third Parties: Beyond Privity
46-2a. Status of the Accountant
46-2b. Conflicting Theories of Accountants’ Third-Party Liability
46-2c. Nonliability Parties
46-2d. Defenses to Accountants’ Liability: Contributory and Comparative Negligence of the Client or Third Party
46-2e. Accountants’ Fraud Malpractice Liability to Third Parties
46-3. Federal Laws on Auditors, Accounting, & Financial Reporting
46-3a. SOX and Auditor Independence
46-3b. SOX and Audit Committees
46-3c. SOX and Records Retention
46-3d. Dodd-Frank and Accountants as Whistleblowers
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 47. Management of Corporations
47-1. Shareholders
47-1a. Extent of Management Control by Shareholders
47-1b. Meetings of Shareholders
47-1c. Action without Meeting
47-2. Directors
47-2a. Qualifications
47-2b. Powers of Directors
47-2c. Conflict of Interest
47-2d. Meetings of Directors
47-2e. Liability of Directors
47-3. Officers, Agents, and Employees
47-3a. Powers of Officers
47-3b. Liability Relating to Fiduciary Duties
47-3c. Agents and Employees
47-3d. Executive Compensation under Dodd-Frank
47-4. Liability
47-4a. Liability of Management to Third Persons
47-4b. Criminal Liability
47-4c. Indemnification of Officers, Directors, Employees, and Agents
47-4d. Liability for Corporate Debts
47-4e. Protection of Shareholders
47-4f. Civil Liability of the Corporation
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Part 8. Real Property and Estates
Chapter 48. Real Property
48-1. Nature of Real Property
48-1a. Land
48-1b. Easements
48-1c. Profits
48-1d. Licenses
48-1e. Liens
48-1f. Fixtures
48-2. Nature and Form of Real Property Ownership
48-2a. Fee Simple Estate
48-2b. Life Estate
48-2c. Future Interests
48-3. Liability to Third Persons for Condition of Real Property
48-3a. Common Law Rule
48-4. Co-Ownership of Real Property
48-4a. Multiple Ownership
48-b. Condominiums
48-5. Transfer of Real Property by Deed
48-5a. Definitions
48-5b. Classification of Deeds
48-5c. Execution of Deeds
48-5d. Delivery and Acceptance of Deeds
48-5e. Recording of Deeds
48-5f. Additional Protection of Buyers
48-5g. Grantor’s Warranties
48-5h. Grantee’s Covenants
48-6. Other Methods of Transferring Real Property
48-6a. Eminent Domain
48-6b. Adverse Possession
48-7. Mortgages
48-7a. Characteristics of a Mortgage
48-7b. Property Subject to Mortgage
48-7c. Form of Mortgage
48-7d. Creative Forms of Financing
48-7e. Recording or Filing of Mortgage
48-7f. Responsibilities of the Parties
48-7g. Transfer of Interest
48-7h. Rights of Mortgagee after Default
48-7i. Rights of Mortgagor after Default
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 49. Environmental Law and Land Use Controls
49-1. Statutory Environmental Law
49-1a. Air Pollution Regulation
49-1b. Water Pollution Regulation
49-1c. Solid Waste Disposal Regulation
49-1d. Environmental Quality Regulation
49-1e. Other Environmental Regulations
49-1f. State Environmental Regulation
49-2. Enforcement of Environmental Laws
49-2a. Parties Responsible for Enforcement
49-2b. Criminal Penalties
49-2c. Civil Remedies
49-2d. Private Remedies: Nuisance
49-2e. Private Remedies: Due Diligence
49-3. Land Use Controls
49-3a. Restrictive Covenants in Private Contracts
49-3b. Public Zoning
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 50. Leases
50-1. Creation and Termination
50-1a. Definition and Nature
50-1b. Creation of the Lease Relationship
50-1c. Classification of Tenancies
50-1d. Termination of Lease
50-1e. Notice of Termination
50-1f. Renewal of Lease
50-2. Rights and Duties of Parties
50-2a. Possession
50-2b. Use of Premises
50-2c. Rent
50-2d. Repairs and Condition of Premises
50-2e. Improvements
50-2f. Taxes and Assessments
50-2g. Tenant’s Deposit
50-2h. Protection from Retaliation
50-2i. Remedies of Landlord
50-3. Liability for Injury on Premises
50-3a. Landlord’s Liability to Tenant
50-3b. Landlord’s Liability to Third Persons
50-3c. Tenant’s Liability to Third Persons
50-4. Transfer of Rights
50-4a. Tenant’s Assignment of Lease and Sublease
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
CPA Questions
Chapter 51. Decedents’ Estates and Trusts
51-1. Wills
51-1a. Definitions
51-1b. Parties to Will
51-1c. Testamentary Intent
51-1d. Form
51-1e. Modification of Will
51-1f. Revocation of Will
51-1g. Election to Take against the Will
51-1h. Disinheritance
51-1i. Special Types of Wills
51-2. Administration of Decedents’ Estates
51-2a. Definitions
51-2b. Probate of Will
51-2c. Will Contest
51-2d. When Administration Is Not Necessary
51-2e. Appointment of Personal Representative
51-2f. Proof of Claims against the Estate
51-2g. Construction of a Will
51-2h. Testate Distribution of an Estate
51-2i. Intestate Distribution of an Estate
51-3. Trusts
51-3a. Definitions
51-3b. Creation of Trusts
51-3c. Nature of Beneficiary’s Interest
51-3d. Powers of Trustee
51-3e. Duties of Trustee
51-3f. Remedies for Breach of Trust
51-3g. Termination of Trust
Summary
Learning Outcomes
Key Terms
Questions and Case Problems
Appendix 1. How to Find the Law
Appendix 2. The Constitution of the United States
Appendix 3. Uniform Commercial Code (Selected Sections)
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