A person with a life estate cannot do which of the following?

The same item may be classified as either equipment or consumer goods, depending on how it is used by the debtor.

Being able to have a driveway across your neighbor’s land for the purposes of accessing your land is what type of easement

Which of the following owe a fiduciary duty to the corporation?

The difference between common and preferred stock is that the latter is a debt instrument, whereas the former represents an equity interest in the company.

This is the basic contract among the members of an LLC; it governs the affairs of the LLC and states the various rights and duties of the members and any managers.

Bob contributed $50,000 as a limited partner in a limited partnership. Upon dissolution of the partnership, the priorities in distributing the assets are to:

This type of capital creates an ownership interest in the corporation whereby the holders are owners of the corporation but also have a riskier financial position than that of creditors. 

This is the document that must be filed with the Secretary of State and become the basic governing document of the corporation (assuming the provisions are consistent with State and Federal Law).

What is the term for when a partner ceases to be involved in the business?