Regarding a negotiable instrument, Alice makes an oral promise to pay Bob $1,500. This is not a negotiable instrument because:

A landlord is going through the process to evict a tenant for non payment of rent. However, the court has not yet made a decision and the tenant is still in possession. The landlord has gone through this a thousand times and knows that the eviction will go through. So, one day when the tenant is out shopping, the landlord removes the old locks and puts a new lock on. A court would likely see this as:

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.