The most concrete object on the Ladder of Abstraction is a photograph or painting, i.e., the object itself
Indicate whether the statement is true or false.
F
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Stocks that carry certain specified preferences, or first claims, are called common stock
a. True b. False Indicate whether the statement is true or false
Business income includes all income earned in the ordinary course of business.
Answer the following statement true (T) or false (F)
Tilda purchases an automobile from Ronston. At the time of sale, Ronston tells Tilda that the car has had only one previous owner and has been driven only 25,000 miles. Tilda, relying on these statements, purchases the car
She pays 10 percent down and signs a promissory note to pay the remainder of the purchase price, with interest, in fifteen equal monthly installments. Ronston transfers the note to Patty. Tilda then discovers that the car has actually had three previous owners and has been driven 250,000 miles. Which of the following is the legal outcome if Patty is a holder in due course (HDC)? A) Tilda must pay Patty; find recourse with Ronston. B) Patty must pay Tilda; find recourse with Ronston. C) Patty pays no one; indorsement is considered void. D) Tilda can rescind the note; refuse to pay Patty.
Offers for both bilateral and unilateral contracts involve a promise by the offeror
Indicate whether the statement is true or false