Thompson raised 80 acres of corn, most of which he used to feed his own cattle. He locally sold what he did not use. Based on the Supreme Court's ruling in Wickard v. Filburn,
a. Congress has no authority over Thompson's activity based on the negative aspect of the Commerce Clause.
b. Congress may regulate Thompson's farming activity because it has a substantial economic effect on interstate commerce.
c. only Thompson's local government can regulate his farming activity.
d. only Thompson's state and local governments can regulate his farming activity.
b
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If an oral contract has been declared unenforceable under the statute of frauds, yet one of the parties has rendered some performance under the contract that conferred benefits on the other party, he or she can recover the reasonable value of the performance in ________.
A. collateral enforcement B. quasi contract C. promissory estoppel D. guaranty contract
On February 15, Jewel Company buys notes of Marcelo Corp. for $201,010. The investment is classified as long-term available-for-sale securities. This is the company's first and only investment in available-for-sale securities. The journal entry to record the purchase on February 15 is:
A. Debit Long-Term Investments-AFS $201,010; credit Cash $201,010. B. Debit Debt Investments-HTM $201,010; credit Cash $201,010. C. Debit Debt Investments-Trading $201,010; credit Cash $201,010. D. Debit Debt Investments-Trading $201,010; credit Notes Payable $201,010. E. Debit Debt Investments-AFS $201,010; credit Notes Payable $201,010.
Building codes specify the ________
A) policies on the implied warranty of habitability for residential leases B) rules on proper delivery of possession to the tenant C) standards for property owners to maintain and repair leased premises D) laws regulating the extent to which a landlord can interfere with a tenant's right to quiet enjoyment
Which of the following has been held to destroy the negotiability of an instrument and to render its transfer a contractual assignment?
a. "I wish you would pay." b. "Pay to the order of John Jones." c. "Pay bearer." d. None of these.