Jack transfers a piece of real property “to Mark for his life, and then to John.”  What type of ownership interest has Jack created.

Which of the following is true regarding the relationship of shareholders and directors of the corporation?

A contract for the sale of goods that leaves open certain terms (e.g. price) is unenforceable, because it does not satisfy the common law requirement of definiteness of terms.

A contract is a voluntary agreement between parties that is enforceable by a court of law.

The statute of frauds requires that certain types of contract be in writing in order to ensure that terms are not forgotten or later alleged to have been included.

The Sarbanes-Oxley Act regulates accounting practices and sets forth certain responsibilities on the part of the Audit Committee.

Shareholders of a corporation have limited liability and do not participate in the management of the corporation; but do have the right to elect directors and vote on certain matters such as a proposed increase in the number of authorized shares or proposed merger.

An agent’s duty of notification can best be described as a duty to

The equitable doctrine that permits enforcement of an oral contract that is required to be in writing, when one party relied upon the promise of the other to his or her detriment, is known as

The principal is liable for negligent conduct of agents while acting within the scope of their authority.