Which of the following defenses to liability applies to the Securities Exchange Act of 1934 but NOT the Securities Act of 1933?  

Parties can disclaim or waive the implied duty to perform and enforce contracts in good faith.

Only a merchant makes an implied warranty of merchantability.

Either Jason and Anna are going swimming or Mary is relaxing at home. (HINT: Use parentheses around the Jason and Anna claim (right next to each letter) to help you put it in symbolic form.)

If a common law rule comes into conflict with the UCC, which will control the outcome?

Argument:  This bread machine was made by the same company that made my coffeemaker. I’ve had the coffeemaker for 3 years and it works great, so this bread machine should work fine. In the argument above, who or what is the source analogue? (REMEMBER: In all of these “fill in the blank” answers, be sure to type in each answer very carefully (including correct spelling) so that D2L would not mark it entirely wrong  due to a simple error by the student.)

Name this legal term: The action of a court to disregard the corporate entity and hold the shareholders personally liable for corporate debts and obligations. “Piercing the __________________ ____________________” (2 words)

What is the source of law for the “Franchise Rule”?  

Suppose an individual constructs a rocking chair with lumber that they do not own. The rocking chair is more valuable than the raw materials it was made with, the lumber. Who should legally gain title to the rocking chair?    

Department heads in independent agencies can be constitutionally removed by the President at will.