Private employers are generally free to hire and fire workers at will, regardless of the employees’ performance.

In most states, an individual can be an officer or a director of a corporation, but not both at the same time.​

Ferris is an employee of Guitars LLC. Guitars’ employee manual states that workers, such as Ferris, will be dismissed only for good cause. With respect to the employment-at-will doctrine, this is

An artisan’s lien is effective only if a creditor has possession of the property.​

A preference occurs when a debtor transfers property or money favoring one creditor over others.​

Before filing for bankruptcy, a consumer-debtor must receive credit counseling.​

Typically, the franchisee determines the territory to be served by the franchise.​

Corporate officers are selected and removed by shareholders.​

All forms of business organizations are treated as legal entities separate from their owners.​

In many states, close corporations have more flexibility in determining their rules of operation.​