Submitted by: Submitted by christinalauren
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Category: Business and Industry
Date Submitted: 05/24/2012 08:15 AM
5 elements of self defense- Immediate fear serious bodily harm
SC wage payment act- can’t take away accrued wages.
Personal Property- Something that is moveable. Intend for it to be permanent or semi-permanent. Something that can be seen, touched, and possessed.
Ways to acquire personal property- purchase, inherit, theft, gift, will, accession, confusion, & creation
Bailment- When you transfer your personal property to another (without title). Bailee has to act within the scope of the bailment. EX: A motorist leaving a car with the garage for repairs, a family storing furniture in a warehouse, student borrowing a tuxedo to wear to a formal dance.
Special Bailments: Include common carriers & hotel keepers. Carriers (private carriers, common carriers). Liability of loss can arise from: acts of God, public authority, inherent nature of the goods, acts of the shipper, acts of the shipper.
Mistrial- double jeopardy doesn’t attach
Negotiable instruments- Substitute for money. The basic neg. instruments are: drafts (checks) & promissory notes.
Order instruments- Not a contract (checks), promissory notes. Unconditional
Which is better, a certified check or a cashiers check? A certified check is because the money is segregated opposed to the bank holding the money in the bank with a cashiers check and possibly becoming bankrupt.
Money order- Similar to a cashiers check. Drawn on account to whoever writes the money order.
Order payer- An order instrument.
Commercial paper
Promissory Notes- 7 requirements (Pg 234)- Buy a house- I promise to pay… Documents the loan. Put up as collateral for the loan the land. Negotiate for the promissory note. Person who signs the allonge is the debtor of the note. Unconditional promise in writing made by one person to another, signed by the promisor, engaging to pay on demand of the holder, at a definite time, a fixed amount of $ to the order or to bearer. If note is a demand instrument, holder...