Business Law p.3

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Dale and Ernie are partners who own and operate Cluck'n Hut a chain of fast food restaurants. Their partnership obtains insurance on the owners' lives. This is

key-person insurance

Grover is an accountant with the firm of Hall & Associates, which obtains insurance from Interstate Insurance Inc, on Grovers life. Groverdies. The proceeds of the policy belong to

Hall & Associates

EZ Rentals Company wants to insure the equipment taht it rents to the public. To obtain insurance, EZ must have an insurable interest in the property

at the time a loss occurs

Ginny obtains a health insurance policy for her family from Hope Insurance Company. The policy includes an incontestability clause. Under such clause, after a policy has been in force for 2 or 3 years

Hope cannot contest Ginny's statements in the application

Dag obtains from Excel Insurance Company that provides that Dag has 30 days after a premium's due date to pay it before the policy will be canceled. This is

an antilapse clause

Kerin obtains a property insurance policy for her art collection from Lawton Insurance Company. Lawton can cancel the policy

at any time

Speedy Shipping Corporation applies to TransInsurance Company for a fire insurance policy on Speedy's warehouse. On the application, Speedy misrepresents the age of the property to obtain a lower premium. When a fire soon destroys the warehouse, TransInsurance can

deny payment, because of Speedy's fraud in the application

Mia's voluntary petition for bankruptcy is found to be proper. The order for relief is effective as soon as

Mia files the petition

Valley Ranch cannot provide its creditors with adequate protection during the automatic stay. The bankruptcy court is most likely to

remove the stay and permit the affected assets to be repossessed

Kipper files a petition in bankruptcy. Kipper's dischargeable debts include

unsecured credit-card debt

To reorganize debt and continue in business, Sports & Fitness Corporation may file a petition in bankruptcy under the Bankruptcy Code's Chapter

11

Veda believes that she needs to obtain a Ch. 13 discharge in bankruptcy. A Chapter 13 proceeding can be initiated by filing of a petition by

a debtor

Genetic Seed Comapny hires Howie to work on Genetic's shipping dock, accepting deliveries and dealing with other companie's drivers. With respect to Genetic, Howie is most likely

an agent

Janet and Julie work at ABC Interiors. Janet is a designer who works with clients of ABC on interior design projects. ABD closely supervises all of its designers, and dictates their work schedules. Julie works part-time in the evenings cleaning the offices.
- Julie is ABC's

employee or independent contractor, depending on whether ABC controls the details of her physical performance

Jill introduces Kelly to her friends as "my associate." Kelly puports to act a Jill's agent in several business transactions with those friends. If Jill is liable for Kelly's actions, it will be under

the doctrine of estoppel

Home Development Company employs llya to buy property for a future residential development. llya secretly buys some of the property and sells it to Home Development at a profit. llya has breached

the duty of loyalty

Cory employs Daily Delivery Agency as an agent under a written agreement that describes the rights and duties of both parties. This is

express authority

Clive is a purchasing agent for Double D Ranch with the authority to buy cattle at a certain auction. After the cattle are bought, the agency relationship terminates

AUTOMATICALLY

Holly takes temporary leave from her job at Interstate Trucking Company to care for her new baby. When she attempts to return work, Interstate refuses to reinstate her. Under the Family and Medical Leave Act, Holly may be entitled to

double damages, job reinstatement, a promotion, and more.

Greta is the only female employee in the maintenance department of Hydraulics Inc. Greta's supervisor and co-workers tease and play tricks on her so relentlessly that she feels compelled to quit. This is

a constructive discharge on the basis of gender discrimination

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