1
Q
If a cosurety pays more their their share
A
they can be compensated by the excess from the other cosureties
2
Q
Difference between surety and cosurety
A
Surety is when one person agrees to the obligations of a debt
Co surety is when multiple people agree to the same debt
3
Q
What is the formula for cosurety pro rata share
A
)Dollar amount of individual cosurety personally guaranteed divided by total amount of risk assumed by all cosureties) times the remaining obligation
A Wiley Review Notes REG
flashcards
Decks in class (99)
# Cards
-
Regulation of the Profession4
-
Disciplinary Systems of the Profession3
-
Common Law Liabilitiy to clients9
-
Common Law Liability to Third Parties7
-
Statutory Liability to Third Parties - Securities Act of 19335
-
Statutory Liability to Third Parties - Securities Exchange Act of 19342
-
Accountant's Working Papers2
-
Privileged Communications between Accountant and Client5
-
Criminal Liability3
-
Responsibilities of Auditors under Private Securities Litigation Reform Act5
-
Responsibilities under Sarbanes-Oxley Act5
-
Responsibilities of Tax Preparers18
-
Securities Act of 193311
-
Exempt Transactions or Offerings5
-
Securities Exchange Act of 19345
-
Dodd-Frank Act of 20102
-
Nature of Sole Proprietorships3
-
Nature of Partnerships6
-
Formation of a Partnership3
-
Partner's rights and operation of Partnership4
-
Relationship to Third Parties (Partnership)8
-
Termination of Partnership3
-
Limited Partnerships13
-
Joint Ventures3
-
Limited Liability Companies (LLC)6
-
Limited Liability Partnerships (LLPs)2
-
Subchapter C Corp2
-
Characteristics and Advantages of Corporate form3
-
Types of Corporations6
-
Formation of Corporation8
-
Corporate Financial Structure17
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Powers and Liabilities of Corporations8
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Directors and Officers of Corporations7
-
Stockholders Rights0
-
Stockholders Liability4
-
Substantial Change in Corporate Structure7
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Subchapter S Corporation1
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Offer8
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Acceptance5
-
Formation Defenses0
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Written Contracts0
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Assignment and Delegation8
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Third-party Beneficiary Contracts1
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Performance of Contract0
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Discharge of Contracts5
-
Remedies0
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Federal Social Security Act14
-
Workers Compensation Act8
-
Employee Safety3
-
Employment Discrimination8
-
Family and Medical Leave Act5
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Federal Fair Labor Standards Act3
-
National Labor Relations Act (NLRA)1
-
Federal Consolidated Budget Reconciliation Act (COBRA)1
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Pensions4
-
Environment Regulation12
-
Anti-Trust Laws10
-
Robinson-Patman Act of 19362
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Money Laundering2
-
Chapter 7 Voluntary Bankruptcy Petitions5
-
Chapter 7 Involuntary Bankruptcy Petition7
-
Chapter 7 Bankruptcy Proceedings8
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Claims2
-
Discharge of the Debtor1
-
Business Reorganization - Chapter 119
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Debt Adjustment Plans - Chapter 131
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The Bankruptcy Abuse Prevention and Consumer Protection Act of 20052
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Rights and Duties of Debtors and Creditors12
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Nature of Suretyship and Guaranty2
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Creditors Rights and Remedies7
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Surety's/Guarantors Rights and Remedies6
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Surety's/Guarantor's Defenses5
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Cosureties3
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Characteristics7
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Examples of Principals and Agents5
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Methods of Creation6
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Duties (Obligations) and Rights1
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Liabilities to Third Parties0
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Termination of Principal-Agent Relationship7
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Distinctions between Real and Personal Property5
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Personal Property5
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Bailments5
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Intellectual Property and Computer Technology Rights9
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Interests in Real Property8
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Types of Deeds6
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Recording a Deed4
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Title Insurance5
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Adverse Possession2
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Mortgages10
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Lessor-Lessee12
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Types of Negotiable Instruments8
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Requirements of Negotiability8
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Interpretation of Ambiguities in Negotiable Instruments1
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Negotiation7
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Holder in Due Course5
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Rights of a Holder in Due Course4
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Liability of Parties10
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Banks4
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Transfer of Negotiable Documents of Title4
