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Question
Mike lends money to Kathy as a business loan to Kathy who is capitalizing her start up sole proprietorship named Kathy's Things. If Mike must sue for repayment, he would sue:A.Kathy.
B.Kathy's Things.
C.Kathy and Kathy's Things.
D.no one since the loan makes him a partner.
Answer
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Related questions
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A.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the original contract amounting to repudiation by the United States.
B.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the contract, barring certain types of oil exploration, frustrating Mobil's contractual purpose.
C.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, they had not yet filed their oil excavation plan so they could not know whether they were facing a problem.
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