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The Securities and Exchange Commission (SEC) decides whether an advertisement is deceptive on a case-by-case basis.

In the United States, officials found guilty of extortion and accepting bribes are subject to life imprisonment or even the possibility of being put to death.

Under common law, an agreement begins when one party, the offeror, makes a promise to another party, the offeree.

Legally, shareholders of an S corporation are required to report their income from the corporation as personal income.

A corporation does not have to be incorporated in the state in which it has its principal place of business.

A consumer law is a statute or an administrative rule serving to protect commercial interests.

Specific performance is also referred to as specific enforcement.

Corporate directors typically serve for one year.

When one party to a contract wants to substitute a different performance for his original duty under the contract, this is known as an accord and satisfaction.

Personal property does not include land.