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Jerry Bright does business as the Grey House Center, a “B” level retail strip center in Martin, Florida. Mr. Bright previously borrowed $500,000 from Zadegan & Co. Commercial Lenders to finance 65% of his purchase. The mortgage from Zadegan & Co. Commercial Lenders to Jerry Bright contains a standard due-on-sale clause. While the mortgage is in-place Jerry Bright enters into a purchase and sale agreement with Necar Carlton Partners, an Ohio general partnership. Following the contractual due diligence period, Necar Carlton Partners has decided to move forward to closing. Jerry Bright’s and Necar Carlton Partners’ attorneys drafted the closing documents, and obtained Zadegan & Co. Commercial Lenders’ wiring instructions. Based on just the information presented (and nothing else), as soon as Jerry Bright’s attorney began reviewing the closing documents packages, Jerry Bright violated the _____________________ clause of Zadegan & Co. Commercial Lenders’ loan documents. (Select one answer only.)

Brooke is on the Board of Directors of Crystal Corporation.  She signs a contract on behalf of Crystal Corp. to purchase $2M of products.  The corporation decides to breach the contract, as it doesn’t want to be out $2M.  Brooke will be personally liable for the value of this contract.

Which of the following sources of law would take priority over an administrative regulation in the event of a conflict?

Breitmayer’s Retail Centers, LLC, a New Mexico limited liability company, has instructed its lawyers to include a binding provision in its form retail letters of intent. Breitmayer’s Retail Centers, LLC cannot do this.

Marge-7 Lending Partners has given a $7 million secured construction loan to Roger Middleton. Mr. Middleton bought raw land and then developed a BOMA “A” multi-structure shopping center, including a movie theater and skating rink facility, on the property. When the construction is finished, and Marge-7 Lending Partners is preparing to issue the close-out draw to Mr. Middleton, it ordered a(n) _____________________ survey: (Select one answer only.)

Meredith is ecstatic. She has just had a fantastic interview at Diamond Luxe, New York City’s finest luxury hotel.  Moments after her interview, a representative from HR hands Meredith a non-competition agreement to sign.  She tells Meredith that the job is hers as long as she signs the agreement.  The agreement states as follows: “Employee agrees that if and when her employment terminates, regardless of the reason, Employee will not become employed by any other hotel in New York.  Employee recognizes the importance of this limitation, as she will learn best practices and competitive secrets while employed by Diamond Luxe.”  If Meredith were to challenge this non-competition agreement in court, would she prevail?

Peter hires Paul and Erin to work for him in his architectural design firm.  Paul and Erin become fast friends and over lunch one day, they discover a shared interest in cooking.  They bemoan the fact that they haven’t yet found the perfect gazpacho recipe, and decide to collaborate to figure one out.  After weeks of daily work together, both in the office and out, Paul and Erin create their perfect recipe. They decide to keep it a secret.  Their recipe constitutes a trade secret and it belongs to Peter because Paul and Erin are his employees and collaborated on the recipe during business hours and while working for Peter.

Sam is Marla’s employee.  Sam enters into a contract with Parker on Marla’s behalf, promising Parker that Marla will pay Parker $2,000,000 if Parker will take Marla out for lunch every weekend for one month.  Sam assures Parker that he is authorized to make such a deal.  Marla, however, has never authorized Sam to make a contract on her behalf.  Both Sam and Marla will be liable for this contract.

The Infamous Order #11 to drive all Jews out of Tennessee was issued by

Questions (47)-(50) go together: Keaton Property Developers, LP, a Wyoming limited partnership, has completed the construction of a new BOMA “Class A” lifestyle center in Tallahassee. The center consists of multiple retail and office buildings, outparcels, and apartment buildings. In its Construction Loan Agreement Keaton Property Developers, LP’s lender, Bank of Tallahassee, requires as a post-closing covenant that Keaton Property Developers, LP provide the following type of survey specifically showing the completed improvements on the property: (Select one answer only.)