What is legal insanity?
What will be an ideal response?
The law protects people suffering from substantial mental incapacity from enforcement of contracts against them because such persons may not understand the consequences of their actions in entering into a contract. To be relieved of his or her duties under a contract, a person must have been legally insane at the time of entering into the contract. This state is called legal insanity. The person's mental incapacity must render that person incapable of understanding or comprehending the nature of the transaction. Mental incapacity may arise because of mental illness, brain damage, mental retardation, senility, and the like. Mere weakness of intellect, slight psychological or emotional problems, or delusions does not constitute legal insanity.
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Which of the following is a feature of a Chapter 11 plan of reorganization?
A) an equilateral division of the Chapter 11 estate among all creditors B) division of the bankruptcy estate according to the debt to be paid to each creditor C) discharge of a debtor's unsecured debts and payment of secured debts D) a proposed new capital structure for a debtor to assume when it emerges from Chapter 11 bankruptcy
Authorization cards are cards signed by employees to indicate interest in having a union represent them
Indicate whether the statement is true or false.