Fact Pattern 3-B2

question 37

Multiple Choice

Fact Pattern 3-B2
Kelly files a suit against Lewis in a state court. The case proceeds to trial, after which the court renders a verdict. The case is appealed to an appellate court.
-Hua, a resident of Illinois, owns a warehouse in Indiana. A dispute arises over the ownership of the warehouse with Jac, a resident of Kentucky. Jac files a suit against Hua in Indiana. Regarding this suit, Indiana has

• A) diversity jurisdiction.
• B) in personam jurisdiction.
• C) in rem jurisdiction.
• D) no jurisdiction.

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Definitions:

Discount

A reduction applied to the regular price of goods or services, usually to incentivize purchase.

GICs

Guaranteed Investment Certificates, which are Canadian investment products that offer a guaranteed rate of return over a fixed period.

Simple Interest

Interest calculated only on the principal amount, without compounding.

Financial Position

A snapshot of a person's or entity's financial situation at a specific point in time, encompassing assets, liabilities, and net worth.