Chapter 5. Business - Business Law

1

Bill and Charlene enter into a contract for the clearing, plowing, and preparing of Charlene's 100-acre tract for which she agrees to pay $1,000. Bill transfers his duty under this contract to Dewey. Dewey is A) a delegatee

2

Which of the following promises is subject to the "strict performance" standard? Assume that performance of the promise is not an express condition of the promisee's duty to perform.

3

Fundamental rights include all EXCEPT the right to:

4

A durable power of attorney preserves the authority of an agent when the principal becomes incapacitated.

5

A _____ indorsement designates the particular person to whom payment should be made

6

Which of the following could be used as a way to get around the parol evidence rule? The court could find that

7

When a debtor defaults, a secured creditor can take possession of the collateral without a court order and either retain or resell the collateral.

8

In many states, the usury statutes do not apply to retail installment credit sales and credit card transactions.

9

If an individual enters into a contract for sale with a minor:

10

Under the common law, a landlord is under an obligation to provide or maintain the premises in a livable condition.

11

In Zambelli Fireworks v. Wood the appeals court held that the noncompete agreement Wood had signed with his former employer, Zambelli, was too restrictive and could not be enforced

12

Bennett would like to propose to the board of directors of Benmarc, Inc., that the corporation distribute one percent of its pre-tax yearly income to feed the poor. To Milton Friedman and others, Bennett's proposal might be considered unethical, because it violates the purpose for which the corporation was established.

13

Regarding promotions, which of the following would NOT constitute good information and advice for managers?

14

The complaint is filed by the defendant

15

Which of the following best distinguishes an offense as being a white collar crime?

16

All persons who are arrested have a constitutional right to legal counsel

17

The Environmental Protection Agency (EPA) does not work with other agencies to carry out its duties.

18

John is auditing MegaCorp He finds an accounts payable for 10,000 cases of ball bearings. He checks to make sure the paper actually arrived and that the receiving department had signed and dated the invoice. He also checks the original purchase order to make sure the purchase was properly authorized. This illustrates

19

GBH, an accounting firm, was hired to prepare financial statements for E-treme. GBH A) cannot show the working papers to E-treme unless there is a valid court order

20

[Hair Stylist Woes] Ryan, a college student, went to see his hair stylist, Melissa. Ryan, who had black, curly hair, requested straight, blond hair. Melissa told him that she could make those changes, but that there would be significant upkeep involved. Melissa made the changes, but Ryan did not do the upkeep required. Ryan proceeded to falsely claim that Melissa did not do what Ryan asked her to do, that Melissa lied to him, and that Melissa was professionally incompetent. Ryan made the statements about Melissa to friends of his. He also wrote a letter to his college newspaper saying that Melissa's shop should be avoided at all costs because Melissa was incompetent. In fact, Melissa was a good hair stylist and enjoyed a good reputation up until the time that Ryan started his criticism.

in Business

Melissa threatened to sue Ryan for defamation, but Ryan told Melissa that she could not prevail because she could not prove loss of income. Melissa had to admit that while her reputation had been damaged somewhat and she felt embarrassed and humiliated, the damage was primarily among the college population. Her income kept increasing from other segments of the community, and she had suffered no net loss. All her appointment times were booked for weeks ahead.In reference to the statements made to his friends, which of the following is true in regards to Ryan's remark that Melissa cannot recover because she has not suffered a loss of income?

A. Ryan is incorrect because special damages will be presumed.
B. Ryan is correct.
C. Ryan is correct only if he can show that he did not intend to cause Melissa loss of income.
D. Ryan is incorrect but only because Melissa cannot establish libel per se.
E. Ryan is incorrect because his statements constituted slander per se.

21

________ refers to a doctrine that says a plaintiff who is partially at fault for his or her own injury cannot recover against the negligent defendant.

22

The safe harbor provision applies to forward-looking statements in connection with an initial public offering

23

In the Bulwer v. Mount Auburn Hosp. case, the defendants were found not guilty of: A) malevolence

24

A partner is liable for honest errors in judgment in conducting partnership business.

25

Ian buys a cell phone in Jiffy Mart, using the means that accounts for more retail payments than any other. This means of payment is

26

Stealing is wrong, but stealing food for a starving child would reflect a ________.

27

Which of the following is TRUE of ads in which licensees advertise real property they have listed?

Find your answers, solutions and more...

We made it much easier for you to find exactly what you're looking for on Sciemce. Enjoy our search engine "Clutch."

Save a GPA. Donate your notes with us.

Chapter 5. Business - Business Law

Recent Packs