Quiz Facts 6/ Business - Business Law

1

If a corporation (principal) gives a third party reason to believe that a broker is it's agent even-though the broker is unaware of the appointment, then the law gives to the broker:

2

Sam, the chief executive officer of Boch Industries, was prosecuted for violating the Resource Conservation and Recovery Act. Which of the following is correct concerning the penalties?

3

Prenuptial agreements are agreements made during a wedding ceremony that define each partner's duties to one another during the marriage

4

An instrument is not negotiable if it is not payable at a definite time.

5

Fact Pattern 3-2BKelly 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.Refer to Fact Pattern 3-2B. After the state's highest court's review of Kelly v. Lewis, a party can appeal the decision to the United States Supreme Court if

6

Hollywood Lights, Inc substantially complies with all conditions precedent to incorporation. Hollywood is most likely A) a corporation by estoppel

7

There are no precedents on which the court deciding the case Standard Resource Co. v. Topline Inventory, Inc.,can base its decision. The court can consider, among other things,

8

Which of the following is true regarding enforcement of employee rights and enforcement of employment laws?

9

Freedom from physical abuse is a basic fair employment practice

10

According to the Delaware Supreme Court, when does the role of a director shift from being a "protector of the corporate bastion" to being an "auctioneer" charged with obtaining the highest realizable short-term value for the shareholders?

11

What is the final required element of a negligence action?

12

After secured creditors in a Chapter 7 liquidation proceeding have been satisfied and there is enough money left to pay some, but not all other creditors, the claims of the same rank share the money on a pro rata basis

13

To prevail under the 1933 Securities Act, a plaintiff must prove A) the registration statement contained a material misstatement or omission; and the plaintiff lost money

14

Which of the following is a feature of a corporation?

15

A trademark is issued if the registrant proves he has used the mark in commerce.

16

Raymond agrees to transfer an easement right to Sandra for $1,000. This contract is within the Statute of Frauds and therefore needs to be in writing to be enforceable.

17

Robert was under contract to play football for the United Lions in May 2007. However, he died in an accident before he could perform his contract. His death will terminate his contract.

18

Jace and Liam are roughhousing in Liam's parents' front yard when Jace intentionally pushes Liam onto the neighbor's property. In this case:

19

Joe rent an apartment in the Trade Winds Apartments. He moved in one month earlier and signed a one year lease. Today, Joe received a notice stating the complex has been sold and his lease will terminate at the end of thirty days. Is this a violation?

20

In reviewing an agency action, which of the following are included in the questions of law a court will consider?

21

An appellate court can reverse the decision of a trial court that erred.

22

An executory contract is one in which performance by all parties has been completed.

23

The Third Restatement of Torts: Liability for Economic Harm provides that a false statement of opinion results in liability only if (1) the parties are in a fiduciary or confidential relationship or (2) the perpetrator of the fraud holds himself out as having expertise or other knowledge not accessible to the defrauded party.

24

Mr. Green enters into a contract with Ms. White to purchase legal ingredients that he plans to use to perfect an illegal marijuana manufacturing operation. Ms. White is aware that Mr. Green intends to use the ingredients for an illegal purpose. She refuses to pay the amount owed to Mr. Green and he sues in court. What is the court likely to do?

25

A grand jury decision will result in a final judgment as to the guilt or innocence of the defendant

26

Which of the following refers to a contract in which both parties have made promises to perform?

27

________ is defined as "any act or threat involving" specified state law crimes, any "act" indictable under various specified federal statutes, and certain federal "offenses."

28

When a corporation accepts legal responsibility for a contract, it is called novation

29

Global sourcing relates to:

30

Global Outfitters Outlet and Hyacinth, a consumer, enter into a contract for a sale of ultra-weather camping gear. If the contract includes a clause that is perceived as grossly unfair to Hyacinth, its enforcement may be challenged under

31

The Americans with Disabilities Act (ADA) applies:

32

A buyer whose seller breaks the contract may recover punitive damages based on three times the difference between the contract price and the current market price of the goods.

33

Offshore businesses are usually involved in money laundering operations

34

The reorganization plan is unique to what type of bankruptcy filing?

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Quiz Facts 6/ Business - Business Law

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