Charlie Seam is a broker for a major stockbroker in New York City. Charlie took a job at night with a janitorial firm that is responsible for doing the cleaning on several of the major law firms in New York. These firms also handle the legal business
for the largest companies in the United States. Over the past few years these same firms have drafted the documents and done the necessary filings for takeovers among these firms. Charlie has discovered that, as a supervisor, he is able to move freely around the offices and read of developing events on the partners' desks. Through this job Charlie has been able to make some very good investments for himself and his clients. Do Charlie's actions violate 10(b)?
Probably yes because he had no interest in the information and was violating the client's confidence by using the access to the offices for obtaining information. On the other hand, a good argument could be made that Charlie is no different than the printer and that if he happens along on information that is valuable, there is no breach of duty.
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The company determines that the interest expense on a note payable for the period ending December 31 is $775 . This amount is payable on January 1 . Prepare the journal entries required on December 31 and January 1
Which of the following statements is true of defenses to negligence?
A) Under the last-clear-chance doctrine, once the defendant establishes contributory negligence on the part of the plaintiff, the plaintiff cannot recover damages. B) The court determines the percentage of fault of the defendant under a contributory negligence defense. C) In a modified comparative negligence defense, the plaintiff can recover if the defendant is more than 50 percent at fault. D) The parties get to pick the most appropriate defense to negligence in a lawsuit.
To initiate a lawsuit, both parties must appear in person and state their claims and defenses in court
Indicate whether the statement is true or false
When firms at the same level of operation, such as auto parts dealers, get together for some illegal purpose, it is called:
a. a horizontal restraint of trade b. a vertical restraint of trade c. a de facto merger d. a concentrated industry e. none of the other choices