Common law is:
a. the foundation of agency law b. the foundation of contract law c. the foundation of property law d. the foundation of tort law
e. all of the choices are correct
e
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The board of directors of Irondale Corporation declared a cash dividend of $2.50 per share on 57,000 shares of common stock on June 14, 2010 . The dividend is to be paid on July 15, 2010, to shareholders of record on July 1, 2010 . The proper entry to be recorded on June 14, 2010, will be:
a. Dividends 142,500 Dividends Payable 142,500 b. Dividends payable 142,500 Cash 142,500 c. Dividends 142,500 Retained Earnings 142,500 d. Dividends payable 142,500 Dividends 142,500
High taxation, excess regulation, and limited choices in a business environment are likely to result in a(n):
A. decrease in entrepreneurial activities. B. increase in the level of personal freedom. C. increase in global trading. D. social crisis.
In an open listing, the seller may list the same property with more than one broker without fear of additional commission liability
Indicate whether the statement is true or false
In 2005, Bettina opened Bettina Brownies in a shopping mall. The brownies were a hit and soon Bettina was operating shops in several malls in Illinois. By 2012 she had expanded operations to Indiana and she decided that it was time to finance expansion through the equity markets. With an investment banker, she prepared for the initial offering of Bettina Brownies. She sold 50,000 shares of stock
at $10 a share. Expansion continued. Keebler determined that Bettina was a well-run company with an attractive financial position. It began secret negotiations with Bettina to buy her interest in the business. News of the negotiations leaked. Mr. Little, CEO of Keebler, denied that they were pursuing a deal with Bettina. A month later Bettina sold her share of the business to Keebler. Shortly before Bettina sold her interest to Keebler, Joe Kelso, a carpet cleaner was working at Bettina office when he overheard discussion of the sale to Keebler. Joe bought a large number of shares in Bettina. After the Keebler sale was completed, Joe sold his stock for a substantial profit. If Joe is prosecuted for insider trading, the SEC will need to prove that he had a fiduciary duty to not use the information he heard at Bettina offices. Which case will Joe be most likely to rely upon to prove that he was simply a lucky outsider who did not have a fiduciary duty to not use the information he acquired? a. Chiarella v. United States b. U.S. v. Johnson c. SEC v. Ginsburg d. SEC v. Howey e. SEC v. Levine