Kim and Lyle are partners in K&L Sales, which exports technical equipment. If Congress declares that the equipment can no longer be exported, K&L
A. can continue its business for one twelve-month period.
B. can continue its business indefinitely.
C. dissolves immediately unless the partners change its business.
D. is immediately subject to criminal prosecution and penalties.
Answer: C
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The Advertising Self-Regulatory Council (ASRC) of the Council of Better Business Bureau is composed of:
A) consumers and legal experts on advertising law B) judges and law professors from various universities C) advertising professionals and CEOs of major corporations D) advertising professionals and civic individuals
Which of the following is true in the event an assignee does not provide a notice of assignment to the obligor?
A) The assignee's only course of action is to sue the obligee for damages. B) The assignee cannot sue the assignor for damages. C) The obligor's only recourse is to sue the assignee for damages. D) The assignee cannot sue the obligor to recover payment.
Cady files an employment discrimination suit against Durable Goods Corporation under the Civil Rights Act. If Cady shows that Durable Goods acted with malice or reckless indifference, she may recover?
A) an unlimited amount of compensatory and punitive damages B) a limited amount of compensatory and punitive damages. C) compensatory, but not, punitive damages. D) punitive, but no compensatory, damages.
The party to receive a payment from a negotiable instrument is called the payee
a. True b. False Indicate whether the statement is true or false