A law that holds that directors will have no liability for breach of the duty of care in the absence of willful misconduct or recklessness and that does not require board or shareholder action is called a(n):
A. charter option statute.
B. cap on monetary damages statute.
C. enabling statute.
D. self-executing statute.
Answer: D
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The primary attribute of all assets is
A) service potential. B) productive capacity. C) historical cost. D) service contribution.
Kim has just graduated from law school. She had taken an education loan of $45,000, which now needs to be repaid in equal monthly installments over the next 6 years. What is the amount of the monthly loan payment, if the loan carries a simple annual interest of 5%? Use a calculator to make the calculation and round your answer to two decimal places.
A. $689.76 B. $663.85 C. $702.46 D. $658.92 E. $724.72
Curtis enters into a contract with Drive-Away Lease Company for a three-year lease of a car. This contract is subject to
A. Article 2 of UCC. B. Article 2A of the UCC. C. Article 11 of the CISG. D. the common law only.
________ represent basic convictions about what is right and wrong.
A. Dogmas B. Values C. Cultures D. Beliefs