A smooth talking door-to-door salesman talks you into buying $200 worth of magazine subscriptions. After he leaves you want out of the deal. The contract you signed:
a. is voidable because you did not give genuine consent b. is voidable because you were under duress
c. will be voidable only if you can show the subscriptions are worth far less than you paid d. may be rescinded within 3 days under the FTC Cooling-Off Rule
e. is enforceable, you cannot walk away from this
d
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Select the statement that represents a situation where informed consent is not operative.
A. The complexity of a product has been fully explained to a consumer. B. The extended warranty conditions on a product have been fully disclosed to a consumer. C. The customer is not clear about the calculation of the interest rate on a leased product transaction. D. Warning labels on a product have pointed out any potential hazards associated with operating it. E. All of the answers are correct. F. None of the answers are correct.
Answer the following statements true (T) or false (F)
The equity method is the required reporting method for all less-than-majority owned companies.
Mallard Corporation is incorporated in Iowa and does business in Ohio. This corporation is:
A) A domestic corporation as to Ohio and a foreign corporation as to Iowa. B) A domestic corporation as to Iowa and a foreign corporation as to Ohio. C) A domestic corporation as to Iowa and an alien corporation as to Ohio. D) A foreign corporation as to both Iowa and Ohio. E) A domestic corporation as to both Iowa and Ohio.
As the shareholders' elected representatives, the board of directors are delegated the power to direct the business of the corporation
a. True b. False Indicate whether the statement is true or false