Karen is a strong swimmer. One afternoon she is having a picnic at a lake and sees a man she does not know drowning. Generally, Karen
A) has a legal duty to rescue the man
B) has a legal duty to rescue the man, but only if her efforts will not pose a serious threat to her own safety.
C) has a legal duty to rescue the man since, as a strong swimmer, she is treated as a "special class" of persons who must get involved in such situations.
D) has no legal duty to rescue the man.
D
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Describe an internal control that would prevent the acquisition of office equipment which is not needed by the firm
Which of the following statements is TRUE if a bond is issued for an amount equal to its face value?
A) The bond's stated interest rate is less than the prevailing market interest rate at time of sale. B) The bond's stated interest rate is the same as the prevailing market interest rate at time of sale. C) The bond's stated interest rate is more than the prevailing market interest rate at time of sale. D) The bond is not secured by specific assets of the issuer.
Smith's of Dallas agreed to buy $10,000 worth of dresses F.O.B. Dallas from Magnifique Manufacturing Co in New York for their October 1 Fall Showing. The cost of shipping the dresses is $300 . In New York, Magnifique dresses were the rage, but the boom
had not yet reached Dallas. By September 15, Smith's realized that the shop could not afford all of these dresses and called Magnifique to cancel the contract before the goods were shipped. On September 15, the market price for the dresses in New York was $9,000 and in Dallas, $5,000 . On October 1, the market price had risen to $9,500 in New York and to $7,000 in Dallas. What may Magnifique do? What damages may be sought from Smith's?
Pizza & Cookies, LLC, is a limited liability company. Among its members, a dispute arises that the operating agreement and the state LLC statute do not cover. The dispute is governed by
a. no law. b. the federal Uniform LLC Law. c. the principles of partnership law. d. the state corporation statute.