Which type of bankruptcy is a reorganization that can be used by individuals who meet certain requirements, such as having regular income and debts of $1 million or less?
a. Chapter 3
b. Chapter 5
c. Chapter 7
d. Chapter 11
e. Chapter 13
e
FEEDBACK: a. Incorrect.
b. Incorrect.
c. Incorrect.
d. Incorrect.
e. Correct.
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The Employee Polygraph Protection Act of 1988 prohibits private employers from using mechanical lie detector tests to investigate economic losses due to theft, embezzlement, or industrial espionage.
Answer the following statement true (T) or false (F)
When the economy is expanding too quickly and the Federal Reserve (Fed) wants to control future growth in the economy, the Fed will:
A. decrease the money supply. B. reduce the taxes levied on the public. C. increase the expenditure incurred on social benefits. D. purchase securities from the public. E. provide subsidies to the corporations.
Jan hires Duncan to act as her agent in acquiring some property for the development of a new subdivision she is planning that will be an elegant planned community. Jan instructs Duncan that he is not to say he is working for her or, for that matter, that he is working for anyone. If Duncan enters into a contract for land for Jan that is the parcel she wanted: A) Duncan only is liable on the
contract for the purchase of the land. B) Jan can never be held liable for the land because Duncan acted in his name. C) both Jan and Duncan are liable on the contract for the purchase of land. D) it is fraud to conceal the identity of a party to a contract. E)None of the above
Product Liability. New England Ecological Development, Inc (NEED), a recycling station in Rhode Island, needed a conveyor belt system and gave the specifications to Colmar Belting Co Colmar did not design or make belts but distributed the component
parts. For this system, Emerson Power Transmission Corp (EPT) manufactured the wing pulley, a component of the nip point (the point at which a belt moves over the stationary part of the system). Kenneth Butler, a welder, assembled the system with assistance from Colmar. Neither Colmar nor EPT recommended the use of a protective shield to guard the nip point, and as finally built, NEED's system did not have a shield. Later, as Americo Buonanno, a NEED employee, was clearing debris from the belt, his arm was pulled into the nip point. The arm was severely crushed and later amputated at the elbow. Buonanno filed a suit in a Rhode Island state court against Colmar and EPT, alleging in part strict liability. The defendants filed a motion for summary judgment, arguing that as sellers of component parts, they had no duty to ensure the proper design of the final product. On what grounds might the court deny the motion?