In Deschamps v. Treasure State Trailer Court, Ltd. where Deschamps was sued after he bought a mobile home trailer park and then stopped making payments on it because he claimed the seller told him the water system was in good condition when in fact it required $400,000 of repairs, the supreme court of Montana held that:
a. Deschamps had to make the full payment because his claims of reliance on verbal information were barred under the parol evidence rule
b. Deschamps did not have to make the full payment because his claims of reliance on verbal information were barred under the parol evidence rule
c. Deschamps should not have to make the full payment because there was a lack of agreement in the contract d. Deschamps should not have to make the full payment because there was a lack of consideration in thecontract
e. the original contract was void
a
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Scenario B: Meyer works for a new start-up technology firm, which has six highly opinionated but very committed employees. The owner of the firm, Zalman, strongly believes that he should make every decision since he is the boss. But Zalman often jumps to conclusions and does not even take time to diagnose the problem at hand because he does not like to ask any of the employees for suggestions. Moreover, Zalman's decisions are usually focused on short-term rather than long-term benefits and costs. At this point, most people in the firm agree that the decision making of the owner is going to destroy the young firm before it really gets started.Zalman's belief that he should make every decision himself by diagnosing the problem as he sees it and then immediately implementing a solution is
a(n) A. example of goal displacement. B. form of social loafing. C. mistake that leads to suboptimal decisions. D. positive way of making good decisions. E. example of vigilance against groupthink.
Which of the following would be seen as a breach of the duty of loyalty by a corporate officer?
A) straight voting B) cumulative voting C) piercing the corporate veil D) self-dealing
To prove usurping by a director or an officer, a corporation must have the financial ability to take advantage of the usurped opportunity
Indicate whether the statement is true or false
Juanita paid a life insurer $45,000 in exchange for an immediate life annuity. Juanita will receive $500 per month from the insurer, and her life expectancy is 15 years (180 months)
Assume that Juanita receives 12 monthly payments of $500 the first year. How much taxable income must she report? A) $3,000 B) $4,000 C) $4,500 D) $6,000