The doctrine of stare decisis can be defined as:
a. the use of prior case decisions as guidance in resolving later disputes b. laws setting forth rules for relationships between people
c. a private or civil wrong that results in injury to another
d. decisions concerning legal wrongs or crimes committed against society e. none of the other choices are correct
a
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Brand infringement occurs when:
A) an Internet domain is used that is similar to a brand name B) individuals purchase domain names just for the purpose of selling them later to famous individuals or companies C) a company creates a brand name that closely resembles a popular or successful brand name D) the brand name is used in advertisements by competitors
Which of the following is true of the right to disaffirm?
A. If there was no reason to know of the other party's lack of capacity, the contract can be disaffirmed without placing him or her in status quo. B. People lacking mental capacity cannot disaffirm their contracts. C. If the plaintiff knew or should have known of the other party's incapacity, the person lacking such capacity is not allowed to disaffirm without restoring the status quo. D. On disaffirmance, people lacking mental capacity must return any consideration that they had received.
Implied authority consists of:
a. the power of an agent to do whatever is authorized by the Uniform Agency Act b. the power to mingle the funds of the agent and principal c. limits on an agent's actions, so that the agent may only do what the principal orders, in writing or orally d. the power of the agent to withhold services if the principal fails to pay her e. none of the other choices
Mr. Bobson owns a hardware store. The gross sales for the first quarter of the year were $92,000. There was $1,930 in returned merchandise and $2,300 in sales discounts. His beginning merchandise inventory was $54,000 and his ending inventory was $40,000. He purchased $17,000 of additional merchandise for sale during the quarter, returned $1,750 worth of merchandise damaged during shipment, and
received $3,800 in purchase discounts. Mr. Bobson's operating expenses include the following: delivery expense, $263; depreciation expense for equipment, $750; payroll taxes expense, $585; salary expense, $11,700; supplies, $395; and utilities expense, $420. What is the net sales for Bobson's hardware? A) $87,770 B) $89,700 C) $90,070 D) $92,000