Inferior Company, which is based on South Carolina, makes and sells products that are poorly made. Jack, who is a resident of North Carolina, buys an Inferior product and suffers an injury through its use. The diversity of citizenship between these parties means that
A. federal and state courts have concurrent jurisdiction.
B. federal courts have exclusive jurisdiction.
C. no court has jurisdiction.
D. state courts have exclusive jurisdiction.
Answer: A
You might also like to view...
The upper-level managers of Synergy Technology are meeting for the week to look at the long-term company goals and overall direction of the organization. The CEO has expressed her concern over the economy and has told her managers to look closely at the environment outside the organization before making decisions and to be future oriented. In this meeting, top managers of Synergy are
A. writing a belief statement. B. developing their goals pact. C. producing their code of ethics. D. doing strategic planning. E. doing management pledging.
Which organization is responsible for setting International Standards on Auditing?
a. IASB b. IFRS c. IAASB d. AICPA
Which of the following statements is NOT CORRECT?
A. When a corporation's shares are owned by a few individuals, we say that the firm is "closely, or privately, held." B. "Going public" establishes a firm's true intrinsic value and ensures that a liquid market will always exist for the firm's shares. C. The stock of publicly owned companies must generally be registered with and reported to a regulatory agency such as the SEC. D. When stock in a closely held corporation is offered to the public for the first time, the transaction is called "going public, or an IPO," and the market for such stock is called the new issue or IPO market. E. It is possible for a firm to go public and yet not raise any additional new capital for the firm itself.
Meek's Hunting Emporium is a retail store that carries all the products hunters need or think they need. It has set up an advertising plan that allows it to advertise every day prior to the opening of quail-, deer-, and turkey-hunting seasons on four local radio stations, as well as in the local newspapers. This is an example of a:
A. message execution plan B. media profile C. reach program D. media schedule E. frequency timetable