When current E & P has a deficit and accumulated E & P is positive, the two accounts are netted at the date of the distribution. If a positive balance results, the distribution is a dividend to the extent of the balance
a. True
b. False
Indicate whether the statement is true or false
True
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The Likert scale has several advantages. Which of the following is not an advantage?
A) It does not require a pretest of the adjectives or phrases to ensure bipolarity. B) Respondents readily understand how to use the scale. C) It is suitable for mail, telephone, or personal interviews. D) It is easy to construct and administer.
The liability coverage of the HO policy commits the insurer to defend lawsuits brought against the homeowner, even if the lawsuits are frivolous and groundless
Indicate whether the statement is true or false
Preferred Contractors was a general contractor and owner of a condominium complex that was under construction. Barrett, a subcontractor, had been hired by Henderson Plumbing, another subcontractor, to help it complete the plumbing work on the project. When Henderson began using shoddy installation procedures and subsequently fell behind the scheduled completion time for the project, Preferred Contractors urged Barrett to correct Henderson's mistakes and to finish the job. Barrett refused to continue until he knew who would pay him, since he feared Henderson's financial position was shaky. Nonetheless, Preferred Contractors' job superintendent told Barrett to go ahead even if Barrett and Preferred Contractors had no contract because "he would use his influence to try to help Barrett get
his money." Barrett finished the work and sent a $7,500 bill to Henderson, which was never paid. When Barrett later sent the bill to Preferred Contractors, these facts emerged: Preferred Contractors told him that due to Barrett's failure to notify Preferred Contractors promptly of Henderson's non-payment, Preferred Contractors had already paid Henderson in full and therefore would not pay twice for the work. Discuss the best possible theory of recovery Barrett may argue. What will be an ideal response?
In DCS Sanitary Management v. Castillo, where a company had employees agree not to work for any competitors within 100 miles of any customer of DCS, the appeals court held that the agreement:
a. effectively put the former employees out of the cleaning business within an extensive region and so were too broad to be enforced b. effectively put the former employees out of the cleaning business within an extensive region and so could be enforced c. ineffectively put the former employees out of the cleaning business within an extensive region and so were too broad to be enforced d. did not put the former employees out of the cleaning business within an extensive region and so could be enforced e. none of the other choices are correct