The contract between the bond issuer and the bondholders identifying the rights and obligations of the parties, is called a(n):
A. Debenture.
B. Mortgage contract.
C. Bond indenture.
D. Installment note.
E. Mortgage.
Answer: C
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The Federal Trade Commission (FTC):
A. cannot order federal courts to award redress. B. does not have power to regulate unfair and deceptive practices in cyberspace. C. has authority to decide whether specific marketing and sales practices are unfair or deceptive. D. can find that a seller engaged in unfair trade practices only if the seller violated one of the federal laws the FTC is empowered to enforce.
Star Drilling Company produces Auger-a moving device used in mines. In a recent advertisement, the firm featured the president of the National Mining Association stating, "I can guarantee the performance of Star Augers." This is an example of:
A. a guarantee statement. B. dramatization. C. an expert opinion technique. D. a testimonial. E. a witness statement.
Sheila and Rob mutually decide to start a business together. Being close friends, they do not enter into a written agreement and agree to split all responsibilities and profits equally
However, Sheila soon finds herself saddled with more than her share of work. She now resents splitting the profits equally since her contribution to the business is more. This has affected Rob and Sheila's friendship. What form of business organization is followed by Rob and Sheila? What should they have done to prevent any misunderstandings between themselves? Can Sheila legally claim a greater share of profits?
Explain what may constitute a material breach and list the several basic principles that must be applied to determine if a material breach exists in a given contract