MCQ'S- Q1 Vicky is a shareholder in Web Services, Inc. Vicky could typically exercise appraisal rights....
Question;Question 1;Vicky is a shareholder in Web Services, Inc. Vicky could typically exercise;appraisal rights if Web was involved in;a consolidation only.;a merger only.;a consolidation or a merger.;neither a consolidation nor a merger.;0.5 points;Question 2;A transaction in which two corporations combine such that afterwards only one;of them still exists and owns all the assets previously owned by either;corporation is best called a;Merger.;Consolidation.;Purchase of assets.;Share exchange.;0.5 points;Question 3;Even an employee at-will can sue for wrongful discharge when he or she;a.;Is discharged in violation of Title VII of the Civil Rights Act.;b.;Is discharged in violation of the Public Policy doctrine.;c.;Is negligently discharged by the employer.;d.;All of the above.;0.5 points;Question 4;X Business Corporation markets its products in three states. Under the;Constitution?s commerce clause, Congress can regulate;any and all commercial activity in the United States.;only commercial activities that are in interstate commerce.;only commercial activities that are local.;only activities that have nothing to do with commerce.;0.5 points;Question 5;Which of the following is not a correct statement concerning the reasons sufficient;to give a court power to dissolve a partnership?;A partnership may be dissolved if one of the partners is declared physically;disabled or mentally incompetent.;A partnership may be dissolved because a partner is shown to be not adequately;performing his or her part of the partnership contract.;A partnership may be dissolved if the business can only be carried on with;substantial continuing losses.;A partnership may be dissolved if one of the partners commits misconduct or;gross negligence or materially breaches the partnership agreement.;0.5 points;Question 6;A promoter's preincorporation contract;binds only the promoter unless adopted by the corporation.;binds both the promoter and the corporation.;binds only the corporation.;binds neither the promoter nor the corporation if rejected by the corporation.;0.5 points;Question 7;Where the principal makes representations to a third party about the role that;an agent is to play, which kind of authority usually arises?;Apparent authority.;Authority by ethics.;Inherent authority.;Implied authority.;0.5 points;Question 8;Standard Company and Tom wish to enter into an agency relationship for the;purpose of buying computers for Standard?s offices. The relationship requires;as a general rule;a written agreement and consideration;a written agreement only;consideration only;neither a written agreement nor consideration;Question 17;A bank;representative closes the bank vault at night before going home. Unknown to the;bank representative, a customer was inside auditing his safe deposit box with;the permission of a bank teller. Everyone goes home and the bank representative;carelessly forgets to look inside the vault before closing it. The bank vault;is closed, and the customer is locked inside for 24 hours. When the vault is;opened, the customer is found and rushed to the hospital due to lack of oxygen;in the vault. The bank customer ultimately recovers from his injuries, but has;medical bills and has been traumatized too. He now sues the bank (and probably;will win) pursuant to what legal theory?;a.;Negligence;b.;False;Imprisonment;c.;Intentional;Tort;d.;Breach of;Warranty;0.5 points;Question 18;Allie, an adult, is injured while using a very sharp kitchen knife manufactured;by Fearless Cutting to prepare a dinner. The knife is manufactured according to;Fearless' product standards. There is an adequate handle for the knife, a;sheath to enclose the knife, but no warning on the box, sheath, or knife itself;that the knife is very sharp. Allie sues Fearless pursuant to the doctrine of;strict liability, contending that the knife is a defective product. The likely;result of such a lawsuit would be;a.;Fearless;loses since it is deemed to be an insurer of an ultra-hazardous product which;caused harm to a consumer.;b.;Fearless;loses since there was no warning on the product that the knife was sharp and;could cut.;c.;Fearless;loses since the knife was a flawed product.;d.;Allie;loses since the product was not defective and a reasonable person should have;been aware of the risk of being cut by a knife.;Question;14;Samir, a;legal resident of the U.S., applies for a job position with an employer as a;word processor. The position requires that a person type into Word documents;various old books, many of which have "fine" print, so that they;can be converted into electronic editions. Which of the following is NOT a;violation of U.S. civil rights laws?;a.;Samir;does not get the job because he is dark-skinned.;b.;Samir;does not get the job because he is from Pakistan.;c.;Samir;does not get the job because his eyesight is very, very poor and not;sufficiently correctable.;d.;Samir;does not get the job because he is a Muslim.;0.5 points;Question;15;A-One;Products Corporation and Best Manufacturing, Inc., enter into a contract for;a sale of goods that does not include a price term. In a suit between A-One;and Best over this contract and the price, a court will;determine;a reasonable price.;impose;the lowest market price for the goods.;refuse;to enforce the agreement.;return;the parties to the positions they held before the contract.;Question;11;Metro;Transport asks for bids on a construction project. Metro estimates that the;cost will be $200,000. Most bids are about $200,000, but A&B;Construction bids $150,000. In adding a column of figures, A&B;mistakenly omitted a $50,000 item. Because Metro had reason to know of the;mistake;A&B;can avoid the contract because Metro knew or should have known of the;errors.;A&B;can avoid the contract because the errors were the result of negligence.;Metro;can enforce the contract because the errors were unilateral.;Metro;can enforce the contract because the errors were material.;0.5;points;Question;12;The;legislature of the state of Florida approves casino gambling in Florida;but just in three locations in southeast Florida, and with the significant;limitation that the casinos will not be allowed to advertise in any Florida;media. The legislature wants to protect the people living in the state from;being bombarded and seduced by continuous, sleek, sexy, and seductive;casino ads and consequently gambling their life-savings away. The casino industry;contends that the ban on advertising is unconstitutional. The likely result;of the constitutional challenge will be;a.;The;state of Florida wins since it had the best interests of the people in;the state "at heart" since the legislature was trying to;protect people from the "vice" of gambling.;b.;The;casino industry wins since the advertising is clearly "political;speech" and Florida does not have a "compelling government;interest" in restricting the speech.;c.;The;casino industry wins if the advertising is truthful and not deceptive and;not aimed at minors since the advertising is protected "commercial;speech.;d.;The;casino industry wins since advertising is speech and the First Amendment;to the Constitution absolutely protects all kinds of speech and;expression;Question;2;The;District of Columbia sues several big gun manufacturers contending that;the guns they sell in large quantities legally in Virginia often;illegally find their way into the District where they are used to commit;crimes and to injure residents of the district as well as the criminals.;The District wants to recover its public hospital expenses from the gun;manufacturers and accordingly sues them for the tort of negligence. The;likely result of this lawsuit will be;The;District will win since guns are very dangerous products for which the;gun manufacturers are absolutely liable for.;The;District will win if the residents who are shot by the guns do not have;health insurance.;The;District will lose if it cannot establish a factual and proximate;causation connection between the original sale of the guns and the harm;to the District residents.;The;District will lose since Virginia is a state and the District is not a;state.
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