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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;0.5 points;Question 17;A bank representative closes the bank vault at night before going home.;Unknown to thebank 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;1.;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;2.;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;1.;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.Question 38;Under the UCC, firm offers can be made;Orally or in writing by merchants.;Orally or in writing by merchants, but only in writing by nonmerchants.;In writing by either merchants or nonmerchants.;In writing by merchants.;0.5 points;Question 39;Which of the following is the most accurate statement?;A sole proprietorship is a separate legal entity for U.S. tax purposes and thus;the entity must file its own tax return.;A franchise is an association of members comparable to a partnership organized;to provide an information sharing exchange among the members about economic;issues.;Franchisors that firmly set and fix the prices at which the franchisees can;resell products or perform services may violate antitrust laws.;A franchisor can always establish an additional franchisee in a territory;allotted to a franchisee if the franchisee agreement is silent as to;exclusivity of the territory.;0.5 points;Question 40;The sales provisions of Article 2 of the UCC apply to;Neither merchants nor nonmerchants.;Nonmerchants, but not to merchants.;Merchants, but not nonmerchants.;Both merchants and nonmerchants.;Question 30;The major disadvantage of a sole proprietorship is;The difficulty and cost of formation.;The unlimited liability for the business's debts.;The sharing of management authority with others.;The difficulty in transferring ownership to others.;0.5 points;Question 31;Common law consists of;Laws which all nations have in common.;Laws which affect everyone, including ordinary persons.;Rulings and opinions which have been issued by judges when deciding previous;cases.;Laws which more people are aware of.;Question 11;A contract that one party may avoid without being in breach is;Void;Valid;Voidable;Executory;0.5 points;Question 12;Under the UCC, between merchants, if a purported acceptance contains additional;terms, there is an acceptance, and;The additional terms are not part of the contract.;The additional terms are part of the contract.;The additional terms do not become part of the contract if they materially alter;the contract.;There is no contract.;0.5 points;Question 13;Which of the following is FALSE regarding lawsuits pursuant to Title VII of the;Civil Rights Act?;a.;An employer can be liable for discrimination pursuant to Title VII based on the;disparate impact" theory even if there is no evidence of intentional;discrimination.;b.;Language discrimination based on an English-only policy can be grounds for a;national origin discrimination lawsuit if the employer does not have a;legitimate business reason for requiring its employees to speak English.;c.;Discriminating against applicants for employment based on their appearance;because they are not sufficiently attractive, pretty, or handsome is as a;general rule a Title VII violation since the non-attractive are discriminated;against.;d.;Sexual stereotyping of women based on stereotypical notions of appropriate;female behavior by male managers is a violation of Title VII.

 

Paper#53079 | Written in 18-Jul-2015

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