15) In order to satisfy the Statute of Frauds sufficiency of writing requirement, generally a writing must:
Be a formal, written, sealed document.
Be any written memorandum containing the essential terms of the parties' agreement.
Be signed by the party against whom enforcement is sought.
B and C.
16)The U.S. Constitution takes precedence over
a provision in a state constitution or statute only.
a state supreme court decision only.
a state constitution, statute, and court decision.
none of the above.
17)Digital Company plans to consolidate with Software Corporation
to form DS, Inc. This requires the approval of
neither their boards of directors nor their shareholders
their boards and their shareholders.
their boards only.
their shareholders only.
18)Which of the following is true?
Voting trusts and voting agreements both require the transfer of stock certificates to a trustee.
In a voting trust, the shareholder grants
the trustee the right to vote the shares, but in a voting agreement the shareholders vote their own shares.
Voting agreements, but not voting trusts, must be accompanied by proxies executed by the shareholders.
Voting trusts are irrevocable, while voting agreements can be either revocable or irrevocable.
Which of the following is true about punitive damages?
They are generally not available for breach of contract
They are awarded only if consequential damages are also awarded.
They are awarded where specific performance is not available.
Their purpose is to give the nonbreaching party the benefit of the bargain.
19)A plaintiff in a fraud case must prove the following except:
False statement of a material fact.
Intent to Deceive.
Discovery of the falsehood within a reasonable time.
20)An assignment of personal services is
Permitted with all the parties’ consent
Is never permitted