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Category: Business Law
Satisfied Customers: 36505
Experience:  25 years of experience helping people like you.
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30)Which of the following is the most accurate statement? Answer A

Resolved Question:

30)Which of the following is the most accurate statement?
Answer
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.
31)The Statute of Frauds requires that certain types of contracts:
Answer
Be in writing in order to be valid.
Be in writing in order to be enforceable.
Contain a promise for an act.
Have two or more attorneys present at the signing of a written contract.
32)The sales provisions of Article 2 of the UCC apply to:
Answer
Neither merchants nor nonmerchants.
Nonmerchants, but not to merchants.
Merchants, but not nonmerchants.
Both merchants and nonmerchants.
33)Which of the following is a true statement?
Answer
An invitation to negotiate usually will be construed as constituting an offer to enter into a contract.
Under the common law, an offer ordinarily does not need to be communicated to the offeree to be effective.
An agreement under the common law of contracts usually consists of an offer and an acceptance.
In most states in the U.S., the revocation of a contract is not legally effective until it is actually received by the offeree.

34)An oral contract in which Sally agrees to work for Jane for the rest of Jane's life is:
A guaranty contract.
Unenforceable under the Statue of Frauds because it cannot possibly be performed within one year.
Enforceable under the Statute of Frauds.
A and C only.

35)Which of the following is not an essential element of a partnership relationship?
Answer
An association of two or more persons who are capable of entering into a binding contract
The carrying on of a business for profit
Co-ownership of the business
A mutual intention to be partners

36)Unless the amendment is one the board may adopt without shareholder action, amendment of the articles of incorporation:
Answer
may affect such provisions as would be lawful and proper at the time the amendment is adopted.
must be approved by a majority of the votes entitled to be cast on the amendment by any voting group with respect to which the amendment would create dissenters' rights.
must be approved by the votes required of every other voting group entitled to vote on the amendment
All of the above
37).Which of the following is a correct statement?

Only a plaintiff in a lawsuit can file a motion for judgment on the pleadings in the U.S. civil law system.
When a forum-selection or choice-of-law clause is included in an international contract, legal proceedings are more complex, attended by more uncertainty, and much more difficult.
Payments to foreign government officials are always illegal since bribery is a serious moral wrong.
International law is a body of law that in part governs relations among nations.

38)What is the significance of a "defect" in a products liability case based on strict liability?
Answer
It is not necessary, but can be used to eliminate the need to prove that there was an injury.
It is a required element in the proof of such a case.
Its presence would eliminate liability for the defendant.
The party who caused the defect is the only one who can be held liable.

39)What is a derivative lawsuit?
Answer
An action brought by the board of directors on behalf of the corporation.
An action brought by a majority of the board of directors against an individual board member.
An action brought by a shareholder or shareholders on behalf of the corporation when the board of directors does not file the suit.
An action brought by shareholders against the corporation.

40)Which of the following is a false statement?

A franchisor can impose certain quality standards on a franchisee.
Some business forms and organizations in the U.S. offer limited liability to their owners and investors.
Many states in the U.S. now permit business persons to operate as a limited liability company (LLC).
No capital can be raised through an offering of stock in the U.S. without the principals first registering the shares with the Securities and Exchange Commission and obtaining the agency’s approval.
Submitted: 2 years ago.
Category: Business Law
Expert:  FiveStarLaw replied 2 years ago.
Thank you for your new questions. I will respond in about 10 min.
Customer: replied 2 years ago.
22)Martha is a minority shareholder in the ABC Corporation. Which method of voting would give Martha the best chance to elect someone to the board of directors?
Answer
Cumulative.
Noncumulative.
Proxy.
Supermajority.

23)Which of the following is a false statement?

Answer
If a contract for the sale of goods does not include a price term, it nonetheless may still be enforceable pursuant to the Uniform Commercial Code.
If a contract for the sales of goods does not include the exact terms for payment, it normally will be unenforceable since it is impermissibly vague.
When an offer for the sale of goods does not specify a means of acceptance, the offer usually can be accepted by any manner reasonable under the circumstances.
A warranty is an assurance by the buyer to the seller that he or she will pay valid and good consideration for a product.

24)Under Article II of the UCC a seller may not

Withhold delivery
Seize the good back on his or her own
Stop delivery in transit
Sell the goods
25)Who is protected under the Age Discrimination in Employment Act?
Answer
All workers who are age 40 or over.
All workers of any age who are discriminated against because they are thought to be too old.
All workers who are in a job in which they were 40 years of age or over when hired.
Any worker who is replaced with a younger worker

26)The Parol Evidence Rule prohibits oral testimony that
Answer
Shows failure of consideration
Explains ambiguities
Shows fraud
Varies the terms of an existing and complete written contract
28)Which of the following is a false statement?
Answer
U.S. child labor laws provide that children aged 12-14 may engage in sales work outside school hours if their parents consent and if no heavy lifting is involved.
Both men and women can sue for sexual harassment in the United States.
Whistleblowing by employees in the private sector can now be a legally protected activity pursuant to some states' laws in the United States.
A deceptive advertisement is one that is either false or misleading pursuant to the U.S. Federal Trade Commission's legal standards.
29)In a general partnership, the partners own partnership property:
Answer
as joint tenants.
as tenants in partnership
tenants in common
according only to their shares of the partnership profits.
Customer: replied 2 years ago.
I really need 2 to 30 If u can do the rest I aprecciate that but what I really need are 22-30
Expert:  FiveStarLaw replied 2 years ago.
30)Which of the following is the most accurate statement?
Answer

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.

31)The Statute of Frauds requires that certain types of contracts:
Answer

Be in writing in order to be enforceable.


32)The sales provisions of Article 2 of the UCC apply to:
Answer
Both merchants and nonmerchants

33)Which of the following is a true statement?
Answer


An agreement under the common law of contracts usually consists of an offer and an acceptance.


34)An oral contract in which Sally agrees to work for Jane for the rest of Jane's life is:
.
Enforceable under the Statute of Frauds.


35)Which of the following is not an essential element of a partnership relationship?
Answer

Co-ownership of the business


36)Unless the amendment is one the board may adopt without shareholder action, amendment of the articles of incorporation:
Answer
may affect such provisions as would be lawful and proper at the time the amendment is adopted.

All of the above


37).Which of the following is a correct statement?

When a forum-selection or choice-of-law clause is included in an international contract, legal proceedings are more complex, attended by more uncertainty, and much more difficult.


38)What is the significance of a "defect" in a products liability case based on strict liability?
Answer
It is a required element in the proof of such a case.
I

39)What is a derivative lawsuit?
Answer

An action brought by shareholders against the corporation.

40)Which of the following is a false statement?

No capital can be raised through an offering of stock in the U.S. without the principals first registering the shares with the Securities and Exchange Commission and obtaining the agency’s approval.
Expert:  FiveStarLaw replied 2 years ago.
I just saw your post when I posted the other answers. I will answer them now
FiveStarLaw, Attorney
Category: Business Law
Satisfied Customers: 36505
Experience: 25 years of experience helping people like you.
FiveStarLaw and 8 other Business Law Specialists are ready to help you
Expert:  FiveStarLaw replied 2 years ago.
22)Martha is a minority shareholder in the ABC Corporation. Which method of voting would give Martha the best chance to elect someone to the board of directors?
Answer
Cumulative.


23)Which of the following is a false statement?

Answer
If a contract for the sales of goods does not include the exact terms for payment, it normally will be unenforceable since it is impermissibly vague.

24)Under Article II of the UCC a seller may not

Stop delivery in transit



25)Who is protected under the Age Discrimination in Employment Act?
Answer
All workers who are age 40 or over.

26)The Parol Evidence Rule prohibits oral testimony that
Answer

Varies the terms of an existing and complete written contract



28)Which of the following is a false statement?
Answer -
U.S. child labor laws provide that children aged 12-14 may engage in sales work outside school hours if their parents consent and if no heavy lifting is involved.


29)In a general partnership, the partners own partnership property:
Answer

according only to their shares of the partnership profits.

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