How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Brent Blanchard Your Own Question
Brent Blanchard
Brent Blanchard, Attorney
Category: Business Law
Satisfied Customers: 1975
Experience:  Thirteen years of business law experience, from business formation to litigation
Type Your Business Law Question Here...
Brent Blanchard is online now
A new question is answered every 9 seconds

Question 20 The term LLP refers to a. The establishment

Customer Question

Question 20
The term LLP refers to
a. The establishment of a limited liability partnership.
b. A professional services firm set up as a partnership but protecting the partners from personal liability for firm debts.
c. A firm that does not exist as a tax entity separate from its owners.
d. All of the above.
Question 21
Flo-Thru Corporation is poised to issue securities that, under the Securities Act of 1933, are “exempt.” This means that the securities can be sold
a. without being registered.
b. on the basis of a material omission or misrepresentation.
c. on the basis of nonpublic information.
d. within any 6-month period by certain insiders.
Question 22
Rita is a surety for Stu’s loan from Total Finance Company. Rita’s right to “step into the shoes” of Total Finance, after paying Stu’s debt, and exercise any of Total Finance’s rights against Stu is the right of
a. Reimbursement
b. Subrogation
c. Contribution
d. Redemption
Question 23
Julie signs a check payable to the order of Kwik-Mart Stores, Inc., that does not include a date. This check is
a. Negotiable.
b. Nonnegotiable, because it does not include a date.
c. Nonnegotiable, because it is signed by Julie.
d. Nonnegotiable, because it is payable to Kwik-Mart.
Question 24
Joey, in good faith and for value, gets from Kit a negotiable bearer instrument. Joey does not know that Kit stole the instrument. Joey is
a. Not an HDC because Kit did not acquire the instrument for value.
b. Not an HDC because Kit did not acquire the instrument in good faith.
c. Not an HDC because the instrument is a bearer instrument.
d. An HDC (holder in due course)
Question 25
To acquire the ownership of a mountain cabin by adverse possession, Cody must occupy the cabin exclusively, continuously, and peaceably for a specified period of time
a. Without the owner’s knowledge.
b. Until the owner files a suit.
c. With the state’s permission.
d. In an open hostile, and adverse manner.
Question 26
Bryan organized, and owns and operates, Bryan’s Heating and Air Conditioning Service in the simplest form of business organization. This is
a. A partnership.
b. A limited liability company.
c. A franchise.
d. A sole proprietorship.
question 27
Clearwater Irrigation Systems, Inc. employs Daphne as an agent. During the agency, Daphne acquires new skills. After termination of the relationship, Daphne uses those skills in a new job. Daphne has breached

a. the duty of performance.
b. the duty of loyalty.
c. the duty of notification.
d. no duty.
Question 28
Kit, manager of Long-Term Care Company’s office in Metro City, decides to replace the office’s male employees with females. Nia, an assistant manager transferred from a different Long-Term Care office, refuses to cooperate. Kit retaliates against Nia, who quits. Within a year, the male employees also quit. Liability for Kit’s conduct most likely rests with
a. Long-Term Care male employees, who should have acted themselves.
b. no one, because no law was violated.
c. Long-Term Care, which should have known, and Kit, who acted.
d. Nia, who did not cooperate.
Question 29
Rikki writes a check “pay to the order of Scholar University” drawn on Rikki’s account in Town Bank to pay her tuition. Rikki is

a. The drawer.
b. The payee.
c. The certifier.
d. The drawee.
Submitted: 6 years ago.
Category: Business Law
Expert:  Brent Blanchard replied 6 years ago.
I just saw your question a minute ago.

It's a lot to ask for the price offered, but I'll give it a go.

20. a.
21. a.
22. a.
23. a.
24. d.
25. d.
26. d.
27. d.
28. c.
29. a.

Thank you.