14) An easement can be defined as
A. a limited right to use another person's land for a specified purpose
B. a relaxation of the borderlines between two parcels of land
C. a life estate in the property of another
D. an option to purchase the land of another
15) Huey, Dewey, and Louie own a building as tenants in common. Huey lives in the building. Without consulting the other two owners, Dewey deeds his interest in the building to Joe. What will be the outcome of this situation?
A. Huey, Louie, and now Joe will own the property as tenants in common.
B. Huey and Louie will still own the property as tenants in common, but Joe will have a reversionary interest.
C. The transfer of the interest to Joe will be ineffective because the other two did not consent.
D. Joe will make Huey pay rent.
16) Which of the following best describes the benefits of a limited liability company (LLC)?
A. LLC managers are not personally liable for debts, obligations, and liabilities of the LLC.
B. LLCs have limited duration.
C. Documents do not have to be filed with the state to create an LLC.
D. LLCs are automatically taxed like corporations.
17) Which of the following is true when a general partnership is converted to an LLC?
A. The property must be sold to a third party who then immediately sells it to the LLC.
B. The conversion can be made retroactive for up to 2 years.
C. The profit and loss sharing terms must remain the same as they were in the partnership.
D. The general partners will retain unlimited personal liability for obligations incurred while the business was a partnership.
1href="http://www.justanswer.com/general/5i1dz-1-form-alternative-dispute-resolution-wherein.html) In the Northeast Ethanol, LLC case, the court pierced the defendant's corporate veil after determining that
A. the plaintiffs could not find financing to build the ethanol plant
B. the defendant's shareholder used the corporation to perpetrate fraud
C. the ethanol plant was an unwise investment, against the best interest of the parties
D. the plaintiff's corporate directors were engaging in ultra vires activities
19) Which comment best describes the alter-ego doctrine in corporate law?
A. A corporation automatically becomes the alter ego of its shareholders
B. The president is the sole decision maker of a corporation
C. The board of directors is the alter ego of a corporation
D. Protection from personal shareholder liability can be forfeited if corporate formalities are not observed
20) If a corporation is properly incorporated in one state and wants authority to do business in second state, the corporation typically must
A. re-incorporate in the second state
B. do nothing because being incorporated in one state automatically entitles the corporation to do business in all states
C. register with the Interstate Commerce Commission as an alien corporation
D. obtain a certificate of authority from the second state
21) The DEF Corporation is incorporated in Texas. It wishes to do business in Oklahoma. Before DEF can legally do businesses in Oklahoma, which of the following must it do?
A. Nothing; DEF automatically has constitutional rights to do business in Oklahoma.
B. DEF must incorporate in Oklahoma.
C. DEF must qualify (register) to do business in Oklahoma.
D. DEF must domicile itself in Oklahoma.
22) What types of business can be converted to an LLC?
A. General partnerships only
B. General partnerships and limited partnerships only
C. Corporations and limited partnerships only
D. Corporations, general partnerships, and limited partnerships
23) Which of the following best describes the status of the employment at-will doctrine in the United States today?
A. It applies in most states to most employment relationships, but there are many exceptions that limit its application.
B. It applies more today than in the last century, and the quantity of corporate layoffs is evidence of this.
C. It today applies only to the employer, although in the past it applied to both the employee and employer.
D. It still applies today, but only to employees who are expressly told that they are an at-will employee when they are hired.
24) Which of the following rejected applicants may have a valid claim for discriminatory hiring practices?
A. A public health service did not hire a registered nurse because his shaking hands prevented him from administering injections.
B. A Catholic school did not hire a teacher because he was not Catholic.
C. A trucking company did not hire a truck driver because she was pregnant.
D. A university did not hire a 22-year-old woman to be a director of faculty because she was too young.
25) Which of the following people is protected from employment discrimination on the basis of age?
A. A 90-year-old person who wants a job as an airline pilot
B. A 50-year-old person who wants a job as an accountant
C. A 30-year-old person who wants a job as a waitress
D. A 10-year-old person who wants a job as a bartender
26) Marie works as a receptionist for a plumbing company. She works from 9 a.m. to 6 p.m. Monday through Friday. She earns $12 per hour, and is told how to do her job and what she should be working on at any particular time. Her boss does not withhold any taxes from her paycheck. Which of the following is true?
A. Marie would be treated as an employee because she is paid for the work that she does.
B. Marie would be treated as an employee because of the control exercised by the plumbing company over her work.
C. Marie would be treated as an independent contractor because she is paid hourly.
D. Marie would be treated as an independent contractor because the employer doesn't take any taxes out of her check.
27) Company employee handbooks have been found in some cases to amount to a(n) ______________ exception to the employment at will doctrine.
C. public policy
D. implied contract
2href="http://www.justanswer.com/general/5i1dz-1-form-alternative-dispute-resolution-wherein.html) Which of the following is a correct statement of the requirements for a Bona Fide Occupational Qualification (BFOQ)?
A. The occupational qualification is job-related and cost-effective.
B. The occupational qualification is job-related and nondiscriminatory.
C. The occupational qualification is job-related and is a business necessity.
D. The occupational qualification is rationally based and evenly applied.
29) What federal legal protection is there with respect to trade secrets?
A. Trade secrets are protected under the federal patent laws.
B. Trade secrets are protected under the federal copyright laws.
C. Trade secrets are protected under the Trade Secret Protection Act of 1952.
D. Trade secrets are protected under the Economic Espionage Act of 1996.
30) Which of the following is true about misappropriation of trade secrets?
A. Although it is not necessary that the trade secret be patented, the secret must be such that it could be patented.
B. Trade secrets are always protected regardless of the actions of the trade secret owner.
C. The plaintiff can recover damages from theft of a trade secret only if the defendant acquired the trade secret through unlawful means.
D. Injunctions are generally not available to protect trade secrets.