1. Crawford Inc. wants to acquire the assets of Toxic Waste,
Inc. But Toxic Waste won't...
1. Crawford Inc. wants to acquire the assets of Toxic Waste, Inc. But Toxic Waste won't sell. Toxic Waste is publicly held company with widely dispersed share ownership. What technique can Crawford use to accomplish its goal?
C. Takeover bid
2. Company A Inc., are merging. Which of the following statements regarding this merger is true?
A. Both companies will exist after the merger
B. One of the two companies will exist after the merger
D. Neither company will exist after the merger
19. Bob is the CEO of Realty, Inc. a company that purchases and develops property for shopping centers. Bob learns that certain real estate, which would be excellent for a shopping center, is about to go up for sale. Bob purchases the property himself without telling anyone at the corp. Bob has violated the
A. insider trading rule
B. corporate opportunity doctrine
C. fairness rule
4. Regan marries at age 17. Then she enters into a contract with Art to purchase an car for $10,000. She later changes her mind and wants to void the contract. Which of the following is true?
B. Regan can void the contract because she is married
C. Regan can't void the contract because she is over 15
D. Regan can't void the contract because she is married
7. Patty visits Big Grocery store and sees a table with bananas on it. Patty picks up a bunch of bananas, walks to checkout, and hands them to the cashier. This is
A. no contract
B. an implied in fact contract
C. an express contract
11. Natalie contracts with Paula to paint her house for $100. Paula pay Natalie, but Natalie has yet to paint. The contract is
B. executory as to Paula's duty
C. executory as to Natalie's duty
16. Carlos promises to pay $100 for someone to paint his house. Tim hears about the offer and paints Carlos's house onXXXXX However, Carlos intended that his other atXXXXX be the one to be painted and refuses to pay Tim, claiming that there's no contract because they never discussed which house would be painted. If Carlos has a legal right to payment its most likely based on
A. implied in fact contract
D. implied in law contract
1. Jessica orally agrees that she will sell 400 pairs of flip flops to a customer for $600. This agreement is
B. unenforceable because of the statute of frauds
C. unenforceable because all necessary elements aren't met.
D. unenforceable because of the parole evidence rule
8. Under tenant Lester's lease contract with Landlord Mary, Lester must pay an extra $25 of his rent is more than five days late. This is an examples of ___ damages.
6. Javier gives written authorization to Tamara to sell his house. Javier dies on Oct 4. On Oct 8, Tamara enters into a written contract on behalf of Javier to sell the house to Trudy for $100,000. Before Tamara entered into the contract, she showed the written authorization to Trudy. Javier's estate is
A. liable if the price is fair
B liable if Tamara knew Javier was deceased at the time of the contract
D. not liable
9. Sally works for Big Tech, Inc. One day, the boss calls her into his office and says, "Women just don't
get tech. You're fired." Sally sues. In the course of the litigation, the company discovers that Sally was
pilfering paper from the company storage, and under the employee handbook, this is grounds for
termination. Sally's discharge is
A. not wrongful because of gender is a bona fide job qualification for working in tech.
B. not wrongful because the employer discovered evidence that justifies the firing.
D. wrongful because evidence can't be used in a gender discrimination case.
13. Sal hires Antoinette to sell his house and gives her power of attorney that authorizes her to do, but the power of attorney says nothing about price. Sal tells Antoinette to take nothing less than $200,000. Harry offers Antoinette $195,000 for the house, and Antoinette accepts. If Sal is bound by the sale contract, the most likely reason is __________ authority.
14. Carl, a little person with dwarfism, applies for a job. He is told he won't be hired because he is a little person. Carl sues, claiming discrimination under the Civil Rights Act. Which of the following statements is true?
A. Carl has a good claim.
B. Carl has no claim.
D. Unless Carl can show that the height requirement has a disparate impact on short people, he has no claim.
16. State right-to-work laws prohibit
A. closed shops, but not union shops.
C. employees from forming labor unions and bargaining units.
D. agreements requiring union membership to get or keep a job.
18. Jane works for Big Business, Inc., as a sales representative. The boss decides to fire her because she isn't a Mets fan. The boss can
A. not fire Jane because of the Civil Rights Act of 1964.
C. fire Jane
D. not fire Jane if she agrees to become a Mets fan