Question 1The Federal Trade Commission (FTC) issues an

How many questions did you recieve?

Good morning. I need them as soon as possible.Question 12Which of the following is true about the Uniform Commercial Code and the common law of contracts?
The common law generally takes precedence over the Uniform Commercial Code.
A primary purpose of the Uniform Commercial Code is to eliminate the differences from state to state which exist under the common law of contracts.
The Uniform Commercial Code applies to a contract only if the parties explicitly state so in their contract.
The adoption of the Uniform Commercial Code has eliminated the need for common law in the area of contract law.
Question 13Under Rule 10b-5, if a non-insider (the tippee) receives material nonpublic information from an insider (the tipper), the tippee usually:
May use it to make a profit by buying or selling that company’s stock, only if the tipper voluntarily disclosed the nonpublic information.
Must disclose that information.
Must either abstain from trading in that company's stock or disclose the information to the person he is trading with.
Question 17Which corporate law doctrines are designed to give the shareholders some indirect control of the corporation?
a.
Voting for the board of directors
b.
Cumulative voting
c.
Voting trusts and pooling agreements
d.
All of the above.
Question 19The Foreign Corrupt Practices Act prevents each of the following except:
Bribes to foreign officials.
Bribes to foreign political party officials.
Bribes to candidates for office in foreign nations.
Bribes to foreign officials if the payment is legal under the written laws of the nation in which it was made.Question 20What is true about a partner's right to participate in the management of the partnership?
It exists only if the partner has been elected as an officer or management committee member.
It exists only if the partnership agreement gives the partner this right.
It exists automatically, but can be eliminated in the partnership agreement.
It exists automatically and cannot be eliminated in the partnership agreement.Question 21Which of the following is a false statement?
In a limited partnership, the liability of the limited partner generally is limited to the amount of capital he or she has invested in the partnership.
In most states, limited liability partnerships are available to all types of business people.
In winding up a general partnership, creditors are paid before partners receive their capital contributions.
A partnership technically legally “dissolves” when a partner ceases to be associated with the carrying on of partnership business.Question 22Which 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.
Question 23Which of the following is a correct statement?
One of the requirements for a suit based on strict liability in the U.S. is a failure to exercise due care.
The doctrine of strict liability applies only to abnormally dangerous activities, such as construction blasting with explosives, but not to products and goods manufactured and sold to consumers since manufacturing is not normally ultra-hazardous.
To succeed in a products liability lawsuit based on common law negligence, the injured plaintiff must prove that there was a failure to exercise due care by the manufacturer or seller of the product.
One essential requirement for a products liability lawsuit based on strict liability is clear and convincing evidence of a failure to exercise reasonable care.Question 24Which 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.Question 25What, functionally, is the relationship between partners?
A partner is an agent of his or her fellow partners, who are his or her principals.
A partner is a principal of his or her fellow partners, who are his or her agents.
Both a and b
Neither a nor bQuestion 26B bets C on the outcome of the SuperBowl. Gambling on sports events is illegal in their state. This wagering agreement is
not enforceable unless there is an admission as to its existence
voidable by the losing party
valid if the bet was a fair one with proper “odds”
void.Question 27Which of the following statements is false regarding the liability of partners?
Each partner is jointly and severally liable on all contracts made by or on behalf of the partnership.
Each partner is jointly and severally liable for all physical torts committed by a copartner in the course of partnership business.
Each partner is jointly and severally liable for frauds committed by a copartner in the course of partnership business, even though he or she does not know of or participate in the fraud.
Where there is joint and several liability, an action may be brought against any one or more of the partners or the partnership.
Question 28Under a typical state corporation merger statute:
mergers ordinarily require the approval of two-thirds of the shareholders of both corporations.
so-called "short mergers" of a 90% owned subsidiary into the parent corporation are permitted without shareholder approval or dissenters' right of appraisal.
the shareholders of the disappearing corporation are not entitled to vote if the shares to be issued to them constitute less than 20% of the outstanding shares of the surviving corporation.
Dissenting shareholders are entitled to appraisal rights.Question 29In which of the following are the partnership events listed in the correct order of occurrence?
Winding up, dissolution, termination.
Dissolution, termination, winding up.
Dissolution, winding up, termination.
Termination, dissolution, winding up.
Question 34Agents can bind principals:
a.
If they have actual authority.
b.
If they have implied authority.
c.
If they have apparent authority.
d.
All of the above.
Question 36Absent any agreement to the contrary, who is liable for the debts of a limited liability company?
Members personally
Managers personally
Both the members and the managers
None of the above
Question 37Which of the following would not be a misappropriation of a trade secret?
Paying an engineer who is working at a competitor to disclose the trade secret to you.
Buying the competitor's product, then tearing it apart and analyzing it in your laboratory to reveal how the product works.
Hiring a spy to break into a competitor's offices to acquire the secret.
Asking one of your current engineers to disclose a trade secret of her former employer and she does so.
Question 38What third party cannot sue to enforce rights in the original contract?
a.
A third party creditor beneficiary
b.
A third party done beneficiary
c.
A third party incidental beneficiary
d.
An assignee.

Good morning. I have a deadline of tonight 10:30.

To Greg.3 of the 10 questions were incorrect.