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Business Law

When an Offeree Rejects the Offerer

If an offeree gives a rejection to the offerer, which of the following is true at this point? a. the offeree is still able to accept the original offer until its original offer's expiration time b. the offeree can now transfer the rejected offer to a different party who becomes the new offeree c. the offeree has lost the

Transfer Warranties

When a person transfers a negotiable instrument, to whom does this transferor make transfer warranties? a. only parties to whom the transferor makes a written assertion in connection with the transfer b. for all transfers, to the immediate transferee and all subsequent transferees c. for all transfers, to the immediate t

Artisan's and Mechanic's Liens

Which of the following is not generally true about artisan's and mechanic's liens? a. there must have been authorization from the owner of the goods for the work done on them. b. they apply where one provides materials or services with respect to goods. c. Artisan's and mechanic's liens are super-priority liens given pri

Business Law Multiple Choice Questions

1) Which of the following statements is false? A) Notice must be given for directors meetings B) The solicitation of proxies is governed by the Securities and Exchange Commission C) Shareholders may vote by proxy D) Notice must be given for shareholder meetings E) Directors may vote by proxy 2) The statute that covers th

Article 9 of the UCC

Under Article 9 of the UCC, " protecting of the buyers of goods" means that: a. a buyer in the ordianry course of business takes free of any security interest b. the buyer can never take title to goods c. goods must be delivered to a common carrier in order for title to pass d. buyers can return nonconforming goods

Holders and Negotiable Instruments

In order to become a holder in due course, one must take a negotiable instrument without notice of the following except: a. that the instrument is overdue b. that there is a defense against it c. that the instrument was signed by an agent d. that the instrument has been dishonored e. that there was a claim to it by a

Notice of Fact in Due Course

Which of the following would constitute "notice" of a fact for the holder in due course purpose? a. actual knowledge of the fact b. having reason to know from facts and circumstances of the fact c. having received notice or notification of the fact d. A, B, and C e. A and B only

Postdated check: Liability and presentment

What steps must a drawer take in order to make a bank liable for paying a postdated check? 1. write the check with a date at some point in the future 2. notify the drawee bank about the the postdated check with a reasonably certain description of the check. 3. the actions in choices A and B are both required. 4. The actions in c

Negotiation Types and Endorsement

Negotiation of which types of instrument requires endorsement? 1. Bearer instruments only 2. Order instruments only 3. Both bearer and order instruments 4. neither bearer nor order instruments

Agency Relationship: liability and third party

In an agency relationship involving a principal, an agent and a third party, whether or not the agency relationship has been disclosed to the third party is a crucial issue. This would affect: a. the contract liability of the principal to the third party for a tort of the agent b. the tort liability of the agent to the third

Jenkle Legal Services - Calculate after-tax cash flow

In his first year as a partner with Jenkle Legal Services, Mr. Fallon received a $2,000 monthly guaranteed payment. His share of Jenkle's ordinary business income was $55,000. If his combined income and SE tax rate on his earned income is 30 percent, compute his after-tax cash flow from Jenkle assuming the following: a. In ad

Corporate governance/Board of Directors

I was reading an article: Strengthening corporate governance through board-level consultants. There are some companies under attack for issues of board composition and board activism. Board composition concerns address the mix of internal versus external directors and the competence of board members. The activism address

Why should the auditor consult with the entity's legal counsel?

When an auditor becomes aware of information concerning a possible illegal act, he or she should obtain an understanding of the circumstances of the act by making inquires of management above those involved. Also, the auditor should obtain enough evidence to judge the effect of the act on the financial statements. If evidenc

State and Local Political Behavior Observation

I need help conducting a minimum one-hour observation of a public meeting. The meeting can be of a committee, commission, council, etc. I have to take notes during the observation, including what issues were covered, and what positions are taken on them. This can also be done by observing a meeting on government access televisi

Advice on Whether to Renew a Contract

What would you do? A colleague of yours is on an annual contract which is soon due to be renewed. During your time of working together you have become close friends with him on a personal level and you are aware that his wife has recently become pregnant with their second child. However, while he tries hard and means well,

Employment Law: Allie's vision and Acme Airlines

Allie is a licensed pilot who is nearsighted. She has 20/20 (perfect) vision when she wears her contact lenses. Without her contact lenses, she cannot read or drive, but with her contact lenses, she is able to engage in these activities. Acme Airlines has a requirement that its pilots have 20/20 uncorrected vision. Allie applies

Federal Laws and Statues for Licensing Attorneys

Are there any Federal laws or statues that would prevent a law firm from expanding throughout the U.S.? Are there any constitutional clauses that could possibly affect expansion? If so, what would these be?

Business Law on Computer Purchases

Watson buys a computer from a computer store, paying by check. The check then bounces. In the meantime, Watson has transferred the computer to Wilson. Under what conditions will Wilson prevail against the store if the store tries to recover the computer from him?

Distributive Justice Theory and other in 17 multiple choice questions

1) Peter runs an auto air conditioning repair shop, because of the phase-out of the ozone-depleting refrigerants used in older auto air conditioners, auto air repairers have become subject to numerous new laws and regulation, some of which are costly and burdensome with which to comply. Although it cost him more, Peter decides

Moral Judgments, Moral beliefs and Logical Rules

We've been having some trouble figuring out how we arrive at moral judgments. Cultural Relativism, Supernaturalism, Intuitionism, Rationalism. all seem to have their good points, but also their undermining bad points. Then what do you say to picking out our moral principles by trying to be informed and imaginative, and t

Jan's Sandwich Shop: Non-Compete Agreements

Jan opens a sandwich shop across the street from a sandwich shop run by Amy. Amy is disturbed by this competition, and she agrees to pay Jan $5000, in exchange for Jan's promise to quit her business and not to engage in a similar business within a ten-mile radius of Amy's business. Is this contract legal and enforceable? Why or

Possible harassment by a division director.

Dottie, a manager, has been referred to you by a mutual friend to discuss a "situation" she has encountered. Her division director has insisted she take car rides with him for "meetings" to discuss department business. Sometimes these "meetings" last an hour or longer and make her feel very uncomfortable. Dottie says she is tell

Abortion Laws and Policies: analyze three current events articles

I need help in locating at least three current events articles that address the same local or state government public policy issue on abortion . The articles can be from daily newspapers, weekly news magazines, public policy journals, or business journals. Complete a paper that analyzes the issues in the article regarding ab

A & M Records, Inc. v Napster, Inc.,

In A & M Records, Inc. v Napster, Inc., the Ninth Circuit Court of Appeal determined that Napster, Inc.'s MusicShare software which allowed users to make MP3 music files stored on individual computer hard drives available for copying, search, and transfer by other Napster users, did not result in "fair use" of the copyrighted ma

Business Expense Law Questions

True or False 1. The basic elements of a valid contract are: an offer, an acceptance, consideration, the capacity of the parties to contract and a legal purpose. 2. The law requiring that certain contracts, such as contracts involving an interest in land, be in writing is the Statute of Limitations. 3. A Sole Propr