An ________ investor is one who has experience, business savvy, and knowledge of the
market to the extent that the law imputes a certain cognizance of investment risk and
the ability to protect his or her own interests.
Gus owes a lot of money to his creditors. Recently one of the creditors turned over
Gus’s account to a collection agency. The agency continually calls Gus to try to recover
the debt he owes. It has started calling him at work several times a day. May the
collection agency do this?
A contract is a promise or set of promises __________ by law.
What constitutes a meeting of the minds for antitrust laws? Why is it important?
The procedure for collecting additional capital contributions from partners as necessary
is called a _______.
A factory has a permit to emit pollution at a specified level under the Clean Air Act. As
part of upgrading its facilities, what must the factory do? What might be its concern?
How does a secured creditor establish his or her rights to the collateral securing a
first-priority position?
___________ is the element of a contract that requires a bargained-for exchange of
goods and/or services that are recognized as valuable.
Under the Revised Uniform Partnership Act, the act of leaving a partnership and
ceasing to be a principal is called _______.
Tina’s dog has run away. She places reward posters throughout the neighborhood and
places an ad in the local newspaper. Ted, her good friend, sees Tina’s dog wandering
and takes the dog back to Tina’s house without ever seeing a poster or the newspaper
advertisement. After he leaves her home, he then sees a reward poster. If he returns and
demands the reward, is Tina obligated to pay?
After the plaintiff has proved his or her prima facie case of disparate treatment, if the
employer provides a false reason for its discriminatory actions, this is called a
_______.
Congress has provided the state of Ohio $50 million for highway construction and
renovation. As a condition, Ohio must award 30 percent of the contracts to firms that
are owned by women or minorities. Ohio sues, claiming that such a condition is an
intrusion on Ohio’s right to seek competitive bids and make the best use of the money.
Ohio also asserts that this condition will make it difficult to seek the best-quality
companies and that how it allocates the money is purely a state function as long as it
uses the money for the purposes intended. How will the court likely decide this
dispute?
Business entities are sometimes referred to as business _______.
Vertical price-fixing occurs when a seller attempts to control the resale price at a
_______ in the supply chain.
Owners of nonvoting stock who receive a share of the corporate profits have received
what is called a _______.
Store management may detain a suspected shoplifter without liability for false
imprisonment based on the concept of ______.