Researchers who study happiness find that people expect material goods to make them
happier than they actually do.
Define and discuss the purposes of the “business judgment rule.”
There are three major sources of air pollution: coal-burning utility plants, factories, and
motor vehicles.
One of the more secure methods of perfection is taking possession of the collateral.
Contracts for the sale of fabric, automobiles, computers, furniture, and paper clips
would all be governed by Article 2 of the Uniform Commercial Code.
An assignment is effective against the obligor from the moment it is made, regardless of
whether the assignor notifies the obligor.
Individual debtors are allowed to keep some assets in a Chapter 7 bankruptcy.
U.S. Supreme Court justices serve for a nine year period.
When promissory estoppel is used by the courts, it is because there is NOT an
enforceable contract present.
The Sherman Act was designed to prevent extreme concentrations of economic power.
Douros Realty & Construction Co. had a lead on a “prime” piece of real estate.
Although Douros did not have a listing agreement with the seller of the property, he
contacted Kelley Properties. Douros knew that Kelley was looking for a location for a
commercial development. Douros contacted Kelley stating only that he had the “finest,
most outstanding, viable location in the county and it just came on the market.” Douros
said he would reveal the location of the property and the owner’s name if Kelley would
sign an agreement which would require Kelley to pay a 10% commission if a sale of the
property resulted. The agreement was signed. Four months later, Kelley bought the
property after negotiating the deal himself. Kelley claims he does not owe a
commission to Douros because there was insufficient consideration to support the
payment of commission so large. Kelley claims that all Douros did in the entire
transaction was to reveal the location of the property and the owner’s name. Was there
sufficient consideration to make this promise enforceable?
A corporation must have a registered agent within the state of incorporation only if the
corporation maintains an office in that state.
Whistleblower are employees who disclose illegal behavior on the part of their
employers.
A person always has an insurable interest in his own life.
Researchers have found that the EIS process generally does not have a beneficial
impact on the environment.
To verify transactions, accountants use two mirror-image processes: vouching and
tracing. Tracing is a process where the accountant begins with an item of original data
and checks out all the activity that has occurred from beginning to end to make sure it
has been properly recorded throughout the bookkeeping process.
Under corporate law, a corporation that officially states its purpose is “to engage in any
lawful activity for which corporations may be organized under the General Corporation
Law of Idaho” is too broad. A corporation’s purpose must be more narrowly defined.
Common stock is last stock in line for any corporate payouts, including dividends and
liquidation payments.