The RMBCA provides that, absent a conflicting provision in the articles of
incorporation, directors may be removed:
a. with or without cause by a majority vote of the shareholders.
b. with cause by a majority vote of the shareholders, and without cause by a unanimous
vote.
c. with or without cause by a unanimous vote of the shareholders.
d. only with cause.
The Pregnancy Discrimination Act does not:
a. require employers to treat pregnancy as other disabilities are treated.
b. require women disabled by pregnancy to be provided with the same benefits as other
disabled workers.
c. require an employer to provide paid sick leave benefits to pregnant women if it does
not provide them to other disabled workers.
d. prevent termination because of pregnancy
Torts are classified as:
a. intentional only.
b. negligence only.
c. strict liability only.
d. intentional, negligence, and strict liability.
Which of the following is a preferential transfer?
a. a transaction for present consideration
b. a payment in the ordinary course of business
c. both a. and b. are preferential transfers
d. neither a. nor b. are preferential transfers
Federal supremacy refers to:
a. the power of the President.
b. the power of the Supreme Court to make decisions.
c. the power of the federal government to legislate in certain areas.
d. all of the above.
The theories of product liability
a. are mutually exclusive.
b. are not mutually exclusive.
c. are set forth exclusively in the UCC.
d. are set forth exclusively in the common law.
The answer to the complaint is filed by the:
a. defendant.
b. prosecutor .
c. plaintiff.
d. judge.
Members of a limited liability company share profits:
a. according to their status (general or limited) in the firm.
b. in proportion to their contribution of services.
c. in proportion to their capital contribution.
d. according to the terms of the operating agreement.
A prospectus sets forth:
a. the key information contained in the registration statement.
b. information on stocks approved by the SEC.
c. information that the SEC has not reviewed.
d. none of the above.
Louise Feldspar obtained the exclusive right to sell TastyCrunchy Chicken in a
specified area. Under the agreement, Feldspar was permitted to use the TastyCrunchy
name and logo for her restaurant and she agreed to comply with TastyCrunchy’s
restaurant requirements. She purchased her equipment, as well as the chicken she
served, from the firm. She agreed to devote a certain percentage of her revenues to
promoting the TastyCrunchy operation in local media. The operation was successful
from the start, and Feldspar has had no problem meeting the sales quotas imposed by
TastyCrunchy. The past year TastyCrunchy informed Feldspar that it intended to open a
new restaurant on an interstate highway that had just been completed in her exclusive
area of trade. Because her operation would be competition for the new store, Feldspar’s
right to sell TastyCrunchy products and use the name TastyCrunchy was revoked. What
can Louise do?
Barry and Eldridge owned Blueacre as tenants in common. Eldridge died. Blueacre is
owned:
a. solely by Barry because of the survivorship feature.
b. jointly by Barry and the state because of escheat.
c. by Barry and Eldridge’s heirs.
d. solely by Eldridge’s heirs.
When a debtor makes a payment to a creditor specifying how it should be applied, the
creditor must apply the payment:
a. as directed by the debtor.
b. to the oldest outstanding debt.
c. to the most recent outstanding debt.
d. to the largest outstanding debt.
In a consignment, the dealer-consignee is often referred to as a(n):
a. remainder.
b. factor.
c. quotient.
d. exponent.
Action taken by shareholders without holding a meeting is valid under the RMBCA if it
is evidenced by a written consent signed by all the shareholders entitled to vote on the
action.
Upon a seller’s tender of nonconforming goods and the buyer’s rejection of them, the
transaction has ended.
When a lease is assigned, the assignee becomes the sole obligor for rent payments, and
the original lessee is discharged from the lease.
A special indorsement consists of the signature of the indorser and the words
identifying the person to whom the indorser makes the instrument payable.
James Smith, a health inspector for the state of Missouri, inspected a restaurant owned
by Salley Slick. Smith found numerous health violations in the restaurant and fined
Slick accordingly. When Smith notified Slick of the infractions, Smith strongly
suggested that $5,000 “would sure prove handy in the Spring” when he planned to
purchase a new fishing boat. Slick understood Smith’s obvious hint and offered Smith
$5,000 if he would lose the paperwork concerning the failure of the restaurant to meet
proper inspection guidelines. Smith accepted the $5,000 and lost the paperwork. One
month later, Smith returned to the restaurant and told Slick that he would reappear
every month and find violations unless Slick produced $1,000 each month to go toward
the purchase of a fleet for Smith. Slick agreed to make the $1,000 payments. What
crimes have been committed by Smith and Slick?
The creditor first must proceed against the debtor before suing the surety.
Generally, the prevailing party in a lawsuit will be awarded the costs of the action,
including witness fees and jury fees.
Having a large percentage of the market is not necessarily a monopoly.