Archives: Quiz
Business Law Chapter 40 2 in which of the following does an aggressor pay cash to target shareholders
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 28. (p. 884) Which of the following was the result on appeal in Royal Crown Companies Inc., v. McMahon , […]
Business Law Chapter 40 1 meaning that contracts are construed in accordance with standard criteria for contract
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 875) Today, consolidations are very rare. TRUE Today, consolidations are very rare. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: […]
Business Law Chapter 39 3 how many votes will the minority shareholders have in the election
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 48. (p. 865) Which of the following gives preference to shareholders to purchase shares of a new issue of stock? […]
Business Law Chapter 39 2 under the revised model business corporation act, how long do proxies
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 30. (p. 854) Which of the following owns a corporation? A. Directors B. Officers C. Shareholders D. Affiliates E. The […]
Business Law Chapter 39 1 whether a corporation engaged in a “squeeze-out” as to a minority shareholder
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 863) A stock subscription agreement signed before incorporation may obligate a person to purchase shares in the corporation. […]
Business Law Chapter 38 3 owners of which of the following types of stock enjoy preferences
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 50. (p. 846) Owners of which of the following types of stock enjoy preferences with respect to assets and dividends? […]
Business Law Chapter 38 2 which of the following is another name for debt securities
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 32. (p. 842) Which of the following is a corporation that has not substantially met the requirements of the state […]
Business Law Chapter 38 1 who had appointed an agent for service of process there but had done
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 834) A corporation must be dissolved if over 50% of the shareholders die. FALSE If shareholders die, corporations […]
Business Law Chapter 37 3 limited partnerships are also known as which of the following
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 45. (p. 824) Limited partnerships are also known as which of the following? A. General partnerships B. Limited liability partnerships […]
Business Law Chapter 37 2 what does the term “full dissolution” of a partnership mean in Spain
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 26. (p. 820) What does the term “full dissolution” of a partnership mean in Spain? A. That the partnership ends […]
Business Law Chapter 37 1 that does not specify the objective or duration of the partnership
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 814) Before a partnership may be terminated, the partnership must experience the winding–up stage, but not the dissolution […]
Business Law Chapter 36 3 what is the written agreement creating the partnership entered into
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 46. (p. 804) Which of the following is true if a partner commits a tort within the scope of his […]
Business Law Chapter 36 2 when the articles of partnership are silent, which of the following
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 26. (p. 802) Which of the following does the duty of obedience that one partner owes to another reference? A. […]
Business Law Chapter 36 1 if no partnership agreement exists, which of the following generally
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 796) No partnership is created based upon an employer sharing profits with an employee as payment for work. […]
Business Law Chapter 35 3 agreement between at least one general partner and at least one limited partner
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 48. (p. 780) Which of the following would likely be formed by farmers who want to pool certain crops together […]
Business Law Chapter 35 2 the Mexican limited liability company is derived from the model in which
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 29. (p. 777) Which of the following offers tax advantages of a partnership and liability advantages similar to a corporation, […]
Business Law Chapter 35 1 a person who decides to go into business on his or her own without
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 772) A sole proprietor is considered a separate legal entity. FALSE The sole proprietorship is not considered a […]
Business Law Chapter 34 3 the employer has the right to recover from the employee any damages
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 46. (p. 763) Which of the following is false regarding revocation of the authority of an agent and renunciation by […]
Business Law Chapter 34 2 whether an act committed by an employee occurred within the course
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 26. (p. 754) Which of the following is true regarding liability of a principal if a contract an agent makes […]
Business Law Chapter 34 1 employee’s significant deviation from the employer’s business is often
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 752) When making decisions about an agency relationship’s liability to third parties, courts must first identify whether property […]
Business Law Chapter 33 3 in non-contractual relationships, which of the following may the agent
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 47. (p. 743) A ______ trust is an equitable trust imposed on one who wrongfully obtains or holds legal right […]
Business Law Chapter 33 2 which of the following is the term used to describe the duty and responsibilities
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 27. (p. 728) As set forth in the text, which of the following is false regarding agency law in relation […]
Business Law Chapter 33 1 which of the following types of agency occurs when a principal leads a third
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 728) Agency law is primarily federal law. FALSE Agency law is primarily state law. AACSB: Analytic Accessibility: Keyboard […]
Business Law Chapter 32 3 what is the status of the exemption she claimed on the residence
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 48. (p. 720) Which of the following is false regarding Chapter 13 of the bankruptcy code? A. Chapter 13 permits […]
Business Law Chapter 32 2 which of the following are permitted to file under chapter 11 reorganization
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 29. (p. 706) By filing a[n] ______ petition under Chapter 7, creditors can attempt to force a debtor into bankruptcy. […]
Business Law Chapter 32 1 which of the following is considered a debtor eligible for chapter 7 relief
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 702) The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 included only minor changes to bankruptcy law. […]
Business Law Chapter 31 3 what is the most likely reason that the judge refused to allow the sheriff
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 49. (p. 685) Assuming the court follows the reasoning of Bates County Redi-Mix Inc. v. Windler discussed in the text, […]
Business Law Chapter 31 1 whether monthly proceeds from a reverse mortgage were subject to garnishment
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 684) Creating a mechanic’s lien on property automatically ensures that the contractor who filed the lien will receive […]
Business Law Chapter 31 2 what is the amount of the homestead exemption
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 31. (p. 688) Which of the following exemptions permits a debtor to retain all or a portion of the family […]
Business Law Chapter 30 3 how long does a debtor have in which to object to a secured party’s
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 46. (p. 672) Which of the following is true regarding the definition of default under the UCC? A. The UCC […]
Business Law Chapter 30 2 which of the following is a term used to identify a person
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 28. (p. 665) Which of the following is true regarding a security interest in consumer goods? A. A financing statement […]
Business Law Chapter 30 1 whether the security interest was automatically perfected as an interest in
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 660) Collateral is the property that is subject to a security interest. TRUE Collateral is the property that […]
Business Law Chapter 29 3 if a customer’s ATM card is lost or stolen, the customer must notify
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 51. (p. 650) If a customer’s ATM card is lost or stolen, the customer must notify the bank within _____ […]
Business Law Chapter 29 2 when the depositary bank is the same bank as the payor bank
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 30. (p. 637) Which of the following is a bank, other than a payor bank, handling the check at any […]
Business Law Chapter 29 1 which of the following is the party ordered to pay on a draft
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 630) According to the UCC, a check is a special kind of draft. TRUE According to the UCC, […]
Business Law Chapter 28 1 the type of liability that occurs based on a person signing a negotiable
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 605) According to the UCC, a signature can be any name, word, mark, or symbol used by a […]
Business Law Chapter 28 2 violet has authority to act on behalf of and bind Robert
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 36. (p. 611) Violet has authority to act on behalf of and bind Robert. Which of the following legal term […]
Business Law Chapter 27 1 Helen worked for ABC company as the company treasurer. she took 20
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 583) In Russia a transaction involving a promissory note is a legitimate documentary transaction. TRUE In March 1997, […]
Business Law Chapter 27 3 would the school be able to require that Susan cover the amount
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. AACSB: Analytic Accessibility: Keyboard Navigation Blooms: Understand Difficulty: 3 Hard Learning Objective: 27-03 What requirements must be met to obtain […]
Business Law Chapter 27 2 which of the following is an example of a restrictive endorsement
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 33. (p. 586) Which of the following is not an example of a restrictive endorsement? A. The endorsement for deposit […]
Business Law Chapter 26 3 for an instrument to be negotiable, the instrument must indicate that
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 48. (p. 574) For an instrument to be negotiable, the instrument must indicate that it was created for the purpose […]
Business Law Chapter 26 2 documents used as payments to facilitate commercial transactions were labeled
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 26. (p. 564) Documents used as payments to facilitate commercial transactions were labeled as ______ under article 3 of the […]
Business Law Chapter 26 1 Suzanne arranged with ABC bank for a revolving line of credit up to
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 564) A currency or cash substitution is a relatively new development in the law arising in the 20th […]
Business Law Chapter 24 3 when a buyer justifiably revokes acceptance of goods, the measure of direct
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 47. (p. 540–541) Which of the following is true regarding whether usage of trade may impose a remedy in the […]
Business Law Chapter 24 2 when may a lessor reclaim goods when a lessee in possession of the goods
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 27. (p. 535) Under UCC 2A-525(2) when may a lessor reclaim goods when a lessee in possession of the goods […]
Business Law Chapter 24 1 which of the following was the result on appeal in Detroit radiant products company
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 531) The UCC adopts several common law principles. TRUE The UCC adopts several common law principles. AACSB: Analytic […]
Business Law Chapter 23 3 when may a buyer revoke acceptance if a nonconformity substantially
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 46. (p. 521–522) Which of the following is true under the UCC regarding the right of a seller or lessor […]
Business Law Chapter 23 2 in reference to the case in the text Dejesus v cat auto tech. corp.
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 28. (p. 517) Under sections of the UCC, sellers and lessors have the right to ______ or fix problems with […]
Business Law Chapter 23 1 acquiesced to without objection is relevant to determine what the parties’
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 1. (p. 515) Conforming goods are goods that conform to UCC specifications. FALSE Conforming goods are goods that conform to […]
Business Law Chapter 22 3 purchases a couch from good furniture store to use in her home
Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. 46. (p. 505) Which of the following are types of conditional contracts? A. Sale-on-approval contracts, but not sale–or-return or condition-or-sale […]