Multiple Choice Questions for Business Law Test - 3665 Words

1. A shareholder in a professional corporation can be liable for malpractice arising from the rendering of professional services. (Points : 2) True False 2. Jay tells Kim that he will buy her textbook from the last semester for $80. Kim agrees. Jay and Kim have (Points : 2) an express contract. an implied-in-fact contract. an implied-in-law contract. a quasi contract. 3. Barb allows Candy to enter Barb s warehouse and take a DVD player. Charged with theft, Candy can successfully claim, as a defense, (Points : 2) consent. duress. entrapment. self-defense. 4. The U.S. Congress enacts a new federal statute that sets different standards for the liability†¦show more content†¦Alienation is a transfer of the ownership of land. (Points : 2) True False 17. Like the bylaws of other corporations, the bylaws of Retail Sales, Inc., (Points : 2) establish the operating name of the corporation. establish the value and classes of corporate stock. were adopted at its first organizational meeting. were submitted for approval to the public official in charge. 18. Specific performance is the remedy customarily used when there is no actual contract or agreement between two parties. (Points : 2) True False 19. An applicant cannot register a trademark on the basis of an intention to use the mark in commerce. (Points : 2) True False 20. Ethics is the branch of philosophy that focuses on what constitutes right and wrong behavior. (Points : 2) True False 21. Uri and Vicky orally agree on the sale of Uri’s Nite Club to Vicky and note terms on a pair of the Club’s napkins, which they both sign. A written memorandum evidencing an oral contract that would otherwise be unenforceable must contain (Points : 2) every term. the essential terms. the preliminary terms. the qualitative terms. 22. A business trust is somewhat similar to a corporation. (Points : 2) True False 23. Rescission is the substitution of one party to a contract for a third party, who agrees to assumeShow MoreRelatedApplication Of A Master s Course During Summer Session II788 Words   |  4 PagesDecember 2016. I will be taking one course during summer session II, two classes during Fall 1 and the last class during Fall session II. I plan to sit for the Auditing and attestation (AUD) portion of the CPA exam in February 2017, following the Business Environment Concept (BEC) in June 2017, the Regulation (REG) in September 2017 and the last portion of the exam Financial Accounting and Reporting (FAR) in December 2017. 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The author highlights the need of a unified