web services, inc. | Business & Finance homework help

Question 1

Vicky is a shareholder in Web Services, Inc. Vicky could typically exercise appraisal rights if Web was involved in

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a consolidation only.

a merger only.

a consolidation or a merger.

neither a consolidation nor a merger.
0.5 points 
Question 2

A transaction in which two corporations combine such that afterwards only one of them still exists and owns all the assets previously owned by either corporation is best called a:

Merger.

Consolidation.

Purchase of assets.

Share exchange.
0.5 points 
Question 3

Even an employee at-will can sue for wrongful discharge when he or she:
a.
Is discharged in violation of Title VII of the Civil Rights Act.
b.
Is discharged in violation of the Public Policy doctrine.
c.
Is negligently discharged by the employer.
d.
All of the above.
0.5 points 
Question 4

X Business Corporation markets its products in three states. Under the Constitution’s commerce clause, Congress can regulate

any and all commercial activity in the United States.

only commercial activities that are in interstate commerce.

only commercial activities that are local.

only activities that have nothing to do with commerce.
0.5 points 
Question 5

Which of the following is not a correct statement concerning the reasons sufficient to give a court power to dissolve a partnership?

A partnership may be dissolved if one of the partners is declared physically disabled or mentally incompetent.

A partnership may be dissolved because a partner is shown to be not adequately performing his or her part of the partnership contract.

A partnership may be dissolved if the business can only be carried on with substantial continuing losses.

A partnership may be dissolved if one of the partners commits misconduct or gross negligence or materially breaches the partnership agreement.
0.5 points 
Question 6

A promoter’s preincorporation contract:

binds only the promoter unless adopted by the corporation.

binds both the promoter and the corporation.

binds only the corporation.

binds neither the promoter nor the corporation if rejected by the corporation.
0.5 points 
Question 7

Where the principal makes representations to a third party about the role that an agent is to play, which kind of authority usually arises?

Apparent authority.

Authority by ethics.

Inherent authority.

Implied authority.
0.5 points 
Question 8

Standard Company and Tom wish to enter into an agency relationship for the purpose of buying computers for Standard’s offices. The relationship requires as a general rule:

a written agreement and consideration

a written agreement only

consideration only

neither a written agreement nor consideration

Question 17

 

 

A bank representative closes the bank vault at night before going home. Unknown to the bank representative, a customer was inside auditing his safe deposit box with the permission of a bank teller. Everyone goes home and the bank representative carelessly forgets to look inside the vault before closing it. The bank vault is closed; and the customer is locked inside for 24 hours. When the vault is opened, the customer is found and rushed to the hospital due to lack of oxygen in the vault. The bank customer ultimately recovers from his injuries, but has medical bills and has been traumatized too. He now sues the bank (and probably will win) pursuant to what legal theory?

a.

 

Negligence

b.

 

False Imprisonment

c.

 

Intentional Tort

d.

 

Breach of Warranty

 

 

 

0.5 points

 

 

Question 18

 


Allie, an adult, is injured while using a very sharp kitchen knife manufactured by Fearless Cutting to prepare a dinner. The knife is manufactured according to Fearless’ product standards. There is an adequate handle for the knife, a sheath to enclose the knife, but no warning on the box, sheath, or knife itself that the knife is very sharp. Allie sues Fearless pursuant to the doctrine of strict liability, contending that the knife is a defective product. The likely result of such a lawsuit would be:

a.

 

Fearless loses since it is deemed to be an insurer of an ultra-hazardous product which caused harm to a consumer.

b.

 

Fearless loses since there was no warning on the product that the knife was sharp and could cut.

c.

 

Fearless loses since the knife was a flawed product.

d.

 

Allie loses since the product was not defective and a reasonable person should have been aware of the risk of being cut by a knife.

 

 

Question 14

 

 

 

Samir, a legal resident of the U.S., applies for a job position with an employer as a word processor. The position requires that a person type into Word documents various old books, many of which have “fine” print, so that they can be converted into electronic editions. Which of the following is NOT a violation of U.S. civil rights laws?

a.

 

Samir does not get the job because he is dark-skinned.

b.

 

Samir does not get the job because he is from Pakistan.

c.

 

Samir does not get the job because his eyesight is very, very poor and not sufficiently correctable.

d.

 

Samir does not get the job because he is a Muslim.

 

 

 

0.5 points

 

 

Question 15

 

 

 

A-One Products Corporation and Best Manufacturing, Inc., enter into a contract for a sale of goods that does not include a price term. In a suit between A-One and Best over this contract and the price, a court will

determine a reasonable price.

 

impose the lowest market price for the goods.

 

refuse to enforce the agreement.

 

return the parties to the positions they held before the contract.

 

 

Question 11

 

 

 

Metro Transport asks for bids on a construction project. Metro estimates that the cost will be $200,000. Most bids are about $200,000, but A&B Construction bids $150,000. In adding a column of figures, A&B mistakenly omitted a $50,000 item. Because Metro had reason to know of the mistake

 

A&B can avoid the contract because Metro knew or should have known of the errors.

 

A&B can avoid the contract because the errors were the result of negligence.

 

Metro can enforce the contract because the errors were unilateral.

 

Metro can enforce the contract because the errors were material.

 

 

 

0.5 points

 

 

Question 12

 

 

 

The legislature of the state of Florida approves casino gambling in Florida, but just in three locations in southeast Florida, and with the significant limitation that the casinos will not be allowed to advertise in any Florida media. The legislature wants to protect the people living in the state from being bombarded and seduced by continuous, sleek, sexy, and seductive casino ads and consequently gambling their life-savings away. The casino industry contends that the ban on advertising is unconstitutional. The likely result of the constitutional challenge will be:

a.

 

The state of Florida wins since it had the best interests of the people in the state “at heart” since the legislature was trying to protect people from the “vice” of gambling.

b.

 

The casino industry wins since the advertising is clearly “political speech” and Florida does not have a “compelling government interest” in restricting the speech.

c.

 

The casino industry wins if the advertising is truthful and not deceptive and not aimed at minors since the advertising is protected “commercial speech.”

d.

 

The casino industry wins since advertising is speech and the First Amendment to the Constitution absolutely protects all kinds of speech and expression

 

Question 2

 

 

 

The District of Columbia sues several big gun manufacturers contending that the guns they sell in large quantities legally in Virginia often illegally find their way into the District where they are used to commit crimes and to injure residents of the district as well as the criminals. The District wants to recover its public hospital expenses from the gun manufacturers and accordingly sues them for the tort of negligence. The likely result of this lawsuit will be:

The District will win since guns are very dangerous products for which the gun manufacturers are absolutely liable for.

 

The District will win if the residents who are shot by the guns do not have health insurance.

 

The District will lose if it cannot establish a factual and proximate causation connection between the original sale of the guns and the harm to the District residents.

 

The District will lose since Virginia is a state and the District is not a state.

 

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