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business
essentials business law
Business Law 5th Edition Robert W. Emerson J.D. - Solutions
What is the basis of a seller’s contractual liability for defective goods?How can sellers protect themselves from this liability?
Name four defenses to negligence that are not defenses to crimes.
Name nine crimes that may subject the culprit to tort liability for conversion.
Name two crimes without tort equivalents.
In a negligence case, a jury decides that plaintiff C suffered $250,000 damages and assesses the blame for C’s injuries at 60% for C and 40%for defendant. How much would the plaintiffs damages award be (a)under contributory negligence; (b) under comparative negligence?
True orfalse-. If A does not disclose every problem he has had with a machine that he is selling to B, then B will probably win a suit against A for fraud. Explain your answer.
Compare the law of crimes and torts with respect to burdens of proof, damages, consent, sources of the law, and types of acts required for guilt or liability.
List some white-collar crimes.
Name (a) six intentional torts involving interference with the person, and (b) four concerning interference with property.
Distinguish between intent and motive.
Name the basic elements needed to prove negligence.
How is intent transferable?
Name two methods by which crimes can be classified.
(a) What are the rules of evidence intended to do?(b) What effect may U.S. Constitutional guarantees have on the introduction of evidence?
Discuss the levels of evidence necessary at each of the four phases of criminal procedure: investigation, arrest, lodging of charges, and trial.
What are the key guarantees for criminal defendants under the U.S.Constitution?
In Problem 2, suppose that Sawyer wishes to form a corporation in Kentucky (where the golf course is situated) and sell the capital stock, all as described, to the present members, under Kentucky’s blue sky law, which has essentially the same registration and prospectus requirements as the
Sawyer is the owner of a large, unincorporated country estate on which is located an established golf course. Approximately 100 persons regularly play golf on the course, paying semiannual dues for the privilege.Sawyer needs to raise $1 million to build a club house and put the course in
ABC Gulf Investment Co. owns 1000 acres of gulf-front property in Manatee County, Florida. It flies 35 persons of “substantial” means from various parts of the country to Tampa to tell them.of the “opportunity of a lifetime.” The “opportunity” is the offer of a contract with ABC to buy
Is a professional malpractice case merely a “swearing contest” between two sets of professional “experts,” with one set claiming that the defendant’s professional work did not conform to the standard of care, the other set claiming that the work did conform?
Why should accountants receive special attention for civil and criminal liability under the securities laws?
Is the term “insider” limited to a defined group?
What is the underlying rationale for various exemptions to the federal securities laws?
Does allowance by the SEC of a statutory prospectus constitute SEC approval ofthe securities described or of the prospectus?
Why are the common law rules of fraud and misrepresentation insufficient to protect investors from unscrupulous'securities salespersons? In any case, does the modern day rule of caveat venditor (“let the seller beware”) not afford the gullible investor sufficient legal protection?
Which came first, state or federal regulation of the issuance and marketing ofsecurities?
What are some reasons' for restricting the free transfer of share certificates?
What evidence does the corporate issuer have of uncertified ownership ofshares?
Under what theory of contract law can creditors sue subscribers to the stock of a corporation not yet formed? Does this violate the privity rule?
What is a nimble dividend? What general dividend requirement does a nimble dividend violate?
In what sense may shareholders influence the directors’ decision to declare a dividend?
In what three ways do common shareholders have an interest in the corporation?
What is the principal difference between a bond and a debenture?
What are some advantages and disadvantages of raising corporate capital by equity financing vis-a-vis debt financing?
MM Corporation has received an order of the state department of health to cease the discharge of acid into the waters of the state. The board of directors has before it the proposal of a management team to spend over $50 million for capital equipment that will correct the effluent discharge. The
The vice president of corporation AB, a jewelry company, attends an auction at the direction ofthe corporation. She is directed to bid up to$100,000 for the Omega diamond. The bidding reaches $125,000, and the vice president then buys the diamond for her own account for$126,000. Is this action
You own about 1% of the outstanding stock of XY corporation. A number of shareholders believe that the management is paying a grossly exorbitant salary to Ms. X, secretary to the president of the company and believed to be his mistress. Ms. X and the president are known to take trips to Europe and
What is one relatively effective and inexpensive way to cause a corporation to be dissolved?
Why should a vice president of a corporation also be a member of the board of directors?
Do shareholders have the right to compel the board to declare a dividend?
Can the president of a corporation conduct a telephone poll of the members of the board of directors and use the result of that poll as the basis of a board decision?
Why can a shareholder attend a shareholders’ meeting by proxy, but a director must attend in person?
What is cumulative voting?
How can you determine the necessity of attending a special meeting of shareholders?
What advice should be given to someone who strongly objects to the consolidation of a corporation in which he owns a stock interest with another corporation?
Why are the directors of a corporation having assets of over $100 million not required to submit to their shareholders a proposed merger with a corporation having assets of less than $1 million?
Should a charitable donation be considered, in all cases, a corporate gift subject to the approval ofshareholders?
Can a majority shareholder, acting alone, dismiss an officer of the corporation?
Good Times Candy Company, an Illinois corporation, is a large manufacturer and distributor of confections and candies in the Midwest. It has never qualified or registered in the state of Iowa as a foreign corporation, although it has passed through Iowa in the course of making sales in other
Snyder wishes to create a corporation under the name “First National Liquor Stores, Inc.” Should this name be permitted as a good corporate name over the objection of First National Food Stores, Inc.?
In 1990, Soper and his two adult sons, Sam and Steve, created a corporation, Soper and Sons Electrical Company. During the first year or so, they maintained corporate bank accounts, had the name printed on trucks and stationery, and held annual stockholders’ meetings. After the elder Soper died
Doctors Hacksaw, Smith, and Spurgeon operate a general medical practice as a professional corporation, known as HSS, P.C. While performing a tonsillectomy on one Samuels, Hacksaw is allegedly negligent, as a result of which Samuels is left partly paralyzed. Each of the doctors is quite wealthy, but
Why is it necessary that a foreign corporation “do business” within a state in order to be subject to the registration requirements of that state?
Why is the common law doctrine of ultra vires not as important to the modern corporation as it was in earlier times?
What is the underlying philosophy in requiring stockholders to approve a corporate gift? Why have many states found it necessary to relax this philosophy?
What is meant by the phrase “misleadingly similar to” in establishing a corporate name?
Why should the charter be a “lean” document’
What is the meaning of the expression “pierce the corporate veil”? Is this a “moral” as well as a legal principle?
What is meant by corporate “double taxation”? Explain several ways in which double taxation may be avoided.
Discuss the ways in which a public utility is a public corporation and the ways in which it is a private corporation.
Why is it possible for corporations to function with little or no policing and supervision by the state?
Is there any reason why a democratic society would be more likely to foster the corporate form of business than a totalitarian society?Discuss.
List some ways in which a corporation is treated as a person and some ways in which it is not treated as a person.
On ■ February 1, E sells her partnership interest to Bank E. On March 1, G is added as a new general partner; he has made no capital contribution.On April 1, D dies. Assets and liabilities are as follows:January 1 to February 14 $95,000 in assets, and no liabilities February 15 and thereafter
There are six partners in a LP: general partners A, B, C, and D, and limited partners E and F. Under the LP agreement, E and F are each entitled to 20% of the profits. E and F each contributed $20,000. A, B, C, and D are each entitled to 15% of the profits, each having contributed $2,500 and also
Mary has the time and expertise to put into a new bakery, but little money. Sally has a substantial sum of money to invest, but no interest in the day-to-day operations. What type of business organization would you recommend?
John wants to control a business completely, knows nobody else with whom he wishes to work, and dislikes formalities, paperwork, and lawyers. What type of business organization would he probably prefer?
Federal and state statutes, as well as court cases, have sought to furnish additional disclosures from whom (franchisors or franchisees) and protection from unfair creation and termination offranchises for whom(franchisors or franchisees)?
State three customary provisions in a franchise agreement.
Between general partners, limited partners, and creditors, state the basic order of distribution of assets for a LP and for a GP.
Name up to five reasons why a supposedly limited partner may be held generally liable for partnership obligations.
Name the three methods of dissolution of a partnership.
Name three ways in which a partnership is a legal entity.
Name the four bases for binding a partnership to a contract between third persons and a partner.
List some duties and rights of partners.
What actions generally require the partners’ unanimous consent’
To what three factors do courts look for evidence of an implied partnership?
Name 16 typical provisions in a partnership agreement.
Compare these types with respect to manner of creation, formality, governmental regulation, ownership, transfer of ownership, legal entity, agency, division of labor, owner’s liability, access to specialists, payment of personal debts, management, profits, changes in business formation documents,
What are the three basic types of business organization?
Pollutant Company operates a large manufacturing facility in FactoryCity, Anywhere. Stuart Smedley, its plant manager, has caused sulfuric acid from the manufacturing operations to be dumped into an adjacent river for years. Is Pollutant (a) criminally liable for this violation of the environmental
Seedy Apartments employed Melvin Malefactor as a painter for theinterior of its apartments in Kansas City. Unknown to Seedy, Melvin had been convicted of assault 3 years previously and of indecent exposure 17 years ago. Seedy checked Melvin’s references and found that he was an excellent painter
Jim Mason, a janitor at the Celestial Trade Center in Dallas, Texas,ordered 500 cartons of paper products from MX Toilet Supply Company. Celestial Trade Center duly paid the invoice rendered for this merchandise. A year later, Jim ordered 1000 cartons of goods from the same supplier. Celestial
XYZ Oil Company, a corporation that owned and operated a numberof gasoline filling stations in northern California, hired Tom’s Tank Company to dig up and replace underground tanks at one of its stations in San Francisco. While this work was being done, Cora Endicott, a customer, fell into the
What does the expression “partially disclosed principal” mean?
When can the hirer of an independent contractor be liable for the contractor’s tort?
Explain the difference between the principal’s direct and indirect liability for his/her agent’s torts.
Why do lawyers and judges say that an agent may be “clothed” with apparent authority?
Does insanity ofthe principal make a power of attorney void?
What is meant by “commingling” offunds?
How does the term alter ego play a part in the agency relation?
Can a person further his/her own goals and objectives while acting for a principal?
Give examples of obligations that cannot be delegated to an agent.
Why is an independent contractor usually not an agent’
Is the agency relationship always created by contract’
How does an attorney in fact differ from an attomey-at-law?
What is the difference between an employee and an agent’
Why would corporations be unable to function without agency law?
(a) Mary has a perfected security interest in Nancy’s inventory of 100 widgets. Nancy regularly sells widgets, and soon sells 8 widgets to Opal. Opal knows about Mary’s security interest, but knows nothing that would indicate the sale to her violates that security interest. If Nancy defaults,
Joe, for money lent to Kay, receives a signed agreement stating a security interest and describing the collateral (Kay’s accounts receivable).Kay already has a judgment against her in favor of A. She also already owes money to B, although no collateral or security interest is in effect.After Joe
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