Question: Can someone please check if these question below is correct please? I'm unsure about the choices I made and it would be a great help
Can someone please check if these question below is correct please? I'm unsure about the choices I made and it would be a great help if someone could help me understand why the answer I chose is wrong or re-ensure me that my understanding of the concept if the question was right.
2. CIRCLE ALL AGENCY RELATIONSHIP(S) BELOW: (may be more than one answer) a. Real-estate broker/company and homeowner (seller) b. 50 Cent (the rap singer) and his Business Manager c. Bill the Farmer and Sam the Bull Expert (to go buy him a new bull) d. Employee and employer. e. You pay a lawyer $5000.00 dollars to help you get a divorce. f. Paying customer at Disney World and Walt Disney Corporation. 3. Jerry forgets his Business Law text-book at the Brandt Hall Snack Bar. A Snack Bar employee, Elaine, finds the book and posts a note on the student bulletin board that says: Business Law Text Book For Sale, $20. Based on these facts, which of the following statements are TRUE? (may be more than one answer). a. If Elaine sells the book, she can keep the money from the sale.
b. Kramer, who works with Karen at the Snack Bar knows Elaine found the book. Kramer can demand that Elaine hand over half the money from selling the book under the equal dignity (aka co-employees) rule.
c. Jerry lost the book and all the ownership rights that go with it.
d. The book is misplaced.
e. A and C are both correct.
f. A and B are both correct.
4. Quitclaim deeds are often used for which of the following situations: (one answer only)
a. To prevent creditor from seizing a car or other property of a debtor (i.e. pre-Chapter 13). b. To deal with a divorce situation (i.e. to end tenancy by the entireties). c. When a child needs to purchase land but is not yet 18 (or 21 in New York). d. Quitclaim deeds are not legal (invalid) in Virginia. e. When a business needs to sell land (but not land with buildings).
5. Garnishment is: (one answer)
a. car repossession (not legal in all states) b. holding someone elses property as collateral to ensure repayment. c. embellishment or decoration on prepared food. d. required for all surety bonding contracts. e. Court order requiring employer to deduct money from employee paycheck to pay third party. f. none of the above is correct
6. When you drop your car off at Midas Muffler Repair Shop to get a repair, Midas now has: (one answer)
a. Possessory Lien. b. Revocable trust c. Non-possessory lien. d. Franchise. e. A non-traditional Henweigh f. Limited Partnership
9. Type of land ownership in which each spouse owns 100% of the land is called: (one answer) a. Tenancy in Common. b. Tenants at Will c. Fee Simple Absolute d. Tenancy by the Entireties. e. Absolute Tenancy
f. Springing (or shifting) executory interest.
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
