QUESTION 7

1. Pell is the agent and Astor is the principal in an agency coupled with interest. Who has the right to terminate the agency in an agency coupled with interest?

   		Pell
   		Astor
   		Both Pell and Astor.
   		Neither Pell nor Astor.

1 points

QUESTION 8

1. An accountants liability under the Securities Act of 1933 requires privity of contract with the purchaser of a security.

   True

   False

1 points

QUESTION 9

1. Bess wishes to appeal a decision of a bankruptcy court. Bess may appeal to

   		No Court
   		Federal District Court
   		The Supreme Court
   		The state Court

1 points

QUESTION 10

1. Article 2A of the UCC covers any transaction that creates a lease of goods or a sublease of goods.

   True

   False

1 points

QUESTION 11

1. The articles of incorporation serve as a primary source of authority for the corporations future organization and business functions.

   True

   False

1 points

QUESTION 12

1. Frost has an accountant and business manager to whom he has given implied authority. Under that authority, Frost's accountant and business manager has the authority to:

   		Obtain insurance on behalf of Frost.
   		Sell Frost's home .
   		Execute a Last Will and Testament on behalf of Frost.
   		All the above.

1 points

QUESTION 13

1. The right to petition for bankruptcy relief under federal law is an essential aspect of our capitalistic society.

   True

   False

1 points

QUESTION 14

1. Garden Field Farms and Haute Gourmet Restaurant, Inc., enter into a contract for a sale of lettuce. After Garden Field ships the lettuce but before Haute Gourmet receives it, the buyer declares bankruptcy. Garden Field can stop delivery of the goods in transit .

   		Only if the quality is deficient.
   		Only if the quantity exce