SHORT ANSWER Explain the basic requirements that must be met for a contract to be enforceable.

1. Explain the doctrine of equity with reference to contracts.

1. Compare valid, void, voidable, and unenforceable contracts.

1. Give an account of the express terms that are parts of an offer.

1. Describe the infancy doctrine with reference to legal contracts.

1. How is a mistake different from fraud?

1. Explain undue influence with an example.

1. How are contract words and terms interpreted?

1. Explain assignment of rights.

1. List and briefly explain the advantages and disadvantages of a sole proprietorship.

1. Compare and contrast publicly held and closely held corporations.

1. What is the supramajority voting requirement for shareholders?

1. Give an account of the directors' and corporate officers' duty of care toward the corporation.

1. Describe the doctrine of piercing the corporate veil.

1. What is a proxy? State the federal rules that govern a proxy statement.

1. Distinguish between a merger and a share exchange.

1. Explain the process that exempts members of an LLC from double taxation.

1. Explain the four basic types of franchises in brief.

1. Explain the process of copyright registration.

1. Give an account of trademark dilution.

1. "Workers' compensation is an exclusive remedy." Elaborate on this statement with the help of an example.

1. What is an EB-1 visa?Who qualifies for it?

1. Briefly outline and explain the process of collective bargaining.

1. How does a company sell its shares to the public for the first time?Explain the contents of a registration statement.

1. Distinguish between nonissuer exemption, intrastate offering exemption, and private placement exemption.

1. What is insider trading? How is it regulated in the United States?

1. Describe the Food, Drug, and Cosmetic Act.

1. Describe the purpose and requirements of an environmental impact statement (EIS).

1. Explain the nature and enforcement of the national ambient air quality standards (NAAQS).