LAW 531 Final Exam Three Sets

 This pack of LAW 531 Final Exam Three Sets consists of:


 LAW-531 FINAL EXAM A. DONE.pdf

 LAW-531 FINAL EXAM B. DONE.pdf

 LAW-531 FINAL EXAM C. DONE.pdf

Law - General Law
 1) Which of the following is a distinguishing feature of a common law legal system?

 2) Which best describes the types of agency authority held by officers of a corporation?

 3) If an LLC fails to follow formalities such as keeping minutes of meetings, which of the following is true?

 4) Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true?

 5) Partners of a general partnership

 6) Which of the following forms of alternative dispute resolution allows both parties to see the strengths and weaknesses of both sides of the case through the presentation of evidence?

 7) A ___________ is a court-appointed party who conducts a private trial and renders a judgment.

 8) What is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another?

 9) Which of the following is true regarding mediation?

 10) There are no accountants on the board of the Oriole Corporation, a privately held corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPAТs report. In these circumstances, the board i

 11) Self-dealing by a director of a corporation can best be described as

 12) Which of the following is likely to be a breach of a corporate officerТs or directorТs duty of care?

 13) In what ways may officers and directors be protected by the corporation from liability for actions taken as an officer or director?

 14) If a plaintiff voluntarily participates in a risky activity that results in injury, what is the most likely defense to a claim that the plaintiff assumed the risk?

 15) Mark is the treasurer of Sky-Hi Tech Corporation and, as such, he is responsible for protecting the assets of the corporation. One of MarkТs subordinates, Jill, is in charge of reconciling the monthly corporate bank statements. Over a period of several months, Jill embezzled a large amount of money from Sky-Hi Tech, covering up the theft using her bank reconciliations. If Mark had adequately supervised Jill, she could not have embezzled this money. MarkТs actions (or inactions) constitute a breach of his duty of

 16) Barry buys a new sports car. The car sits low to the ground and because of the styling, visibility to the rear is limited. About a month after Barry buys the car, he backs over his pet poodle as he is leaving for work. In his strict liability suit against the car manufacturer, Barry will

 17) If a judge rules that a party lost its case because of the Statute of Frauds, the judge has essentially stated which of the following?

 18) What does the parol evidence rule do?

 19) ABC LLC and XYZ Corp. entered into a contract whereby ABC is to supply XYZ with widgets. After receiving the first shipment of widgets, XYZ finds that the widgets, while meeting the physical standards specified in the contract, do not perform as XYZ anticipated. The contract is silent as to performance specifications, but XYZ sus

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