principal is not ordinarily liable for torts committed by independent contractor

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principal is not ordinarily liable for torts committed by independent contractors.

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Question 3 3 pts

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Stock in close corporations is available to the public.

Stock in close corporations is available to the public.

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Question 4 3 pts

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Savvy Samantha is co-signing her daughter's home loan as a guarantor instead of a surety. She says that being a guarantor is better. True or False?

Savvy Samantha is co-signing her daughter's home loan as a guarantor instead of a surety. She says that being a guarantor is better. True or False?

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Question 5 3 pts

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Shareholders of publicly traded corporations have the right to manage the business they own.

Shareholders of publicly traded corporations have the right to manage the business they own.

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Question 6 3 pts

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The tender offer defense where the target company makes a tender offer on the raider's shares is called pacman.

The tender offer defense where the target company makes a tender offer on the raider's shares is called pacman.

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Question 7 3 pts

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Superfund is another name for the Comprehensive Environmental Response, Compensation, and Liability Act.

Superfund is another name for the Comprehensive Environmental Response, Compensation, and Liability Act.

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Question 8 3 pts

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Shareholders have a right to ask questions to the corporate officers at shareholder meetings.

Shareholders have a right to ask questions to the corporate officers at shareholder meetings.

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Question 9 3 pts

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Telemarketers are allowed to call private residences at any time of day.

Telemarketers are allowed to call private residences at any time of day.

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Question 10 3 pts

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A mortgage is another name for a deed of trust.

A mortgage is another name for a deed of trust.

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Question 11 3 pts

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An accountant's liability is always limited to clients.

An accountant's liability is always limited to clients.

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Question 12 3 pts

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An accountant who assists her client prepare and file a federal income tax return containing false statements generally will not be held criminally liable unless she signs the return.

An accountant who assists her client prepare and file a federal income tax return containing false statements generally will not be held criminally liable unless she signs the return.

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Question 13 3 pts

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Trademarks protect books and movies.

Trademarks protect books and movies.

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Question 14 3 pts

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The internet has NOT affected the law relating to contracts, employment, and intellectual property.

The internet has NOT affected the law relating to contracts, employment, and intellectual property.

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Question 15 4 pts

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Owen Lotts owes a lot of money to numerous creditors. He files chapter seven bankruptcy. Which of his creditors will be paid first?

Owen Lotts owes a lot of money to numerous creditors. He files chapter seven bankruptcy. Which of his creditors will be paid first?

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Question 16 4 pts

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Before Owen filed chapter seven bankruptcy, several creditors were planning to start legal proceedings to garnish his wages. The IRS was threatening to take his house. The bankruptcy acted as a ___________ to hold back the creditors temporarily.

Before Owen filed chapter seven bankruptcy, several creditors were planning to start legal proceedings to garnish his wages. The IRS was threatening to take his house. The bankruptcy acted as a ___________ to hold back the creditors temporarily.

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Question 17 4 pts

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Sean is the only owner of Groceries Delivered, Inc. He writes checks for his dentist bills and home mortgage payment from the corporate account. Which doctrine does this violate?

Sean is the only owner of Groceries Delivered, Inc. He writes checks for his dentist bills and home mortgage payment from the corporate account. Which doctrine does this violate?

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Question 18 4 pts

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This defense to a tender offer requires a company to make large severance payments to top executives.

This defense to a tender offer requires a company to make large severance payments to top executives.

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Question 19 4 pts

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George is 17 and wants to buy his first car. The bank won't give George a loan unless his Mom also signs the loan. George's Mom signs the loan which states that she will be liable only if George defaults on the loan. George's Mom is a

George is 17 and wants to buy his first car. The bank won't give George a loan unless his Mom also signs the loan. George's Mom signs the loan which states that she will be liable only if George defaults on the loan. George's Mom is a

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Question 20 4 pts

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Which is true?

Which is true?

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Question 21 4 pts Skip to question text.

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Snow White buys a house, financing it through Wicked Stepmother's Financing Inc. Wicked Stepmother's Financing Inc. will have a security interest in the house. If she can't make the payments, Wicked Stepmother's Financing Inc. will foreclose on her property. What type of contract is this?

Snow White buys a house, financing it through Wicked Stepmother's Financing Inc. Wicked Stepmother's Financing Inc. will have a security interest in the house. If she can't make the payments, Wicked Stepmother's Financing Inc. will foreclose on her property. What type of contract is this?

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Question 22 4 pts

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Which is true of a check "payable to the order of Thurston Howell" with a blank indorsement (signed on the back of the check as "Thurston Howell")?

Which is true of a check "payable to the order of Thurston Howell" with a blank indorsement (signed on the back of the check as "Thurston Howell")?

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Question 23 4 pts

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To cancel apparent authority with suppliers an agent has dealt with in the past, a principal should

To cancel apparent authority with suppliers an agent has dealt with in the past, a principal should

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Question 24 4 pts

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Dividends declared but not paid are __________ of the corporation.

Dividends declared but not paid are __________ of the corporation.

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Question 25 4 pts

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Before XYZ Company was incorporated, the promoter made several contracts on its behalf. Who is liable on the contracts made prior to incorporation?

Before XYZ Company was incorporated, the promoter made several contracts on its behalf. Who is liable on the contracts made prior to incorporation?

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Question 26 4 pts

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Implied authority is a type of

Implied authority is a type of

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Question 27 4 pts

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The Sarbanes-Oxley Act of 2002 bans which types of services by audit firms for audit clients?

The Sarbanes-Oxley Act of 2002 bans which types of services by audit firms for audit clients?

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Question 28 4 pts

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Alice Agent is an employee of Patti Principal, a florist. Alice delivers flowers for Patti. Alice negligently runs a stop sign while delivering flowers and injures Bart Bikerider. Under the doctrine of respondeat superior,

Alice Agent is an employee of Patti Principal, a florist. Alice delivers flowers for Patti. Alice negligently runs a stop sign while delivering flowers and injures Bart Bikerider. Under the doctrine of respondeat superior,

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Question 29 4 pts

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An advantage of a corporation is

An advantage of a corporation is

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Question 30 4 pts Skip to question text.

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Rhett decides to sell his house in Atlanta on Peachtree Street and move back to his hometown of Charleston, South Carolina. Scarlett offers to buy Rhett's house on Peachtree Street and assume his existing mortgage on the house. If she buys the house and assumes the mortgage, which would be true?

Rhett decides to sell his house in Atlanta on Peachtree Street and move back to his hometown of Charleston, South Carolina. Scarlett offers to buy Rhett's house on Peachtree Street and assume his existing mortgage on the house. If she buys the house and assumes the mortgage, which would be true?

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Question 31 4 pts

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Nancy writes a bad check to Frank for $100. Frank endorses the check and cashes it at the grocery store. He spends the money. The grocery store finds out Nancy has no money in her account and sues Frank for the amount of the check. Which is true?

Nancy writes a bad check to Frank for $100. Frank endorses the check and cashes it at the grocery store. He spends the money. The grocery store finds out Nancy has no money in her account and sues Frank for the amount of the check. Which is true?

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Question 32 4 pts

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The Fair Debt Collection Practices Act

The Fair Debt Collection Practices Act

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Question 33 4 pts

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__________ requires maximum possible accuracy in credit reports and protects consumers from abuses by the credit bureaus such as reporting obsolete information.

__________ requires maximum possible accuracy in credit reports and protects consumers from abuses by the credit bureaus such as reporting obsolete information.

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Question 34 4 pts

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<p>Which of the following forbids sex discrimination regarding pay? </p> <p>I. Title VII </p> <p>II. The Equal Pay Act </p> <p>III. Section 1981</p>

Which of the following forbids sex discrimination regarding pay?

I. Title VII

II. The Equal Pay Act

III. Section 1981

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Question 35 4 pts

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The Age Discrimination in Employment Act prohibits:

The Age Discrimination in Employment Act prohibits:

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Question 36 4 pts

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An employee's expectation that her pension plan's benefits will be paid is protected by which statute?

An employee's expectation that her pension plan's benefits will be paid is protected by which statute?

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Question 37 4 pts

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_____________________ requires an environmental impact statement be prepared for every recommendation on legislation and for every major federal action significantly affecting the quality of the environment.

_____________________ requires an environmental impact statement be prepared for every recommendation on legislation and for every major federal action significantly affecting the quality of the environment.

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Question 38 4 pts

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____________________________ requires that new chemicals be tested to determine their effect on human health and regulates existing chemicals that are unreasonably risky to the environment or human health.

____________________________ requires that new chemicals be tested to determine their effect on human health and regulates existing chemicals that are unreasonably risky to the environment or human health.

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Question 39 4 pts

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__________________________ sets up minimum levels of quality for water consumed by people.

__________________________ sets up minimum levels of quality for water consumed by people.

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Question 40 4 pts

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A consumer debt adjustment is also known as which type of bankruptcy?

A consumer debt adjustment is also known as which type of bankruptcy?

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Question 41 4 pts

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A straight bankruptcy is also known as a

A straight bankruptcy is also known as a

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__________ last for an indefinite period of time.

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Question 43 4 pts

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A ___________ protects books, works of art, and musical compositions.

A ___________ protects books, works of art, and musical compositions.

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Question 44 4 pts

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The formulas for prescription drugs like Valium and Prozac are protected by __________.

The formulas for prescription drugs like Valium and Prozac are protected by __________.

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Question 45 5 pts

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A disadvantage of a sole proprietorship is

A disadvantage of a sole proprietorship is

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Question 46 5 pts

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A disadvantage of a corporation is

A disadvantage of a corporation is

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Question 47 7 pts

How does a sole proprietorship differ from a corporation?

How does a sole proprietorship differ from a corporation?

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Question 48 7 pts

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Describe how employment laws protect employees and impose duties on employers.

Describe how employment laws protect employees and impose duties on employers.

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Question 49 7 pts

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What makes a negotiable instrument negotiable?

What makes a negotiable instrument negotiable?

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Question 50 7 pts

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Describe the limitations environmental laws impose on businesses.

Describe the limitations environmental laws impose on businesses.

True

Explanation / Answer

True.

As per agency law, any tort committed by any independent contractor will be considered his own and the principal will not be liable for this. However, if it is found that the tort was committed as per instructions of the principal, then principal will be liable. But in ordinary case, principal does not give such instructions, therefore, principal will not be liable for this.

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