The 7 Short Answer Questions are listed below. 32. List the requirements for an
ID: 443127 • Letter: T
Question
The 7 Short Answer Questions are listed below.
32. List the requirements for an instrument to be negotiable
33. Regarding Securities Regulation, a) Distinguish between the markets regulated by the Securities Act of 1933 and the Securities Exchange Act of 1934; b)Identify the contents of a Registration Statement.
34. Define security interest and identify 3 requirements for an enforceable security interest
35. Regarding employment law a)Identify the major elements of the American with Disabilities Act of 1990; and b)Explain the difference between Disparate Treatment Discrimination and Disparate Impact Discrimination.
36. Define and distinguish between the 3 major types of ordinary bailments
37. Ace Property Company is a subsidiary of Beta Investments, Inc. Ace operates a hazardous waste disposal site. ChemiCo is one of many parties who generate waste disposed of at the site. Ace borrows money from Delta Bank, which takes over the site when Ace goes bankrupt. The bank sells the site to Eagle Company. The Environmental Protection Agency discovers a leak at the site. Can any of these private parties be forced to pay for the clean up? If so, who?
38. The management of Sport Shoes Corporation, a U.S. firm, wants to expand into foreign investment and employment markets. They are considering opening their own production facility in a foreign country or entering into a licensing agreement with a foreign firm. What are the advantages and disadvantages of each of these courses of action?
Explanation / Answer
32. List the requirements for an instrument to be negotiable
Following are the requirements for instrument to be negotiable :
Signature Requirements ,Promise or Order,Established Amount Of Money,Time Requirements and Pay to Order or Bearer.
33. Regarding Securities Regulation, a) Distinguish between the markets regulated by the Securities Act of 1933 and the Securities Exchange Act of 1934
b)b)Identify the contents of a Registration Statement.
Ans :
In the 1920s, companies often sold stocks and bonds on the basis of glittering promises of fantastic profits and without disclosing any meaningful information to investors. Following the stock market crash of 1929, the U.S. Congress enacted the federal securities laws and created the SEC to administer them.
There are two primary sets of federal securities laws that come into play when a company wants to offer and sell its securities:
The Securities Act regulates offers and sales of securities in the United States or that use the means of interstate commerce, such as the internet, U.S. telephone lines or the U.S mail. whereas The Exchange Act requires companies that meet certain thresholds to report information regularly about their business operations, financial condition, and management
34. Define security interest and identify 3 requirements for an enforceable security interest
Ans :A security interest is a property interest created by agreement or by operation of law over assets to secure the performance of an obligation, usually the payment of a debt. It gives the beneficiary of the security interest certain preferential rights in the disposition of secured assets. Such rights vary according to the type of security interest, but in most cases, a holder of the security interest is entitled to seize, and usually sell, the property to discharge the debt that the security interest secures.
3 requirements for an enforceable security interest : 1) Value- banks lends 50k out to debtor
2)Contract- called security the security agreement
3)RIGHTS/in the collateral: Debtor must have rights in the collateral
35. Regarding employment law a)Identify the major elements of the American with Disabilities Act of 1990; and b)Explain the difference between Disparate Treatment Discrimination and Disparate Impact Discrimination.
Ans : a)Identify the major elements of the American with Disabilities Act of 1990 :
An individual with a disability is a person who:
A qualified employee or applicant with a disability is an individual who, with or without reasonable accommodation, can perform the essential functions of the job in question. Reasonable accommodation may include, but is not limited to:
An employer is required to make a reasonable accommodation to the known disability of a qualified applicant or employee if it would not impose an “undue hardship” on the operation of the employer’s business. Reasonable accommodations are adjustments or modifications provided by an employer to enable people with disabilities to enjoy equal employment opportunities. Accommodations vary depending upon the needs of the individual applicant or employee. Not all people with disabilities (or even all people with the same disability) will require the same accommodation.
b)Explain the difference between Disparate Treatment Discrimination and Disparate Impact Discrimination. :
Disparate Treatment: Also known as differential treatment, disparate treatment claims are ones in which the plaintiff alleges he or she is the victim of intentional discrimination on the part of the employer. . To be considered a victim of intentional discrimination, the complaining employee must show he or she is treated less favorably because of a statutorily protected characteristic such as age, sex, race or other prohibited discriminatory factor, and that the differential treatment is the result of a discriminatory motive or intent.
Disparate Impact: Disparate impact claims involve employment practices that are facially neutral in their treatment of different groups but in fact fall more harshly on one group than another. Unlike disparate treatment claims, disparate impact claims do not involve intentional discrimination, i.e., the plaintiff is not required to prove that he or she is the victim of discriminatory motive or discriminatory intent.
36. Define and distinguish between the 3 major types of ordinary bailments
Ans : Bailment describes a legal relationship in common law where physical possession of personal property, or a chattel, is transferred from one person (the 'bailor') to another person (the 'bailee') who subsequently has possession of the property. It arises when a person gives property to someone else for safekeeping, and is a cause of action independent of contract or tort.
Differences between the 3 major types of ordinary bailments :
1. Bailments for the sole benefit of the bailor: Gratuitous bailment that benefits only the bailor
• Duty of slight care: Duty owed by a bailee not to be grossly negligent in caring for the bailed goods
2. Bailments for the sole benefit of the bailee: Benefits only the bailee
• Duty of great care: Duty owed by a bailee not to be slightly negligent in caring for the bailed goods
3. Mutual benefit bailment: for mutual benefit of the bailor and bailee
• Duty of reasonable care: Duty owed by a bailee not to be ordinarily negligent in caring for the bailed goods
Question 37 Answer : Yes, Any transfer of a hazardous waste facility in absence of authority is subject to sanction. since Ace was operating the facility before the leak, if Environmental Protection Agency how that its operation contrbuted to the leak, then it can be held liable for the clean up. since Eagle Company was operating company during leak, thus he will be lible to pay
Question 38 Answer :
Advantages for licensing agreement with a foreign firm :
Typically, a trademark owner will grant a license in order to exploit the trademark rights in areas where he or she does not have the appropriate expertise, infrastructure, or capital resources to maximize the value of the right. While the licensor is exploiting the trademark right, the licensee is betting that the name or symbolrecognition of the property will influence consumers and motivate them to buy a particular item. Characters that have enjoyed popularity from trademark licensing relationships include Mickey Mouse, Barbie, and the Lion King.
Disadvantages :
There are some risks and disadvantages to licensing to Sport Shoes Corporation. The Sport Shoes Corporation may lose control over the manufacture and marketing of its goods in other countries. As a mode of international market entry, licensing also may be less profitable than other choices because returns must be shared between two parties. There even is a risk that the foreign licensee may sell a similar competitive product after the license agreement expires. Other risks and issues involve selecting a partner, as well as all of the general uncertainties in doing business with an international partner, including language, culture, political risk, and currency fluctuations
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