Business Law Questions 1. Ned ordered 38 boxes of donuts for a police party from
ID: 461542 • Letter: B
Question
Business Law Questions
1. Ned ordered 38 boxes of donuts for a police party from Sunshine Donuts. Sunshine put a label on the donuts indicating they were for Ned, when a fire broke out and destroyed the donuts. The act of putting on the label is called _______________________ of the goods.
2. In the question above, what did the buyer obtain when the seller labelled the goods? ______________________________
3. Jeremy stole a car and then sold it to Jerry. Jerry can be a bona fide purchaser for value and keep the car.
T/F
4. Which would a seller wish to charge more for, a contract with FOB place of shipment, or a contract with FOB place of destination as the shipping terms?
7. Jillian bought a new engine for her car. It had a limitation of remedy clause saying no consequential damages could be recovered. The engine failed, other parts of the car's electrical system to fail. Can Jillian recover for the loss to the electrical system?
a. Yes.
b. Not likely.
c. Yes, if the limitation of remedy clause was not in bold print.
9. The UCC requires good faith in the performance and enforcement of every contract.
12. Specific Performance is available as a buyer's remedy under the UCC under these circumstances:
a. when the contract goods are rare or unique
b. any time
c. only if that remedy is spelled out in the contract
d. a & c
21. Microsoft is bound by the promises it makes in its employee handbook.
True
False
25. If you are injured on the job, you will likely have to proceed under the workers' compensation system and not sue your employer.
True
False
27. Partners pay higher taxes than shareholders as a general rule.
True
False
30. Franchisors impose rules on how a franchisee operates a franchise.
T/F
31. Joint and several liability is a concept that applies to partners.
T/F
33. Joanie believes that since she is the founding partner, she has more of a vote than the other partners. This is true.
True
False
34. Yolanda is a partner in Dewey Cheatam and Howe, a law firm. She has a side business running a private investigation firm. She must turn over her profits to the partnership unless the other partners consent in advance.
True
False
36. A doctrine that says a corporation cannot do more things than are permitted by its purpose clause.
41. Managers have to avoid decisions that are not entirely fair to the corporation.
True
False
47. Directors, not shareholders, have the right to manage the corporate business.
50. CarToys car audio store sells its JVC brand speakers only with a JVC subwoofer. Without the subwoofer, they will not sell the speakers to people. This kind of practice is called a ___________________.
a. Yes.
b. Not likely.
Explanation / Answer
3. false. here jerry cannot be considered as a bonafide customer of the car. If the purchaser needs to get the proper title of the vehicle then the selling person should be a rightful owner.
21. true. This organization categorizes its employees as regular employees and specific employee benefit plans are created.
30. True. the franchise should follow the rules imposed by the franchisor for running the business.
31. ture. The joint and several liability clauses of the partnership agreement highlights that all partners hold the responsibility of the business operations.
33. false. Being the founder one cannot possess more vote. it depends on the share each partner is holding.
41. True. The primary responsibility of the manager is to make decisions which can benefit the corporations
47. false. the stakeholders hold the equal rights to manage the cooperate businesses.
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