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Uop Business Law 531 Final Exam Question Answers

2271 words - 10 pages

LAW 531 Final Exam (Latest)

1. Ann is troubled with the noise from an old generator set up by her neighbor Jose at his residence. The noise the generator makes is unbearable. Ann sues Jose for nuisance. Will she succeed?
a) Yes, because the noise is interfering with Ann’s use and enjoyment of the land.
b) No, because the generator is not on her property.
c) No, because she cannot interfere with Jose’s personal matters.
d) No, because it is a reasonable noise.

2. Which of the following is likely to be forbidden by Title VII?
a) Discrimination against a woman solely because she is a lesbian.
b) Discrimination against a man solely because of his gender.
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c) The shareholder has refused a request that his/her accountant be permitted to look at the corporate accounting records.
d) The shareholder alleges that the corporation has been paying dividends to a previous shareholder from whom the shareholder purchased his/her shares.
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5. To prove his or her due diligence defense under the Securities Act Section 11 with regard to audited financial statements, an officer of the issuer must prove which of the following?
a) The officer had no intent to misstate or omit a material fact in the audited financial statements.
b) The officer had no reason to believe the financial statements omitted or misstated a material fact.
c) The officer made a reasonable investigation into the accuracy of the audited financial statements.
d) The officer believed the financial statements did not omit or misstate a material fact.

6. _________ is the plaintiff’s voluntary consent to a known danger.
a) Negligence per se
b) Comparative negligence
c) Assumption of risk
d) Contributory negligence
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7. Calvin tells Sara that he will sell her his car for $5,000. Sara agrees. The exchange is to take place in 10 days. The contract between Calvin and Sara is now _____.
a) bilateral, executory, and implied
b) bilateral, executed, and voidable
c) unilateral, executory, and valid
d) bilateral, executory, and express

8. Which of the following is true about a sole proprietorship?
a) A sole proprietorship is a legal entity.
b) A sole proprietorship cannot sue or be sued.
c) A sole proprietorship as a form of business can be transferred to someone else.
d) A sole proprietorship has a life of its own apart from its owner.
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9. _____________ means the accused failed to perceive a substantial risk of harm that a reasonable person would have perceived.
a) Exculpation
b) Recklessness
c) Duress
d) Negligence

10. The board of directors of Filex Corporation, at a regular meeting of the board, entered into a contract with Ginger Grant, one of the directors. This contract called for Filex to purchase 120 acres of land from Ginger. Of the ten members on the board, eight were present at the meeting. One of the directors present was Ginger. All the other directors were disinterested in the transaction and not related to Ginger. After a lengthy discussion, six directors voted in favor of the contract and two voted against it. Ginger voted for the contract. Which of the following is true?
a) The contract is valid since it was approved by a majority of a quorum of the board.
b) The contract becomes void if the corporation proves that the contract was unfair to it.
c) The contract is voidable unless Ginger proves that the contract is fair to the corporation.
d) The contract between...

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