Fin 292 quiz's 4 5 6
True or false: Contracts are legally enforceable promises
True
True or false: a partnership is dissolved any time a partner dies
True
True or false: a patent is a legal monopoly on the intangible resource of copying and marketing a new invention.
True
True or false: a sole proprietorship is a business owned by one person
True
True or false: a vertical territorial agreement is one between a manufacturer and a dealer or distributor.
True
True or false: an executed contract is one that is fully performed?
True
True or false: complete performance discharges a party to a contract
True
True or false: corporations are subject to double taxation
True
True or false: fraud occurs when any material fact is omitted from a prospectus causing a statement to be misleading
True
True or false: mere possession of monopoly power is not a violation of the Sherman act
True
True or false: promises to make gifts are not binding because there is no bargained for exchange
True
True or false: the SEC has both quasi-legislative and quasi-judicial powers
True
True or false: the blue sky law can apply to securities subject to federal laws as well as to those securities exempt from the federal statutes.
True
True or false: the normal activities of labor unions are exempt from the Sherman act
True
True or false: trademarks indicate a specific producer
True
True or false: usually the cost of creation of a business entity is not a major factor in considering which form of operation to choose
True
The patrol evidence rule:
Allows the use of oral testimony to clear up ambiguous parts of a written contract.
_______ is an order by a judge either to do something or to refrain from doing something.
An injunction
During and ice hockey game, Claude skates up to Geordie from behind and hits him over the head with his stick. Claude is promptly thrown out of the game and suspended by the league. Geordie is not injured because he is wearing a helmet. If Geordie sues Claude, Claude would be guilty of.
Battery
The ultimate purpose of a contract is the creation of an agreement that courts will order parties to perform or to pay consequences for the failure of performance. When courts uphold the validity of such promises, the resulting agreement is a(n) "____contract"
Enforceable
True or false: a limited partnership is solely made up of limited partners
False
True or false: copyright deals with original invention, like patents
False
True or false: monster.com, a job search website, is an example of collective mark
False
True or false: partnerships are tax paying entities
False
True or false: the consumer financial protection board was established under the u.s. constitution
False
True or false: the federal trade commission is an independent administrative agency charged with keeping competition free and fair through the enforcement of the Sherman act
False
Most of our every day purchases involve?
Implied concurrent conditions
Which of the following is true of tort law?
It sets limits on how people can act and use their resources
Oral defamation is called?
Slander
The Nike "swoosh" is and example of what type of intellectual property?
Trademark