WRONG

Articles of Organization apply to what type of business organization

LLC

The term "Corporate Veil" refers to which of the following:

Limitation of Liability for shareholders, board members and officers.

Which of the following the best describes the "Four Corners Doctrine"?

Litigants cannot vary the terms of a written contract with verbal evidence or assertions.

The "Duty to Mitigate" can best be described by which of the following statements:

That which requires a person to attempt to stop, lessen or avoid further injury to their interest due to a breach of a contact by another party.

A "meeting of the minds" is relative to which element of a contract.

acceptance

What is the difference between "Respondeat Superior" and "Vicarious Liability"

employee / employer relationship versus independent contractor status of the worker

A corporation's President may not serve as the Secretary of the corporation because there is a statute that requires one officer to be responsible for the tasks normally associated with the traditional responsibilities of the Secretary.

false

A member of the Board of Directors is required to own stock in the corporation which he/she directs

false

A president of a corporation will always be personally liable for the the obligations of the corporation if he signs a contract as "President" of the corporation.

false

An implied contract, whether 'at law' or 'in fact', is based upon circumstances where the parties to the contract have an understanding about what each will do for the other in the future, where the understanding is based on a what each person heard from other people about the deal, but nothing stated or written.

false

Because the Florida Statutes require at least one person to act as the "Secretary" of the corporation, at least two officers are required in a Florida corporation?

false

If a neighbor works to remove a tree limb from his neighbor's roof, then the next day, the neighbor from whose roof the limb was removed promises to pay for that work, a contract can be found based solely on that promise.

false

It is illegal for a corporation that operates a medical office, which employs physicians, to also operate a real estate sales business.

false

The corporation comes into existence only after the Board of Directors is formed.

false

The owners of a corporation are liable for corporate debt, because they are shareholders.

false

As discussed in the lecture, what is the difference between a felony and a misdemeanor regarding the length of incarceration?

one day

The person/position whose job is to accept service of process for a law suit is:

registered agent

To prove a person or entity liable for injury under a theory of Respondeat Superior, the plaintiff must provide evidence ...(complete the sentence from the following choices):

that an employer/employee relationship existed between the defendant and the individual who caused the injury to the plaintiff.

"Apparent authority" can be found when a principal knowingly tolerates or permits a person representing to a third party that he or she is the agent.

true

A United Parcel Service (UPS) delivery driver is in his truck, driving on a city street at 10:30 a.m. on a Tuesday morning, on his way to deliver the next package. He is distracted by his cell phone and runs a red light where he collides with another car causing significant damage to the car and injury to the driver, who has to be taken to the hospital. The injured driver of the car sues the delivery driver and UPS for negligence and other torts. The plaintiff could base the lawsuit against UPS on the principle of respondeat superior.

true

A bylaw is a self-imposed rule, resulting from an agreement or contract between the corporation and its members to conduct the corporate business in a particular way.

true

A partnership can be formed whether the 'persons' intend to form a partnership, or not.

true

An LLC and a corporation may form a partnership between themselves.

true

An offer to form a contract may be withdrawn at any time prior to the acceptance of the offer and no contract will ensue.

true

Each partner is jointly and severally liable for the debts and liabilities of the partnership.

true

The Board of Directors may be personally liable to the shareholders for their acts, or failure to act, if corporation goes bankrupt by knowingly allowing the President of the corporation to buy boats, airplanes and automobiles for himself with corporation money when the President was not authorized to spend money on those things and essentially committing theft from the corporation by doing so.

true

The acceptance of an offer may be in writing, by parol, or by acts, but in whatever mode the assent is signified, it must be actually expressed in some overt manner, by some overt acts and a mere mental intention to accept an offer, however carefully formed, will not create a contract.

true

The fact that a corporation is a "one person" corporation does not, standing alone, justify piercing the "Corporate Veil" nor does the fact that the corporate affairs have been poorly handled, without more, justify piercing the "Corporate Veil".

true

The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager of the company for a debt, obligation, or other liability of the company.

true

The incorporators or board of directors of a corporation shall adopt initial bylaws for the corporation unless that power is reserved to the shareholders by the articles of incorporation.

true

The name of a corporation in Florida must contain the word "corporation," "company," or "incorporated" or the abbreviation of those words.

true

As discussed in the lecture, which Federal legislative act prohibits, in part, a 'quid pro quo' relating to a referral when Federal health care dollars are used to pay for the services provide via that referral?

Anti-Kickback Statute

As discussed in the lecture on Compliance, what does the acronym "CIA" stand for?

Corporate Integrity Agreement

As discussed by Prof. Parker, during the lecture on the material for one of the two modules subject to this exam, which of the following organizations offers certification which may enhance your employment chances

Health Care Compliance Association

What does the term "Ex Rel" in the style of a case indicate?

The case is filed under a Qui Tam provision of a statute.

Which of the following most closely describes the element of consideration regarding contracts:

The cause, motive, price, or impelling influence which induces a contracting party to enter into a contract.

On Tuesday Dr. Supta Joorango made an offer to contract with Susan McFatter for her to be his primary RN. On Wednesday, Dr. Joorango tells Nurse McFatter that he no longer wants her to work with him. Nurse McFatter never responded to Dr. Joorango until she filed a lawsuit for breach of contract.Which of the following is Dr. Joorango's best defense to her claim:

The offer was withdrawn before acceptance, thus, no contract.

Relative to the materials and lecture on this subject, a defense to a claim of a breach of contract may be which of the following:

The plaintiff failed to file the law suit prior to the expiration of the statute of limitations for breach of contract.

Partners are immune from liability for debts of the partnership only after the Articles of Partnership are filed with the Secretary of State.

This is FALSE because there is no requirement for Articles of Partnership to be filed the law holds partners liable for partnership debt.

Which of the follow is a function or purpose of the corporation's By-Laws

To determine how the business will be governed and managed