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