If you logged out from your Quimbee account, please login and try again. 1. Correct 62) Why is fraud in the inducement treated as a personal defense and fraud in the inception treated as a real defense? Private jury trial 5 out of, is 3 hours, 30 minutes. Often essential in conducting business. Question: In early 2013, Beauty property developer negotiated with Stylish over a new house in the eastern sector of Singapore. The underline legal principle applicable to this situation is that ‘once an offer is complete, or in this case accepted, the offer cannot be revoked’. To Buy this Class Copy & paste below link in your Brower Cancel anytime. The innocent party must have suffered some loss, although the plaintiff also has an obligation to mitigate their loss. Contractual nature • Question 1 Please join StudyMode to read the full document. X’s board of directors organizes a committee of its most trusted and knowledgeable employees to investigate the issue and provide the board with a report (the Employee Report). There must be an agreement between parties. For the principal to be bound there must be some act or some knowing omission on the part of the principal. Therefore, Stylish can... ...COLLEGE OF BUSINESS BUSN 420 Week 1 Quiz | | The offer shows a clear intention (to pay additional $5,000 on top of the original agreed amount of $30,000) of the offeror (Damien) that he intends to enter into a legal relationship with the offeree (Jason Miao). At one of their meetings, Stylish asked Beauty whether the price of the house included curtains, blinds and window coverings. There are three pages to your final, and each page, Question 1 63) What is the purpose and effect of eliminating the holder in due course provisions for consumer credit transactions? Question 3 Selected Answer: Selected Answer: Corporate Social Responsibility (CSR) Correct Answer: Take the case of a US firm that wishes to invest some funds (US dollars) for a period of one year. Systems, com/15035841/test-1-bl-flash-cards/ 1. Mr. A replies, “ Yes. No the warning was not too late. (3) Permits rapid diversification into new markets. It is not necessary for officer to read Miranda rights unless suspect is under arrest. LAW ... | | It’s a form of taxation without representation | (4) Income tax benefits. X’s Michigan facility manufactures Irrational Energy Elixir, the company’s best-selling drink. To that end, X’s board appoints a committee of officers and directors to solicit bids. Be sure you are in the correct Chapter when you take the quiz. practice questions in 1L, 2L, & 3L subjects, as well as 16,500+ case David decides to buy Charlie`s car and, Representation of the Self in Social Media, Alfred, Lord Tennyson and the Meaning of 'The Change of the Light Brigade'. It has been proven, that most companies are comfortable in doing businesses, provided they have a government license in hand, and an approval... ...to this rule included contracts of utmost good faith, statement which are only partially true or distort the truth, and the statement which are true at the time of making but change before the contract is entered into. Correct Answer: Corporate Social Responsibility (CSR) It is difficulty to accurately measure both costs and benefits. BATCH NO. Table of Content No contracts or commitments. The laws do change as well, so keeping up with changes to business laws is also very important. Once acceptance is made, there is an agreement. A simle contract must contain 3 constituents: The Fifth Amendment allows individuals to exercise their right against compulsory self incrimination. Question 1 Internal expansion involves a normal increase in business resulting from increased demand for products and services, achieved without acquisition of preexisting firms. Though every contract involves an agreement, not every agreement is legally forceable and will result in contract. 10 out of 10 points : I have chosen two laws that I do not think are logical, these two are apparent authority and executory process. Question 3 3. PREPARED BY I do not agree with the last of the three, apparent authority. In concerning the Fifth Amendment in regards to possession of business records of an organization is limited. To what extent do sole proprietors differ from partners and a corporate official in so far as the Fifth Amendment is concerned? 1. The policeman retrieved the gun and then arrested Quarles. Unimpressed with the bid, the board asks Mr. A, X’s outside legal counsel, whether the bid represents fair market value for the facility. The Importance of Understanding Business Law in Malaysia [1927] AC 177 As to the contamination issue, what would be the board’s best defense to the alleged breach raised in Question 1? 5.1 Essay questions 36 5.2 Multiple choice questions 38 5.3 True and false questions 40 Module 6 Contract law in business 42 6.1 Essay questions 42 6.2 Multiple choice questions 45 6.3 True and false questions 47 Module 7 Fundamental basics of contract law 49 7.1 Essay questions 49 7.2 Multiple choice questions 53 Uniform format for all our exams. Selected Answer: Definition also says that angreement first of all is a promise or commitment that something will or not will happen in the fututre. Quimbee might not work properly for you until you, v1480 - ff5894fcf61f3aca55b897d91273896664d8705b - 2020-10-09T12:09:59Z. Scribd is the world's largest social reading and publishing site. Summary jury trial 10. 1. Here's why 405,000 law students rely on our essay practice exams: Are you a current student of ? However if the agent acts in the presence of the principal and the principal does not say anything to the third party to correct the agent, the principal is bound by the agreement made between the third party and the agent. A few months later, having moved production of Irrational Energy Elixir to X’s Oregon facility, X decides to sell the Michigan facility. Search Search It is necessary to find out weather the agreement between parties was inteded to be regarded by the law as valid and enfoceable (a contract) or just an agreement and not enforceable. Mr. William Tan Question 2 In an asset acquisition, the firm must acquire 100% of the assets of the other firm, while in a stock acquisition, a firm may gain control by purchasing 50% or more of the voting stock. Robert’s attorney suggests to Robert that both parties contribute funds toward hiring individuals to serve on a nonbinding jury and render a suggested verdict. Therefore, with the elements of a bilateral offer given by Damien, the express acceptance by Jason Miao, the intention to create legal relations with... ...CHAPTER 1 The board meets shortly after the report is issued. Answer (c) is incorrect because a recent court ruled that programs in both source codes, which are human readable, and in machine readable object, Short answer questions Model answers included for every exam. Under the MBCA, what criteria would you need to demonstrate to establish that the directors breached this duty? Also, in a stock acquisition, formal negotiations with the target’s management can sometimes be avoided. This quiz consist of 20 multiple choice questions and covers the material in chapters 1 through 4. Adam argues that law primarily benefits the owners of businesses at the expense of workers and customers, while Beth takes the opposite position - that law primarily benefits the individual employees, customers and others, at the expense of the owners of businesses. The Fifth Amendment only protects an individual after they have been arrested. Correct Answer: The Miranda rights are read to the person after they placed under arrest. TMC COLLEGE Details Page (2) Expanding by combination does not create new competition. Correct Answer: Cancel anytime. Marketing can also be expanded into new geographical areas. Selected Answer: Stylish was upset when after taking possession of the keys he realised that blinds, curtains and other window coverings were not provided in the new house. : Unfortunately, X has learned that its most recent batch of Irrational Energy Elixir may have been contaminated. When doing a business it is important to understand laws that apply to your business, laws depend on the country you live in, but there are many that apply almost everywhere in the world. There was no further bargaining expected or mentioned, and the offeree was deemed to accept the terms and conditions stated by the offeror. BUSN 420 Week 2 Quiz Principle No. Or Visit Our Website Answer What criteria must the directors demonstrate, to successfully invoke the defense? http://homeworklance.com/downloads/busn-420-entire-course-business-law-devry/ Will doing so raise the cost of borrowing for these consumers? Clause 3 – The contract price of the house excludes all window coverings. This is because a holder has not actually performed the promise, and thus has lost nothing yet, and therefore does not need the protections that a holder in due course receives. There must be a false statement of fact or law as oppose to opinion or estimate of future events in the case of Bisset v Wilkinson3. Answer: An unfulfilled promise qualifies as consideration, but is not considered value given under Article 3 of the UCC. Thus Damien had offered Jason Miao a bilateral offer. Assume that Company X is incorporated in a jurisdiction that has adopted the Model Business Corporation Act (MBCA), making the MBCA the governing law here.
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