Reference no: EM132278367
1. Which of the following damages must be foreseeable in order to be collected?
Consequential.
Nominal and liquidated.
Compensatory, consequential and punitive.
Unless the amendment is one the board may adopt without shareholder action, amendment of the articles of incorporation:
may affect such provisions as would be lawful and proper at the time the amendment is adopted.
2. Which statement is TRUE regarding U.S. anti-trust law?
All monopolies are illegal pursuant to Section 2 of the Sherman Anti-trust Act.
All horizontal mergers are illegal pursuant to Section 7 of the Clayton Act.
Vertical territorial division is a restraint of trade that is governed by the Rule of Reason of anti-trust law.
Evidence of predatory, abusive, and unethical conduct by a monopoly is insufficient to show intentional wrongful conduct for monopolization purposes.
must be approved by a majority of the votes entitled to be cast on the amendment by any voting group with respect to which the amendment would create dissenters' rights.
must be approved by the votes required of every other voting group entitled to vote on the amendment
All of the above
3. Consequential and compensatory.
The management responsibilities of a shareholder include:
Voting for the board of directors.
Voting on mergers and other fundamental changes to the corporation.
Voting to pay dividends.
A and B only.
4. Which of the following is FALSE about the tort of trespass?
A person cannot be liable for trespass by intentionally throwing objects on another's land or causing third parties to come on the land since that person did not physically come on the land.
A trespass can occur against personal property, called "chattels" under the common law.
The intent required for a trespass is only the intent to do the act that constitutes the trespass.
Regarding a trespass to land, actual injury to the land is not required; nominal damages can be given for the mere act of the trespass itself
5. The doctrine which is applied when a defendant violates an existing statute intended to prevent the injury in question to persons of a class which includes the plaintiff is:
Negligence per se.
Res ipsa loquitur.
Proximate cause statute.
Concurrent statutory violatio
6. Ellen assigns to Fred her rights under a contract with Gil. Ellen’s rights under the contract
are extinguished and set up in Fred.
continue until the contract is fully executed.
continue until Gil performs his obligations under the contract.
continue until Fred receives Gil’s performance
7. Which of the following best describes a shareholder's preemptive rights?
The right to purchase shares of another shareholder pursuant to a buy-and-sell agreement.
The right to purchase a pro-rata portion of any additional shares issued by the corporation.
The right of shareholders to override actions of the board of directors.
The right of shareholders to remove members of the board of directors without cause.
8. The “mailbox rule” says that:
Offers and acceptances must be communicated through the mail in order to be effective.
Offers and acceptances are effective when placed in the mail.
A properly dispatched acceptance is effective when sent even if the offeror never receives it.
A revocation is effective when sent.
9. Which of the following is/are true about the principal agency relationship?
In a non-disclosed principal situation, the agent is typically initially liable to the third party.
Under the ratification doctrine, a principal can ratify and thus authorize an agent's contract with a third party that was not originally authorized by the principal.
Under the imputed knowledge and notice doctrine, a principal can be charged with the knowledge of facts that had been disclosed to the principal's agent.
All of the above.