Expert answer:business law
Solved by verified expert:Answer multiple choice questions
new_microsoft_word_________2_.docx
Unformatted Attachment Preview
Melissa owns a major hair care products business that has hit hard times. She
needs to file for bankruptcy protection. However, she wants to continue to run
the business by reorganizing it and getting her creditors under control. Under
what chapter of bankruptcy should Melissa file for bankruptcy?
11
12
13
7
You are owed thousands of dollars from the ScanScap Corporation.
Scansnap’s CEO claims that his company can never be taken into bankruptcy
court because he won’t allow it and the corporation’s creditors can NEVER
force it into bankruptcy court. Is the CEO’s statement true or false?
True
False
What is the name of the document that a person must file with the Court to
start or commence a lawsuit?
Scheduling Order
Answer
Complaint
Motion
When walking down the street, a piano from above you slips from the top floor
of Trump Towers and smashes your prized unicycle. To replace it, it will cost
$4,500. You sue and are awarded $4,500.00 What kind of “damages” were
you awarded by the judge?
Consequential
Liquidated
Compensatory
Absolute
After a person filed a lawsuit, what document must the defendant (or person
sued) file in response to the lawsuit?
Complaint
Answer
Scheduling Order
Motion
The highest court in the United States is which court?
The Final Circuit of the United States
The United State Supreme Court
The Michigan Supreme Court
International Court of Justice
Larry entered into a contract with Moe that Larry would give Moe a prized
Three Stooges prop this past Monday. Larry failed to deliver. Moe sued and
lost the lawsuit. Which of the following is main/best reason why?
Larry lacks capacity to enter into a contract
The prized Three Stooges prop has no value
Lack of consideration
Larry has immunity from suit
Select all the stakeholders of Saginaw Valley State University
Students
Faculty
The citizens of Saginaw County
Local business owners
All of the above
ABC Corp has one President named Mike. It has two vice presidents named
Bill and Ted. It has one main customer named Ron. Ralph has all the shares
(ownership) of ABC Corp. Which of these three men is ABC Corp’s
shareholder.
Ralph
Mike
Ron
Bill and Ted, equally
Bill and Ted, separately
Rita offers to enter into a contract to purchase a vehicle from Sarah. At this
point of the transaction, Rita is the ____________ to the proposed
transaction. .
Promissee
Offeror
Promisor
Obligator
Daddy Warbucks, the CEO titan of a defense contractor, loves his alma mater,
Saginaw Valley State University. He promises the alumni director, in writing,
that he would donate $1million dollars a year for the next five years. Then,
three days later, he is indicted for bribes (he didn’t take this class about
business ethics). He decides he is going to cancel his donation. Saginaw
Valley State University sues to enforce the donation and SVSU loses in
court. Which of the following is main/best reason why?
Lack of consideration
The contract is void due to criminal gains
The Foreign Corrupt Practices Act voids the transaction
The contract must be in oral form only
A provision in the Michigan state constitution conflicts with a provision in the
U.S. Constitution. If challenged, which of the following is the most likely
outcome
Neither provision will be enforced; they cancel each other out
The provisions will be balanced to reach a compromise.
The state provision, not the U.S. Constitution, will be enforced.
the U.S. Constitution, not the state provision, will be enforced.T
The Bay City Planning Department, the Coastal County Zoning Commission,
the Delaware Environmental Quality Agency, and the U.S. Bureau of Land
Management issue regulations. These rules constitute:
case law
administrative law
statutory law
stare decisis
Tiny and Vito agree to hijack a truck carrying a load of diamonds. Tiny later
refuses to go through with the crime. Vito can which of the following?
Have the court enforce the agreement
Recover in quasi contract for the loss of his share of the illegal profits
Nothing because an agreement for the commission of a crime is void
Seek a court order to compel Tiny to participate in the diamond heist
Camille, a tennis pro, convinces Dante, who has no athletic ability, that he has
considerable skill and induces him to pay Camille $1,000 for tennis lessons.
When Dante realizes the truth, he files a suit against Camille. Dante is most
likely to recover on the basis of:
unconscionability
fraud
mutual mistake
none of the above
Niles, an accountant, is contracted to provide several audit reports on Optimal,
Inc., one of Niles’ client, knowing that the company intends to use the reports
to borrow money. The reports that Niles produces are knowingly false. Outside
of refund which Niles has already provided, what other kind(s) of damages
could Optimal likely seek in a later filed lawsuit. (Read the question carefully.)
Liquidated
Dependancy
Consequential
Compensatory
Under the Statute of Frauds, all contracts must be in writing to be enforceable
in a court case.
True
False
Merry Music Inc. and Nayda enter into a contract for Nayda to write six songs
for which Merry Music agrees to pay her. Nayda transfers her right to payment
under the contract to Omni Artists Agency. In the transfer of rights to payment,
Nayda is which if the following:
delegator
assignor
assignor
promisee
Quan has the right under a contract with Runway Retail, Inc., to buy the
clothing company’s overstock. Quan’s sale of this right to Sade’s Style House
is which of the following:
a third-party beneficiary contract.
a prohibited transfer
an assignment
a delegation
Bobbie enters into a contract with Claire, who agrees to paint Bobbie’s studio
apartment for $500. Claire is the ___________ and Bobbie is
the ___________ .
obligor; obligee
assignor; assignee
third party promissee; promisor
none of the above
Bernadette enters into a contract to operate a Caramel Coffee franchise, which
Caramel Coffee agrees to support as long as Bernadette maintains her
business license. Caramel Coffee’s duty to perform is ________________.
not a condition
a condition precedent.
a concurrent condition.
a condition subsequent.
Polly agrees to buy Quinn’s Cycle World store business on the express
condition that Ridgeline Credit Union approves the financing. This approval is
________________.
not a condition.
a condition precedent.
a concurrent condition.
a condition subsequent.
Omar and Penn want to alter their contract by executing a slightly different
agreement with performance of certain agreed upon music services which are
close, but not identical, to what they originally promised. They can best
accomplish this by ________________.
a mutual agreement to rescind and conclude the contract.
an accord and satisfaction.
a breach of contract.
none of the above
When one party breaches a contract, the other party can only sue for damages
(i.e. for money).
True
False
Punitive damages generally are awarded in lawsuits for breach of contract.
True
False
Patsy files a petition in bankruptcy. At the time of filing, Bruce has a pending
lawsuit in the local state court. Bruce wants to continue the suit while
bankruptcy is pending. Can he?
Yes because he filed the lawsuit before Patsy filed for bankruptcy
Yes, because state court cases trump bankruptcy proceedings
No, because the automatic stay comes into immediate effect
No, because Bruce can never get any payment ever again.
Norma files a petition in Chapter 7 bankruptcy. She turns her assets over to
Brian, who sells them and then distributes the proceeds to Susan, the only
person to whom Norma owes money. Norma is the _________.
creditor
bankruptcy judge
debtor
trustee
Norma files a petition in Chapter 7 bankruptcy. She turns her assets over to
Brian, who sells them and then distributes the proceeds to Susan, the only
person to whom Norma owes money. Susan is the _________.
creditor
bankruptcy judge
debtor
trustee
Norma files a petition in Chapter 7 bankruptcy. She turns her assets over to
Brian, who sells them and then distributes the proceeds to Susan, the only
person to whom Norma owes money. Brian is the _________.
creditor
bankruptcy judge
debtor
trustee
A __________ damages provision specifies that a certain amount is to be paid
in the event of a future default or breach of contract.
compensatory
liquated
breaching
punitive
Information Security Inc. pays income and other taxes collected by the Internal
Revenue Service (IRS). Like other federal administrative agencies, the IRS
was created by
Congress via enabling legislation
the US Constitution
States, via their courts
the President, through an executive order.
Persons who favor the creation of a new federal biotech agency to regulate the
production of genetically modified agricultural and animal products should
concentrate their efforts on which public body:
State legislatures
Congress
the Courts
the Food and Drug Administration
The Securities and Exchange Commission decides to create a new rule
relating to the dissemination of material nonpublic information through
corporate Web sites. This process begins with
the filing of a complaint against a charged party
the publication of a notice of proposed rulemaking
enacting the rule and seeing what happens
the solicitation of public comments on a proposed drafted rule.
As a judge in a federal court, Judge Thomas L. Ludington (our local federal
judge) can decide, among other things, whether the laws or actions of the
executive and legislative branches are constitutional. The process for making
this determination is known as __________.
judicial review
jurisdicition
questioning venue
none of the above
Orson files a suit against Portia. Before going to trial, the parties meet, with
their attorneys to represent them, to present their dispute to a third party who is
not a judge but who imposes a resolution on the parties instead of a judge.
This is known as _______________.
arbitration
mediation
negotiation
not a legitimate form of dispute resolution
Ollie files a suit against Menard. Before going to trial, the parties meet, with
their attorneys to represent them, to present their dispute to a third party who
assists them in finding a resolution but cannot impose a resolution on the
parties. This is known as _______________.
arbitration
mediation
negotiation
none of the above
President Donald Trump has issued yet another travel ban. Kai, a citizen of
Hawaii, sues to challenge the President’s executive order in federal district
court in Honolulu, Hawaii. The local federal court rules in favor of President
Trump. Which appeals court is the court Kai can take his appeal to in order to
seek the overturning of the district court’s decision?
First Circuit
Fourth Circuit
Tenth Circuit
None of the above
Bean House Coffees and Java Distributors, Inc., have a long-standing
business relationship that they would like to continue. For this reason, they
may prefer to settle any dispute between them through mediation because
_____________________.
the case will be heard by a jury
the dispute will eventually go to trial
the process is not adversarial
the resolution of the dispute will be decided an expert
Maggie and Nate enter into a contract for the sale of a car, but Nate later
refuses to deliver the car. Maggie asks a court to order Nate to perform as
promised. Ordering a party to perform what was promised is _____________.
specific performance
rescission
damages
not in the court’s authority to issue
Tony owns a major lawn care business that has hit hard times. His debts are
just too much and needs to end the business and close the business. Under
what chapter of bankruptcy should Tony file for bankruptcy?
7
11
12
13
Congress enacts a law prohibiting toys made in Indonesia from being sold in
the United States. The Washington state legislature enacts a law allowing the
sale of Indonesian-made toys. Washington’s law will most likely be
______________.
rendered invalid under the supremacy clause.
upheld under the commerce clause.
upheld under the dormant commerce clause.
render the Congressional statute void
Oklahoma enacts a law requiring all businesses in the state to donate 10
percent of their profits to Protestant churches that provide certain services to
persons whose income is below the poverty level. Price-Lo Mart files a suit to
block the law’s enforcement. The court would likely hold that this law violates
________________.
no clause in the U.S. Constitution
the establishment clause
the anti-proverty clause
the supremacy clause
When the person sued files their response to the lawsuit, this document is
known the ___________.
complaint
answer
scheduling order
motion
…
Purchase answer to see full
attachment
How it works
- Paste your instructions in the instructions box. You can also attach an instructions file
- Select the writer category, deadline, education level and review the instructions
- Make a payment for the order to be assignment to a writer
- Download the paper after the writer uploads it
Will the writer plagiarize my essay?
You will get a plagiarism-free paper and you can get an originality report upon request.
Is this service safe?
All the personal information is confidential and we have 100% safe payment methods. We also guarantee good grades