BUSS 213 MIDTERM Business Law and Ethics Spring 2020,100% CORRECT
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Course
BUSS 213
Institution
BUSS 213
BUSS 213 MIDTERM Business Law and Ethics Spring 2020
(each Question 2 pts)
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) A sole proprietor is considered a separate legal entity for purposes of incorporation.
⊚ true
⊚ false
2) When one of the m...
buss 213 midterm business law and ethics spring 2020
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BUSS 213 MIDTERM Business Law and Ethics Spring 2020
(each Question 2 pts)
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is
false.
1) A sole proprietor is considered a separate legal entity for purposes of
incorporation.
⊚ true
⊚ false
2) When one of the members dies, a joint venture is not automatically
terminated.
⊚ true
⊚ false
3) A limited liability company is incorporated in the state in which it does
business.
⊚ true
⊚ false
4) Today, courts hold that once an offeree begins performance on a unilateral
contract, the offeror must hold the offer open for a reasonable time to allow the
offeree to complete the performance.
⊚ true
⊚ false
5) The definition of a contract is any two promises.
⊚ true
⊚ false
6) If a minor enters into a contract with an adult, both parties may disaffirm
the contract based upon the minor's lack of majority.
⊚ true
⊚ false
7) As a general rule, parents are not liable for contracts entered into by their
minor children.
⊚ true
⊚ false
Version 1 1
,8) A promise to pay a debt that has already been discharged in
bankruptcy must be in writing in order to be enforceable in some states.
⊚ true
⊚ false
MULTIPLE CHOICE - Choose the one alternative that best completes the
statement or answers the question.
9) Jurisdiction refers to:
A) A defendant's interest in having an impartial jury preside over a case.
B) The plaintiff’s interest in having a case heard in district court.
C) The courts’ power to render binding decisions on parties before them.
D) The power of the plaintiff to file a lawsuit in any court of his choosing.
E) The power of a defendant to have a case removed to an unbiased court.
10) Which of the following is a question of fact?
A) Did the vehicle run the traffic light?
B) Is premeditation necessary for a first degree murder conviction?
C) Is speech protected by the First Amendment?
D) What is necessary for service of process?
E) What elements should an answer contain?
11) If a defendant is a corporation:
A) No service of process is required.
B) Only the president of a corporation can be served.
C) Only the agent of the corporation can be served.
D) Generally either the president of the corporation or an agent can be
served.
E) The corporation does not have to receive service.
12) Which of the following would fall under the state court’s jurisdiction?
A) Admiralty cases
B) Patent and trademark
Version 1 2
, claims C) Adoption
D) Bankruptcy
E) Federal criminal prosecutions
Version 1 3
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