Bul 3310 bailey - Study guides, Class notes & Summaries

BUL 3310 Exam 1 FSU Bailey Graded A+ Tort law is a subset of private law that seeks to compensate the injured party for the loss caused by the actions of another. True False True Res judicata is best defined as A court enforced promise A controversy that has been litigated and forever settled between the parties The ruling of a court of equity The legal basis for dicta in court opinions. A controversy that has been litigated and forever settled between the parties Today, sc...

Which legal rule will not impose punitive damages on a master for the torts of his servants unless the master himself took some part in the wrongful action? - vicarious liability rule - durham rule - complicity rule - transferred liability rule - ️️Complicity rule When a servant completely abandons the master's work to pursue his own interests, the servant is on ___ - a detour - an outing - a trespass - a frolic - ️️A frolic In contracts negotiated by an agent who is actin...

Absent an agreement otherwise, each partner is entitled to compensation for his or her services in managing the business T/F - ️️False A buy and sell agreement normally specifies the terms under which a withdrawing or deceased partner's interest will be bought out T/F - ️️True Subchapter S corporation will avoid double taxation if which of the following applies? A. All the shareholders agree to be taxed as in a partnership B. The corporation files Articles of Partnership in th...

Most of the powers of the federal government enumerated in the Constitution are powers shared with the states. True False - ️️False Res judicata is best defined as A court enforced promise A controversy that has been litigated and forever settled between the parties The ruling of a court of equity The legal basis for dicta in court opinions. - ️️A controversy that has been litigated and forever settled between the parties Today, scholars argue the role of the corporation is to ...

BUL 3310 Exam 4- Bailey Graded A+ Partnerships typically buy life insurance policies on each partner in order to fund the required purchase of the partner's interest in the partnership when the partner dies T/F True Subchapter S corporation will avoid double taxation if which of the following applies? A. All the shareholders agree to be taxed as in a partnership B. The corporation files Articles of Partnership in the state where it has its principal place of business C. The corpor...

Big Corporation (BC) is an American business incorporated in the State of Delaware. Its principal place of business is in New Jersey. Franklin lives in New York. For purposes of diversity of citizenship, Big Corporation is a citizen of - ️️Both Delaware and New Jersey Assume that the Vermont legislature passed a bill prohibiting the sale within the state of detergents containing certain chemicals harmful to the environment. Assume further that the governor signed the bill into law. Thi...

Which of the following statements is true about a partnership name? (The name is an asset of the partnership that may be sold or assigned. The name must include the word "company" in it.) The partnership must comply with the state's assume name provisions. Both a and c - ️️Both a and c The owner of a limited liability company LLC has unlimited personal liability for the debts of the LLC. T/F? - ️️False Which of the following is NOT one of the recognized disadvantages of ...

Dr. Dan accidentally left a scalpel in Paul Patient during Paul's operation, causing Paul much pain and necessitating additional surgery. Paul's lawyer will most likely use the special doctrine of ____________when he sues Dr. Dan for negligence. Negligence per se Res ipsa loquitur Superseding cause Contributory negligence - ️️Res ipsa loquitur What is the primary purpose of tort law? Punish wrongdoers Compensate victims for their losses Support society by fining wrongdoers C...

BUL 3310 Exam 3 Bailey Already Graded A+ A master can normally avoid liability for damages caused by a servant if he can show that the servant misunderstood his instructions T or F? ️True In contracts negotiated by an agent who is acting within the scope of his authority for a disclosed principal, the agent, the principal, and the third party are equally liable on the contract T or F? ️False The legal doctrine that holds the master liable for the torts committed by a servant wh...

BUL 3310 Exam 2 FSU Bailey Verified Solutions A person who uses a logo in an advertisement that is deceptively similar to that of another business commits the tort of false light. True False ️False What is the primary purpose of tort law? Punish wrongdoers Compensate victims for their losses Support society by fining wrongdoers Create precedents in the common law ️Compensate victims for their losses The publication requirement for libel is met if the falsehood is communic...