Business Law Answers - 4935 Words

Business Law Business Law: Unitï ¿ ½1 Review: 1.A law that restricts a fundamental right violates substantive due process unless it promotes a compelling or overriding state interest. TRUE 2. Owen claims that a Pennsylvania state statue infringes on his substantive due process rights. This claim focuses on: the content of the statute 3. A Rhode Island state statute imposes a prison term, without a trail, on all street vendors who operate in certain areas. A Court would likely hold this statute to be : unconstitutional under the due process clause 4. Leo, a resident of Missouri, owns a warehouse in Nebraska. A dispute arises over the ownership of the warehouse with Opal, a resident of Kansas. Opan files a suit aagainst Leo in Nebraska.ï ¿ ½Ã¢â‚¬ ¦show more content†¦In this situation: the contract is suspended. 8. On April 1, KO Contractors, Inc. Contracts to build a store for Lo-Cost Jewelry a specific location in Metro City.ï ¿ ½ On May 1, Metro changes its zoning laws to prohibit the construction of a commercial building at the location. Lo-Cost files a suit aagainst KO. In this situation: the contract is discharged. 9.Carol pays Dick $10,000 for Dick to design an advertising campaign for Carol s health club. The next day, Dick tells carol that he has accepted a job in New York an cannot design the campaign.ï ¿ ½Carol files a suit against dick. Carol can recover: $10,000. 10. Dan hires Eve to perform at Dan s Club, but Eve later breaches the agreement to accept a higher-paying job at First Star Arena. Dan files a suit gainst Eve. The court will most likley: award damages to Dan. ï ¿ ½ Unit 4 Review: ï ¿ ½1. Under the UCC, a sale occurs when title passes from a seller to a buyer for a price. TRUE 2. Patents and copyrights are property that doesï ¿ ½not come under Article 2. TRUE 3. NuTech Company agrees to sell computer equipment to Office Stores, inc (OSI) for OSI to make to its customers. Their construct will be unenforceable if it does not include: the quantity of the goods. 4. United Farms offers to sell Value Bakeries, Inc., fifty bushels of wheat.ï ¿ ½ values representative Wendy responds, We agree to buy fifty bushels only if the wheat is Grade A quality. Wendy s statement is: a counteroffer. 5. Kelly offers to buy 1,000Show MoreRelatedBusiness Law Questions and Answers10157 Words   |  41 PagesANSWERS TO AICPA QUESTIONS CHAPTER 10 INTELLECTUAL PROPERTY RIGHTS AND THE INTERNET 1. (a) Computer software is covered under the general copyright laws and is therefore usually copyrightable as an expression of ideas. Answer (b) is incorrect because copyrights in general do not need a copyright notice for works published after March 1, 1989. Answer (c) is incorrect because a recent court ruled that programs in both source codes, which are human readable, and in machine readable objectRead MoreBusiness Law Questions and Answers1886 Words   |  7 Pagesby Contract Law. Contractual nature A contract can be difened as â€Å"an agreement containing promises made between two or more parties with the intention of creating certain legal rights and obligations and enfoufceable in a court of law†. (Andy Douglas, 2013, p.307). Though every contract involves an agreement, not every agreement is legally forceable and will result in contract. It is necessary to find out weather the agreement between parties was inteded to be regarded by the law as valid andRead MoreBusiness Law Questions And Answers1477 Words   |  6 PagesShort answer questions 1. Take the case of a US firm that wishes to invest some funds (US dollars) for a period of one year. The choice is between investing in a US bond with one year to maturity, paying an interes1t rate of 2.75 percent, and a UK bond with one year to maturity, paying an interest rate of 4.25 percent. The current exchange rate is $1.46 per pound, and the one-year forward exchange rate is $1.25 per pound. Should the US firm invest in US bonds or in UK bonds? The US bondRead MoreBusiness Law I Chapter 9 Answers1010 Words   |  5 PagesChapter 9 Answers: 1. Consideration consists of mutual exchange of gains and losses between contracting parties. In the exchange, a gain by the offer is at the same time a loss to the offeror. The legal term used to designate the gain that each party experiences is that party s legal benefit. Consideration has three characteristics 1) The agreement must involve a bargained-for exchange; 2)the contract must involve adequate consideration; and 3) the benefits and detriments promised must themselvesRead MoreWhat Are The Types Of Business Organizations ( Sole Proprietorship, Partnerships, And Corporations1090 Words   |  5 PagesThe Cardigans want to expand their business ventures. Cora and Caley have discussed the idea of operating a home dà ©cor store with the Cardigan family logo on the goods. The idea behind this type of business is to advertise goods that will make consumers feel that their homes represent a Cardigan lifestyle. The Cardigans would like decide what to name their new business, as it is so different from their usual business variations of clothing and sweaters. Some of the names they have come up with includeRead MoreFinance Management Overview Essay examples1186 Words   |  5 PagesForms of business organization Answer: c [i]. Which of the following could explain why a business might choose to organize as a corporation rather than as a sole proprietorship or a partnership? a. Corporations generally face fewer regulations. b. Corporations generally face lower taxes. c. Corporations generally find it easier to raise capital. d. Corporations enjoy unlimited liability. e. Statements c and d are correct. Firm organization Answer: a [ii]Read MoreAcme Fireworks Essay990 Words   |  4 PagesFinal Paper Proposal James Collier BUS311: Business Law I Instructor: Daniel Malvin 9-1-2014 A sole proprietorship is a one-person business that is not registered with the state as a corporation or a limited liability company (LLC). The owner of the Acme Firework is a sole proprietor that has never changed his business entity. A sole proprietor can be held personally liable for any business-related obligation. This means that if your business doesnt pay a supplier, defaults on a debt, orRead MoreTutorial of Enterpreneur1126 Words   |  5 Pagestend to overestimate or underestimate their knowledge of the laws that pertain to starting a new firm? What does answer to this question suggest that entrepreneurs do before they start a firm? In general, entrepreneurs tend to overestimate their knowledge of the laws that pertain to starting a new firm. Before entrepreneurs start a firm, they should seek for lawyer to get some legal advice, get sources and information about the business, refer to book, or search the information thru the internetRead MoreLaw Firm Of Firm Law1567 Words   |  7 PagesLaw firm of Firm Law LLP Sole proprietorship, partnerships, and corporations are just a few different organization entities that people use when starting a new business. One can change from one business type into another using proper paperwork and by abiding state rules and regulations. There are various factors to consider when starting a business such as the nature of the business being started, the business type, investments or funding, and employees. First, we will examine what business typeRead MoreDifferent Types of Businesses924 Words   |  4 PagesBusiness Scenario As discussed there are three different types of businesses, sole proprietor, partnership and corporations. With these businesses come many advantages and disadvantages that one will have to determine will best suit their own lifestyle. Starting a business is something very serious to plan and make sure you have the necessary financial backing to keep it running, and have the legal knowledge to keep yourself and organization covered. Lastly, if you have the knowledge and product