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LAW 531 All Quizzes - Week 1 to Week 6
LAW 531 Week 1 Quiz
1. The Black Squirrel limited partnership has been in operation for many years, but has recently fallen on hard times. The partners have decided to dissolve, although there are few assets remaining in the partnership. Shortly after the partnership filed its certificate of limited partnership, the partners had foresight to incorporate into their partnership agreement a provision that, in the event of dissolution, the assets would be distributed in payment of claims first to limited partners, then to general partners, then to creditors. Hilda is a limited partner and feels relieved that she will receive at least a portion of her capital. Henry, one of the general partners, said that this provision is void and unenforceable. Which of the following best describes the situation? 1. The provision placing limited partners ahead of general partners is unenforceable, thus all partners would be on equal footing and ahead of creditors.2. The distribution of assets in the event of dissolution is one of the few provisions where the Revised Uniform Limited Partnership Act does not allow modification. 3. The distribution, as called for in the agreement, would be enforceable if it had been included in any filings related to the limited partnership. 4. The provision placing partners ahead of the creditors is not enforceable, but the priority of limited partners over general partners is enforceable. 5. It provides that arbitration agreements are valid, irrevocable and enforceable. 6. It permits an appeal for all arbitration awards. 7. It applies only to breach of contract disputes. 8. It governs all types of alternative dispute resolution. 9. A mediator does not make a decision or an award. 10. If a settlement agreement is not reached in mediation, then the parties hire a new mediator. 11. A settlement agreement is never reached with a mediator. 12. Was created by the Federal Mediation Act of 1925. 13. A corporation is a separate legal entity. 14. Corporation shareholders are subject to unlimited personal liability. 15. A corporation terminates upon the death of an owner. 16. Corporation owners are only taxed once on earnings. 17. Arbitration 18. Mini-trial 19. Mediation 20. Conciliation 21. To contest the local court rules 22. To facilitate the settlement of a case 23. To conduct discovery for a case 24. To structure a settlement payment schedule. 25. Appealable 26. Mediation 27. Arbitrator discretion 28. Binding arbitration |
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1. The provision placing limited partners ahead of general partners is unenforceable, thus all partners would be on equal footing and ahead of creditors.
2. The distribution of assets in the event of dissolution is one of the few provisions where the Revised Uniform Limited Partnership Act does not allow modification. 3. The distribution, as called for in the agreement, would be enforceable if it had been included in any filings related to the limited partnership. 4. The provision placing partners ahead of the creditors is not enforceable, but the priority of limited partners over general partners is enforceable. 5. It provides that arbitration agreements are valid, irrevocable and enforceable. 6. It permits an appeal for all arbitration awards. 7. It applies only to breach of contract disputes. 8. It governs all types of alternative dispute resolution. 9. A mediator does not make a decision or an award. 10. If a settlement agreement is not reached in mediation, then the parties hire a new mediator. 11. A settlement agreement is never reached with a mediator. 12. Was created by the Federal Mediation Act of 1925. 13. A corporation is a separate legal entity. 14. Corporation shareholders are subject to unlimited personal liability. 15. A corporation terminates upon the death of an owner. 16. Corporation owners are only taxed once on earnings. 17. |
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1. Each general partner would receive $50,000, and each limited partner would receive $100,000.
2. All partners would receive $75,000, regardless of whether he or she is a general or a limited partner. 3. Each general partner would receive $30,000, and each limited partner would receive $120,000. 4. Each general partner would receive $120,000, and each limited partner would receive $30,000. 5. A resolution may or may not be reached 6. One party usually drops the case 7. A judicial referee makes recommendations to the parties 8. Parties can introduce evidence to support their case. 9. Franchise 10. Limited Liability Partnership (LLP) 11. Limited Liability Company (LLC) 12. S-Corporation 13. Each shareholder of the corporation will be treated as a limited partner of the limited partnership 14. The liability of the corporate general partner will be limited to the amount of its assets 15. Each shareholder of the corporation will be treated as a general partner of the limited partnership 16. The limited liability of the corporation will result in the limited partners having greater liability that they would otherwise. 17. Mary can file a negligence lawsuit against the dealership that sold Jon his car. 18. Mar can file a strict liability suit against John 19. John can file a negligence lawsuit against the dealership from which he bought the car. 20. Mary can recover damages for her injury under a theory of strict liability against the manufacturer of John’s car. 21. Ongoing 22. One-time 23. Informal 24. Static 25. Defect in design 26. Failure to provide adequate instructions 27. Failure to warn 28. Defect in manufacture 29. People, systems, and processes working together across the organizations to systematically thin about and manage a wide range of risks that could impede achieving organizational objectives/ opportunity. 30. Management of a single function of an organization that, upon implementation and testing, is then processed entity wide 31. A process affected by an entity’s leaders, management, and other personnel that is designed to identify potential events that may affect the entity, and to manage risk 32. An approach that capitalizes on human intervention as processed through real change leaders. 33. Was it foreseeable to the plaintiff that the defendant would engage in this conduct? 34. Was the injury foreseeable to the plaintiff prior to the injury’s occurrence? 35. Was it foreseeable that the defendant’s conduct would lead to the kind of injury that the plaintiff suffered? 36. Was it foreseeable that the defendant was the cause of plaintiff’s injuries given the nature of those injuries? 37. Professional malpractice 38. Disparagement 39. Assault 40. Intentional misrepresentation 41. A state whose law applies contributory negligence will not allow the plaintiff to recover if the plaintiff has any fault for his injuries. 42. If the plaintiff’s fault is only 5 percent, his recovery will be the same under either pure or partial comparative negligence 43. Because the plaintiff is partly at fault, he will not be able to recover under either comparative or contributory negligence 44. The plaintiff will have to elect whether to sue under comparative or contributory negligence. 45. Negligence 46. Misrepresentation 47. Fraud 48. Nuisance 49. Quality control doctrine 50. Defective design doctrine 51. Crashworthiness doctrine 52. Failure to design doctrine 53. Failure to properly design the product 54. Failure to include adequate instructions for the product 55. Failure to properly test the product 56. Failure to properly package the product. 57. Intentional misrepresentation 58. Tort of appropriation 59. Misappropriation of the right to publicity 60. Disparagement 61. Jerry, a professional football player who earns $2 million a year 62. All the men recover the same amount of damages, irrespective of their income or profession 63. George, a retired professor who gets a pension of $50,000 a year 64. Harry, a chartered accountant who earns $200,000 a year 65. Made the product unreasonably dangerous 66. The defendant was aware of 67. Was caused by the defendant 68. Affect the value of the product 69. Strong investment strategies 70. Nondisclosure agreements 71. Management commitment 72. Legal counsel 73. Merchants are protected from false imprisonment claims of persons detained on suspicion of shoplifting 74. Merchants are protected from product disparagement claims of their competitors 75. Merchants are protected from negligence claims on their business premises 76. Merchants are protected from the intentional torts of their customers. 77. Assault 78. Libel 79. Battery 80. Disparagement 81. Disparagement 82. Invasion of privacy 83. Slander 84. Libel 85. Contributive negligence 86. Comparative negligence 87. Assumption of task 88. Strict liability 89. Malicious intent is required for a disparagement case, but is not required in the defamation case 90. Publication to a third party is required in the defamation case, but not in the disparagement case 91. Malicious intent is required for the defamation case, but not in the disparagement case 92. Publication to a third party is required in the disparagement case, but not in the defamation case 93. The plaintiff was involved in an abnormally dangerous activity 94. The defendant gave advance warning to the plaintiff that an injury would occur 95. The plaintiff knowingly and willingly subjected herself to a risky activity 96. The plaintiff is more at fault than the defendant causing the accident 97. The inventor has to test his invention in the public domain, to measure its validity, before being granted a patent 98. A patent will not be granted if the invention was already in public use for one year before filing application 99. An invention cannot be used in the public domain prior to it being granted a patent 100. The invention will come into the public domain once its time period has expired 101. The doctrine of Quantum merit 102. The doctrine of implied-in-law contract 103. The express contract doctrine 104. The doctrine of formal contracts 105. Mary pays Bob for painting her house 106. Mary promises to pay Bob if Bob promises to paint her house 107. Mary pays Bob for Bob’s promise to paint her house on Saturday 108. Bob paints Mary’s house and Mary promises to pay Bob on Saturday. 109. A promise made in a contract must be an express promise in order to be valid 110. A party to a contract cannot promise to provide illegal consideration 111. A gift promise made in an estate is valid and legal 112. A party to a contract cannot withdraw a promise if the other party to the contract relied upon the promise to his or her detriment. 113. Express contract 114. Quasi contract 115. Implied-in-fact contract 116. Implied-in-law contract 117. Mislaid property 118. Stolen property 119. Lost property 120. Abandoned property 121. The voluntary performance rule 122. The mirror image rule 123. The public law rule 124. The lapse of time rule 125. Wildboards cannot stop competitors from using the term “rollerboard” for their products. 126. Competitors must pay royalties to Wildboards for using the term “rollerboard”. 127. Wildboards can no longer use the name Rollerboard on its boards. 128. Competitors must put a disclaimer on their boards that they are not the original Rollerboards. 129. Mediation 130. Negotiation 131. Arbitration 132. Med-Arb 133. Ask for transfer of any of the offender’s patents to the plaintiff 134. Obtain the offender’s trademarks or brand name as payoff 135. Ask to acquire the offender’s trade secrets as payoff 136. Obtain an injunction prohibiting the offender from divulging the trade secret 137. Statute of Limitations 138. Common Law Statute 139. Statute of Verbal Contracts 140. Statute of Frauds 141. Legal value must be given and there must be a bargained-for exchange 142. Money must be received and a promise fulfilled 143. Money must be paid and fund received 144. Legal value is appropriate and the value is paid 145. A buyer and seller 146. An offeror and offeree 147. A breaching party and a non-breaching party 148. An initiator and a responder 149. Minerals in the subsurface 150. Buildings and improvements on the land 151. Improvements under the land 152. Building fixtures on the land 153. The property owner gets to keep all of the improvement and is not required to pay for it. 154. The party who made the improvement must remove all easily removable improvements, paying any damages from the removal; otherwise the owner of the property gets to keep the improvement and is not required to pay for it. 155. The party who made the improvement can remove it if this is possible; otherwise, the owner of the property must keep the improvement and pay the party who improved it the reasonable value of the improvement. 156. The property owner gets to keep the improvement in all cases, but must pay the part who improved it the reasonable value of the improvement. 157. Financing of consumer goods 158. Sale of commercial goods 159. Sale of goods and lease of goods 160. Sale of real property 161. Liquidated damages 162. Compensatory damages 163. Consequential damages 164. Restitution 165. Personal, real, real 166. Real, real, personal 167. Real, personal, real 168. Personal, personal, real 169. $50 or more 170. $1,000 or more 171. $500 or more 172. $200 or more
INCLUDES WEEK 4, WEEK 5, WEEK 6 QUIZZES
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