LAW 531 Final Exam Correct Answers

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3. Gath Meat Packing Company is a meat processing business. To reduce costs and increase profits, the president and CEO of Gath orders Gath’s employees to violate federal criminal meat processing laws. The United States Department of Justice prosecutes Gath for criminal violations of the meat processing law. Has Gath committed criminal violations? a) Yes, because the president and CEO, a high-level administrator of Gath, authorized the commission of the crimes. b) No, because the board of directors did not authorize the president and CEO or the other employees to violate federal law. c) No, because a corporation is not liable for most crimes committed by its agents. d) Yes, because a corporation is always liable for the crimes committed by its agents. 4. For which of the following would a shareholder derivative action be appropriate? a) The shareholder alleges that the corporation has violated the shareholder’s preemptive right. b) The shareholder alleges that the board of directors has imprudently managed the corporation. c) The shareholder has refused a request that his/her accountant be permitted to look at the corporate accounting records. d) The shareholder alleges that the corporation has been paying dividends to a previous shareholder from whom the shareholder purchased his/her shares. Final Exam Answers just a click away LAW 531 Final Exam Study Guide 5. To prove his or her due diligence defense under the Securities Act Section 11 with regard to audited financial statements, an officer of the issuer must prove which of the following? a) The officer had no intent to misstate or omit a material fact in the audited financial statements. b) The officer had no reason to believe the financial statements omitted or misstated a material fact. c) The officer made a reasonable investigation into the accuracy of the audited financial statements. d) The officer believed the financial statements did not omit or misstate a material fact.
6. _________ is the plaintiff’s voluntary consent to a known danger. a) Negligence per se b) Comparative negligence c) Assumption of risk d) Contributory negligence LAW 531 Entire Courses and Final Exam LAW 531 7. Calvin tells Sara that he will sell her his car for $5,000. Sara agrees. The exchange is to take place in 10 days. The contract between Calvin and Sara is now _____. a) bilateral, executory, and implied b) bilateral, executed, and voidable c) unilateral, executory, and valid d) bilateral, executory, and express 8. Which of the following is true about a sole proprietorship? a) A sole proprietorship is a legal entity. b) A sole proprietorship cannot sue or be sued. c) A sole proprietorship as a form of business can be transferred to someone else. d) A sole proprietorship has a life of its own apart from its owner. Want to download the Complete Answer..?? Click LAW 531 Complete Final Exam Answer 9. _____________ means the accused failed to perceive a substantial risk of harm that a reasonable person would have perceived. a) Exculpation b) Recklessness c) Duress d) Negligence 10. The board of directors of Filex Corporation, at a regular meeting of the board, entered into a contract with Ginger Grant, one of the directors. This contract called for Filex to purchase 120 acres of land from Ginger. Of the ten members on the board, eight were present at the meeting. One of the directors present was Ginger. All the other directors were disinterested in the transaction and not related to Ginger. After a lengthy
Page 1: LAW 531 FINAL EXAM (LATEST) 1. Ann
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LAW 531 Final Exam Correct Answers

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