31 Dec Explain the notion of the

MBA535 Module 1 Essay Exam 1

1. Question : What is the degree of liability for the common carriers and what exceptions, if any, exist?

Question 2. Question : What is a bailment generally? How is a bailment created?

Question 3. Question : How may personal property by acquired by accession? Define confusion of property.

Question 4. Question : Set forth the distinctions between common carriers and private carriers.

Question 5. Question : Define personal property. What distinguishes tangible personal property from intangible personal property?

Question 6. Question : Must there always be a stated price under the UCC to have a contract?

Question 7. Question : How are sales of goods and sales of services treated differently under the UCC?

MBA535 Module 2 Essay Exam 2

1. Question :

What items must be included in either type of deed?

Question 2. Question :

In what manner does the tenancy by entirety differ from the tenancy in common?

Question 3. Question :

How does the quitclaim deed differ from the general warranty deed?

Question 4. Question :

How does the legal notion of tenancy in common function?

Question 5. Question :

How is real property transferred?

Question 6. Question :

How does real property differ from personal property and what distinguishes real property?

Question 7. Question :

How does a deed of trust differ from a mortgage?

MBA535 Module 3 Essay Exam 3

1. Question :

How does a valid offer to contract differ from an invitation to make offers or enter into a contract? What are the requirements of the legally sufficient offer?

Question 2. Question :

Describe in detail the process of rule-making for agencies.

Question 3. Question :

The bilateral contract consists of the exchange of mutually binding promises made by each of the parties where BOTH parties become bound immediately upon the exchange of the promises. How does the unilateral contract work and at what point are both parties considered bound by the contract?

Question 4. Question :

In the United States, most business regulation is governed directly by Federal and State Agencies. Why is this the case? Why do agencies exist at all? What types of activities are these agencies involved in and what powers of enforcement do they have generally?

Question 5. Question :

Set forth the five minimum requirements for the legally recognized business contract.

Question 6. Question :

Distinguish the valid contract, void agreement and voidable contract. Next, clarify the demarcation between the express and implied contract. Finally, in what manner does the formal contract differ from the simple contract, and executory contract from the executed contract?

Question 7. Question :

How long do valid offers remain in effect and what are the options to the offeree?

MBA535 Module 4 Essay Exam 4

Question 1. Question :

Define promissory estoppel and explain how this may serve as an exception to the normal consideration requirement imposed on each of the parties. Give an example of promissory estoppel.

Question 2. Question :

How may mental incompetence affect whether each of the parties to a contract are bound?

Question 3. Question :

What is the legal theory of consideration in contracts? Is the issue of the adequacy of consideration ever an issue in contract law? Must both parties provide consideration for a contract to be formed?

Question 4. Question :

What is the legal notion of the disaffirmance of a contract by a minor and how does this work?

Question 5. Question :

If an adult chooses to contract with a minor, are there any actions that the adult can insist upon to make the contract more binding?

Question 6. Question :

Is a partial payment of a debt on a prior contract considered consideration? What constitutes invalid or insufficient consideration?

Question 7. Question :

May a minor contract with an adult? If so, what type of contract will be formed and how will it impact each of the parties? Do any exceptions exist?

MBA535 Module 5 Essay Exam 5

Question 1. Question :

Explain the Parole Evidence Rule and describe how it may be applied.

Question 2. Question :

What contracts are specifically required to be in writing under the Statute of Frauds?

Question 3. Question :

Define “Unilateral Mistake” and “Mutual Mistake.” Compare and contrast each. When may each justify invalidating a contract?

Question 4. Question :

What is Undue Influence and how may it affect a contract?

Question 5. Question :

Distinguish Fraud in the Inducement and Fraud in the Execution. Further, explain the fundamental aspects of Active Fraud, Passive Fraud and Innocent Misrepresentation.

Question 6. Question :

Define Physical Duress, Emotional Duress and Economic duress. Describe when duress of each type may be allowed to cause the contract to become voidable.

MBA535 Module 6 Essay Exam 6

1. Question :

Distinguish between the two primary types of negotiable instruments, the promissory note and the draft.

Question 2. Question :

Do all partnerships require a written partnership agreement? What duties and rights belong to the individual partnership owners?

Question 3. Question :

What are the primary forms of checks?

Question 4. Question :

What are the fundamental distinctions of the general partnership and the limited liability partnerships?

Question 5. Question :

What are the five primary forms of notes?

Question 6. Question :

How is the sole proprietorship formed? What legal requirements, if any, must be met, such as licensing, registration, etc. in order to initiate a sole proprietorship? What are the primary advantages and disadvantages of the sole proprietorship?

Question 7. Question :

Describe the differences between the corporate business entity and that of the partnerships and sole proprietorship.

MBA535 Module 7 Essay Exam 7

1. Question :

Define and distinguish the public corporation, the private not-for-profit corporation and the private for Profit Corporation

Question 2. Question :

What are the articles of incorporation?

Question 3. Question :

What powers of agency may a promoter have in the formation of the corporation and what limitations of powers may exist? What is an agency relationship and who are the parties to that relationship?

Question 4. Question :

What act or actions could result in the automatic dissolution of a partnership? What was the common law rule on partnerships’ dissolution and how has it been somewhat modified by the Revised Uniform Partnership Act? Are all partnerships still terminated automatically upon any act of refusing to be associated with a partnership?

Question 5. Question :

If dissolution occurs, how is the former partnership to proceed? What is the winding up period?

Question 6. Question :

Under what circumstances would partnership dissolution occur?

Question 7. Question :

How is the private for-profit company formed?

MBA535 Module 8 Essay Exam 8

Question 1. Question :

Distinguish between common stock and preferred stock.

Question 2. Question :

Consider and propose how this course may assist you in further applying the Leo University core values of Responsible Stewardship and Personal Development into your personal life outside of your livelihood.

Question 3. Question :

Explain in your own words how what you have learned in this course that will help you to integrate the Leo University core values of Responsible Stewardship and Integrity into your professional business life.

Question 4. Question :

What is a stock option and how does such an option operate?

Question 5. Question :

Explain the notion of the Quorum and its impact upon the voting actions of the shareholders.

Question 6. Question :

How is ownership of for-profit corporations obtained and recognized by law?

Question 7. Question :

How is a stockholder’s meeting conducted and what are the basic ground rules?