31 Dec Participating preferred stock

MBA535 Module 1 Quiz 1

Question 1. Question :

May a bailment be established without actual delivery and acceptance of the goods?

Yes

No

Question 2. Question :

If confusion of property is willful, each party will be deemed the owner of a proportionate part of the mass.

True False

Question 3. Question :

One who purchases property from a bailee ordinarily gets good title.

True False

Question 4. Question :

The bailee in a mutual-benefit bailment must take reasonable care of the bailed property.

True False

Question 5. Question :

The person who temporarily gives up possession of personal property to another.

Accession

Bailee

Bailment

Bailor

Pawn

Pledge

Question 6. Question :

When the bailment is for the sole benefit of the bailor, may the bailee receive the benefits of ownership during the bailment?

Yes

No

MBA535 Module 2 Quiz 2

1. Question :

A right to nonexclusive or intermittent use of land:

Adverse Possession

Community property

Easement

Joint tenancy

License

Partition

Question 2. Question :

Does an affirmative covenant obligate the person receiving the property to do something?

Yes

No

Question 3. Question :

When more than one person owns land, each has the right to use and possess it.

True False

Question 4. Question :

If a husband and wife living in a community property state divorce, all their property is divided equally between them, regardless of when obtained.

True False

Question 5. Question :

A temporary, personal right to do certain acts on land, but not to have any lawful claim concerning the land.

Adverse Possession

Community property

Easement

Joint tenancy

Question 6. Question :

In a joint tenancy, if one owner dies, the survivors own the entire property free of any interest of the deceased.

True False

MBA535 Module 3 Quiz 3

1. Question :

A voidable contract:

Must be in writing.

May be rejected by both parties.

Gives one party the choice to abide by it or reject it.

Is never effective.

Question 2. Question :

Only the promisor needs to supply consideration to have an enforceable contract.

True False

Question 3. Question :

When a contract is required to be sealed, no substitute for an actual seal may be used.

True False

Question 4. Question :

An offer can be accepted:

In any manner the person receiving it chooses to accept it.

By putting a properly mailed acceptance in a mailbox.

Only by the same means by which the offer was communicated.

By fax only if it is received by fax.

Question 5. Question :

When an offer is made:

It can be accepted within ten days.

In no state can it be revoked when it is contained in a sealed writing.

It can be revoked even if the offeror has promised to keep it open.

It may be revoked only at the end of three months.

Question 6. Question :

A sales letter is an offer if:

The wording is such as to indicate that the writer is merely trying to evoke an offer on certain terms.

It is a circular sales letter.

It is an advertisement.

It is a personal sales letter containing an offer.

MBA535 Module 4 Quiz 4

1. Question :

If a minor does not still have possession of property received under a contract, the contract cannot be disaffirmed.

True False

Question 2. Question :

If Agnes agrees to give $1,000 to her college:

This does not require consideration.

She receives consideration from the college.

The agreement requires all the elements of any other contract.

The agreement meets all the technical requirements of ordinary contracts.

Question 3. Question :

Silence never ratifies a minor’s contracts.

True False

Question 4. Question :

The fact that a contract is foolish and would not have been entered into by the party if sober is sufficient to make the contract voidable.

True False

Question 5. Question :

May a minor ratify a contract at any time?

Yes

No

Question 6. Question :

May an adult recover compensation from a minor who disaffirms a contract and returns property in damaged condition?

Yes

No

MBA535 Module 5 Quiz 5

1. Question :

A mistake as to the terms of the contract does not affect the validity of a written contract.

True False

Question 2. Question :

In order to establish fraud to invalidate a contract:

A false statement could be made recklessly rather than intentionally.

One party must make a false statement.

The person making the false statement need not intend to induce the innocent party to act.

A party must actually do something or take steps to cause a fraud.

Question 3. Question :

When there is a unilateral mistake the mistaken party never can obtain legal relief.

True False

Question 4. Question :

A mutual mistake as to value, quality, or price:

Invalidates only executory contracts.

Does not affect the validity of a contract.

Is not a risk assumed by the parties to a contract.

Invalidates all contracts.

Question 5. Question :

In order to establish that a contract was executed as a result of undue influence:

Threats to harm a person must be proven.

Threats to harm a person or property must be proven.

Force must have been used.

One party must have been helpless in the hands of the other.

Question 6. Question :

A false statement of a material fact.

Active fraud

Fraud in the Execution

Fraud in the Inducement

Misrepresentation

Passive fraud

Undue Influence

MBA535 Module 6 Quiz 6

1. Question :

A partnership can only be formed to run a lawful business.

True False

Question 2. Question :

A partner who is unknown to the public as a partner and takes no part in the management of the business.

Dormant partner

General Partner

Nominal partner

Secret partner

Silent partner

Trading partner

Question 3. Question :

Are all partnership decisions made by majority vote?

Yes

No

Question 4. Question :

There are no formalities to existing and operating as a sole proprietorship.

True False

Question 5. Question :

The purpose of Fictitious Name Registration Statutes is to collect tax.

True False

Question 6. Question :

A partner who takes no active part in the management of the business, but might be known to the public as a partner.

Dormant partner

General Partner

Nominal partner

Secret partner

Silent partner

Trading partner

MBA535 Module 7 Quiz 7

1. Question :

Means by which a partnership relation is immediately changed upon the happening of a specified event.

Acts of the parties

Alienation

Dissolution

Futility

Operation of law

Winding up

Question 2. Question :

When a partner engages in misconduct prejudicial to the successful continuance of the partnership business, a court may order dissolution.

True False

Question 3. Question :

A partner may withdraw from a partnership at any time without liability.

True False

Question 4. Question :

All partners must agree when the date for dissolution of the partnership is changed.

True False

Question 5. Question :

Dissolution prevents the performance of existing contracts.

True False

Question 6. Question :

May the remaining partners decide whether a partner has the capacity to continue as a partner?

Yes

No

MBA535 Module 8 Quiz 8

1. Question :

The right to purchase shares of stock at a set price.

Capital stock

Cumulative preferred stock

Par-value stock

Participating preferred stock

Stock option

Treasury stock

Question 2. Question :

Stock to which a face value has been assigned and that has this value printed on the stock.

Capital stock

Cumulative preferred stock

Par-value stock

Participating preferred stock

Stock option

Treasury stock

Question 3. Question :

A corporation may declare a stock dividend even if the corporation has no surplus.

True False

Question 4. Question :

The Securities Act of 1933 does not apply to the issuance of securities under $5 million.

True False

Question 5. Question :

When a broker holds stock for which certificates have not been issued, the broker can transfer the stock at the written direction of the owner.

True False

Question 6. Question :

Stock that shares with common stock in any extra dividends.

Capital stock

Cumulative preferred stock

Par-value stock

Participating preferred stock

Stock option

Treasury stock