Law531

In: Business and Management

Submitted By ahmed3e9ed3
Words 2029
Pages 9
1) Which of the following is a distinguishing feature of a common law legal system?

| A. Requiring guilt be proven beyond a reasonable doubt |
| B. The sole source of law is a comprehensive civil code |
| C. An appeal process |
| D. The making of law by the judges and the following of precedent |
| |
2) Which best describes the types of agency authority held by officers of a corporation?

| A. Vicarious authority |
| B. Express and obvious authority |
| C. Implied and apparent authority only |
| D. Express, implied, and apparent authority |
| |
3) If an LLC fails to follow formalities such as keeping minutes of meetings, which of the following is true?

| A. Only the managers of a manager-managed LLC will lose limited liability. |
| B. All members will lose their limited liability. |
| C. This failure will not result in imposing personal liability on any member. |
| D. Only the parties responsible for the failure will lose limited liability. |
| |
4) Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true?

| A. Martha is personally liable for the additional $75,000. |
| B. Martha’s business creditors can collect only the $50,000 of business assets. |
| C. Martha’s business creditors can collect only the $50,000 now, but if Martha ever goes into business again, they can get the assets of the new business. |
| D. Once Martha terminates the sole proprietorship, the business creditors cannot even get the $50,000. |
| |
5) Partners of a general partnership

| A. are protected from litigation against the partnership by statute |
| B. are liable for…...

Similar Documents

Recognizing Contract Risk and Opportunities

... project. The result is the contract was not rescinded by Leon Ther. The new contract is a more binding contract with less ambiguity in wording. The free exchange of communication has created a trusting atmosphere and has won SS the contract for the larger upcoming project by C-S. The foundation of this case rests in the ambiguous wording of the contract and the poor communication between parties. Managers can avoid these issues with clear and concise planning when determining policies and directives needed for specific goals. Careful consideration must be taken to ensure communication is leveled from both directions for proper assessment of initiatives that have been implemented. Without clear communication performance variables can become skewed and final analysis tainted. References: Cheeseman, H.R. (2010). Business law: Legal environment, online commerce, business ethics, and international issues (7th ed.). [University of Phoenix Custom Edition eBook]. Upper Saddle River, NJ: Pearson Prentice Hall. Retrieved from University of Phoenix, LAW531 website. Contract Creation and Management Simulation...

Words: 1173 - Pages: 5

Contract Creation and Management

... into the contract formation and dispute resolution process. The situations presented occur in every business environment and cannot always be solved through negotiations. Determining if all the requirements have been fulfilled on the company’s part and providing documentation to prove that fact is essential. Providing information to support one’s position allows the negotiation or litigation process to proceed with fewer roadblocks. References Cheeseman, H. R. (2010). Business Law: Legal Environment, Online Commerce, Business Ethics, and International Issues (7th ed.). : Prentice Hall. University of Phoenix. (2002). Legal Environment of Business [Multimedia]. Retrieved from University of Phoenix, LAW531 - Business Law website....

Words: 1013 - Pages: 5

Traditional and Nontraditional Litigation

...Legal Forms of Business Paper 531kjm LAW531 January 1, 2010 Abstract This paper looks at the various legal form of business. Each form of business is better suited to certain uses, and in this paper each form is matched with suitable business ventures. The different forms of business being examined are partnership, limited liability company, sole proprietorship, limited liability partnership, franchise, s corporation, and corporate form. Legal Forms of Business Paper Sole proprietorship is often preferred by individuals who are seeking to maintain managerial control. Ventures such as a small coffee shop, small restaurant, or a small store are good candidates for sole proprietorship. All of these generally have a low overhead, and are very unlikely to face liable issues. A sole proprietorship may also include the spouse of the individual who is standing as the sole proprietor (Ingram, 2012). A partnership has to be carefully considered. There are many things which might cause this venture to become a disaster. A partnership often begins with two individuals with the same interests, and common goals. In some cases the main reason for the partnership to begin is that one person has the ideas and the other has the financial wherewithal. Two physicians may form a partnership to cut down on the overhead of paying for individual leases for the property. In a partnership all partners are liable for the actions of the others. If one gets charged with...

Words: 720 - Pages: 3

Law531

...Nontraditional and Traditional Litigation LAW531 October 15, 2012 J. William Eshelman Nontraditional and Traditional Litigation In the world of business, the possibility of some sort of dispute is nearly impossible to avoid. Whether these disputes are internal between employees or between employees and a business, or externally between a business and other individuals or business, it is important to look at the different options available for dispute resolution. How disputes are handled can have a large impact on future business operations and potentially the survival of a business. Two ways to handle disputes are through traditional litigation or through alternate dispute resolutions. Litigation can be a long and expensive process. According to Cheeseman (2010), litigation consists of pretrial litigation, which includes pleadings, discovery, possible dismissals, pretrial judgments, and settlement conferences. If during this process, there is no settlement, the trial and possible appeal follow. This process can take months, if not years to resolve. According to the author, the process can “take years and cost thousands, or even millions, of dollars in legal fees and expenses” (Cheeseman, 2010, p. 35). Along with the financial implications of a lawsuit, the damage to the businesses reputation and “disruption to normal business operations” is a possibility (Cheeseman, 2010). Another option for businesses is alternate dispute resolution, or ADR. ADR offers...

Words: 489 - Pages: 2

Memorandum: Contract Creation and Management

... Span Systems. Any changes to the original will be accepted or rejected by this group 2. Additions to the contract will cost C-S at an established cost scale based on the contracts time span. Communications and Reporting 1. Span will provide status reports, such as meeting minutes, will be kept and available to C-S 2. A project manager from C-S will be stationed at Span to help facilitate the contractual agreement, including the project changes. This position will be paid for by C-S and be a direct link between the two companies Project Structure 1. Span will hire at least ten new programmers within ten days of the effective date of the contract to speed the completion of the project 2. C-S will have the opportunity to review resumes of each individual hired for its project 3. Span will pay for all new employee training References University of Phoenix. (2008). Legal Environment of Business: Contract Creation and Management Simulation [Computer Software]. Retrieved October 26, 2008, from University of Phoenix, Simulation, LAW531 - Business Law. Jennings, Marianne. (2006). Business: It's Legal, Ethical, and Global Environment, 7 Edition, West Legal Studies in Business...

Words: 928 - Pages: 4

Employment Discrimination Analysis

...Running head: Discrimination in the Workplace Discrimination in the Workplace David Larkin University of Phoenix LAW531 January 10, 2009 Abstract For this assignment I read Chapter 20 in the assigned text as well as the scenarios and questions posed in the syllabus. The objective of this being, to analyze the scenarios given and answer the questions appropriately. Discrimination in the Workplace Scenario 1: “Just Good Fun” When Maria Suarez got her new job, she was happy. As an oil rigger, she would make enough money to support herself and her two children But after a week of working with a primarily male crew, her happiness was gone. Her coworkers were the reason. At first the men made unwelcome comments about her body. Then sexual graffiti mentioning her name appeared. When she came to work one morning a nude female picture was pinned to one of the rigs. Her name had been scrawled across the bottom. Maria complained to the crew foreman, who referred her to the site manager. “Let’s ignore it for a while,” he told Maria. “It’s just good fun. The men are testing you. You’ve got to fit in.” Question 1: What are Maria’s legal rights in this situation? Maria would be well within her legal rights to bring suit against her employer based on the information given. Moreover, according to Judge Kennedy’s opinion in the case of Burlington v. Ellerth, an employer is subject to vicarious liability to a victimized employee under certain conditions. The first condition is that...

Words: 599 - Pages: 3

The Legal System and Adr

...The Legal System and ADR University of Phoenix Law531 Michael Meeusen The Legal System and ADR Traditional litigation and ADR are two different ways to resolve a legal dispute. The use of traditional litigation takes you through a costly and lengthy trial before a judge and sometimes a jury. Whereas, ADR, also known as alternative dispute resolution, is a method of resolving legal dispute without going to trial. In the case of Rainy vs. Domino’s pizza, LLC traditional litigation was used but using ADR in the case may have been the better way to go. In the state court system this case would begin by the plaintiff, Paul Rainy filing a complaint. Then Domino’s pizza, LLC has to file an answer to the plaintiff’s case, which in this case they deny being vicariously liable for the plaintiffs’ injuries. The discovery process is the next step to state court system. At this point both parties will engage in activities to discover the facts of the case from all parties’ involved as well as witnesses (Cheeseman, 2013, p. 45). A deposition is one of many examples of discovery that can be used to provide detail in a legal dispute. In terms of a deposition a witness or party gives testimony pretrial, under oath, to be used as evidence during the actual trial. In the state court system the last step used before actually going to trial is a pretrial hearing or settlement conference (Cheeseman, 2013, p. 47). In this pretrial hearing both parties try to facilitate a...

Words: 708 - Pages: 3

Law531

...Riordan Corporate Compliance Plan LAW531 Professor John Huschen May 23, 2011 Riordan Corporate Compliance Plan Riordan Manufacturing is part of Riordan Industries; the company currently has around 550 employees and is worth $46 billion. “The company was founded by Dr. Riordan, a professor of chemistry, who obtained several patents relative to the processing polymers into high tensile strength plastic substrates” (Apollo Group, 2006). Dr. Riordan’s desire to become a successful business, reached new regions: Michigan, Georgia, and China. Alternative Dispute Resolution Alternative dispute resolution is part of Riordan Manufacturing’s new compliance plan and will be the primary method of resolving disputes versus litigation. In the event of problems, conflicts, or unfavorable action that may occur will evoke the need for alternative dispute resolution (ADR) measures. ADR should not be used to resolve personal issues in the workplace, only those that are work related or affect the production of work. In addition, ADR is a last resort measure and problems should be addressed by the immediate supervisor and employees are given avenues to report the dispute, which is by email and the company’s toll-free help line. The primary forms of ADR that Riordan Manufacturing will use are mediation and arbitration. “Mediation is a form of negotiation in which a neutral third .party assists the disputing parties in reaching a settlement of their dispute...

Words: 1307 - Pages: 6

Law531

...An ethical obligation of the employee, is to set standards that defines actions and tells the difference between right and wrong. Therefore, it's important for the employer to understand their ethical obligation to the company, because the employer must know when to take corrective and preventative action, to protect other employees who poses a danger. In addition, the employer must reach a solution to the problem, because it the employer has reasonable suspicion or irrefutable evidence of an employees behavior . And, the employer understands that the employee could case an dangerous environment. The manager should develop how the situation should be handled and what the resolution would entail. The ethical obligation is very important, because the managers job is to be a leader and role model to its employees. In addition to protecting the employees welfare in the work environment is extremely important. The manager must hold their obligation to protect its workers from any danger. An example of a employee that is in danger in the work place, is sexual harassment in the workplace. The term sexual harassment means, unwanted sexual advances, sexual favors that are requested and physical and verbal statement made to an employee without their permission. The Equal Employment Opportunity Commission (EEOC) explains that sexual harassment is not only directed towards women but men, and also groups of people instead just one individual. The effects that sexual harassment can...

Words: 621 - Pages: 3

Business Simulation

...Running head: BUSINESS REGULATION SIMULATION Business Regulation Simulation Bernice Davis Business Law LAW531 September 19, 2011 Alumina Inc. is a business that has “interests in automotive components and manufacture of packaging materials, bauxite mining, alumina refining, and aluminum smelting” (University of Phoenix, 2011). Five years ago, Alumina Inc. was in violation of environmental discharge due to a failed PAH concentration test that was above the prescribed limit (University of Phoenix, 2011). Kelly Bates has a daughter who is suffering from leukemia and is trying to establish negligence on Alumina Inc. and their violation from five years earlier. There are four torts that Alumina Inc. could be in violation with and they are intentional tort, unintentional tort, product liability and strict liability. Alumina Inc. will review if they have violated any of these torts and will try to settle with Kelly Bates. Intentional Tort An intentional tort is “a category of torts that requires that the defendant possessed the intent to do the act that caused the plaintiff’s injuries” (Cheeseman, 2010, p. 75). Alumina Inc. is having a suit brought against them that the environmental violation from five years ago contributed to Kelly Bates daughter’s leukemia. Alumina Inc. is faced with what the company should do in order to determine if such allegation is legitimate. The company decides it can either conduct independent site studies or investigate...

Words: 858 - Pages: 4

Law531 Sylly

...|[pic] |Instructor Policies | | |LAW531 | | |Business Law | |Facilitator Information                                                                                                       | | | |Monica Cosentino-Benedict | |mcosentinob@email.phoenix.edu (University of Phoenix) | |monicacosentino@yahoo.com (Personal) | |904-886-3205 (Eastern...

Words: 743 - Pages: 3

Adr Clause

...ADR Clause David Ortiz University of Phoenix LAW531 Tuesday May 1, 2012 Prof. Lirio Bernal Sanchez ADR Clause Alternative dispute resolution is a process that has gained popularity in solving conflicts because it helps in protecting the rights of the people and also to solve the problem in a less formal environment before it goes to a formal trial at court (Spangler, 2003) The alternative dispute resolution methods identified are Conciliation, Negotiation, Mediation, Arbitration, Mini-Trial, Fact-finding, and Judicial Referee. “The Administrative Dispute Resolution Act of 1996 permanently authorizes the use of ADR by federal agencies” (Disputes, 1998). Learning teams always present some discrepancies about the amount of work of each member, who will be leading the team, the commitment, and compliance levels. To avoid that the team should establish at the beginning the rules and make each member aware of them by acknowledging by e-mail the agreement that will have the methods to solve any discrepancies or conflicts and will be part of the Team Charter. The following clause will be included on the Learning Team Charter: “Each person has decided voluntarily to take this course and agree according to the University...

Words: 538 - Pages: 3

Riordan

.... Strict guidelines are set to ensure management and employees understand and obey the laws. First, we will implement compliance standards and procedures effective receipt of the plan. The program will then be executed with an in depth understanding of the compliance program as a whole. Authority will be delegated by each level of management with standards and methods being driven by c-level executives. Effective immediately training programs will be implemented to help all employees stay up to date with policy changes. Systems will have scheduled monitoring and will be auditing thoroughly by management. This plan is strictly enforced and all necessary disciplinary actions will be followed. Responding to company issues will be regulated according to the employee handbook which references the companies’ corrective actions. The Employee Handbook holds all employees responsible for carrying out the policies set forth in this compliance policy. In conclusion, this compliance policy is ultimately best for the legal and financial health of this company that benefits all of its stakeholders. Policy changes and strict enforcement to follow all environmental regulation legislation upholding Riordan’s mission and value statements is imperious. With all this compliance policy instated, the company has a bright future ahead following through on their promise to deliver quality products, a big promise. References Apollo Group, Inc.. (2004). Riordan Manufacturing [Multimedia].......

Words: 1162 - Pages: 5

Contract Creation and Management

... pointing out that the project was over 50% complete, the contract is past the point where either party can void the contract. This point should encourage C-S to resolve the dispute. Any action on their part to terminate the contract would place them in breach of the contract. This fact will help them realize that it is in their best interest to resolve schedule and performance issues. Although there was not enough information on whether a breach of contract under the requirements change clause, it is a good point to bring up to ensure C-S management is aware of the number of requirement changes that are occurring. The intellectual property rights clause is a good way of prohibiting C-S from talking with competitors on product remedies. This point is a strong arm tactic to let C-S know we won’t tolerate our property and programming methods to go to our competitors. Different approaches to the simulation If I were to attempt the scenario again, I would change the breach of contract under intellectual property rights. This was received negatively as the information about contract negotiations was incorrect. The approach I would use if I were to retry the scenario would be to point out the communications and reporting clause. Most contract disputes are caused by willful neglect, but rather from miscommunication. If the clause was exercised from the beginning of the project, it is doubtful that this dispute would have occurred from the......

Words: 963 - Pages: 4

Litigation

...Traditional and Nontraditional Litigation Tina Posey University of Phoenix LAW531 June 21, 2012 David L. Wilson Traditional and Nontraditional Litigation People break laws, people do not agree, civil suits filed, and litigation begins. Litigation is closely identified with civil law or tort law and the bringing of lawsuits. Lawsuits are legally authorized controversies judged by a court of law, and when one individual sues another individual, they are engaging in litigation law. The purpose of a lawsuit is to remedy an injustice or to enforce a right (HG, 1995-2012). Litigation is a contest authorized by law, for the purpose of enforcing a right. Litigation is the process of bringing, maintaining, and defending a lawsuit (Cheeseman, 2010). Litigation usually involves representation by a lawyer, but a lawyer is not requried. The litigation begins by one person filing a lawsuit with the court. The process for litigation has steps the plaintiff and defendant must follow. The party who is suing begins by filing a complaint with the proper court. This party is known as the plaintiff. The plaintiff initiates the court proceedings, and the court issues a summons. A third party serves the summons and the complaint on the defendant to initiate the lawsuit. The defendant writes a written response to the complaint called an answer. The defendant files the answer with the court and served by a third party on the plaintiff (Cheeseman, 2010). In the...

Words: 972 - Pages: 4