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Presentation/PPT
27/08/2022
53.A enters into a contract with B to provide surface material for A’s tennis courts by April 1 for a tournament to begin May 1. The contract specifies an amount to be paid if the contract is breached. This is a liquidated damages clause if the amount is a.an excessive estimate of the loss on a breach. b.a reasonable estimate of the loss on a breach. c.designed to penalize the breaching party. d.intended to quickly provide cash to the nonbreaching party. 93.Chuck and Dolph are partners in Eden Apartments, a new general partnership and business enterprise. As general partners, Chuck and Dolph are subject toA) liability limited to the amount of their investment in Eden.B) liability limited to the deductible on Eden’s insurance policy.C) no liability.D) personal liability for Eden’s debts and obligations.94.Stef is starting a small machine shop—Thunder Road Hydraulics—and is considering whether to organize the business as a limited liability company or a limited liability partnership. Both formsA) do not limit their owners’ personal liability for business debts.B) limit their owners’ personal liability for business obligations.C) obviate the need to obtain insurance for business liability risks.D) require their owners to obtain insurance for business liability risks.95.Howie operates Island Burger Restaurant as a corporation. A customer slips and breaks her ankle in the restaurant and is awarded damages by a court. Those damages must be paid byA) Howie only.B) Island Burger only.C) Howie and Island Burger.D) neither Howie nor Island Burger.96.Dana and Etta operate Fast Bikes, a bicycle shop, as a partnership. Taxes on the business’s income are paid byA) Dana and Etta only.B) Dana, Etta, and the business.C) not Dana, Etta, or the business.D) the business only.97.Seafood Restaurant Company pays income and other taxes collected by the Internal Revenue Service (IRS). Like other federal administrative agencies, the IRS was created byA) Congress, through enabling legislation.B) the courts, through the adjudicatory process.C) the U.S. Constitution, through the _ Amendment.D) the U.S. Department of the Treasury, through a final order.98.The U.S. Fish and Wildlife Service utilizes notice-and-comment rulemaking. This involves a period during whichA) judges, legislators, and the president are asked about a proposed rule.B) potential violators of a proposed rule are notified and publicized.C) the administrators “notice” a problem and “comment” on it.D) the public is asked to comment on a proposed rule.99.In reviewing the actions of the U.S. Office of Nuclear Energy and other agencies, the courtsA) are usually reluctant to review questions of fact.B) rarely defer to the technical expertise of administrative agencies.C) often rule on the merits of policy determinations.D) all of the choices.100.Nursing Home Care Company is charged with violating a rule of the Social Security Administration. Most likely, Nursing Home Care will be required to appear at a hearing presided over byA) a federal appellate court judge.B) a federal district court judge.C) an administrative law judge.D) a U.S Marshal.
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