Which of the following is a partnership?
Question 1.1.Isabel invents a new type of exercise shoe, which she calls the “Super Soul.” To protect the name of her product, Isabel should get a: (Points : 1)
Question 2.2.Which of the following has NOT been a criticism of the Supreme Court’s decision in Citizens United v. Federal Election Commission? (Points : 1)
It allowed corporations to play too major a role in political campaigns.
It allowed too much anonymity in money spent to influence campaigns.
It overly restricted freedom of speech.
All persons’ rights are not identical.
Question 3.3.Aaron and Jerard form a partnership, with Aaron as general partner and Jerard as a limited partner. Which of the following is true? (Points : 1)
Aaron will be fully personally liable for business debts.
Jerard will not be personally liable for business debts.
If Jerard dies, the partnership will dissolve.
Two of these
Question 4.4.Which of the following is a partnership? (Points : 1)
Jennifer and Brad each put in $20,000 to buy a high interest Certificate of Deposit, intending to cash it at maturity and split the money equally.
Allen, Bianca, and Caroline jointly run an organization offering free advice to LGBT teenagers.
Peyton and Eli, who invest $50,000 and $75,000 respectively, buy a bookstore and run it together.
All of these are partnerships.
Question 5.5.Josh parks his car in a self-service parking ramp, taking a ticket as he enters and leaving his car on the second level. His car is stolen. If Josh sues the owner of the ramp (Points : 1)
Josh wins; this is a bailment.
Josh wins, unless there was a sign disclaiming responsibility.
the owner wins; this is not a bailment.
the owner wins; Josh assumed the risk of parking in the ramp.
Question 6.6.Cary, Dean, and Madeline are partners in a furniture store. While on his way to deliver some furniture to a customer, Cary accidentally runs over Pamela Pedestrian. Pamela sues the partnership. Which of the following is true? (Points : 1)
Cary is liable to Pamela.
All three partners are liable to Pamela.
Cary is liable to his partners for breaching his duty as an agent for the partnership.
All of these
Question 7.7.Personal property is defined as (Points : 1)
property which is owned by an individual.
property which is fixed in an object.
property which is attached to land.
Question 8.8.Laura gives her neighbor Jack the right to use Laura’s driveway to access his garage, since it is easier than going around by the alley. This is an example of: (Points : 1)
A tenancy in common
Question 9.9.Attorneys Arianna and Alexander share an office that has a sign reading: “A & A, a law firm.” Their billing invoices have both their names on them, and they deposit their earnings and cover the rent from the same account. They do not share profits or have any agreement to be partners. Dexter, a client of Arianna’s for the past two years, sues both Arianna and Alexander, alleging that Arianna committed malpractice. If Dexter wins in court and is awarded $50,000 in damages, who is liable to him? (Points : 1)
Either Arianna or Alexander, but not both
Both Arianna and Alexander
Question 10.10.Cary, Dean, and Madeline are partners in a furniture store. Madeline wants to buy some antiques from an upcoming estate sale. Dean thinks it’s a good idea, but Cary says it is too pricey. Madeline goes ahead and buys the antiques. Which of the following best describes the situation? (Points : 1)
All three partners must agree on the furniture purchase.
The estate can hold the partnership liable, but Madeline has breached her duty to the partnership.
Cary will not be liable to the estate on the antiques contract.
The partnership and all three partners will be liable on the contract for the antiques.