Need help with Business Law question
1. Which of the following is a partnership?a) Jennifer and Brad each put in $20,000 to buy ahigh interest Certificate of Deposit, intending to cash it at maturity andsplit the money equally.b) Allen, Bianca, and Caroline jointly run anorganization offering free advice to LGBT teenagers.c) Peyton and Eli, who invest $50,000 and $75,000respectively, buy a bookstore and run it together.d) All of these are partnerships. 2. Which of thefollowing does NOT have the advantage of single taxation?a) Sole proprietorshipsb) Partnershipsc) Corporationsd) LLCs 3. Jake moves into anempty house. The owner lives down the block, and sees Jake coming and goingperiodically. Before Jake moved in, the house was often vandalized, but Jakeseems to be taking care of it. After 20 years, the law declares Jake to be theowner of the property. This is an example of:a) Accessionb) An easementc) Adverse possessiond) An implied tenancy 4. Brandon, anofficer for Beta Inc., contracts with Office Stuff for five new copy machines.The copiers are delivered, but Beta does not pay for them. Office Stuff sues. Which of the followingbest describes the situation? a) Brandon is liable, Beta is not.b) Brandon and Beta are both liable.c) Beta is liable; Brandon is not.d) Neither Beta nor Brandon are liable. 5. Tamsyn is apromoter for Akers Inc., which is in the process of being formed. Tamsyn makesa contract with Lyle to rent warehouse space for Akers. Once Akers is formed,the board decides to buy a warehouse instead of renting. Who is liable to Lyle?a) Tamsynb) Akers Inc.c) The board of directors for Akers Inc.d) All of these 6. Anna gathersleaves that have fallen from a neighbor’s tree onto the sidewalk and makes theminto an elaborate collage. Anna owns the collage by?a) Manufactureb) Accessionc) Giftd) Eminent domain .7. Generally, thelaw presumes that the renter of an apartment will a) fix a leaky faucet.b) fix a leaky roof.c) give at least 60 days notice that he is leaving.d) show the apartment to prospective buyers if thebuilding is for sale. 8. Which of thefollowing has NOT been a criticism of the Supreme Court’s decision in CitizensUnited v. Federal Election Commission? a) It allowed corporations to play too major a rolein political campaigns.b) It allowed too much anonymity in money spent toinfluence campaigns.c) It overly restricted freedom of speech.d) All persons’ rights are not identical.9. Carmen tells Jason, “I just found out I have cancer and Iprobably only have a month to live, so I’m giving you my oil painting, ‘Flowersin a Vase’.” Jason commiserates over her impending death, thanks her, and takesthe painting. This illustrates:a) A gift inter vivosb) A gift causa mortisc) An irrevocable giftd) A revocable gifte) Two of these 10. Attorneys Ariannaand 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 theirearnings and cover the rent from the same account. They do not share profits orhave any agreement to be partners. Dexter, a client of Arianna’s for the pasttwo years, sues both Arianna and Alexander, alleging that Arianna committedmalpractice. If Dexter wins in court and is awarded $50,000 in damages, who isliable to him? a) Only Ariannab) Only Alexanderc) Either Arianna or Alexander, but not bothd) Both Arianna and Alexander
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