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Question
Phil enters into a contract with Quality Resorts, Inc., to work as a chef. Under the plain meaning rule, the meaning of this contract must be deÂterÂmined by reference toa. any available evidence.
b. any relevant extrinsic evidence.
c. the face of the instrument.
d. the later testimony of the parties.
Answer
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Related questions
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Mitch is a director and officer of Numero Uno, Inc. Mitch makes a marÂketÂing decision that results in a dramatic decrease in profits for Numero Uno and its shareholders. The shareholders accuse Mitch of breaching his fiduciÂary duty to the corporation. What is Mitch's best defense against this acÂcuÂsation? Later, a resolution comes before the Numero Uno board to compete with One-of-a-Kind Corporation. Mitch is a direcÂtor and shareholder of One-of-a-Kind. What is Mitch's responsibility in this situation?
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b. a right of first refusal.
c. a sufficient number of shares to exercise de facto control.
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Start-Up Corporation substantially complies with all conditions preceÂdent to incorpoÂration. Start-Up has
a. corporate existence by estoppel.
b. de facto existence.
c. de jure existence.
d. ultra vires existence.
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Like the bylaws of other corporations, the bylaws of Farmland Equipment, Inc.,
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A director must make a full disclosure of any potential conflict of interest that might arise in any corporate transaction.
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The first step in the incorporation process is to select a state in which to operate.
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An S corporation is treated the same as a regular corporation for tax purposes
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Cecilia's Day Spa, LLC, is a member-managed limited liability company. If the law in Cecilia's state is like the law in most states, unless the members have agreed otherwise, voting rights are apportioned according to
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CPA Accounting, LLC, is a limited liability company. If the law in CPA's state is like the law in most states, unless the members have agreed otherÂwise, participants in the firm's management will be considered to include
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d. does not dissolve.
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d. partners in a partnership for two years.
Q:
Kelly, the owner of Llama Farms, a sole proprietorship, wants to obtain additional busiÂness capital but to maintain control. This can best be acÂcomplished by
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d. "heft," "substance," or "weight" in the terms of the contract.
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A covenant not to compete in the sale of an ongoing business is unenforceable.
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If there is a statute that prohibits a certain action, a contract to do it is unenforceable.
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On May 1, Brand Name Industries, Inc. (BNI), sent Carol a letter, via overnight delivery, offering to employ her to audit BNI's financial stateÂments for the current year for $1,000. In the letter, BNI stated that Carol had ten days to accept. On May 5, Carol sent BNI a fax that stated, "The price for the audit seems too low. Would you consider paying $1,200?" BNI received the fax. The next day, Dan offered to conduct the audit for $800. On learning of Dan's offer, Carol immediately e-mailed BNI, agreeÂing to do the work for $1,000. BNI received this e-mail on May 7. Explain why BNI and Carol do, or do not, have a contract.
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Michelle gives out a business card with an e-mail address on it. According to the comments that accompany the UETA, it may be reasonable to infer that Michelle has consented to
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d. nothing.
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Howie enters into a contract with Ida over the Internet to buy soybeans as a hedge against falling prices in corn. Neither party prints out a hard copy. Under the Electronic Signatures in Global and National Commerce Act (E-SIGN Act), this contract can
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b. be "denied legal effect" unless a hard copy is printed.
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d. not be "denied legal effect" because it is only in electronic form.
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b. Magic Math and Peg only.
c. Magic Math, National Distribution, Office Stuff, and Peg.
d. Office Stuff and Peg only.
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b. received.
c. sent.
d. written.
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Sunshine Cell Phone Company offers to buy a laser printer, with a case of paper and an extra carÂtridge, from Office Products, Inc. (OPI), for $200. Paul, OPI's representative, says, "Okay, but no paper and no extra carÂtridge." Paul has
a. accepted the offer.
b. made a counteroffer without rejecting the offer.
c. rejected the offer and made a counteroffer.
d. rejected the offer without making a counteroffer.
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Brick Products, Inc., files a suit against City Trucking Service for breach of contract, based on what Brick claims was City's offer. For a court to deÂtermine if a contract has been breached, under the common law, the offer must include terms that are
a. exactly precise.
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c. unequivocally approximate.
d. vague or uncertain.
Q:
Fanny tells Eden that she will sign a lease if it includes a clause permitting Fanny to exÂtend the lease at the same amount of rent. Fanny's intent to sign the lease is determined by reference to Fanny's
a. assumptions.
b. beliefs.
c. unspoken opinions.
d. words and action.
Q:
If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.