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Question
The Alabama Consumer Protection Agency (ACPA) investigates the marketing practices of Beta Sales, Inc. The ACPA serves a subpoena on Beta, ordering the firm to provide certain business records, including its marketing agreements with other companies. Beta refuses to comply with the subpoena. On what is Beta most likely basing its refusal? Is a court likely to support Beta's position? Why or why not?Answer
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Related questions
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a. preferred stock.
b. a right of first refusal.
c. a sufficient number of shares to exercise de facto control.
d. watered stock.
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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.
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d. ultra vires existence.
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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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c. dissolves immediately on Iggy's signing of the second contract.
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b. not partners, because the pay includes an hourly wage.
c. not partners, because the pay includes only 10 percent of the profits.
d. partners in a partnership for two years.
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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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b. bringing in partners.
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b. unenforceÂable because it is not supported by consideration.
c. unenforceÂable because the dollar amount is missing.
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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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a. transact business electronically.
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c. accept and respond to any correspondence sent to that address.
d. nothing.
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b. be "denied legal effect" unless a hard copy is printed.
c. be "denied legal effect" until it is executed.
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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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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
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c. unequivocally approximate.
d. vague or uncertain.
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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.
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If an offeror does not expressly authorize a certain mode of acceptance, then acceptance may be made by any reasonable means.