Question 1

Which of the following statements is false regarding a general partnership?

Accepted Answer

A)  It is easy to create.
B)  The partners are considered agents of the partnership.
C)  Business losses can be deducted from taxes.
D)  Income of the business is personal income.
E)  In most cases partners do not have personal liability for losses.F) C) and D)
G) A) and B)

Question 2

Define a joint venture and set forth two differences under the law between a joint venture and a partnership.

Accepted Answer

A joint venture is a relationship betwee...

Question 3

Will Rashi likely be held liable to Jonah?

Accepted Answer

A)  Yes,because the cookies had her name on them.
B)  Yes,but only if Lola is insolvent.
C)  No,because she was a franchisor.
D)  Yes,but only if Lola has officially filed for bankruptcy protection.
E)  It is unclear and depends on whether she exercised too much authority in the day-to-day affairs of Lola's business.F) A) and C)
G) B) and D)

Question 4

What was the result in Patterson v.Dominos' Pizza,LLC,the case in the text addressing whether a franchisor can be held vicariously liable by a franchisee's employee for sexual harassment,retaliation,and tort claims?

Accepted Answer

A)  The franchisor was vicariously liable for sexual harassment by the franchisee because it was the plaintiff's employer.
B)  The franchisor failed to remedy sexual harassment by the franchisee,and thus was vicariously liable.
C)  The franchisor was not vicariously liable for sexual harassment by the franchisee because it was not the plaintiff's employer.
D)  The case was remanded to the trial court to determine whether the franchisor stands in an employment or agency position in relation to the franchisee and its employees,in order to determine if the plaintiff-employee can pursue her claims against the franchisor.
E)  The franchise agreement governed whether or not the franchisor was vicariously liable for sexual harassment by the franchisee.F) B) and C)
G) All of the above

Question 5

In which of the following does the franchise operate under the franchisor's business name and act subject to the franchisor's standards and methods of business operation?

Accepted Answer

A)  Manufacturing arrangement
B)  Distributorship
C)  Approved business franchise
D)  Acknowledged standards operation
E)  Chain-style business operationF) A) and B)
G) All of the above

Question 6

From which of the following countries did Mexico adopt the limited liability company model?

Accepted Answer

A)  Germany
B)  Italy
C)  Canada
D)  The United States
E)  SpainF) A) and C)
G) B) and C)

Question 7

What was the result in Meyer v.Christie,the case in the text involving whether an agreement to enter into a joint venture existed?

Accepted Answer

A)  That no joint venture existed because there was evidence contrary to the intent to form a joint venture.
B)  That while a joint venture existed,no damages were found.
C)  That a joint venture existed with no prohibition against damages.
D)  That the evidence showed only an anticipatory agreement to form a joint venture in the future,not the actual formation of a joint venture.
E)  That any alleged joint venture agreement was unenforceable under the statute of frauds because it was premised upon an unenforceable oral agreement to purchase and transfer land.F) A) and D)
G) B) and C)

Question 8

[Language-Science Kits] The president of Kool Science,Inc. ,which makes educational science kits for children,calls the president of Language Fun,Inc. ,which makes foreign language learning materials for children.They discuss production of three educational toys which teach both science and foreign language to children.They agree that Kool will work with Language to create and market the three toys,and that they will use Kool's manufacturer to produce the product.
-What type of business organization is best suited for the situation of Kool Science and Language Fun?

Accepted Answer

A)  Cooperative.
B)  Corporation
C)  Joint Venture.
D)  Business Trust
E)  General partnershipF) A) and B)
G) B) and C)

Question 9

Describe a franchise that is a distributorship and give an example of a distributorship.

Accepted Answer

Distributorships are franchises in which...

Question 10

Under which of the following types of business organization is the ownership transferable to another person?

Accepted Answer

A)  Limited liability company and corporation,but not sole proprietorship or general partnership.
B)  General partnership,limited liability company,and corporation,but not sole proprietorship.
C)  Corporation and general partnership,but not sole proprietorship nor limited liability company.
D)  Corporation,but not sole proprietorship,general partnership,nor limited liability company.
E)  Sole proprietorship,general partnership,limited liability company,and corporation.F) B) and D)
G) D) and E)

Exam 35: Forms of Business Organization

What was the result in Patterson v.Dominos' Pizza,LLC,the case in the text addressing whether a franchisor can be held vicariously liable by a franchisee's employee for sexual harassment,retaliation,and tort claims?

Correct Answer
verified

Correct Answer
verified

In which of the following does the franchise operate under the franchisor's business name and act subject to the franchisor's standards and methods of business operation?

Correct Answer
verified

Describe a franchise that is a distributorship and give an example of a distributorship.

Correct Answer
verified
Distributorships are franchises in which...
View Answer

Under which of the following types of business organization is the ownership transferable to another person?

Correct Answer
verified

What was the result in Meyer v.Christie,the case in the text involving whether an agreement to enter into a joint venture existed?

Correct Answer
verified

Which of the following statements is false regarding a general partnership?

Correct Answer
verified

Will Rashi likely be held liable to Jonah?

Correct Answer
verified

From which of the following countries did Mexico adopt the limited liability company model?

Correct Answer
verified

Define a joint venture and set forth two differences under the law between a joint venture and a partnership.

Correct Answer
verified
A joint venture is a relationship betwee...
View Answer

Exam 35: Forms of Business Organization

What was the result in Patterson v.Dominos' Pizza,LLC,the case in the text addressing whether a franchisor can be held vicariously liable by a franchisee's employee for sexual harassment,retaliation,and tort claims?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In which of the following does the franchise operate under the franchisor's business name and act subject to the franchisor's standards and methods of business operation?

Correct AnswerverifiedShow Answer

Describe a franchise that is a distributorship and give an example of a distributorship.

Correct AnswerverifiedDistributorships are franchises in which...View AnswerShow Answer

Under which of the following types of business organization is the ownership transferable to another person?

Correct AnswerverifiedShow Answer

What was the result in Meyer v.Christie,the case in the text involving whether an agreement to enter into a joint venture existed?

Correct AnswerverifiedShow Answer

Which of the following statements is false regarding a general partnership?

Correct AnswerverifiedShow Answer

Will Rashi likely be held liable to Jonah?

Correct AnswerverifiedShow Answer

From which of the following countries did Mexico adopt the limited liability company model?

Correct AnswerverifiedShow Answer

Define a joint venture and set forth two differences under the law between a joint venture and a partnership.

Correct AnswerverifiedA joint venture is a relationship betwee...View AnswerShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Distributorships are franchises in which...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A joint venture is a relationship betwee...
View Answer