Liberty University BUSI 301 quiz 3 complete Answers | Rated A+$ 10.00

Liberty University BUSI 301 quiz 3 complete Answers | Rated A+

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Courts apply a subjective standard when examining the existence of offer and acceptance by the parties when they created an agency relationship.

The centerpiece of a fiduciary relationship is the agent’s duty to act with due care when performing the responsibilities of the agency.

If an agent acts in a disloyal manner and realizes a personal profit from his or her acts, the court may order a return of the funds, which is called:

The Social Security Act is funded through mandatory employment taxes paid by both the employer and the employee.

Leah is a first-year elementary school teacher at a private religious school. The parents and kids love her, and she gets along with everyone. One month after starting, she’s called into the headmaster’s office and handed an envelope containing spring-break college photos of her topless, guzzling beer and alcohol, while sitting in various men’s laps. The headmaster informs her that she is terminated immediately and that she must clean out her desk and remove all personal belongings by the end of the day. She demands to know where the headmaster got these photos, and he tells her that the school monitors social networking sites. These pictures had been posted to a site she no longer uses and had forgotten about. She will be successful if she sues for wrongful termination based on invasion of privacy.

The Fair Labor Standards Act imposes restrictions on hiring workers under:

Which of the following is also called the Taft-Hartley Act?

Under the Age Discrimination in Employment Act, substantially younger is not defined, but many courts follow the general rule that the age difference must be 10 years in order to qualify as substantially younger.

An employee must file charges of illegal discrimination with the EEOC generally within ________ days of the adverse job action.

Under the Age Discrimination in Employment Act, to maintain a valid claim, the replacement employee must be substantially younger than the terminated employee and must be a member of a recognized protected class.

In cases where a partner has engaged in some misconduct or tortious conduct, a limited liability partnership (LLP) acts to shield:

A limited liability company (LLC) is formed by filing _____ with the state public filing official in the secretary of state’s corporation bureau.

Limited liability companies (LLCs) are frequently governed by agreement of the parties in the form of a statement of qualification.

Which of the following statements accurately differentiates between the management of a limited liability company (LLC) and a limited
liability partnership (LLP)?

The Revised Uniform Limited Partnership Act (RULPA) formally requires a partnership agreement to govern a limited partnership.

Which of the following statements accurately differentiates between a general partnership and a limited partnership?

In choosing a business entity, principals of the business should consider the extent to which they are personally liable for debt and other contract or tort liabilities of the business entity itself.

Which of the following is true of taxation in a C corporation?

The Revised Model Business Corporation Act (RMBCA) provides that anyone purporting to act on behalf of a corporation, knowing incorporation has not yet occurred, is jointly and severally liable for all liabilities created by the acts.

Matthew Granger is a member of the board of directors at Produxicore Inc. Over a period of one year, Matthew failed to attend most of the board meetings claiming that he was unaware of their occurrence. During the meetings that he did attend, he was not up-to-date with the company’s developments. He did not read the reports he was presented and was unfamiliar with the company’s financial records. In this scenario, Matthew Granger breached his duty of care primarily through _____.

One who has experience, business savvy, and knowledge of a market to the extent that the law imputes a certain cognizance of investment risk and the ability to protect his or her own interests is referred to as a(n):

A primary market is one in which investors buy and sell issued securities among themselves.

The Private Securities Litigation Reform Act (PSLRA) of 1995 provides safe harbors from lawsuits that shield a company and its officers and directors so long as the principals acte

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