Exam 37: Introduction to Forms of Business and Formation of Partnerships
Exam 1: The Nature of Law58 Questions
Exam 2: The Resolution of Private Disputes60 Questions
Exam 3: Business and the Constitution61 Questions
Exam 4: Business Ethics, Corporate Social Responsibility, Corporate Governance, and Critical Thinking61 Questions
Exam 5: Criminal Law and Procedure69 Questions
Exam 6: Intentional Torts67 Questions
Exam 7: Negligence and Strict Liability68 Questions
Exam 8: Intellectual Property and Unfair Competition71 Questions
Exam 9: Introduction to Contracts69 Questions
Exam 10: The Agreement: Offer70 Questions
Exam 11: The Agreement: Acceptance68 Questions
Exam 12: Consideration69 Questions
Exam 13: Reality of Consent70 Questions
Exam 14: Capacity to Contract66 Questions
Exam 15: Illegality68 Questions
Exam 16: Writing70 Questions
Exam 17: Rights of Third Parties70 Questions
Exam 18: Performance and Remedies70 Questions
Exam 19: Formation and Terms of Sales Contracts68 Questions
Exam 20: Product Liability70 Questions
Exam 21: Performance of Sales Contracts70 Questions
Exam 22: Remedies for Breach of Sales Contracts68 Questions
Exam 23: Personal Property and Bailments69 Questions
Exam 24: Real Property70 Questions
Exam 25: Landlord and Tenant69 Questions
Exam 26: Estates and Trusts70 Questions
Exam 27: Insurance Law70 Questions
Exam 28: Introduction to Credit and Secured Transactions69 Questions
Exam 29: Security Interests in Personal Property68 Questions
Exam 30: Bankruptcy70 Questions
Exam 31: Negotiable Instruments70 Questions
Exam 32: Negotiation and Holder in Due Course68 Questions
Exam 33: Liability of Parties70 Questions
Exam 34: Checks and Electronic Transfers69 Questions
Exam 35: The Agency Relationship70 Questions
Exam 36: Third-Party Relations of the Principal and the Agent71 Questions
Exam 37: Introduction to Forms of Business and Formation of Partnerships70 Questions
Exam 38: Operation of Partnerships and Related Forms70 Questions
Exam 39: Partners Dissociation and Partnerships Dissolution and Winding up69 Questions
Exam 40: Limited Liability Companies, Limited Partnerships, and Limited Liability Limited Partnerships70 Questions
Exam 41: History and Nature of Corporations69 Questions
Exam 42: Organization and Financial Structure of Corporations70 Questions
Exam 43: Management of Corporations70 Questions
Exam 45: Securities Regulation70 Questions
Exam 46: Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals70 Questions
Exam 47: Administrative Law70 Questions
Exam 48: The Federal Trade Commission Act and Consumer Protection Laws69 Questions
Exam 49: Antitrust: the Sherman Act70 Questions
Exam 50: The Clayton Act, the Robinson-Patman Act, and Antitrust Exemptions and Immunities70 Questions
Exam 51: Employment Law69 Questions
Exam 52: Environmental Regulation70 Questions
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Regarding the formation of a general partnership,which of the following is not a legal requirement but has been described as "highly desirable"?
(Multiple Choice)
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The decision on what form of business to make a startup business is important because it will affect how much the business owner is liable and has control over the new business.
(True/False)
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Under the doctrine of purported partners,a third party may hold liable persons who purport to be partners.
(True/False)
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A sole proprietorship is a legal entity separate from its owner.
(True/False)
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Which of the following is NOT an essential characteristic of a limited liability company (LLC)?
(Multiple Choice)
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Which of the following is an advantage of a sole proprietorship?
(Multiple Choice)
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A limited partner in a limited partnership has the right to manage the limited partnership business.
(True/False)
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Which of the following is not a necessary element of the definition of partnership according to the RUPA?
(Multiple Choice)
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A group of individuals can form a partnership for the nonprofit business that provides charitable services.
(True/False)
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If a partnership leases a building that belongs to one of the partners,the property is said to be owned by the partnership.
(True/False)
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Sue has transferred her transferable interest of the partnership business to her creditor to discharge her debt.However,Sue is an efficient manager and she still manages the business,even after the transfer.Is she still a partner?
(Essay)
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If a third party deals with a person who appears to be the partner of another person,and the third party is harmed,it may recover damages under:
(Multiple Choice)
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A(n)_____ is a limited partnership whose partners have elected limited liability status for all the partners.
(Multiple Choice)
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Abe and Carlos want to form a general partnership.What must they do in order to create this legal form of business?
(Multiple Choice)
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