Please help to Complete the final exam. NEED ASAP!!

Please help to Complete the final exam. NEED ASAP!!

admin / August 17, 2018

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Section I. Multiple Choice: DO NOT COPY Multiple Choice QUESTIONS. Put letter of correct answer on the answer sheet at the bottom of this page. There…

Please help to Complete the final exam. NEED ASAP!!

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Section I. Multiple Choice: 20 questions/40 points
USE THE ANSWER SHEET
included at the bottom of this page for answers; copy and paste it
as is, no changes, please.
DO NOT COPY Multiple Choice QUESTIONS.
Put letter of correct answer on the answer sheet at the bottom of this page.
There is only
one correct answer to each question.
Each question is worth 2 points.
This is an application-oriented exam; you will not find the answer to questions verbatim in the
text. If you believe a question is not covered in any of the assigned materials, you have missed
the issue and need to re-think.
1. Kevin is the sole proprietor of Triathletics, an athletic shoe business. Taxes for Triathletics’s
business income are paid by whom?
A.
Kevin as the sole owner.
B.
If Kevin acquired a Small Business Administration loan to start his business, the
business taxes are deferred for 5 years.
C.
No one; sole proprietorships have no business taxes.
D.
The business entity of Triathletics, not Kevin personally.
2. Bob’s Bait Shop sells bait and other fishing goods in the state of Delaware. Recently,
Delaware passed a law prohibiting, until further notice, all businesses in Delaware from selling
rockfish for bait. Delaware claims this law is necessary because it was discovered that rockfish
in several surrounding states are infected with bacteria. Is this law constitutional?
A.
Yes, it is constitutional under Delaware’s police power and authority to protect the
health and safety of citizens.
B.
Yes, it is constitutional as the sale of rockfish affects intrastate commerce and
Delaware can regulate intrastate commerce for any reason.
C.
No, it is unconstitutional as it violates the constitutional rights of private
businesses to be free of state regulation and restrictions.
D.
No, it is unconstitutional as the law imposes an undue burden on interstate
commerce.
3. Larry and Jane orally agreed that Larry would sell Jane a house for $600,000. Jane paid
Larry $600,000; Larry gave the deed to the house to Jane. Jane moved into the house. About 6
weeks later, Larry tried to retake possession of the house claiming the contract for the sale was
invalid because it was oral, not written. Larry sued Jane to invalidate the contract and retake the
house.
The sales contract between Larry and Jane is:
A.
Valid and enforceable; the contract was fully executed so Larry cannot rescind the
contract.

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B.
Valid and enforceable; the contract should have been written as it was a sale of
real estate, but because Jane paid full price for the house, Larry cannot reclaim
the house.
C.
Invalid; all real estate sales contracts must be written according to the Statute of
Frauds.
D.
None of the above.
4. Cindy and Joel, a married couple who are residents of Utah, were hiking in Nevada when a
dog being walked by its owner, Walter, bit Cindy causing injury to her leg. Joel wants to sue
Walter, a resident of Colorado. Which of the following best describes Joel’s legal right to sue in
this case.
A.
Joel has standing to sue Walter, but only in federal court since Colorado, Nevada
and Utah state courts all meet the minimum contacts test for jurisdiction.
B.
Joel has standing to sue Walter, but only in Nevada because neither Colorado nor
Utah meet the minimum contacts test for jurisdiction.
C.
Joel does not have standing to sue Walter because Walter is not a resident of
Nevada where the injury occurred.
D.
Joel does not have standing to sue Walter in Utah, Nevada, or Colorado.
5. Josie hired Zoe, who is 15 years old, to buy 5 grand pianos on Josie’s behalf.
What is the legal relationship between Josie and Zoe?
A.
This is a valid agency relationship; although Zoe is a minor Josie has the option
of disaffirming any contracts Zoe enters on Josie’s behalf.
B.
This is a valid agency relationship; although Zoe is a minor Josie is bound by
authorized contracts Zoe enters on Josie’s behalf.
C.
This is a valid agency relationship; although Zoe is a minor, Zoe cannot receive
any payment from Josie under the terms of the agency because Zoe is a minor.
D.
This is an invalid agency relationship because Zoe is a minor.
6. Coyle Construction Company blasted a hole for a new building’s foundation. The blasting
went according to plan, and no problems or damage to the surrounding area occurred as a
result. However, about an hour after the blasting for the foundation, an extra box of dynamite,
sitting on the construction site, spontaneously exploded and damaged a house next to the
construction site.
If the owner of the house sues Coyle, what will be the likely result?
A.
Not liable under strict liability because Coyle did not actually ignite the dynamite.

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