Mid Term

Mid Term - Autograde Summary Date Taken: 11/13/2009 8:49:23...

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Autograde Summary Date Taken: 11/13/2009 8:49:23 AM Time Spent: 1:49:07 (3:00 allowed) Points Received: 47 / 60 (78.3%) These are the automatically computed results of your exam. Grades for essay questions, and comments from your instructor, are in the "Details" section below. Question Type: # Questions: # Correct: True/False 22 17 Multiple choice 19 15 Grade Details 1. Question: An example of a franchise is McDonalds. Your Answer: True CORRECT False Instructor Explanation: See week 2 lecture. Points Received: 1 of 1 2. Question: One of the biggest weaknesses of federal bankruptcy law is that it has no way to prevent debtors from favoring certain parties by making preferential payments to them before going bankrupt. Your Answer:
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Instructor Explanation: p 924. Points Received: 0 of 1 3. Question: Bob has not paid his ex-wife alimony as required under court order. His ex-wife is trying to collect the alimony. Bob files a bankruptcy petition. This automatically stays his ex-wife's collection efforts. Your Answer: Instructor Explanation: p 772 Points Received: 1 of 1 4. Question: Julie buys her first car, taking out a loan to do so. Her Dad co-signs the loan so that he is equally liable with Julie. Dad is a guarantor. Your Answer: Instructor Explanation: p 720 Points Received: 0 of 1 5. Question: Shareholders have a right of full participation in board of directors' meetings. Your Answer:
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Instructor Explanation: p 1084 Points Received: 1 of 1 6. Question: A right of first refusal on a share certificate allows the corporation to match the offer that a selling shareholder receives for his shares. Your Answer: Instructor Explanation: p 1041 Points Received: 1 of 1 7. Question: A straight bankruptcy is also known as a Chapter 7 bankruptcy. Your Answer: Instructor Explanation: See week 4 lecture Points Received: 1 of 1 8. Question: A principal can ratify a contract even if the agent had no authority to enter into the contract on behalf of the principal.
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Your Answer: Instructor Explanation: Ch 36 Points Received: 1 of 1 9. Question:
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This note was uploaded on 06/08/2010 for the course MG 261DLB taught by Professor Johnhutcherson during the Spring '10 term at Park.

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Mid Term - Autograde Summary Date Taken: 11/13/2009 8:49:23...

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