SLIDES for exam2

SLIDES for exam2 - SLIDES for exam #2 Agents and principals...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
SLIDES for exam #2 Agents and principals each owe a fiduciary duty to the other (lawyer=agent) True Adam is negligent while driving through the Wendy’s parking lot. UPS is liable because Adam was on a detour Adam is negligent while driving out of the Gil’s K-9 bar parking lot after drinking three beers for lunch. Adam was on a frolic, UPS not eligible 9/29/11 Is it possible to be in a partnership w/o an agreement (by accident)? Yes! If there is no agreement, how do we know it’s a partnership? Apply partnership definition. 10/4/11 Adam will continue to be personally liable for the old debt owed to John Deere. True, it was incurred while he was a partner. Adam will be liable to Zamzows for this new PS debt incurred after he withdrew. Maybe-Under certain circumstances On person (Steve) cannot be both an officer and director of the corporation. False, he may be both an officer and a director (and shareholder too) Shareholders will never be liable for the corporation’s debt. False Sometimes shareholders can cast more than one vote per share. Yes, if the shareholders have cumulative voting rights.
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/07/2012 for the course GEN BUS 202 taught by Professor Parks during the Fall '11 term at Boise State.

Page1 / 3

SLIDES for exam2 - SLIDES for exam #2 Agents and principals...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online