Questions from Business Law

Q: 1. For a contract governed by the UCC sales article,

1. For a contract governed by the UCC sales article, which one of the following statements is correct? (a) Merchants and non-merchants are treated alike. (b) The contract may involve the sale of any t...

Q: 1. On Monday, Wolfe paid Aston Co., a furniture

1. On Monday, Wolfe paid Aston Co., a furniture retailer, $500 for a table. On Thursday, Aston notified Wolfe that the table was ready to be picked up. On Saturday, while Aston was still in possession...

Q: On October 12, James Camp agreed to provide services to Shawn

On October 12, James Camp agreed to provide services to Shawn Sheth by October 15. In payment, Sheth gave Camp a check for $1,300 that was postdated October 15. On October 13, Camp sold the check to B...

Q: 1. Cara Fabricating Co. and Taso Corp. agreed orally

1. Cara Fabricating Co. and Taso Corp. agreed orally that Taso would custom manufacture a compressor for Cara at a price of $120,000. After Taso completed the work at a cost of $90,000, Cara notified...

Q: 1. Under the UCC Article 9, which of the following

1. Under the UCC Article 9, which of the following actions will best perfect a security interest in a negotiable instrument against any other party? A. Filing a security agreement B. Taking possession...

Q: 1.Which of the following statements are true?A

1.Which of the following statements are true? A. A draft is always a check. B. A check is always a draft. C. A note must involve at least three people D. All of the above. 2. Which of the follo...

Q: 1. A check has the following indorsements on the back:

1. A check has the following indorsements on the back: Paul Frank without recourse George Hopkins payment guaranteed Ann Quarry Collection guaranteed Rachel Ott Which of the following conditions occur...

Q: Ronald O. Perelman, chairman of the board and CEO of

Ronald O. Perelman, chairman of the board and CEO of Pantry Pride, met with his counterpart at Revlon, Michel C. Bergerac, to discuss a friendly acquisition of Revlon by Pantry Pride. Revlon rebuffed...

Q: 1. CPA’s duty of due care to a client most likely

1. CPA’s duty of due care to a client most likely will be breached when a CPA: A. Gives a client an oral instead of a written report B. Gives a client incorrect advice based on an honest error judgmen...

Q: James owned Despatch Industries. When his son, Wade, and

James owned Despatch Industries. When his son, Wade, and son-in-law, Alan, started working for the company, they both signed identical employment contracts, which provided for a severance payment if t...