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38 Cards in this Set

  • Front
  • Back
bilateral contract
promise for a promise
unilateral contract
promise for an act
express contract
terms spelled out verbally or in writting
implied contract
in fact-implied from the conduct of the parties
Quasi-Contract
implied at law- to prevent unjst enrichment
executory/executed contract
terms of contract completion
void
contract element missing
voidable
one party can get out of the contract
unenforceable
vail contract that cannot be enforced
sources of contract law
common law and uniform commercial code (UCC)
common law
real estate and services
UCC
apply to sale of goods
contracts for the internation sale of goods use...
CISG
click agreement
contract over the internet entirly
consideration
must be bargained for
5 elements of a contract
offer, acceptance, consideration, capacity, legality
5. Section 16 applies:
b. to directors.
4. Which of the following is not a method for forming a partnership?
by transfer
A partnership by estoppel
results when third parties are led to believe a partnership exists.
The law that is considered pro employer is the:
Taft Hartley.
Jim owns shares in the ABC corporation. He would like to go to a shareholder meeting but he cannot miss work. Jim can vote by:
proxy voting.
A collective bargaining unit:
must be done in good faith- mandatory topics and permissive topics
In a novation by the board involving the corporation and a third party,
the promoter is released from liability.
The business judgment rule
holds directors liable for failure to obtain necessary information for making decisions.
A director who steals a corporate opportunity
will owe his/her corporation the profits from the opportunity
Lund was the CEO of Verit Co. Lund was contacted by Horowitz, the CEO and Chairman of the Board of P & F. Horowitz told Lund of an opportunity P & F had to buy into a Las Vegas Casino. Lund immediately purchased 10,000 shares of P & F. Three days after Lund's purchase, P & F announced its intentions to enter into a joint venture for a Las Vegas casino. Lund was then able to sell his shares for considerable profit. Lund's actions violate what sections under the 1934 Act.
c. section 10b
Which of the following would not be considered a security under the 1933 Act?
pension fund
Which is a mandatory subject matter for good-faith bargaining?
a. wages
b. hours
c. vacations
d. merit pay
Who is liable for a Section 11 violation?
directors
b. officers
Maxine Knight is an investment banker who has just completed negotiations for a merger between two major motion picture studios. Maxine lives with Ron Heywood and suggests dinner to celebrate the successful negotiations that will become public in three days. Ron celebrates with Maxine and the next morning buys substantial blocks of shares in both the firms. After the merger is announced, the value of the shares doubles.
Ron has violated Section 10b-5.
The Foreign Corrupt Practices Act
is an amendment to the 1934 Act.
A bona fide occupational qualification is a defense to discrimination charges if
it can be established that customer preference is the basis for discrimination.
b. the job could be too strenuous for women.
c. it is customary for a woman to hold the job.
**d. none of the above.
Robert Smith, age 76, was interviewing for a computer programming position with the city of Greensboro. During the course of the interview he disclosed his successful 1994 completion of drug treatment at the Alcohol and Drug Services of Guilford County, Inc. Robert Smith had the requisite skills, education, training and significant experience as a computer programmer. He was not hired for the job, and the position remained vacant. What possible grounds for relief would be available to Mr. Smith?
Federal Rehabilitation Act
b. Americans with Disabilities Act
29. The Family Medical Leave Act
Requires employees to provide medical certification by a doctor
The right to sue letter
is EEOC certification that administrative remedies have been exhausted.
Sprago, a fine restaurant, has hired only male employees over the past ten years. Sprago's manager says male employees look more professional and customers prefer male employees to female employees. A female who has applied for and been denied an employment position at Sprago in spite of her qualifications
would have a cause of action for sex discrimination under Title VII.
Which of the following questions would not be illegal under the ADA?
"Are you able to lift fifty pounds of mail?"
40. Which of the following ads would violate Title VII?
"Waiters for four-star restaurant needed."