LAWS310 Quiz Week 2

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LAWS310 Quiz Week 2
(TCO 3) In a corporation, the first duty of management is a fiduciary duty to shareholders. Why is that a higher…

 

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LAWS310 Quiz Week 2

LAWS310 Quiz Week 2

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(TCO 1) Explain how the doctrine of stare decisis brings stability to the legal system. (Points : 10)

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The doctrine of stare decisis brings stability to the legal system promoting a…

(TCO 1) How does the law maximize individual freedom? (Points : 10)

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The law guarantees that individuals enjoy a maximum amount of…

(TCO 2) Analyze the business environment that led to the enactment of the Sarbanes-Oxley Act. (Points : 10)

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The Sarbanes-Oxley’s sudden enactment was predicated by a slew of…

(TCO 3) What is distributional interest? A member of an LLC transfers his distributional interest to his brother. Will his brother be considered a member of the LLC? Give arguments in support of your answer.(Points : 10)

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A member’s ownership interest in an LLC that entitles the member to…

(TCO 3) In a corporation, the first duty of management is a fiduciary duty to shareholders. Why is that a higher duty than to customers? (Points : 10)

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The duty is higher for the shareholders than to the customers because the shareholders and management have a…

(TCO 3) Provide reasons why a majority of American corporations are incorporated in Delaware. (Points : 10)

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The state of Delaware is the corporate haven of the United States. More than 50% of the…

(TCO 2) Discuss the criticism of Kantian ethics with an example. (Points : 10)

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Kantian ethics is based on the premise that people can use…

(TCO 1) Describe the structure of the federal government. (Points : 10)

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The U.S. Constitution created three branches of government with different…

(TCO 1) Discuss the need for and significance of the U.S. courts of appeals. (Points : 10)

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The U.S. courts of appeals are the federal court system’s intermediate appellate courts. There are…

(TCO 3) Analyze, in brief, the rights of general partners. (Points : 10)

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The partners of a general partnership have the following rights.  Right to participate in management: In the absence of…