Question

18-A major benefit of a Chapter 11 bankruptcy for a partnership, LLC or corporation is that the debtor is given the opportunity to reject certain ____________ and unexpired leases.

executory contracts

discharged debts

fraudulent transfers

executed contracts

19- A principal - agent relationship is different than an employer - employee relationship because often an agent is given ____________ and an employee is not.

a salary

independent contractor status

authority to enter contracts on the principal's behalf.

benefits

20-When both parties act as though an agency exists between them but they have not expressly stated it or agreed to its terms, this may be

an express agency.

an implied agency.

an agency by ratification.

an apparent agency.

21-A principal has a duty to _____________ his agent if the agent suffers a loss due to the principal's conduct.

notify

support

inform

indemnify

A principal has a duty to _____________ his agent if the agent suffers a loss due to the principal's conduct.

notify

support

inform

indemnify

22-

The Immigration Reform and Control Act of 1986 requires employers

to pay unemployment taxes.

to deduct Social Security contributions from an employee's paycheck.

to provide pension plans for their employees.

to verify whether or not prospective employees are authorized to work on the United States.

23-

In the case Eco-Clean, Inc v Brown, the Georgia Tech University was liable for the actions of the student driver because

He was motivated by his own interests.

the court said he was not an "agent" of the school.

the court said the driver was an "agent" of the school.

he worked for the school and was "on the clock."

Answer 1

Answer 18:

Option D. A major benefit of a Chapter 11 bankruptcy for a partnership, LLC or corporation is that the debtor is given the opportunity to reject certain executed contracts and unexpired leases.

Answer 19:

Option C.A principal - agent relationship is different than an employer - employee relationship because often an agent is given authority to enter contracts on the principal's behalf but an employee is not given this opportunity.

Answer 20:

Option B. When both parties act as though an agency exists between them but they have not expressly stated it or agreed to its terms, this may be an implied agency.

Answer 21:

Option D. A principal has a duty to A principal has a duty to indemnify his agent if the agent suffers a loss due to the principal's conduct.