LAW 531 Week 1 Knowledge Check Essay Example for Free

LAW 531 Week 1 Knowledge Check Essay Which of the following is true of a corporation? Corporation owners are only taxed once on earnings. A corporation terminates upon the death of an owner. A corporation is a separate legal entity. Corporation shareholders are subject to unlimited personal liability. Correct 2 There are two general partners, each of whom contributes $5,000 in capital to a limited partnership. There are two limited partners, each of whom contributes $20,000. The total amount of capital contributed is $50,000. The limited partnership agreement does not stipulate how profits and losses are to be allocated. Assume that the limited partnership makes $300,000 in profits. Under the Revised Uniform Limited Partnership Act (RULPA), how much would each partner receive? Each general partner would receive $30,000, and each limited partner would receive $120,000. Each general partner would receive $50,000, and each limited partner would receive $100,000. https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result Page 1 of 6 8/19/13 9:24 PM Start Over All partners would receive $75,000, regardless of whether he or she is a general or limited partner. Each general partner would receive $120,000, and each limited partner would receive $30,000. Correct 3 Which of the following is true regarding mediation? A mediator does not make a decision or an award. If a settlement agreement is not reached in mediation, then the parties hire a new mediator. Was created by the Federal Mediation Act of 1925. A settlement agreement is never reached with a mediator. Correct 4 George has served Mary with a complaint alleging breach of contract. Mary has never been sued before and as such, she seeks your advice on what to do with the complaint. You advise that she answer George’s complaint but do not provide any affirmative defenses that George can use against her answer George’s complaint by admitting or denying the allegations George has asserted against her write a letter to the judge saying that George is mistaken should not respond to George’s complaint as an answer implies an admission Correct 5 Which of the following is true of arbitration? A judicial referee makes recommendations to the parties. One party usually drops the case. Parties can introduce evidence to support their case. A resolution may or may not be reached. Correct https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result Page 2 of 6 8/19/13 9:24 PM 6 Which of the following is one of the major purposes of a settlement conference? To conduct discovery for a case To contest the local court rules To facilitate the settlement of a case To structure a settlement payment schedule Correct 7 What is the effect of having a corporation as the general partner of a limited partnership? Each shareholder of the corporation will be treated as a limited partner of the limited partnership. The liability of the corporate general partner will be limited to the amount of its assets. The limited liability of the corporation will result in the limited partners having greater liability than they would otherwise. Each shareholder of the corporation will be treated as a general partner of the limited partnership. Correct 8 Which of the following is true about the choice of business entity for an entrepreneur? The choice is determined by the Internal Revenue Service based on all the facts and circumstances. The choice takes into account many factors, including finding an option that has all the characteristics desired. The choice is determined solely by whether the primary business is services or goods. The choice is determined solely by the amount of capital invested. Correct 9 Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute? https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result Page 3 of 6 8/19/13 9:24 PM Minitrial Arbitration Conciliation Mediation Correct 10 Fred and Ginger are general partners in a business. They decide to purchase a building for the partnership. Ginger will put up the money for the building, and Fred will complete the remodeling. While inspecting the building, Fred is informed that the building is packed full of asbestos. He fails to tell Ginger of the presence of the substance. They buy the building and go into business. During the remodeling of the building, people from the neighborhood begin complaining about the dust from the building. Some of them even threaten to sue. Who is liable? Fred is liable because he was put on notice of the presence of the substance. Ginger is not liable because she did not have actual knowledge. Neither Ginger nor Fred are liable personally, nor is the partnership, as they did not put the substance in the building. Both Ginger and Fred are liable, regardless of the circumstances, by virtue of the fact that they are partners. Ginger is liable because she is the one who purchased the building. Fred is not liable, even though he had actual knowledge, because he did not purchase the building. Correct 11 Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true? Martha’s business creditors can collect only the $50,000 of business assets. Once Martha terminates the sole proprietorship, she is no longer liable for the $50,000. Martha’s business creditors can collect only the $50,000 now, but if Martha ever goes into business again, they can get the assets of the new business. Martha is personally liable for the additional $75,000 owed to business creditors. Correct https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result Page 4 of 6 8/19/13 9:24 PM 12 Which type of business formation is typically reserved for professionals such as accountants, lawyers, and doctors? Limited Liability Company (LLC) Limited Liability Partnership (LLP) Franchise S-Corporation Correct 13 Which of the following is true in the creation of a general partnership? The name selected cannot indicate that it is a corporation. The business name must have the names of all the partners. The business cannot operate under a trade name. The business name cannot be a fictitious name. Correct 14 Which of the following is true of The Federal Arbitration Act? It permits an appeal for all arbitration awards. It provides that arbitration agreements are valid, irrevocable, and enforceable. It applies only to breach of contract disputes. It governs all types of alternative dispute resolution. Correct 15 When parties agree in advance to adhere to an arbitrator’s decision and award, it is known as binding arbitration https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result Page 5 of 6 8/19/13 9:24 PM arbitrator discretion appealable mediation Correct 16 The Black Squirrel limited partnership has been in operation for many years, but has recently fallen on hard times. The partners have decided to dissolve, although there are few assets remaining in the partnership. Shortly after the partnership filed its certificate of limited partnership, the partners had the foresight to incorporate into their partnership agreement a provision that, in the event of dissolution, the assets would be distributed in payment of claims first to limited partners, then to general partners, then to creditors. Hilda is a limited partner and feels relieved that she will receive at least a portion of her capital. Henry, one of the general partners, said that this provision is void and unenforceable. Which of the following best describes this situation? The provision placing limited partners ahead of general partners is unenforceable, thus all partners would be on an equal footing and ahead of creditors. The provision placing the partners ahead of creditors is not enforceable, but the priority of limited partners over general partners is enforceable. The distribution of assets in the event of dissolution is one of the few provisions where the Revised Uniform Limited Partnership Act does not allow modification. The distribution, as called for in the agreement, would be enforceable if it had been included in any filings related to the limited partnership. Incorrect https://newclassroom3.phoenix.edu/Quiz/Quiz.jsp?launchPresentationR†¦RIS:43590667serverTime=2013-08-20T04:23:56.746+00:00#/view/result

The Fatalist Essay -- Literary Analysis, Singer, Schwartz, Irony

In â€Å"The Fatalist† written by Isaac Bashevis Singer, verbal and situational irony is used to highlight Benjamin Schwartz’s (the Fatalist’s) strange views of fate and pre-destiny by pointing out the absurdity of fatalism in different ways. Verbal irony is used by certain characters to almost mock the Fatalist’s view on preordainment. Situational irony is used in â€Å"the Fatalist† by giving us a shocking ending, and ultimately reversing our original perspective on fate. Singer’s main purpose by using irony in â€Å"the Fatalist† is to contradict our previous outlook on a specific occurrence in the story and give us a totally new perspective achieved by sarcasm or just plain old incongruity between what we expect to happen and what really happens. There are many instances in â€Å"the Fatalist† that exemplify irony, but they must be broken down in order to understand their significance. The Fatalist and his controversy amongst the townspeople are introduced shortly after his arrival. He would give speeches on his beliefs about fatalism and fielded questions, complaints and retorts from his audiences. People began to be too familiar with fatalism even so that â€Å"a new word was added to the town’s vocabulary†¦everyone here (there) knows what a fatalist, even the beadle of the synagogue and the poorhouse attendant† (190). This example of verbal irony demonstrates how big of a deal Benjamin Fatalist was to the society. Even though some may have not agreed with him, he was certainly a newcomer that others were interested in. This also defines an introduction for the fatalist; we now can understand why he was welcomed and treated the way he was. The most important antagonist in â€Å"the Fatalist† is Heyele Minz. She is responsible for the majority of the v... ... end results in marriage. They evidently still despise each other, but a deal is a deal. â€Å"The Fatalist† is a story of sarcasm and irony. Verbal irony and situational irony are the playmakers in this novella, but they each play a different role in reversing our general perspective on events in â€Å"the Fatalist.† Verbal irony is used to reverse our opinions on a certain character or their actions while situational irony is used to reverse our original thoughts on the outcome of the story as a whole. Eventually all the examples of verbal irony come together to form the final result of the story, which ends up completely reversing our original perspective about the conclusion. Without a protagonist (the Fatalist) and the antagonist (Heyele), there is no possible way to lead a story to a dramatic and ironic ending. Most often, words must be spoken to change the outcome.

As people grow older, they need to renegotiate their sense of identity and belonging Essay

Everyone has struggled with their identity and belonging during a chapter of their life. There comes a time when our opinions and beliefs begin to differentiate from those around us. During this time, some people may discover where they belong, whereas many others do not. It is not solely one stage of our lives when we are confronted with an identity crisis, but a continuous challenge throughout our lives as we encounter new experiences that will alter our thoughts, emotions and perspective on ourselves. Most of us are following the â€Å"norms†, society expectations but deep down inside, we desire for freedom. Society only gives us a narrow time, a â€Å"window†, between school and marriage to be whomever we want without the judgement of society. This window is the only time that we can have a †good time† like getting drunk, travel, stay out late, do silly things yet nobody would criticise. However, since the window is pretty narrow, many people tends to stretch it so they can fully enjoy themselves. For school-leavers like us, we would like to taste that sense of freedom as soon as possible and as long as possible. Not many of us would actually thinking about settling down at this moment since we are young. Out there in the world, many interesting new things are inviting us to try and take on the challenges. We are like Bubba, young and energetic, new to the world and society doesn’t expect much of us yet. However, human beings are not eternally immutable, we change ourselves, our identity and sense of belonging gradually. There’s certainly a time when we feel so lonely, distanced and disconnected even though there’s a crowd of people around, people that we know. That’s when we should think to ourselves, who am I really and where do I belong? After enjoying freedom for so long, we could be bored and lost because we are living without a purpose, a plan for the future. We would begin to yearn for a lifelong companionship, fulltime commitment from someone, we can’t stand being alone for the rest of our lives in some vague, unstable relationships that can break at any moment. We need something new and more exciting than what we already experienced. A solitary is an unfulfilling life to us, we want love, affections and devotion so that our lives can be fulfilled. As we grow older, we would stop being immature, selfish and solo as part of our â€Å"growing up†. Though we would like to stretch our â€Å"window†, society does expect us to grow after certain age. We are expected to reproduce ourselves by having a family, taking up the responsibilities, pass on our beliefs to the younger generation. Reproduction is that we can start all over again, that’s why life is a cycle, repetitively, and many would follow. In each and every one of us, the biological urge or clock would start to alarm as we grow older. Desire for a family with children would naturally come for most people, then they would seek to settle down. Nancy had enough of the lay-off, after sixteen years without any assurance, she had renegotiated with herself to discontinue. She wanted to have a family, a stable relationship, since Barney couldn’t give her that, she left and married to start a family life. She was not young any more but it was not too late, at least she realised that the lay-off wasn’t working for her and she found a solution that she was comfortable with. However, there’re a few people who think differently. They are afraid of losing their freedom as they are lost in their own fantasy that they are young and free forever. Marriage certainly limits one’s freedom that to some people, it’s a chain, an imprisonment for life that they don’t ever want to be bind in. They love their liberty even though they are aging, they don’t have a slight idea of changing their lifestyle. They don’t want to grow up even if they are growing old. In society’s eye, they are the odd ones, the ones that defy the â€Å"norms†, the bad omens. Olive is the representative of these people, she detest matrimony and any permanent attachment. However, she ignored reality of her aging and the repetitive of the lay-off was wearing everybody out. The freshness, excitements and funs were gone long ago but she turned a blind eye to it, believing it would last forever. Only if she renegotiate with herself earlier, reality wouldn’t struck her as hard and she would understand why Roo proposed to her. At some point in life, we must reconsider of our sense of identity and belonging so that its suit our situations. We are not ever-changing but we can’t be the same forever, we need to change gradually to adapt to the changing world just like how the Earth revolves around the sun. It spins but we don’t feel it. People change overtime but we don’t really see unless it’s a dramatic change. As we grow older, we encounter more crises which influence our sense of identity and belonging. We would be wiser than before as we learn from our mistakes.

Similarities Between Gandhi And Nelson Mandela - 843 Words

History is full of many historical figures who have dedicated or even sacrificed their lives into making a change in human rights. Many of those historical figures tried to make a change by non-violent protest and civil disobedience. The two that I will talk about is Nelson Mandela and Mahatma Gandhi, these two are from two different countries but one place that they have in common in South Africa. Even though Gandhi is Indian, the way his people were treated in Africa made him wanted to make a change in human rights. Nelson Mandela, on the other hand, had been dealing with racial segregation or Apartheid since birth. Mahatma Gandhi was born in India and he was the leader of India’s Independence movement. In 1914 he created a nonviolence†¦show more content†¦Nelson Mandela wanted to create a rainbow nation, a nation where no matter what race or religion or ethnical group, everybody was treated the same. According to page 32 in the Nelson Mandela: The Man and the Movement book one of the goals of the African National Congress â€Å"Our goal is the winning of national freedom for African people, and the inauguration of a people’s free society where racial oppression is outlawed†. Even though the two men had many differences they also had a few similarities. For instance, they were both jailed many times for their beliefs and that didn’t mind standing up for what they believed was right no matter the consequences. They also both fought against the British rule in their own countries. But another difference is Gandhi died for his beliefs. On January 30th, 1948 a Hi ndi named Nathuram Godse shot Gandhi three times a point-blank range. According to page 500 in the A life of Gandhi book during Godse trial when he got up to read his statement and give his reasoning behind why he shot Gandhi. He said, â€Å"I do say the shots were fired at the person whose policy and action had brought rack and ruin and destruction to millions of Hindus†. Nelson Mandela was not assassinated like Gandhi, but he was jailed for twenty-seven years in 1962. Because he was found guilty of conspiracy and sabotage to overthrow the South African government with eight others from the African NationalShow MoreRelatedMartin Luther King And Nelson Mandela880 Words   |  4 Pages My essay is about the differences and similarities of two famous historical figures, Martin Luther King and Nelson Mandela. Some of the topics I will cover include the backgrounds of the individuals, where are they from, the achievements and accolades and public perception of these people and my personal opinion about everything accomplished in their lives. Mandela and King have some similarities in their lives. 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