Reference no: EM132159381

1. Limitations or requirements about the use of property in general are called:

a. life estates

b. profits

c. deeds

d. possessories

e. none of the other choices

2. Under the economic loss rule, when a breach of contract does not include a tort, such as injury to persons, the damages:

a. are not related to the monetary losses suffered from the breach

b. must exceed the direct costs suffered from the breach

c. none of the other choices are correct

d. only relate to economic losses suffered from the breach

e. are limited to half the economic losses suffered from the breach

3. Which of the following is a right of a limited partner in a limited partnership:

a. the right to take an active role in managing the business

b. none of the other specific choices are rights of a limited partner

c. the right to participate in the dissolution of the business

d. both a and b are rights of a limited partner

e. the right to see the partnership books

4. The modern corporation was developed:

a. in New York during the early twentieth century

b. none of the other choices

c. in England in the Middle Ages

d. in Germany during the nineteenth century

e. in Italy during the Renaissance