Reference no: EM132207160

1. Which of the following is NOT associated with the specialized disputes the Delaware court of chancery hears?

a. mergers and acquisitions

b. federal securities laws

c. business disputes

d. fiduciary duties of corporate officers

2. Which answer choice describes a tie decision of the US Supreme Court?

a. A majority of justices agree as to outcome and as to reasoning; these decisions serve as precedent.

b. An equal number of justices vote for each side; these decisions operate to affirm the appeals court decision and do not serve as precedent.

c. A majority of justices agree as to outcome but not as to reasoning; these decisions do not serve as precedent.

d. All the justices agree as to outcome and as to reasoning; these decisions serve as precedent.

3. Which answer choice is NOT true of a long-arm statute?

a. They apply to residents of a state who flee in anticipation of being served in a lawsuit.

b. They often apply where someone has entered into a contract within a state.

c. The defendant must have had some minimum contacts with the state where the lawsuit is filed.

d. They often apply where someone has transacted business within a state.

e. They often apply where someone has committed a tort within a state.

4. When referring to risk, which of the following statements is reasonable?

Although risk means taking a chance at losing, your business is likely to always turn a profit.

Good business strategy encourages less risk, because the least risky ventures usually make more profit.

Sizeable risks can lead to substantial profits, if the business takes calculated risks and captures good opportunities.

Although risk means taking a chance, a start-up will usually manage to get off the ground faster if the stakes are high.