Reference no: EM132090550

Anne, an office manager for Peter, had authority to purchase up to $500 in office supplies in any given month. Using this authority, Anne routinely purchased $500 or less in office supplies each month from Home Depot on behalf of Peter's business. Last September, Anne used Peter’s Office Depot charge card to buy a $1000 laptop computer so she could work on some accounts at home. In October, Peter learned about the purchase of the laptop but did nothing because he was too busy. Anne is still using the computer. Under these facts, if Peter is he was too busy. Anne is still using the computer. Under these facts, if Peter is contractually bound to Office Depot, even though Anne had no authority, which is the strongest basis for holding Peter contractually bound to Office Depot?

a. Anne had actual authority because she routinely acted as an agent for Peter to make purchases at Office Depot.

b. Peter ratified the contract

c. Anne was a special agent with authority to make that purchase

d. Anne fully disclosed Peter and thus Peter is liable for the contract.

Smith, Jones, and Johnson enter into a contract to form a partnership, but the contract says nothing about the sharing of profits and losses.

a. Losses will be proportionate to each person's investment but profits will be shared equally

b. Profits and losses will be shared in proportion to each person's investment

c. Profits will be shared proportionate to each person's investment but losses will be shared equally

d. Profits and losses will be shared equally because they do not have an agreement to the contrary.

A corporation's limited liability for an owner may be lifted and an owner personally liable when:

A plaintiff successfully pierces the corporate veil by showing that the corporate owner was within the scope of his or her corporate capacity when liability occurred.

A plaintiff successfully pierces the corporate veil by showing that an owner received a personal benefit from the corporation.

A plaintiff successfully pierces the corporate veil by showing that a dominant owner disregarded the corporate form and operated the corporation like it was a sole proprietorship, or a mere alter ego of that person.

A plaintiff successfully pierces the corporate veil by showing that an owner caused a corporation to be undercapitalized.

Equitable relief is granted:

a. only when the court is also prepared to grant money damages.

b. in all cases in which damages for pain and suffering are sought

c. only to victims of crime.

d. only when the court is convinced that an award of money damages would be inadequate to fully compensate the plaintiff.

Which of the following are the two types of federal jurisdiction?

a. federal question and concurrent jurisdiction

b.federal question and diversity jurisdiction

c. subject matter and personal jurisdiction

d. federal and state jurisdiction