Compensatory damages include A) general damages and special damages. B) special damages and punitive damages. C) punitive damages and general damages. D) general damages, special damages, and punitive damages. ANSWER Answer: A
Date: September 19th, 2020
Steve was involved in an auto accident. Both drivers were partially at fault for the accident. Steve’s actual damages were $50,000. He was judged to be 20 percent at fault. If Steve’s state has a contributory negligence law, how much will Steve collect? A) $0 B) $10,000 C) $25,000 D) $40,000 ANSWER Answer: […]
Date: September 19th, 2020
Trisha was injured when the delivery truck for a local furniture store struck her. The delivery driver claimed the brakes of the delivery truck failed, causing the accident. Trisha filed suit, and in her lawsuit named the delivery driver, the furniture store, the service station responsible for vehicle maintenance, and the manufacturer of the vehicle. […]
Date: September 19th, 2020
A person who enters or remains on the property with the occupant’s expressed or implied permission is called (a)n A) trespasser. B) resident agent. C) invitee. D) licensee. ANSWER Answer: C
Date: September 19th, 2020
Capital markets are all the financial institutions that help a business raise long-term capital. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
A legal wrong for which the law allows a remedy in the form of money damages is a A) crime. B) breach. C) misdemeanor. D) tort. ANSWER Answer: D
Date: September 19th, 2020
One requirement for proving that an act was negligent is the existence of an unbroken chain of events between the act and the injury or harm that occurred. This unbroken chain of events is called A) condition precedent. B) cause and effect. C) proximate cause. D) condition subsequent. ANSWER Answer: C
Date: September 19th, 2020
One of the causes of the recent financial crisis in the United States has been excessive risk taking due to underestimation of risk. How does this relate to shareholder wealth maximization and financial leverage? Can overestimation of risk also be detrimental? ANSWER Underestimation of risk can lead managers to borrow excessively to fund […]
Date: September 19th, 2020
Transactions in the futures markets involve current payments for goods which will be delivered at some future agreed upon date. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Under state workers compensation programs, employers may not use common law defenses to defend against claims of workers who are injured on the job. In such cases, proof of a worker’s injury is proof of responsibility of the employer. Because of this characteristic, workers compensation is an example of A) personal injury. B) strict (absolute) […]
Date: September 19th, 2020
