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Question
Under the emergency escrow provisions created under the Sarbanes-Oxley Act:A.the SEC may require corporate payouts into a government controlled emergency escrow fund after the SEC investigation has uncovered wrongdoing by the corporation.
B.the SEC may require corporate payouts into a government controlled emergency escrow fund during their investigation and before the SEC has uncovered wrongdoing by the corporation.
C.the PCAOB may require corporate payouts into a government controlled emergency escrow fund after the PCAOB investigation has uncovered wrongdoing by the corporation.
D.the PCAOB may require corporate payouts into a government controlled emergency escrow fund during their investigation and before the PCAOB has uncovered wrongdoing by the corporation.
Answer
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Related questions
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Which of the following involves a third party substitution?
A.novation
B.accord and satisfaction
C.substitute agreement/modification
D.rescission
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In Mobil Oil Exploration & Producing Southeast, Inc. v. United States:
A.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the original contract amounting to repudiation by the United States.
B.Mobil was able to get out of the contract for the $156 million lease because the new law passed at the last minute changed the terms of the contract, barring certain types of oil exploration, frustrating Mobil's contractual purpose.
C.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, they had not yet filed their oil excavation plan so they could not know whether they were facing a problem.
D.Mobil could not claim an anticipatory repudiation because even though as new law had been passed, it did not substantially change the terms of the original contract.
Q:
Each of the following is a discharge by mutual consent except:
A.accord and satisfaction.
B.novation.
C.rescission.
D.frustration of purpose.
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When an assignment is made, the assignee has the right to reform the contract and change the obligor's rights and duties as they wish.
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When the parties perform their obligations in good faith in order to complete the contract, this completion is called _______.
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Why is it so important that the law of contracts be so ordered and strong with regard particularly to the business world?
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Q:
In Lucy v. Zehmer, the two parties were drinking in a bar when Lucy offers to buy Zehmer's farm. After some negotiation a written contract was executed. Zehmer claimed that the whole episode was only a joke and he never intended to sell the farm. The court determined that:
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C.because the terms were fair, the parties are bound by the contract regardless of their intent or capacity.
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Q:
Which of the following promises ordinarily need not be in writing to be enforceable?
A.Promises made as a part of a prenuptial agreement.
B.An agreement to sell of a car for $1,500.
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A professor tells a student that if she writes a 5,000 word paper on the evils of plagiarism by May 13th, he will pay the student $750.00.
A.the offer is for a unilateral contract
B.if the student gives the paper to the professor on May 14th, the money is owed because the student came close and did get the paper done
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B.promissory estoppel applies whether Edmund was rich or not
C.promissory estoppel does not apply because Edmond had no reason to believe that Mary would rely on his promise
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