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Question
Which of the following is true of partnership property?
A. The fact that property is used in the business makes it partnership property though it does not show in the account books.
B. Payment by the partnership of taxes or insurance on property is conclusive evidence that the property is owned by the partnership.
C. Any property acquired with partnership funds is partnership property though a contrary intent is clearly shown.
D. It includes all property that originally was contributed to the partnership as well as anything purchased then or later for the partnership.
Answer
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Related questions
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B. allows only the U.S. attorney general to sue for injunctive relief or the seizure of products to enforce various provisions of the act.
C. permits any private party to sue for an injunction to enforce any CPSC rule or order, if, at the time of the suit, the commission or the attorney general has begun an action based on the alleged violation.
D. allows those injured because of a knowing and willful violation of a CPSC rule or order to sue for damages if the amount in controversy exceeds $100,000.
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The Consumer Product Safety Commission's authority is applicable to ___.
A. firearms
B. drugs
C. cosmetics
D. lawn mowers
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The Holder in Due Course rule:
A. alters statutes of limitations or other state-created limitations on the consumer's enforcement of claims and defenses.
B. states that all defenses available to the purchaser against the seller can also be available against the holder in due course.
C. eliminates rights that the consumer may have as a matter of federal, state, or local law.
D. creates a warranty claim or defense where the product is sold "as is."
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The Equal Credit Opportunity Act:
A. is designed to protect consumers from unfair or inaccurate credit reporting.
B. requires online ads for free credit reports to disclose whether the consumer must buy credit monitoring or other products or services to get the report.
C. prohibits discrimination in credit transactions on grounds of sex, marital status, race, color, religion, national origin, and age.
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A. coinsurance clause
B. pro rata clause
C. exculpatory clause
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B. usually allows the insured to recover the difference between the limits stated in the policy and the fair market value of the property.
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A. the trust will automatically fail.
B. the court will direct the application of the property to some charitable purpose that falls within the settlor's general charitable intention.
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Landlords attempt to limit their liability through exculpatory clauses.
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A. is a draft drawn by a bank on any other financial institutions other than a bank.
B. is a check drawn by a bank on an individual's funds.
C. is a draft on which the drawer or drawee are the same bank.
D. is a draft drawn by a bank on another bank or payable at or through a bank.