(12) The agreement which caused by fraud, coercion and misrepresentation is called..... a) Void b) Voidable c) Partially void
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- Wrong answer previous oneA buver made an offer on a property on September 25th. The Seller countered on September 26th. Both parties signed the purchase contract on September 28th. The property closed on December 31st. What is the effective date of contract? O December 31st O September 26th O September 28th O September 25thTrue or False 1. The power to borrow or obtain a loan is one of the enumerated corporate powers under the Code, it is really an inherent or implied power of every corporation since it flows from its being granted the capacity to contract or to obligate itself as a juridical person under Article 46 of the Civil Code. In addition, the express powers to enter into the accessory contracts of "pledge" or "mortgage" under Section 35(g), must necessary include the power to enter into the accessory contract of loan 2.Cash dividends are declared by the majority of the quorum of the board of directors with the concurrence of the stockholders representing at least 2/3 of the outstanding capital stock 3.It is a well-established principle that the contents of the bylaws that contravene the Constitution and the laws of the land are deemed void; and that in case of contradiction to any of the provisions of the articles of incorporation, the By-Laws' provision/s shall prevail 4.The Supreme Court…
- To which of the following will the general anti-avoidance provisions in Part IVA apply: (1)A scheme that has a commercial purpose but which is “tax driven” (2)A scheme that depends on a tax benefit to give a commercial outcome. (3)A scheme that makes no commercial sense without the tax benefit. (4)A scheme that is explicable only by the tax benefit obtained. A.only(1) B.only (1) and (2) C.only (1),(2) and (3) D.All of (1)to(4) E.only (2),(3),(4) F.only (3),(4) G.only(4)Mr. A is obliged to deliver 5 bags of powder soap to Mr. C, 7 days from their agreement. On due date, Mr. A delivered deliberately 5 bags of powder soap mixed with chalk. The contract is said to be with O a. Validity b. Mistake OC. Duress O d. FraudThe purpose of the Insuring clause in an Accident and Health policy is to: O A specify the schedule and method of premium payments specify the conditions under which benefits are payable indicate the responsibilities of the insured after a covered loss satisfy the requirements of the uniform policy provision code OB. O C SOD.
- Explain the difference between a docketing fee and a cancellation fee of an arbitrator.It is assumed that a drawer or maker will recognize his or her own signature and that a maker or an acceptor will recognize whether an instrument has been materially altered. Therefore, with respect to any of these parties who in good faith accepts an instrument, in terms of presentment warranties, a. all of them apply. b. none of them apply. c. only the warranties that the instrument has not been altered and that the person obtaining acceptance has no knowledge of an unauthorized signature apply. d. only the warranty that the person obtaining acceptance is entitled to enforce the instrument applies.1. Basic Research LLC advertised its products on television networks owned by Rainbow Media Holdings Inc through an ad agency Icebox Advertising Inc. As Basic’s agent Icebox had express authority to buy ads from Rainbow on Basics behalf, but the authority was limited to buying ad with cash in advance. Despite this limit Rainbow sold ads to Basic through Icebox on credit. Basic paid Icebox for the ads, but Icebox did not pass all of the payments on to Rainbow. Icebox filed for bankruptcy. Can Rainbow recoup the unpaid amounts from Basic? Explain.2. Western Fire truck Inc contracted with Emergency One Inc (EO) to be its exclusive dealer in Wyoming and Colorado through Dec. 2003. James Costello, a Western Salesperson, was authorized to order EO vehicles for hi customers. Without informing Western, Costello emailed EO about Westerns diffuclties obtaining cash to fund its operations. He asked about the viability of Westerns contract and his possible employment with EO. On EO’s…
- Identify and state the relevant facts in the case: [*1058] In addition, the Agreement authorizes Defendants to establish and fund a reserve account from Schnucks' payment card transactions to offset its indemnity obligations in an amount not to "exceed ... any current and anticipated Association fees or fines." (Bankcard [**6] Addendum at § 22.1) Schnucks alleges that following the data breach, "First Data received a preliminary case management report from MasterCard outlining the case management fee and the amount of monitoring/card replacement and fraud loss reimbursement it was assessing against Citicorp." (Compl. at ¶ 28) Based on the amount of MasterCard's assessment, First Data then projected the total amount of Visa's assessment (id. at ¶ 29), and established the reserve account by withholding a percentage each day from the funds it collected for Schnucks from its payment card transactions. (Id. at ¶¶ 30-31) Schnucks further alleges that Defendants have breached the Agreement…Owe81. Which of the following statements about a short sale is true? a. The seller's lien holder must forgive any shortfalls if there are any b. Sales proceed are inefficient to pay off liens c. The possibility of a short sale is not a material fact until contract has been formed noting information d. The seller must bring additional funds to satisfy liens to settlement