CU OF SEATTLE
FINAL EXAM BSC 403
SPRING 2013
B/ pc centre BA
Name: Date:
Choose any 10 from the following expressions and explain them in your own words (each correct answer is worth 2%):
Franchise; partnership; sole proprietorship; dissolution; limited liability company; general partner; limited partnership; articles of incorporation; ultra vires; quorum; foreign corporation; outside director; fiduciary; equal dignity rule; apparent authority; Bill of Rights; checks and balances; preemption; privileges and immunities clause
Decide whether the following statements are true or false (each correct answer is worth 1%):
A, The Articles of Confederation established a confederal form of government.
B, Under the U.S. Constitution, each branch of government limits some actions of the other branches.
C, The supremacy clause of the Constitution provides that a state law is invalid when it directly conflicts with a federal law.
D, A sole proprietor may own and manage any type of business.
E, A franchisor is never liable for the act of a franchisee’s employee.
F, A limited liability company is a legal entity apart from its owners.
G, In a family limited liability partnership, only persons related to each other may be partners.
H, The law of the state of incorporation may restrict the implied powers of a corporation.
I, An agency relationship does not exist outside employer-employee relationships.
J, There are no exceptions to the employment-at-will doctrine.
Choose the correct answer for the following statements (each correct answer is worth 3%):
Under the Constitution, the legislative branch of the government
administers the laws.
enforces the laws.
interprets the laws.
makes the laws.
Colorado enacts a statute that bans the distribution of anonymous political leaflets. A court would likely hold this to be:
an unconstitutional restriction of speech.
constitutional under the First Amendment.
justified by the need to protect individual…