Business Law
BMGT 380 Fall Final Exam Answer Sheet
Case 1
1. ｃ: Because,a federal court has more extensive jurisdiction than a state court. While the jurisdiction of state courts are limited by their boundaries, the federal court system covers the entire nation. An important limit to diversity jurisdiction is that only cases involving more than $75,000 in potential damages may be filed in a federal court.
2. ｂ : n the legal system of the United States, a long arm statute is a law which allows a court to exercise jurisdiction over people and companies in other states. owever,there are a number of ways in which jurisdiction is limited. In the case of a long arm statute, the law involved is the law limiting personal jurisdiction, determining where people can be tried on the basis of their residence and connections. Normally, a court in, for example, Colorado, cannot hear a suit regarding someone who is a resident of Mexico.
3. ｄ:The reason is both "being a minor doesn’t affect her agency relationship with Windell " and "the privilege to renounce the contract lies with the minor".
4. ｂ:In business law, sole proprietorships have unlimited liability, meaning that the owner is personally responsible for the debts and obligations of the business, and lenders may look to the owner's personal assets for payment of these obligations.
5. ｄ: The following is the reason. The advertisement and website created an express warranty that the trip would include all expenses, three meals a day, and a room with a queen bed.Jones entered into the contract based on a mistake of material fact which the hotel knew to be untrue and under the UCC written disclaimers must be conspicuously displayed to be valid.
Short Answer: Common Law and UCC or Uniform Commercial Code are laws that pertain to the USA. Common Law mainly deals with real estate, service, insurance, intangible assets and employment contracts. On the other hand, UCC is mainly concerned with sale of
Case 1
1. ｃ: Because,a federal court has more extensive jurisdiction than a state court. While the jurisdiction of state courts are limited by their boundaries, the federal court system covers the entire nation. An important limit to diversity jurisdiction is that only cases involving more than $75,000 in potential damages may be filed in a federal court.
2. ｂ : n the legal system of the United States, a long arm statute is a law which allows a court to exercise jurisdiction over people and companies in other states. owever,there are a number of ways in which jurisdiction is limited. In the case of a long arm statute, the law involved is the law limiting personal jurisdiction, determining where people can be tried on the basis of their residence and connections. Normally, a court in, for example, Colorado, cannot hear a suit regarding someone who is a resident of Mexico.
3. ｄ:The reason is both "being a minor doesn’t affect her agency relationship with Windell " and "the privilege to renounce the contract lies with the minor".
4. ｂ:In business law, sole proprietorships have unlimited liability, meaning that the owner is personally responsible for the debts and obligations of the business, and lenders may look to the owner's personal assets for payment of these obligations.
5. ｄ: The following is the reason. The advertisement and website created an express warranty that the trip would include all expenses, three meals a day, and a room with a queen bed.Jones entered into the contract based on a mistake of material fact which the hotel knew to be untrue and under the UCC written disclaimers must be conspicuously displayed to be valid.
Short Answer: Common Law and UCC or Uniform Commercial Code are laws that pertain to the USA. Common Law mainly deals with real estate, service, insurance, intangible assets and employment contracts. On the other hand, UCC is mainly concerned with sale of