Questions from Business Law

Q: As you will see in Chapter 33, Facebook began life as

As you will see in Chapter 33, Facebook began life as a corporation, not an LLC. Why did the founder, Mark Zuckerberg make that decision?

Q: On June 30, John signed a demand promissory note for $

On June 30, John signed a demand promissory note for $2,000 to the Camelot Country Club. The note stated that it was being given in payment for a membership in the country club, but in fact, the club...

Q: Corporations developed to encourage investors to contribute the capital needed to create

Corporations developed to encourage investors to contribute the capital needed to create large-scale manufacturing enterprises. But LLCs are often start-ups or other small businesses. Why do their mem...

Q: ETHICS Frank Brown, who is African-American, tried to

ETHICS Frank Brown, who is African-American, tried to buy lunch at a McDonald’s at the Dadeland Mall in Florida. The manager, Omar Zaveri, not only refused to serve Brown but verbally abused him, used...

Q: Mike Love and Brian Wilson were members of the Beach Boys.

Mike Love and Brian Wilson were members of the Beach Boys. In the 1960s, they wrote songs together. The copyrights for these songs were later sold to Rondor, which paid the two men royalties when the...

Q: Dutch, Bill, and Heidi were equal partners in a lawn

Dutch, Bill, and Heidi were equal partners in a lawn care business. Bill and Heidi wanted to borrow money from the bank to buy more trucks and expand the business. Dutch was dead set against the idea....

Q: Carrie and Laura started a business together to sell bridesmaids dresses online

Carrie and Laura started a business together to sell bridesmaids dresses online. Carrie spent months preparing the financials and meeting with potential investors while Laura designed dresses and foun...

Q: Lucan and Alison agreed to practice law together. Their stationery said

Lucan and Alison agreed to practice law together. Their stationery said, “The Lucan and Alison Partnership” and they told everyone they were partners. They signed a partnership agreement providing tha...

Q: Is there any good reason to be in a partnership? If

Is there any good reason to be in a partnership? If so, for what sort of business would it make sense?

Q: 1. Which of the following statements is true? A

1. Which of the following statements is true? A. Vagueness occurs when the parties do not want the contract to be clear. B. Ambiguity occurs when the parties do not want the contract to be clear. C. V...