LAW 531 Guide

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1) Which of the following is a distinguishing feature of a common law legal system?

A. Requiring guilt be proven beyond a reasonable doubt

B. The sole source of law is a comprehensive civil code

C. An appeal process

D. The making of law by the judges and the following of precedent

2) Which best describes the types of agency authority held by officers of a corporation?

A. Vicarious authority

B. Express and obvious authority

C. Implied and apparent authority only

D. Express, implied, and apparent authority

3) If an LLC fails to follow formalities such as keeping minutes of meetings, which of the following is true?

A. Only the managers of a manager-managed LLC will lose limited liability.

B. All members will lose their limited liability.

C. This failure will not result in imposing...

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