Question

1.)Al Attorney is a divorce lawyer. Sam and Mary want him to represent them both in a divorce, as Sam and Mary have worked out all their property division and just need a lawyer to do the paperwork. What should Al tell them?

	a.	He can only represent one of them as he has a duty of loyalty and cannot serve two masters
	b.	He cannot represent either of them
	c.	He can represent both since there is nothing left in controversy between them
	d.	none of the above

2.)The personal representative of an intestate estate is called the

	a.	Executor
	b.	Administrator
	c.	clerk
	d.	none of the above

3.)Mary owns 10 shares of Acme stock.  At its annual shareholders meeting, there are 5 Directors to be elected. Mary is allowed to vote 50 votes for Director Smith. This is an example of

		straight voting
		cumulative voting
		proxy voting
		None of the above

4.)When Acme Corp. was first chartered, Joe bought 100 of the initial 1000 shares offered. Later, in order to raise more capital, Acme made an offering of 1000 more shares. Joe was offered 100 more shares of the new issue. This is called

	a.	a dividend
	b.	proxy rights
	c.	preemptive rights
	d.	none of the above

Answer 1

1. (c) He can represent both of them since nothing is left as a controversy between them.

There is technically no situation where two people can use the same divorce lawyer. However, Mediation is a process where a mutually chosen attorney helps the two parties to agree to the divorce terms. Here the lawyer only acts as a mediator and gives no legal advice.

2. (b) Administrator. A Personal Representative or a legal lawyer is the executor of the estate of the deceased person. if the deceased person died intestate then the personal representative will act as administrator

3. (c) Proxy Voting, it is the form of voting whereby the voting power of the decision-making body (in this case as Smith) is given to a representative for enabling a vote in absence. The representative (in this case as Mary) can be another member of the same body or external.

4. (c ) Pre-emptive rights : It is contractual right for acquiring certain property which has newly come into existence before it is offered to any other person or entity