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In: Economics

1. which of the following is one reason that studying the legal environment of business is...

1. which of the following is one reason that studying the legal environment of business is helpful to students of business?

a. it help us understand how to reduce liability risks.

b. it help us solve legal problem without an attorney

c. it help us figure out how to get around regulations

d. while it is not pratical, it is of theoretical importance

2. shareholders of a corporation.

a. are liable for the debts of the corporation

b. are guaranted never to lose the value of their stock

c. can lose only the amount of their investment

d. may have personal assets made available to creditors of the corporations.

3. if an employer wishes to ensure that an employee does not leave in the future to engage in the same business, the employer is likely to enter into a contract with a/an

a. at will cause

b. covenant not to compete

c assignment of rights

d. strict performance clause

Solutions

Expert Solution

1. which of the following is one reason that studying the legal environment of business is helpful to students of business?

a. it help us understand how to reduce liability risks.

b. it help us solve legal problem without an attorney

c. it help us figure out how to get around regulations

d. while it is not pratical, it is of theoretical importance - this is the right answer, since theoretical understanding of legal environment of business helps understand other aspects of business better

2. shareholders of a corporation.

a. are liable for the debts of the corporation

b. are guaranted never to lose the value of their stock

c. can lose only the amount of their investment - this is the right answer. Their personal assets are not available to creditors

d. may have personal assets made available to creditors of the corporations.

3. if an employer wishes to ensure that an employee does not leave in the future to engage in the same business, the employer is likely to enter into a contract with a/an

a. at will cause

b. covenant not to compete - this is the right answer. A firm can sign a contract with a covenant not to complete to prevent a resigning employee from competing with it.

c assignment of rights

d. strict performance clause

Rahul Sunny answered 1 year ago

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