The Somerset Case

question 109

Multiple Choice

The Somerset case:

• A) ended the importation of slaves into the United States.
• B) ruled that slavery was unlawful in England.
• C) freed slaves from the ship Amistad.
• D) used the language of liberty to rule that free blacks could own property.
• E) set the precedent that fugitive slaves had to be returned to their masters.

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Definitions:

Separate Capital Account

An account used in partnerships and sole proprietorships that shows the owner's original investment plus any retained earnings or minus any losses and withdrawals.

Partnerships

A form of business organization in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.

Treasury Stock

Treasury Stock represents shares that were issued and subsequently repurchased by the company, reducing the amount of outstanding stock on the open market.

Common Stock

A type of security that represents ownership in a corporation, granting holders voting rights and a share in the company’s profits via dividends.