Ernie Is a Director of Five-Star Properties, Inc

question 41

Multiple Choice

Ernie is a director of Five-Star Properties, Inc. Ernie is a property appraiser. Five-Star makes several purchases in which it pays too much. Ernie approves all the transactions without evaluating them. He is most likely liable for breach of​

• A) the duty of care.​
• B) ​none of the choices.
• C) ​the duty of loyalty.
• D) ​the business judgment rule.

Differentiate between types of premises visitors and their legal implications.

Define and execute initial steps in legal research effectively.

Recognize the importance of working efficiently as a paralegal to contribute to reasonable client billing.

Understand how to define and prioritize research issues in legal cases.

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Definitions:

Apartment Building

A residential building containing multiple apartments for rent or lease.

Cost Recovery Deduction

A tax deduction that allows taxpayers to recover the cost of an asset over the time the asset is used, typically through depreciation.

Cost Recovery Deduction

A tax deduction that allows a taxpayer to recover the cost of property or assets over time through depreciation.

Warehouse

A large commercial building for storing goods. Warehouses are used by manufacturers, importers, exporters, wholesalers, transport businesses, customs, etc.