Is It Enough to Have a Lawyer? Must the Lawyer

question 70

Multiple Choice

Is it enough to have a lawyer? Must the lawyer also be competent and effective? The Supreme Court has recognized the effective assistance of counsel as essential to the Sixth Amendment guarantee (McMann v. Richardson 1970) .
-What standard was applied in the Court's most significant holding in 1984 as the proper criterion to be applied in making a determination of the ineffectiveness of counsel?

• A)an "objective standard of reasonableness."
• B)a "subjective standard of reasonableness."
• C)a "partial standard of reasonableness."
• D)a "qualified standard of reasonableness."

Identify conditions under which a competitive firm will choose to shut down or continue operating.

Explain how supply curves are derived and understand the principle of increasing marginal costs.

Understand the relationship between market structures and the decision-making of firms.

Analyze how pricing and output decisions are made in purely competitive markets.

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Definitions:

Bankruptcy Code

The set of laws that governs the process of bankruptcy in the United States, which allows individuals and businesses to discharge their debts or reorganize their financial obligations.

Automatic Stay

A legal provision that automatically stops lawsuits, foreclosures, garnishments, and all collection activity against the debtor the moment a bankruptcy petition is filed.

Secured Creditors

Creditors who have a legal right to specific assets of a debtor as collateral for the debts owed to them.

Repossession Proceedings

The legal process by which a lender takes back property when the borrower defaults on payments.