Maria Goes to Auto Mart to Test Drive a Corvette

question 2

Multiple Choice

Maria goes to Auto Mart to test drive a Corvette.While on the test drive,Maria is merely involved in a fender-bender.If Auto Mart sues Maria,what is the likely result?

• A)Maria is liable for trespass to personal property and obligated to pay Auto Mart the reasonable value of the car.
• B)Maria is liable for trespass to personal property and obligated to pay Auto Mart damages to compensate it for the loss in value of the car.
• C)Maria is liable for conversion and obligated to pay Auto Mart damages to compensate it for its loss of use of the car.
• D)Maria is liable for conversion and obligated to pay Auto Mart the reasonable value of the car.

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Definitions:

Voting Rights

The rights of shareholders to vote on corporate matters, such as the election of the board of directors.

Dividend Payments

Cash payments made by a company to its shareholders, often as a distribution of profits.

Treasury Stock

Shares that were once a part of the outstanding shares and have been bought back by the company.

Authorized Shares

The highest amount of shares a company is allowed to distribute, as outlined in its charter.