All of the Following Are True Except

question 35

Multiple Choice

All of the following are true except

• A)the last to be paid off,whether the corporation does well or goes bankrupt,are the common stockholders.
• B)a key advantage of incorporating is limited liability.
• C)corporations account for about 50 percent of all business sales in the United States.
• D)corporations are controlled by the common stockholders.

Recognize the limitations and prerequisites that must be met for each remedy type.

Distinguish between compensatory, punitive, liquidated, and nominal damages and their applicability in contract breaches.

Grasp the principles of foreseeability and mitigation of damages in contract law.

Understand the doctrine of election of remedies and its implications in choosing among available legal options.

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Definitions:

Promissory Note

A fiscal agreement in which one side promises in writing to pay a fixed amount of cash to the other side, either immediately when demanded or on a future agreed date.

Promissory Note

A monetary tool involving a formal commitment from one party to compensate another party with a specific amount of money, either upon request or at an agreed future time.

Simple Interest

Interest reckoned only on the initial capital, disregarding compounded sums.

Yield

The income return on an investment, such as the interest or dividends received, expressed as a percentage of the investment's cost.