Posted: July 20th, 2016
A fundamental advantage of the corporate form over the partnership form is that:
A. partnership earnings are subject to double taxation.
B. corporations can more easily hold property over long periods of time.
C. the formalities involved in operating a corporation tend to be less.
all of the above.
D. all of the above
For ratification to be effective, the principal:
A. need not have capacity.
B. must have had capacity to do the act at the time it was done in the principal s name and when ratification occurs.
C. needs to only have capacity at the time the act is ratified, not at the time it was done in the principal s name.
D. none of the above
If the goods are in the buyer s possession when the buyer breaches the contract, the seller may recover the purchase price.
Bev ordered an alabaster colored mink coat from Poe s Furs. The coat had been specially made because she requires an unusually large size and requested a particular styling. The coat cost $5,500, of which Bev paid 0. Several months later, she decided that she did not want the coat and canceled the order, even though Poe s had completed the coat. Poe s then filed suit for the balance of the purchase price. What can Bev argue in defense?
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