Question 1

General partnerships must have a written partnership agreement.

Accepted Answer

While it is recommended for general partnerships to have a written partnership agreement, it is not a legal requirement. Partnerships can also have an oral agreement or conduct business without a formal agreement, although this is not advised as it can lead to misunderstandings or disputes.

Question 2

A living will allows for the health care proxy to commit euthanasia.

Accepted Answer

A living will does not allow for the health care proxy to commit euthanasia. A living will typically provides instructions for medical treatment in end-of-life situations, but euthanasia is not a legal option in most jurisdictions.

Question 3

A nonlawyer may not be appointed to be someone's attorney-in-fact.

Accepted Answer

A nonlawyer can be appointed to be someone's attorney-in-fact as long as they meet the legal requirements and qualifications for the role.

Question 4

In a partially disclosed agency,the agent is not liable to the third party with whom the agent has transacted business.

Accepted Answer

In a partially disclosed agency, the agent may be held liable to third parties with whom the agent has transacted business, as the third party is not aware of the principal's existence or identity.

Question 5

"I hereby give to my secretary my Krups coffee maker" is a specific gift.

Accepted Answer

This statement clearly identifies the item being given (the Krups coffee maker) and to whom it is being given (the secretary), making it a specific gift.

Question 6

Paternity actions are brought to establish who the biological mother of a child is.

Accepted Answer

Paternity actions are brought to establish who the biological father of a child is.

Question 7

Attestation is the process where a will put through the legal process in order to distribute the testator's property.

Accepted Answer

Attestation is the process of witnessing the signing of a document, such as a will, to confirm its authenticity, not the distribution of property.

Question 8

Limited partners give up their right to profits in exchange for limited liability.

Accepted Answer

Limited partners do not give up their right to profits; they still receive a share of the profits but have limited liability, meaning they are not personally responsible for the debts of the partnership beyond their investment.

Question 9

If a bride-to-be breaks her engagement,she generally must return the engagement ring under both the fault rule and the objective rule standards.

Accepted Answer

Both the fault rule and objective rule mandate that the engagement ring should be returned if the engagement is broken by the bride-to-be.

Question 10

Spouses can engage in discovery-getting dirt on each other-in no fault divorces.

Accepted Answer

In no-fault divorces, spouses can still engage in the discovery process, which allows them to request and gather information from each other in order to make decisions about property division, spousal support, child custody, and other related matters. This can include getting "dirt" on each other, although the focus of discovery should be on gathering relevant facts and information rather than simply trying to attack or undermine the other person.

Question 11

A sole proprietorship protects the owner from unlimited liability.

Accepted Answer

A sole proprietorship does not protect the owner from unlimited liability, as the owner is personally responsible for all debts, liabilities, and legal actions of the business.

Question 12

There are no significant differences between a principal-agent and a principal-independent contractor relationship.

Accepted Answer

There are significant differences between a principal-agent and a principal-independent contractor relationship. In a principal-agent relationship, the agent is authorized to act on behalf of the principal and has certain duties and obligations to the principal. In contrast, an independent contractor is engaged to perform a specific task or project and has more autonomy in how they complete the work. Additionally, the principal does not have as much control over an independent contractor as they would over an employee or agent.

Question 13

A partner cannot violate the terms of the partnership agreement and withdraw and dissolve the partnership at any time.

Accepted Answer

A partner can violate the terms of the partnership agreement and attempt to withdraw and dissolve the partnership, but they may be held liable for breaching the agreement and may have to compensate the other partners for damages. The terms for withdrawal and dissolution are usually specified in the partnership agreement.

Question 14

A holographic will must be in writing.

Accepted Answer

A holographic will is a handwritten will, but it must still be in writing. It cannot be an oral or spoken agreement.

Question 15

An annulment is the legal equivalent of saying,"you and your spouse were never married."

Accepted Answer

An annulment is a legal process by which a marriage is declared null and void, retroactively invalidating the marriage from the beginning, as if it never existed. Therefore, it is equivalent to saying "you and your spouse were never married."

Question 16

The only requirement to marriage eligibility is that the parties be at least 18,unless they have their parents' permission.

Accepted Answer

The age requirement for marriage eligibility varies by country and state, but it is not always 18. In some places, individuals may be able to marry at a younger age with parental or judicial consent.

Question 17

A person may not be both a general partner and a limited partner in the same limited partnership.

Accepted Answer

A person can be both a general partner and a limited partner in the same limited partnership, but they must fulfill the responsibilities and liabilities associated with each role separately.

Question 18

The party who agrees to act on behalf of another is called the principal.

Accepted Answer

The party who agrees to act on behalf of another is called the agent, while the party on whose behalf the agent acts is called the principal.

Question 19

In an agency by ratification,the principal approves of,or agrees to be bound by,the agent's unauthorized act.

Accepted Answer

In an agency by ratification, the principal retroactively authorizes or confirms an agent's unauthorized act, thereby agreeing to be bound by it.

Question 20

Lineal descendants share equally when without degree of relationship when the distribution is made per stirpes.

Accepted Answer

Per stirpes distribution means that descendants inherit based on their deceased ancestor's share, not equally among all descendants.

Quiz 1: Midterm One