Corporations/Securities/Mergers practice exams

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Corporations/Securities/Mergers practice exams

Postby crEEp » Mon Dec 06, 2010 1:09 am

I was googling for a while, and came across a treasure trove of sample exams + ANSWERS for a couple classes in which you might be interested. Check out -- it's awesome.


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Re: Corporations/Securities/Mergers practice exams

Postby 2013Hopeful » Mon Dec 06, 2010 5:14 am

This is great, thanks!


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Re: Corporations/Securities/Mergers practice exams

Postby barkschool » Sun Dec 06, 2015 11:09 pm

This is a really long ago necro, but it's still useful if you're studying for BA or Corps.

One question, I pulled a question/ answer on it from Agency Law, rule of "Apparent Authority." Does anyone off the top of their head have examples of apparent authority? I was under the impression that for the most part wearing the uniform was a dead giveaway fro apparent authority.

Question: wrote:Olivia Owner is the owner of Olivia’s Auto Repair, a sole proprietorship that services and repairs cars. Olivia recently hired Gretta Grease to work as an auto mechanic.
On November 1, Gretta was having difficulty with one of the shop’s hydraulic jacks, so she decided to buy a new one. She went to Sam’s Supply and said, “I work for Olivia’s Auto Repair. Olivia authorized me to buy a new jack.”
Gretta was wearing an Olivia’s Auto Repair uniform and Sam had seen Gretta working at Olivia’s, so he believed Gretta was authorized to make the purchase. In fact, Olivia had never said anything to Gretta about purchasing a new jack or any other equipment.
Gretta signed a purchase order to buy the jack for $500. The order listed “Olivia’s Auto Repair” as the purchaser.
Later that afternoon, when Sam attempted to deliver the jack, Olivia refused it, saying, “I didn’t order this.”
Discuss whether Olivia is liable to Sam’s Supply.

Answer: wrote:Olivia said nothing to Sam that would lead him to believe Gretta was authorized to purchase the jack. RSA § 27. Olivia allowed Gretta to wear an Olivia’s uniform, but a uniform alone should not lead anyone to believe the person is authorized to enter into a contract. Most auto mechanics and many other types of employees wear uniforms, without having any authority to enter into contracts. At most, the uniform should lead Sam to believe that Gretta was an agent of Olivia, which she was, but not that purchasing the jack was within her authority.

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