11. Sal, Cal and Hal own Big Store Limited, an incorporated company. Each of them owns one-third of the shares. Big Store Limited borrowed $60,000 from the bank to finance its operations. The business didn't succeed and was unable to repay the bank loan. The bank sued Big Store Limited, and learned that the company had no assets. The bank then sued Sal, Cal and Hal to recover the $60,000 debt. What is the maximum amount the bank could recover from Cal?

		none of the other answers are correct
		$60,000
		$20,000
		Nothing

9. In a personal bankrupcy, which debt is not discharged after 9 months from bankrupcy

		a TD visa debt
		a personal line of credit debt from bank of Montreal
		a debt owing to your dentist
		the debt for your student loan

4. An employer's duty to accomodate is the duty

		to provide daycare for all young children of employees
		to provide regular lunch breaks for all employees
		to hire a certain number of employees from disadvantaged groups in society
		to modify working conditions to meet the needs of individuals with special needs

12. Which statement is incorrect regarding the Personal Property Security Act?

The PPSA permits lenders to see what assets of the debtor have already been used to secure a loan

The PPSA allows lenders to see all unsecured loans the debtor has

The PPSA permits lenders to know what other registered debts/loans the debtor has

The PPSA allows a lendor to see where they are in priority regarding the debtor's debts

15 .Abi Accounting Firm acts as a trustee in bankruptcy for Rufus Restaurant Inc. Which of the following statements is incorrect?

Abi Accounting Firm will assess the estate and prepare a statement of Rufus Restaurant Inc.'s assets and liabilities

1. A driver of a snowplough accidentally crashed into a storefront. No one was hurt, but the store was significantly damaged. What can the owner do if the driver was charged and convicted of impaired driving?

		The owner of the store can sue the driver for the torts of assault and battery
		The owner of the store can sue the diver for the tort of negligence
		The owner of the store cannot sue the driver because no one was hurt in the crash
		The owner of the store cannnot sue the driver because he was prosecuted for a crime

All of Rufus Restaurant Inc's assets would be transferred to the the trustee in bankrupcy

Abi Accounting Firm will sell all of the Rufus Restaurant Inc.'s assets and give all proceeds to the owner's of Rufus Restaurant Inc.

2. Happy Hour Company is unable to meet it's debts. This means that:

		Happy Hour Company is insolvent and bankrupt
		Happy Hour Company is not happyt
		Happy Hour Company is bankrupt
		Happy Hour Company is insolvent

21. Termination of employment without any notice is

		prohibited by statutory law
		prohibited by common law
		permissible if thre is no signed contract
		permissible if there is just cause