Canada Business Law

Question 31 (1 point) What does the duty to mitigate require of an employee whose position has been constructively terminated? The individual is expected to accept a lower-level job in another company to reduce his loss. It requires the former employee to take the first job available. O It requires the former employee to take reasonable steps to find comparable employment. The employee could be required to accept a lower position in the same company. Question 32 (1 point) Which of the following is least likely to qualify for intellectual property protection? O The unique name of a restaurant O A restaurant's advertising jingle O A unique recipe used by a restaurant The restaurant sells only organic food Question 33 (1 point) The Personal Property Security Act (PPSA) fulfills a number of purposes. Which of the following describes one of these purposes? O Protection of the public from unscrupulous lenders Protecting borrowers from exorbitant interest rates O Determining priority among creditors Prohibiting misleading statements in credit applications Question 34 (1 point) Which of the following is an advantage of incorporation? Shares are easily transferred. Shareholders owe a duty to the corporation. O Shareholders can veto the decisions of directors. There are no tax advantages as compared to a sole proprietorship. Shareholders are liable for debts of the corporation. Question 35 (1 point) Which of the following is a distinguishing characteristic of an unsecured debt? The absence of a security interest in the debtor's assets The financing arrangements are formal and deliberate O loan must be advanced within a designated period The incidental feature of routineness