Macrotell sells its software CD's without any mention of the word "warranty" on the advice of its legal department. There is a brochure in every CD box that provides for a rebate and describes the functions the software performs. Because Macrotell rushed to get its new generation Doorways to market, the software has serious glitches that make it incompatible with most computers. What is the best description of Macrotell's situation: The description of the software functions as an implied warranty. O The description of the software functions as an express warranty. The description of the software functions as puffery. O Since there is no reference to the word "warranty" in the materials, there are no express warranties. Jimmy does all the purchasing for Surprise Lemonades. When Jimmy signs he only signs in the name of Surprise Lemonades. The vendors sue both Jimmy and Billy for non-payment. Which is most likely true? Only Jimmy is responsible for the debts of Surprise Lemonades. Jimmy and Billy both are equally responsible for the debts of the business. O Neither Billy or Jimmy are responsible for the debts of the bar. Only Billy is responsible for the debts of the bar. In your advice to Jimmy, you want to advise him he should try to accomplish two goals: avoid double taxation and have limited personal liability protection as an owner of the business. Therefore to accomplish both goals, what are his options? O A general partnership. O A "sub-chapter S" corporation. O A limited liability company. OTwo of the above. O All of the above. Question 35 2.5 pts With regard to a corporation, which is NOT correct: O Its day-to-day managers are the Board of Directors. The primary organizational document is its By-laws. O Its equity owners are its stockholders. O Its stockholders are protected from personal liability