Question 17 (1point) Listen What is the result if a Division I proposal is rejected? debtor may make an additional proposal a meeting of the creditors debtor is released from bankruptcy debtor is required to seek an arrangement deemed bankruptcy of the debtor Question 19 (1 point) Listen Which term fills a similar role as a bond? debenture mortgage convertible note equity share preferred share Question 20 (1 point) Saved Listen > O II hp 48 5 6. & 7 C Listen Merrilee and Keith's business own several acres of vacant land adjoining the property where their greenhouse operations and large garden centre facility are located. The greenhouse side of the business is ready to expand. A senior lending officer of ImaBigBank is meeting with Merrilee and Keith to discuss the expansion plans and the financial needs of the business. How will the parties most likely be described on the mortgage if imaBigBank approves the financing? ImaBigBank is the mortgagee, and Keith and Merrilee are the mortgagors. Keith and Merrilee are the mortgagees, and ImaBigBank is the mortgagor. ImaBigBank is the mortgagee, and Keith and Merrilee's business is the mortgagor. Keith and Merrilee's business as the mortgagee, and ImaBigBank is the mortgagor Listen Following his accounting firm's audit team being hired by Canuck Inc. to review Northern Ltd.'s books, Tyson contacted several members he knew in the profession, advising them to buy Northern's shares. Trading in Northern's stock notably increased in ensuing weeks, driving the share price up, making it more expensive for Canuck to complete the takeover and prompting the securities commission to investigate. What did the securities commission find with respect to Tyson? The firm employing Tyson, not Tyson, owed a fiduciary duty to Canuck. The claimant's loss was too remote form the professional's actions. The firm will avoid vicarious liability, as Tyson acted independently. Tyson breached the fiduciary duty to maintain confidentiality of client information Listen What was the intended purpose of the creation and enactment of the Statute of Frauds? to avoid the difficulty in proving the value of goods or services exchanged to ensure proper transfer of land to impede perjury and fraud by documented evidence of specified types of contracts to allow performance to take the place of written duly executed agreement to require that commercial contractual relationships be stated in one document Question 51/1 point) Savad Listen Michael was severely injured in an automobile accident. While in hospital, he was visited by an insurance adjuster who made him a "take it or leave it" offer of $3,000 in full settlement of his personal injury claim. Michael accepted the offer because the adjuster told him there would be no further offers. If Michael's claim is actually worth $100,000, on what legal basis might the court cancel the agreement? because the agreement was illegal because Michael lacked capacity to contract because the agreement was entered into under duress because the agreement is unconscionable Question 54 (1 point) Soved Question 55 (1 point) Listen How is the general body of law governing contracts best characterized? statutory law constitutional law common law civic law criminal law Question 56 (1 point) Listen Grandview Developments negotiated an oral agreement with a landowner to purchase property on the outskirts of the city. Grandview intends to develop the landing a housing project. What is Grandview's legal position regarding this agreement? The agreement is not legally enforceable because the parties have not achieved a "meeting of the minds" This agreement is not legally enforceable because it is not supported by mutual consideration The agreement is legally binding on Grandview and the landowner. The agreement is not legally enforceable because it is not in writing, Question 57 (1 point)
