The subject is Legal strategy. Please answer all questions! Thank you in advance.

Choose all that cannot be changed through agreement between parties.

1. Actions against public order are null and void
2. Claims not exercised for a long time can no longer be enforced ("statute of limitations")
3. Money and goods are exchanged simultaneously when goods are sold
4. Ownership rights confer full control over an asset.
5. One can annul without consequences a sales transaction conducted with a sales representative visiting residences, up to one week from the visit.

Choose all that are appropriate regarding sole proprietorships and corporations.

1. If there is no public regulation governing an economic activity, one may immediately start a business without completing any formalities as a sole proprietorship.
2. Given that lenders to a stock company can only lay claim to the assets owned by the company, laws prescribe the minimum amount of assets that must be held by stock companies
3. The owner of a sole proprietorship faces unlimited liability.
4. In startups, sole proprietorships have more credibility than corporations.
5. As businesses grow larger, it would be possible to streamline legal relations through incorporation.

Choose the most appropriate statement regarding the description of a stock company.

1. The establishment of a stock company requires parliamentary approval.
2. The stock company is, by design, suited to collect small investments from a large number of people.
3. Directors of a stock company should be selected from corporate insiders knowledgeable about the business of the company.
4. The managers of a stock company is collectively liable to the business counterparts of the company.
5. High-ranking officers of a stock company must hold equity in that company

Choose all that are appropriate statements with regard to corporate governance.

1. While there are ways to avoid legal censure, it is good practice for directors of a corporation to refrain from doing significant business with the corporation.
2. Diversity of views introduced by independent (outside) directors should be useful in avoiding "groupthink" when boards are making decisions.
3. Checks and balances are essential in ensuring good corporate decision-making.
4. The majority of the board of directors should be independent (outside) directors to ensure impartiality.
5. Even if shareholders are the owners of corporations, that does not mean that corporations may ignore the interests of other stakeholders.

Choose all appropriate statements regarding the funding of corporations.

1. There cannot be a situation where the issue of common stock is an appropriate funding option except at the time of incorporation.
2. Even if share issue substantially below the market price is unfair to existing shareholders at a listed corporation, such an action may be permitted under certain circumstances.
3. The par value of shares, in jurisdictions where it exists, is important as the basis for dividend payouts.
4. When a stock company is issuing shares to raise fresh funds, it must do so at the same price all the time
5. Funds raised through the issue of bonds must be repaid at maturity.

Choose all that are appropriate statements regarding disclosure by corporations.

1. One of the aims of corporate disclosure is to monitor whether corporate power is exercised appropriately.
2. There is no need for unlisted corporations to disclose information because the purpose of disclosure is to efficiently price traded securities.
3. Given that information is the source of a corporation's competitiveness, a corporation does not have any incentive to disclose information and thus must be compelled to do so.
4. The Twitter channel of a corporate CEO is a good way to disseminate timely information about the corporation, and CEOs should be encouraged to freely express their views.
5. EDINET is the name for the electronic disclosure systems for corporations that issue securities in the United States.

Choose the statement that is not appropriate regarding insider trading.

1. Some material non-public information need not be disclosed before someone can trade on the basis of that information.
2. Information regarding an imminent takeover bid is not a piece of information that would come from the (target) corporation and thus is not subject to corporate disclosure, but it is considered insider information and trading on it would result in civil/criminal penalties.
3. There is a view that insider trading is beneficial to society because such trading will have the effect of enhancing the information content of security prices and thus enhance market efficiency.
4. Insider trading rules contribute to maintaining the trust of people in a fair securities markets.
5. Corporate officers should be banned from trading in the shares of the corporation they serve.

Choose all that are appropriate statement regarding contracts.

1. The general rule in civil law jurisdictions is that parties entering into contracts must observe strict formalities.
2. A promise with friends to play on the beach this weekend is not a contract because it is not intended to be legally enforceable.
3. Communication of acceptance which attempts to change the terms of an offer may be regarded as a counter-offer.
4. The most prominent difference between civil and common law jurisdictions regarding contracts is that consideration is essential in common law jurisdictions.
5. When ABC Co, made an offer to sell widgets to XYZ Co., PQR Co. may accept the same offer to trade on the same terms.