ETH 321 OUTLET Motivated Minds/eng106rank.com ETH 321 OUTLET Motivated Minds/eng106rank.com | Page 30

Identify the type of equitable remedy in which a court orders a party to
refrain from taking a particular action.
14.
Adrian, who runs a café, has a contract with Mariam, who is a supplie
r. The contract states that Mariam will provide hundred cartons of coc
oa powder to Adrian every week for a set price. However, after making
the contract, Mariam realizes that there is an error in it. The price is m
uch lower than had been agreed. Mariam decides to have the terms of
contract changed. The court rules that the price term of the contract be
revised. What type of remedy is illustrated in the scenario?
15.
What is true about specific performance as an equitable remedy for co
ntract breaches?
16.
What is true about the formation of a sole proprietorship?
17.
Identify the true statement about general partnerships.
18.
Anita and Sameera own a salon together. Anita manages the business
and takes management decisions herself. On the other hand, Sameera
has only invested capital in the business. According to the agreement,
Anita assumes responsibility for all the debts and liabilities of the salo
n, but Sameera is liable only for the amount that she contributed to the
business. What type of business form is illustrated in the scenario, ass
uming necessary documents are filed with the appropriate jurisdiction
?
19.
Which statement is true in the context of limited liability companies (L
LCs)?
21.
Which of the following business firms is most likely to be a limited liab
ility partnership (LLP)?
22.
Which of the following statements is true about corporations?