LES 305 Final Exam Koretz | 120+
Questions & Answers | Grade A | 100%
Correct (Verified Solutions) 2026/2027
This LES 305 ASU Koretz Final Exam (120+ questions & Answers)
covers business law, ethical dilemmas, intellectual property, and SEC
regulations, designed for Lora Koretz’s course., multiple-choice questions,
and T/F on topics like trademarks, business entities, and securities law
(1933/1934 Acts).
Key Exam Topics & Definitions (Based on Search Results):
Intellectual Property (IP): Covers Madrid Agreement, knock-off
goods, trademarks, and patent-related opposition proceedings.
Business Structures: Liability protection (LLC) and capital raising,
including insights on going public.
Securities Regulation: Detailed questions on the Securities Exchange
Act of 1934, Williams Act (tender offers), 10-Q forms, and insider
trading.
Ethical Decision-Making: Features Laura Nash’s 12 questions and
"primum non nocere" (do no harm) principles.
Legal Defenses & Concepts: Comparative/contributory negligence,
assumption of risk, and caveat emptor (buyer beware).
Administrative Law: Consent decrees, FTC advertising regulations
(bait and switch), and corrective advertising.
Quiz_________________?
T/F
1
, General Partnerships are comprised of one or more general partners and one or
more limited parters -
Answer
False - this is limited partnership
Quiz_________________?
T/F
Prima Dacie evidence of a partnership exists if 2+ people agree to share profits -
Answer
True - partnership by implication
Quiz_________________?
T/F
Anyone who helps a partnership obtain a loan by holding himself out as a partner,
although he is not a parter may be liable on the loan -
Answer
True - Partnership by estoppel
held yourself out as a parter but you actually are
Quiz_________________?
General Partners are liable for -
2
, Answer
all of the partnership's debts personally
Quiz_________________?
T/f
Partnerships don't have to file tax returns -
Answer
False - must file informational tax returns
Quiz_________________?
T/F
each partner may bind a partnership to contracts w 3rd party -
Answer
true
Quiz_________________?
T/F
if partnership dies, the partnership property that belonged to dead partner goes
to the partner's estate -
Answer
3
, False - only the value of the partners interest goes to the estate
Quiz_________________?
T/F
when one partner dies, the partnership is automatically dissolved by law -
Answer
True
Dissolution occurs by operation of law at the death of a partner.
Quiz_________________?
T/F
Limited partners may manage the business and retain limited liability protection -
Answer
False
if you engage in management as a limited partner, you are no liable for Corp.
debts
Quiz_________________?
T/F
4
Questions & Answers | Grade A | 100%
Correct (Verified Solutions) 2026/2027
This LES 305 ASU Koretz Final Exam (120+ questions & Answers)
covers business law, ethical dilemmas, intellectual property, and SEC
regulations, designed for Lora Koretz’s course., multiple-choice questions,
and T/F on topics like trademarks, business entities, and securities law
(1933/1934 Acts).
Key Exam Topics & Definitions (Based on Search Results):
Intellectual Property (IP): Covers Madrid Agreement, knock-off
goods, trademarks, and patent-related opposition proceedings.
Business Structures: Liability protection (LLC) and capital raising,
including insights on going public.
Securities Regulation: Detailed questions on the Securities Exchange
Act of 1934, Williams Act (tender offers), 10-Q forms, and insider
trading.
Ethical Decision-Making: Features Laura Nash’s 12 questions and
"primum non nocere" (do no harm) principles.
Legal Defenses & Concepts: Comparative/contributory negligence,
assumption of risk, and caveat emptor (buyer beware).
Administrative Law: Consent decrees, FTC advertising regulations
(bait and switch), and corrective advertising.
Quiz_________________?
T/F
1
, General Partnerships are comprised of one or more general partners and one or
more limited parters -
Answer
False - this is limited partnership
Quiz_________________?
T/F
Prima Dacie evidence of a partnership exists if 2+ people agree to share profits -
Answer
True - partnership by implication
Quiz_________________?
T/F
Anyone who helps a partnership obtain a loan by holding himself out as a partner,
although he is not a parter may be liable on the loan -
Answer
True - Partnership by estoppel
held yourself out as a parter but you actually are
Quiz_________________?
General Partners are liable for -
2
, Answer
all of the partnership's debts personally
Quiz_________________?
T/f
Partnerships don't have to file tax returns -
Answer
False - must file informational tax returns
Quiz_________________?
T/F
each partner may bind a partnership to contracts w 3rd party -
Answer
true
Quiz_________________?
T/F
if partnership dies, the partnership property that belonged to dead partner goes
to the partner's estate -
Answer
3
, False - only the value of the partners interest goes to the estate
Quiz_________________?
T/F
when one partner dies, the partnership is automatically dissolved by law -
Answer
True
Dissolution occurs by operation of law at the death of a partner.
Quiz_________________?
T/F
Limited partners may manage the business and retain limited liability protection -
Answer
False
if you engage in management as a limited partner, you are no liable for Corp.
debts
Quiz_________________?
T/F
4
