Question

Question 4 Joan and Henry have been married for years. Joan wants to buy and car,and she's not sure she wants Henry to co-own the car with her so she buys it alone (and is the only person listed on the titel.If Joan is planning t divorce Henry after she purchases this car, what rule of property ownership would she want to see if her state holds? OTangible Property O Tenants in Common O Joint Tenants Community Property estion 5 Winston needs help with his taxes and calls up Janet, a local tax accountant. The two talk about Winston's situation and readh an agrement on the level d senvices and how much they will cost.A week later, Janet the Winston's file and decides she needs to file a document withthe IRS on Winstons behalf. She and Winston never talked about thefling and it will cost $20, but Jlanetis confident she is authorized. Under what principal/agent concept would Janet have authority? Agency by Appointment Implied Authority Apparent Authority Lingering Apparent Authority uestion 6 Southwest Credit by Burton Union has loaned money to Buster.LLC an LLC owned excusively and Betsy Buster. The Busters borrowed money from Southwest Credit Union to "purchase equipment for their business. However later after the Busters have stopped making payments and Buster, LLC has filed for bankruptcy-Southwest Credit Union finds out the money was spent on a personal vacation. Will a court likely be villing to pierce the corporate vei and alow Union to go after the Busters personal assets? O Yes, the Busters had complete control and committed fraud O Yes, courts always allow credit unions to go after personal assets the Busters' actions did not cause harm to Southwest Credit Unin No, courts never allow credit unions to go after personal assets

Answer 1

Q 4 Joan bought a tangible property i.e. car The rule of property ownership she would want to see is Tangible Property Q5 Janet filed with IRS on Winston's behalf. It was implied that Winston would approve the same as this was necessary task and a job as a local tax accountant The principal/agent concept that woulfd give authority would therefore be: Implied Authority Q6 Lifiting of corporate veil occurs when the people running the Company use Company's name to commit acts of fraud The same has happened in the given case Therefore, court will most likely allow Southwest Credit Union to go after the Busters personal assets because The Busters had complete control and committed fraud