In class exercises
16 important questions on In class exercises
What do you understand by Sole ownership?
- Sole owner operate individually, this means his or her business is not based on contract with other natural/legal person.
- The owner has the capacity to represent the business.
- The owner reap all the profit but he or she is entirely responsible and liable for all private and business debts and liability.
Legal person are legal forms which exists independent of its
Under a legal form with legal personality, it is the business which owns ....... and enter into ...........
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Under a legal form with legal personality, it is the business which owns property and enter into contracts and not the
What are shareholders generally liable under Limited liability.
On what property creditors can take recourse for unpaid debts in case of a sole ownership business
On what property creditors can take recourse for unpaid debts in case of a partnership business.
But in a limited liability partnership, the creditors can only take recourse on the Partnership assets for the outstanding debts
On what property creditors can take recourse for unpaid debts in case of a limited liability business
What is the legal definition of representation?
What are the 5 core structural characteristics of the business corporation.
- Legal personality
- Limited liability
- transferable shares
- centralized management under a board structure
- shared ownership by contributors of capital
What is meant with pre-contractual risks?
What is a choice of law clause
What is a choice of forum clause
•Describe void and voidability (according to NL law)
What are the two potential legal consequences that can arise when there are issues or irregularities in the formation process of a legal act or a contract?
- Voidness
- Voidability
What are the legal phases of contracting processes?
- Pre-contractual negotiation
- Formation
- Performance
- Disputes
What are some challenges manager nowadays do face
- Globalization
- Pandemics
- War
- Responsible supply chain management
- Climate change
What is the contract lifecycle
- Contract request
- Authoring
- Negotiation
- Approval
- Execution
- Obligation management
- Contract amendment
- Audit & Reporting
- Renewal
The question on the page originate from the summary of the following study material:
- A unique study and practice tool
- Never study anything twice again
- Get the grades you hope for
- 100% sure, 100% understanding
