Studentwhiz | LAW 575 Final Exam

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LAW 575 Final Exam

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LAW/575 Final Exam(Latest)

• 1)  Which of the following is true regarding
  state and federal court jurisdiction?
• In all cases, state courts have concurrent
  jurisdiction with the federal courts.
• Federal courts begin with exclusive jurisdiction
  until a state court intervenes.
• In all cases, state courts have exclusive
  jurisdiction unless the state's Supreme Court
  grants jurisdiction to a federal court in the
  state.
• In some cases, state courts have exclusive
  jurisdiction in some cases, state courts have
  concurrent jurisdiction with the federal courts.
•  
• 2) Which of the following is true regarding a
  sole proprietorship?
• A sole proprietor shares control of the
  management of the business.
• The sole proprietor keeps a portion of the
  profits from the business.
• Profits are not taxed as the personal income of
  the sole proprietor.
• A sole proprietor is personally liable for
  obligations of the business.

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