SD Bar Multistate Essay

Question 1

What is the primary fiduciary duty that corporate directors owe to the corporation and its shareholders?

Accepted Answer

Duty of Loyalty

Answer

Duty of Disclosure

Answer

Duty of Prudence

Answer

Duty of Fairness

Question 2

In a divorce proceeding, how do courts generally divide marital property in states that follow the equitable distribution approach?

Accepted Answer

Based on each spouse's financial and non-financial contributions and needs

Answer

Equally between spouses

Answer

According to each spouse's pre-marital property

Answer

Based on a predetermined formula

Question 3

What must a plaintiff demonstrate to obtain a default judgment when the defendant fails to respond to a complaint?

Accepted Answer

That the defendant has been properly served with process

Answer

That the defendant has filed a counterclaim

Answer

That the plaintiff has won a summary judgment motion

Answer

That the defendant's answer was late but filed

Question 4

What is a common ground for contesting the validity of a will?

Accepted Answer

The will was not signed by the testator

Answer

The testator was over 18 years old

Answer

The will was witnessed by only one person

Answer

The will was executed in a foreign country

Question 5

What standard of review is applied when evaluating legislation that restricts a fundamental right?

Accepted Answer

Strict Scrutiny

Answer

Rational Basis Review

Answer

Intermediate Scrutiny

Answer

Deferential Review