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defamatory statements made in press about public figures are privileged if they are made without
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- Sherman corporation is domiciled in Georgia. It manufactures tanks (for now just one model) for personal use and sells them nationwide; it designs and manufactures the tanks in Georgia. As relevant here, it runs advertisements in Indiana on television, radio and social media. "Lay waste to anyone you get in an accident with and settle any personal disputes like a Civil War general marching to the sea. Get Sherman tough!" a typical advertisement says. It has 25 service centers in Indiana and runs 50 tank dealerships where it sells tanks to customers. Also as relevant here, Sherman co. sold one of its tanks to Sheridan in Ohio from a dealership in the state about two years ago. Sheridan died and his son Pope, also from Ohio, inherited the tank. Pope decided to take the tank on a cross country road trip. While driving through Indiana, he saw an RV that suited him better and traded his tank in at a used car dealership (not one that Sherman co. owned or operated). Grant purchased the tank from the reseller and when he got cut off by a motorist named Lee, took aim with the tank's turret, and tried to shoot the car off the road. Unfortunately, the barrel exploded, causing minor injuries. He sued Sherman co. for negligent design in Indiana court. Does the court have personal jurisdiction?A.No.B.No under the but-for test.C.No under the evidentiary test, but maybe under the but-for test.D.Yes under the evidentiary test and yes under the but-for test.
- At the beginning of 2015, Tate Corp. has E & P of $30,000. During 2015 the corporation generates $10,000 of additional E & P. On the last day of the tax year, the corporate distributes $35,000 to its sole shareholder, Tom, whose stock basis is $15,000 before the distribution. Which of the following statements is true?a)John recognizes $30,000 of dividend income.b)John's stock basis is now $0.c)Tate Corp.'s E & P balance is now $5,000.d)John recognizes a taxable gain of $20,000.