Business Law
Pre-Test Questions
Course Introduction
Business Law provides students with a foundational understanding of the legal environment in which businesses operate. The course covers essential topics such as contract law, agency, torts, intellectual property, and the structure of business organizations including partnerships and corporations. It also explores ethics, regulatory compliance, dispute resolution mechanisms, and the impact of law on commercial transactions. By analyzing real-world cases and legal scenarios, students develop the ability to identify legal risks, make informed decisions, and navigate the complex landscape of business operations within the framework of local and international laws.
Recommended Textbook
Business Law Text and Exercises 7th Edition by
Roger LeRoy Miller
Available Study Resources on Quizplus
43 Chapters
3094 Verified Questions
3094 Flashcards
Source URL: https://quizplus.com/study-set/3642
Page 2
Chapter 1: Introduction to the Law and Our Legal System
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72388
Sample Questions
Q1) The best definition of a precedent is
A)a law developed from custom.
B)a judicial proceeding for the determination of a dispute between parites in which rights are enforced or protected.
C)a proceeding by one person against another in court.
D)a court decision that furnishes an example or authority for deciding subsequent cases involving identical or similar facts.
Answer: D
Q2) Administrative law includes only state regulations.
A)True
B)False
Answer: False
Q3) No state has adopted the Uniform Commercial Code in its entirety.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Ethics in Business
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72389
Sample Questions
Q1) John is a business manager for a small corporation.Which of the following is not an ethical dilemma that John is likely to encounter?
A)Deciding what kind of pizza to order for a company meeting.
B)Deciding whether to lay off three employees or keep paying their salaries and take a loss in corporate profits.
C)Deciding whether to say something to an employee who has been making rude sexual jokes in the workplace.
D)Deciding what to tell a reporter about the recent drop in corporate stock prices.
Answer: A
Q2) Kennedy Capital Corporation provides other firms with funds to expand op?erations.If Kennedy strictly complies with existing laws,the firm will
A)fulfill all business ethics obligations.
B)fulfill no business ethics obligations.
C)fulfill some business ethics obligations.
D)not need to fulfill any business ethics obligations.
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
4
Chapter 3: The Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72390
Sample Questions
Q1) Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case.
A)True
B)False
Answer: True
Q2) The case of Max v.National Credit Co.is heard in a trial court.The case of O! Boy! Ice Cream Co.v.Percy is heard in an appellate court.The difference be?tween a trial and an appellate court is whether
A)a trial is being held.
B)the court is appealing.
C)the parties question how the law applies to their dispute.
D)the subject matter of the case involves complex facts.
Answer: A
Q3) All states have intermediate appellate courts.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Constitutional Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72391
Sample Questions
Q1) The First Amendment protects defamatory speech.
A)True
B)False
Q2) Brad stands in front of Rooster's Round-Up Café,shouting "fighting words" that are likely to incite Rooster's patrons to respond violently.The First Amendment protects such speech
A)all of the time.
B)none of the time.
C)only if it is noncommercial.
D)only if it is symbolic.
Q3) The Financial Institutions Association would like a certain law enacted,administered,interpreted,and enforced in the best interest of its members,which include banks.Under the Constitution,Congress
A)administers the laws.
B)enforces the laws.
C)interprets the laws.
D)makes the laws.
Q4) A law that has any impact on religion is unconstitutional.
A)True
B)False
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Torts and Cyber Torts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72392
Sample Questions
Q1) Defense of property is NOT a defense to an allegation of assault or battery.
A)True
B)False
Q2) Class-action lawsuits are suits in which a number of persons join together to bring an action.
A)True
B)False
Q3) Caleb is driving a car in which Duffy is a passenger when an accident occurs.Caleb and Duffy are emotionally rattled,but neither is physically hurt.Caleb is not liable to Dufy on a negligence theory because
A)both parties were emotionally rattled.
B)Caleb did not apparently intend to cause an accident.
C)Duffy must have been comparatively negligent.
D)Duffy was not injured.
Q4) To avoid liability for negligence,a business owner must protect its pa?trons against all risks.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Intellectual Property and Internet Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72393
Sample Questions
Q1) Riley invents a new deep-sea fishing net,which he names "SeaMaster." He also writes the operating manual to be included with each net.Riley could obtain copyright protection for
A)the net.
B)the "newness" of the net.
C)the name.
D)the operating manual.
Q2) Li'l Canine Company (LCC) uses a trademark that neither LCC nor anyone else has registered with the government.Under federal trademark law,LCC
A)can register the mark for protection.
B)cannot register a mark that has been used in commerce.
C)has committed trademark infringement.
D)must put off registration until the mark is out of use for six months.
Q3) Ryan invents a new kind of pen for taking notes in history classes.Which of the following is NOT a necessary step in obtaining a patent for Ryan's invention?
A)Proving that the invention is novel
B)Proving that the invention is marketable
C)Proving that the invention is useful
D)Proving that the invention is not obvious in light of current technology
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Criminal Law and Cyber Crime
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72394
Sample Questions
Q1) A crime can be committed only against persons.
A)True
B)False
Q2) Kino sees a DVD player on the porch of Lulu's house,takes the player to his home,and tells everyone he owns it.Maya,holding a knife,forces Nick to give her his boom box,and runs away with it.Which of these acts are crimes,and what are the differences among them?
Q3) Ludwig receives from Milo a marimba stolen from Nadine.To be criminally liable,Ludwig must know A)Milo.
B)Nadine.
C)that the marimba is stolen and Ludwig must intend to keep it.
D)what a marimba is.
Q4) Thinking about killing someone constitutes the crime of attempted murder.
A)True
B)False
Q5) It is not a crime to defraud the public through the use of ads on television.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Introduction to Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72395
Sample Questions
Q1) If a voidable contract is avoided,the parties to it are released from it.
A)True
B)False
Q2) Green Grocers,Inc.,enters into a contract with Hiway Transport Company for the deliv?ery of a shipment of fresh produce.In a later dispute between these parties over the delivery,the doctrine of quasi contract cannot be used because A)both of the parties involved are businesses.
B)at least one of the parties had greater bargaining power.
C)the subject of the contract was a service.
D)there is an actual contract covering the subject in dispute.
Q3) Jim tells Dana that he will take her out to lunch on Thursday.Jim has made Dana a A)prediction.
B)promise.
C)bilateral contract.
D)void contract.
Q4) In contract law,intent is determined by the objective theory of contracts.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Offer and Acceptance
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72396
Sample Questions
Q1) An offeror's subjective intent determines the effectiveness of an offer.
A)True
B)False
Q2) Tomato Farms (TF) offers to sell Unified Grocers,Inc.,a boxcar load of tomatoes.The offer is sent via fax.An acceptance is re?quired urgently.It would be most reasonable for Unified to accept via
A)a fax,a letter,or a phone call to TF within two weeks.
B)a fax sent to TF as soon as the offer is received.
C)a letter mailed to TF within two days.
D)a phone call to TF within five business days.
Q3) Liz offers to sell Jock her iPad for $500 without any accessories.Under the mirror image rule,Jock's response will be considered an acceptance if the terms of the acceptance
A)exactly mirror those of the offer.
B)change the items offered,but do not change the price.
C)change the price,but do not change the items offered.
D)change both the price and the items offered.
Q4) An invitation to negotiate-"can you afford this?"-is an offer.
A)True
B)False
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Consideration
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72397
Sample Questions
Q1) A release does not require consideration to be legally binding.
A)True
B)False
Q2) The doctrine of promissory estoppel does not apply if there exists a clear and definite promise.
A)True
B)False
Q3) In May,Alex agrees to work for Beta Sales Company at $800 per week for a year beginning June 1.The following January,Competitive Merchandising,Inc.,offers Alex the same work at $900 per week.Alex tells Beta about the offer.Beta offers to enter into a new contract with Alex at $875 per week.If Alex agrees,is the new Beta contract enforce?able? Why or why not?
Q4) A promise to pay for an act that has already occurred is enforceable because the event is certain.
A)True
B)False
Q5) Consideration is always money.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Capacity
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72398
Sample Questions
Q1) Loans are usually viewed as necessaries if they are obtained for the purpose of purchasing other necessaries,such as food.
A)True
B)False
Q2) If a parent directs a child to commit a tort,then the parent can be held liable for the tort committed by their child.
A)True
B)False
Q3) A minor may enter into a contract for the sale of alcoholic beverages if the other contractual party is an adult.
A)True
B)False
Q4) A mentally incompetent person can enter into legally binding contracts on his or her own behalf.
A)True B)False
Q5) The age of majority in most states is eighteen years.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: The Legality of Agreements
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72399
Sample Questions
Q1) Boz runs an illegal gambling business and pays Colin,a police officer,not to interfere.The payments are discovered.Boz and Colin are sent to prison.With respect to the amount of the payments,Boz can recover
A)all of it.
B)none of it.
C)only as much as Colin has not spent.
D)only as much as Colin has spent.
Q2) At Glamour Mattress Store,Robbie signs a contract to buy a suite of bedroom furniture.The contract sets a schedule of $500 monthly payments,subject to a late fee of 150 percent.Glamour's salesperson hurries Robbie through the deal,giving her no opportunity to read the contract.This is most likely
A)an adhesion contract.
B)procedural unconscionability.
C)substantive unconscionability.
D)an enforceable contract.
Q3) An adhesion contract is a contract drafted by one party and presented to another on a take-it-or-leave-it basis.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 14
Chapter 13: Mistakes and Other Contract Defects
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72400
Sample Questions
Q1) At an auction for the first time,Max bids on an object,believing that the auctioneer requested an amount less than the price actually asked.Max is
A)liable on the bid.
B)not liable on the bid because Max misunderstood the auctioneer.
C)not liable on the bid because the auctioneer misstated the price.
D)not liable on the bid because the object is probably overpriced.
Q2) A fact is objective and verifiable.
A)True
B)False
Q3) Garth owns two all-terrain vehicles (ATVs),worth
$1,000 and $500,re?spec?tively.Helen agrees to buy "Garth's ATV" for $750.Garth believes,in good faith,that he is selling the $500 ATV.Helen believes,in good faith,that she is buying the $1,000 ATV.In this situation
A)Garth is entitled to $750 for the $500 ATV.
B)Helen is entitled to the $1,000 ATV for $750.
C)Helen must buy both ATVs for $1,500.
D)there is no contract.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Written Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72401
Sample Questions
Q1) Dixie May enters into a contract to buy one hundred pounds of pecans from Margaret.The contract must be in writing if the pecans cost
A)$100.
B)$150.
C)$250.
D)$500.
Q2) Under the Statute of Frauds,all contracts induced by fraud must be in writ?ing to be enforceable.
A)True
B)False
Q3) An oral contract for a sale of goods for more than $5,000 is NOT enforceable even if the parties to it admit to its existence in court.
A)True B)False
Q4) An integrated contract is a contract with more than one subject or part. A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Third Party Rights
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72402
Sample Questions
Q1) A contract cannot prevent the assignment of the right to receive funds.
A)True
B)False
Q2) Vested is the condition in which rights have taken effect and cannot be taken away.
A)True
B)False
Q3) An assignment of rights in real estate often cannot be prohibited.
A)True
B)False
Q4) A life insurance contract involves an intended beneficiary.
A)True
B)False
Q5) All that a delegator needs to do to make a delegation effective is to express an intention to make the delegation.
A)True
B)False
Q6) An intended beneficiary can sue directly to enforce a promisor's promise. A)True
B)False
Page 17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Contract Discharge and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72403
Sample Questions
Q1) Wilson owes Shelby $5,000 for repairs on Wilson's Bobcat Skidsteer.Wilson has financial troubles and he and Shelby sign an accord,in which Wilson promises to pay $4,000 and give Shelby his mountain bike within thirty days instead of the $5,000.Wilson's delivery of the bike and $4,000 to Shelby is
A)an accord.
B)satisfaction.
C)substantial performance.
D)novation.
Q2) Punitive damages are generally available in contract disputes.
A)True
B)False
Q3) Building Restoration,Inc.(BRI),enters into a contract to refurbish an old train depot for Casual Dining,Inc.,to open as Eat Up Restaurant.If BRI completes most of the work promised in the contract,its performance will be A)absolute.
B)complete.
C)material.
D)substantial.
To view all questions and flashcards with answers, click on the resource link above.
18
Chapter 17: E-Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72404
Sample Questions
Q1) Under the UETA,a typed name at the end of an email message is NOT considered an e-signature.
A)True
B)False
Q2) Jane orders a laptop and some software.When the goods arrive,Jane opens the boxes.If the shrink-wrap agreement for the products includes the usual terms,and Jane does not want to accept them,most likely she must
A)return the laptop only.
B)return the software only.
C)return the laptop and software.
D)file a lawsuit against the manufacturer.
Q3) National Shipping Corporation and Office Software Company (OSC) make a deal for OSCs products,communicating entirely online.Under the UETA,an electronic record is considered sent
A)only at a midway point between the sender and recipient.
B)only on coming into the recipient's control.
C)only on leaving the sender's control.
D)when it leaves the sender's control or comes into the recipient's control.
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Introduction to Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72405
Sample Questions
Q1) No oral contract is enforceable under the UCC.
A)True
B)False
Q2) The UCC requires that the mirror image rule be followed for all acceptances.
A)True
B)False
Q3) Retail Music,Inc.,offers to buy from Super Products Corporation (SPC) 1,000 blank CDs of a certain brand.Without notifying Retail,SPC timely ships CDs of a different brand.This shipment is
A)an acceptance of the offer and a breach of the parties' contract.
B)an acceptance of the offer and a fulfillment of the parties' contract.
C)a refusal of the offer and a breach of the parties' contract.
D)a refusal of the offer and a fulfillment of the parties' contract.
Q4) Stocks are an example of property that is governed by the UCC Article 2.
A)True
B)False
Q5) Under the UCC,parties to sales and lease contracts are NOT free to establish whatever terms they wish.
A)True
B)False
Page 20
To view all questions and flashcards with answers, click on the resource link above.
Chapter 19: Title and Risk of Loss
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72406
Sample Questions
Q1) Pam buys from Midtown Motors a used sport utility vehicle (SUV). The SUV was manufactured by Gem Vehicles,Inc.,and previously owned by Ron. Regarding title to the SUV,Pam acquires
A)whatever title Midtown had.
B)whatever title Gem had.
C)whatever title Ron had.
D)no title.
Q2) Quality Watches,Inc.,ships an assortment of timepieces to Retail Jewelers,Inc.,which agrees to pay for items that are not re?turned within six months.This is
A)a bailment.
B)a consignment.
C)a sale on approval.
D)a sale or return.
Q3) If a lessor is a merchant,the risk of loss passes to a lessee when the lessee takes physical possession of the goods.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 20: Performance and Breach
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72407
Sample Questions
Q1) Ramblin' Country Stables contracts to buy 1,000 horseshoes from Blacksmith,Inc.,for $1 per shoe.When the market price decreases to 50 cents per shoe,Ramblin' refuses to go through with the deal.Blacksmith can recover
A)$1,500.
B)$1,000.
C)$500.
D)$0.
Q2) On a lessee's insolvency,the lessor can stop delivery of the goods.
A)True
B)False
Q3) Noni and Myra enter into a contract for a sale of clarinets and other wind instruments.Noni delivers,but Myra does not pay.Noni can normally recover as damages the difference between
A)any loss avoided and any profit gained.
B)the actual price and the hoped-for price.
C)the contract price and the market price.
D)the current prices in the parties' locations.
Q4) A buyer may reject a seller's goods under any circumstances.
A)True
B)False
Page 22
To view all questions and flashcards with answers, click on the resource link above.
Chapter 21: Warranties and Product Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72408
Sample Questions
Q1) Forest & Field Company makes and leases a backhoe to Zac.Due to a defect attributable to Forest & Field's negligence,Zac is injured in an accident in which his neighbor Aaron is also hurt.In a product liability suit based on negligence,Forest & Field may be liable to
A)Aaron only.
B)no one.
C)Zac and Aaron.
D)Zac only.
Q2) Sweet Candy,Inc.,and Tasty Treats stores enter into a contract for a sale of confections.Sweet,a merchant who deals in goods of the kind sold,makes express warranties in connection with the sale.Under the UCC,at the time a contract is formed,an express warranty can be disclaimed or modified
A)by clear,conspicuous language called to the buyer's attention.
B)by implied affirmations of fact relating to the goods.
C)in any way that the seller sees fit for the ordinary purpose.
D)in no way.
Q3) Promises of fact made during the bargaining process are express warranties.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 23
Chapter 22: Consumer Protection
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72409
Sample Questions
Q1) Account numbers on credit-card receipts must be shortened so that merchants,employees,and other with access to the receipts cannot obtain a consumer's name and full credit-card numbers.
A)True
B)False
Q2) Albert's All-You-Can-Eat Buffet is a national chain with restaurants in every state.Under the Patient Protection and Affordable Care Act of 2010,Albert's must post the A)caloric content of the foods.
B)origin of the foods.
C)price of the foods.
D)chemical composition of the foods.
Q3) Sally's Sofamart runs an ad in the local paper.The ad will be considered deceptive if
A)a reasonable consumer would be deceived by one of its claims.
B)it contains puffery.
C) it contains obvious exaggerations.
D)it contains scientific terms.
To view all questions and flashcards with answers, click on the resource link above.
24
Chapter 23: The Essentials of Negotiability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72410
Sample Questions
Q1) Stating on an instrument the underlying terms of an agreement renders the instrument nonnego?tiable.
A)True
B)False
Q2) On a sheet of paper,Elle writes,without her signature,"I acknowledge that I owe Frank $600,payable out of the proceeds of the sale of my car,a 1995 Honda Civic,which I promise to advertise 'For Sale' next week.Payment is to be made on or before six months from today." What type of instrument is this? Is it nego?tiable? If not,why not?
Q3) A demand instrument is payable immediately after it is issued.
A)True B)False
Q4) An instrument payable "with interest" must specify a particular rate to be negotiable. A)True B)False
Q5) A time draft is payable on sight.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 24: Transferability and Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72411
Sample Questions
Q1) Jane is Karin's agent.As Karin's agent,Jane signs a check to Happy Home Repairs,Inc.With regard to the check
A)Jane has primary liability.
B)Jane and Karin have primary liability.
C)Karin has primary liability.
D)neither Jane nor Karin has primary liability.
Q2) When an instrument has a forged indorsement,the loss usually falls on the party whose indorsement was forged.
A)True
B)False
Q3) A person who acquires an instrument knowing that the instrument contains an unauthorized signature can still be afforded HDC protection.
A)True
B)False
Q4) A fictitious payee is a payee on a negotiable instrument whom the maker or drawer does not intend to have an interest in the instrument.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 25: Checks and Banking in the Digital Age
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72412
Sample Questions
Q1) Rikki signs a check "pay to the order of Scholar University" drawn on Rikki's account in State Bank to pay her tuition.Rikki is
A)the certifier.
B)the drawee.
C)the drawer.
D)the payee.
Q2) Refer to Fact Pattern 25-1.Capital Bank
A)is liable to Fix-It for the amount of the check.
B)must stop payment if Capital has a reasonable time to act.
C)need not stop payment unless Echo had a valid reason to act.
D)need not follow Echo's order unless the check was certified.
Q3) A point-of-sale system is a type of electronic fund transfer system.
A)True B)False
Q4) The rights and duties of a bank and its customer are contractual.
A)True B)False
Q5) A forged indorsement does NOT transfer title.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 26: Agency
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72413
Sample Questions
Q1) Employees who deal with third parties are agents of their employers.
A)True
B)False
Q2) The relationship between a principal and an independent contractor always involves an agency relationship.
A)True
B)False
Q3) An independent contractor is an employee.
A)True
B)False
Q4) Geoff serves in a representative capacity for Huck.To accomplish the objectives of this relationship,Geoff's authority can be implied
A)by contradiction.
B)by custom.
C)by lack of reason.
D)under no circumstances.
Q5) A principal owes an agent a duty of compensation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: Employment and Immigration Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72414
Sample Questions
Q1) Superior Sign Company is subject to the Fair Labor Standards Act (FLSA).The FLSA is not concerned with
A)child labor.
B)employees' privacy rights.
C)maximum hours.
D)minimum wages.
Q2) A promise that an employer makes in an employee handbook to employees regarding discharge policy will NOT be considered part of an implied contract.
A)True
B)False
Q3) Healthy Harvest Company runs a candy and fruit processing and packaging plant.Most of Healthy Harvest's business is done during holiday seasons,especially between Halloween and New Year's Day,and in the spring.The company hires a large temporary workforce during its busiest times.Can Healthy Harvest hire noncitizens for its temporary,seasonal work? If so,what procedures must the employer follow to do this hiring? If not,how can Healthy Harvest be assured that it is hiring only citizens?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 28: Discrimination and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72415
Sample Questions
Q1) For twenty years,Ozzie works for Players Paradise,a destination for vacationers from across the United States,maintaining golf carts.After a steady stream of positive job evaluations and merit pay raises,Ozzie is promoted to the position of supervisor of golf-cart maintenance at three of Players's courses.Five years later,a new employee,Quentin,is hired to oversee operations at all ten of Players's courses.Quentin demotes Ozzie,who is now over the age of forty,to running only one of the three cart facilities,and freezes his salary.Quentin demotes five other employees over the age of forty and places one of Ozzie's former facilities under the supervision of Richie,who is twenty-three.Ozzie overhears Richie say,"We're going to have to do away with these old,senile men." Less than a year later,Quentin reconsolidates the three cart facilities' operations under Richie's charge.Ozzie quits and files a suit against Players for employment discrimination. Should he prevail? Explain.
Q2) Svetlana,a fifty-five-year-old member of a racial minority with a disability,believes that she is a victim of employment discrimination.Potentially the most widespread form of discrimination is based on A)age.
B)disability.
C)gender. D)race.
To view all questions and flashcards with answers, click on the resource link above.
Page 30
Chapter 29: Sole Proprietorships,partnerships, Limited
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72416
Sample Questions
Q1) Each partner in a partnership has the right to full and complete information concerning the conduct of all aspects of partnership business.
A)True
B)False
Q2) Owen plans to open Owen's Pets Store,a pet sales and pet supplies outlet,and to hire Quimby and Ruth.Owen will invest only his own money.He does not ex?pect to make any profit for at least two years and to make almost no profit for the first three years,but he hopes to expand eventually.Which form of business organization would be most appropriate? What are the chief characteristics,advantages,and disadvantages of this form of busi?ness organization? If Owen wants to obtain additional capital to expand the business,but does not want to lose control of the firm,what is his best option?
Q3) Mead,Nero,and Olen do business as Pipe & Plumbing Services.After Mead's relationship to the firm ends,Nero and Olen agree to discontinue the business.This is A)dissociation.
B)dissolution.
C)gross negligence.
D)simple misconduct.
To view all questions and flashcards with answers, click on the resource link above.
Page 31
Chapter 30: Formation and Termination of a Corporation
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72417
Sample Questions
Q1) Any person who buys preferred stock has priority over a holder of common stock to payment on the corporation's dissolution.
A)True
B)False
Q2) Selecting the state in which to incorporate is an important step in the incorporation procedure.
A)True
B)False
Q3) A state constitution may resolve a conflict among documents involving a corporation.
A)True
B)False
Q4) Realty Credit Company and Second Mortgage Corporation plan to con?solidate.Most likely,the articles of consolidation will be filed with
A)the county recording office.
B)the Securities and Exchange Commission.
C)the state's secretary of state.
D)the U.S.Department of Justice.
To view all questions and flashcards with answers, click on the resource link above. Page 32
Chapter 31: Management and Ownership of a Corporation
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72418
Sample Questions
Q1) Denise,Ervin,and Flem occupy the positions of directors on the board of Gallery Corporation.As directors,they may NOT
A)authorize major corporate policy decisions.
B)decide to issue stock and bonds,and declare dividends.
C)select and remove corporate officers.
D)subordinate the corporation's welfare to their personal interests.
Q2) Some states permit a corporate board to have fewer than three directors. A)True B)False
Q3) Because stock is intangible personal property,a stockholder's ownership of the stock A)exists independently of the stock certificate itself.
B)cannot exist without a tangible stock certificate.
C)cannot exist without the original stock certificate.
D)cannot be transferred to another person.
Q4) A director usually serves on a corporation's board for a life term. A)True B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 32: Secured Transactions
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72419
Sample Questions
Q1) The person who owes the payment of a secured obligation is the secured party.
A)True
B)False
Q2) Perfection refers to the quality of the collateral that secures a creditor's interest in a debtor's debt.
A)True
B)False
Q3) The office in which a financing statement should be filed depends on the creditor's location.
A)True
B)False
Q4) The "first-in-time" rule means that an unperfected security interest takes priority over a perfected security interest if the unperfected security interest was attached first. A)True
B)False
Q5) A buyer in the ordinary course of business has priority over any security interest created by the seller.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 33: Creditors Rights and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72420
Sample Questions
Q1) Refer to Fact Pattern 33-3.Other property Mary may own that may be ex?empt from satisfaction of judgment debts includes
A)any property that Mary wishes to exempt.
B)investments that Mary has made in her family's businesses.
C)recreational vehicles that Mary uses on weekends.
D)tools that Mary uses in her trade.
Q2) Donald's debt to Everett is past due.Everett brings a legal action against Donald to collect the debt.To ensure that a judgment in Everett's favor will be collectible,Everett asks the court to order the seizure of Donald's property.This is a request for
A)a guaranty (or suretyship) contract.
B)an order that would violate most state laws.
C)a writ of attachment.
D)a writ of execution.
Q3) Certain types of property are exempt from writs of execution or attachment.
A)True
B)False
Q4) A guarantor is secondarily liable on an obliga?tion.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Bankruptcy
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72421
Sample Questions
Q1) Zeke files a petition for bankruptcy under Chapter 13.Zeke's Chapter 13 plan must provide for
A)the turnover of his future income to the trustee.
B)his attendance at a credit-counseling briefing.
C)adequate means for the petition's execution. d a preference for one creditor over another.
Q2) Once a discharge is granted,it may not be revoked,even if,for example,a debtor concealed property to defraud a creditor.
A)True
B)False
Q3) Kofi files a petition for bankruptcy.Kofi must include with the petition
A)a plan to turn over his future income to the trustee.
B)a certificate proving attendance at a credit-counseling briefing.
C)a provision of adequate means for the petition's execution. d a statement of preference for one creditor over another.
Q4) One goal of bankruptcy law is to encourage the continued use of credit.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 36
Chapter 35: Insurance
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72422
Sample Questions
Q1) Andy obtains an insurance policy that protects him against some risks of loss to the contents of his residence.This is
A)homeowners' insurance.
B)title insurance.
C)casualty insurance.
D)liability insurance.
Q2) Simple Simon,Inc.,a software maker,wants to in?sure itself against in?juries to employees sustained during the course of their em?ployment.Simple Simon should obtain
A)casualty insurance.
B)employer's liability insurance.
C)fidelity or guaranty insurance.
D)malpractice insurance.
Q3) Dhani is the beneficiary of a life insurance policy on Elmo's life obtained from Famed Insurance Company.The insured under this policy is A)Dhani.
B)Elmo.
C)Famed.
D)the agent or broker through whom the policy was obtained.
To view all questions and flashcards with answers, click on the resource link above.
Page 37
Chapter 36: Morgages and Foreclosures
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72423
Sample Questions
Q1) Sara has a fixed-rate mortgage.The index rate for her mortgage
A)is a government-determined rate.
B)can only be adjusted upward.
C)can only be adjusted downward.
D)cannot be adjusted.
Q2) Jason wants to apply for the simplest mortgage loan.He should apply for a(n)
A)fixed-rate mortgage.
B)adjustable-rate mortgage.
C)interest-only mortgage.
D)balloon mortgage.
Q3) Lenders may advertise a loan as a fixed-rate loan even if its rate or payment amounts will change.
A)True
B)False
Q4) Albert wants to build a new house,but he needs to borrow money to do so.Albert should obtain
A)a balloon mortgage.
B)an interest-only mortgage.
C)a subprime mortgage.
D)a construction loan.
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 37: Personal Property and Bailments
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72424
Sample Questions
Q1) A gift must be supported by legally sufficient consideration.
A)True
B)False
Q2) In a bailment,possession of the property is transferred to the bailee.
A)True
B)False
Q3) A bailment must be in writing to be valid.
A)True
B)False
Q4) A copyright is tangible personal property.
A)True
B)False
Q5) GR8 Vision,Inc.,hires Haul-Way Company to trans?port fifty large-screen HDTVs from GR8's warehouse in San Diego to an Ideal Electronics retail store in Phoenix.The bailee is A)GR8 Vision.
B)Haul-Way.
C)Ideal Electronics.
D)no one.
To view all questions and flashcards with answers, click on the resource link above. Page 39
Chapter 38: Real Property
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72425
Sample Questions
Q1) Investment Properties Corporation conveys an office building to Bob with a deed that makes the greatest number of warranties and provides the most extensive protection against defects of title.This deed is
A)a grant deed.
B)a quitclaim deed.
C)a sheriff's deed.
D)a warranty deed.
Q2) The rights that accompany a fee simple absolute include the right to use the land for whatever purpose the owner sees fit.
A)True
B)False
Q3) Refer to Fact Pattern 38-1.Nika deeds some of her land to Polly.The deed states,"To Polly,for life,then to Quay." Nika has given Polly
A)a fee simple absolute.
B)a license.
C)a life estate.
D)an easement.
To view all questions and flashcards with answers, click on the resource link above.
Page 40
Chapter 39: Landlord and Tenant
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72426
Sample Questions
Q1) Under the covenant of quiet enjoyment,a landlord promises that a ten?ant will not be disturbed in the possession of the premises.
A)True B)False
Q2) A constructive eviction occurs when the tenant wrongfully performs or fails to perform any of the undertakings the lease requires.
A)True B)False
Q3) Winifred leases an apartment from Lakeside Apartments.When the lease ends,Winifred refuses to leave the apartment and stops paying rent.Lakeside Apartments can collect damages
A)based on the fair market rental value of the apartment.
B)up to half the rental value of the apartment.
C)up to twice the rental value of the apartment.
D)up to one-third the rental value of the apartment.
Q4) When a landlord sells leased premises to a third party,any existing leases terminate automatically.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 41
Chapter 40: Wills and Trusts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72427
Sample Questions
Q1) Undue influence can occur when a named beneficiary is in a position to influence the making of a will.
A)True
B)False
Q2) Clayton dies without a will.The distribution of Clayton's property,including his farm near Lincoln,Nebraska,is prescribed by
A)a court-appointed executor.
B)federal probate statutes.
C)state intestacy laws.
D)the degree of consanguinity between Clayton and his next of kin.
Q3) Jill handwrites what she intends to be her will on a blank sheet of paper in ink.If Jill has capacity,this "will" is
A)invalid.
B)valid if Jill signs it.
C)valid if Jill signs it and has at least three witnesses sign it.
D)valid if Jill signs it,has at least three witnesses sign it,and files it in the appropriate state or county office.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 41: Administrative Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72428
Sample Questions
Q1) National Ladder Company is subject to regulations issued by the Occupational Safety and Health Administration (OSHA).Like other federal administrative agencies,the OSHA was created by
A)Congress,through enabling legislation.
B)the Federal Trade Commission,through the rulemaking process.
C)the president,through an executive order.
D)the U.S.Department of Labor,through a final order.
Q2) The Securities and Exchange Commission decides to create a new rule relating to the dissemination of material nonpublic information through corporate Web sites.The first step is
A)compile the rule with others in the Code of Federal Regulations.
B)conduct an on-site inspection.
C)publish a notice of the proposed rulemaking.
D)solicit public comment.
Q3) The House of Representatives alone can create a new federal administrative agency.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
43
Chapter 42: Antitrust Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72429
Sample Questions
Q1) Congress enacts a statute to outlaw a specific type of anticompetitive business agreement.Like other laws that regulate economic competition,this law is referred to as
A)a federal trade commission act.
B)an antitrust law.
C)an interstate commerce act.
D)a suppressive restraint on trade.
Q2) Cooperative research by small-business firms is exempt from antitrust law.
A)True
B)False
Q3) The Sherman Act,the Clayton Act and the Federal Trade Commission Act are all examples of legislation designed to curb anticompetitive business practices.
A)True
B)False
Q4) The basic purpose of antitrust law is to regulate economic competition.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 44
Chapter 43: International Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72430
Sample Questions
Q1) U.S.laws that prohibit discrimination in employment apply to U.S.em?ployees working for U.S.firms located abroad.
A)True
B)False
Q2) Call Center Corporation,a U.S.firm,owns property in India.The government of India seizes the property for a proper public purpose and pays Call Center just compensation.This is
A)confiscation.
B)defalcation.
C)dumping.
D)expropriation.
Q3) Under the principle of comity,one nation may defer and give effect to the laws and judicial decrees of another country.
A)True
B)False
Q4) Confiscation occurs when a government seizes private property for an illegal purpose or without just compensation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 45