Business Law
Solved Exam Questions
Course Introduction
Business Law provides a comprehensive introduction to the legal principles and frameworks that govern commercial activities. The course covers foundational topics such as contract law, agency, sales, negotiable instruments, business organizations, and the regulatory environment affecting businesses. Students will explore how laws impact business decision-making, the rights and responsibilities of businesses and individuals, and the practical application of legal concepts in real-world scenarios. Emphasis is placed on understanding legal risks, ethical considerations, and the mechanisms for dispute resolution within the business context.
Recommended Textbook
Business Law 8th Edition by Henry R. Cheeseman
Available Study Resources on Quizplus
54 Chapters
4442 Verified Questions
4442 Flashcards
Source URL: https://quizplus.com/study-set/589
Page 2
Chapter 1: Legal Heritage and the Digital Age
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11026
Sample Questions
Q1) What is the function of the judicial branch of the federal government?
A)It has the power to interpret and determine the validity of the law.
B)It has the power to enact the law.
C)It has the power to enforce the law.
D)It has the power to act as a liaison between legislative and the executive branches.
Answer: A
Q2) Imposing a ban on public smoking can serve as an example of a law that adheres to the ________ School of jurisprudence.
A)Command
B)Sociological
C)Law and Economics
D)Analytical
Answer: B
Q3) Within a state, the state constitution precedes the U.S.Constitution.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 3
Chapter 2: Courts and Jurisdiction
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11027
Sample Questions
Q1) Where a long-arm statute is present, a defendant need not have minimum contact with a state for that state's courts to have jurisdiction over the defendant.
A)True
B)False
Answer: False
Q2) Bill is trying to sell his house in Oklahoma City to George who lives in Arkansas.They have a dispute over the terms of the contract and Bill decides to sue George.Which of the following statements is true in this situation?
A)The Arkansas state court will hear this case as it has in personam jurisdiction over George.
B)The Arkansas state court has in rem jurisdiction to hear this case.
C)The Oklahoma state court has in rem jurisdiction to hear this case.
D)The Oklahoma state court does not have jurisdiction to hear this case as the defendant is from another state.
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
4
Chapter 3: Judicial,Alternative,and E-Dispute Resolution
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11028
Sample Questions
Q1) The state of Idaho has a two-year statute of limitations for personal injury actions.Graham was injured by Alice in a car accident on January 1, 2011.If Graham wants to bring a lawsuit against Alice on January 15, 2013, which of the following is most likely to be the outcome?
A)Graham is allowed to sue Alice after appealing for an extension of the statue of limitations.
B)Graham is not allowed to sue Alice, having lost his right to sue her.
C)Graham can sue Alice but will not receive damages.
D)Graham can sue Alice but is not entitled to a jury trial.
Answer: B
Q2) ________ is the process whereby the judge and attorneys ask prospective jurors questions to determine whether they would be biased in their decisions.
A)Consolidation
B)Trial of fact
C)Voir dire
D)Intervention
Answer: C
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Constitutional Law for Business and
E-Commerce
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11029
Sample Questions
Q1) Strict scrutiny test is applied to classifications not involving a suspect or protected class.
A)True
B)False
Q2) Speech that is offensive to many members of the society, but is not obscene or violent, is held "unprotected" by the U.S.Supreme Court.
A)True
B)False
Q3) Which of the following statements is true about the freedom of speech guaranteed by the Bill of Rights?
A)The Freedom of Speech clause was added to the Constitution in the third amendment.
B)The Freedom of Speech clause protects speech only, not conduct.
C)There is no provision for fully protected speech in the Constitution.
D)Burning the American flag in protest to a federal government military action is in violation of the Freedom of Speech clause.
Q4) Distinguish between limited protected speech and unprotected speech, as divided by the U.S.Supreme Court.
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Intentional Torts and Negligence
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11030
Sample Questions
Q1) Reasonable person standard is a test used to determine whether a tort is intentional or unintentional.
A)True
B)False
Q2) The threat of immediate harm or offensive contact is termed as ________.
A)battery
B)assault
C)disparagement
D)libel
Q3) Which of the following is an intentional tort?
A)breach of duty of care
B)defect in product manufacture
C)disparagement
D)negligence
Q4) Under negligence, a person is liable only for ________ events.
A)intervening
B)foreseeable
C)superseding
D)overruling
Q5) How is assault different from battery?
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Product and Strict Liability
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11031
Sample Questions
Q1) ________ refers to all manufacturers, distributors, wholesalers, retailers, lessors, and subcomponent manufacturers involved in a transaction.
A)Demand chain
B)Chain of command
C)Chain of distribution
D)Value chain
Q2) What is the purpose of the crashworthiness doctrine?
Q3) ________ refers to monetary damages that are awarded to punish a defendant who either intentionally or recklessly injured the plaintiff.
A)Reliance damages
B)Consequential damages
C)Punitive damages
D)Nominal damages
Q4) When the containers of a product are not tamperproof, it is termed as a ________.
A)defect in manufacture
B)defect in design
C)defect in packaging
D)failure to warn
To view all questions and flashcards with answers, click on the resource link above.
8
Chapter 7: Intellectual Property and Cyber Piracy
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11032
Sample Questions
Q1) In the United States, the first person to invent an item or a process is given patent protection over a later inventor who was first to file a patent application.
A)True
B)False
Q2) A competitor can lawfully discover a trade secret by performing reverse engineering.
A)True
B)False
Q3) The fair use doctrine for copyrights does not allow reproduction of a work in a legislative or judicial proceeding.
A)True
B)False
Q4) Which of the following is suitable for copyrighting?
A)buildings
B)musical compositions
C)business methods
D)product logos
Q5) Give an account of the Economic Espionage Act and its importance in combating cyber piracy.
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Criminal Law and Cyber Crimes
Available Study Resources on Quizplus for this Chatper
86 Verified Questions
86 Flashcards
Source URL: https://quizplus.com/quiz/11033
Sample Questions
Q1) Warrantless searches are permitted where it is likely that evidence will be destroyed.
A)True
B)False
Q2) Under which federal law would Richard be tried for his mob activities, if he were caught?
A)Identity Theft and Assumption Deterrence Act
B)Racketeer Influenced and Corrupt Organizations Act
C)Counterfeit Access Device and Computer Fraud and Abuse Act
D)Information Infrastructure Protection Act
Q3) The government can forfeit any property involved in a money laundering offense.
A)True
B)False
Q4) Why do governments and defendants enter into plea bargains?
Q5) Which of the following crimes is an example of a white-collar crime?
A)larceny
B)arson
C)forgery
D)battery
Q6) Discuss "receiving stolen property" as a crime.
Page 10
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Nature of Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
78 Verified Questions
78 Flashcards
Source URL: https://quizplus.com/quiz/11034
Sample Questions
Q1) A letter of credit is considered an informal contract as it does not have a special method of creation.
A)True
B)False
Q2) Which of the following is an informal contract?
A)check
B)bank draft
C)lease
D)recognizance
Q3) Yvonne finds a carpenter to do some repairs for her house and tells him that if he finishes the job within Saturday, she would pay him $1, 000.This offer creates a(n)________ contract.
A)executed
B)executory
C)unilateral
D)bilateral
Q4) A unilateral contract can be accepted without the performance of an act by the offeree.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Agreement
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11035
Sample Questions
Q1) Unless otherwise expressly stated, an auction is considered an auction with reserve.
A)True
B)False
Q2) If an offeree dispatches a rejection before an acceptance, then the rejection will not be applicable.
A)True
B)False
Q3) Identification of the subject matter and quantity would be an implied term.
A)True
B)False
Q4) In an auction with reserve, the seller retains the right to refuse the highest bidder.
A)True
B)False
Q5) A contract requires an offer and an acceptance.
A)True
B)False
Q6) How can an offeror revoke an offer?
Q7) Explain the importance of "time of acceptance" of contracts.
Page 12
To view all questions and flashcards with answers, click on the resource link above.
Chapter 11: Consideration and Promissory Estoppel
Available Study Resources on Quizplus for this Chatper
75 Verified Questions
75 Flashcards
Source URL: https://quizplus.com/quiz/11036
Sample Questions
Q1) Explain the preexisting duty principle in private sector contracts.
Q2) A promise lacks consideration if a person promises to perform an act or do something he is already under an obligation to do.This is called a(n)________.
A)illegal consideration
B)preexisting duty
C)gift promise
D)illusory promise
Q3) A contract in which a seller agrees to sell all of its production to a single buyer is known as a(n)________.
A)requirements contract
B)output contract
C)best-efforts contract
D)option contract
Q4) An illusory promise is an example of a contract that lacks consideration.
A)True
B)False
Q5) For a gift promise to be enforceable, the promisee must offer a consideration.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/11037
Sample Questions
Q1) At common law, parties to an illegal contract were considered at equal fault.
A)True
B)False
Q2) Which of the following is true for a minor under the infancy doctrine?
A)A minor is bound to the adult's decisions in a contract between them.
B)A minor can disaffirm contracts he or she has entered into with adults.
C)A minor cannot enter into a legal contract with another minor.
D)A minor cannot choose to enforce a contract at his or her whim.
Q3) Which of the following is an example of a contract contrary to statutes by its very existence?
A)a usurious loan contract
B)a contract between two minors
C)a contract where one party is insane but not adjudged insane
D)a contract of adhesion
Q4) What are gambling statutes?
Q5) Which of the following would constitute legal insanity?
A)weakness of intellect
B)emotional problems
C)slight delusions
D)mental retardation
Page 14
To view all questions and flashcards with answers, click on the resource link above.
Chapter 13: Genuineness of Assent and Undue Influence
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11038
Sample Questions
Q1) Heather chooses to buy a scarf at Macy's and reads the price on the tag as $50.She uses her credit card to pay for the scarf, but post-purchase, she notices that the price tag actually says $500.This is an instance of a(n)________.
A)bilateral mistake
B)mutual mistake of value
C)innocent misrepresentation
D)unilateral mistake
Q2) If a seller does not disclose legal disputes involving the property being sold, he or she is liable for silence as misrepresentation.
A)True
B)False
Q3) Duress is a situation in which one party threatens to do a wrongful act unless the other party enters into a contract.
A)True
B)False
Q4) Duress is said to have occurred only where a threat involved a physical harm.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
15
Chapter 14: Statute of Frauds and Equitable Exceptions
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11039
Sample Questions
Q1) Placing several documents in the same envelope indicates implied integration.
A)True
B)False
Q2) A person's nickname or initials that indicate his or her intent are not considered binding signatures.
A)True
B)False
Q3) ________ stipulates that the contract is a complete integration and the exclusive expression of the parties' agreement.
A)Promissory estoppel
B)Merger clause
C)Main purpose exception
D)Leading object exception
Q4) While interpreting contract words and terms, specific terms are presumed to qualify general terms.
A)True
B)False
Q5) The signature of the person who is enforcing the contract is necessary.
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 and Discharge
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11040
Sample Questions
Q1) A legal right that arises out of a breach of contract may be assigned.
A)True
B)False
Q2) Howard is injured by Penny in a car accident, caused due to Penny's negligence.Which of the following statements holds true for Howard's right to assign?
A)Howard cannot assign the recovery of punitive damages from Penny.
B)Howard can only assign the recovery of his medical expenses from Penny.
C)Howard's right to sue Penny cannot be assigned.
D)Howard can only assign his right to take the case to the appellate court.
Q3) Condition subsequent exists when the parties to a contract must render performance simultaneously.
A)True
B)False
Q4) A reasonable person test is a subjective test that applies to contracts involving personal taste and comfort.
A)True
B)False
Q5) Distinguish between conditions and covenants.
Q6) Explain the process of transfer of rights.
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Remedies for Breach of Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11041
Sample Questions
Q1) A nonbreaching party cannot rescind the contract in the event of a material breach.
A)True
B)False
Q2) Which of the following is true of specific performance?
A)Specific performance of personal service contracts is not granted.
B)Specific performance is not awarded if the subject matter of the contract is unique.
C)Works of art, antiques and heirlooms are exempted as subject matter for specific performance.
D)Specific performance is not available to enforce land contracts.
Q3) If an employer breaches an employment contract, the employee owes a duty to mitigate damages by trying to find substitute employment.
A)True
B)False
Q4) How are liquidated damages awarded?
Q5) Liquidated damages are awarded only if actual damages are precisely determined. A)True
B)False
Q6) How are compensatory damages awarded for construction contracts?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: E-Commerce and Digital Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11042
Sample Questions
Q1) Which of the following is an example of Web-browsing software?
A)Microsoft Internet Explorer
B)Adobe Acrobat Reader
C)Outlook Express
D)BitTorrent
Q2) Briefly explain the working of an e-license.
Q3) Which of the following can access Henry's stored electronic communications without violating the ECPA?
A)Henry's colleague at work, who is working on the same project as Henry and needs the information
B)Henry's wife, who suspects him of cheating on her
C)Henry's boss, who suspects him of leaking confidential information
D)Henry's personal finance advisor, who wants to see if he has sufficient funds to make an investment
Q4) The UCITA does not become law until a state's legislature enacts it as a state statute.
A)True
B)False
Q5) What is cybersquatting? Can trademark owners recover domain names registered in bad faith?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Formation of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/11043
Sample Questions
Q1) According to the UCC, a seller or buyer who reserves the right to fix a price must do so in good faith.
A)True
B)False
Q2) The formation of sales and lease contracts requires consideration.
A)True
B)False
Q3) Article 2 of the UCC defines a merchant as a person who deals in the goods of the kind involved in the transaction.
A)True
B)False
Q4) The ________ requires all contracts for the sale of goods costing $500 or more and lease contracts involving payments of $1, 000 or more to be in writing.
A)parol evidence rule
B)open price term
C)firm offer rule
D)Statute of Frauds
Q5) What are the methods and manners of acceptance as defined by the UCC?
Q6) How does the UCC define the term 'merchant'?
Page 20
To view all questions and flashcards with answers, click on the resource link above.
Chapter 19: Title to Goods and Risk of Loss
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11044
Sample Questions
Q1) In a sale on approval, there is no sale unless and until the buyer accepts the goods.
A)True
B)False
Q2) Which of the following would contain the term "no-arrival, no-sale" in their contract?
A)shipment contract
B)destination contract
C)a contract to sell real estate
D)consignment contract
Q3) A seller has voidable title interest to goods if he or she obtained the goods through fraud.
A)True
B)False
Q4) Which of the following parties to a shipping contract bears the risk of loss of goods during transport?
A)the seller
B)the carrier
C)the buyer
D)the seller and the carrier
To view all questions and flashcards with answers, click on the resource link above.
21
Chapter 20: Remedies for Breach of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11045
Sample Questions
Q1) ________ is an action a party to a sales or lease contract is required by law to carry out.
A)Obligation
B)Breach
C)Capture
D)Revocation
Q2) Which of the following is true for a perfect tender rule delivery?
A)The seller can reject delivery of certain parts of the goods.
B)The buyer can only reject parts of the goods and not the whole shipment.
C)The buyer can seek remedies for accepting nonconforming goods.
D)The seller can seek remedies for noncorforming goods that were accepted by the buyer.
Q3) Under the perfect render rule, the buyer can reject a whole shipment of nonconforming goods.
A)True
B)False
Q4) How does the UCC deal with issues that are not present in express terms in a contract?
Page 22
Q5) What is the doctrine of unconscionability under the UCC?
Q6) When does a buyer have the right to cancel a sales or lease contract?
To view all questions and flashcards with answers, click on the resource link above.
Page 23
Chapter 21: Warranties
Available Study Resources on Quizplus for this Chatper
83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/11046
Sample Questions
Q1) What was the doctrine of caveat emptor in sales or lease contracts?
A)It was law balanced risk of loss between seller and buyer.
B)It was a law that stated the risk of loss was completely on the buyer.
C)It was a law that gave more protection to the buyer in a sales contract.
D)It was a law that stipulated the issue of warrants in sale or lease transactions.
Q2) A warranty in which the seller warrants that he or she has valid title to the goods he or she is selling and that the transfer of title is rightful is known as ________.
A)warranty of no security interests
B)warranty of no interference
C)warranty of good title
D)warranty against infringements
Q3) A ________ is a warranty in which sellers of goods warrant that the goods they sell are delivered free from any third-party security interests, liens, or encumbrances that are unknown to the buyer.
A)warranty of good title
B)warranty of quiet possession
C)warranty against infringements
D)warranty of no security interests
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 22: Creation of Negotiable Instruments
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11047
Sample Questions
Q1) Which of the following is a fundamental requirement for a negotiable instrument?
A)that it must be supplemented with interest upon payment
B)that it must be secured with collateral
C)that it must contain a drawer, drawee, and a payee
D)that it must be in a permanent state
Q2) Which of the following is true about a trade acceptance?
A)The buyer is the payee.
B)The seller is both the drawer and payee.
C)The draft is countersigned by the drawee's bank.
D)The draft is only as good as the drawer's creditworthiness.
Q3) The ________ requirement of negotiable instruments says that negotiable instruments must be able to be easily transported between areas.
A)portability
B)permanence
C)signature
D)transparency
Q4) The financial institution upon which the check is written is the payee of a check.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 25
Chapter 23: Holder in Due Course and Transferability
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/11048
Sample Questions
Q1) If the transferor is a holder in due course then the transferee becomes a holder in due course.
A)True
B)False
Q2) An instrument that is not payable to a specific payee or indorsee is called an order paper.
A)True
B)False
Q3) An instrument that is payable to a specific payee or indorsed to a specific indorsee is called a bearer paper.
A)True
B)False
Q4) An indorsement that does not specify a particular indorsee is known as a(n)________.
A)blank indorsement
B)special indorsement
C)qualified indorsement
D)restrictive indorsement
Q5) Give an account of how an indorsement is made.
Q6) What are qualified indorsements?
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 24: Liability, Defenses, and Discharge
Available Study Resources on Quizplus for this Chatper
83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/11049
Sample Questions
Q1) An accommodation party who signs an instrument guaranteeing payment is secondarily liable on the instrument.
A)True
B)False
Q2) In which of the following conditions is a drawee primarily liable to a draft?
A)when the instrument is issued
B)when the instrument is dishonored
C)when the instrument s presented for payment
D)when the drawee is an acceptor to the instrument
Q3) In which of the following accommodations is an accommodation party primarily liable?
A)in a guarantee of payment
B)in a guarantee of collection
C)in a guarantee of demand
D)in a guarantee of promise
Q4) Adjudicated mental incompetence is a universal defense that can be raised against holders and HDCs.
A)True
B)False
Q5) What is the defense of fraud in the inducement?
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 25: Banks, E-Money, and Financial Reform
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11050
Sample Questions
Q1) The ________ is a federal statute, enacted by the Congress in 2010, that reorganizes federal government supervision of the banking system, regulates previous unregulated financial products and institutions, and adds a new consumer protection agency to protect consumers from abusive lending and banking practices.
A)Dodd-Frank Wall Street Reform and Consumer Protection Act
B)Depository Institutions Deregulation and Monetary Control Act
C)Financial Institutions Reform, Recovery, and Enforcement Act
D)Riegle-Neal Interstate Banking and Branching Efficiency Act
Q2) Which of the following is an accurate description of wrongful dishonor of a check?
A)A bank refuses to honor a properly payable check when there are sufficient funds in the drawer's account.
B)A bank refuses to honor a certified check when it is presented for payment more than a year from its date of issue.
C)A bank refuses to honor a check which has been outstanding for only a few days more than six months from the date of issue.
D)A bank refuses to honor an ordinary check when it believes that the payee has altered the amount on the check.
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 26: Credit,Mortgages,and Debtor's Rights
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/11051
Sample Questions
Q1) In a deed of trust, the creditor is the beneficiary.
A)True
B)False
Q2) A power stated in a mortgage or deed that permits foreclosure without court proceedings and sale of the property through an auction is known as ________.
A)reconveyance
B)foreclosure sale
C)power of sale
D)garnishment
Q3) A written reconveyance transfers the title of a real property from the trustee.
A)True
B)False
Q4) A court action is necessary for a power of sale foreclosure to be considered valid.
A)True
B)False
Q5) A deed of trust is a two-party instrument.
A)True
B)False
Q6) What is the antideficiency statute?
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 27: Secured Transactions and E-Filing
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11052
Sample Questions
Q1) In a secured transaction, the debtor is the secured party.
A)True
B)False
Q2) The term ________ refers to a secured creditor's repossession of collateral upon a debtor's default and selling, leasing, or otherwise disposing of it in a commercially reasonable manner.
A)repossession
B)disposal of the goods
C)disposition of collateral
D)retention of collateral
Q3) To be valid, a security agreement must set forth the creditor's rights upon the debtor's default.
A)True
B)False
Q4) An artisan's lien is a statutory lien given to workers on personal property to which they furnish services or materials in the ordinary course of business.
A)True
B)False
Q5) Outline the priority of claims.
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 28: Bankruptcy and Reorganization
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/11053
Sample Questions
Q1) What is an executory contract?
A)a contract that cannot be discharged under Chapter 13
B)a contract that the debtor is obliged to perform despite filing for bankruptcy
C)an agreement between several creditors and a single debtor, dividing the debtor's property
D)a lease that has not been fully performed
Q2) Unpaid debts that the debtor incurred prior to the date of the order for relief are discharged under Chapter 7.
A)True
B)False
Q3) Which of the following is true of the meeting of the creditors?
A)A meeting of the creditors is called before the court grants an order for relief.
B)The bankruptcy judge cannot attend the meeting of the creditors.
C)In the first meeting of the creditors, a debtor is questioned by a jury constituted for the purpose.
D)Questions regarding the debtor's possible concealment of assets are not permitted during the meeting of the creditors.
Q4) Explain in brief the constitution of a bankruptcy estate.
To view all questions and flashcards with answers, click on the resource link above. Page 31
Chapter 29: Agency Formation and Termination
Available Study Resources on Quizplus for this Chatper
87 Verified Questions
87 Flashcards
Source URL: https://quizplus.com/quiz/11054
Sample Questions
Q1) An agency that occurs when a principal and an agent categorically agree to enter into an agency agreement with each other is known as a(n)________.
A)agency by ratification
B)implied agency
C)apparent agency
D)express agency
Q2) Who is an independent contractor?
Q3) The ________ is principal's duty to cover the agent for any losses the agent suffers because of the principal's conduct.
A)duty to cooperate
B)duty to indemnify
C)duty to compensate
D)duty to reimburse
Q4) For an implied agency to function, implied authority cannot conflict with express authority.
A)True
B)False
Q5) List the circumstances that can lead to termination by impossibility of performance.
To view all questions and flashcards with answers, click on the resource link above. Page 32
Chapter 30: Liability of Principals, Agents, and Independent Contractors
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11055
Sample Questions
Q1) Which of the following is true of an undisclosed agency?
A)The third party has no knowledge of the agency.
B)The third party knows the agent, not the principal.
C)All transactions with the third party are made by the principal without involving the agent.
D)Transactions under such an agency are considered unlawful.
Q2) A fully disclosed agency results if a third party entering into a contract knows the actual identity of the principal.
A)True
B)False
Q3) A ________ is a deceit in which an agent makes an untrue statement that he or she knows is not true.
A)partially disclosed agency
B)misrepresentation
C)respondeat superior
D)dual-purpose mission
Q4) A third-party offer to an agent must be conveyed to the principal.
A)True
B)False
Q5) Explain in brief the liability for an independent contractor's torts.
To view all questions and flashcards with answers, click on the resource link above. Page 33
Chapter 31: Employment, Worker Protection, and Immigration Law
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11056
Sample Questions
Q1) Under common law, employees who were injured on the job could not sue their employers for negligence.
A)True
B)False
Q2) Which of the following is true of child labor regulations adopted by the Department of Labor?
A)Children between the ages of 14 and 15 may work unlimited hours in nonhazardous jobs.
B)Children between the ages of 16 and 17 may work limited hours in hazardous jobs.
C)Children under the age of 14 may work limited hours in nonhazardous jobs.
D)Children employed in agriculture have no time or work restriction.
Q3) Minimum wage laws cannot be enacted by individual cities in the United States.
A)True
B)False
Q4) The general duty standard requires an employer to provide a work environment that does not result in its employees' mental stress.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 32: Labor Law and Collective Bargaining
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/11057
Sample Questions
Q1) The Labor Management Relations Act of 1947 is also known as the ________ Act.
A)Landrum-Griffin
B)Gompers-Lewis
C)Taft-Hartley
D)Wagner
Q2) A ________ is a cessation of work by union members in order to obtain economic benefits or correct an unfair labor practice.
A)collective bargain
B)strike
C)crossover
D)persuasion
Q3) If an employer reasonably anticipates a strike by some of its employees, it may legally arrange a(n)________ to prevent these employees from entering the work premise.
A)strike
B)picketing
C)employer lockout
D)employee lockout
Q4) Outline the act of collective bargaining.
Q5) List and explain strikes that are held to be illegal be federal labor law.
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 33: Equal Opportunity in Employment
Available Study Resources on Quizplus for this Chatper
78 Verified Questions
78 Flashcards
Source URL: https://quizplus.com/quiz/11058
Sample Questions
Q1) The ________ imposes obligations on employers and providers of public transportation, telecommunications, and public accommodations to accommodate physically challenged individuals.
A)ADEA
B)OWBPA
C)ADA
D)FEPA
Q2) The ________ is a federal statute that permits a complainant to file an employment discrimination claim against an employer within 180 days of the most recent paycheck violation.
A)Civil Rights Act of 1968
B)Title II of GINA
C)Civil Rights Act of 1964
D)Lilly Ledbetter Fair Pay Act
Q3) The EEOC will issue a right to sue letter to the complainant even if it does not find a violation upon investigation of the charge.
A)True
B)False
Q4) Distinguish between disparate-treatment and disparate-impact discrimination.
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 34: Small Business, Entrepreneurship, and General Partnerships
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/11059
Sample Questions
Q1) An association of two or more persons to carry on as co-owners of a business for profit is known as a(n)________.
A)limited partnership
B)sole proprietorship
C)corporation
D)general partnership
Q2) General partners are not permitted to sue other partners at law.
A)True
B)False
Q3) Which of the following is true of general partnership?
A)A business should make a profit in order to qualify as a general partnership.
B)The general partners need not be the co-owners of the business.
C)General partnerships can be either oral or implied from the conduct of the parties.
D)Charity organizations and schools are mostly formed from general partnerships.
Q4) The UPA's definition of a general partner includes other limited partnerships.
A)True
B)False
Q5) Explain the taxation levied on a sole proprietorship.
Q6) How are assets distributed after the dissolution of a general partnership?
To view all questions and flashcards with answers, click on the resource link above. Page 37
Chapter 35: Limited Partnerships and Special Partnerships
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11060
Sample Questions
Q1) Partners who erroneously but in good faith believe they have become limited partners can escape liability as general partners by ________.
A)adding their surname to the name of the business establishment
B)filing for a refund of his or her initial investment with interest
C)bringing a lawsuit against all general and limited partners
D)withdrawing from any future equity participation in the enterprise
Q2) Which of the following partners of a limited partnership invest capital but do not participate in management?
A)specific partners
B)limited partners
C)general partners
D)sole proprietors
Q3) A limited partnership is a ________ in the state in which it is organized.
A)sole proprietorship
B)limited liability corporation
C)domestic limited partnership
D)general partnership
Q4) Explain the constitution of partners in a limited partnership.What are their liabilities? Who is permitted to join as a partner to such a partnership?
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 36: Corporate Formation and Financing
Available Study Resources on Quizplus for this Chatper
95 Verified Questions
95 Flashcards
Source URL: https://quizplus.com/quiz/11061
Sample Questions
Q1) A(n)________ is a debt security with a maturity of five years or less.
A)bond
B)debenture
C)indenture
D)note
Q2) Which of the following would be considered an express power of a corporation?
A)opening a bank account
B)issuing notes and bonds
C)purchasing advertisement
D)purchasing insurance
Q3) What is an indenture agreement?
Q4) The RMBCA provides that corporate existence begins when the articles of incorporation are filed.
A)True
B)False
Q5) What are the express powers of a corporation?
Q6) Bylaws of a corporation must be filed with a government official.
A)True
B)False
Q7) What is the conversion right for preferred stocks?
To view all questions and flashcards with answers, click on the resource link above. Page 39
Chapter 37: Corporate Governance and the
Sarbanes-Oxley Act
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/11062
Sample Questions
Q1) A director or corporate officer that does not attend board meetings regularly would be in violation of ________.
A)self-dealing
B)duty of care
C)duty of loyalty
D)duty of obedience
Q2) According to the right of first refusal, a selling shareholder must offer to sell his or her shares to the other parties to the agreement before selling them to anyone else.
A)True
B)False
Q3) The president of a corporation is an example of a corporate officer.
A)True
B)False
Q4) Persons who are shareholders on the record date are entitled to receive the dividend, even if they sell their shares before the payment date.
A)True
B)False
Q5) Explain the term of office for board of directors.
To view all questions and flashcards with answers, click on the resource link above. Page 40
Chapter 38: Corporate Acquisitions and Multinational Corporations
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/11063
Sample Questions
Q1) A merger occurs when one corporation enters into a permanent business partnership with another corporation.
A)True
B)False
Q2) What is a similarity between a branch office and a subsidiary of a multinational corporation?
A)Both are considered as separate legal entities.
B)Both have limited liability shields with the parent company.
C)Both can be setup in a foreign land to run the parent company's business.
D)Both are wholly liable for their torts.
Q3) Antitakeover statutes are model acts and do not become law until a state legislature adopts them.
A)True
B)False
Q4) A proxy contest is one in which incumbent directors are impeached.
A)True
B)False
Q5) Incumbent directors are the former directors of a corporation. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 41
Chapter 39: Limited Liability Companies and Limited Liability Partnerships
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11064
Sample Questions
Q1) An LLC is a(n)________.
A)unincorporated business entity
B)incorporated business entity
C)cooperative entity
D)proprietorship
Q2) Sam Muller and Toby Richardson organize an LLC in the state of Delaware.In the articles of organization, they specify the duration of the LLC as "25 years from the date of filing the articles of organization." Which of the following true in this context?
A)The LLC is invalid, as it does not specify a date of termination.
B)The LLC may be dissolved at will any time after 25 years from the date of filing the articles of organization.
C)Muller and Richardson have organized a valid term LLC.
D)Muller and Richardson have organized an at-will LLC.
Q3) The owner of an LLC is called ________.
A)general partner
B)limited partner
C)proprietor
D)member
Q4) Explain the process which exempts members of an LLC from double taxation.
Page 42
To view all questions and flashcards with answers, click on the resource link above.
Chapter 40: Franchises and Special Forms of Businesses
Available Study Resources on Quizplus for this Chatper
84 Verified Questions
84 Flashcards
Source URL: https://quizplus.com/quiz/11065
Sample Questions
Q1) Explain in brief the concept of joint venture as a business arrangement.
Q2) Which of the following is true of the liabilities of a franchisor and a franchisee?
A)The franchisor is not liable for any tort arising out of the franchise.
B)Both franchisee and franchisor are jointly liable for torts committed by either.
C)Franchisees are only liable on their own contracts.
D)Franchisors are always liable for the torts of the franchisees.
Q3) A franchisor discloses a cautionary statement that reads, "Caution: These figures are only estimates of what we think you may earn.There is no assurance you'll do as well.If you rely upon our figures, you must accept the risk of not doing so well." This is an instance of ________.
A)disclosure of earning projections based on actual data
B)disclosure of earning projections based on hypothetical data
C)non-disclosure of sales or earnings projections
D)fraudulent disclosure by the franchisor
Q4) The FTC does not require the registration of the disclosure document with the FTC prior to its use.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 43
Chapter 41: Investor Protection, E-Securities, and Wall Street Reform
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11066
Sample Questions
Q1) Utilities Ltd.decided to go public by an initial public offering.It sold securities, some of which were bought by James Jefferson.Six months later, Mr.Jefferson sold the Utilities shares he had purchased to Martha Graham and Mark Franco.Two years later, Mr.Jefferson bought back the Utilities shares from Ms.Graham and Mr.Franco and made a profit out of both transactions.Who is the issuer in this scenario?
A)Utilities Ltd.
B)James Jefferson
C)Martha Graham
D)Mark Franco
Q2) A(n)________ is an exemption from registration which states that securities transactions not made by an issuer, an underwriter, or a dealer do not have to be registered with the SEC.
A)intrastate offering exemption
B)private placement exemption
C)regulation A offering
D)nonissuer exemption
Q3) How does Section 16(b)of the Securities Exchange Act of 1934 protect the interests of a corporation? Explain with an example.
Q4) List the securities exempt from registration with the SEC.
To view all questions and flashcards with answers, click on the resource link above. Page 44
Chapter 42: Ethics and Social Responsibility of Business
Available Study Resources on Quizplus for this Chatper
83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/11067
Sample Questions
Q1) ________ is a set of moral principles or values that governs the conduct of an individual or a group.
A)Rationality
B)Evolution
C)Ethics
D)Reason
Q2) Kantian ethics is also referred to as ________ ethics.
A)relativistic
B)utilitarian
C)duty
D)nihilistic
Q3) One of the advantages of utilitarianism is that it is easy to apply in most real-life situations.
A)True
B)False
Q4) The theory of maximizing profits holds that the interests of constituencies other than the business itself are not important in and of themselves.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 45
Chapter 43: Administrative Law and Regulatory Agencies
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11068
Sample Questions
Q1) When Congress enacted the Securities Act of 1933, it created the Securities and Exchange Commission, a(n)________, to administer and enforce those statutes.
A)law enforcement authority
B)short-term commission
C)federal administrative agency
D)intelligence agency
Q2) Substantive administrative laws enforced by administrative agencies are akin to statutes in their legality.
A)True
B)False
Q3) A(n)________ announces a proposed course of action that an agency intends to follow in the future.
A)interpretive rule
B)operational code
C)substantive rule
D)statement of policy
Q4) Explain in brief the types of federal administrative agencies with example.
Q5) Distinguish between substantive rules and interpretive rules.What is a statement of policy?
To view all questions and flashcards with answers, click on the resource link above. Page 46
Chapter 44: Consumer Protection and Product Safety
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11069
Sample Questions
Q1) FDA approval is not mandatory for medical devices to be legally sold in the U.S.
A)True
B)False
Q2) Which of the following is a function that the Consumer Product Safety Commission is empowered to execute?
A)collecting data regarding injuries caused by consumer products
B)regulating the distribution of genetically modified food products
C)recalling drugs that have been found to be harmful from the market
D)accepting petitions from consumers on wrongly labeled food products
Q3) The Health Care Reform Act extends health care coverage to illegal immigrants.
A)True
B)False
Q4) Firearms represent an example of consumer products which do not come under the CPSC rules.
A)True B)False
Q5) Bait and switch is a type of deceptive advertising under Section 5 of the FTC Act. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 47
Chapter 45: Environmental Protection
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11070
Sample Questions
Q1) The ________ Act provides for the creation of a government fund to finance the cleanup of hazardous waste sites.
A)Resource Conservation and Recovery
B)Toxic Substances Control
C)Comprehensive Environmental Response, Compensation, and Liability
D)National Environmental Policy
Q2) How are endangered species protected in the United States? Name three laws that protect wildlife species.
Q3) Which of the following is true of the Clean Air Act?
A)It is the only major state law regulating air pollution in the United States.
B)It fails to include the air pollution caused by fuel and fuel additives in its purview.
C)It is only concerned with stationary sources of air pollution.
D)It requires air pollution controls to be installed on motor vehicles.
Q4) The NEPA and EPA regulations require that an environmental impact statement (EIS)be prepared by the state government.
A)True
B)False
Q5) What are the measures taken to protect wetlands in the United States?
To view all questions and flashcards with answers, click on the resource link above. Page 48
Chapter 46: Antitrust Law and Unfair Trade Practices
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/11071
Sample Questions
Q1) Which of the following businesses and activities enjoys a statutory exemption from antitrust laws?
A)airlines
B)professional baseball
C)agricultural cooperatives
D)all professional sports and games
Q2) A unilateral refusal to deal is a violation of Section 1 of the Sherman Act because there is a concerted action with others.
A)True
B)False
Q3) ________ are a series of laws enacted to specifically limit anticompetitive behavior and monopolistic practices in almost all industries, businesses, and professions operating in the United States.
A)Contract laws
B)Antitrust laws
C)Laissez-faire laws
D)Canon laws
Q4) What is a premerger notification? Explain the process outlined by the Hart-Scott-Rodino Antitrust Improvement Act to execute a merger.
To view all questions and flashcards with answers, click on the resource link above. Page 49
Chapter 47: Personal Property and Bailment
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/11072
Sample Questions
Q1) Personal property that is permanently affixed to land or buildings is referred to as chattel.
A)True
B)False
Q2) If an accession is mistakenly made by an improver and the improvement cannot be removed from the original article, the owner owns title to the improved property without any payment.
A)True
B)False
Q3) What kind of agreement existed between Randy and Carl over the car?
A)bailment for the sole benefit of the bailor
B)bailment for the sole benefit of the bailee
C)mutual benefit bailment
D)bailment at will
Q4) Which of the following is true of mislaid property with regard to the person who finds it?
A)The finder becomes the owner of the property.
B)The finder has the right to share it with the original owner.
C)The finder is not entitled to possess the property.
D)The finder is absolved of any responsibility of the mislaid property.
To view all questions and flashcards with answers, click on the resource link above. Page 50
Chapter 48: Real Property
Available Study Resources on Quizplus for this Chatper
98 Verified Questions
98 Flashcards
Source URL: https://quizplus.com/quiz/11073
Sample Questions
Q1) Plant life that is severed from the land is considered ________.
A)intangible property
B)immovable property
C)real property
D)personal property
Q2) A deceased joint tenant's will is effective over the right to survivorship.
A)True
B)False
Q3) If they filed for divorce in a state that recognizes community property, what would be the separate property owned by Jonas at the end of their marriage?
A)$1 million of real estate and $1.5 million in securities
B)$500, 000 of real estate and $2.5 million in securities
C)$1.5 million of real estate and $3 million in securities
D)$2.5 million of real estate and $2 million securities
Q4) An easement appurtenant cannot be terminated upon change in ownership title of the dominant estate.
A)True
B)False
Q5) What is a life estate?
To view all questions and flashcards with answers, click on the resource link above. Page 51
Chapter 49: Landlord-Tenant Law and Land Use Regulation
Available Study Resources on Quizplus for this Chatper
82 Verified Questions
82 Flashcards
Source URL: https://quizplus.com/quiz/11074
Sample Questions
Q1) Which of the following duties has a landlord breached if he leases a rodent-infested warehouse to a farmer?
A)implied warranty of habitability
B)duty not to commit waste
C)duty to deliver possession
D)duty not to interfere with a tenant's right to quiet enjoyment
Q2) If a person lives in a house by paying rent on a monthly basis, which of the following types of tenancy would that represent?
A)tenancy at will
B)tenancy at sufferance
C)tenancy for years
D)periodic tenancy
Q3) If the landlord recovers from the assignor, the assignor has no course of action to recover from the assignee.
A)True
B)False
Q4) A landlord's right to receive rent is not transferable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 52
Chapter 50: Insurance
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11075
Sample Questions
Q1) The coverage of a standard fire insurance policy cannot be enlarged by adding riders or endorsements to the policy.
A)True
B)False
Q2) Renter's insurance fails to cover the insured for personal liability.
A)True
B)False
Q3) A homeowner's policy does not cover theft that takes place at the insured's workplace even if the item is insured.
A)True
B)False
Q4) Most employers pay for disability insurance for their employees in totality.
A)True
B)False
Q5) A worker's compensation insurance allows an employee to sue the employer along with claiming the insurance coverage.
A)True
B)False
Q6) What are the duties of an insured and insurer?
Page 53
To view all questions and flashcards with answers, click on the resource link above.
Chapter 51: Accountants' Duties and Liability
Available Study Resources on Quizplus for this Chatper
83 Verified Questions
83 Flashcards
Source URL: https://quizplus.com/quiz/11076
Sample Questions
Q1) What is the accountant-client privilege?
Q2) Which of the following opinions would an auditor make for a company that, he or she feels, has materially misstated certain items on its financial statements?
A)an unqualified opinion
B)an adverse opinion
C)a qualified opinion
D)a disclaimer of opinion
Q3) A person who practices as an accountant, but is not certified, is referred to as a public accountant.
A)True
B)False
Q4) Give an account of the Private Securities Litigation Reform Act of 1995
Q5) ________ is a state law that provides that an accountant's work papers cannot be used against a client in a court action.
A)Work product immunity
B)Accountant-client privilege
C)Foreseeability standard
D)Noerr Doctrine
Q6) Explain Section 552 of the Restatement (Second)of Torts.
To view all questions and flashcards with answers, click on the resource link above. Page 54
Chapter 52: Wills Trusts and Estates
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/11077
Sample Questions
Q1) What is a holographic will?
A)a will that is revoked on behalf of a testator by a legal attorney
B)a will that requires the beneficiary to be the witness of the will
C)a will that is entirely handwritten and signed by the testator
D)a will that is orally declared at a testator's deathbed
Q2) From which of the following parties can a creditor recover in a spendthrift trust?
A)reminder beneficiary
B)income beneficiary
C)trustee
D)successor trustee
Q3) According to the doctrine of ademption, the lineal descendants inherit by representation of their parent.
A)True
B)False
Q4) The primary purpose of using a living trust is to avoid probate associated with using a will.
A)True
B)False
Q5) What are the requirements of the Statute of Wills?
To view all questions and flashcards with answers, click on the resource link above. Page 55
Chapter 53: Family Law
Available Study Resources on Quizplus for this Chatper
85 Verified Questions
85 Flashcards
Source URL: https://quizplus.com/quiz/11078
Sample Questions
Q1) If a settlement agreement is not reached after mediation, the divorce case goes to trial.
A)True
B)False
Q2) Separate property does not include property owned by a spouse prior to the marriage.
A)True
B)False
Q3) In the event of Jane and Will opting for a divorce, ________ would be considered separate property for Jane.
A)the ancestral home
B)the new car
C)the stocks and bonds
D)the farmhouse
Q4) A prenuptial agreement is a legal document issued by a state which certifies that two people are married.
A)True
B)False
Q5) What is child support? How is it awarded?
Q6) How is the division of debt conducted after a divorce?
Page 56
To view all questions and flashcards with answers, click on the resource link above.
Chapter 54: International and World Trade Law
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/11079
Sample Questions
Q1) The North American Free Trade Agreement (NAFTA)includes special protection for favored industries that have a lot of lobby muscle.
A)True
B)False
Q2) In case of a breach in trade agreements of the World Trade Organization (WTO), which of the following WTO bodies first hears the dispute?
A)the WTO panel
B)the WTO appellate body
C)the WTO dispute settlement body
D)the WTO General Council
Q3) Indonesia, Vietnam, Thailand, and Philippines are members of the ________.
A)Organization of the Petroleum Exporting Countries
B)Association of Southeast Asian Nations
C)Dominican Republic-Central America Free Trade Agreement
D)North American Free Trade Agreement
Q4) A choice of law clause is a mandatory clause that should be present in every international contract.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 57