Commercial Law
Test Questions
Course Introduction
Commercial Law is a branch of law that governs the rights, relations, and conduct of individuals and businesses engaged in commerce, trade, and sales. This course provides an overview of key legal concepts related to contracts, agency, sale of goods, negotiable instruments, secured transactions, and business organizations. Students will learn how legal principles apply to real-world business situations, understand the framework of statutory and common law governing commercial activities, and develop the ability to identify and address legal issues that arise in commercial transactions. The course aims to equip students with practical knowledge and analytical skills essential for navigating the legal environment of the business world.
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) As a judge,Bonnie applies common law rules.These rules develop from
A)administrative regulations.
B)court decisions.
C)federal and state statutes.
D)proposed uniform laws.
Answer: B
Q2) Statutory law includes state statutes and ordinances passed by cities and counties.
A)True
B)False
Answer: True
Q3) A small business owner is likely to face legal questions when determining ways to reduce his small business's taxes.
A)True
B)False
Answer: True
Q4) A court may depart from a precedent if the precedent is no longer valid.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 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) Some companies set up confidential systems for employees to "raise red flags" about suspected unethical practices.
A)True
B)False
Answer: True
Q2) Applied Business Corporation makes and markets its products nationwide.Under the stakeholder approach,to be considered socially responsible when making a business decision,Applied must take into account the needs of
A)its consumers,the community,and society only.
B)its employees and owners only.
C)its employees,owners,consumers,the community,and society.
D)no one.
Answer: C
Q3) According to utilitarianism,it matters how many people suffer a negative effect from an act.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 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) A default judgment is a judgment entered against the party who brought the claim before the court.
A)True
B)False
Answer: False
Q2) All states have intermediate appellate courts.
A)True
B)False
Answer: False
Q3) Elinor sells Cathy a horse for $2,000.When Elinor goes to the bank to deposit Cathy's check,the check bounces.Elinor is furious and files suit against Cathy.Elinor probably filed her suit in
A)a small claims court.
B)a domestic relations court.
C)a municipal court.
D)a probate court.
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 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) Tami's Tasty Tacos,a fast food outfit,files a suit against the state of Utah,claiming that a Utah state law violates the commerce clause.The court will agree if the statute imposes a substantial burden on
A)a local government.
B)interstate commerce.
C)noneconomic activity.
D)the state.
Q2) All powers not specifically delegated to the federal government are reserved to the states.
A)True
B)False
Q3) Jim operates Jim's Fruits & Vegetables,a small market stocked entirely with produce grown on his adjacent farm.Under what clause of the Constitution can the federal government regulate Jim's activities? What is Jim's best argument against federal regulation of his farm and business?
Q4) The President determines the jurisdiction of the federal courts.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
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) The courts consider legitimate competitive behavior permissible only if it does not result in the breaking of a contract.
A)True
B)False
Q2) Defense of property is NOT a defense to an allegation of assault or battery.
A)True
B)False
Q3) A house is an example of personal property.
A)True
B)False
Q4) Margaret is walking out of a department store.She is carrying lots of packages and talking on her cell phone.She is so distracted that she forgets to open the door and walks into it.She falls and breaks her ankle.Margaret can sue the department store for A)negligence.
B)battery.
C)breach of duty of care.
D)none of the choices.
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) A license permits the use of intellectual property for certain limited purposes.
A)True
B)False
Q2) Trevor's business is The Spicy Chocolatier Café chain.This restaurant's name is
A)a certification mark.
B)a collective mark.
C)a service mark.
D)a trade name.
Q3) A copyright owner must place a © or an ® on the work to have the work protected from copyright infringement.
A)True
B)False
Q4) Joey reproduces Mina's copyrighted work without paying royalties.Joey is most likely excepted from liability for copyright infringement under the "fair use" doctrine if
A)Joey copies the entire work.
B)Joey distributes the copies freely to the public.
C)Joey's use has no effect on the market for Mina's work.
D)Joey's use is for a commercial purpose.
To view all questions and flashcards with answers, click on the resource link above.
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) Changing a trademark is forgery.
A)True
B)False
Q2) Under the ____________ Amendment,no warrants for a search or an arrest can be issued without probable cause.
A)Second
B)Fourth
C)Fifth
D)Eighth
Q3) Under the exclusionary rule,illegally obtained evidence may not be included in any criminal prosecution.
A)True
B)False
Q4) The crime of bribery occurs when the bribe is offered even if it is not accepted.
A)True
B)False
Q5) Torts are considered crimes.
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) An express contract need not be in writing.
A)True
B)False
Q2) Bobbie claims that Carly breached their contract.Carly responds that she never intended to enter into a contract with Bobbie.The intent to enter into a contract is determined with reference to
A)the conscious theory of contracts.
B)the objective theory of contracts.
C)the personal theory of contracts.
D)the subjective theory of contracts.
Q3) Demi promises to buy a house from Caleb,who promises to vacate the prop?erty on June 1.If these promises are in writing,they are most likely
A)enforceable.
B)unenforceable.
C)void.
D)voidable.
Q4) A contract is an agreement that can be enforced in court.
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) When an offeree makes a counteroffer,he or she becomes the offeror.
A)True
B)False
Q2) An offer made to the public needs to be revoked in the same manner in which the offer was originally communicated.
A)True
B)False
Q3) A circular letter is NOT evidence of an intent to enter into a contract.
A)True
B)False
Q4) Fix-It-Quik,Inc.,offers Denise a job as a plumber.No time for acceptance is specified in the offer.The offer will terminate
A)after a reasonable period of time.
B)after a work week (five business days).
C)after a month (thirty calendar days).
D)never.
Q5) An invitation to negotiate-"can you afford this?"-is an offer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
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) Windshield Repair Shop (WRS) promises to pay Vincent $1,000 a week to work for WRS.Vincent accepts and quits his job with Ultra Glass.WRS fails to provide a job for Vincent.Vincent has a cause of action based on A)an illusory promise.
B)a release.
C)past consideration.
D)promissory estoppel.
Q2) Past consideration can be legally sufficient consideration.
A)True
B)False
Q3) Refer to Fact Pattern 10-1.Dave's discount is legally sufficient consid?eration
A)because it is a promise of something of value.
B)only if Dave adds a cash rebate.
C)only if Estelle uses it.
D)under no circumstances.
Q4) Promissory estoppel requires that justice will be better served by the enforcement of the promise.
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) Parents who sign a contract made by their minor child with an adult have the same option to disaffirm as the child.
A)True
B)False
Q2) Jody,a minor,is living at home with her parents,but signs a lease with Idyll Grove
Apartments,a land?lord,to rent an apartment.Jody can
A)disaffirm the lease because her parents can be held liable for it.
B)disaffirm the lease without liability.
C)not disaffirm the lease because an apartment is a "necessary."
D)not disaffirm the lease because she intended to live on her own.
Q3) Contractual capacity refers to the legal ability to enter into a contract.
A)True
B)False
Q4) In most states,when a person turns eighteen,he or she has reached
A)the age of majority.
B)the age of infancy.
C)the age of ratification.
D)the age of competence.
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) Any contract entered into with an unlicensed party is unenforceable.
A)True
B)False
Q2) The main problem with contract reformation is that A)judges are notoriously corrupt.
B)it takes a long time.
C)the judge becomes a party to the contract.
D)it requires many additional court fees.
Q3) The maximum rate of interest is same in every state.
A)True
B)False
Q4) Oklahoma charges Dewey,a design engineer and the owner of Windfarm Energy Corp.,a fee to practice his profession in the state.This is A)usurious.
B)unconscionable.
C)a license.
D)an adhesion contract.
Q5) Statutes often prescribe the terms of contracts.
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) Pete,an accountant,convinces his client Kasey to invest her savings in a nonexistent social-networking Web site.When Kasey learns the truth,she can
A)impose her own scam on Pete without liability.
B)induce Pete to give her his other clients' funds without recourse.
C)rescind the contract to invest in the Web site.
D)sabotage Pete's career in any way possible.
Q2) Misrepresentation of a material fact can occur through words alone.
A)True
B)False
Q3) A deceived person must have a justifiable reason for relying on a misrepresentation. A)True
B)False
Q4) Dale files a suit against Evelyn,alleging her fraud in entering into a con?tract with him.Proof of an injury is required
A)to recover damages.
B)to rescind the contract.
C)to undo Evelyn's influence.
D)under no circumstances.
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) Miranda orally promises Nicky that she will buy his fishing trawler for $10,000.Before either party acts in reliance on this promise,under the doctrine of promissory estoppel,the transaction is enforceable by A)either party.
B)Miranda only.
C)neither party.
D)Nicky only.
Q2) Oral evidence of the modification of a contract after its making can be introduced at a trial.
A)True
B)False
Q3) A party's oral agreement to pay another's debt is NOT enforceable if the party's main purpose is to derive a benefit for himself or herself.
A)True
B)False
Q4) Under the Statute of Frauds,fixtures,such as buildings,growing crops and minerals,are treated as real property.
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) Esther and Faisal agree that Esther will fix Faisal's car in exchange for his paying a preexisting debt owed by Esther to Gladys.Gladys is
A)an assignee.
B)an intended beneficiary.
C)an incidental beneficiary.
D)a delegatee.
Q2) 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
Q3) A third party's rights under a contract vest when the conditions for vesting are satisfied.
A)True
B)False
Q4) A third party's right to control the details of performance of a contract indicates that the third party is an intended beneficiary.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
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) Objective impossibility discharges a contract.
A)True
B)False
Q2) Dobry Die & Mold,Inc.,enters into a contract with Chet's Refitting Service to fix Dobry's precisely engineered molding equipment.If Chet's delays the repair for five days,knowing that Dobry will lose a certain percentage of profit for the delay,Dobry might be awarded consequential damages to
A)establish,as a matter of principle,that Chet's acted wrongfully.
B)provide Dobry with funds for a foreseeable loss beyond the contract.
C)provide Dobry with funds for its loss of the bargain.
D)punish Chet's and set an example to deter others from similar acts.
Q3) Dino hires Eve to perform at Dino's Club,but Eve later breaches the agreement to accept a higher-paying job at First Star Arena.Dino files a suit against Eve.The court will most likely
A)award damages to Dino.
B)cancel Dino and Eve's contract.
C)order Eve to perform the contract.
D)rewrite Dino and Eve's contract.
To view all questions and flashcards with answers, click on the resource link above. Page 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) Browse-wrap terms require a user to affirmatively indicate his or her consent.
A)True
B)False
Q2) A shrink-wrap agreement is normally enforced.
A)True
B)False
Q3) A shrink-wrap agreement is an agreement whose terms are expressed in?side a box in which the goods are packaged.
A)True
B)False
Q4) Under the UETA,an e-signature of a notary public is NOT sufficient to notarize a document.
A)True
B)False
Q5) The UETA covers only e-records and e-signatures relating to a transaction.
A)True
B)False
Q6) Parties may NOT opt out of any terms of the UETA.
A)True
B)False
Page 19
To view all questions and flashcards with answers, click on the resource link above.
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) Generally,acceptance of an offer to lease goods may be made in any reasonable manner and by any reasonable means.
A)True
B)False
Q2) No oral contract is enforceable under the UCC.
A)True
B)False
Q3) A lessee is a party who acquires a right to the possession and use of goods under a lease.
A)True
B)False
Q4) Nature's Products,Inc.,sends its standard order form to Interbusiness Distribution Corporation (IDC) to evidence a sale of packing materials. IDC responds with its own standard purchase order form. Additional terms in the purchase order automatically become part of the contract unless
A)the terms materially alter the original contract.
B)the original offer expressly required acceptance of its terms.
C)the offeror objects to the new terms within a reasonable time.
D)any of the choices.
To view all questions and flashcards with answers, click on the resource link above. Page 20
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) On behalf of Premier Shipbuilding Corporation (PSC),Rita orders 1,000 cases of 1/4-inch nuts from Steel Parts Company's 10,000-case lot.Steel Parts separates 1,000 cases from the lot.Title and risk of loss
A)remain with Steel Parts until PSC acknowledges tender of delivery.
B)remain with Steel Parts until PSC accepts 1,000 cases.
C)shift to PSC after it accepts the nuts and inspects them for defects.
D)shift to PSC when Steel Parts separates the cases.
Q2) Levi,a well-known lumber dealer with a good reputation,buys a load of lumber and pays for it with a check that is later dishonored.Sam,who is unaware of the bad check,buys the lumber from Levi.Sam is a(n)
A)good faith purchaser.
B)bad faith purchaser.
C)insolvent purchaser.
D)bailee.
Q3) "Unless otherwise explicitly agreed," title passes to the buyer at the time at which the seller orally agrees to deliver the goods.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
21
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) Tender must occur at a reasonable hour and in a reasonable manner.
A)True
B)False
Q2) Craft Engineering,Inc.,contracts for a sale of technical instruments to Detail Design Company.Before the date on which performance is due,Craft notifies Detail that it will not perform.This is
A)anticipatory repudiation.
B)perfect tender.
C)rejection of performance.
D)revocation of acceptance.
Q3) If a seller discovers that the buyer has received goods on credit and is insolvent,the seller can only demand the return of the goods if he or she does so on the same day that the buyer received the goods.
A)True
B)False
Q4) The seller's or lessor's major obligation under a sales contract is to tender conforming goods to the buyer or lessee.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 22
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) Goods must be of the highest quality possible to be merchantable. A)True
B)False
Q2) Paltry Assembly Company makes espresso machines and sells one to Vim through a misrepresentation on the label on which Vim relies and that results in an injury to Vim.Paltry is most likely liable for A)a commonly known danger.
B)fraud.
C)privity.
D)puffery.
Q3) Krissa,a horse breeder,shows Maggie,a customer looking for a new stallion for her breeding program,a stallion and tells her that the stallion is very fertile and can easily breed twenty mares per year.Krissa's statement is A)an express warranty. B)an implied warranty.
C)a warranty of title. D)puffery.
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) National Home Products,Inc.,in its advertisements,makes false claims about its own products and about the products of its competitors. National may be subject to sanctions for the false claims about A) its products only.
B)its competitors' products only.
C)its products and its competitors' products.
D)none of the choices.
Q2) The most significant consumer protection provision of the Uniform Commercial Code is the one that recognizes unconscionability.
A)True
B)False
Q3) Dina takes out a student loan from Earnest Bank.When she fails to make the scheduled payments for six months,Earnest advises her of further ac?tion that it will take.This is a violation of
A)no federal law.
B)the Fair and Accurate Credit Transactions Act.
C)the Fair Debt Collection Practices Act.
D)the Truth-in-Lending Act.
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) Sarah has a checking account at Secure Bank.Sarah buys her roommate Sophie's two tickets to a Broadway musical for $200.Sarah writes Sophie a check for the tickets.In this situation,Secure Bank is the A)drawee.
B)indorser.
C)payee.
D)drawer.
Q2) To obtain office supplies for All-Care Medical Clinic,Britney executes a draft in favor of Chris.A draft is
A)a conditional promise to pay money.
B)an unconditional written order to pay money.
C)a qualified promise to set aside a sum of money.
D)a restricted promise to deliver goods at a future date.
Q3) Opal signs a promissory note payable to the order of Payday Loan Company.The note states that it is payable "with interest at the legal rate." This note is A)negotiable.
B)nonnegotiable,because it does not specify a rate of interest.
C)nonnegotiable,because it is a promissory note.
D)nonnegotiable,because it is payable only with interest.
To view all questions and flashcards with answers, click on the resource link above.
Page 25
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) A holder takes an instrument for value if he or she gives a check as pay?ment for it.
A)True
B)False
Q2) The concept of value in the law of negotiable instruments is the same as the concept of consideration in the law of contracts.
A)True
B)False
Q3) Ada is the maker of a note,on which Bart is secondarily liable.Cash & Credit Company (C&C) is the current holder of the note.Bart will be obli?gated to pay the note if
A)Ada defaults on the note.
B)C&C breaches a transfer warranty.
C)C&C negotiates the note to Delta Collection Agency,a third party.
D)C&C presents the note for payment.
Q4) One of the transfer warranties is that the instrument has not been materially altered.
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) A customer who writes a bad check may be subject to criminal prosecution.
A)True
B)False
Q2) Stored-value cards are a form of digital cash.
A)True
B)False
Q3) If there are insufficient funds to cover the amount of a check in a customer's account,the bank may pay the item and create an overdraft without the customer's authorization.
A)True
B)False
Q4) Dru signs a check "pay to the order of Eppie" drawn on Dru's account in First Federal Bank.Greta forges Eppie's indorsement.First Federal pays the check.Most likely
A)Dru will be liable for the amount.
B)Eppie will have to pay Dru for the amount.
C)First Federal will have to recredit Dru's account.
D)the Federal Reserve will reimburse all parties for their costs.
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) Based on Nan's conduct,Odel reasonably believes that Poppy has the authority to act on Nan's behalf even though Poppy does not have the actual authority to do so.In this circumstance,Poppy has
A)apparent authority.
B)express authority.
C)implied authority.
D)no authority.
Q2) An employer has no control over an employee's work.
A)True
B)False
Q3) Miklos employs Nathalie to handle a list of financial transactions on Miklos's behalf.This power will terminate on A)any transaction causing a loss to Miklos.
B)Miklos's death or incapacity.
C)Miklos's sixty-fifth birthday.
D)Nathalie's handling of one of each stipulated transaction.
Q4) An agency relationship may occur by operation of law in a family.
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) Cash is an employee of Drowsy Resort,Inc.,covered by federal overtime provisions,which apply only after an employee has worked more than
A)eight hours in a day.
B)forty hours in a week.
C)160 hours in a month.
D)one year for the same employer.
Q2) Big Drill Oil Company employees one hundred workers.Big Drill must do all of the following except
A)keep occupational injury and illness records for each employee.
B)report any work-related diseases directly to OSHA.
C)report any employee death due to a work-related incident to OSHA within eight hours.
D)pay employees working more dangerous areas higher wages.
Q3) Only the federal government sets safety standards governing workplaces. A)True
B)False
Q4) Federal law does NOT restrict employers' use of the results of genetics tests.
A)True
B)False
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) Lew,a member of a protected class,applies for a job with Mit-E Construction Company,but fails Mit-E's employment test and is not hired.Lew believes that the test has an unintentionally discriminatory effect.If so,this is
A)desperate-measure discrimination.
B)disparate-impact discrimination.
C)disparate-treatment discrimination.
D)not discrimination.
Q2) A union may discriminate against workers who do not wish to "join" the union.
A)True
B)False
Q3) Gender can be a bona fide occupational qualification.
A)True
B)False
Q4) Detroit Automotive Company (DAC) agrees with its employees' union not to buy any nonunion-produced component parts from other firms for use in DAC products.This is A)a permissible secondary boycott.
B)a prohibited secondary boycott.
C)a technically legal secondary boycott.
D)a unilateral one-party boycott.
To view all questions and flashcards with answers, click on the resource link above. Page 30
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72416
Sample Questions
Q1) Jay is a member of Klondike Coffee,LLC,a limited liability company.Jay is liable for Klondike's debts
A)in proportion to the total number of members.
B)to the extent of his investment in the firm.
C)to the extent that the other members do not pay the debts.
D)to the full extent.
Q2) Venture Capital,LP,is a limited partnership.A Venture limited partner loses his or her limited liability if he or she
A)acts as the firm's manager.
B)has full awareness of the firm's business activities.
C)invests in the firm's competitor.
D)votes on the firm's sale or dissolution.
Q3) Sara is a partner in the general partnership Big Cookies.Sara does NOT owe Big Cookies a duty to devote A)time.
B)compassion.
C)skill.
D)energy.
To view all questions and flashcards with answers, click on the resource link above.
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) The intended business activities of a corporation must be specified in its articles of incorporation.
A)True
B)False
Q2) A corporate name must include the word Corporation,Incorporated,Company,or Limited.
A)True
B)False
Q3) Erin is a shareholder in African Adventures.As a shareholder,Erin
A)owns shares of stock in African Adventures.
B)is the founder of African Adventures.
C)has no say in the election of African Adventure's board of directors.
D)is liable for all the debts of African Adventures.
Q4) A close corporation can operate as an S corporation.
A)True B)False
Q5) In a consolidation,the consolidating corporations become subsidiaries of the new corporation.
A)True
B)False
32
To view all questions and flashcards with answers, click on the resource link above.
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) A board of directors can delegate some functions to corporate officers.
A)True
B)False
Q2) The minimum number of members of a body of officials that must be present before business can validly be transacted is known as a quorum.
A)True
B)False
Q3) RayAnn is a corporate officer for Timmy's Trees,Inc.As a corporate officer,RayAnn is
A)the head of the board of directors.
B)involved in the day-to-day operations of Timmy's Trees.
C)not involved in the day-to-day operations of Timmy's Trees.
D)in charge of selecting members of the board of directors.
Q4) Generally,Sports Fitness Club Company and other corporations can pay dividends if
A)the corporation can continue to pay its debts as they come due.
B)the amount of the dividends exceed the corporation's net worth.
C)the shareholders approve.
D)the corporation's assets equal its total liabilities.
To view all questions and flashcards with answers, click on the resource link above. Page 33
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) Advances against lines of credit can be subject to a perfected security interest in identified collateral.
A)True
B)False
Q2) The payment of Frida's debt to Gianini is guaranteed by Frida's personal property.Gianini is
A)a debtor.
B)a secured party.
C)a secured transaction.
D)a security interest.
Q3) Joan borrows money from Jake under a security agreement.After borrowing the money,Joan purchases a new sports car.The sports car is considered
A)collateral.
B)after-acquired property.
C)a future advance.
D)proceeds.
Q4) The concept of a floating lien applies to a constantly changing inventory.
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) A mechanic's lien can be enforced to obtain payment for work that adds value to real property.
A)True
B)False
Q2) In some states,a judgment creditor must obtain a separate order of gar?nishment to cover each of the debtor's pay periods.
A)True
B)False
Q3) A contract of suretyship does not necessarily have to be in writing to be enforceable.
A)True
B)False
Q4) Khali's debt to Lew is past due.Lew obtains a judgment against Khali to collect the debt,but Khali refuses to pay.Lew asks the court to order Khali's employer to pay a portion of Khali's paycheck to Lew.This is a request for
A)an exemption from most federal limits on creditors' actions.
B)an order of garnishment.
C)an order that would violate most state laws.
D)a right of contribution.
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) Cara is a bankruptcy trustee.As a bankruptcy trustee,Cara cannot
A)cancel fraudulent transactions made by the debtor within two years of the filing of the petition.
B)ask the court for a writ of execution.
C)avoid preferences.
D)pay the lowest priority creditors first.
Q2) Current City (CC) is a retail seller of television sets.CC sells Dhani a $3,000 large-screen,high-definition,LED set on a retail installment security agreement in which he pays $100 down and agrees to pay the balance in equal installments.CC retains a security interest in the set,and perfects that interest by filing a financing statement centrally.Two months later,Dhani is in default on the payments to CC and is involun?tarily petitioned into bankruptcy by other creditors.Discuss CC's right to repossess the TV set and whether CC has priority over the trustee in bankruptcy.
Q3) A preference occurs when a debtor transfers property or money favoring one creditor over others.
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) All-risk insurance is property insurance that covers damage resulting from all risks not specifically excluded.
A)True
B)False
Q2) Ginny obtains a health-insurance policy for her family from Hope Insurance Company.The policy includes an incontestability clause.Under such a clause,after a policy has been in force for a specified period or time,such as two or three years
A)Ginny cannot enter a contest sponsored by Hope or its affiliate.
B)Ginny cannot contest Hope's refusal to pay a claim under the policy.
C)Hope cannot contest Ginny's eligibility for continued coverage.
D)Hope cannot contest Ginny's statements in the application.
Q3) Property insurance cannot be canceled for nonpayment of premiums.
A)True B)False
Q4) There is little state regulation for the insurance industry.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
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) Forbearance is an agreement between the lender and the borrower to postpone,for a limited time,of part or all of the payments on a loan in jeopardy of foreclosure.
A)True
B)False
Q2) If a borrower does not pay a loan within a reasonable time after receiving a notice of default,then the borrower will receive a notice of sale.
A)True
B)False
Q3) To initiate a foreclosure,a lender must record a notice of default with the appropriate county office.
A)True
B)False
Q4) Equitable redemption allows a defaulting borrower to gain title and regain possession of a property.
A)True B)False
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) Angela is young and healthy when she gives Annie a prize-winning horse.The gift meets all the requirements to be effective.This is a gift
A)inter vivos.
B)causa mortis.
C)by accession.
D)by confusion.
Q2) A finder of mislaid property is an involuntary bailee.
A)True
B)False
Q3) A finder acquires title to mislaid property good against the whole world,in?cluding the true owner.
A)True
B)False
Q4) A joint tenant's sale of his or her interest terminates the joint tenancy.
A)True
B)False
Q5) In a tenancy in common,the fractional interests must be equal.
A)True
B)False
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) Bay City wants to acquire undeveloped land within the city limits to con?vert into a public park.Bay City brings a judicial proceeding to obtain ti?tle to the land.This is
A)adverse possession.
B)an easement.
C)constructive eviction.
D)the power of eminent domain.
Q2) The exterior boundaries of land extend straight down for 500 feet and straight up for 500 feet.
A)True
B)False
Q3) Flights over private land normally do NOT violate the property owners' rights.
A)True
B)False
Q4) John owns an orchard behind Kay's house and property.The only access to the orchard is Kay's driveway,which John uses to get to his land.Does John have an ownership interest in this use of Kay's driveway? If so,what is it?
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) In every leasehold estate,the tenant has an unqualified right to exclusive possession.
A)True
B)False
Q2) Property Management Corporation (PMC) owns several apartment buildings in two states.Regarding standards for maintenance of the build?ings,PMC should consult
A)the applicable city ordinances and state statutes.
B)the previous owners.
C)the long-term tenants.
D)the Uniform Landlords' Maintenance Manual.
Q3) Janice lives in Wendy's beach house without paying rent.Janice's tenancy is
A)a fixed-term tenancy.
B)a tenancy at will.
C)an illegal tenancy.
D)a periodic tenancy.
Q4) A tenant has a right to obtain possession of leased property at the begin?ning of a lease term and retain possession until the end of the term.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
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) A codicil is a clause in a will affirming an administrator's testamentary capacity.
A)True
B)False
Q2) Once executed,a will cannot be revoked.
A)True
B)False
Q3) According to the terms of Carmen's will,specific gifts are made,and taxes and other es?tate expenses and debts are paid.The assets of Carmen's estate that remain are most likely to be distributed
A)by codicil.
B)holographically.
C)per capita.
D)through a residuary clause.
Q4) A divorce occurring after the execution of a will revokes dispositions of property to the former spouse.
A)True
B)False
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) Any party to a case may appeal the order of an administrative law judge to the board or commission that governs the agency.
A)True
B)False
Q2) Judicial review of administrative agency actions is automatic.
A)True
B)False
Q3) The Equal Employment Opportunity Commission (EEOC) orders Fatcheck Financial Company to reveal certain information.Fatcheck complains to a court,arguing that the order is an abuse of the EEOC's discretion. Like other agencies,the EEOC can use a subpoena to
A)obtain any information,without limits.
B)obtain testimony or documents.
C)obtain documents,but not to compel a party to testify.
D)pressure a party to settle an unrelated matter.
Q4) Independent regulatory agencies are outside the federal executive departments.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 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) Charging different prices to different buyers for identical goods is price discrimination.
A)True
B)False
Q2) A trade association practice or agreement that restrains trade is analyzed under the rule of reason.
A)True
B)False
Q3) Spa Selectiva Company makes and sells beauty salon supplies.By selling its product at prices substantially below the normal cost of production,Spa Selectiva hopes to drive its competitors from the market.This is
A)market power.
B)predatory pricing.
C)price discrimination.
D)price-fixing.
Q4) 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
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) Bango! Business,Inc.,a U.S.firm,may have committed,in Chile,acts that would constitute,in the United States,violations of U.S.anti?trust laws.These laws apply
A)extraterritorially.
B)only to signatories of the North American Free Trade Agreement.
C)only to members of the World Trade Organization.
D)only within U.S.borders.
Q2) All international sales contracts should have a choice-of-language clause to designate the official language by which the contract will be interpreted.
A)True
B)False
Q3) The Foreign Sovereign Immunities Act spells out what a "foreign state" includes.
A)True
B)False
Q4) 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
To view all questions and flashcards with answers, click on the resource link above. Page 45