Corporate Law
Exam Materials
Course Introduction
Corporate Law is a foundational course that explores the legal framework governing corporations and other business entities. The course examines the creation, organization, and dissolution of corporations, as well as the rights and responsibilities of directors, officers, and shareholders. Key topics include corporate governance, fiduciary duties, mergers and acquisitions, securities regulation, and compliance with statutory requirements. Through case studies and analysis of legislative developments, students develop an understanding of how corporate law shapes business practices, ensures accountability, and protects stakeholders interests in the modern economy.
Recommended Textbook
Dynamic Business Law 4th Edition by
Nancy K. Kubasek
Available Study Resources on Quizplus
52 Chapters
4658 Verified Questions
4658 Flashcards
Source URL: https://quizplus.com/study-set/3756
Page 2
Chapter 1: An Introduction to Dynamic Business Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74806
Sample Questions
Q1) Which statements are true regarding Ashley's claim against Bob for damages involving the laptop and her claim that Bob maliciously had her arrested?
A)The claim for damages involving the laptop is a civil claim involving private law,but the claim that Bob maliciously had her arrested is a criminal claim involving public law.
B)The claim for damages involving the laptop is a civil claim involving private law,but the claim that Bob maliciously had her arrested is a criminal claim involving private law.
C)The claim for damages involving the laptop and also the claim that Bob maliciously had her arrested are criminal claims involving private law.
D)The claim for damages involving the laptop and also the claim that Bob maliciously had her arrested are civil claims involving private law.
E)The claim for damages involving the laptop is a civil claim involving private law,but the claim that Bob maliciously had her arrested is a civil claim involving public law.
Answer: D
To view all questions and flashcards with answers, click on the resource link above.
3
Chapter 2: Business Ethics
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74807
Sample Questions
Q1) Which of the following is not a theory of business ethics.
A)Profit motive
B)Deontology
C)Ethical relativism
D)Absolutism
E)Consequentialism
Answer: A
Q2) An employee who believes that she should not cheat on a drug test because if everyone did so,the test would be meaningless is applying a[n] ________.
A)Cost-benefit analysis
B)Ethics of care
C)Categorical imperative
D)Virtual analysis
E)Fundamentalist approach
Answer: C
Q3) One form of consequentialism is utilitarianism.
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 Uslegal System
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74808
Sample Questions
Q1) If a potential juror's response to a question indicates bias,an attorney should use a peremptory challenge to remove the juror.
A)True
B)False
Answer: False
Q2) Within the U.S. ,courts may issue advisory opinions.
A)True
B)False
Answer: False
Q3) The federal court system has exclusive jurisdiction over ________.
A)Admiralty,bankruptcy,and federal copyright cases
B)Bankruptcy cases only
C)Federal copyright cases only
D)The federal court system has no exclusive jurisdiction
E)Admiralty cases only
Answer: A
Q4) Plaintiffs must prove their cases beyond a reasonable doubt in most civil cases.
A)True
B)False
Answer: False
Page 5
To view all questions and flashcards with answers, click on the resource link above.
Chapter 4: Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74809
Sample Questions
Q1) Sofia tells Gordon she wants to arbitrate their dispute.Gordon tells Sofia that if the arbitrator does not rule in her favor,they can appeal,but it is very difficult to overturn the decision of an arbitrator.Is Gordon correct?
A)No,arbitration decisions are final and binding.
B)No,arbitration decisions are often overturned because many arbitrators do not have a background in law.
C)No,arbitration decisions are held to the same standard as a judge's ruling.
D)Yes,an arbitrator's decision is difficult to overturn because courts often do not have jurisdiction over a private arbitration.
E)Yes,courts give extreme deference to arbitrators' decisions.
Q2) What types of ADR techniques exist in Japan?
A)ADR is outlawed in Japan
B)Compromise and conciliation,but not arbitration
C)Arbitration,but not compromise or conciliation
D)Compromise,conciliation,and arbitration
E)Conciliation and arbitration,but not compromise
Q3) In order to perform arbitration,a person must be a lawyer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Constitutional Principles
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74810
Sample Questions
Q1) The First Amendment to the U.S.Constitution is the primary source of authority for federal regulation of business.
A)True
B)False
Q2) The Bill of Rights includes amendments Twelve through Fourteen.
A)True
B)False
Q3) Which amendment provides that the government cannot infringe on citizens' right to bear arms?
A)Second
B)Fifth
C)Sixth
D)First
E)None
Q4) Cruel and unusual punishment is prohibited under the ________ Amendment.
A)Eighth
B)Second
C)Fifth
D)Fourth
E)Tenth
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: International and Comparative Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74811
Sample Questions
Q1) Which of the following is an international agreement governing the arbitration of private international disputes that has been ratified by the U.S.?
A)The International Arbitration Convention
B)The French Convention
C)The New York Convention
D)The NAFTA Convention
E)The Hague Convention
Q2) Define tariffs and how they may be calculated.Additionally,define a nontariff barrier and list and define three types of non-tariff barriers.
Q3) Is Sonya correct that her contract with the Mexican company is complete when she drops it in the mail?
A)No,if the UCC applies.
B)No,if the CISG applies.
C)No,because neither the UCC nor the CISG would apply.
D)Yes,because a contract need not be in writing under the CISG.
E)Yes,because both the UCC and the CISG would apply.
Q4) The United States is not a party to the Central American Free Trade Agreement.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Crime and the Business Community
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74812
Sample Questions
Q1) Which of the following was created specifically to combat white-collar crime?
A)The False Claims Act.
B)The Sarbanes-Oxley Act.
C)RICO.
D)Section 1983.
E)Section 1984.
Q2) Which of the following is a plea in which the defendant does not admit guilt but agrees not to contest the charges?
A)Plea avoidance.
B)Sine qua non.
C)Nolo contendere.
D)Petit defense.
E)Information.
Q3) In order to demonstrate a claim under the Racketeer Influenced and Corrupt Organizations RICO)Act,one must show proof of more than one wrongful act.
A)True
B)False
Q4) What elements are necessary to establish bribery of a public official?
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Tort Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74813
Sample Questions
Q1) Zach gets angry because Austin earned a better grade on a test than he did.They get into an argument,and Zach takes a swing at Austin,intending to hit him.Austin shoves Zach in order to avoid the blow.Which of the following is true regarding Austin's actions?
A)Austin has committed both an assault and a battery.
B)Austin cannot rely on self-defense because he was involved in the argument and not completely innocent.
C)Austin cannot rely upon self-defense because his life was not in danger.
D)Austin has not committed an assault or a battery because he acted in self-defense.
E)Austin has committed a battery.
Q2) Which of the following is a purpose of tort law?
A)To compensate innocent persons who are injured.
B)To allow a remedy for breach of contract claims.
C)To impose criminal penalties on those who commit wrongdoing.
D)To encourage vigilante justice.
E)To allow prosecutors to protect the vulnerable.
Q3) List the four purposes of tort law and discuss whether you believe that additional tort reform should occur.
Q4) List and explain the four different types of privacy torts.
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: Negligence and Strict Liability
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74814
Sample Questions
Q1) Which of the following is sometimes referred to as proximate cause?
A)Legal cause.
B)Factual Cause.
C)Actual cause.
D)Significant cause.
E)Cause in fact.
Q2) Which of the following is true regarding negligence under South African Law?
A)South Africa's legal system is a combination of selected legal traditions involving Roman,Dutch,and French law,but not German law.
B)South African law refuses to recognize sudden emergency as a standard for determining negligence in crisis situations.
C)Under South African law,individuals can be found negligent in only one way,through failing to exercise reasonable care.
D)South African law models the law of the U.S.and is substantially the same.
E)South African law recognizes that one way to determine negligence is by determining whether the defendant could have prevented the consequent damages.
Q3) Identify and discuss the two separate elements of causation and how they are applied.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Product Liability
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74815
Sample Questions
Q1) Which of the following products would likely have the lowest cost for product liability insurance?
A)Window blinds with cords.
B)Microwave ovens.
C)Decorative wall art.
D)Lamps.
E)Coffee makers.
Q2) What was the result in the text's case involving a plaintiff who suffered permanent liver damages as a result of drinking a glass of wine with a Tylenol capsule?
A)For plaintiff,because no comparative negligence was found.
B)For defendant,because the plaintiff's adverse reaction from the ingestion of only one capsule was extremely rare.
C)For defendant,because it had no duty to warn.
D)For plaintiff,because the degree of potential harm was substantial and it would have been easy to place a warning.
E)For defendant,because there was no proof of market share.
Q3) In most states,what must a plaintiff prove to succeed in a strict-liability action alleging a defective product?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Liability of Accountants and Other Professionals
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/74816
Sample Questions
Q1) Does Javier's disclaimer in his opinion letter protect him from liability?
A)Yes,as long as the disclaimer was part of the opinion letter.
B)Yes,because a qualification will limit liability.
C)No,because the disclaimer is broad and general.
D)Yes,but only if he properly applied GAAP and GAAS.
E)Yes,because a disclaimer protects an accountant from liability based on failure to detect fraud.
Q2) Which of the following is true about professional indemnity insurance?
A)It provides coverage in the event that a professional is sued for failing to live up to his or her professional responsibilities.
B)It does not cover malpractice claims.
C)Professionals who might be subject to malpractice claims usually do not purchase professional indemnity insurance.
D)It provides coverage in the event that a professional is sued for malpractice,but not for failing to live up to his or her professional responsibilities.
E)Doctors,lawyers,and accountants may purchase this type of insurance,but not other professionals.
Q3) When can an accountant be held liable to his or her client for fraud?
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Intellectual Property
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74817
Sample
Questions
Q1) Which of the following is true regarding what may be the subject of a patent?
A)Only products may be the subject of patents.
B)A product,a process,an invention,or a plant produced by asexual reproduction may be the subject of a patent.
C)Only processes may be the subject of patents.
D)Only inventions may be the subject of patents.
E)An invention may be the subject of a patent,but a plant produced by asexual reproduction may not be the subject of a patent.
Q2) In order to succeed on a claim of trade-dress infringement,what must a party prove?
Q3) Which of the following is not a criterion that must be satisfied before patent can be granted?
A)The object of the patent must be nonobvious.
B)The subject of the patent must be fixed.
C)The object of the patent must be useful.
D)The object of the patent must be novel.
E)The subject of the patent must be patentable.
Q4) What four criteria must be satisfied in order to obtain a patent on a product,process,invention,or machine?
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Introduction to Contracts
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74818
Sample Questions
Q1) What number of states will still allow a contract without consideration to be enforced if it is under seal?
A)Five
B)Twenty
C)Eight
D)Ten
E)Thirty
Q2) Which of the following statements is true about ESIGN?
A)Documents produced electronically are legally valid,but not as valid as documents produced on paper.
B)E-contracts are formed electronically but executed when printed and signed.
C)ESIGN affirms e-contracts as legally valid.
D)ESIGN is international law.
E)ESIGN stands for the Electronic Signing In Great Numbers.
Q3) Any contract that is not a formal contract is an informal contract,also called a simple contract.
A)True
B)False
Q4) Define a bilateral contract and a unilateral contract,and give an example of each.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Agreement
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74819
Sample Questions
Q1) When considering whether an offer has expired,what is presumed to be a reasonable amount of time?
A)Ten days.
B)Seven days.
C)Forty-eight hours.
D)Forty-five days.
E)There is no set amount of time,and what constitutes a reasonable amount of time varies depending upon the subject matter of the offer.
Q2) What is the most likely result in Edwin's lawsuit against Brandi in which he claims that she must pay $3,000 for the car at issue?
A)Edwin will win because Brandi made an offer that he properly accepted.
B)Brandi will win because she was not provided sufficient time in which to consider the offer.
C)Brandi will win because the agreement was not put into written form and signed by both parties.
D)Edwin will win because Brandi agreed to pay a reasonable amount for the vehicle.
E)Brandi will win because she merely expressed interest and did not make an offer.
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: Consideration
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74820
Sample Questions
Q1) Sameer promises his uncle,Farouk,that he will study every day and earn straight A's during the spring semester in exchange for having his tuition paid for the fall semester.Farouk agrees,but after Sameer studies all semester and receives straight A's,Farouk refuses to pay,saying that no such contract ever existed.Which of the following is true?
A)There was no consideration present,but Farouk must pay under principles of promissory estoppels.
B)There was no consideration present,and Farouk has no obligation to pay.
C)Consideration was present,there was an enforceable contract,and Farouk has wrongfully refused to pay.
D)There was consideration present,but Farouk is not required to pay because he did not receive a benefit personally.
E)There was consideration present,but Farouk is not required to pay because the contract was illusory.
Q2) An illusory promise is not consideration.
A)True
B)False
Q3) Define and discuss promissory estoppel,and give an example of when it would be applied.
To view all questions and flashcards with answers, click on the resource link above.
Page 17
Chapter 16: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74821
Sample Questions
Q1) Is Roland required to pay for the training program?
A)No,although the training program was legal,the contract contains an illegal subject and is void.
B)Although the contract was legal when formed,its subject later became illegal under a new statute,thus both parties are discharged from their obligations under the contract.
C)Although the contract was legal when formed,its subject later became illegal under a new statute,thus it is voidable by either party.
D)Yes,the training program was legal and the legal part of the contract can be severed from the illegal part.
E)Yes,only Parna has the right to void the contract.
Q2) If Briana subsequently obtains a valid license,would her agreement with Nedra be enforceable?
A)Yes,because the contract can be severed.
B)Yes,but only if she pays the licensing fee.
C)No,because employment contracts cannot be severed.
D)Yes,but only if Nedra did not deem the contract voidable.
E)No,because the agreement was illegal and is void.
Q3) Explain Great Britain's approach to the age of majority.
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Legal Assent
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74822
Sample Questions
Q1) Madison purchased a three-year-old computer from Kami for $300.Kami told her the price seemed fair but she really had no idea what it was worth and just wanted to get rid of it.Madison,who knew little about computers,thought she had a great deal.After Madison returned home,she discovered from a computer expert friend of hers that the computer was not worth as much as she believed.Madison wanted to return the computer claiming that they were both mistaken about value,but Kami said,"No way!" Who should win in the dispute between Madison and Kami and why?
A)Kami should win because Madison's unilateral mistake does not void the contract.
B)Kami should win because mistaken beliefs about the subjective value of an item do not affect the validity of a contract.
C)Madison should win because there was a mistake of fact at the time the contract was entered.
D)Madison should win because mistaken beliefs about the subjective value of an item can affect the validity of a contract.
E)Madison should win because there was a unilateral mistake of fact.
Q2) What is the purpose of the concept of legal assent?
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 18: Contracts in Writing
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74823
Sample Questions
Q1) What type of contract falls within the scope of the statute of frauds?
A)Contracts involving the provision of any goods
B)Contracts involving the provision of services
C)Contracts involving any debt
D)Contracts whose terms prevent possible performance within one year
E)Contracts involving services in relation to computer equipment
Q2) What are the eight exceptions to the parol evidence rule?
Q3) Does the agreement to purchase the bicycles for $100 each fall outside the statute of frauds and,thus,would likely be enforceable against Milton?
A)No,because the agreement is for the sale of goods over $500,which is within the statute of frauds and must be in writing.
B)Yes,because the contract can be performed within one year.
C)Yes,because the agreement involved the lease of goods,which need not be in writing.
D)No,because the agreement involved the lease of goods and must be in writing.
E)Yes,because the agreement is for the sale of goods under $500,which need not be in writing.
Q4) Describe the three main purposes of the statute of frauds,as discussed in the text.
To view all questions and flashcards with answers, click on the resource link above.
20
Chapter 19: Third-Party Rights to Contracts
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74824
Sample Questions
Q1) List and discuss two reasons why notice of assignment should be given.
Q2) What tests do the courts use to determine whether a party is an intended or incidental beneficiary?
Q3) Which of the following is true regarding the rights of an incidental beneficiary to a contract to sue to recover incidental rights?
A)An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary was once a creditor beneficiary.
B)An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary is also a second-party beneficiary.
C)An incidental beneficiary cannot sue to enforce a contract which provided incidental benefits.
D)An incidental beneficiary may sue to enforce incidental contractual rights so long as those rights have vested.
E)An incidental beneficiary may sue to enforce incidental contractual rights only if the incidental beneficiary was once a donee beneficiary.
Q4) List four situations under which contractual rights cannot be assigned.
To view all questions and flashcards with answers, click on the resource link above.
21
Chapter 20: Discharge and Remedies
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74825
Sample Questions
Q1) Caroline goes to work for a soft drink company who own a proprietary recipe.She signs a non-disclosure agreement.When she is fired,she threatens to go public with the company's recipe.The company wants to stop her.They should seek an)________.
A)Order for specific performance
B)Demand
C)Directive
D)Instructional edict
E)Injunction
Q2) Liquidated damages will be enforced based upon the free-will concept of contracts,even if the liquidated damages amount is unreasonable.
A)True
B)False
Q3) The provision that the seller will release Jacob unless he is able to obtain a loan is a
A)An exculpatory condition
B)A condition subsequent
C)A condition concurrent
D)A condition precedent
E)A bona fide condition
To view all questions and flashcards with answers, click on the resource link above.
Page 22
Chapter 21: Introduction to Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74826
Sample Questions
Q1) The most important focus of the UCC in determining contract formation is the intent of the parties to be bound by the contract.
A)True
B)False
Q2) Under Article 2A.of the UCC,what is the correct term for a person who transfers the right to possession and use of goods under a lease?
A)Lessee
B)Acquirer
C)Buyer
D)Seller
E)Lessor
Q3) When Article 2 is silent on an issue of sales contract formation or interpretation and there is no state statutory law in place on that matter,which law applies?
A)The civil law rules
B)Federal common law
C)Federal statutory law
D)The common law rules
E)The Uniform Sales Act
To view all questions and flashcards with answers, click on the resource link above.
Chapter 22: Title,risk of Loss,and Insurable Interest
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74827
Sample Questions
Q1) Which of the following is held when someone unknowingly purchases stolen goods?
A)Substantiated title
B)Voidable title
C)Void title
D)Examined title
E)Good title
Q2) What type of contract does Cleo have with Kool Klothes?
A)Simple Delivery Contract
B)Goods In Bailment Contract
C)Sale-On-Approval Contract
D)Common Carrier Delivery Contract
E)Sale-Or-Return Contract
Q3) In a conditional sales contract,a contract is a ________ if the seller allows the buyer to take possession of the goods before deciding whether to complete the contract by making the purchase.
A)Sale-on-approval contract
B)Condition-or-sale contract
C)Return-or-purchase
D)Sale-or-return contract
E)Return-or-sale
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 23: Performance and Obligations Under Sales and Leases
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74828
Sample Questions
Q1) Which statement is true regarding both the UCC and common law with regard to conforming and nonconforming goods?
A)The perfect tender rule recognizes the distinction between material and immaterial contractual requirements.
B)Under the UCC and common law,if goods fail in any respect to conform to the contract,the buyer has the right to accept the goods,reject the entire shipment,or accept part and reject part.
C)Under common law,if goods fail in any respect to conform to the contract,the buyer has the right to accept the goods,reject the entire shipment,or accept part and reject part.
D)Common law usually substitutes perfect tender with the doctrine of substantial performance.
E)Both the UCC and common law recognize the distinction between material and immaterial contractual requirements.
Q2) Define "course of performance," and discuss its relationship to decisions regarding whether goods conform to contract specifications.
To view all questions and flashcards with answers, click on the resource link above. Page 25
Chapter 24: Remedies for Breach of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74829
Sample Questions
Q1) Fred's Fireplaces enters into a contract with Miguel's Patio Supply in which Miguel's agrees to purchase 20 fireplaces.Miguel fails to pay and Fred's Fireplaces cancels the contract.Fred's does not notify Miguel.Did Fred's Fireplaces act appropriately?
A)No,because the UCC requires sellers to notify buyers of a cancellation if the seller cancels the contract due to a breach.
B)Yes,because a seller always has a right to cancel a contract before performance is due.
C)No because cancelling a contract is never appropriate.
D)No because a contract can be cancelled in the event of breach only if the contract is for at least 50 units of goods.
E)No because filing a lawsuit is required before cancelling a contract.
Q2) A buyer may not seek damages if the buyer has accepted nonconforming goods.
A)True
B)False
Q3) The UCC outlaws a statute of limitations for bringing a lawsuit arising under a breach of contract for a sale of goods.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: Warranties
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74830
Sample Questions
Q1) The Magnuson-Moss Act requires a full warranty on the sale of goods.
A)True
B)False
Q2) Under the Magnuson-Moss Act,what is the effect of a full warranty?
A)It means that the buyer must be immediately refunded the full purchase price.
B)It means that the buyer has the option of an immediate refund of the full purchase price or repair of the good.
C)It means only that the good or its defective part will be repaired.The buyer has no other remedy.
D)It means that if the good fails or is defective,the good or its defective part will be replaced;and if replacement cannot be timely effected,the buyer has the right to a refund or a full replacement.
E)It means that the good or its defective part will be repaired or replaced if it cannot be repaired.The buyer has no other remedy.
Q3) If a buyer fails to comply with the statute of limitations,there is a waiver of warranty rights.
A)True
B)False
Q4) List the exceptions to title warranties.
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Negotiable Instruments: Negotiability and Transferability
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74831
Sample Questions
Q1) In order to satisfy the requirement of negotiability that payment be at a time certain or on demand,acceleration of payment is not allowable.
A)True
B)False
Q2) Which of the following is true regarding simple contracts as compared to negotiable instruments?
A)Simple contracts may be assigned to an assignee or negotiated to a holder while negotiable instruments may only be negotiated to a holder in due course.
B)Simple contracts may be assigned to a holder while negotiable instruments may not be assigned or negotiated.
C)Simple contracts may be assigned to an assignee or negotiated to a holder while negotiable instruments may only be negotiated to a holder.
D)Simple contracts may not be assigned while negotiable instruments may be negotiated to holder.
E)Simple contracts are assigned to an assignee,while negotiable instruments are negotiated to a holder.
Q3) List the seven requirements for an instrument to be negotiable.
To view all questions and flashcards with answers, click on the resource link above.
Page 28
Chapter 27: Negotiation, holder in Due Course, and Defenses
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74832
Sample Questions
Q1) What type of endorsement did Jenna make on the back of the check?
A)A special qualified endorsement.
B)A blank endorsement.
C)A special endorsement.
D)A blank qualified endorsement.
E)An ineffective endorsement because the words "without recourse" have no effect.
Q2) An instrument that becomes overdue at any time after the expressed due date on it is which type of instrument?
A)Dishonored instrument.
B)Overdue instrument.
C)Altered instrument.
D)Demand instrument.
E)Time instrument.
Q3) Which of the following are types of unqualified endorsements?
A)Allonge and blank.
B)Allonge and special.
C)Qualified and special.
D)Blank and special.
E)Qualified and blank.
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 28: Liability, defenses, and Discharge
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74833
Sample Questions
Q1) Carl,without Austin's knowledge,impersonates Austin and thereby convinces Lucía,who has never seen Austin,to write a check to Austin for upcoming yard work.Carl then forges Austin's name and deposits the check into his,Carl's,account.Which of the following is true regarding whether Lucía will be liable for the amount of the check?
A)Under the fictitious payee rule,Lucía will not be held liable.
B)Under the imposter rule,Lucía will be held liable.
C)Under the transferor rule,Lucía will be held liable.
D)Under the payee rule,Lucía will be held liable.
E)Under the forgery rule,Lucía will be held liable.
Q2) Set forth the eight real defenses and explain their significance.
Q3) If Kyoko makes a proper tender of the full payment of $1,000 due on Patrick's note on the note's due date,but Patrick improperly refuses to accept the money,any endorsers are discharged from liability.
A)True
B)False
Q4) A party who is primarily liable for an instrument must pay without resorting to any other party.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Checks and Electronic Fund Transfers
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74834
Sample Questions
Q1) A[n] ________ is an institution created to facilitate the exchange of checks and drafts drawn by banks on one another,as well as to enable banks to settle their daily balances.
A)Acknowledging institution
B)Approval institution
C)Facilitating institution
D)Transferring institution
E)Clearinghouse
Q2) Which of the following is true about electronic check presentment?
A)The UCC is silent as to electronic check presentment.
B)It is not possible process checks on the day of deposit.
C)The individual who encodes the information from the check does not need to warrant that the information is correct.
D)Banks may transmit substitute checks,instead of the actual checks,for payment between banks.
E)Only the actual check may be transmitted for payment between banks.
Q3) Checks are considered by many in the business community to be the near equivalent of cash.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 31
Chapter 30: Secured Transactions
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74835
Sample Questions
Q1) For how long is a financing statement valid under the UCC,once the statement has been filed with a correct agency?
A)1 year
B)2 years
C)3 years
D)4 years
E)5 years
Q2) Which of the following is a writing that indicates both a monetary obligation and a security interest in specific goods?
A)Transactional paper.
B)Specific interest paper.
C)Chattel paper.
D)Combined paper.
E)Monetary and secured paper.
Q3) Value is consideration,according to the UCC.
A)True
B)False
Q4) Regarding protection in movable collateral that is moved from one state to another,what does the UCC provide?
To view all questions and flashcards with answers, click on the resource link above. Page 32
Chapter 31: Other Creditors Remedies and Suretyship
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74836
Sample Questions
Q1) By which of the following is a mechanic's lien created?
A)Acknowledgement
B)Mortgage
C)Consent
D)Statute
E)Foreclosure
Q2) Which of the following is a claim to property in which the lienholder has the right to be in possession of the property until the debt is paid?
A)Possessory lien
B)Common law lien
C)Consummate lien
D)Attorney's lien
E)Denial lien
Q3) The agreement entered into between Sean and the bank is called what?
A)An acknowledged agreement
B)A certified agreement
C)A guaranty
D)A suretyship
E)An executory promise
To view all questions and flashcards with answers, click on the resource link above.
Page 33
Chapter 32: Bankruptcy and Reorganization
Available Study Resources on Quizplus for this Chatper
85 Verified Questions
85 Flashcards
Source URL: https://quizplus.com/quiz/74837
Sample Questions
Q1) A bank cannot continue to try to repossess a vehicle from a debtor who has filed for bankruptcy because of the ________.
A)An automatic stay
B)A stop order
C)A semi-automatic dismissal
D)A semi-discharge
E)There is no such moratorium in a Chapter 7 proceeding
Q2) Which of the following does NOT fall under an exception to the automatic stay?
A)Legal actions to collect alimony payments.
B)The debtor was a debtor in a bankruptcy case dismissed within a year of the current bankruptcy case filing.
C)Creditors who are involved in repossession proceedings.
D)Secured creditors who do not have adequate protection under the stay.
E)Legal actions to determine paternity or collect child support.
Q3) Legal actions against a debtor can continue after a bankruptcy petition is filed.
A)True
B)False
Q4) What are the two general goals of bankruptcy laws as set forth in the text?
Q5) List the set of procedures that must be taken in every bankruptcy case.
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 33: Agency Formation and Duties
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74838
Sample Questions
Q1) Which of the following is false regarding the duties a principal owes to an agent?
A)The principal owes a duty of cooperation to the agent.
B)The principal can do nothing to interfere with the reasonable conduct of an agent.
C)The principal must assist the agent in the performance of his or her duties.
D)The duty of reimbursement applies to employees only,not to independent contractors.
E)The principal has a duty to provide safe working conditions for an agent.
Q2) Which of the following is the most common form of agency?
A)Implied agency
B)Endorsement
C)Expressed agency
D)Ratification
E)Apparent agency
Q3) The law assumes that the principal is aware only of information actually provided to the principal by the agent.
A)True
B)False
Q4) When must agency agreements be in writing?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 34: Liability to Third Parties and Termination
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74839
Sample Questions
Q1) While making a delivery,Elliott,a delivery driver for Sira's Sandwiches,went through the drive through at a local restaurant to get a cup of coffee and bumped into the car in front of him resulting in some damage to the car's bumper.Which of the following is true regarding the liability of Sira's Sandwiches for the damage to the car?
A)As a matter of law,Sira's Sandwiches is not liable because Elliott was acting on his own behalf.
B)As a matter of law,Sira's Sandwiches is not liable because only property damage is involved.
C)Whether or not Sira's Sandwiches is liable depends on how long Elliott has worked for the company.
D)Whether or not Sira's Sandwiches is liable depends on whether Elliott's acts are seen as substantial departure from his work.
E)As a matter of law,Sira's Sandwiches is liable because a company is liable for any torts committed by an employee during working hours.
Q2) The principal may terminate an agency coupled with an interest.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 36
Chapter 35: Forms of Business Organization
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74840
Sample Questions
Q1) In which of the following does the franchise operate under the franchisor's business name and act subject to the franchisor's standards and methods of business operation?
A)Manufacturing arrangement
B)Distributorship
C)Approved business franchise
D)Acknowledged standards operation
E)Chain-style business operation
Q2) Which of the following statements is false regarding a general partnership?
A)It is easy to create.
B)The partners are considered agents of the partnership.
C)Business losses can be deducted from taxes.
D)Income of the business is personal income.
E)In most cases partners do not have personal liability for losses.
Q3) Cooperatives must be incorporated.
A)True
B)False
Q4) A limited partnership is usually not affected by the death of a limited partner.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 37
Chapter 36: Partnerships: Nature, formation, and Operation
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74841
Sample Questions
Q1) Is Kenya's statement that a written agreement is not necessary to set up a partnership correct?
A)No,she is incorrect only if none of the partners have experience with the partnership form of business.
B)Yes,she is correct.
C)Yes,she is correct,but only because three or fewer members are involved.
D)No,she is incorrect,but only because fewer than five members are involved.
E)Yes,she is correct only if all partners are considered sophisticated investors.
Q2) Almost any individual or group of people can serve as a partner.
A)True
B)False
Q3) In a partnership,every partner is considered to be an agent.
A)True B)False
Q4) Only the partnership agreement determines the implied authority of partners. A)True
B)False
Q5) Describe the liability,if any,of incoming partners.
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 37: Partnerships: Termination and Limited Partnerships
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74842
Sample Questions
Q1) In general,members of LLCs execute an agreement at the time of the LLC's formation,however,members of limited partnerships do not.
A)True
B)False
Q2) A limited partnership is an agreement between at least ________ general partner[s] and at least ________ limited partner[s].
A)2;3
B)5;5
C)5;3
D)2;2
E)1;1
Q3) ________ is the term for the activity of completing unfinished partnership business,collecting and paying debts,collecting partnership assets,and taking inventory.
A)Delineating
B)Closing up
C)Terminating
D)Reallocating
E)Winding up
To view all questions and flashcards with answers, click on the resource link above. Page 39
Chapter 38: Corporations: Formation and Financing
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74843
Sample Questions
Q1) If Callie sues Min-ji,Marcus,and Penelope for unpaid amounts without a novation in place,what would be the most likely result?
A)Min-ji,Marcus,and Penelope will win so long as they can prove that Callie knew that the feed was purchased for a new corporation and not for their personal farm use.
B)Callie would likely win unless it can be established that the new corporation is making a profit and is able to pay her.
C)Callie would likely win because courts generally hold promoters liable and rule that preincorporation contracts do not bind the new corporation.
D)Callie would likely win unless it can be established that the new corporation was capitalized with at least $100,000 and is able to pay her.
E)Min-ji,Marcus,and Penelope will win unless they have already paid partial amounts leading Callie to expect that they,not the corporation,had accepted liability.
Q2) What are the two implied corporate powers,as set forth in the text?
Q3) Corporations do not exist separately from their shareholders.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 40
Chapter 39: Corporations: Directors, officers, and Shareholders
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74844
Sample Questions
Q1) If the corporate bylaws require a minimum of five directors to be present at each directors meeting,what happens if only two directors attend and they make a decision?
A)The decision is invalid because a quorum was lacking.
B)The decision is invalid because the directors did not have authority to vote
C)The decision is invalid unless shareholders vote to ratify
D)The decision is valid
E)The decision is invalid because of a violation of the business judgment rule
Q2) Which of the following is true of the business judgment rule?
A)It protects directors and officers from ever being held accountable for bad decisions.
B)It protects shareholders.
C)It encourages individuals to serve as directors.
D)It is an exception to the fiduciary duty of board members.
E)It applies in insider trading cases.
Q3) There are two types of self-dealing in which officers and directors might engage.List and describe both types,as well as the penalty for doing so.
Q4) Which groups owe a duty of care to the corporation,and what does that duty require?
To view all questions and flashcards with answers, click on the resource link above. Page 41
Chapter 40: Corporations: Mergers, consolidations, terminations
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74845
Sample Questions
Q1) If Calvin and Daniella cannot reach an agreement with the corporation,how is the value of their shares determined?
A)By vote of the Board of Directors of GamePower.
B)By vote of the shareholders of GamePower.
C)The Secretary of State of the state where GamePower is incorporated will intervene to determine the shares' value.
D)A court may intervene to establish the shares' value.
E)The FCC is required to establish the shares' value.
Q2) Which of the following statements is true about procedures for appraisal rights of dissenting shareholders?
A)Depending on the jurisdiction,dissenting shareholders may be stripped of their rights,including the right to vote.
B)Dissenting shareholders need only express their dissent,the procedures do not need to be strictly followed.
C)Shareholders who lose their legal status also lose their right to sue.
D)The procedures governing appraisal rights are minimal.
E)The legal status of dissenting shareholders never changes.
To view all questions and flashcards with answers, click on the resource link above.
Page 42
Chapter 41: Corporations: Securities and Investor Protection
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74846
Sample Questions
Q1) Securities may be sold during the prefiling period.
A)True
B)False
Q2) What is a proxy solicitation and how is it regulated by the SEC?
Q3) Government did not regulate securities prior to the Great Depression,and fraudulent transactions were common.
A)True
B)False
Q4) Which of the following prohibits the use of manipulative devices to bypass SEC rules under the 1934 act?
A)Rule 25.
B)Section 5
C)Section 10b.
D)Section 15a.
E)Rule 2
Q5) Laws that regulate interstate securities are called blue-sky laws.
A)True
B)False
Q6) List the four major responsibilities of the SEC as set forth in the text.
Q7) Describe what a registration statement filed with the SEC generally contains.
To view all questions and flashcards with answers, click on the resource link above. Page 43
Chapter 42: Employment and Labor Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74847
Sample Questions
Q1) If a person is employed by a spouse or parent,the National Labor Relations Board holds no jurisdiction over them.
A)True
B)False
Q2) Does Kayla's failure to contact DesignCo until two days after her leave began constitute inadequate notice under the FMLA?
A)Yes,the employee must provide notice of leave at least twenty-four hours in advance of the leave.
B)No,if the leave is unforeseeable,the employee must give notice as soon as practicable,defined as within twenty-four hours after the need becomes known.
C)Yes,the employee must provide notice of leave at least 30 days in advance of the leave.
D)Yes,if the leave is unforeseeable,the employee must give notice as soon as the need for leave becomes known.
E)No,if the leave is unforeseeable,the employee must give notice as soon as practicable,defined as within one or two business days after the need becomes known.
To view all questions and flashcards with answers, click on the resource link above. Page 44
Chapter 43: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74848
Sample Questions
Q1) In the case of Seth,what type of harassment,if any,were Astrid's caresses and suggestive statements?
A)Quid pro quo.
B)Targeted.
C)Hostile work environment.
D)Sexual discrimination.
E)None because she did not touch him in an inappropriate way.
Q2) In response to a plaintiff's prima facie case of discrimination based on disparate treatment,what burden does the defendant have?
A)The defendant does not have a burden,as it is the plaintiff's duty to establish his or her case.
B)The defendant must show that the alleged "business necessity" is not a mere pretext.
C)The defendant must articulate why the policy or practice is a "business necessity."
D)The defendant must articulate a legitimate,nondiscriminatory business reason for the action.
E)The defendant must articulate a reasonable business reason for the action.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 44: Administrative Law
Available Study Resources on Quizplus for this Chatper
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/74849
Sample Questions
Q1) Which of the following is the correct term for legislation passed by Congress specifying the name,functions,and specific powers of the Animal Protection Commission?
A)Enabling legislation
B)Agency regulation
C)Enacting legislation
D)Approving legislation
E)Administrative regulation
Q2) Which of the following acts requires that agency business meetings be open to the public when a quorum is present and if the agency is headed by a collegiate body?
A)The Open Meetings Act
B)The Freedom of Information Act
C)The Open Door Act
D)The Government in Sunshine Act
E)The Privacy Act of 1974
Q3) Formal rule making is also called notice-and-comment rule making.
A)True
B)False
Q4) Set forth the stages of informal rule making.
To view all questions and flashcards with answers, click on the resource link above. Page 46
Chapter 45: Consumer Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74850
Sample Questions
Q1) After an FTC complaint,if the judge decides the company has violated the law,the FTC issues a consent order.
A)True
B)False
Q2) The Equal Credit Opportunity Act makes it illegal for creditors to deny credit to individuals on the basis of ________.
A)Race,religion,color,sex,marital status,or age
B)Race,religion,national origin,color,or sex
C)Race,national origin,color,sex,marital status,or age
D)Race,religion,national origin,color,sex,or age
E)Race,religion,national origin,color,sex,marital status,or age
Q3) A statement in which a company agrees with the Federal Trade Commission to stop disputed behavior but does not admit it broke the law is known as which of the following?
A)Command order
B)Consent order
C)Agreed stoppage
D)Approved acknowledgement
E)Agreed order
Q4) What is required by the Telemarketing Sales Rule of 1995?
Page 47
To view all questions and flashcards with answers, click on the resource link above.
Chapter 46: Environmental Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74851
Sample Questions
Q1) Which of the following enforces the Resource Conservation and Recovery Act?
A)The Hazardous Response Commission
B)The Environmental Waste Agency
C)The Hazardous Waste Administration
D)The Clean Earth Foundation
E)The Environmental Protection Agency
Q2) The National Environmental Policy Act NEPA)was one of the first major environmental laws enacted by the United States.
A)True
B)False
Q3) Assuming that Sean's company is engaged in pollution,which of the following identifies the source?
A)Specified
B)Point
C)Identified
D)Standard
E)Specific
Q4) List the two primary functions served by the National Environmental Policy Act and set forth the responsibilities of the Council on Environmental Quality.
To view all questions and flashcards with answers, click on the resource link above. Page 48
Chapter 47: Antitrust Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74852
Sample Questions
Q1) What does a judge consider when conducting a rule-of-reason analysis?
Q2) In enacting the Sherman Act,Congress did not specify which specific behaviors were prohibited.
A)True
B)False
Q3) Which of the following references the type of conglomerate merger that occurs when a firm attempts to extend the market for one of its current products by merging with a firm already active in the target market?
A)Diversification target
B)Market extension
C)Product extension
D)Vertical extension target
E)Horizontal extension
Q4) Bid rigging has recently been removed from the category of price fixing,and is therefore legal.
A)True
B)False
Q5) Please list what constitutes a violation of Section 1 of the Sherman Act.
Q6) Contrast traditional antitrust theories with the Chicago School theories.
Page 49
To view all questions and flashcards with answers, click on the resource link above.
Chapter 48: The Nature of Property, personal Property, and Bailments
Available Study Resources on Quizplus for this Chatper
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/74853
Sample Questions
Q1) By law,a document of title may not be negotiable.
A)True
B)False
Q2) Gifts made during someone's lifetime and not made in contemplation of death are referred to as:
A)Causa mortis gifts
B)Inter vivos gifts
C)Conditional gifts
D)Sustainable gifts
E)In rem gifts
Q3) Which of the following items would best be characterized as a "fixture?"
A)The free-standing appliances in the farmer's kitchen,such as the refrigerator.
B)The intangible elements connected with and owned by the farmer,such as the value of her equipment and the equity in the property.
C)A tractor owned by a farmer and stored in her barn.
D)A camper that was originally used for cross-country travel,but which is now permanently attached to a cement foundation on the farmer's land.
E)A barn constructed on the land after the land was initially purchased by the farmer.
To view all questions and flashcards with answers, click on the resource link above. Page 50
Chapter 49: Real Property
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/74854
Sample Questions
Q1) Under which of the following circumstances would a landlord be permitted to enter the leased property during the term of a lease?
A)The landlord is allowed to enter the leased property only in emergency situations.
B)The landlord is allowed to enter the leased property in an emergency or with a certified contractor to make necessary repairs.
C)The landlord is allowed to enter the leased property in an emergency,when the tenant have given permission to make repairs,or near the end of the leasehold for the purpose of showing the property to a potential new tenant.
D)The landlord is allowed to enter the leased property in an emergency,when the tenant have given permission to make repairs,with a certified contractor for the purpose of refurbishing the property,or near the end of the leasehold for the purpose of showing the property to a potential new tenant.
E)A lease cannot exclude a landlord from having access to the property during the term of the lease.
Q2) What must a properly drafted deed include?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 50: Landlord-Tenant Law
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/74855
Sample Questions
Q1) Which of the following is a clause in a lease agreement allowing the landlord to increase the rent in association with increases in costs of living,property taxes,or the tenant's commercial business?
A)An inflation clause
B)A cost clause
C)A rent escalation clause
D)A landlord protection clause
E)A rent expense agreement
Q2) Can Jeri refuse to rent to Willa and Jessica because of their race?
A)Yes,the Fair Housing Act only covers actual tenants,not prospective tenants.
B)No,Willa and Jessica can bring suit against Jeri under the Fair Housing Act for discrimination.
C)No,Willa and Jessica's remedy is to complain to their local city council.
D)Yes,as long as Jeri assists in finding them adequate and comparable housing.
E)Yes,although the Fair Housing Act prohibits a landlord from discriminating on the basis of race,color,disability,and national origin,religion is not a protected classification.
Q3) An eviction may only be full,not partial.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 52
Chapter 51: Insurance Law
Available Study Resources on Quizplus for this Chatper
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/74856
Sample Questions
Q1) If a person who is in good health lies about their age on a life insurance application and the misrepresentation is discovered at the time of the person's death,what is usually the effect?
Q2) Regarding the reduction of the impact of moral hazard by insurers,which of the following is true?
A)Insurance companies lessen the impact of moral hazard by requiring that individuals with insurance make co-payments or pay a deductible.
B)The only avenue for insurers seeking to reduce moral hazard is through the use of deductibles.
C)It is not possible for insurers to reduce the risk of moral hazard,and this is seen as a risk of doing business.
D)The only avenue for insurers seeking to reduce moral hazard is through refusing to insure those who have previously made multiple insurance claims.
E)Insurers refuse to pay claims believed to result from the effects of moral hazard.
Q3) What is an incontestability clause in a policy of insurance,and what is its effect? Discuss whether you believe that ethically these clauses should be required of insurers.
To view all questions and flashcards with answers, click on the resource link above. Page 53
Chapter 52: Wills and Trusts
Available Study Resources on Quizplus for this Chatper
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/74857
Sample Questions
Q1) Calvin's only daughter,Bianca,married Jeremy,a young man that Calvin intensely disliked.Calvin believes that Bianca and Jeremy will divorce,but perhaps not before Calvin's death.Calvin would like to prevent Jeremy from obtaining any stock in Calvin's company.What should Calvin consider?
Q2) Who will be the primary beneficiary of Mark's estate,Karen or John?
A)John,because even though a codicil may be handwritten,it is invalid unless the first will is destroyed.
B)Karen,because he attached the cutting board codicil to the will,and that makes it controlling.
C)John,because the judge couldn't read the writing on the cutting board.
D)Karen,because the cutting board codicil meets all the requirements of a valid will.
E)John,because a codicil must be on paper,it was ineffective to change the will.
Q3) The Uniform Anatomical Gifts Act UAGA)provides that any individual age 21 or older may give all or any part of his or her body to a donee on death so long as the closest surviving next-of-kin does not object.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 54