Corporate Law Practice Questions
Course Introduction
Corporate Law examines the legal framework governing the formation, operation, and dissolution of corporations. This course covers topics such as corporate structure, governance, directors duties, shareholder rights, mergers and acquisitions, and regulatory compliance. Students explore case law, statutes, and practical applications related to corporate finance, fiduciary obligations, and corporate liability, gaining a comprehensive understanding of how law shapes corporate activity in both domestic and international contexts.
Recommended Textbook
Business Law Text and Cases 14th Edition by Kenneth
W. Clarkson
Available Study Resources on Quizplus
61 Chapters
3772 Verified Questions
3772 Flashcards
Source URL: https://quizplus.com/study-set/1152 Page 2
Chapter 1: Law and Legal Reasoning
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22563
Sample Questions
Q1) Dave and Ellen enter into a contract via e-mail. When a dispute arises over the performance of the deal, Dave files a suit against Ellen. The emerging body of law that governs transactions conducted via the Internet is referred to by the term
A) cyberlaw.
B) civil law.
C) equitable maxims.
D) IRAC.
Answer: A
Q2) Zoom In, Inc. is engaged in the business of coding, with an emphasis on Internet marketing, business apps, and intra-corporate networks. In all of Zoom In's business activities, it is subject to United States laws and regulations. The basis for all law in the U.S. is
A) the U.S. Constitution.
B) each of the states' individual constitutions.
C) legislation enacted by Congress.
D) the executive orders of the president.
Answer: A
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22564
Sample Questions
Q1) Marty files a suit against Norah in a state court over an employment contract. The case proceeds to trial, after which the court renders a verdict. The case is appealed to an appellate court. After the highest state court's review of Marty v. Norah, a party can appeal the decision to the United States Supreme Court if
A) if a federal question is involved.
B) if a question of state law remains unresolved.
C) if Marty questions the result.
D) under no circumstances.
Answer: A
Q2) Arbitration that is mandated by a court is often binding on the parties.
A)True
B)False
Answer: False
Q3) Most online dispute resolution services apply international principles promulgated by the United Nations to resolve disputes.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
4
Chapter 3: Court Procedures
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22565
Sample Questions
Q1) Procedural law is irrelevant with respect to a person's ability to pursue a legal claim.
A)True
B)False
Answer: False
Q2) Only a defendant may file a motion for summary judgment.
A)True
B)False Answer: False
Q3) Either party may appeal a jury's verdict but only the plaintiff may appeal a judge's ruling.
A)True
B)False
Answer: False
Q4) Service of process is the process of obtaining information from an opposing party before trial.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Business and the Constitution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22566
Sample Questions
Q1) A law that has any impact on religion is unconstitutional.
A)True
B)False
Q2) The Wisconsin state legislature enacts a statute that prohibits the advertising of video games "because the games might be harmful to minors." Despite this new statute, the president of xGamez, Inc., orders xGamez marketers to place ads in various media. When an xGamez ad appears on YUTV, a local television station, xGamez and YUTV are charged with violating the statute. What is the defendants' best defense against a conviction?
Q3) The police obtain a search warrant and search Jordan's apartment. After yelling obscenities at the officers, Jordan confesses to a crime and implicates his friends. The Constitution protects against
A) obscene speech.
B) implication of others.
C) unreasonable searches.
D) none of the choices.
Q4) The establishment clause requires a complete separation of church and state.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Business Ethics
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22567
Sample Questions
Q1) Morgan and other executive officers of Regional Economic Development Associates, Inc., apply the utilitarian theory of ethics in business contexts. Utilitarianism focuses on A) moral values.
B) religious beliefs.
C) the consequences of an action.
D) the nature of an action.
Q2) Acting in good faith gives a business firm a better chance of defending its actions in court.
A)True
B)False
Q3) Corporations can be viewed as "citizens" that are expected to participate in bettering society.
A)True
B)False
Q4) In a corporation, managers are often faced with ethical trade-offs when a certain decision will benefit one group, but harm another.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 6: Tort Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22568
Sample Questions
Q1) David trespasses on Expo Corporation's property. Through the use of reasonable force, Expo's security guard detains David until the police arrive. Expo is liable for A) assault.
B) battery.
C) false imprisonment.
D) none of the choices.
Q2) Dixie, a driver for Express Delivery Company, leaves the truck's motor running in neutral and carelessly forgets to set the parking brake while she makes a delivery. The truck rolls and crashes into a nearby gas station pump, igniting a fire that spreads quickly to a construction site a block away. A burned wall collapses onto a crane, which falls on Fazio, a bystander, and injures him. What must Fazio show to recover damages from Express Delivery?
Q3) Robin is a spectator at State Tennis Tournament, an athletic competition. Regarding the risk of injury, Robin assumes the risks
A) attributable to the tournament in any way.
B) different from the risks normally associated with the tournament.
C) greater than the risks normally associated with the tournament.
D) normally associated with the tournament.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Strict Liability and Product Liability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22569
Sample Questions
Q1) Saki, an air conditioning and heating technician, files a suit against Temp-Set Corporation, alleging that its thermostats are unreasonably dangerous due to the possibility of electrical shock. Temp-Set's best defense is most likely
A) assumption of risk.
B) knowledgeable user.
C) commonly known danger.
D) none of the choices.
Q2) To be liable for product liability, a seller must normally be engaged in the business of distributing the product that causes harm by its use.
A)True
B)False
Q3) A statute of limitations may restrict the time within which an action in product liability may be brought.
A)True
B)False
Q4) The extreme risk of an activity is a defense against imposing strict liability.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Intellectual Property Rights
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22570
Sample Questions
Q1) Counterfeit goods are in fact sometimes genuine.
A)True
B)False
Q2) Patent infringement occurs only if all features or parts of a product are copied.
A)True
B)False
Q3) Trade names have the same legal protection as trademarks.
A)True
B)False
Q4) A patent applicant must demonstrate that an invention is marketable to receive a patent.
A)True
B)False
Q5) Hua plots a new Iron Man adventure and carefully and skillfully imitates the art of Marvel Comics to create an authentic-looking Iron Man graphic novel. Hua is not affiliated with the owners of the copyright to Iron Man. Can Hua publish the novel as his own work without infringing on the owners' copyright?
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: Internet Law, Social Media, and Privacy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22571
Sample Questions
Q1) "Dawn" is a song included in the sound track of "eDay," a movie produced and distributed by FasTrac Corporation. The song features a digital sampling of a few seconds of the guitar solo of one of George Harrison's copyrighted sound recordings without permission. Does this digital sampling constitute copyright infringement on the part of FasTrac? Explain.
Q2) Keisha is an employee of Leeway Corporation. She uses social media in a way that violates her employer's stated social media policies. Leeway first disciplines its employee and then, after a second transgression, fires her. This is
A) a violation of Keisha's rights as an employee.
B) within Leeway's rights as an employer.
C) a subject for dispute resolution by the social media that Keisha used.
D) a "business-extension exception" under the Electronic Communications Privacy Act.
Q3) In an attempt to combat spam, thirty-seven states have enacted laws that prohibit or regulate its use.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Criminal Law and Cyber Crime
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22572
Sample Questions
Q1) One element that normally must exist for a person to be convicted of a crime is the performance of a prohibited act.
A)True
B)False
Q2) Individuals who are arrested must be informed of certain constitutional rights.
A)True
B)False
Q3) Suzu, an employee of Ridgeline Credit Union, deposits into her personal account checks entrusted to Ridgeline through its ATM system by customers to deposit into their accounts. This is
A) burglary.
B) embezzlement.
C) larceny.
D) mail and wire fraud.
Q4) Sandy, a businessperson, is convicted of RICO offenses. Sandy's penalties may include
A) divestiture or dissolution of Sandy's business.
B) imprisonment for up to twenty years.
C) a fine of up to $25,000 per violation.
D) all of the choices.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Nature and Terminology
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22573
Sample Questions
Q1) Oceans Inc., a seafood distributor, agrees to buy from Paul, a commercial fisherman, any "overstock" of fish that Paul catches in excess of his legal limit. This agreement is most likely
A) enforceable.
B) quasi.
C) void.
D) voidable.
Q2) Bo signs a lease with Capri Apartments to lease a studio apartment for the next year for $650 per month. Daisy signs on Capri's behalf. Bo and Capri have A) no contract.
B) an express contract.
C) an implied contract.
D) a simple contract.
Q3) Jim tells Dana that he will take her out to lunch on Thursday. Jim has made Dana A) a prediction.
B) a promise.
C) a bilateral contract.
D) a void contract.
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Agreement in Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22574
Sample Questions
Q1) The first requirement for an offer is that it must be practical.
A)True
B)False
Q2) Gayla tells Franco that she will pay him $50 to haul the trimmed tree limbs and other lawn debris from her property. Franco's acceptance is complete
A) as soon as he says he will do the job.
B) once he starts to work.
C) only after he hauls away the debris.
D) when he hears the offer.
Q3) Coffee Brokers, Inc., offers to buy Dining Company's coffee-roasting services for a certain price. Dining responds that the price is too low and thereby rejects the offer. The offer is
A) terminated.
B) valid for a reasonable time to give Interstate a "second chance."
C) valid for the period of time prescribed by a state statute.
D) valid until Interstate revokes the offer.
Q4) An offeror's subjective intent determines the effectiveness of an offer.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Consideration
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22575
Sample Questions
Q1) Rudy files a suit against Shakes & Shingles, Roofing Contractor, Inc., under the doctrine of promissory estoppel. Rudy must show that
A) he justifiably refused to fulfill a promise to Shakes & Shingles.
B) he justifiably relied on Shakes & Shingles' promise to his detriment.
C) Shakes & Shingles justifiably refused to fulfill a promise to him.
D) Shakes & Shingles justifiably relied on his promise to its detriment.
Q2) The element of bargained-for exchange distinguishes contracts from gifts.
A)True
B)False
Q3) Maria is the sheriff of Narez, Texas. Oscar robs a Narez gas station and a $500 reward is offered for his capture. When, later, Maria finds and arrests him, with respect to the reward, she can
A) collect it.
B) not collect it because she had a preexisting duty to capture Oscar.
C) not collect it because it is not legally sufficient consideration.
D) not collect it because it would be unconscionable.
Q4) Legal sufficiency of consideration is the same as adequacy of consideration.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22576
Sample Questions
Q1) Laurel enters into a contract to sell her bike to Melanie. Melanie takes possession of the bike as a minor and continues to use it well after reaching the age of majority. She has
A) expressly ratified the contract.
B) impliedly ratified the contract.
C) expressly disaffirmed the contract.
D) impliedly disaffirmed the contract.
Q2) A minor has a reasonable time, after the minor reaches the age of majority, to disaffirm a contract.
A)True
B)False
Q3) Contractual capacity refers to the legal ability to enter into a contract.
A)True B)False
Q4) Orin signs a covenant not to compete with his employer, Product Distribution, Inc. The covenant will be enforced if it
A) does not require either party to obtain a business license.
B) is reasonable with respect to geographic area and duration.
C) relieves the employer from liability for any injury to Orin.
D) none of the choices.
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Mistakes, Fraud, and Voluntary Consent
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22577
Sample Questions
Q1) An innocent party can rescind a fraudulent contract and be restored to his or her original position.
A)True
B)False
Q2) Courts may award punitive damages in fraud actions.
A)True
B)False
Q3) Car Lot's salesperson Dick offers to sell Ernie, who is twenty years old, a car. Dick intentionally misrepresents the vehicle's use and repairs. In reliance, Ernie buys the car.
To prove fraud, Ernie does not have to show that
A) Dick intentionally deceived Ernie.
B) Dick misrepresented material facts.
C) Ernie is under twenty-one.
D) Ernie justifiably relied on Dick's misrepresentations.
Q4) A statement of opinion is generally subject to a claim of fraud.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: The Writing Requirement in Our Digital World
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22578
Sample Questions
Q1) Refer to Fact Pattern 16-3. The writing that Alain and Brie signed is
A) completely integrated.
B) conditionally integrated.
C) partially integrated.
D) supplementally integrated.
Q2) All collateral promises must be in writing to be enforceable.
A)True
B)False
Q3) Colin and Delta Water Company enter into an oral contract under which Delta agrees to provide Colin with lifetime employment. This contract may be enforceable by A) Colin only.
B) Delta only.
C) any interested third party, such as a Delta supplier.
D) either Colin or Delta.
Q4) A written contract that is intended to be the final statement of the terms of an agreement is an integrated contract. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Third Party Rights
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/22579
Sample Questions
Q1) Leon contracts to install automatic watering troughs in Kendall's dairy barn. Leon then becomes seriously ill and contracts with Jake to install the troughs. Jake is unreliable and never shows up to install the troughs. Kendall can sue
A) no one.
B) Jake only.
C) Leon only.
D) Jake or Leon.
Q2) Lyle and Miranda agree that Lyle will fix the refrigeration unit in Miranda's Buns n' Burgers in exchange for her payment of a debt that Lyle owes to New Credit Corporation. New Credit is
A) a delegatee.
B) an intended beneficiary.
C) an incidental beneficiary.
D) an assignor.
Q3) A transfer of contract rights to a third party is an assignment.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 18: Performance and Discharge
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22580
Sample Questions
Q1) A condition is a qualification in a contract based on a future event that is certain to occur.
A)True
B)False
Q2) Oren and Pat are parties to a contract for the management of Oren's residential rental properties. A dispute arises between them over the obligations due under the contract. They negotiate a compromise and form a different agreement to substitute for the original one. This settlement agreement does not require
A) the existence of a previous, valid obligation.
B) the agreement by the parties to the new contract.
C) a third party.
D) a new, valid contract.
Q3) Any breach discharges the nonbreaching party from the contract.
A)True
B)False
Q4) Most contracts need to be performed only to the satisfaction of a reasonable person unless they expressly state otherwise.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Breach of Contract and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22581
Sample Questions
Q1) A remedy is the relief provided to an innocent contracting party when the other party breaches the contract.
A)True
B)False
Q2) Lunch Trucks, Inc., contracts to deliver and serve Meals Catering Service's products to its clients for $5,000 per event, payable in advance. Meals Catering pays the money, but Lunch Trucks fails to perform. Can Meals Catering rescind the contract? Can Meals Catering also obtain restitution? What does it mean to "rescind" a contract? How is a contract rescinded? What is restitution? How is restitution accomplished? Explain.
Q3) Rita contracts to work for Social Media Corporation (SMC) during April for $4,500. On March 31, SMC cancels the contract. Rita declines a job of a different type and rank with Tech Talk, Inc., which would have paid $3,500. Rita files a suit against SMC. As compensatory damages, Rita can recover
A) $4,500.
B) $3,500.
C) $1,000 in shares of SMC stock.
D) $0.
To view all questions and flashcards with answers, click on the resource link above.
Page 21
Chapter 20: The Formation of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22582
Sample Questions
Q1) Under the UCC, good faith means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.
A)True
B)False
Q2) A contract for the sale of minerals is considered to be a contract for the sale of goods if the severance is to be made by the seller.
A)True
B)False
Q3) Leslie pays Mobile Electronics $600 for a new phone. Under the UCC, this is A) a merchant's firm offer.
B) a lease.
C) a sale.
D) a requirements contract.
Q4) A lessor is a party who transfers the right to the possession and use of goods under a lease.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 21: Title, Risk, and Insurable Interest
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22583
Sample Questions
Q1) All UCC provisions relating to the passage of title for sales of goods also apply to leases of goods.
A)True
B)False
Q2) When a buyer breaches a contract, the risk of loss immediately shifts to the buyer.
A)True
B)False
Q3) The entrustment rule basically allows innocent buyers to obtain legitimate title to goods purchased from merchants even if the merchants do not have good title.
A)True
B)False
Q4) Liz buys a car from Midtown Motors, paying with a check that is later dishonored. Liz later offers the car to Nick for cash. As the seller in the transaction with Nick, Liz's title to the car is
A) valid.
B) voidable.
C) void.
D) good.
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Performance and Breach of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22584
Sample Questions
Q1) In the absence of any specific agreements, the buyer or lessee must make payment after receipt of the goods.
A)True
B)False
Q2) Under the UCC, there are no exceptions to the perfect tender rule.
A)True
B)False
Q3) If, before the time for performance, a buyer communicates an intent not to perform, the seller can consider the buyer in breach and pursue a remedy.
A)True
B)False
Q4) Medical Supply Company and Health Care, Inc., enter into a contract for a sale of medical equipment and supplies. Under either a shipment contract or a destination contract, the seller must
A) allow the buyer to reject the goods for any reason.
B) deliver the goods to a particular destination.
C) place the goods into the hands of a carrier.
D) give the buyer any necessary documents of title.
Page 24
To view all questions and flashcards with answers, click on the resource link above.
Chapter 23: Warranties
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22585
Sample Questions
Q1) Trucks & Trailers, Inc. (T&T), and United Express Service enter into a contract for a lease of vehicles. T&T is a merchant who deals in goods of the kind leased. Under the UCC, an implied warranty of merchantability arises
A) automatically in most contracts for a lease of goods.
B) only if the lessee asks for it.
C) only if the lessor expresses such a warranty.
D) only in conjunction with sales, not lease, contracts.
Q2) Riverside Mill and Standard Contractors enter into a contract for a sale of lumber. The mill knows the purpose for which the buyer will use the goods. Under the UCC, an implied warranty of fitness of a particular purpose arises
A) if the buyer is relying on the seller to select suitable goods.
B) if the buyer asks for it.
C) if the seller is a merchant who deals in goods of the kind sold.
D) in conjunction with lease contracts, not sales contracts.
Q3) An implied warranty or merchantability and an implied warranty of fitness for a particular purpose cannot exist in a single transaction.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 25
Chapter 24: International and Space Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22586
Sample Questions
Q1) The management of Sport Shoes Corporation, a U.S. firm, wants to expand into foreign investment and employment markets. They are considering either opening their own production facility in a foreign country or entering into a licensing agreement with a foreign firm. What are the advantages and disadvantages of each of these courses of action?
Q2) Financial Invest Corporation, a U.S. firm, files a suit against Ghana in a U.S. court. Ghana claims foreign sovereign immunity. Under the Foreign Sovereign Immunities Act
A) the plaintiff must show that Ghana is not entitled to sovereign immunity.
B) Ghana must show that it is entitled to sovereign immunity.
C) the court must dismiss the suit without any showing.
D) the court may hear the suit but its decision will have no effect.
Q3) The U.S. government does not generally regulate private spaceports and the launch and reentry of private spacecraft.
A)True
B)False
Q4) International law is a body of law that governs relations among nations.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 26
Chapter 25: Negotiable Instruments
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22587
Sample Questions
Q1) Eden signs a promissory note payable to the order of First Mortgage 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 payable with interest.
D) nonnegotiable, because the exact amount payable cannot be determined from the face of the instrument.
Q2) To be negotiable, an order to pay must be addressed to only one person.
A)True
B)False
Q3) A personal check cannot be a negotiable instrument.
A)True
B)False
Q4) On a certificate of deposit, the bank is the maker and the depositor is the payee.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Transferability and Holder in Due Course
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22588
Sample Questions
Q1) Beth, an accountant for Credits & Debits, acquires a negotiable instrument from Ellen by promising to pay its face value in thirty days. Beth acquires the status of an HDC when she
A) acquires possession of the negotiable instrument.
B) agrees with Ellen to buy the negotiable instrument.
C) pays the face value due on the instrument.
D) transfers the instrument to another party.
Q2) An instrument is defective if it has been previously dishonored.
A)True
B)False
Q3) Allie signs a check payable to Bess, who indorses the back, gives it to County Credit Union (CCU), and receives cash. The transfer of the check from Bess to CCU is A) an assignment.
B) a negotiation.
C) none of the choices.
D) a sale.
Q4) A holder takes an instrument for value by promising to perform in the future.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: Liability, Defenses, and Discharge
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22589
Sample Questions
Q1) Len signs a note "payable to the order of Account Collection Agency." Unless Len has a valid defense against payment, his liability on this note is
A) immediate.
B) imposed only after payment is demanded.
C) postponed until the note is dishonored by the payee.
D) suspended until payment is due.
Q2) Under the fictitious payee rule, an innocent holder can hold the maker or drawer liable on the instrument.
A)True
B)False
Q3) Refer to Fact Pattern 27-1. Global Bank properly presents the note to Chuck for payment, but he dishonors it. With timely notice to the proper parties, Global Bank may collect payment on the note from
A) Investors, Equity Lenders, or Select Holdings.
B) Investors or Equity Lenders only.
C) Select Holdings only.
D) no one.
To view all questions and flashcards with answers, click on the resource link above.
29
Chapter 28: Banking in the Digital Age
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22590
Sample Questions
Q1) Elmore pays First National Bank $1,000 plus a service fee to draw a check on itself made payable to Go Delivery Service. This is
A) a stop-payment order.
B) a cashier's check.
C) a stale check.
D) an overdraft.
Q2) State Bank agrees to accept a check by setting aside sufficient funds to cover the amount. This check is considered
A) deposited.
B) cashed.
C) certified.
D) a provisional credit.
Q3) The death of a customer immediately revokes a bank's authority to pay an item.
A)True
B)False
Q4) A drawer is liable to the holder of a check in a civil suit if the check is dishonored for insufficient funds.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Creditors Rights and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22591
Sample Questions
Q1) A lien is an encumbrance on property to satisfy a debt or protect a claim for the payment of a debt.
A)True
B)False
Q2) Edie fraudulently induces Franco, a consumer, to sign a promissory note to buy a speedboat. Edie sells the note to Gus, who takes it for value, in good faith, and without knowledge of the fraud. With respect to the defense against payment on the note to Edie, Franco can
A) assert this defense against Gus.
B) file for a property exemption.
C) exercise the right of subrogation.
D) obtain a deficiency judgment.
Q3) Federal law alone governs garnishment actions. A)True B)False
Q4) A creditor's composition agreement is usually held to be enforceable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 30: Secured Transactions
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22592
Sample Questions
Q1) Kyla holds a security interest in inventory owned by Luc. Kyla protects her claim to the inventory in the event of Luc's default by A) assignment.
B) perfection.
C) redemption.
D) retention.
Q2) To create an enforceable security interest, the secured party must give something of value to a debtor's other creditors.
A)True
B)False
Q3) A purchase-money security interest in consumer goods is created when a person buys the goods on credit.
A)True
B)False
Q4) On default, a secured party who chooses not to retain the collateral must dispose of it in a commercially reasonable manner.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 32
Chapter 31: Bankruptcy Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22593
Sample Questions
Q1) In a repayment plan case, the plan must provide for payment of all claims in full, whether or not they are entitled to priority.
A)True
B)False
Q2) A bankruptcy estate consists of all the debtor's interests in property currently held, wherever located.
A)True B)False
Q3) A repayment plan case can be initiated by the conversion of a liquidation petition. A)True B)False
Q4) Carly files a petition in bankruptcy. One of the goals of bankruptcy law with respect to a debtor is to
A) encourage the continued use of credit to borrow funds.
B) ensure that third parties will continue to guarantee loans.
C) provide a fresh start, free from creditors' claims.
D) shield assets from creditors' claims.
To view all questions and flashcards with answers, click on the resource link above.
Page 33
Chapter 32: Agency Formation and Duties
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22594
Sample Questions
Q1) Normally, employees who deal with third parties are deemed to be agents.
A)True
B)False
Q2) Refer to Fact Pattern 32-2. At the shop, Faye is
A) an independent contractor.
B) an employee only.
C) an employee and agent.
D) a principal.
Q3) Refer to Fact Pattern 32-1. With respect to third parties, Nadine is Pumps's
A) employee, agent, and independent contractor.
B) employee and agent.
C) employee but not agent.
D) independent contractor.
Q4) Unless an agent does not act in exchange for payment, the principal must pay the agreed-on value for the agent's services.
A)True
B)False
Q5) An agency relationship cannot be created by an oral agreement.
A)True
B)False
34
To view all questions and flashcards with answers, click on the resource link above.
Chapter 33: Agency Liability and Termination
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22595
Sample Questions
Q1) A principal cannot be estopped from denying that an agent has authority.
A)True
B)False
Q2) Without authorization, Lars contracts on behalf of Mina to have Nemo paint the interior and exterior of Mina's house. If Mina decides to ratify the contract, she must affirm
A) all of the contract.
B) any part of the contract, with Lars liable to Nemo for the difference.
C) any part of the contract before performance begins.
D) any part of the contract at any time.
Q3) Under the doctrine of respondeat superior, an agent is liable for any harm caused to a principal by a third party.
A)True
B)False
Q4) A principal is not normally liable for the tort of an agent committed within the scope of the agency or employment.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Employment, Immigration, and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22596
Sample Questions
Q1) Berry Fields, Inc., employs hundreds of seasonal and permanent workers, both skilled and unskilled, in three states. Under federal immigration law, Berry Fields can hire illegal immigrants
A) if either the employer or the immigrants file special forms.
B) only if the employer files a special form.
C) only if the immigrants file special forms.
D) under no circumstances.
Q2) The Occupational Safety and Health Act imposes on employers a general duty to keep the workplace safe.
A)True
B)False
Q3) Cloud Computing & Processing Corporation wants to hire Dhani, a noncitizen with special qualifications. To hire Dhani, Cloud Computing must petition
A) the U.S. Department of Labor.
B) the Social Security Administration.
C) U.S. Immigration and Customs Enforcement.
D) the National Labor Relations Board.
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 35: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22597
Sample Questions
Q1) Sweet Air Company, a major supplier of air filters sold throughout the United States, employs one hundred workers at its principal manufacturing plant. The plant is located in Thunder Bay, which has a population that is 50 percent white and 25 percent African American, with the balance Hispanic American, Asian American, and others. Sweet Air requires a high school diploma as a condition of employment for its cleaning crew. Three-fourths of the white population completed high school, compared with only one-fourth of those in the minority groups. Sweet Air has an all-white cleaning crew. Has Sweet Air violated the Civil Rights Act? Explain.
Q2) State employers are not immune from private suits brought by employees under the Age Discrimination in Employment Act.
A)True
B)False
Q3) Federal law does not prohibit employers from classifying jobs as male or female. A)True
B)False
Q4) The Equal Pay Act and other federal laws permit employers to engage in gender-based wage discrimination.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 37
Chapter 36: Small Businesses and Franchises
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22598
Sample Questions
Q1) Ford is the sole proprietor of Go, a game app subscription service. As a sole proprietor, on the business's profits, Ford pays A) no income taxes.
B) only personal income taxes.
C) only business income taxes.
D) both personal and business income taxes.
Q2) Emma is interested in buying a franchise from Fine Jewelry, Inc. The franchisor must disclose material facts that Emma needs to make an informed decision concerning this purchase, according to A) no law.
B) federal antitrust laws.
C) the Federal Trade Commission's Franchise Rule.
D) the Petroleum Marketing Practices Act.
Q3) A franchisor's decision to terminate a franchise is always considered wrongful. A)True
B)False
Q4) A franchisor can mandate retail prices for the goods that a franchisee sells.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 37: All Forms of Partnerships
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22599
Sample Questions
Q1) Ed, a partner in Farm Equipment Sales, applies for a loan with Growers Bank allegedly on Farm Equipment's behalf but without the authorization of the other partners. The bank knows that Ed is not authorized to take out the loan. Liability in the event of default will be imposed on
A) none of the choices.
B) Ed.
C) Farm Equipment.
D) Growers Bank.
Q2) Unlike most agents, each partner in a partnership has an ownership interest in the business.
A)True
B)False
Q3) A partner's devoting time, energy, and skill to partnership business is a compensable service.
A)True
B)False
Q4) Dissociation normally entitles the partner to buy his or her interest from the partnership.
A)True
B)False
Page 39
To view all questions and flashcards with answers, click on the resource link above.
Chapter 38: Limited Liability Companies and Special Business Forms
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22600
Sample Questions
Q1) Limited liability company operating agreements can provide whether formal members' meetings will be held.
A)True
B)False
Q2) ost states apply to a limited liability company (LLC) formed in another state the law of the state where the LLC currently does business.
A)True
B)False
Q3) Limited liability companies are entities apart from their owners.
A)True
B)False
Q4) Leon, Michael, Nolan, and O'Neill join together to buy a professional basketball franchise. Their selected form of business organization is an investment group, which is also known as
A) a business trust.
B) a joint stock company.
C) a joint venture.
D) a syndicate.
To view all questions and flashcards with answers, click on the resource link above. Page 40
Chapter 39: Corporate Formation and Financing
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22601
Sample Questions
Q1) EZ Hauling holds itself out to customers as being a corporation but makes no attempt to incorporate. In this circumstance, EZ Hauling is most likely
A) a corporation by estoppel.
B) a de facto corporation.
C) a de jure corporation.
D) a benefit corporation.
Q2) Selecting the state in which to incorporate is an important step in the incorporation procedure.
A)True
B)False
Q3) Rita and Susan want to form and do business as Trips & Travel, Inc. They will serve as the firm's directors and officers, and will initially hold all of the stock in the company. A corporation is owned by
A) the board of directors.
B) the officers.
C) the employees.
D) the shareholders.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 40: Corporate Directors, Officers, and Shareholders
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22602
Sample Questions
Q1) Refer to Fact Pattern 40-1. Any damages recovered by the suit will normally go to
A) Energy Renew's shareholders, excluding Don.
B) Energy Renew.
C) Energy Renew's directors.
D) Energy Renew's shareholders, including Don.
Q2) Holly is a director of International Foods, Inc. As a director, with respect to the corporation, Holly is
A) a fiduciary.
B) an incorporator.
C) an officer.
D) an employee.
Q3) Since stock is intangible personal property, the ownership right to stock exists independently of a stock certificate.
A)True
B)False
Q4) Shareholders are personally liable for the debts of a corporation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 42
Chapter 41: Mergers and Takeovers
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22603
Sample Questions
Q1) Whether a combination is a merger or a consolidation, the rights and liabilities of the shareholders are the same.
A)True
B)False
Q2) Refer to Fact Pattern 41-3. The articles of consolidation differ from Fit-Rite's articles of incorporation. The articles
A) are replaced by Evergrip's articles of incorporation.
B) are replaced by the articles of consolidation.
C) effectively prevent the consolidation.
D) prevail.
Q3) A short-form merger is the legal combination of two or more corporations online.
A)True
B)False
Q4) OnSite Business Inc. can be compelled to dissolve by A) any of the choices.
B) its competitors.
C) dissatisfied clients and customers.
D) a court order.
To view all questions and flashcards with answers, click on the resource link above. Page 43
Chapter 42: Investor Protection, Insider Trading, and Corporate Governance
Available Study Resources on Quizplus for this Chatper
69 Verified Questions
69 Flashcards
Source URL: https://quizplus.com/quiz/22604
Sample Questions
Q1) Rico does not work for Street Bikes Company, but wrongfully obtains inside information concerning the firm. Based on the information, Rico buys and sells Street Bikes stock for personal gain. The Securities and Exchange Commission prosecutes Rico, arguing that he is liable because he stole information rightfully belonging to another. This argument is
A) the blue-sky theory.
B) the misappropriation theory.
C) the free-writing prospectus theory.
D) the tipper/tippee theory.
Q2) Orbital Flights, Inc., is required to register its securities under Section 12 of the Securities Exchange Act of 1934. Section 16(b) of the act covers
A) the declaration of dividends by Orbital's board of directors.
B) the later re-registration of Orbital's securities.
C) the short-swing activities of Orbital's insiders.
D) the solicitation of proxies from Orbital's shareholders.
Q3) Scienter is not required to impose criminal sanctions under Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.
A)True
B)False
Page 44
To view all questions and flashcards with answers, click on the resource link above.
Chapter 43: Administrative Agencies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22605
Sample Questions
Q1) A federal administrative agency may exercise powers beyond those that Congress delegates to it.
A)True
B)False
Q2) The Bureau of Land Management uses notice-and-comment rulemaking. This involves a period during which
A) judges, legislators, and the president are asked about a proposed rule.
B) potential violators of a proposed rule are notified and publicized.
C) the administrators "notice" a problem and "comment" on it.
D) the public is asked to comment on a proposed rule.
Q3) There are no situations in which an administrative agency can conduct a warrantless search.
A)True
B)False
Q4) A subpoena duces tecum is an order compelling a witness to appear at an agency hearing.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 45
Chapter 44: Consumer Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22606
Sample Questions
Q1) Food products are required to bear labels detailing the nutritional content.
A)True
B)False
Q2) Vague generalities are permissible in advertising.
A)True
B)False
Q3) One of the most important federal consumer protection laws is directed at deceptive trade practices.
A)True
B)False
Q4) Federal law governs the use of terms such as fresh on food labels.
A)True
B)False
Q5) Spicy Salsa Company complains to the Federal Trade Commission (FTC) about an ad by Tangy Sauces Inc., Spicy's competitor. The FTC investigates and concludes that the ad is deceptive. The FTC's next step is to
A) conduct negotiations between the competitors.
B) send a formal complaint.
C) issue a cease-and-desist order.
D) permit Spicy Salsa to distribute a similarly deceptive counter-ad.
Page 46
To view all questions and flashcards with answers, click on the resource link above.
Chapter 45: Environmental Protection
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22607
Sample Questions
Q1) Liability does not extend to businesses that merge with or buy corporations that have violated CERCLA.
A)True
B)False
Q2) Those who knowingly violate the Clean Air Act may be subject to civil penalties but not criminal penalties.
A)True
B)False
Q3) Regional Disposal Center operates a recycling plant. Stan and other citizens file a suit, alleging injuries from the plant. To succeed, they must show that the defendant failed to use reasonable care if the suit is based on
A) a negligence theory.
B) a nuisance theory.
C) any theory.
D) a strict liability theory.
Q4) The Environmental Protection Agency periodically updates the air pollution standards.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 47
Chapter 46: Antitrust Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22608
Sample Questions
Q1) Sunrich Company can process solar energy into an inexpensive fuel for internal combustion engines. As an innovator in its market, Sunrich currently has the power to affect the price of its product. This is
A) market power.
B) predatory pricing.
C) price discrimination.
D) monopsony power.
Q2) A market division by class of customer between rival firms does not violate antitrust law.
A)True
B)False
Q3) Unilateral conduct can result in a violation of antitrust law.
A)True
B)False
Q4) An agreement that is deemed a per se violation will be examined by a court to determine whether the agreement actually constitutes a reasonable restraint of trade.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 48
Chapter 47: Professional Liability and Accountability
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22609
Sample Questions
Q1) In an opinion, an auditor can include a general statement disclaiming any liability for false or misleading financial statements.
A)True
B)False
Q2) For a plaintiff to recover damages from an accountant under Section 10(b) of the Securities Exchange Act of 1934, ordinary negligence is not enough.
A)True
B)False
Q3) Brenda is an attorney whose clients include Capital Finance Company. If Brenda is negligent in her work for Capital, under the Restatement (Third) of Torts, Brenda may be liable to Capital and
A) any third party.
B) no third party.
C) third parties who are foreseen users of the work.
D) third parties who are reasonably foreseeable users of the work.
Q4) The competency of professionals' service is never an issue.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 49
Chapter 48: Personal Property and Bailments
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22610
Sample Questions
Q1) EquipLease Company leases a thresher to Farm Harvest, Inc., a firm that contracts with farm owners to harvest their crops. The machine is seriously damaged through Farm Harvest's neglect. Most likely liable for the damage is
A) EquipLease.
B) Farm Harvest.
C) the farm owners.
D) no one.
Q2) Brian discovers a boat adrift, and retrieves and anchors it. The boat features a number on its side and other evidence pointing to its owner, Celia. This is
A) an involuntary bailment.
B) a voluntary bailment.
C) an express bailment.
D) no bailment.
Q3) If the bailed property has been lost, a court will presume that the bailee was negligent.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 50
Chapter 49: Real Property and Landlord-Tenant Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22611
Sample Questions
Q1) Hal owns a farm in Iowa, with a farmhouse, barn, and other structures permanently attached. Hal grows corn on the property. Land includes
A) the corn, the soil, and the structures.
B) the corn and the soil only.
C) the soil only.
D) the structures and the soil only.
Q2) Vera sells her alluvial acres to Walt. The title is transferred by deed. Vera is A) the grantee.
B) the grantor.
C) the adverse possessor.
D) the licensor.
Q3) Sol allows Tiffany to camp on his land for several days and take photos for an upcoming exhibit of landscape photography. Sol has given Tiffany
A) a fee simple absolute.
B) a license.
C) a profit.
D) an easement.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 50: Insurance
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22612
Sample Questions
Q1) An insurance agent ordinarily works for the insurance company.
A)True
B)False
Q2) Frank applies to GuardDog Insurance Company for homeowners' insurance. The company issues a policy, but later discovers that Frank's application includes several misstatements. Most likely, these misstatements can
A) affect the coverage under the policy but cannot void the policy.
B) bind Frank but cannot affect the coverage.
C) not bind Frank or affect the policy.
D) void the policy.
Q3) Estimable Credit Company loans funds to Farmland Granaries, LLC, to buy a silo. Estimable obtains an insurance policy from Grangers Insurance, Inc., to cover the silo. Farmland also obtains a policy from Grangers to cover the silo. Later, Farmland sells the silo to Hi-Yield Harvest Company but keeps the policy. Hi-Yield also obtains a policy from Grangers to cover the silo. Estimable agrees to finance Hi-Yield's purchase of the property. A fire totally destroys the silo. Who can recover for the loss?
Q4) A person can insure anything in which he or she has an insurable interest.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 52
Chapter 51: Wills and Trusts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/22613
Sample Questions
Q1) A lapsed legacy will occur if the testator predeceases the gift.
A)True
B)False
Q2) A trust created by a will to come into existence on the settlor's death is an irrevocable living trust.
A)True
B)False
Q3) According to the terms of Donna's will, specific gifts are made, and taxes and other estate expenses and debts are paid. The assets of her estate that remain are
A) the bequest.
B) the devise.
C) the legacy.
D) the residuary.
Q4) One who dies after having made a valid will is said to have died intestate.
A)True B)False
Q5) Once executed, a will cannot be revoked.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 53
Chapter 52: The Legal Environment of Business
Available Study Resources on Quizplus for this Chatper
10 Verified Questions
10 Flashcards
Source URL: https://quizplus.com/quiz/22614
Sample Questions
Q1) Security Patrols Inc. requires its employees to respond to work-related text messages delivered via their company-issued smartphones while on duty in the workplace and while off duty elsewhere. Security's employees might successfully sue their employer for A) ownership of the company's smartphones.
B) a decrease in the quality of life.
C) a violation of the right to disconnect.
D) unpaid overtime.
Q2) Cell Service Corporation pads all of its customers' bills with an unexpected fee, adding up to millions in profit for Cell at a small expense for each individual customer. In this situation, the customers could most affordably fight this charge by
A) bringing individual lawsuits.
B) engaging in individual arbitration.
C) filing a class action.
D) taking their case to the state legislature.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 53: Torts and Crimes
Available Study Resources on Quizplus for this Chatper
10 Verified Questions
10 Flashcards
Source URL: https://quizplus.com/quiz/22615
Sample Questions
Q1) The existence of an ethical duty on the part of Commerce & Trade Company, and other businesses, to prevent an attack by hackers on business computer systems, and consequent theft of customers' and employees' personal data, is evidenced by
A) a business's offer of credit monitoring in the event of a breach.
B) a business's cyber security insurance.
C) the individuals' trust in the business to protect their data.
D) a business's stated "Privacy Policy."
Q2) Hank and Ida take photos of themselves in intimate moments. When their relationships ends, Hank posts the photos online without Ida's consent in an attempt to humiliate her. This is a crime in
A) a handful of states.
B) all states.
C) most states.
D) no state.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 54: Contracts and E-Contracts
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/22616
Sample Questions
Q1) O'Malley contracts to deliver a crop of organic mandarin oranges to Pete's Natural Produce Mart. An unexpected freeze destroys the oranges in O'Malley's orchard. Pete's insists that O'Malley deliver by acquiring the oranges on the open market. O'Malley claims that this is prohibitively expensive. The best argument against enforcing the contract is
A) frustration of purpose.
B) objective impossibility of performance.
C) anticipatory repudiation.
D) commercial impracticability.
Q2) Robin and Simon exchange offers and counteroffers via e-mail. These exchanges can constitute a valid contract
A) if the e-mails contain all of the necessary elements of a contract.
B) unless only the receiving party believes that there is an agreement.
C) unless the parties believe that the e-mails are only negotiations.
D) under no circumstances.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 55: Domestic and International Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
8 Verified Questions
8 Flashcards
Source URL: https://quizplus.com/quiz/22617
Sample Questions
Q1) Online retailers that have a physical presence within a state must collect state taxes on any Web sales made to residents of that state. Sell2U.com, Inc., an online retailer based in California, pays Tracker Web Services, which is located within New York, to direct traffic to Sell2U.com's site. If Sell2U.com must collect and remit taxes on its sales to New York residents, it is most likely because A) Sell2U.com's deal with Tracker falls within New York's definition of physical presence. B) Congress has explicitly chosen to tax Internet sales.
C) the United States Supreme Court has ruled that a state can compel an out-of-state business to collect and remit state taxes.
D) New York requires its residents to self-report their purchases and pay use taxes to the state.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 56: Negotiable Instruments
Available Study Resources on Quizplus for this Chatper
8 Verified Questions
8 Flashcards
Source URL: https://quizplus.com/quiz/22618
Sample Questions
Q1) Apple Pay and other phone-based payment systems enable mobile devices to A) link from a digital wallet to another app within a single phone.
B) entail more security risks than carrying a physical wallet.
C) communicate wirelessly with point-of-sale systems.
D) work with existing magnetic-strip credit-card machines.
Q2) Virtual currency is stored in a digital wallet and identified by public keys. To access virtual currency requires corresponding sequences of private keys. Unlike real currency, virtual currency is
A) not issued or backed by any government or bank.
B) subject to special digital transaction fees.
C) risk-free.
D) required to be accepted in payment or exchange.
Q3) Virtual currency is a medium of exchange that operates like a currency in some environments. In other words, more precisely, virtual currency is A) digital money.
B) coins and bills.
C) checks, notes, and other negotiable instruments in paper form.
D) all of the choices.
To view all questions and flashcards with answers, click on the resource link above.
58
Chapter 57: Creditors Rights and Bankruptcy
Available Study Resources on Quizplus for this Chatper
10 Verified Questions
10 Flashcards
Source URL: https://quizplus.com/quiz/22619
Sample Questions
Q1) Hailey, a U.S. citizen, buys John Lennon's piano from Kent, who is in Great Britain. Particularly useful to Hailey, who would prefer to conduct this deal as a secured transaction, is
A) Resale Weekly.
B) eBay.com.
C) Escrow.com.
D) Flippa.com.
Q2) Deb defaults on her debt to EZ Credit Company. The lender obtains a judgment against Deb, who quickly moves to another state. The judgment is domesticated in Deb's new location. If the lifespan of the judgment lapses before it can be collected, the domestication
A) also lapses.
B) may be subject to garnishment.
C) can be renewed.
D) must be frozen.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 58: Agency and Employment
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/22620
Sample Questions
Q1) The Patient Protection and Affordable Care Act sets forth responsibilities and benefits for businesses and their employees with respect to health care and insurance. Small businesses-those with fewer than fifty full-time employees-are
A) required to offer their employees health insurance.
B) subject to minimum standards on health plans offered to employees.
C) required to contribute to the premium for an employee's private plan.
D) eligible for "Marketplace Coverage Options."
Q2) In Pakistan, Mohammad, an employee of Noor, enters into a contract with Hassan. Under the principles of sharia law, liability for any breach of the contract may lie with Noor
A) in all circumstances.
B) if Hassan was aware of Mohammad's employee status.
C) if Mohammad entered into the contract on Noor's direct order.
D) under no circumstances.
To view all questions and flashcards with answers, click on the resource link above. Page 60
Chapter 59: Business Organizations
Available Study Resources on Quizplus for this Chatper
Source URL: https://quizplus.com/quiz/22621
Sample Questions
Q1) Like other online businesses, Amazing.com collects and retains its customers' account numbers and other personal information. Keeping this data private will most likely
A) protect against liability for wrongful disclosure or misuse.
B) comply with federal and state laws that also cover offline businesses.
C) meet the standards of foreign countries' privacy laws.
D) all of the choices.
Q2) Beth starts Checklist to market a new app. Valley Credit Union loans $30,000 to Beth for the project. Later, the debt is most likely to be discharged in bankruptcy
A) if Beth provides a complete, accurate record of business transactions.
B) if the loan is not subject to an agreement that imposes personal liability.
C) if Beth's business is a sole proprietorship.
D) under no circumstances.
Q3) Predictive analytics in the digital realm focuses on
A) predicting certain behavior based on certain data.
B) analyzing certain data to predict digital developments.
C) analyzing certain predictions to monitor certain results.
D) predicting certain digital data based on reasoned analysis.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 60: Government Regulation
Available Study Resources on Quizplus for this Chatper
12 Verified Questions
12 Flashcards
Source URL: https://quizplus.com/quiz/22622
Sample Questions
Q1) The European Union has charged Google Inc. with an antitrust violation-promoting its comparison-shopping service at the expense of its competitors. Google's best defense against this charge is that
A) "Google" has become a verb synonymous with conducting a search.
B) search engines have proliferated on the Web.
C) Google is abusing its dominant position.
D) Google prominently displays its service in its general search results.
Q2) Advertising generally is required to be accompanied by certain disclosures. According to Federal Trade Commission guidelines, disclosures accompanying native ads should
A) not be where consumers will notice them.
B) not be above or before the native ad.
C) not be as close as possible to where consumers look first.
D) stand out.
Q3) To reduce the emission of greenhouse gases, power companies are required to save specified amounts of energy by
A) all of the states.
B) less than half of the states.
C) more than half of the states.
D) none of the states.
To view all questions and flashcards with answers, click on the resource link above. Page 62
Chapter 61: Property and Its Protection
Available Study Resources on Quizplus for this Chatper
8 Verified Questions
8 Flashcards
Source URL: https://quizplus.com/quiz/22623
Sample Questions
Q1) Gwen starts Handy Crafts to advertise and sell ceramic pots, quilts, glass work, and so on. Later, Gwen marries Ivan, who creates and runs the firm's marketing. If Gwen and Ivan divorce, in most states the business will be considered
A) Gwen's separate property.
B) Ivan's separate property.
C) marital property.
D) neither separate nor marital property.
Q2) Liz starts Modern Roofing, which becomes successful through her efforts. Meanwhile, she marries Nick. To ensure that her business will not break up if her marriage falls apart, Liz should
A) avoid involving Nick in the business.
B) employ Nick in the business in a minor capacity.
C) appoint Nick to be the business's chief executive officer.
D) hire Nick to work for the business on a per-project basis
Q3) According to the United States Supreme Court,
A) Metro City can take a parking lot for a privately owned sports stadium.
B) all of the choices.
C) Laborville can condemn a vacant field for a private manufacturing plant.
D) Sleepyton can take residential property for a private corporate complex.
To view all questions and flashcards with answers, click on the resource link above.
Page 63