Real Estate Law
Exam Materials
Course Introduction
Real Estate Law explores the legal principles and practices governing real property transactions, ownership, and rights. The course covers fundamental topics such as the nature and classification of property, contracts for sale and purchase, deeds, mortgages, leases, easements, zoning, land use regulation, title examination, and real estate financing. Students will analyze relevant statutes, case law, and common legal issues arising in residential and commercial real estate contexts, gaining an understanding of the legal framework within which real estate professionals operate. The course also addresses ethical considerations and the roles of various parties, including buyers, sellers, brokers, and attorneys, in real estate transactions.
Recommended Textbook Business Law Today Comprehensive 9th Edition by Roger LeRoy Miller
Available Study Resources on Quizplus
45 Chapters
3172 Verified Questions
3172 Flashcards
Source URL: https://quizplus.com/study-set/3656 Page 2
Chapter 1: The Legal Environment
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72747
Sample Questions
Q1) The U.S.Constitution is the supreme law of the United States.
A)True
B)False
Answer: True
Q2) Courts can rely on the common law as a guide to interpreting legislation.
A)True
B)False
Answer: True
Q3) MaxiMart,Inc.,is a discount retailer.MaxiMart's customer service employees are on strike.Sixty of the workers block the entrances to one of MaxiMart's stores.To get them away from the doors,MaxiMart should seek
A)an injunction.
B)damages.
C)rescission.
D)specific performance.
Answer: A
Q4) A decision on a given issue by a court is not binding on an inferior court.
A)True
B)False
Answer: False
Page 3
To view all questions and flashcards with answers, click on the resource link above.
Chapter 2: Constitutional Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72748
Sample Questions
Q1) Dru,a U.S.citizen,is the owner of Egret,Inc.Egret's competitors include Feathered Friends Company (FFC),which is owned by Greg and Huey.The Bill of Rights embodies a series of protections for Dru against types of interference by A)FFC and its other competitors only.
B)FFC,Greg,Huey,others,and the government.
C)Greg,Huey,and other private individuals only.
D)the government only.
Answer: D
Q2) Under the Constitution,Congress
A)administers the laws.
B)enforces the laws.
C)interprets the laws.
D)makes the laws.
Answer: D
Q3) Theoretically,Congress can regulate every commercial enterprise in the United States.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
Page 4
Chapter 3: Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72749
Sample Questions
Q1) In Restful Motel's suit against Sleepy Hotels,Inc.,the jury returns a verdict in Restful's favor.Sleepy files a motion stating that even if the evidence is viewed in the light most favorable to Restful,a reasonable jury should not have found in its favor.This is a motion for
A)a judgment in accordance with the verdict.
B)a judgment on the pleadings.
C)a new trial.
D)judgment n.o.v.
Answer: D
Q2) Negotiation is the most complex form of alternative dispute resolution. A)True
B)False
Answer: False
Q3) The United States Supreme Court can review a decision by a state's highest court only if a question of federal law is involved. A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above.
5
Chapter 4: Torts and Cyber Torts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72750
Sample Questions
Q1) Jaqy distributes a handbill among her neighbors accusing one of them-Ked-of being a convicted sex offender.The statement is defamatory only if
A)a neighbor repeats it.
B)Ked suffers emotional distress.
C)the statement is true.
D)the statement is false.
Q2) Toni files a suit against Universal Media Corporation for defamation.Actual malice must be shown for recovery of damages if Toni is
A)a corporate officer.
B)a non-employee.
C)a private individual.
D)a public figure.
Q3) The extreme risk of an activity is a primary basis for imposing strict liability. A)True
B)False
Q4) If no harm results from an allegedly negligent act,there is no liability.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
6
Chapter 5: Intellectual Property and Internet Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72751
Sample Questions
Q1) Home Products Company and House & Yard,Inc.,use the mark "Good Housekeeping Seal of Approval" to certify the quality of their products.Home Products and House & Yard are not in business together and do not own this mark.This mark is
A)a certification mark.
B)a collective mark.
C)a service mark.
D)trade dress.
Q2) A famous trademark may be diluted only by the unauthorized use of an identical mark.
A)True
B)False
Q3) A certification mark distinguishes products approved,or "certified," by the government.
A)True
B)False
Q4) Patent protection begins on the date that a patent is issued.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Criminal Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72752
Sample Questions
Q1) Embezzlement can be committed only by physically taking property from the possession of another.
A)True
B)False
Q2) Jake is charged with embezzlement.Embezzlement is not robbery because embezzlement may be committed without
A)a criminal act.
B)a criminal intent.
C)taking property from its owner.
D)the use of force or fear.
Q3) Dirk,an employee of Ergonomic Elevators,Inc.,pays Ferbie,an employee of Ergonomic's competitor G-Force Risers Company,for a secret G-Force pricing schedule.This is
A)an effective marketing strategy.
B)commercial bribery.
C)creative legal bookkeeping.
D)money laundering.
Q4) Only blue-collar crimes are prosecuted under RICO.
A)True
B)False
Page 8
To view all questions and flashcards with answers, click on the resource link above.
Chapter 7: Cyber Crime
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72753
Sample Questions
Q1) A hacker is someone who uses one computer to break into another.
A)True
B)False
Q2) It is not identity theft to use a fabricated identity to access online funds.
A)True
B)False
Q3) The anonymous nature of technology helps in the prosecution of cyber crime.
A)True
B)False
Q4) Via the Internet,Rocky sabotages the computer system of Quik Chik'n Company,a food manufacturer,with the purpose of altering the levels of ingredients of the company's products so that consumers of the food become ill.Rocky is
A)a cyberterrorist.
B)a botnet.
C)a virus.
D)a worm.
Q5) Most cyber crimes are new crimes.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Ethics and Business Decision Making
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72754
Sample Questions
Q1) Business ethics applies only to the owners,operators,and employees of corporations.
A)True
B)False
Q2) Olaf,an executive with Pharma Product Distribution,Inc.,has to decide whether to market a product that might have undesirable side effects for a small percentage of users.How should Olaf decide whether to sell the product How does the standard of ethics that is applied affect this answer
Q3) The role played by women may present some difficult ethical problems for firms doing business internationally.
A)True
B)False
Q4) In deciding questions of corporate social responsibility,Valley Disposal & Recycling,Inc.,is concerned with
A)how the corporation can best fulfill any ethical duty to society.
B)the effect on corporate profits of ignoring any ethical duty to society.
C)whether the corporation owes any ethical duty to society.
D)all of the choices.
To view all questions and flashcards with answers, click on the resource link above.
10
Chapter 9: Nature and Classification
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72755
Sample Questions
Q1) Contract law shows what excuses our society accepts for breaking certain types of promises.
A)True
B)False
Q2) Livewire Company and Kitchen Products,Inc.,sign a document that states Livewire agrees to design a Web page for Kitchen Products,which agrees to pay for the service.Livewire and Kitchen Products have made
A)an express contract.
B)an implied-in-fact contract.
C)an implied-in-law contract.
D)a quasi contract.
Q3) A quasi contract arises from a mutual agreement between two parties.
A)True
B)False
Q4) An express contract must be in writing.
A)True
B)False
Q5) Contract disputes rarely arise on a promise of future performance.
A)True
B)False
Page 11
To view all questions and flashcards with answers, click on the resource link above.
Chapter 10: Agreement in Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72756
Sample Questions
Q1) A person who does not know about a reward can still claim it.
A)True
B)False
Q2) A partnering agreement can indicate the parties' intent with respect to subsequent contracts.
A)True
B)False
Q3) Jane offers to sell Kyle three desks for his Lights & Lamps Company administrative office.Kyle sends a rejection first,then changes his mind and sends an acceptance.Whether they have a contract is determined by A)Kyle's rejection.
B)Kyle's subjective intent.
C)whatever Jane decides.
D)whether Kyle's rejection or acceptance is received first.
Q4) An acceptance that materially changes a term in the offer will still be considered an acceptance.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Consideration
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72757
Sample Questions
Q1) Risks ordinarily assumed in business do not constitute consideration for the modification of a contract.
A)True
B)False
Q2) Rescission is the dissolution of a contract that returns the parties to the positions they held before the contract.
A)True
B)False
Q3) Refer to Fact Pattern 11-3.If CCC offers no reason for the extra $100,000,but says only that it will otherwise stop construction,the agreement is
A)enforceable as an accord and satisfaction.
B)enforceable because of unforeseen difficulties.
C)unenforceable as an illusory promise.
D)unenforceable due to the preexisting duty rule.
Q4) A covenant not to sue is an agreement to substitute a contractual obligation for a legal action.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 13
Chapter 12: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72758
Sample Questions
Q1) A minor who affirmatively misrepresents himself or herself to be an adult will not be able to disaffirm a contract in most states.
A)True
B)False
Q2) Lora signs a covenant not to compete with her employer,Midstate 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 time.
C)is supported by consideration.
D)none of the choices.
Q3) Ordinarily,a minor who affirmatively misrepresents his or her age cannot disaffirm a contract.
A)True B)False
Q4) A contract with an unlicensed professional is never enforceable.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Voluntary Consent
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72759
Sample Questions
Q1) Refer to Fact Pattern 13-1.Opal's best argument in favor of enforcement of the contract is that
A)a bilateral mistake does not afford relief from a contract.
B)a mistake of value does not afford relief from a contract.
C)a unilateral mistake does not afford relief from a contract.
D)the price was below the prices of comparable devices.
Q2) A unilateral mistake occurs when only one contracting party is mistaken about a material fact.
A)True
B)False
Q3) Olin convinces Pia,who has no artistic ability,that Pia has considerable talent and induces Pia to pay Olin $10,000 for art lessons.When Pia realizes the truth,she files a suit against Olin.Pia is most likely to recover on the basis of A)fraud.
B)mistake.
C)puffery.
D)undue influence.
To view all questions and flashcards with answers, click on the resource link above.
15
Chapter 14: The Statute of Fraudswriting Requirement
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72760
Sample Questions
Q1) A party's oral agreement to pay another's debt is never enforceable.
A)True
B)False
Q2) Under the Statute of Frauds,oral contracts are void.
A)True
B)False
Q3) Parol evidence includes oral evidence that is outside a written contract and not incorporated into the contract expressly or by reference.
A)True
B)False
Q4) A contract involving property of any kind must be in writing to be enforceable.
A)True
B)False
Q5) A contract that by its own terms cannot be performed within a year must be in writing to be enforceable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Performance and Discharge
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72761
Sample Questions
Q1) After a contract is made,a supervening event may make performance impossible and discharge the contract.
A)True
B)False
Q2) Sam contracts to harvest Tina's crop on August 1.Due to an unexpected regional fuel shortage,Sam cannot perform on the specified date.This
A)breaches the contract.
B)discharges the contract.
C)has no effect on the contract.
D)suspends the contract.
Q3) A discharge in bankruptcy will ordinarily bar enforcement of most of a debtor's contracts by creditors.
A)True
B)False
Q4) A breach of contract occurs only when a party fails to perform all of his or her duties under a contract.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Breach and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72762
Sample Questions
Q1) The four broad types of damages in contract law are conciliatory,consecutive,punctual,and nominative.
A)True
B)False
Q2) A party seeking to recover in quasi contract must show that he or she acted without reasonably expecting to be paid.
A)True
B)False
Q3) Refined Commodities,Inc.,agrees to deliver ten tons of sheet metal to Select Builders Corporation.The agreement states that delivery is to be within "3" days,although the parties intend "30" days.Refined cannot convince Select to amend the contract.Refined should seek
A)damages.
B)reformation.
C)rescission.
D)specific performance.
Q4) Punitive damages are almost never available in contract disputes.
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
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72763
Sample Questions
Q1) Evergreen Landscapers,Inc.,owes Friendly Finance Company $5,000.Evergreen enters into a contract with Suburban Office Park under which Evergreen promises to maintain the landscaping on Suburban's property.Under the contract,Suburban promises to pay Friendly Finance the amount that will be due Evergreen until Evergreen's debt to Friendly Finance is paid.Evergreen performs as promised,but Suburban does not pay Friendly Finance.Can Friendly Finance succeed in a suit against Suburban Why or why not
Q2) A transfer of contract rights to a third party is a negotiated instrument.
A)True
B)False
Q3) McCall and Teresa enter into a contract for the distribution of McCall's produce to local restaurants for which Teresa agrees to pay.McCall transfers his right to payment under the contract to Midtown Bank.This transfer is
A)a delegation. B)an assignment.
C)a novation. D)prohibited.
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: 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/72764
Sample Questions
Q1) Article 2 of the UCC governs contracts for sales of services.
A)True
B)False
Q2) Nugget's Chick'n Shack orders chicken from Outlet Food Supplier,but Outlet does not deliver.Nugget's will probably be unable to enforce the agreement if the parties
A)did not limit the duration of the deal.
B)did not specify a payment term.
C)did not specify a quantity term.
D)have not begun to perform.
Q3) Under the UCC,an offer to buy goods can be accepted only by a prompt shipment of the goods.
A)True
B)False
Q4) The UCC imposes a good faith limitation on output contracts.
A)True
B)False
Q5) Stocks are an example of property that does not come under UCC Article 2.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Title and Risk of Loss
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72765
Sample Questions
Q1) If a lessor is a merchant,the risk of loss passes to a lessee when the lessee takes physical possession of the goods.
A)True
B)False
Q2) Under a shipment contract,the risk of loss passes to the buyer when the seller places conforming goods in the possession of the carrier.
A)True
B)False
Q3) With a bill of lading,Cartage Common Carrier Company acknowledges possession of certain goods and contracts to deliver them.Cartage is A)a bailee.
B)a buyer in the ordinary course of business.
C)a good faith purchaser for value.
D)an F.O.B.
Q4) In a sale on approval,title and risk of loss pass only when the buyer accepts the goods.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 21
Chapter 20: Performance Breach of Sales Lease Contracts
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72766
Sample Questions
Q1) On a lessee's insolvency,the lessor can stop delivery of the goods.
A)True
B)False
Q2) Food Packaging,Inc.,agrees to sell 50,000 6-ounce yogurt containers to Golden Dairy Company.Food can obtain only 20,000 of the 6-ounce containers,but also ships 30,000 more expensive 8-ounce containers for the same price.Under these circumstances,Golden
A)cannot reject delivery,and Food cannot later replace the containers.
B)cannot reject delivery,but Food can later replace the containers.
C)may reject delivery,and notice to Golden of Food's intent to cure will give Food a reasonable time to replace the containers.
D)may reject delivery,but Food cannot later replace the containers.
Q3) If a nonconforming installment substantially impairs the value of a whole contract,the buyer can treat the entire contract as having been breached.
A)True
B)False
Q4) A buyer may reject a seller's goods under any circumstances.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 21: Warranties and Product Liability
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72767
Sample Questions
Q1) A product is unmerchantable if an accident could arise in connection with the goods. A)True
B)False
Q2) Safe-Rite Company makes electrical cords and other connectors for electronic devices.Tina files a product liability suit against Safe-Rite,alleging a warning defect.Under the Restatement (Third)of Torts: Products Liability,in deciding whether to hold Safe-Rite liable,the court may consider
A)neither the characteristics of expected users nor the content of any warning.
B)only the characteristics of expected users.
C)only the content of any warning.
D)the characteristics of expected users and the content of any warning.
Q3) Regal Autos,Inc.,sells cars to consumers.To avoid liability for oral express warranties,each sales agreement should note that a car is sold
A)as is.
B)in perfect condition.
C)subject to warranties included in the written contract only.
D)with no known defects.
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Negotiable Instruments: Transferability Liability
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72768
Sample Questions
Q1) When an instrument has a forged indorsement,the loss usually falls on the first party to take the instrument.
A)True
B)False
Q2) To finance the purchase of a car from Giant Auto Sales,Hoppy signs an instrument promising to pay to "Ideal Credit Union" $18,000 with interest in installments with the final payment due May 15,2014.To be negotiable,this instrument must include on its face
A)any conditions on the sale of the car.
B)any conditions to the disbursement of the funds.
C)any conditions to the repayment of the loan.
D)no conditions.
Q3) Todd indorses a check,"Pay to Interstate Trucking if they deliver the lumber by May 1,2010." This is
A)a blank indorsement.
B)a qualified indorsement.
C)a restrictive indorsement.
D)a special indorsement.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 23: Checks and Banking in the Digital Age
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72769
Sample Questions
Q1) On Monday,Eve deposits in her account at Fiscal Bank a local check for $500.After 5:00 p.m.on Friday,from these funds,Eve can withdraw no more than
A)$100.
B)$400.
C)$500.
D)$600.
Q2) When a check "bounces," its holder can resubmit the check later,hoping that sufficient funds will be available.
A)True
B)False
Q3) Kris presents an instrument that states "pay to the order of Liv" to Metro Bank for payment.This is a special type of draft drawn on a bank,ordering the bank to pay a fixed amount of money on demand.This is
A)a certificate of deposit.
B)a check.
C)a debit card transaction receipt.
D)a trade acceptance.
To view all questions and flashcards with answers, click on the resource link above.
25
Chapter 24: Security Interests in Personal Property
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72770
Sample Questions
Q1) The last security interest to be perfected is the first in priority over any other perfected security interests.
A)True
B)False
Q2) Dag is the secured party in a secured transaction with Elmo.In this transaction,Dag
A)has a security interest.
B)owes payment.
C)owes performance.
D)owns collateral.
Q3) The payment of Brian's debt to Chuck is guaranteed by Brian's personal property.This is
A)a reorganization.
B)a secured transaction.
C)a suretyship agreement.
D)a violation of most state laws.
Q4) The price that a secured party obtains on a sale of collateral is all that the creditor can recover on the debt.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: Other Creditors Remedies and Suretyship
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72771
Sample Questions
Q1) All of a debtor's pay can be garnished.
A)True
B)False
Q2) A debtor's car may be exempt from satisfaction of a judgment debt.
A)True
B)False
Q3) A court-ordered seizure and taking into custody of property before the securing of a judgment for a past-due debt is an attachment.
A)True
B)False
Q4) Rhonda's debt to Skyler is past due.Skyler brings a legal action against A to collect the debt.To ensure that a judgment in Skyler's favor will be collectible,Skyler asks the court to order the seizure of Rhonda's property.Exempt from such an order in most states would be
A)all of Rhonda's real property.
B)as much of Rhonda's real property as Rhonda opts to exempt.
C)none of Rhonda's real property.
D)Rhonda's family home in its entirety or up to a specified amount.
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Bankruptcy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72772
Sample Questions
Q1) An involuntary bankruptcy occurs when a debtor's creditors are forced to accept a discharge of the debtor's debts.
A)True
B)False
Q2) A debtor need not be insolvent to file for bankruptcy relief.
A)True
B)False
Q3) Before filing for bankruptcy,a consumer-debtor must receive credit counseling.
A)True
B)False
Q4) In the distribution of the debtor's estate,secured creditors take priority over unsecured creditors.
A)True
B)False
Q5) Mabel files a petition in bankruptcy.The initial proceeding on this petition will be in A)a federal bankruptcy court.
B)a state bankruptcy court.
C)the highest court in the state in which Mabel lives.
D)the United States Supreme Court.
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: International Law in a Global Economy
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72773
Sample Questions
Q1) The United States taxes each barrel of imported oil at a flat rate.This is
A)an antidumping duty.
B)a dumping duty.
C)a quota.
D)a tariff.
Q2) Fabiola,or any foreign citizen,can bring a civil suit in a U.S.court for
A)a violation of a treaty of the United States only.
B)a violation of a treaty of the United States or of the law of nations.
C)a violation of the law of nations only.
D)no purpose.
Q3) Dumping is the sale of imported goods at "greater than fair value."
A)True
B)False
Q4) Under a letter of credit,the issuer is bound to pay the beneficiary after the beneficiary complies with the terms of the letter.
A)True
B)False
Q5) Tariffs are imposed only on exports.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 28: Agency Relationships in Business
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72774
Sample Questions
Q1) An agency relationship may not occur by operation of law in a family.
A)True
B)False
Q2) The equal dignity rule does not apply to a corporate officer who,in an ordinary business situation,acts on behalf of his or her firm.
A)True
B)False
Q3) Oscar is Precise Service Company's chief executive officer.On Precise's behalf,Oscar solicits business,hires and fires workers,and handles the finances.Precise pays Oscar varying amounts,depending on his "needs." Oscar is most likely
A)a principal.
B)an employee.
C)an employer.
D)an independent contractor.
Q4) A principal owes an agent a duty of accounting.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Employment, immigration, and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72775
Sample Questions
Q1) Detailed Designs Company,an architectural firm,wants to hire Eduardo,a noncitizen.A temporary work visa is most likely to be set aside for a noncitizen who is
A)a "person of ethnic similarity to the employer's workforce."
B)a "person of extraordinary ability."
C)a "person of ordinary ability and ambition."
D)a "person with an extraordinary work ethic."
Q2) Pip,a clerk for a Quik Burger,Inc.,restaurant goes out on strike with the other employees.After the strike,Pip must be given his job back if the strike is not deemed unlawful,there is still work at the restaurant,and the strike was
A)an economic strike only.
B)an economic strike or an unfair labor practice strike.
C)an unfair labor practice strike only.
D)unlawful.
Q3) Only the states set safety standards governing workplaces.
A)True
B)False
Q4) All employees are entitled to overtime pay.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 31
Chapter 30: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/72776
Sample Questions
Q1) Damages are available for victims of intentional employment discrimination based on gender,religion,age,or disability.
A)True
B)False
Q2) Job requirements that relate to job performance cannot violate employment discrimination laws.
A)True
B)False
Q3) Cody believes that Delta Corporation has discriminated against him on the basis of gender.Cody files a suit against Delta under Title VII.To establish a prima facie case of employment discrimination,Cody must show that
A)Cody is a member of a protected class.
B)Delta has no legal defenses against the claim.
C)discriminatory intent motivated Delta's act.
D)other firms in Delta's industry have committed discriminatory acts.
Q4) Title VII does not cover employees' online activities.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 32
Chapter 31: Sole Proprietorships and Private Franchises
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72777
Sample Questions
Q1) A franchise agreement between Simple Software Company and Total Game,Inc.,is silent on a time for termination of the franchise.Simple may A)never terminate.
B)terminate at any time.
C)terminate on reasonable notice.
D)terminate on three days notice.
Q2) A manufacturer's license to an outside dealer to sell a product is a distributorship. A)True B)False
Q3) Comfort Wear,Inc.,a franchisor of shoe stores,wishes to standardize the pricing practices of its franchisees that have engaged in price-cutting to increase their respective shares of the market.The most prudent remedy might be for Comfort to A)reduce the quantity of the products that it sells to its franchisees. B)suggest the prices at which its franchisees sell their products.
C)terminate the franchisees who cut prices.
D)undercut the business of those franchisees who cut prices by open?ing competing stores in the franchisees' territory.
To view all questions and flashcards with answers, click on the resource link above. Page 33
Chapter 32: All Forms of Partnerships
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72778
Sample Questions
Q1) The extent of implied authority is generally broader for agents than for partners.
A)True
B)False
Q2) In winding up a general partnership,partners receive distributions of profits before non-partner creditors are paid.
A)True
B)False
Q3) Only a limited partnership's limited partners have a fiduciary obligation to the other partners.
A)True
B)False
Q4) Clu,Dolf,and Elton do business as Fertile Valley Farm.Clu's relationship to the firm ends,but it continues to do business.This is A)dissociation.
B)dissolution.
C)winding up.
D)wrongful.
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 33: Limited Liability Companies Special Business
Forms
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72779
Sample Questions
Q1) The beneficiaries of a business trust are personally liable for its obligations.
A)True
B)False
Q2) China Bank is a foreign entity-a firm owned and operated by investors in a foreign country.With respect to an LLC in the United States,China Bank can A)act as a creditor,but cannot otherwise invest or participate. B)become a member.
C)not become a member,but can participate in its operations. D)not become a member or otherwise participate in its operations.
Q3) In some states,business trusts pay corporate taxes.
A)True
B)False
Q4) Most limited liability company (LLC)statutes provide that unless the members agree otherwise,all profits of the LLC will be divided equally.
A)True
B)False
Q5) The owners of a joint stock company are personally liable for its obligations.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Corporate Formation and Financing
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72780
Sample Questions
Q1) Starr Cardio,Inc.,is a small business.Ted,Uma,and eleven other members of the Starr family own all of its stock.Currently,Starr's income is taxed at the corporate level and,after being distributed to the family members,at the shareholder level.Can Starr retain its corporate status but otherwise avoid this double taxation If so,how
Q2) Firms are obligated to return a principal amount per share to each holder of common stock.
A)True B)False
Q3) Any person who buys common stock acquires voting rights in a corporation.
A)True B)False
Q4) Caffeine Café,Inc.,files its articles of incorporation with the appropriate government agency.Least likely to appear in the articles is the name of A)each of the corporation's incorporators.
B)each of the corporation's shareholders. C)the corporation.
D)the corporation's initial registered agent.
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 35: Corporate Directors,officers, Shareholders
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72781
Sample Questions
Q1) Chip is a director of Diners Restaurants,Inc.Chip would breach his duty of loyalty if he
A)becomes a director of Fluffy Mattresses,Inc.,a noncompeting firm.
B)buys a controlling interest in Gulpin' Foods Corporation,a competing firm.
C)votes for Diners to buy a controlling interest in Eateries,Inc.,which causes Diners to suffer a loss.
D)votes against Diners' purchase of a controlling interest in Eateries,Inc.,which causes Diners to suffer a loss.
Q2) Guy is Hot Java Company's majority shareholder.Guy decides to sell his Hot Java stock.The sale will be an effective transfer of the control of the company.Does Guy owe a duty to Hot Java or its minority shareholders in this situation
Q3) In all states,Sports Fitness Club Company and other corporations can pay dividends from
A)gross profits.
B)net profits.
C)retained earnings.
D)surplus.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 36: Corporate Acquisitions, takeovers, Termination
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/72782
Sample Questions
Q1) The board of directors of each corporation involved must approve a merger.
A)True
B)False
Q2) Pink Boutique Company and Purple Kiosk Company decide to consolidate.This corporate combination does not require the approval of
A)Pink and Purple's directors.
B)Pink and Purple's officers and employees.
C)Pink's shareholders.
D)Purple's shareholders.
Q3) After a consolidation,the new corporation inherits all of the consolidating corporations' rights.
A)True
B)False
Q4) The term for the legal death of the artificial "person" of Skytop Services,Inc.,or any other corporation,is
A)surviving corporation.
B)dissolution.
C)takeover.
D)winding up.
To view all questions and flashcards with answers, click on the resource link above. Page 38
Chapter 37: Investor Protection,insider Trading, Corp Gov
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72783
Sample Questions
Q1) Refer to Fact Pattern 37-3.Under the Securities Exchange Act of 1934,Fay is most likely
A)liable for insider trading.
B)not liable because Fay did not prevent others from profiting.
C)not liable because Fay did not solicit information from Dhani.
D)not liable because Fay does not work for Eureka.
Q2) In May 2009,National Biotech Corporation generally advertises that it will make a $4 million offering of stock in June.National makes the offering as advertised and,ten days after the first sale,notifies the Securities and Exchange Commission (SEC).All buyers of the stock are given material information about the company,its business,and the stock.Before the end of the year,the offering is completely sold out.The buyers include forty unaccredited investors and fifty accredited investors.National does not register the offering.The SEC files a suit against National,seeking civil sanctions on the ground that this offering was not exempt from registration.National argues that the applicable exemption is Rule 505 of Regulation D of the Securities Act of 1933 and that because of this exemption,any resale of the stock is also exempt.Who is correct
Q3) Private parties cannot sue violators of the Securities Act of 1933.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 38: Administrative Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72784
Sample Questions
Q1) If a business firm refuses to comply with an agency's request to inspect facilities or business records,the agency must defer to the refusal.
A)True
B)False
Q2) Guard Personnel Company is charged with using hiring practices that do not meet requirements set by the Transportation Safety Administration (TSA).The administrative law judge orders Guard to comply with the TSA's regulations.Guard may
A)appeal to the commission that governs the TSA.
B)appeal to Congress,which created the TSA.
C)appeal to a different,separate agency.
D)ignore the order.
Q3) The Consumer Product Safety Commission (CPSC)wants Monster Toy Company to produce certain records for review.To obtain the records,the CPSC will issue
A)an order for specific performance.
B)a rule for parol evidence.
C)a formal complaint.
D)a subpoena.
To view all questions and flashcards with answers, click on the resource link above. Page 40
Chapter 39: Promoting Competition
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72785
Sample Questions
Q1) Monopoly power may be proved by evidence that a firm used its power to control prices.
A)True
B)False
Q2) Insurance companies are exempt antitrust laws whenever state regulation exists.
A)True
B)False
Q3) Refer to Fact Pattern 39-1.A court would most likely rule that the agreement between Cardio and Emitate is
A)a deal that neither restrains trade or harms competition.
B)a legal restraint of trade.
C)a per se violation of the Sherman Act.
D)subject to analysis under the rule of reason.
Q4) HVAC Parts Company charges different buyers different prices for identical goods.HVAC's prices are subject to evaluation under
A)the Clayton Act.
B)the Federal Trade Commission Act.
C)the Sherman Act.
D)no antitrust law.
To view all questions and flashcards with answers, click on the resource link above. Page 41
Chapter 40: Consumer Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72786
Sample Questions
Q1) Penny Stock Company faxes ads to Quality Personnel Corporation and other businesses without the recipients' permission.This is A)illegal.
B)legal and smart because such ads are generally cheap.
C)legal but not smart because such ads are generally ineffective.
D)legal but only potentially smart,depending on the response rate.
Q2) Kip opens an account at a Lotsa Goodies Store,and buys a digital music player and other items,but makes no payments on the account.To collect the debt,Mako,the manager,contacts Kip's parents.This violates
A)no federal law.
B)the Fair and Accurate Credit Transactions Act.
C)the Fair Debt Collection Practices Act.
D)the Truth-in-Lending Act.
Q3) A credit-cardholder is liable for all unauthorized charges made before the creditor is notified that the card has been lost.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 41: Environmental Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72787
Sample Questions
Q1) Timberline Plywood Company discharges its untreated wastewater into Urban City's storm drainage pipes,which empty into Valley Creek.Under the Clean Water Act,this discharge is most likely
A)a violation.
B)not a violation because the company does not own the pipes.
C)not a violation because water is not a stationary source.
D)not a violation because a storm drainage pipe is not a point source.
Q2) An environmental impact statement is required for every major federal action that significantly affects the quality of the environment.
A)True
B)False
Q3) State and local government projects require federal environmental impact statements.
A)True
B)False
Q4) States may restrict emissions from motor vehicles.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 43
Chapter 42: Liability of Accountants Other Professionals
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72788
Sample Questions
Q1) Pace is an attorney,whose clients include Quikfeet Running Shoes Company.Unless Quikfeet has violated securities law,the contents of Pace's file on Quikfeet may be disclosed to someone other than Quikfeet
A)only to a third party who is a foreseeable user of the information.
B)only under a court order (with or without Quikfeet's consent).
C)only with Quikfeet's consent.
D)under any circumstances.
Q2) Flynn,an accountant,helps Grange Supply Company prepare and file a false federal corporate income tax return.Under the Internal Revenue Code,this is
A)a felony punishable by a fine and imprisonment.
B)a felony punishable only by a fine.
C)a misdemeanor punishable only by a fine.
D)a civil violation subject to a liability suit but not a crime.
Q3) Under rules of professional misconduct,an attorney should not engage in conduct involving deceit.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 44
Chapter 43: Personal Property and Bailments
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72789
Sample Questions
Q1) Constructive delivery does not satisfy the delivery requirement for an effective bailment.
A)True
B)False
Q2) Uri borrows Vera's boat to enjoy for a weekend.Uri negligently runs the boat aground near Water's Edge Beach,damaging the hull.Liable for the cost of repairing the boat is
A)Uri and Vera equally.
B)Uri only.
C)Vera only.
D)the owner of Water's Edge Beach.
Q3) Ben allows Cody to store his trailer on Ben's property for $20 a month while Cody is out of town.Later,Ben notices rainwater collecting in the trailer and covers it with a tarp at a cost of $40.This cost is most likely borne by
A)Ben and Cody.
B)Ben only.
C)Cody only.
D)neither Ben nor Cody.
To view all questions and flashcards with answers, click on the resource link above.
45
Chapter 44: 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/72790
Sample Questions
Q1) Generally,contract doctrines apply to a landlord-tenant relationship.
A)True
B)False
Q2) Consumer Shops,Inc.,signs a lease for a storefront owned by Downtown Building Company.Unlike a purchaser of real property,Consumer Shops
A)acquires only temporary possession of the premises.
B)enjoys exclusive possession of the premises.
C)holds only temporary title to the premises.
D)retains temporary,exclusive possession and title to the premises.
Q3) Bren leases an apartment from Cris for one year.After two months,she sublets the premises for the next six months to Dee,without obtaining Cris's consent.Dee pays the rent for only four months.For the last two months of Dee's six-month term,Bren is
A)liable for the rent,because Dee defaulted.
B)liable for the rent,because the sublease lacked Cris's consent.
C)not liable for the rent,because Bren does not own the apartment.
D)not liable for the rent,because Bren sublet the premises to Dee.
Q4) A warranty deed provides the most protection against defects of title.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 46
Chapter 45: Insurance,wills,and Trusts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72791
Sample Questions
Q1) An express trust is created or declared in explicit terms.
A)True
B)False
Q2) The word "Mom" can qualify as a signature on a will.
A)True
B)False
Q3) Edy obtains a homeowners' insurance policy with First Source Insurance Company.First Source can cancel the policy
A)if Edy appears as a witness in a case against First Source.
B)if Edy fails to pay the premiums.
C)if Edy makes changes that add to the home's value.
D)under no circumstances.
Q4) Misstatements or misrepresentations in an application for insurance can void a policy.
A)True B)False
Q5) To "publish" a will means to record it in the appropriate county office.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 47