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Answer: TRUE Answer: TRUE Answer: FALSE Life insurance contracts carried for the benefit of a relative or approved beneficiary that have yet to mature are also protected. Answer: TRUE Answer: FALSE Equitable remedies are those that are imposed by the […]

Answer: FALSE The U.S. Supreme Court has given journalists the extra protection of the actual malice test when they write about public officials. Under the actual malice test, a public official must prove not only that the statement made or […]

Answer: TRUE Answer: TRUE Answer: FALSE A modified form of term insurance is decreasing term insurance. The premium stays constant from year to year, but the amount of protection (death benefit) decreases over the years. Answer: TRUE A negotiable instrument […]

Answer: TRUE Answer: FALSE The court must distinguish between undue influence and the kindness, attention, advice, guidance, and friendliness shown toward the testator by the one named in the will. Answer: TRUE Answer: TRUE Answer: FALSE The objective of the […]

Answer: TRUE Answer: FALSE A holder who receives an instrument from a holder in due course acquires the rights of the holder in due course, even though he or she does not qualify as a holder in due course. Answer: […]

Through what kind of written instrument would Tim direct Howard to pay $600 to the order of Celeste? A. A certificate of deposit B. A note C. A draft D. A dishonored draft Which of the following is true of […]

Answer: TRUE Answer: TRUE Answer: TRUE Answer: FALSE A contract implied by the direct or indirect acts of the parties is known as implied-in-fact contract. Because the parties to a contract enter that contract by an exercise of free will, […]

Answer: TRUE Answer: TRUE Answer: FALSE To adopt the euro, Europe’s common currency, a country must first belong to the European Union. Membership in the EU alone, however, is not enough to allow a nation to adopt the euro. In […]

Answer: FALSE In 1976, the FTC adopted the holder in due course rule. Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: FALSE The International Atomic Energy Agency (IAEA), which was created in 1957, […]

Answer: FALSE Rejection terminates an offer and all negotiations associated with it. Further negotiations could commence with a new offer by either party or a renewal of the original offer by the offeror. Answer: FALSE Like most government regulatory agencies, […]

Answer: TRUE Answer: FALSE The principle of the separation of powers set up the now familiar three branches of the national government: the executive branch, the legislative branch, and the judicial branch. The principle of checks and balances allows each […]

Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: FALSE First, another bright gal (or boy) decided that, what worked for mortgages would work for car loans, furniture loans, boat loans, home improvement loans, student loans, construction loans, […]

Answer: FALSE Those experts who believe in deterrence advocate long and difficult prison sentences so that other people in society are dissuaded from committing similar offenses and thus suffering the same fate. Answer: FALSE Sometimes mediation follows the filing of […]

Answer: FALSE In any event, a bank may pay or certify checks for 10 days after the date of death of the drawer. This rule permits holders of checks that are drawn shortly before the drawer’s death to cash them […]

Having been called for jury selection, Lawrence discovered that the defendant in the Answer: TRUE Answer: TRUE trial is the brother of his stockbroker. The lawyers may rightfully reject Lawrence on the grounds that his relationship with the stockbroker may […]

Which of the following stated that a farmer’s production of wheat for use only on his own farm was held to impact interstate commerce. A. Gibbons v. Ogden B. Wickard v. Filburn C. Hughes v. Wendel D. Mangus v. Miller […]

Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: FALSE A cybertort involves the invasion, distortion, theft, falsification, misuse, destruction, or exploitation of information stored in or related to electronic […]

Answer: FALSE If the stream is navigable, however, each owner owns only to the bank of the stream, and the bed is owned by the state. Answer: TRUE Answer: TRUE Answer: TRUE Answer: TRUE Answer: FALSE The agent may not […]

Answer: TRUE Answer: TRUE Answer: FALSE The Landrum-Griffin Act amended the Taft-Hartley Act, making it an unlawful labor practice to become involved in a hot-cargo contract. In this type of agreement, an employer voluntarily agrees with a union not to […]

Answer: TRUE Answer: FALSE To give minority shareholders an opportunity to elect one or more directors, some states permit cumulative voting. Answer: FALSE The promise of a gift to be given at some future time or in a will is […]

Answer: TRUE Answer: FALSE Most people 65 years of age and older are eligible for Medicare a federally funded health insurance program. Answer: TRUE Answer: FALSE Answer: TRUE Answer: FALSE Fair courts were empowered to hear cases involving commercial disputes, […]

Answer: FALSE An offer should identify (1) the parties involved in the contract, (2) the goods or services that will be the subject matter of the contract, (3) the price the offeror is willing to pay or receive, and (4) […]