Business Law with Connect 16th Edition

Chapter 01 - The Nature of Law 1-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 01 - The Nature of Law 1-8 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution

Chapter 10 - The Agreement: Offer 10-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 11 - The Agreement: Acceptance 11-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 12 - Consideration 12-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016 by

Chapter 12 - Consideration 12-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016 by

Chapter 13 - Reality of Consent 13-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 14 - Capacity to Contract 14-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 15 - Illegality 15-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016 by

Chapter 16 - Writing 16-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016 by

Chapter 17 - Rights of Third Parties 17-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 18 - Performance and Remedies 18-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 19 - Formation and Terms of Sales Contracts 19-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole

Chapter 02 - The Resolution of Private Disputes 2-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or

Chapter 02 - The Resolution of Private Disputes 2-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or

Chapter 20 - Product Liability 20-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 20 - Product Liability 20-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. an express

Chapter 21 - Performance of Sales Contracts 21-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 22 - Remedies for Breach of Sales Contracts 22-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole

Chapter 24 - Real Property 24-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 24 - Real Property 24-10 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 25 - Landlord and Tenant 25-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 27 - Insurance Law 27-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. classified as

Chapter 28 - Introduction to Credit and Secured Transactions 28-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole

Chapter 03 - Business and the Constitution 3-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution

Chapter 03 - Business and the Constitution 3-18 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution

Chapter 35 - The Agency Relationship 35-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 35 - The Agency Relationship 35-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 36 - Third-Party Relations of the Principal and the Agent 36-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized

Chapter 36 - Third-Party Relations of the Principal and the Agent 36-8 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website,

Chapter 37 - Introduction to Forms of Business and Formation of Partnerships 37-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a

Chapter 37 - Introduction to Forms of Business and Formation of Partnerships 37-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a

Chapter 38 - Operation of Partnerships and Related Forms 38-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale

Chapter 41 - History and Nature of Corporations 41-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or

Chapter 43 - Management of Corporations 43-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in

Chapter 43 - Management of Corporations 43-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 43 - Management of Corporations 43-17 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. court

Chapter 44 - Shareholders' Rights and Liabilities 44-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 44 - Shareholders' Rights and Liabilities 44-8 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 45 - Securities Regulation 45-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 45 - Securities Regulation 45-21 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. information for

Chapter 46 - Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals 46-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on

Chapter 46 - Legal and Professional Responsibilities of Auditors, Consultants, and Securities Professionals 46-10 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on

Chapter 47 - Administrative Law 47-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 47 - Administrative Law 47-8 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. basis of

Chapter 48 - The Federal Trade Commission Act and Consumer Protection Laws 48-7 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a

Chapter 49 - Antitrust: The Sherman Act 49-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 49 - Antitrust: The Sherman Act 49-9 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 05 - Criminal Law and Procedure 5-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution

Chapter 05 - Criminal Law and Procedure 5-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 05 - Criminal Law and Procedure 5-19 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution

Chapter 50 - The Clayton Act, the RobinsonPatman Act, and Antitrust Exemptions and Immunities 50-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted

Chapter 50 - The Clayton Act, the RobinsonPatman Act, and Antitrust Exemptions and Immunities 50-9 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted

Chapter 51 - Employment Law 51-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 51 - Employment Law 51-9 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. 2016

Chapter 52 - Environmental Regulation 52-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 06 - Intentional Torts 6-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any

Chapter 06 - Intentional Torts 6-10 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any

Chapter 07 - Negligence and Strict Liability 7-9 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Chapter 08 - Intellectual Property and Unfair Competition 8-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or

Chapter 08 - Intellectual Property and Unfair Competition 8-11 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or

Chapter 08 - Intellectual Property and Unfair Competition 8-18 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or

Chapter 09 - Introduction to Contracts 9-1 2016 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part.

Which article of the UCC specifically addresses and governs leases of goods? A. Article 3 B. Article 2 C. Article 2A D. Article 4 C.In 1987 section 2A was written and adopted to the UCC to cover leases of goods. C.In 1987 section 2A was written and adopted to the UCC to cover leases of goods. C. In

Able Co. entered into a contract with Baker Co. for the sale of goods. Both parties are merchants under the UCC and each party used its own form as an offer and acceptance. On the reverse of each form, there were minor terms that conflicted with each other. What is

In order to satisfy the writing requirement of the statute of frauds, both parties must provide the entire agreement in writing. FALSEMost states require only a memorandum of the parties' agreement; they do not require that the entire contract be in writing. FALSEMost states require only a memorandum of the parties'

The FDCPA requires a collector to give a debtor certain information about the debt: A. within ten days of the collector's first communication with the debtor. B. within ten days of the debtor receiving the credit amount. C. within five days of the collector's first communication with the debtor. D. within five days of

The principal's death automatically terminates an existing agency. FALSEUnder the Restatement (Third) of Agency, termination of agency by the death of the principal is effective only when the agent has notice of the principal's death. FALSEUnder the Restatement (Third) of Agency, termination of agency by the death of the principal is

Which of the following must obtain a National Pollution Discharge Elimination System (NPDES) permit? A. A manufacturing firm buries its hazardous waste materials in a special dump. B. A factory discharges industrial wastewater from a point source into a river. C. An apartment building discharges domestic sewage to a publicly owned treatment works. D.

Which of the following is true of the Commerce Clause in present times? A. It has become a federal power with an extensive regulatory reach. B. It no longer blocks state regulations that hinder interstate commerce. C. It has been preempted by the federal taxing and spending powers. D. It allows Congress to regulate

In a partnership agreement, partners are not criminally liable when a partner commits a crime in the course and scope of transacting partnership business, even if they knew of the partner's criminal tendencies and placed him or her in a position in which he or she could commit a crime. FALSEWhen

To recover under a property insurance policy, an insurable interest must exist: A. When the policy is purchased: Yes; At the time of loss: Yes B. When the policy is purchased: Yes; At the time of loss: No C. When the policy is purchased: No; At the time of loss: Yes D. When the

Specific performance is almost never awarded in contracts for the sale of land. FALSEContracts for the sale of real estate are the most common subjects of specific performance decrees because every tract of real estate is presumed to be unique. In fact, they rarely awarded for the sale of goods. FALSEContracts

Which of the following acts is most likely to violate the Telemarketing Sales Rule (TSR)? A. Calling a consumer's residence at 9:30 P.M. to inform about an exciting prize promotion. B. Soliciting sales through the mailing of a catalog and then receiving customers' orders by telephone. C. Making telephone calls to a customer to

Which section of the UCC defines what a merchant is? A. 2-104(1) B. 2-302 C. 2-305(2) D. 2-306 A.UCC section 2-104(1) defines a merchant as a person who deals in goods of the kind or otherwise by his occupation holds himself as having knowledge or skill particular to the practices or goods involved in transaction. A.UCC

Sally seeks to list her home with Barry, a real estate broker. Sally and Barry agree that Barry will receive a commission if the home sells within 90 days, regardless of who actually causes the sale of the property. Sally and Barry have a(n): A. open listing contract. B. exclusive agency contract. C.

Joe Smith has just died. Three months ago, when he knew that his death was impending, Joe established a spendthrift trust for the protection of his 16-year old son Bobby. The trust property consists mainly of $500,000 in investment securities. The trustee is Jack Purdy, a CPA. The trust agreement

What is the term for a condition that is specified in the contract? A. Express condition B. Implied condition C. Corporate condition D. Bilateral condition A.A condition that is specified in the contract of the parties is called an express condition. A.A condition that is specified in the contract of the parties is called an express

The UCC provides for a transfer warranty on unauthorized or repetitive remotely created checks. TRUEArticle 3 of the UCC grants a transfer warranty for unauthorized or repetitive remotely created checks. TRUEArticle 3 of the UCC grants a transfer warranty for unauthorized or repetitive remotely created checks. TRUE Article 3 of the UCC

The plaintiff can sue the defendant in whatever court, and in whatever locale that the plaintiff wishes. FALSEThe plaintiff in a civil case must chose a court to litigate in that has jurisdiction over the case. Jurisdiction is the court's power to hear a case and issue a decision. FALSEThe plaintiff

Which of the following is true about the seller's right to reclaim goods from an insolvent buyer? A. This right is superior to the rights of a good faith purchaser for value of the goods. B. The seller must make a demand for the goods within ten days of their receipt by

Which of the following relieves an employee of the hassle of separately filing charges under Title VII with the EEOC and with the state agency? A. Featherbedding by the EEOC B. Worksharing agreements of the EEOC C. A "right-to-sue" letter by the EEOC D. Yellow-dog contracts of the EEOC B.The EEOC has entered worksharing agreements

Which of the following is an option for the secured creditor when the debtor defaults? A. Transfer the collateral on to another creditor. B. Forget the collateral, and sue the debtor on his note or promise to pay. C. Sell the collateral and keep the surplus if any. D. Repossess the collateral and conduct

A check on which one bank is the drawer and another bank is a drawee is a: A. cashier's check. B. antedated check. C. certified check. D. teller's check. D.A teller's check is a check on which one bank is the drawer and another bank is the drawee. D.A teller's check is a check on which

A famous journalist predicted the result of an NBA match between the LA Groves and LA Phantoms in favor of the Phantoms, based on the present form of Groves. Accordingly, Mark placed a huge bet on the Phantoms and lost heavily. This is an example of misrepresentation of a material

Chicago School theorists argue that antitrust policy's primary thrust should feature: A. prointraindustry competition efforts. B. proregulation efforts. C. anticoncentration efforts. D. anticonspiracy efforts. D.Chicago School theorists argue that antitrust policy's primary thrust should feature anticonspiracy efforts rather than anticoncentration efforts. D.Chicago School theorists argue that antitrust policy's primary thrust should feature anticonspiracy efforts rather than

Who amongst the following is an "expert" under Section 11 of the Securities Act of 1933? A. A consultant who is an independent director of a company making a public distribution of securities. B. An auditor who issues an opinion regarding financial statements of a company making a public distribution of securities. C.

Able borrowed $10,000 from Baker, promising to return it with $1,000 interest on January 1, 2006. There is no dispute that Able owes Baker $11,000 due on January 1, 2006. On that day, Able gave Baker a valid check in the amount of $10,500 marked "payment in full for loan

In order to satisfy the statute of frauds, the parties' writing must be: A. signed by both parties. B. in legalese. C. signed by the "party to be charged." C.D. compressed into a single document.The contents of the memorandum must be signed by the "party to be charged." However, itis considered in the best

Which of the following legal provisions treats a corporation as a person? A. Corporation law B. The law of contract C. The Constitution of the United States D. The law of torts C.A corporation is a legal person and a legal entity independent of its owners (shareholders) and its managers (officers and the board of

Unless established differently in the Articles of Incorporation, a quorum for a shareholders meeting is a simple majority. TRUEA quorum is a majority of shares outstanding, unless a greater percentage is established in the articles. TRUEA quorum is a majority of shares outstanding, unless a greater percentage is established in the

Which of the following best represents an agent's duty of segregation? A. The agent not dealing with the principal's property so that it appears to be the agent's. B. The agent should not profit or receive any other benefit from acting on behalf of the principal. C. The agent has a duty to

A typed or rubber stamped signature is sufficient if it is put on the instrument to validate it. TRUEA typed or rubber-stamped signature is sufficient if it was put on the instrument to validate it. TRUEA typed or rubber-stamped signature is sufficient if it was put on the instrument to validate it.

Which of the following instruments defines an order directed to a certain person, namely a bank, to pay money from a person's account to a third person? A. Check B. Promissory note C. Certificate of deposit D. Draft A.The issuer of a check orders the bank at which he/she maintains an account to pay a

Any contract that is deemed illegal is also a criminal violation. FALSEWhen a court says that an agreement is illegal, it does not necessarily mean that the agreement violates a criminal law. FALSEWhen a court says that an agreement is illegal, it does not necessarily mean that the agreement violates a

A buyer in the ordinary course of business is: A. subject to the security interest created by his seller. B. free from the security interest created by the secured party. C. free from the security interest created by his seller. D. subject to the security interest created by the secured party. C.A buyer in the

Strong Corp. and Marginal, Inc. are competitors. Strong plans to acquire ownership of Marginal. Which of the following, if true, would help bolster a conclusion that the acquisition is lawful under Clayton Act Section 7? A. That the industry in which Strong and Marginal are competitors has become increasingly concentrated in

Pulse Corp. maintained a warehouse where it stored its manufactured goods. Pulse received an order from Star. Shortly after Pulse identified the goods to be shipped to Star and before moving them to the loading dock, a fire destroyed the warehouse and its contents. With respect to the goods, which of

Agency is a two-party relationship in which the agent is authorized to act on behalf of the principal. TRUEAgency is a two-party relationship in which one party (the agent) is authorized to act on behalf of, and under the control of, the other party (the principal). TRUEAgency is a two-party relationship

The Statute of Limitation provision of the UCC holds that for contracts for the sale of goods (in the absence of contractual agreement to the contrary) the period of time within which a lawsuit must be commenced is: A. one year. B. two years. C. three years. D. four years. D.The Code provides that a

Eleanor Rigby is an employee of Strawberry Fields Music, Inc., a firm that specializes in the preparation of original music for possible use by advertisers in TV and radio commercials. In January 2000, Rigby wrote a song that is protected by copyright. She wrote the song as part of her

The Code determines negotiability at _____, so that indorsements do not affect the underlying negotiability of the instrument. A. precompliance B. abeyance C. issuance D. disaffirmance C.The Code determines negotiability at issuance, so that indorsements do not affect the underlying negotiability of the instrument. C.The Code determines negotiability at issuance, so that indorsements do not affect

An unsecured credit transaction involves the greatest benefit to the creditor. FALSEThe unsecured credit transaction involves a maximum of risk to the creditor - the person who extends the credit. FALSEThe unsecured credit transaction involves a maximum of risk to the creditor - the person who extends the credit. FALSE The unsecured

A majority of the members of an LLC must agree for a plan to merger. FALSEAll members of an LLC must consent to a plan for a merger of the business. FALSEAll members of an LLC must consent to a plan for a merger of the business. FALSE All members of an

Which of the following forms of business always imposes double taxation on the earnings of the business? A. A corporation B. A limited liability company C. A limited liability partnership D. A sole proprietorship A.Only when the corporation distributes its profits to the shareholders in the form of dividends or the shareholders sell their investments

Transfer of corporate assets to shareholders for less than fair market value is called "looting." TRUETransfer of corporate assets to shareholders for less than fair market value is called "looting." TRUETransfer of corporate assets to shareholders for less than fair market value is called "looting." TRUE Transfer of corporate assets to shareholders

During the early period of American history the state governments issued special charters that created corporations. TRUEEarly American corporations received special charters from state legislatures that were granted one at a time by special action of the legislature. TRUEEarly American corporations received special charters from state legislatures that were granted one

Which of the following doctrines often proves helpful to plaintiffs who bring a product liability lawsuit alleging negligence? A. Res judicata B. Res ipsa loquitur C. Caveat venditor D. Caveat emptor B.Modern discovery rules and the doctrine of res ipsa loquitur -"the thing speaks for itself"- helps plaintiffs establish a breach

When a court says that an agreement is illegal, it most likely means that the agreement: A. has not mentioned a time period for which the agreement is valid. B. does not identify the parties involved in the agreement. C. is related to buying and selling of trade secrets. D. violates public policy. D.An agreement

A(n) _____ occurs when the landlord or the tenant transfers all of her remaining rights under the lease to another person. A. tenancy B. lease C. sublease D. assignment D.Assignment occurs when the landlord or the tenant transfers all of her remaining rights under the lease to another person. D.Assignment occurs when the landlord or the

A testator's children would be called his issue. TRUEA person's issues are their lineal descendants including children. TRUEA person's issues are their lineal descendants including children. TRUE A person's issues are their lineal descendants including children. The Private Securities Litigation Reform Act of 1995 requires an auditor to: A. report to the Securities

John is a partner of Aegon Services, a limited liability partnership firm. He committed fraud and embezzled $1 million from a client. The other partners would not be personally liable for John's malpractice. TRUEA limited liability partnership is a partnership whose partners have elected limited liability status. Reacting to the large

Sarah is 75 years old. She has a serious illness, but she does not want to be kept alive by extraordinary medical technology. Specifically, she does not want to be kept alive by a respirator. Which of the following should Sarah use in order to make sure that her wishes are

Under the principle of "Respondeat Superior," an employer is not liable for torts committed by employees. FALSEThe principle of respondeat superior makes employers automatically liable for torts committed by employees. FALSEThe principle of respondeat superior makes employers automatically liable for torts committed by employees. FALSE The principle of respondeat superior makes employers

What is the term for a dissociation that violates the partnership agreement? A. Wrongful dissociation B. Breach dissociation C. Fraud dissociation D. Agent dissociation A.Wrongful dissociation is when a partner violates the partnership while dissociating from the partnership. A.Wrongful dissociation is when a partner violates the partnership while dissociating from the partnership. A. Wrongful dissociation is when a

Mr. Green purchases a treadmill from Mr. Brown. Mr. Green tells Mr. Brown that he is purchasing the treadmill to jog and sprint. The treadmill that Mr. Green purchases does not allow for speeds faster than walking. Mr. Green should be able to recover his purchase money or receive a

Mei issues purchase order to June for goods which costs $25,000. June agrees to provide the same but she doesn't sign the purchase order. Mei can file a suit for the breach of contract. FALSEThe UCC recognizes gaps in agreements dealing with sales of goods. Hence, A cannot file a suit

A & K Inc. obtains a charging order against Bob, a partner in Foter and Poter Partnership. Such an act will cause the partnership to dissociate. FALSEA partner's transfer of his transferable partnership interest, by itself, does not cause a dissociation from the partnership, and neither does a creditor's obtaining a

S agrees to sell B 10,000 widgets at a price of $1.00 per widget. After B breaches the contract, S resells the widgets for $1.10 per widget in a public sale. S also saved $200 in shipping costs. What amount does S owe B? A. $1,200 B. $1,300 C. $1,000 D. Nothing D.The seller is

A remedy limitation is more likely to be declared unconscionable in consumer cases involving personal injury. TRUEImplied warranty disclaimers are more likely to be declared unconscionable in personal injury cases brought by ordinary consumers. TRUEImplied warranty disclaimers are more likely to be declared unconscionable in personal injury cases brought by ordinary

The typical dissolution of a corporation requires approval of the: A. board of directors. B. creditors of the company. C. merger company. D. shareholders. D.The typical dissolution of a corporation requires approval of the shareholders. D.The typical dissolution of a corporation requires approval of the shareholders. D. The typical dissolution of a corporation requires approval of the shareholders. If

Article 2 of the UCC mandates that the parties to a sales contract state in specific and unambiguous language the exact terms of the contract. Otherwise, courts will declare the contract unenforceable. FALSEThe Code recognizes the fact that parties to sales contracts frequently omit terms from their agreements or state terms

The common law held that landlords: A. did not have the right to evict tenants for nonpayment of rent. B. needed to make necessary repairs of their leased premises. C. were responsible for the injuries caused to tenant due to their negligence. D. made no implied warranties about the quality of leased premises. D.The common

A personal representative of an estate would breach fiduciary duties if the personal representative: A. combined personal funds with funds of the estate so that both could purchase treasury bills. B. represented the estate in a lawsuit brought against it by a disgruntled relative of the decedent. C. distributed property in satisfaction of

Fred Sweet runs dancing classes for middle-aged and elderly people. Some of Fred's customers lack physical coordination, and injuries from kicks, falls, etc. are common. Fred naturally fears that injured customers will sue him for negligence. Thus, he makes each customer sign a written contract containing a clause relieving Fred

International law regulates lease terms in the United States. FALSEState and local law regulate lease terms. Most states have enacted the Uniform Residential Landlord and Tenant Act (URLTA) which regulates terms inside a lease. FALSEState and local law regulate lease terms. Most states have enacted the Uniform Residential Landlord and Tenant

A general partner in a limited partnership believes wrongly that an LLLP has been created. In such a case, which of the following will apply? A. He will be considered a limited partner of the limited partnership. B. He will lose his management powers over the limited partnership. C. He will have to

When both the bank and the customer failed to use ordinary care to prevent alteration or forgery of checks then a comparative negligence is used to determine liability for damages. TRUEAccording to the UCC in a case where both a bank and its customer fail to use ordinary care then a comparative

The Sherman Act states that corporations convicted of violating it may be fined as much as: A. $50 million per violation B. $100 million per violation C. $200 million per violation D. $150 million per violation B.The Sherman Act states that corporations convicted of violating it may be fined as much as$100 million per violation. B.The

A surety has a right of exoneration. TRUEA surety also has what is known as a right of exoneration, which is the right of the surety or guarantor to require the debtor to make good on his commitment to the creditor when he(1) is able to do so and (2) does

Mr. Blue is driving to work and gets into an accident. Since he was on his way to work Mr. Blue will be able to recover damages through his state's Workers Compensation system. FALSEIn order to recover through the Workers Compensation system a party must be injured through the course of

Under the common law, artisans, innkeepers, and common carriers were not entitled to liens. FALSEUnder the common or judge made law, artisans, innkeepers, and common carriers (such as airlines) were entitled to liens to secure the reasonable value of the services they performed. FALSEUnder the common or judge made law, artisans,

Selena pays back a $2,000 loan from her parents within one year before she files the bankruptcy petition. This is an example of: A. anticipatory breach. B. a secured transaction. C. preferential payment. D. a failure of consideration. C.If the favored creditor is an insidera relative of an individual debtor or an officer, director, or

There is/are no _____ for violating the provisions of the Clayton Act. A. injunctive relief B. treble damages C. cease-and-desist orders D. criminal penalties D.Because the Clayton Act focuses on probable harms to competition, there are no criminal penalties for violating its provisions. D.Because the Clayton Act focuses on probable harms to competition, there are no

Ratification has to be expressly made only in written form. FALSERatification need not necessarily be made in writing; it can be expressed orally as well. FALSERatification need not necessarily be made in writing; it can be expressed orally as well. FALSE Ratification need not necessarily be made in writing; it can be