A violation of a statute is a(n) ______.
A.enforceable act
B.tort
C.offense
D.crime
Intellectual property is also referred to as ___________ .
A.economic property
B.intellectual capital
C.testamentary property
D.real property
All but one of the following organizational forms have limited liability. This exception
is the:
A.sole proprietorship.
B.corporation.
C.subchapter S corporation.
D.limited partnership.
Legal disputes often involve the determination of who holds the title when a(n):
A.loss occurs.
B.contract commences.
C.performance begins.
D.illegal activity occurs.
The Eighth Amendment provides for all of the following EXCEPT:
A.restricting both the severity and the types of punishments that may be imposed by
federal and state governments.
B.mandating that people accused or convicted of crimes are not to be subject to
excessive bail.
C.allowing for barbarous punishment.
D.preventing the government from imposing an unjustly harsh fine on a person
convicted of a crime.
The document that lists the general powers of a corporation is called the:
A.memorandum of hierarchy.
B.memorandum of association.
C.articles of entrepreneurship.
D.articles of incorporation.
The Food and Drug Administration (FDA) requires all drugs to be thoroughly tested to
ensure that they are both safe and effective. The pharmaceutical companies subject
drugs to _________ of testing.
A.two phases
B.four phases
C.five phases
D.six phases
The landlord has the right to collect the agreed-upon rent as provided in the:
A.sale deed.
B.quitclaim deed.
C.warranty.
D.lease agreement.
In the case of a divisible agreement that has one part with a legal purpose, the part with
a legal purpose is generally:
A.enforceable.
B.void.
C.unenforceable.
D.disaffirmed.
If a person dies without a will, generally the surviving spouse and children will receive:
A.1/4 share of the property.
B.half of the property.
C.3/4 share of the property.
D.the entire estate of the deceased.
An instrument should contain any of the following words of negotiability in order to
make an instrument negotiable EXCEPT the words:
A.”payable to bearer.”
B.”payable to the order of.”
C.”payable to endorser.”
D.”payable to cash.”
A bailment in which both the bailee and bailor derive some benefit, and, as a result,
each has rights and duties, is known as a:
A.bailment for the sole benefit of the bailor.
B.mutual-benefit bailment.
C.bailment for the sole benefit of the bailee.
D.constructive bailment.
A _________ is somewhat open-ended, since it is automatically renewed at the end of
the period, unless the landlord or tenant gives notice of his or her intent to not renew the
lease.
A.periodic tenancy
B.tenancy for years
C.tenancy at will
D.tenancy at sufferance
The document in which a person directs his or her physician and /or health proxy to
forgo certain extraordinary (heroic) medical procedures if, for example, the person is
dying or permanently unconscious is called a:
A. durable power of attorney
B. living will
C. contract
D.health care compact
A court order prohibiting the performance of a certain act is termed a(n):
A.gag order.
B.transaction.
C.injunction.
D.restraining order.
In the event of a product liability, the entities who are particularly vulnerable when the
product manufacturer is insolvent or is a corporation that has been dissolved or is
unreachable are the:
A.designers.
B.managers.
C.purchasers.
D.retailers.
The branch of the government that frequently delegates to administrative agencies some
of their lawmaking authority is the:
A.legislative.
B.executive.
C.state judiciary.
D.federal judiciary.
Defamation, nuisance, conversion, and negligence are various kinds of:
A.common torts.
B.grave criminal offenses.
C.trade jargon.
D.commerce factors.
The Patient Protection and Affordable Care Act (PPACA) requires group health
insurance plans to provide coverage for dependent children.
Freelance writers and photographers, private-duty nurses, painters, and plumbers are
considered:
A.principals.
B.independent contractors.
C.sellers.
D.artisans.
A person who makes a will is known as a(n):
A.testator.
B.administrator.
C.executor.
D.trustee.
Electronic funds transfer (EFT) refers to a variety of electronic applications for
handling:
A.goods.
B.money.
C.instruments.
D.shipments.
A place where a corporation or an issuer sells its securities to the public is known as a:
A.commodity market.
B.primary market.
C.secondary market.
D.labor market.
Revocations by _____________ can include those that result from marriage or
remarriage of the testator, divorce or annulment of a marriage, and the birth or adoption
of children after the will was made, all of which can change the disposition of gifts.
A.operation of law
B.amendments of a will
C.restrictive covenants
D.arbitration agreements
If a minor has paid more than he or she should have been charged, then he or she can:
A.seek for specific performance.
B.not file a civil suit against the other party.
C.recover punitive damages.
D.recover the overcharged amount.
If insurance agents and brokers either fail to recommend the purchase of the right kind
of insurance to protect against a specific type of loss or fail to recommend appropriate
amounts of coverage, then it amounts to:
A.churning.
B.negligence.
C.malpractice.
D.embargoes.
A deed in which the grantor asserts that he or she has title and that the property is free
of the claims of others is a:
A.warranty deed.
B.quitclaim deed.
C.guarantee deed.
D.bargain and sale deed.
All of the following are the advantages of alternative disputes resolution system,
EXCEPT:
A.speedy disposal.
B.privacy.
C.finality.
D.publicity.
Examples of debts discharged under Chapter 7 bankruptcy include all of the following
EXCEPT:
A.credit card bills
B.medical bills.
C.lawsuit judgments
D.student loans.
Puffing is also considered:
A.a mistake.
B.dealer’s talk.
C.misrepresentation.
D.fraud.
In a malpractice lawsuit, the professional owes his or her client, as well as all third
parties who are foreseeably impacted by the professional’s work, a _______ to either
perform an action or not to perform an action.
A.contract.
B.duty.
C.gesture.
D.promise.
The expense associated with forming and maintaining the company in a corporation
serves as a(n):
A.stepping-stone.
B.disadvantage.
C.accounting strategy.
D.advantage.
To be enforceable, agreements in contemplation of marriage:
A.must be in writing and signed after the marriage.
B.must be in writing and signed before the marriage.
C.can be oral if the parties are both over the age of 21 years.
D.should be signed in the presence of witnesses.