Bank note is an example of _____.
A.debt securities
B.bills receivables
C.forward rate agreements
D.chattel papers
If two or more firms engage in a conspiracy to fix prices, they have formed a(n) _____.
A.oligopoly
B.monopoly
C.oligopsony
D.cartel
Which of the following is the most common type of patent?
A.Design patent
B.Utility patent
C.Plant patent
D.Prototype patent
When an affirmative action plan is instituted, often other employees who belong to the
group not discriminated against will feel they are being discriminated by
implementation of the plan. This is known as ___.
A.reverse discrimination
B.disparate impact
C.disparate treatment
D.affirmative action
Which of the following laws provides rules and regulations for how to exercise the
rights we are given by substantive law?
A.Public law
B.Civil law
C.Procedural law
D.Private law
According to the _____ ethical theory, in the event of an ethical dilemma, the ends
justify the means and the choice should be made to do what is the “greatest good” for
the most people.
A.utilitarian
B.deontological
C.categorical imperative
D.consequentialism
Which of the following is an important provision for employers in a collective
bargaining agreement?
A.Union security
B.Freedom from slowdowns
C.Job security
D.Freedom from management security
Which of the following types of patents is used for any new and useful process,
machine, manufacture, or composition of matter, or any new and useful improvement
thereof?
A.Design patent
B.Utility patent
C.Plant patent
D.Prototype patent
Which of the following statements is true regarding the Uniform Commercial Code?
A.The term common law of contracts tends to be used interchangeably with the
Uniform Commercial Code.
B.It addresses contracts for the sale of goods.
C.It is a compilation of the most common approaches to states’ common law of
contracts.
D.It addresses contracts involving land, services or intangibles.
A _____ is one who owes a debt to a creditor.
A.grantor
B.testator
C.debtor
D.promoter
If de novo review of administrative decisions is permitted upon judicial review then it
means the:
A.administrative agency’s final decision may only be reviewed at the appellate level.
B.decision can be reviewed a new trial only by the Supreme Court.
C.decision can be reviewed at the appellate level only if the application for review is
filed within a predetermined time period.
D.decision can be reviewed as a new trial at the trial court level.
Rita owns an art business called Rita’s Art Works. Rita receives a commission to paint a
mural on the side of a building downtown. Three of Rita’s employees are painting the
mural on the building when the scaffold they erected to do the project falls and injures a
passerby. Later it was found that the passerby was drunk and accidentally stumbled into
the scaffolding causing it to fall. If the passer by sues Rita for negligence, she can avoid
liability by using the defense of:
A.self protection.
B.lack of intent to harm.
C.assumption of risk.
D.contributory negligence.
Which of the following statements is true regarding the Fifth Amendment?
A.The Fifth Amendment protects the right of the people to keep and bear arms.
B.According to the Fifth Amendment you cannot refuse to talk to the police about any
crime that you might have committed.
C.According to the Fifth Amendment you can be compelled to testify against yourself
as to criminal matters.
D.Miranda warnings are partly based on the Fifth Amendment.
Boycotts:
A.aren’t anticompetitive.
B.don’t restrain trade.
C.increase competition.
D.are illegal per se.
With reference to defamation, which of the following statements best describes the
publication’ requirement?
A.The statement must be untrue.
B.The statement must be said in the presence of, or conveyed to, someone other than
the person making the statement and the person the statement is about.
C.Making negative statements about an individual’s property, animals or business is not
actionable as defamation.
D.The statements must be presented as fact, not opinion.
In binding arbitration, the arbitrator’s award cannot be reviewed if:
A.the award involves abuse and collusion.
B.the award is unconstitutional.
C.the only reason is that the parties do not like the award.
D.the award involves a fraud in the arbitrator’s decision.
Which of the following is NOT a legislative court under Article I?
A.Court of Appeal
B.Tax Court
C.Court of International Trade
D.Claims Court
Which of the following statements is true regarding an administrative agency?
A.Administrative agencies are created by executive order.
B.Congress is the one to determine what the agency should and should not do.
C.The FBI is an example of an administrative agency.
D.Each administrative agency’s own internal rules and regulations are set forth in its
administrative regulations published in the Uniform Commercial Code.
When a surety pays a debtor’s obligation, the surety is entitled to have the co-sureties
pay to the surety their proportionate share of the obligation the surety paid to the
creditor. This is known as the right of ___.
A.reimbursement
B.exoneration
C.contribution
D.subrogation
In all of the following cases federal law provides for the exclusive jurisdiction of
federal courts EXCEPT:
A.bankruptcy.
B.divorce.
C.claims arising under the Securities and Exchange Act.
D.maritime claims.
Vicarious liability is a liability imposed:
A.upon someone who did not actually commit the tort.
B.on the parties who enter into an optional contract.
C.upon a tortfeasor in the case of an intentional tort.
D.on the assignor of an assignment.
Which of the following best represents a formula, pattern, device, or compilation of
information that is used in one’s business and that gives one an opportunity to obtain an
advantage over competitors who do not know or have it?
A.Service mark
B.Trade secret
C.Certification mark
D.Collective mark
_____ was the first major U.S. labor law statute.
A.The Employee Free Choice Act
B.The National Labor Relations Act
C.The Norris-LaGuardia Act
D.The Taft-Hartley Act
Under which provision did labor and management agree that union membership was a
condition of employment for anyone coming into a unionized workplace?
A.Union shops
B.Agency shops
C.Closed shops
D.Open shops
A _____ is a legal document providing for the disposition of the property of the one
making it after his or her death.
A.summons
B.deed
C.contract
D.will
Which of the following statements is true in the context of equitable laws?
A.The case usually results in nonmonetary remedies.
B.The harmed party generally has a right to a jury trial.
C.The case is generally governed by federal laws.
D.Stare decisis is used for decision making.
Which of the following statements is definitely true regarding a registered stock?
A.A registered stock is a type of a debt security.
B.A registered stock is not a negotiable instrument.
C.A registered stock exists in the form of noncertificated stock.
D.The only person who has a right to negotiate it is the person whose name is registered
on the books of the corporation as the owner.
The National Labor Relations Board (NLRB):
A.is the independent state agency that enforces the labor laws.
B.decertifies unions that employees no longer wish to represent them.
C.abolishes all yellow dog contracts.
D.gives courts the right to issue injunctions against employees who strike.
If two parties involved in a dispute, decide to take help of The American Arbitration
Association then the matters of scheduling the arbitration and hearing and paying for
the arbitrator’s services are arranged with the arbitrator by the _____.
A.Arbitration and Mediation Center
B.federal government
C.American Arbitration Association
D.parties involved in the dispute
Which of the following statements is true regarding legal realism?
A.The theory of legal realism is based on the premise that society’s ideas change over
time and law should reflect a compromise between the changing, often conflicting,
interests of society.
B.The theory underlying legal realism is that there is a discoverable set of absolute right
and wrong principles upon which our laws should be based.
C.According to the theory of legal realism, law derives its status as law from the fact
that it has been enacted by the sovereign with the power to enforce his or her wishes.
D.According to the theory of legal realism, law follows what people actually do.
Which of the following statements is true regarding trademarks?
A.Trademark protection exists for a period of 50 years from the date of registration.
B.Trademarks are protected under the Lanham Act.
C.Trademarks are basically used for protecting the trade secrets.
D.Symbols and devices cannot serve as trademarks.
Generally, decision of an administrative agency can be challenged in a federal court
only if the:
A.litigant does not want to opt for administrative remedies as set forth under the
agency’s regulations.
B.case is related to child labor.
C.case is related to discrimination in the work place.
D.litigant has exhausted administrative remedies as set forth under the agency’s
regulations.
What is the difference between law and morality?
With reference to judicial review, what is a limited review?
Discuss the fee simple property interest.
Write a few lines on the Resource Conservation and Recovery Act.
Define tort. Discuss briefly common law torts.
What is a tort?
Discuss civil and criminal law.
What is a red herring prospectus?
With reference to judicial review, what is a de novo review?
Discuss the Restatement of Contracts.
What is a security?
Give a few examples under which trade associations can be held liable for violation of
the antitrust laws.
What is a Ponzi Scheme?
What are intentional torts?
What is a custom?
Discuss federal jurisdiction.
Discuss the 4/5 rule in the context of disparate impact.
What are the various requirements that must be fulfilled to establish the tort of trespass
to real property?