Where the principal is fully disclosed, the agent is not a party to the contract.
In the case of joint tenants with right of survivorship, a joint tenant can pass his or her
interest by will to anyone other than the other joint tenants.
Equitable remedies are generally available when no law has been violated, but a party
wishes to have relief.
SEC guarantees accuracy of the information printed in the prospectus.
In the case of de novo review of an administrative decision, the parties begin litigation
all over again as if there has not already been an agency decision.
According to the Executive Order 11246, those who contract to provide the federal
government with goods or services worth $20,000 or more must conduct an audit of the
workplace to determine if there is an underrepresentation of women or minorities in job
categories traditionally closed to them.
Disparate impact is an individual concept of discrimination rather than a group one.
Vicarious liability is a liability imposed upon a tortfeasor in the case of an intentional
tort.
Civil law is designed to make whole those who have suffered physical, monetary,
property, or other injury at the hands of another.
Conciliation involves intervention of a disinterested third party.
The general law governing how federal agencies must conduct business is set forth in
the Administrative Procedures Act.
Each state has its own common law of contracts that governs how contracts are made
and enforced in its state so rather than knowing the law in each state, states’ contract
laws have been distilled into a compilation called the Uniform Commercial Code.
Intent to discriminate must be shown, in a disparate impact case.
In palming off someone passes off their competitor’s goods as their own so that buyers
think they are buying one thing, when in fact, they are buying another.
There is a Securities and Exchange Commission rule that securities disputes be handled
by arbitration if possible.
The securities laws are made to protect people from bad investment decisions.
When the offeree initially rejects an offer, and then later accepts it, acceptance is not
effective when sent.
Under U.S. common law, anyone who owns land adjacent to navigable water also owns
property under the water. This doctrine is called littoral rights.
The decision reached by an arbitrator is called an award.
White collar crimes usually involve the threat of physical force or violence.
The Americans with Disabilities Act of 1990 covers only physical disabilities.
If the surety is an absolute surety, then before the creditor can collect from the surety,
the creditor must exhaust all other legal remedies to collect from the debtor.
For a case to arise in federal court, the amount in controversy must be at least $75,000.
Rules governing arbitration proceedings are less restrictive than rules governing court
proceedings.
If the terms of a contract have been fully performed, it is known as a unilateral contract.
A fee simple interest in land is only good for the life of the life tenant who holds the
interest.
When the injured party had reason to know that there was the possibility of harm from
defendant’s negligence and decided to do an act anyway, the defendant can avoid
liability by using the defense of contributory negligence.
Punitive damages are used in contract law to specify the predetermined amount of
damages for which a defendant will be liable in case of breach of contract.
Unions are only composed of supervisory or managerial employees.
Under the Employee Free Choice Act, once management has been presented with cards
signed by a majority of the bargaining unit indicating they wish to have a union, it
cannot hold a secret ballot election.
The law imposes a general duty on each of us toward others.
The _____ doctrine recognizes that in certain instances, public policy dictates that use
of the material is fair and that its use would not conflict with the constitutional mandate
to protect such work for the purposes of promoting intellectual growth and
development.
A.fair-use
B.work-for-hire
C.indemnity
D.implied license
Which of the following statements is true regarding voir dire?
A.It is the defendant’s answer to the complaint, which admits or denies the allegations
in the complaint.
B.It represents the time frame allowed for filing a law suit.
C.It is the process by which the jurors are chosen.
D.It represents the jurisdictional area of a Court of Appeals.
Which of the following statements is true regarding a security?
A.A security is a type of chattel paper.
B.Stock is one type of security.
C.Debt securities represent investors buying ownership in a company.
D.A security is not a negotiable instrument.
Which of the following sections is NOT one of the eleven sections of the
Sarbanes-Oxley Act Of 2002?
A.Analyst conflicts of interest
B.Corporate responsibility
C.Accuracy of forward looking statement
D.White Collar Crime Penalty Enhancement
Shawnee agrees to provide massage therapy to Pam for six months. Shawnee thought
the agreement was for Swedish massage. Pam thought it was for deep tissue massage.
Deep tissue massage costs twice as much as Swedish massage and Shawnee refuses to
honor the agreement. This is most likely to be an example of:
A.duress.
B.fraud in the inducement.
C.mutual mistake.
D.fraud in the execution.
According to which of the following requirements of a valid contract those under the
legal age of contracting (generally 18), those who are intoxicated or otherwise under the
influence of mind-altering drugs or those who are mentally incompetent cannot enter
into a valid contract?
A.Mutual assent
B.Legality
C.Capacity to enter into a contract
D.Consideration
A silicon chip manufacturer agreed to purchase computers from a computer firm that
buys its silicon chips from the first firm. After the agreement, neither of the two
companies bought from outside competitors, thereby closing off the markets of the two
firms. This is an example of _____.
A.foreclosure
B.entrenchment
C.reciprocity
D.arbitration
If an acceptance is seasonable then it means:
A.the acceptance was expressed in the form of silence.
B.the offer was accepted by the agent of the offeree.
C.the offer was accepted within the time set out by the offeror.
D.the acceptance was expressed after a prior rejection.
The _____ simply register a name of a business, wait for the business to attempt to
register the name, and then contact the business to get the business to buy the name
back.
A.early adopters
B.cybersquatters
C.laggards
D.cyberpirates
The _____ doctrine states that an employer automatically owns copyright in employees’
works that are prepared within the scope of employment.
A.fair-use
B.work-for-hire
C.inevitable disclosure
D.implied license
Which of the following statements is NOT true regarding discrimination based on
religion?
A.According to Title VII, employers are prohibited from discriminating on the basis of
religion provided the religion is a legitimate one.
B.Discrimination on the basis of religion is prohibited by Title VII.
C.Employers refrain from asking applicants or employees their religious affiliation.
D.Employers should refrain from treating employees differently based upon religion.
Which of the following types of property estates represents an interest in land that is
only good for the life of the life tenant who holds the interest?
A.Reversion
B.Life estate
C.Remainder
D.Tenant
Under the UCC an acceptance that makes changes to the offer is only considered a
counteroffer if:
A.the acceptance is expressed after rejection.
B.the offeree so intends.
C.the acceptance is seasonable.
D.the acceptance is expressed in the form of silence.
Which of the following statements is true regarding exoneration?
A.The right to exoneration arises when a surety has paid more than her share of the
debt.
B.The surety’s remedy of exoneration is against the debtor.
C.The surety has no right to exoneration until he actually pays the creditor.
D.The surety’s right to exoneration confers upon the surety all the rights the creditor has
against the debtor.
If a cell phone manufacturer purchases a microchip business, it creates a(an):
A.downstream merger.
B.horizontal merger.
C.upstream merger.
D.conglomerate merger.
James has taken a loan of $10,000 from a bank with Julia and Robert as his sureties.
However when the money becomes due, James is unable to pay the amount. Robert, as
one of James’ sureties, pays the entire amount to the bank. Robert, now, has the right to
receive a proportionate share of this obligation from Julia. This right is known as the
right of ___.
A.reimbursement
B.exoneration
C.contribution
D.subrogation
A union representation election is conducted by the ____.
A.business agent
B.management
C.bargaining unit
D.NLRB
An oligopoly:
A.includes only one company that exerts control over most of the market.
B.comprises of a large number of competitors who own the market.
C.includes only one large buyer dominating a particular market.
D.comes under Section 1 of the Sherman Act.
You have conflict with a friend and a common friend of both of you talks to each of you
separately and tries to get you to see the other’s side of things or to look at things a
different way in order to resolve the conflict. It is most likely to be an example of
_____.
A.arbitration
B.conciliation
C.mediation
D.summary jury trial
The one who gifts his personal property to someone is called a _____.
A.testator
B.tenant
C.donor
D.grantor
Some enabling statutes permit courts to have only limited review of administrative
decisions upon judicial review. Here limited review means:
A.the administrative agency’s final decision may only be reviewed at the appellate
level.
B.the decision can be reviewed a new trial only by the Supreme Court.
C.the decision can be reviewed only if the case is related to racial discrimination.
D.the decision can be reviewed as a new trial at the trial court level.
Which of the following statements is most likely to be true regarding a contract implied
in fact?
A.It is also known as a quasi contract.
B.It is a contract in which one party promises to do an act if the other party does
something.
C.The terms of the contract have been fully performed.
D.It is created when the parties enter into the agreement by their actions rather than
because they have actually discussed the matter.
Which of the following intentional torts against business can be thought of as a sort of
defamation against a business rather than an individual?
A.Disparagement
B.Palming off
C.Assault
D.Passing off
Purchasers who discover a false or misleading statement in a prospectus cannot bring an
action if more than _____ have passed since the purchase of the security.
A.two months
B.six months
C.two years
D.three years
When an agent is interacting with a third party on behalf of a principal, the principal is
said to be undisclosed if:
A.the agent is a general agent who has authority to transact all of the business of the
principal.
B.an agent and a third party interacts and the third party has no notice that the agent is
acting for a principal.
C.the third party with whom the agent interacts knows the agent is acting on behalf of a
principal, and he or she knows who the principal is.
D.an agent and a third party interact and the third party has notice that the agent is
acting for a principal but it does not know the principal’s identity.
Which of the following things is most likely to be patentable?
A.A law of nature
B.A distinct and new variety of plant produced asexually
C.A fundamental scientific principle
D.A mathematical formula
Which of the following is an incorporated form of business?
A.A sole proprietorship
B.A limited liability company
C.A corporation
D.A limited partnership
A _____ is a voluntary promise between two or more parties for which the law will
provide a remedy for nonperformance.
A.report
B.contract
C.notice
D.memo
Which of the following organizations is responsible for regulatory oversight of all
securities firms that do business with the public?
A.Office of Special Counsel
B.Financial Industry Regulatory Authority
C.Chief Financial Officers Council
D.Federal Accounting Standards Advisory Board
Which of the following is most likely to lead to hostile environment sexual harassment
claims?
A.Declining pay raise on the basis of gender
B.Declining training opportunity on the basis of gender
C.Repeated requests for dates or sexual activity
D.Declining promotions on the basis of gender
Discuss artisan’s lien.
According to some critics, what are the various disadvantages of The Sarbanes-Oxley
Act?
What are yellow dog contracts?
Discuss price fixing.
What is labor arbitration?
What are “right to work states?” Name any two such states.
Discuss briefly, capacity to contract.
What do you understand by Superfund?
Define law.
Discuss hostile environment sexual harassment.
Discuss the significance of the 341′ meeting.
What is product liability?
When can a claimant apply for a judicial review of an administrative agency’s decision?
What are per se violations? Give two examples.
Discuss inadequate considerations.
Discuss the difference between an export trading company (ETC) and export
management company (EMC).
Discuss briefly the Age Discrimination in Employment Act of 1967.
Discuss the Regulation D exemption.