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A legal bar to the use of contradictory words or acts in asserting a claim against another
is known as:
A.condition.
B.estoppel.
C.redeeming power.
D.restraining order.
Each constitutional amendment must be proposed by a:
A.one-third vote of Congress.
B.one-fourth vote of Congress.
C.two-thirds vote of Congress.
D.three-fourths vote of Congress.
Shareholders vote for __________ who are responsible for managing the overall
strategy and operations of the firm over the long term.
A.financiers
B.coordinators
C.directors
D.administrators
An organization that provides health insurance by coordinating services with specific
doctors, hospitals, and other health care providers is _______________.
A. a health maintenance organization
B. Medicare
C. a major medical insurer.
D.a community based insurer
Wheat, sugar and flour are sold by weight and measure and are examples of:
A.mutated goods.
B.moss goods.
C.amoebic goods.
D.fungible goods.
A contract resulting from the use of undue influence is:
A.considered a mistake.
B..fraudulent
C.void.
D.voidable.
If the employer provides information to a third party that is untrue, then a current or
former employee may sue his or her employer for:
A.theft.
B.burglary.
C.defamation.
D.negligence.
Legality of purposes is the requirement that a contract:
A.must not violate the law.
B.can be void.
C.may contain a malafide intention.
D.need not be valid.
The web page or e-mail is generally regarded as the writing that satisfies the Statute of
Frauds in the case of:
A.auction sales.
B.online sales.
C.implied sales.
D.telephone sales.
Stealing merchandise from a retail store is an example of:
A.robbery.
B.hijacking.
C.shoplifting.
D.burglary.
When goods are shipped free on board (f.o.b.) shipping point by common carrier, title
passes from the seller to the buyer when the goods:
A.are delivered to the buyer.
B.are turned over to the carrier.
C.are sold.
D.reach the carrier's warehouse.
A business owned and operated by one person is called a(n):
A.limited partnership
B.sole proprietorship.
C.LLC.
D.501(c) corporation.
The parties involved in a draft or a check have particular names. The person who
receives the money is called the:
A.payee.
B.drawer.
C.holder.
D.payer.
In 1977, the United States passed the Foreign Corrupt Practices Act (FCPA), which is a
federal statute designed to provide executives of American companies with rules and
restrictions relating to paying persons in foreign countries to expedite business in these
foreign nations.
The company must comply with tax regulations, such as the restriction that there are a
limited number of shareholders, in order to qualify as a:
A.subchapter S corporation.
B.sole proprietorship.
C.limited partnership.
D.joint venture
A disclaimer of the _____________ of merchantability must mention the word
merchantability.
A.warranty
B.purpose
C.merchandise
D.lemon law
A record of bankruptcy may remain on one's record for up to:
A.3 years.
B.5 years.
C.7 years.
D.10 years.
For a contract to be dissolved because of a mistake, the law usually requires that the
mistake be:
A.mutual.
B.unilateral.
C.intentional.
D.a belief about what might happen in the future.
When goods are sold free on board (f.o.b.) shipping point, title to the goods passes from
the seller to the buyer when the carrier ________ the shipment.
A.discards
B.receives
C.deports
D.retreats
White-collar crimes typically involve:
A.force or violence.
B.neither force nor violence.
C.executives.
D.clerical workers.
Commercial paper differs from ordinary contracts because of the:
A.presumption of consideration and assignability.
B.ability to negotiate the commercial paper.
C.validity of the commercial paper.
D.ability to negotiate the contract.
A _______________ is a valuable tool used by a business to identify its products.
A.copyright
B.trademark
C. patent
D.sign
If the person accused of defamation had a special privilege in making the defamatory
statement, such as an attorney in a court proceeding who accuses a witness of lying, the
person who claims he or she was defamed:
A.cannot recover damages.
B.can recover damages.
C.can file a suit of defamation .
D.can make defamatory statement against attorney.
When a person sustains severe anxiety, the injured party may sue the offending party
for:
A.illegal interference in privacy.
B.intentional infliction of emotional distress.
C.invasion of privacy.
D.defamation.
Online marketers of products and services have quickly recognized that learning about
consumers' online behavior presents a real opportunity to increase their:
A.sales.
B.interests.
C.forces.
D.departments.
Professionals generally are members of state and national __________ societies, such
as bar associations or medical societies.
A.professional
B.organizational
C.insurance
D.commitment
In an effort to reduce the uneasiness of buyers, sellers often send out mailings to assure
buyers that the buyers did indeed make a wise purchase. These statements, subsequent
to the sale, also can be regarded as:
A.implied warranties.
B.wagering agreements.
C.express warranties.
D.indemnities.
To be enforceable, UCC agreements for the sale of personal property must be in writing
if they are for at least:
A.$100.
B.$200.
C.$500.
D.$1,000.
Most rights are assignable, except in cases in which the obligations of the parties would
be significantly:
A.altered.
B.recorded.
C.rejected.
D.shared.
A promise of an act by one party in exchange for the promise of an act by another is an
example of:
A.a void contract.
B.a valid offer and acceptance.
C.valid consideration.
D.a voidable contract.
If a law or regulation makes the performance of a contract illegal, the contract is:
A.unenforceable.
B.terminated by alteration.
C.void from the beginning.
D.terminated by operation of law.
