Private civil actions are permitted under the Fair Labor Standards Act.
Under common law, the inclusion of additional terms in the acceptance of an offer is
considered a counteroffer rather than an acceptance.
Section 2 of the Sherman Act prohibits the act of monopolization.
Drafts that have a maturity date of six months are exempt from registration with the
SEC.
Physical deliveries are made in most bailments.
Liquidation is a form of bankruptcy in which the debtor’s exempt property is auctioned.
Substantive administrative laws enforced by administrative agencies are akin to statutes
in their legality.
Which of the following bankruptcy methods allows the reorganization of the debtor’s
financial affairs?
A) Chapter 11
B) Chapter 13
C) Chapter 7
D) Chapter 12
Which of the following terms refer to the overturn of verdict when jury misconduct is
detected?
A) remittitur
B) judgment notwithstanding the verdict
C) motion for summary judgment
D) motion for judgment on the pleadings
Sam wants to file a petition for bankruptcy. Which of the following is true in this
context?
A) Sam need not submit a list of creditors; it is obtained by the court upon
investigation.
B) Sam’s bankruptcy petition cannot be filed electronically.
C) Only Sam’s attorney can file his bankruptcy petition.
D) Sam’s attorney is liable for perjury if information filed by Sam is incorrect.
Which of the following is true of a promissory estoppel?
A) It is invoked in cases having option contract infringements.
B) It permits a court to order enforcement of a contract that lacks consideration.
C) It allows for a party to claim goods, which were revoked, for which it has already
paid consideration.
D) It is invoked in cases that involve a promissory note to pay considerations at a later
time.
Which of the following is true of a gift promise?
A) A gift promise can be enforced in a court of law.
B) A completed gift promise cannot be cancelled for lack of consideration.
C) A gift promise contains considerations.
D) The promisee can take legal action if the promisor does not uphold the promise.
Which of the following does Article 2A of the Uniform Commercial Code govern?
A) mixed sales
B) sale of goods
C) leases
D) letters of credit
A postjudgment court order that permits the seizure of a debtor’s property that is in the
possession of third parties is known as the ________.
A) writ of attachment
B) writ of prohibition
C) writ of exigent
D) writ of garnishment
Tangible property, such as automobiles, furniture, and equipment, and intangible
property, such as securities, patents, and copyrights, are collectively referred to as
________.
A) real property
B) immovable property
C) personal property
D) fixtures
Which of the following is true of monetary damages?
A) Nominal damages are paid once the nonbreaching party has suffered a financial loss.
B) Anticipatory breaches cannot be awarded monetary damages.
C) Liquidated damages are set by the court to the breaching party.
D) Consequential damages are considered monetary damages.
The lawfulness of all government classifications that do not involve suspect or
protected classes is examined using a(n) ________.
A) investigative challenge test
B) intermediate basis test
C) due process test
D) rational basis test
A(n) ________ is used if the obligor does not want to deal with or render performance
to an unknown third party.
A) anti-assignment clause
B) approval clause
C) novation agreement
D) anti-delegation clause
________ is the act of a minor after he or she has reached the age of majority, by which
he or she accepts a contract entered into when he or she was a minor.
A) Exculpation
B) Restitution
C) Ratification
D) Emancipation
The ________ is a rule which states that if an engagement is broken off, the person who
was given the engagement ring must return the ring, regardless of which party broke off
the engagement.
A) fault rule
B) objective rule
C) pro se rule
D) abatement rule
The U.S. Department of Agriculture places mandatory and consistent labeling
requirements on ________.
A) ready-to-eat meals
B) raw fruits and vegetables
C) raw seafood
D) meat and poultry products
A limited partnership has two types of partners, ________.
A) unique partners and limited partners
B) general partners and limited partners
C) ordinary partners and limited partners
D) special partners and limited partners