1) if a $100 replacement part for a piece of manufacturing equipment is sold to a
manufacturing plant, the magnuson-moss act does not apply to the sale.
2) threats to institute legal actions cannot be considered improper threats that constitute
duress.
3) memberships in a nonpublic corporation are freely transferable.
4) an instrument that is payable to the order of cash can be negotiated simply by giving
it to the person to whom you wish to transfer it.
5) the epas “tailoring rule” would require certain new large sources to address their
greenhouse gas emissions as they get permits.
6) in a limited partnership, a general partners liability is limited to his investments in
the business.
7) the legal term for innocent misrepresentation is scienter.
8) the burden of proof in a tort case is a preponderance of the evidence.
9) recovery for occupational diseases is allowed under the workers compensation
system.
10) foreclosure is the process by which any rights of the mortgagor or the current
property owner are cut off.
11) undue influence cases often involve a relationship of trust and confidence between
the contracting parties.
12) the fourteenth amendments equal protection guarantee has been made applicable to
federal government action through incorporation of it within the fifth amendments due
process clause.
13) the contract clause applies only to state laws that impair past contracts-contracts
made before passage of the state law in question.
14) a partner may personally profit from a partnership transaction when he or she deals
in good faith with the partnership.
15) in which of the following situations, a court is most likely to refuse to enforce a
noncompetition clause?
a.the clause is not ratified by the employer.
b.the employment contract which contains the clause is an implied-in-fact contract.
c.the clause restricts employees from engaging in a common calling.
d.the employment contract which contains the clause is a quasi-contract.
16) which of the following factors will be most important in determining if an express
warranty has been created?
a.whether the statements made by the seller were in writing.
b.whether the seller intended to create a warranty.
c.whether the promises became part of the basis of the bargain.
d.whether the sale was made by a merchant in the regular course of business.
17) which of the following characterizes the computer fraud and abuse act (cfaa)?
a.it is a statute enacted by a state legislature.
b.it imposes only civil liabilities in fraud cases.
c.it imposes only criminal liabilities in fraud cases.
d.it imposes liabilities in cases concerning interstate commerce.
18) which of the following is true of testamentary capacity?
a.a person must be in perfect mental health in order to have testamentary capacity.
b.a person must be 18 years of age (in most states) in order to have testamentary
capacity.
c.a person must be in perfect health in order to have testamentary capacity.
d.a person must have real property in order to have testamentary capacity.
19) what do courts begin their interpretation of a clearly worded statute with?
a.its plain meaning
b.its legislative history
c.records of legislative debates
d.its different amendments
20) arthur offered to sell his house to mike for $50,000. even before mike responded to
the offer, jack learnt of the offer and called up arthur to accept the offer. jacks action
represents a(n) _____.
a.offer
b.promise
c.notification
d.acceptance
21) a court has held that a certain contract violates public policy. this contract will be
treated the same as a(n):
a.illegal contract.
b.contract between a minor and an adult.
c.private contract.
d.adhesive contract.
22) which of the following is true of subagents?
a.they must be appointed by the principal, though they report to the agent.
b.they are considered to be agents of the agent, but not of the principal himself.
c.subagents do not have the authority to bind a principal, but can bind the agent.
d.for a subagency to exist, an agent must have the authority to make the subagent his
agent.
23) when a party with the power to terminate an insurance policy exercises that power,
a _____ has occurred.
a.lapse
b.cancellation
c.reformation
d.rescission
24) which of the following statements is accurate in describing a sublease?
a.it is another term for an assignment.
b.it is used only in the context of commercial property.
c.it is an agreement between the original owner and a third-party.
d.a sublessee gets only partial rights.