In interpreting an ambiguous contract, one part of the contract:
a. must be viewed in isolation.
b. must be viewed as a condition.
c. must be viewed in connection with the rest of the contract.
d. must be viewed as indicating joint and several liability.
If an insured person tells her current husband that she is going to name him as
beneficiary of her life insurance in place of her former husband and dies a year later
without having taken any further steps with respect to the change of the policy
beneficiary, the insurance company must pay the proceeds of the policy to:
a. the former husband.
b. the current husband.
c. the children by the first marriage.
d. the children by the second marriage.
When a buyer assigns the right to goods under a contract, the buyer’s liability to make
payment to the seller is:
a. transferred to the third party.
b. terminated.
c. still in effect.
d. shared equally with the third party.
If there are two or more sureties and one pays more than its proportionate share of the
debt, such surety has the right against the co-sureties known as:
a. indemnity.
b. exoneration.
c. subrogation.
d. contribution.
When the indorser merely signs a negotiable instrument, the indorsement is called a
__________ indorsement.
a. special
b. qualified
c. blank
d. restrictive
Legal principles expressed for the first time in court decisions are called:
a. statutory law.
b. stare decisis.
c. common law.
d. precedents.
An agreement or provision in an agreement that one party shall not be held liable for
loss is:
a. contribution.
b. exoneration.
c. indemnity.
d. subrogation.
One reason the U.S. controls the export of goods and technology is:
a. for national security reason.
b. foreign policy.
c. short supply of domestic goods.
d. All of the above are reasons the U.S. controls the export of goods and techonolgy.
If taxes or assessments on leased premises are increased because of improvements
made by the tenant the:
a. landlord is only liable for such increases if the improvements stay with the property.
b. landlord is liable for such increases whether or not the improvements stay with the
property.
c. landlord is liable for such increases only to the extent that the improvements actually
increase the fair market value of the property.
d. tenant is always liable for such increases.
If a contractually-specified mode of transportation is not available, the:
a. contract is automatically voided.
b. seller must make delivery by a commercially-reasonable substitute.
c. buyer must arrange to pick up the goods.
d. seller must make personal delivery.
Companies who have misrepresented the capabilities of their search engines or failed to
disclose the methods whereby they give preference to certain links:
a. may be liable for fraud, but are not responsible for either rescission or damages.
b. may be liable for fraud, but if so are only responsible for rescission.
c. may be liable for fraud, but if so are only responsible for damages.
d. may be liable for fraud, and if so might be responsible for rescission or damages.
The writing required by the statute of frauds in the case of a contract for the sale of land
must:
a. be addressed to the other party to the contract.
b. be made with the intent to create a writing to satisfy the statute of frauds.
c. be signed at the end of the writing.
d. describe the land to be sold.
Who is entitled to file a motion to dismiss?
a. defendant only
b. plaintiff only
c. both plaintiff and defendant
d. none of the above
An ethical duty of confidentiality could be breached where:
a. information obtained through research of the employer is disclosed.
b. customer lists or leads are disclosed to a competitor.
c. proprietary information or technology of a business is disclosed.
d. all of the above.
Small children who trespass on land may be owed a special duty of care based on the
doctrine of:
a. caveat emptor.
b. res ipsa loquitur.
c. comparative negligence.
d. attractive nuisance.
Owners of mask works are entitled to the exclusive right to reproduce and distribute
their products under U.S. law for a period of:
a. 10 years.
b. 20 years.
c. 28 years.
d. the life of the creator plus 70 years.
Concerning administrative investigations:
a. agencies are severely limited by the constitutional protection against unreasonable
searches and seizures.
b. a search warrant is always required to search premises.
c. papers and records generally may be subpoenaed by an agency.
d. a person does not have constitutional protection against unreasonable searches and
seizures.
The Administrative Procedure Act is a federal law that establishes the operating rules
for administrative agencies.
If an instrument is payable to alternative payees or if it has been negotiated to
alternative indorsees, it may be indorsed and delivered by either of them.
A license is different from an easement in that it is a personal, revocable privilege to do
something on the land of another.
Unless restricted in the lease, a tenant may generally use the premises for any lawful
purpose for which they are adapted.
The delivery of a check is regarded as an assignment of money on deposit, and the
drawee bank is required to pay the holder the amount of the check.
The two most common instruments used to provide the capital structure of a
corporation are stocks and bonds.
The private life of a nonpublic citizen is subject to public scrutiny.
Oswaldo Enterprises began to do business in a small East African nation. The
representatives of Oswaldo bid on government contracts. Although Oswaldo was by far
the lowest bidder and offered a superior product, the company was not awarded a
contract. Oswaldo officials learned after inquiring that the company would have to give
substantial sums of money to high-level government officials in order to receive a
contract. Oswaldo officials are considering this as a necessary cost of doing business,
but they are concerned about violating U.S. law. Discuss the implications of this under
the Foreign Corrupt Practices Act.
A tenancy by sufferance describes a tenancy that can be terminated at any time upon
proper notice.
In general, a principal is liable for crimes of the agent committed while acting within
the scope of the agency, even if the principal did not authorize commission of the
crimes.