A risk utility analysis requires showing that a product is more dangerous than the
ordinary consumer would expect.
A complainant can file his or her claim of discrimination with a state fair employment
practices agency instead of the Equal Employment Opportunity Commission (EEOC).
Even in an emergency situation, a warrantless search conducted by an administrative
agency constitutes a violation of the Fourth Amendment.
A partial transfer of a tenant’s rights under a lease is known as an assignment.
The doctrine of adverse possession requires the delivery of deed for transfer of property
to be valid.
A creditor-debtor relationship between a customer and a bank is created if the customer
writes a check against his or her checking account.
Shareholders cannot seek an injunction against an ultra vires act by a corporation.
Parties are not allowed to argue against the imposition of jurisdiction by a court.
Unless otherwise expressly stated, an auction is considered an auction with reserve.
The process of liquidating a partnership’s assets and distributing the proceeds to satisfy
claims against the partnership is known as winding up.
Which of the following is an example of delivery of goods without moving them?
A) a contract requiring a document of title
B) a shipment contract
C) a destination contract
D) a contract with the term ex-ship
________ is a duty owed by a member of an LLC (limited liability company) to not act
adversely to the interests of the LLC.
A) Duty of discharge
B) Duty of restitution
C) Duty of loyalty
D) Duty of resolution
The filing of either a voluntary petition or an unchallenged involuntary petition
constitutes a(n) ________.
A) prayer for relief
B) discharge
C) order for relief
D) composition
A(n) ________ is a document that grants a person the right to enter on another’s
property for a specified and usually short period of time.
A) title insurance
B) easement
C) license
D) deed
Which of the following top-level domain name extensions is most commonly used by
ISPs, Web-hosting companies, and other businesses that are directly involved in the
infrastructure of the Internet?
A) .net
B) .com
C) .biz
D) .org
A(n) ________ is a written law enacted by the legislative branch of the federal and state
governments that establishes certain courses of conduct to which covered parties must
adhere.
A) charter
B) treaty
C) executive order
D) statute
A ________ is a limited partnership with liquid investment, and whose limited
partnership interests are traded on organized securities exchanges such as the New York
Stock Exchange.
A) limited liability limited partnership
B) sole proprietorship
C) foreign limited partnership
D) master limited partnership
What is a judicial decision?
A) a decision issued by the executive branch in a state of emergency
B) a decision about an individual lawsuit issued by a federal or state court
C) a codified law passed by the state legislature
D) a decision issued by the legislative branch to establish courses of conduct to which
covered parties must adhere
Which of the following is true of a substantive rule?
A) It interprets existing statutory language.
B) It does not have the force of law and is only issued as a guideline.
C) Substantive rules are exempt from judicial review.
D) Violators can be held criminally liable.
Instead of depositing an “on them” check for collection, a depositor can physically
submit the check for payment at the payer bank. This is called ________.
A) provisional credit
B) indorsement of the check
C) presentment across the counter
D) final settlement
Which of the following is true of Social Security?
A) Social Security operates like a savings account.
B) Contribution to the Social Security fund is entirely made by employers.
C) Employers remit Social Security payments to the Internal Revenue Service.
D) Self-employed individuals are exempt from Social Security payments.
Instead of suing the partnerships or other partners at law, general partners are given the
right to bring a(n) ________ against other partners.
A) claim for damages
B) tort action
C) call for action
D) action for an accounting
Transfer warranties would be applicable to which of the following placements of a
negotiable instrument?
A) indorsement
B) issuance
C) presentment
D) accommodation