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Article 2A of the UCC deals with lessors and lessees.
A person who leases a single-family dwelling and does not own more than three
single-family dwellings does not come under the purview of the Fair Housing Act of
1968.
The federal Currency Reporting Law requires financial institutions and other entities to
file a Currency Transaction Report (CTR) with the Internal Revenue Service (IRS) in
the event of the detection of suspected criminal activity by bank customers involving a
financial transaction of $1,000 or more in funds.
A merger clause stipulates that the contract is a complete integration and the exclusive
expression of the parties' agreement.
To be liable for consequential damages, the breaching party need not know nor have
reason to know that the breach will cause special damages to the other party.
The property in which a security interest is taken is called collateral.
A nonmanager member of an LLC (limited liability company) is not entitled to
remuneration for services performed for the LLC at any time.
A certificate of deposit is an order to pay.
Plaintiffs can allege multiple product defectsin one lawsuit.
Bankruptcy petitions cannot be filed by the debtor without the assistance of an attorney
or filing service.
The World Trade Organization (WTO) panel adopts a panel report and issues remedies
if a violation is found.
Licensing refers to a business arrangement that occurs when the owner of intellectual
property contracts to permit another party to use the intellectual property.
A government or political party that strictly derives its ethics and laws based on a
specific religious book is an example of ________.
A) utilitarianism
B) ethical fundamentalism
C) ethical relativism
D) Kantian ethics
Which of the following acts establishes minimum wage and overtime pay requirements
for workers in the United States of America?
A) Occupational Safety and Health Act
B) Fair Labor Standards Act
C) Family and Medical Leave Act
D) Consolidated Omnibus Budget Reconciliation Act of 1985
The Occupational Safety and Health Administration (OSHA) is a federal administrative
agency within the Department of Labor that is empowered to enforce the Occupational
Safety and Health Act.
Which of the following moral theories lays emphasis on morality based on one's moral
duties?
A) moral relativism
B) utilitarianism
C) Kantian ethics
D) ethical fundamentalism
Which of the following statements is true about the Federal Arbitration Act (FAA) of
1925?
A) The FAA restricts parties from obtaining a court order to compel arbitration with an
arbitration agreement.
B) The FAA restricts federal courts from hearing issues of law that have been decided
by an arbitrator.
C) The FAA provides that arbitration agreements involving commerce are revocable
contracts under ordinary circumstances.
D) Breach of contract cases and tort claims are not candidates for arbitration as per the
FAA.
In this situation, what kind of child custody claims, if any, would Colton have on the
child?
A) joint physical custody
B) joint custody
C) no custody; supervised visitation rights
D) no custody; ordinary visitation rights
Who is the acceptor of a draft in a draft transaction?
A) the drawer
B) the drawee
C) the payee
D) the financee
________ laws are federal and state statutes and regulations that promote product safety
and prohibit abusive, unfair, and deceptive business practices.
A) Profit--prendre
B) Canon
C) Consumer protection
D) Caveat emptor
A ________ is a person who agrees to pay a debt if the primary debtor does not.
A) secondary contractor
B) third-party contractor
C) lessee
D) guarantor
Which of the following is true of the Administrative Procedure Act?
A) It was enacted following the September 11, 2001 terrorist attacks.
B) It establishes how rules and regulations can be adopted by federal administrative
agencies.
C) It provides for a uniform legal and justice system across the United States.
D) It divides administrative power between the federal legislative branch and state
legislatures.
________ is a type of ownership of real property that grants the owner the fullest
bundle of legal rights that a person can hold in real property.
A) Fee simple absolute
B) Life estate
C) Servient estate
D) Fee simple defeasible
A ________ is an order of the court that enables a government officer to seize property
of the breaching party and sell it at auction to satisfy a judgment.
A) writ of attachment
B) writ of garnishment
C) specific performance
D) liquidation of damages
What changes did the Dodd-Frank Wall Street Reform and Consumer Protection Act
make to reform lending regulation?
What is a key-person life insurance? How does it influence a buy-sell agreement?
What is an EB-1 visa? Who qualifies for it?
Explain Section 552 of the Restatement (Second) of Torts.
Explain the concept of reasonable accommodation of disabled employees. When is an
employer not obligated to provide such accommodation?
