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Misstatement of the insured's age will result in
a. voiding of the policy.
b. possible cancellation of the policy by the insurance company.
c. adjustment of the face value of the policy by the insurance company.
d. none of these.
If a principal tells an agent to falsify income tax returns,
a. the principal cannot be held liable.
b. the agent can be held liable if he or she carries out the principal's orders.
c. both principal and agent can be held liable.
d. none of these.
Crenner, an agent of Alden, injured Bliss through her negligence. Bliss may sue
a. Crenner.
b. Alden.
c. both Crenner and Alden.
d. neither Crenner nor Alden.
After Michael, a minor aged sixteen, purchased a compact disc player from Rollins
Electronics, he decided to return it. Before he got a chance to do so, his little brother
smashed it with a hammer. In order to disaffirm the contract under the majority view, he
a. need only return the damaged compact disc player.
b. must pay for any damage to the compact disc player.
c. must pay for any depreciation to the compact disc player.
d. must pay for any damage and pay for the use of the compact disc player.
The requirements of a contract include
a. a statement that the contract is not voidable
b. a promise of enforceability
c. a precedent
d. agreement, consideration, and other elements
April, who was married before and plans to marry again, can protect the inheritance
rights of her two children by
a. entering into a prenuptial agreement with her intended spouse prior to the marriage.
b. asking her intended spouse to make an oral promise to allow her two children to
inherit as if she (April) were not married.
c. notifying her attorney of her intentions to remarry.
d. doing nothing.
The guest laws relieve a driver of all liability for injuries to
a. all passengers
b. guests unless there is negligence.
c. passengers unless there is any negligence by the driver.
d. none of these.
For an acceptance to be effective,
a. it must be in writing.
b. it must be communicated to the offeror.
c. the offeree must make a down payment.
d. none of these.
The practice of following precedents in deciding later cases is known as
a. stare decisis.
b. equity.
c. statute law.
d. moral law.
Jones, a merchant does not deliver merchandise to customers but instead requires
customers to pick up the merchandise at his place of business. When does risk of loss
pass?
a. When the customer takes physical possession of the merchandise
b. When the contract is made
c. A reasonable time after the purchase is made but before delivery to the customer
d. When the buyer receives a negotiable document of title
Ratification of a contract by a minor may be
a. oral.
b. written.
c. implied from the minor's actions.
d. all of these.
A condominium owner has
a. title to a specific unit in the building.
b. responsibility for property taxes on the unit.
c. ownership by deed.
d. all of these.
In which of the following situations would the courts enforce an oral agreement to pay
extra compensation?
a. A builder promises to complete a contract on the date previously agreed upon if he is
given extra compensation.
b. A police officer promises a neighborhood deli owner that, for a fee, he will keep a
sharp lookout for burglars on the nights that he is on duty.
c. An accountant promises to complete an audit sixty days ahead of time if she is given
extra compensation.
d. In no case will the courts allow the payment of extra compensation when the request
is based on an oral contract.
A constructive bailment means
a. that the bailee must exercise reasonable care.
b. that the bailee must return lost or stolen property to its rightful owner.
c. that the bailee may sell the property if it is not claimed.
d. all of these.
Of the following actions, the one not required to make a will valid is
a. signing the will.
b. witnessing the will.
c. reading the will to a witness.
d. including an attestation clause.
The questioning of a witness for the plaintiff by the attorney for the defendant is called
a. direct examination.
b. cross-examination.
c. indirect examination.
d. redirect examination.
Personal property cannot be acquired by
a. gift.
b. accretion.
c. purchase.
d. abandonment.
Property that may not be seized in bankruptcy is known as
a. garnishee property.
b. attachment property.
c. exempt property.
d. judgment property.
An order instrument is negotiated by
a. delivery alone.
b. indorsement alone.
c. indorsement and delivery.
d. delivery or indorsement.
The result of the jury's agreement in a civil case is known as the
a. judgment.
b. plea.
c. evidence.
d. verdict.
The UCC, Article 2,
a. places increased emphasis on the concept of title.
b. places less emphasis on the concept of title.
c. eliminates the concept of title.
d. none of these.
Barnes made out a check payable to the order of Williams. The amount written in
figures was "$10.00"; the amount written in words was "One hundred and 00/100
dollars." Is this check negotiable? If so, what amount will be paid?
Any risk not covered is known as a deductible.
There is no such thing as an oral note or check.
If a sales contract requires the seller to ship the goods to the buyer, a proper delivery
occurs when the seller places the goods in the possession of a(n)
____________________ and notifies the buyer that the goods have been shipped.
The party who issues a promissory note is called the payee.
