Oral defamation is called:
A. gossip.
B. slander.
C. libel.
D. hearsay.
E. assault.
Opinion research indicates that the public’s highest concern regarding regulation of
industry is:
A. expansion of industry into protected areas.
B. control of toxic and hazardous chemicals.
C. movement of industry to less-regulated countries.
D. land encroachment in national parks.
E. the transfer of toxic materials to developing countries.
The NLRB has jurisdiction over:
A. governmental employees.
B. persons covered by the Railway Labor Act.
C. agricultural laborers.
D. employees of private transportation enterprises.
E. independent contractors.
The _____ limits all exercise of property over resources to a duration of “lives in being
plus twenty-one years.”
A. rule of transaction
B. rule against perpetuities
C. rule of first possession
D. rule against lateral transfers
E. rule against eventualities
The Taft-Hartley Act provides injunction power against:
A. all strikes and lockouts.
B. strikes and lockouts that create a national emergency.
C. strikes and lockouts that involve interstate sale of goods.
D. shutdown of companies in cases involving natural disasters.
E. mass layoffs by companies in cases involving right sizing
The _____ holds that contracts or conspiracies in restraint of trade are illegal only if
they constituted undue or unreasonable restraints of trade and that only unreasonable
attempts to monopolize are covered by the Sherman Act.
A. rule of per se illegality
B. Parker v. Brown doctrine
C. rule of reason
D. duty-to-deal doctrine
E. Ker-Frisbie doctrine
When one person, or a very few persons, own all the shares of stock in a corporation, it
is considered a _____ organization.
A. publicly held
B. narrowly held
C. closely held
D. tightly held
E. minority held
In some cases of a breach of contract, a decree of _____ may be made an order by the
court commanding the other party actually to perform a bargain as agreed.
A. consequential damages
B. compensatory damages
C. stare decisis
D. specific performance
E. dicta
A(n) _____ will be enforced by the courts as if it were a judgment of the courts.
A. award
B. submission
C. appeal
D. pleading
E. caucus
Ian owes $5000 to Shirley, which is payable in five instalments at an interest. However,
after two instalments, Ian offers to pay Shirley the entire debt to avoid paying the
interest. Which of the following will take place if Shirley announces that Ian does not
have to pay the debt in further instalments?
A. Waiver
B. Negotiation
C. Release
D. Arbitration
E. Rescission
Supporters of private property contend that adequate property in resources maximizes
_____.
A. gender equality.
B. total resources for each individual.
C. religious devotion.
D. total wealth in society.
E. communal fairness.
Which of the following is true of the Commission of the European Union?
A. It coordinates the policies of the member states in a variety of areas from economics
to foreign affairs.
B. It is composed of elected representatives from each member state.
C. It plays an active role in drafting legislation that has an impact on the daily lives of
its citizens.
D. It has joint power with the Council over the annual budget of the European Union.
E. It consists of individuals who represent the will and interests of the entire EU, rather
than specific national concerns.
In the mid-1970s, the Supreme Court interpreted the Sherman Act to include:
A. services.
B. goods.
C. interstate sale of goods.
D. real estate.
E. stocks.
Which of the following is true of the right to search a person, automobile, or premises?
A. Officers making an arrest do not need a search warrant to search the arrested person.
B. Officers making an arrest need a search warrant to search the immediate area around
that person for weapons.
C. The right to search for evidence is not extended to the premises of persons not
suspected of criminal conduct.
D. Building inspectors have the right to inspect for building code violations without a
warrant if the owner of the premises objects.
E. A warrantless inspection of commercial premises is unconstitutional and violates the
Fourth Amendment.
Export controls:
A. function in the same way as import controls.
B. are placed on U.S. products and technology abroad.
C. are the confiscation of foreign-owned property by a government.
D. are similar to nationalization.
E. are the power of eminent domain.
Barney takes his wife Betty to a Porsche dealership and tells her to pick out whichever
car she wants as a birthday present. She chooses a red Boxter. Barney negotiates a price
with the dealership and signs a contract paying cash for the car. Barney repeatedly tells
the dealer that the car is a gift for his wife. The car is to be serviced and picked up at
10:00 a.m. the next morning. Barney dies that night. When Betty arrives at the
dealership to get the car, they refuse to give it to her because only Barney signed the
contract.
A. Betty is entitled to the car as a creditor beneficiary.
B. Betty is entitled to the car as a donee beneficiary.
C. Betty is entitled to the car as an incidental beneficiary.
D. Betty is not entitled to the car but can get the money back.
E. Betty is not entitled to the car as it was a gift without any consideration.
Stanley offers Rachel $60 to take care of his dog when he is traveling. Rachel accepts
Stanley’s offer, but delegates the duty to her neighbor, Ashley. In this assignment,
Rachel is the _____.
A. assignee
B. obligee
C. obligor
D. beneficiary
E. assignor
In determining whether a particular use is a fair one, a court will consider which of the
following?
A. The distinctiveness of the copyright.
B. The amount of profit expected by the user claiming the fair use.
C. The amount and substantiality of the portion used in relation to the copyrighted work
as a whole.
D. The royalties awarded to the inventor before using the copyright since copyright
laws protect inventors.
E. The degree of damage caused.
_____ is a level of performance below what is reasonably acceptable.
A. Breach of contract
B. Material breach
C. Complete performance
D. Substantial performance
E. Quantitative performance
______ opened up many opportunities for business between Costa Rica, El Salvador,
Guatemala, Honduras, Nicaragua, the Dominican Republic, and the United States.
A. North America Free Trade Agreement
B. Central America- Dominican Republic Free Trade Agreement
C. U.S.-Colombia Free Trade Agreement
D. Uruguay Round Agreements
E. Convention on the International Sale of Goods
A prospectus is filed during the:
A. prefiling period.
B. waiting period.
C. preeffective period.
D. posteffective period.
E. elimination period.
The primary federal effort in solid waste management is represented by the _____ Act.
A. Waste and Resource Reclamation
B. Solid Waste Disposal
C. Landfill Management
D. National Environmental Policy
E. National Solid Waste Management
Which of the following statements holds true for the manifest system of hazardous
waste disposal?
A. It assesses penalties for failure to comply with the provisions of RCRA.
B. It refers to the software packages used for aggregating data for optimization of
operations for waste collection.
C. It prescribes various record-keeping requirements for waste disposal.
D. It obligates the generator to determine whether its wastes qualify as hazardous.
E. It requires the generator to prepare a manifest document that designates a licensed
facility for disposal purposes.
Investigative consumer reports detailing a consumer’s character, general reputation, and
mode of living are:
A. allowed under the FCRA without restriction should the consumer apply for credit,
insurance, or a job.
B. allowed under the FCRA with three days’ advance notice to the consumer should the
consumer apply for credit, insurance, or a job.
C. allowed under the FCRA with five days’ advance notice to the consumer should the
consumer apply for credit, insurance, or a job.
D. expressly prohibited under the FCRA because these are not credit-related issues.
E. expressly prohibited under the FCRA because it violates the right to privacy of the
consumer.
Which of the following is an example of conversion?
A. An employee borrowing the annual report from the firm’s library.
B. Donald returns Larry’s car in the same condition as it was in when he had borrowed
it.
C. Scott publishes untrue statements about his manager in the company’s newsletter.
D. Ruth purchases a cell phone from Sandra, not knowing that Sandra stole the cell
phone.
E. Donna has left her horse in Terry’s care, who cares for it and rides it without Donna’s
permission.
Larry loses his watch in a city park. Frieda finds the watch lying in the grass while
strolling through the park. Frieda discovers Larry’s name and address engraved on the
back of the watch. Which of the following is correct (assume no city statutes exist
regarding lost property)?
A. Frieda may keep the watch because it is a misplaced property.
B. Frieda may keep the watch because it is a lost property.
C. Frieda must contact Larry and tell him that she has his watch.
D. Frieda must turn the watch over to whoever runs the park.
E. Larry may sue Freida for the watch.
Which of the following statements holds true for the good-faith meeting-of-competition
defense as permitted by the Robinson-Patman amendment?
A. It applies to a situation when sellers may select their own customers in good-faith
and not in restraint of trade.
B. It applies to a situation when there could be price differentials based on differences
in the cost of manufacture, sale, or delivery of commodities.
C. It applies to a situation which involves the setting up barriers to market entry around
a product, brand, product line, market, or market segment.
D. It applies to a situation when a seller in good faith may meet the equally low price of
a competitor.
E. It applies to a situation when price changes may be made in response to changing
conditions such as sales in good faith in discontinuance of business in the goods
concerned.
Which of the following is included in the finance charge?
A. Application fees charged to all applicants for credit.
B. Charges for unanticipated late payments, exceeding a credit limit, or delinquency.
C. Charges imposed by a financial institution for paying items that overdraw an
account.
D. Fees charged for participation in a credit plan.
E. Fees for appraisals.
Who developed the social contract theory?
A. John Rawls
B. Immanuel Kant
C. John Locke
D. Jack Sheppard
E. Plato
The ADA specifies that in evaluating undue hardship, all of the following must be
considered EXCEPT:
A. the availability of other employment for the disabled person.
B. the cost of accommodation.
C. the resources of the employer.
D. the nature of the business.
E. the size of the employer.
Daniel’s failure to deliver ice-cream makers and waffle makers on time, resulted in a
two-week delay in the opening of Sheena’s new ice-cream parlor. Sheena incurred a
heavy loss since she had to pay the rent for those two weeks, as well as salaries to the
personnel hired. Which of the following damages can Sheena claim from Daniel for
breach of contract?
A. Liquidated damages
B. Consequential damages
C. Compensatory damages
D. Nominal damages
E. Negotiated damages
The eminent domain clause is contained in:
A. Article I of the Constitution.
B. the Fifth Amendment to the Constitution.
C. state property codes.
D. state constitutions, but not the federal Constitution.
E. the Declaration of Independence.
A collection of legislations passed by the Congress on the same subject are called:
A. statutes.
B. jurisprudence.
C. staredecisis.
D. codes.
E. citations.
When a tenant in common dies, his or her share of the property _____.
A. passes to the state government
B. passes to the remaining tenants in common
C. passes to the highest bidder in an estate auction
D. passes to the federal government
E. passes to his or her heirs
