The term ISP refers to users who disguise computer viruses as executable programs and
send them across the Internet.
The income or losses of a Limited liability company (LLC) flow through to the
members’ individual income tax returns, which avoids double taxation.
Under a periodic tenancy system, the notice period is usually the same as the length of
the payment period.
Employers are obligated to provide reasonable accommodations to employees with
disabilities if the accommodations do not cause significant difficulty or expense for the
employers.
A collective membership mark identifies different products in the same product line of
an organization.
The drawee is the party to whom a check is written.
When the drawee bank receives a properly drawn and payable check, the bank is under
a duty to honor the check and charge (debit) the drawer’s account the amount of the
check if there are sufficient funds in the customer’s checking account at the bank.
The intoxicated person is not legally obligated to return consideration, received under
the contract, to the competent party.
Which of the following is true of a joint venture?
A) The parties to a joint venture are considered limited partners.
B) Both parties to a joint venture have equal rights to manage the venture.
C) A joint venture is a partnership that lasts for multiple projects.
D) Parties to a joint venture are exempt from fiduciary duties to each other.
Which of the following is true of a strategic alliance?
A) Strategic alliances cannot have more than two entities.
B) Strategic alliances cannot be formed between fellow competitors.
C) Strategic alliances are usually formed to accomplish multiple business ventures.
D) Strategic alliances do not provide the same protection and stability as mergers.
Paulo Dessario is the owner of Paulo’s Pizzeria, which has not been doing well in the
last year. He files for bankruptcy under Chapter 13. Which of the following is true of
Chapter 13?
A) Paulo must terminate all his business operations in the United States.
B) If the pizzeria is not exempt from the Chapter 13 estate, Paulo must close it.
C) Paulo is allowed to continue operating the pizzeria, whether or not it is exempt.
D) Paulo can only operate the pizzeria but cannot remain in possession of it.
________ is a moral theory which states that people owe moral duties that are based on
universal rules.
A) Rawls’s social justice theory
B) Kantian ethics
C) Utilitarianism
D) Moral relativism
An award of ________ orders the breaching party to perform the acts promised in a
contract.
A) reformation
B) injunction
C) restitution
D) specific performance
Why do courts need to accomplish a service of process?
A) to obtain personal jurisdiction over the plaintiff in a lawsuit
B) to obtain personal jurisdiction over the defendant in a lawsuit
C) to obtain jurisdiction to hear a case where the court has jurisdiction over the property
in the lawsuit
D) to obtain jurisdiction over nonresidents who were not served summons within a state
Which of the following is an intentional tort?
A) breach of duty of care
B) defect in product manufacture
C) disparagement
D) negligence
Which of the following is provided by the National Labor Relations Act of 1935?
A) right to regulate internal affairs of each union
B) right to represent employees according to their sectors of employment
C) right to bargain collectively with employers
D) right to equally represent every union member
A contract that has been fully performed on both sides is called an ________ contract.
A) executory
B) executed
C) option
D) executive
A ________ is a warranty in which the lessor warrants that no person holds a claim or
an interest in the goods that arose from an act or omission of the lessor that will
interfere with the lessee’s enjoyment of his or her leasehold interest.
A) warranty against infringements
B) warranty of good title
C) warranty of quiet possession
D) warranty of no security interests
A(n) ________ is a clause in an instrument that allows the payee or holder to speed up
payment of the principal amount of the instrument, plus accrued interest, upon the
occurrence of an event.
A) acceleration clause
B) prepayment clause
C) extension clause
D) forestallment clause
Who among the following are exempt from child labor restrictions in the United States?
A) children who work as newspaper deliverers
B) children who work at restaurants or fast-food stalls
C) children employed in the performing arts
D) children employed in gasoline stations
A warranty in which the seller warrants that he or she has valid title to the goods he or
she is selling and that the transfer of title is rightful is known as a warranty ________.
A) of no security interests
B) of no interference
C) of good title
D) against infringements
What are the methods and manners of acceptance as defined by the Uniform
Commercial Code (UCC)?
When is an employer required to prove a bona fide occupational qualification? Explain
with an example.
When does a buyer have the right to cancel a sales or lease contract?
Give an account of the express terms that are parts of an offer.
What are the three statutory defenses under the Robinson-Patman Act for price
discrimination?
Briefly explain what is included in a bankruptcy estate.
What is the jurisdiction of the U.S. Supreme Court?
What are licensing statutes?
How is power divided between the federal government and the state governments?
What is a deficiency judgment? Explain, and provide some examples.