The uninsured motorist coverage only covers when the accident is an insured’s fault.
The National Labor Relations Board oversees union elections.
Certified checks become stale after two years from the date of their issue.
Accountants can be named as defendants in lawsuits that assert violations of the
Racketeer Influenced and Corrupt Organizations Act (RICO).
Specific performance of personal service contracts is not granted.
The theory of moral minimum advocates making profit even while causing harm to
others.
An illusory promise is an example of a contract that lacks consideration.
Workers’ compensation acts bar injured workers from suing responsible third parties to
recover damages.
Franchisors are not permitted to disclose trade secrets and product formulas to
franchisees.
Trusts are used to transfer property that is to be held and managed for the benefit of
another person or persons.
A joint tenant does not have the right to sell or transfer his or her interest in the
property.
Under the doctrine of comparative negligence, if the defendant is 50 percent responsible
for injuries worth $10,000 suffered by the plaintiff, then the defendant must pay $5,000
in damages.
Chapter 13 discharges are granted to debtors before their plans of payment begin.
Parties to a contract agree upon liquidated damages after the contract has been
breached.
If the conditions are met, a qualified promise becomes a covenant.
The ________ was a document that restricted the newly created U.S. federal
government from levying and collecting taxes, regulating commerce with foreign
countries, and regulating interstate commerce.
A) U.S. Constitution
B) Declaration of Independence
C) Bill of Rights
D) Articles of Confederation
________ is a general rule of corporate law that provides that generally shareholders
are liable only to the extent of their capital contributions for the debts and obligations of
their corporation and are not personally liable for the debts and obligations of the
corporation.
A) Limited-purpose clause
B) Limited liability of shareholders
C) Preferred shareholder rule
D) Nonparticipating shareholder rule
Which of the following does a health care directive outline?
A) which lifesaving measures the signor does and does not want
B) what treatments are to be withdrawn if doctors determine there is no hope of a
meaningful recovery
C) why the signor has decided to withdraw life-support systems
D) who is to make all health care decisions in accordance with the living will on behalf
of the signor
What happens if the name of the indorsee or payee is misspelled in an indorsement?
A) The instrument becomes nonnegotiable.
B) The instrument can be indorsed with the misspelled name.
C) The instrument has to be remade to be valid.
D) The instrument cannot be subsequently indorsed.
The ________ Act is a federal statute enacted by Congress to improve corporate
governance.
A) Brown-Kaufmann
B) Lanham
C) Glass-Steagall
D) Sarbanes-Oxley
Which of the following is true of an ownership of real property that is fee simple
absolute?
A) It cannot be inherited.
B) It terminates based on the occurrence or nonoccurrence of a specified event.
C) It is infinite in duration.
D) It cannot be transferred at will.
Tim has been approached by Kent regarding the payment of Tim’s credit card bill. Kent
says he is acting on behalf of the bank to get assurance that Tim will pay the bill within
a specific period of time. Kent is an outside agent who is not an employee of the bank.
Which of the following legislations has the bank violated by contracting Kent to contact
Tim?
A) Fair Credit Reporting Act
B) Fair and Accurate Credit Transactions Act
C) Fair Credit and Charge Card Disclosure Act
D) Fair Debt Collection Practices Act
A group of students organizing a protest march demanding that the government be
overthrown would be an instance of ________ speech.
A) limited protected
B) prohibited
C) unprotected
D) fully protected
In the event of Jane and Will opting for a divorce, Will’s stocks and bonds would be
considered to be a part of ________.
A) Jane’s separate property
B) the couple’s marital assets
C) Will’s separate property
D) the couple’s separate property
Which of the following statements is true of the Statute of Frauds?
A) An executory contractthat is not in writing even though the Statute of Frauds
requires it to be is enforceable by either party.
B) Executed oral contracts that should have been in writing under the Statute of Frauds
can be rescinded.
C) If an oral contract that should have been in writing under the Statute of Frauds is
already executed, either party may seek to rescindthe contract.
D) Most states require contracts to pay compensation for services rendered in
negotiating the purchase of a business to be in writing.
Which of the following is a form of unprotected speech?
A) offensive speech
B) defamatory language
C) commercial speech
D) political speech
An employee of a company that provides ________ insurance to its employees can
receive payments, as provided by the policy, for injuries suffered by employees while
working on the job.
A) disability
B) life
C) homeowner’s
D) standard fire
Martha draws a check payable to the order of Stella. Stella indorses the check to Karen.
But Leslie steals the check from Karen, forges Karen’s indorsement, and cashes the
check at a liquor store. Who is liable on the check?
A) the liquor store
B) Martha
C) Stella
D) Leslie
Which of the following is true of the Federal Trade Commission (FTC)?
A) The FTC can only sue in state courts.
B) The FTC’s decision can be appealed in a state court.
C) The FTC can sue to obtain compensation on behalf of the consumer.
D) The FTC is not allowed to directly disclose its findings to the public.
________ are established by the legislative and executive branches of the federal and
state governments to enforce and interpret statutes enacted by the Congress and state
legislatures.
A) Commissaries
B) State courts
C) Administrative agencies
D) Councils