1) Refined Grains, Inc., is a Kansas-based firm that does business throughout the world.
Refined Grains manages retail and wholesale operations, buys and sells commercial
venues, undeveloped land, and agricultural products, and other goods. Refined Grains
has had to deal with employee and customer theft. With respect to these circumstances,
the Uniform Commercial Code (UCC) provides a framework for
a.commercial transactions for the sale of and payment for goods.
b.international distribution agreements.
c.domestic and foreign transactions in real estate.
d.prosecuting crimes against business interests.
2) A merger between Blended Coffee Corporation and Cowland Creamery Inc. can be
expressed as Blended Coffee + Cowland Creamery =
a.Cowland Creamery.
b.Delite Dairy Corporation.
c.Delite Dairy Corporation + EZ Stir & SipInc.
d.EZ Stir & Sip Inc.
3) Livia takes temporary family leave from her job at Meatpackers Corporation to care
for a new baby. On Livia’s return from the leave, Meatpackers must
a.restore Livia to her original position.
b.reimburse Livia for her expenses while on leave.
c.promote Livia to the status of a key employee.
d.do nothing.
4) Brick & Mortar Stores, Inc., signs a lease for a storefront owned by Commercial
Properties, Inc. Unlike a purchaser of real property, Brick & Mortar
a.acquires only temporary possession of the premises.
b.enjoys exclusive possession of the premises.
c.holds only temporary title to the premises.
d.retains temporary, exclusive possession and title to the premises.
5) Delia files a suit against Eduardo in a Florida state court over the ownership of a boat
docked in a Florida harbor. Both Delia and Eduardo are residents of Georgia. Eduardo
could ask for a change of venue on the ground that Georgia
a.has a sufficient stake in the matter.
b.has jurisdiction.
c.has sufficient minimum contacts with the parties.
d.is a more convenient location to hold the trial.
6) Ross, a research manager for Stock & Bond Investments, Inc., adheres to utilitarian
ethics. Ross will determine that an action is morally correct when it produces the
greatest good for
a.Ross.
b.Stock & Bond Investments.
c.the fewest people.
d.the most people.
7) As the trustee of a business trust, Bertoldi is required to
a.distribute the trust’s profits.
b.assume responsibility for the trust’s debts.
c.draft a written trust agreement.
d.none of the choices.
8) Steel Production Industries, Inc., employs five hundred workers. For the
Occupational Safety and Health Administration, Steel Production must do all of the
following except
a.keep occupational injury and illness records for each employee.
b.report any work-related diseases.
c.report any employee death due to a work-related incident within eight hours.
d.pay employees higher wages for working in more dangerous areas.
9) In contemplation of death during surgery, Donnelly gives his guitars to Ezri. The
surgery is successful, and Donnelly recovers from the operation. The gift of the guitars
is
a.not revoked because it was a gift causa mortis.
b.not revoked because it was a gift inter vivos.
c.revoked because it was a gift causa mortis.
d.revoked because it was a gift inter vivos.
10) Duke signs a note “payable to the order of Equity Bank.” Unless Duke has a valid
defense against payment, his liability on this note is
a.impaired.
b.primary.
c.secondary.
d.qualified.
11) Like most successful companies, Pads & Phones, Inc. (P&P), has trade secrets. The
law protects those secrets if
a.P&P employees do not divulge the information to outside parties.
b.P&P employees do not handle confidential documents.
c.P&P employees never leave the company’s employ.
d.the information is unique and has value to a competitor.
12) Truck & Transfer Inc. agrees to pick up two containers for United Home Products
Corporation and store their contents, to be delivered later. While Truck & Transfer un-
loads one container, the other disappears from the company’s loading dock.
These facts give rise to
a.a presumption of negligence by Truck & Transfer.
b.a presumption of theft by a third party.
c.a presumption of theft by Truck & Transfer.
d.United Home’s liability for the container’s loss.
13) There are three broad classifications of torts: intentional torts, unintentional torts,
and accidental torts..
14) Negotiating order instruments requires either delivery or indorsement but not both.
15) A person who takes a negotiable instrument from a thief cannot become an HDC
even if he or she acted honestly in the process of acquiring the instrument.
16) As long as a contract is personal in nature, all rights under the contract can be
assigned.
17) Cybersquatting occurs when key words are inserted into the hyper text markup
language code to tell Internet browsers specific information about a Web page.
18) Liquidated damages provisions usually are enforceable.
19) A court is not likely to allow an exception to the preexisting duty rule even if
extraordinary difficulties arise that were totally unforeseen at the time a contract was
formed.
20) An innocent party can rescind a fraudulent contract and be restored to his or her
original position.
21) Anything that an agent obtains by virtue of the employment or agency relationship
is his or hers to keep.