A proxy card authorizes another person to vote the shareholder’s shares.
Any age below the statutory age of majority is called the period of minority.
Mitigation of damages is a nonbreaching party’s legal duty to avoid or reduce damages
caused by a breach of contract.
Civil liability under Section 11 is imposed on issuers who are negligent in not
discovering the fraud in their security offerings.
An offer to create a unilateral contract can be revoked by the offeror any time prior to
the offeree’s performance of the requested act.
The recovery for breach of contract is usually limited to contract damages.
Courts can apply a consumer expectation test to evaluate the adequacy of a product’s
design.
If a person did not have knowledge that his representation of facts was false, he is still
liable for fraud.
Title VII of the Civil Rights Act was intended to eliminate job discrimination based on
race, color, national origin, sex, and religion.
Kurt, a computer sales representative, ran a small restaurant business from his home to
supplement his income. He converted his large living room into an eatery with minimal
seating. His mother and brother managed the kitchen, while he coordinated orders and
waited upon customers. Upon realizing that Kurt was running a restaurant, the landlord
evicted Kurt and his family. In the scenario, we can infer that ________.
A) Kurt received the rented property in conditions that were uninhabitable
B) Kurt was evicted for using the rented property for illegal or nonstipulated purposes
C) Kurt failed to comply with the building codes of the area in which he lived
D) Kurt failed to claim his freehold estate on the rented property within the stipulated
period
Bertha, a surgeon, performed a kidney transplant on one of her patients. The surgery
was not successful and the patient did not survive. Which of the following statements is
true in this case?
A) Bertha cannot be held strictly liable as she is providing a service.
B) Bertha can be held strictly liable for the death of her patient.
C) Bertha and the medical staff assisting in the surgery are strictly liable for the death.
D) The donor of the kidney can be held strictly liable for the death of the patient.
Which of the following methods of acquiring ownership is least used today?
A) purchase
B) capture
C) gift
D) production
________ is an event that occurs when one person consciously decides to induce
another person to rely and act on a misrepresentation.
A) Fraudulent misrepresentation
B) Unilateral mistake
C) Bilateral mistake
D) Erroneous misrepresentation
Which of the following amendments to the U.S. Constitution protects criminal
defendants from cruel and unusual punishment and also protects criminals from torture?
A) Fifth Amendment
B) Eighth Amendment
C) Fourth Amendment
D) Fourteenth Amendment
Which of the following is true of defensive measures against a tender offer?
A) A company is not permitted to use media campaigns to convince shareholders
against the tender offer.
B) A company can file a lawsuit alleging violation of antitrust laws against the tender
offer to gain time.
C) A reverse tender offer cannot be made as long as a tender offer is active.
D) A company can adopt only a flip-over and not a flip-in rights plan against the tender
offer.
Mr. Raynold writes a will placing his estate in a trust on his death. He names a local
bank as the trustee to administer the trust and invest its assets. The trust provides that
when his grandson reaches the age of 23, the trust will terminate, and he will be given
legal title to the assets. Mr. Raynold dies when the grandson is 12 years old. At the age
of 23, the grandson inherits the title to the assets. What kind of trust is created by Mr.
Raynold in this scenario?
A) an inter vivos trust
B) a testamentary trust
C) a constructive trust
D) a resulting trust
The U.S. Supreme Court has held that sexual harassment that creates a hostile work
environmentviolates ________.
A) Title VII of the Civil Rights Act
B) Fair Employment Practices Act
C) Title II of Genetic Information Nondiscrimination Act
D) Title I of the Americans with Disabilities Act
A(n) ________ is a clause that can be included in the articles of incorporation that
stipulates the activities that the corporation can engage in. The corporation can engage
in no other purposes or activities.
A) ultra vires clause
B) dissolution clause
C) general purpose clause
D) limited purpose clause
Which of the following pairs of constitutional provisions gives the federal government
the authority to regulate foreign affairs?
A) the Due Process Clause and Double Jeopardy Clause
B) the Supremacy Clause and the Equal Protection Clause
C) the Free Exercise Clause and the Establishment Clause
D) the Foreign Commerce Clause and the Treaty Clause
The ________ is a rule that says that an accountant is liable only for negligence to third
parties who are in privity of contract or in a privity-like relationship with the
accountant.
A) foreseeability standard
B) Ultramares doctrine
C) due diligence defense
D) disclaimer of opinion
A ________ is an arrangement in which two or more business entities combine their
resources to pursue a single project or transaction.
A) limited partnership
B) license agreement
C) joint venture
D) franchise
Under the ________ test, the principal is liable for any intentional torts committed by
an agent during working hours on the principal’s premises.
A) work-related
B) motivation
C) promotional
D) self-dealing
According to ethical relativism, ________.
A) ethics rely on duties based on universal rules one is morally bound to follow
B) each person is presumed to have entered into a social contract with all others in
society to obey ethical rules
C) there are no universal ethical rules to guide a person’s conduct
D) people must choose an action or follow a rule that provides the greatest good to
society
An oral will that is made before a witness during the testator’s last illness is defined as a
________.
A) holographic will
B) nuncupative will
C) living will
D) joint will
What is acquiring secondary meaning in trademark terms?
A) when a mark that resembles a mark already registered with the federal PTO is used
for a new product or service
B) when descriptive words are used that have no direct relevance to a product or service
C) when ordinary words establish new meaning due to its attachment to a product or
service
D) when a distinctive mark or design is created for a new product or service
Which of the following is true of tort liability of a general partnership?
A) Only the partner who committed the tort is liable.
B) Partners who have not committed the tort but had to pay liability cannot indemnify
from the partner that committed the tort.
C) A partner can be sued even if he or she did not participate in the commission of the
tort.
D) If one of the partners in the partnership is released, the other partners are discharged
of liability.
A per se violation of Section 1 of the Sherman Act that occurs when a party at one level
of distribution enters into an agreement with a party at another level to adhere to a price
schedule that either sets or stabilizes prices is referred to as ________.
A) group boycotts
B) horizontal price fixing
C) resale price maintenance
D) nonprice vertical restraints
Explain the preexisting duty principle in private sector contracts.
Explain in detail the risk of loss in lease contracts.
Give an account of the Racketeer Influenced and Corrupt Organizations Act (RICO) in
business law.
Give an account of the regulation of medicinal devices in the United States.
Give an account of the funding and operation of a living trust.
What is the importance of title insurance in real property?
What are foreclosure sales?
What is a trade acceptance?