Hostile tender offers are tender offers made without the permission of the target
company’s management.
A civil lawsuit does not require a unanimous jury vote.
A requirements contract is a contract in which a buyer agrees to purchase all of its
requirements for an item from one seller.
The exclusionary rule allows for evidence obtained from an unreasonable search and
seizure to be introduced in trial.
The primary purpose of the Constitutional Convention of 1787 was to limit the power
of the federal government of America and restrict it from levying or collecting taxes.
A contract with an intoxicated person is not voidable by the other party if that party had
contractual capacity.
In a concurrent condition, each party’s duty to perform is conditioned on the other
party’s duty to perform.
The preexisting rule allows for midstream changes to be enforceable in a contract.
Software developers and other computer professionals generally cannot claim overtime
pay under federal law.
No monetary damages can be claimed between partners for breach of duty of obedience
in a general partnership.
Middlemen and finders are not considered dual agents.
Which of the following is true of union security agreements?
A) Under a closed shop agreement, an employer hires workers who are not part of any
union.
B) Under an agency shop agreement, an employer only hires workers who agree to not
join any union.
C) An employee hired under a union shop agreement is represented by more than one
union.
D) Dues checkoff refers to the deduction of union dues and agency fees from
employees’ wages.
A person driving over the prescribed speed limit in a suburban area hits and injures a
pedestrian jaywalking against a red “Do Not Walk” sign. The jury finds that the driver
holds 80 percent of the responsibility for the accident and the jaywalker holds 20
percent of the responsibility. The pedestrian suffered $100,000 in injuries. If the state in
which this case is heard adopts the doctrine of contributory negligence to interpret such
cases, the pedestrian is entitled to recover ________.
A) $20,000 from the driver
B) $80,000 from the driver
C) $100,000 from the driver
D) no damages from the driver
Which of the following does the Federal Trade Commission (FTC) franchise rule
require from franchisors?
A) registration of the disclosure document with the FTC before it is used
B) full presale disclosures to prospective franchisees nationwide
C) statement to fully finance the infrastructure necessary to bring the franchisee to the
franchisor’s standard
D) disclosure of license agreement made with franchisee that lets the franchisee use the
franchisor’s service mark
A ________ is a situation in which a person holds an interest in another person’s
property without actually owning any part of the property.
A) present possessory interest
B) future interest
C) reversion
D) nonpossessory interest
Tilda purchases an automobile from Ronston. At the time of sale, Ronston tells Tilda
that the car has had only one previous owner and has been driven only 25,000 miles.
Tilda, relying on these statements, purchases the car. She pays 10 percent down and
signs a promissory note to pay the remainder of the purchase price, with interest, in
fifteen equal monthly installments. Ronston transfers the note to Patty. Tilda then
discovers that the car has actually had three previous owners and has been driven
250,000 miles. Which of the following is the legal outcome if Patty is a holder in due
course (HDC)?
A) Tilda must pay Patty; find recourse with Ronston.
B) Patty must pay Tilda; find recourse with Ronston.
C) Patty pays no one; indorsement is considered void.
D) Tilda can rescind the note; refuse to pay Patty.
Mike deposited $100,000 in a bank and procured a certificate of deposit on it, payable
to himself, for repayment in five years with a five percent interest rate. A year after that,
Mike borrowed $25,000 from Jill, and gave her a promissory note to repay it in one
year. As collateral, Mike gave Jill the certificate of deposit and asked to put in a
prepayment clause, to which Jill agreed. They agreed that Mike could repay in monthly
payments, as mentioned in the note. What kind of promissory note have Jill and Mike
decided on?
A) a time note
B) a bearer’s note
C) a mortgage note
D) an installment note
The remains of the process by which nuclear power is generated in a reactor are most
likely to be classified as ________.
A) oil-spilled pollutants
B) inert elements
C) pesticides
D) hazardous wastes
________ says that if a written contract is a complete and final statement of the parties’
agreement, any prior or contemporaneous oral or written statements that alter,
contradict, or are in addition to the terms of the written contract are inadmissible in
court regarding a dispute over the contract.
A) Main purpose exception
B) Leading object exception
C) Parol evidence rule
D) Promissory estoppel
Which of the following is true of the process of eminent domain?
A) It does not allow the property owner to make a case for keeping the property.
B) It requires payment of compensation by the government.
C) It does not apply to state and local governments.
D) It allows the government to set up zoning areas.
An indorsement that contains some sort of instruction from the indorser is known as a
________.
A) nonrestrictive indorsement
B) restrictive indorsement
C) qualified indorsement
D) special indorsement