States lack the power to enact antitrust statutes autonomously.
Preferred stockholders are given the right to vote for the board of directors of the
corporation.
A plaintiff must file a claim against an employer within 180 days of the most recent
paycheck violation.
Limited partners are personally liable for the debts and obligations of the limited
liability partnerships (LLP).
The Sarbanes-Oxley Act applies only to public companies.
If the payee of the instrument is not mentioned on the face of the instrument, it is
considered nonnegotiable.
The garnishor is the party that is in possession of the debtor’s property.
Poweroxi Inc. produces rocket propellant fuel that is used in space shuttles. NASA is an
agency that requires rocket propellant fuel to send its rockets to space. NASA enters
into a contract with Poweroxi Inc. to purchase all of the propellant fuel it will need that
year from Poweroxi. What would this contract be an example of?
A) requirements contract
B) output contract
C) option contract
D) yield contract
Which of the following statements is true of the doctrine of quasi contract?
A) It allows a court to award monetary damages to a defendant because no actual
contract existed between the parties.
B) It applies only where there is an enforceable contract between the parties.
C) It is an equitable doctrine intended to prevent unjust enrichment.
D) Agreement between parties to a quasi contract has been inferred from their conduct.
According to officials at the Environmental Protection Agency (EPA), the air inside
buildings is typically the safest as it is free from pollution.
The ________ is a rule that is applicable to restraints of trade considered inherently
anticompetitive.
A) consent decree
B) Noerr doctrine
C) per se rule
D) rule of reason
Under the ________ test, if the agent committed an intentional tort to promote the
principal’s business, the principal is liable for any injury caused by the tort.
A) work-related
B) motivation
C) promotional
D) dual agency
A full warranty is an example of a(n) ________.
A) express warranty
B) disclaimer warranty
C) implied warranty of fitness for a particular purpose
D) implied warranty of fitness for human consumption
What is scienter?
A) knowledge that a representation is false
B) undue influence used on a party to sign a contract
C) another term for duress
D) damages paid to a victim of a scam
Gunther wins a $25,000 judgment against Krissa, and Krissa refuses to pay. Krissa
works for Iniversal Electronics. Gunther obtains a postjudgment writ of garnishment
from the court ordering Iniversal Electronics to pay 25 percent of Krissa’s weekly
disposable earnings directly to Gunther. However, Gunther is not satisfied with this, and
he asks the court to increase Krissa’s pay deduction to 50 percent, which the court
refuses to do. Which federal Act allows Krissa to retain 75 percent or more of her
earnings in a writ of garnishment?
A) Fair Credit Reporting Act
B) Fair Credit Billing Act
C) Title III of the Consumer Credit Protection Act
D) Fair Debt Collection Practices Act
Which of the following is true of the Equal Employment Opportunity Commission
(EEOC)?
A) It can seek injunctive relief.
B) Its members are elected from state legislatures.
C) Its jurisdiction is limited to charges of racial discrimination.
D) It can register a complaint from a person who has filed a discriminatory lawsuit
against the employer.
Laura is an investor and a limited partner in a limited partnership. Two years after she
becomes a limited partner, Laura thinks that the general partners are not doing a very
good job managing the affairs of the limited partnership and participates in the
management of the limited partnership. While she is participating in management, a
bank loans $1 million to the limited partnership, believing that Laura is a general
partner. If the limited partnership defaults on the $1 million loan, which of the
following holds well?
A) Laura is not personally liable as she is a limited partner on paper.
B) Laura is personally liable if the bank, in good faith, thought she was a general
partner.
C) Laura has unlimited personal liability as a limited partner.
D) Laura’s liability is restricted to the value of her capital investment in the partnership.
The ________ prescribes comprehensive and integrated rules of religious, political, and
legal life that together form Jewish thought.
A) Shari’a
B) Torah
C) dharmasastra
D) riba
Which of the following is an example of Web-browsing software?
A) Microsoft Internet Explorer
B) Adobe Acrobat Reader
C) Outlook Express
D) BitTorrent
A(n) ________ is an agreement entered into by the creditor and the debtor whereby the
debtor agrees to pay the creditor for a debt that is dischargeable in bankruptcy.
A) reaffirmation agreement
B) order for relief
C) discharge agreement
D) acceptance agreement