Transfer restrictions:
a. must be noted on the stock to be valid.
b. are generally valid only in family-owned corporations.
c.cannot be used to satisfy SEC restrictions.
d.none of the above
The EPA’s emissions offset policy:
a. is used in water pollution issues.
b. does not include the “bubble concept.”
c.is not technology-forcing.
d.none of the above
Who did President Obama appoint to oversee the spending under the American
Reinvestment and Recovery Act?
a. Hillary Clinton
b. Mike Espy
c. Earl Devaney
d. Richard Scrushy
John: “I will sell you my laptop computer for $330.” Mary: “Will you include the
carrying case”?
John: “Sold.”
a. There is a contract for the sale of the computer with the carrying case.
b. There is a contract for the sale of the computer but the carrying case is not included.
c.There is no contract for the sale of the laptop computer.
d.There is a contract but it is unenforceable because it must be in writing. e. none of the
above
An ad in a newspaper reads: “AVAILABLE TODAY ONLY. FRIENDLY’S
APPLIANCES. CLEARANCE SALE FOR ALL FLOOR ITEMS. 75% OFF RETAIL
PRICES.” Joan Ludwig arrived at Friendly’s about one hour after it opened and there
were no appliances left. The issues in the situation are governed by:
a. The Uniform Commercial Code
b. UETA
c.common law
d.restatement of contracts e. none of the above
A LLP can be created by implication.
a. True
b. False
Which type of visa allows companies to make intracompany transfers of employees
working in other countries and will be on temporary assignment?
a. H-1
b. H-1B
c.HIV-1
d.L-1
“This car has the finest workmanship money can buy” is an example of an express
warranty.
a. True
b. False
Section 1 of the Sherman Act covers monopolization.
a. True
b. False
Public notice of termination of an agent is not required.
a. True
b. False
The Uniform Commercial Code and the Uniform Partnership Act are both enactments
of Congress.
a. True
b. False
Which of the following is not an antitrust violation so long as there is sufficient
interbrand competition?
a. resale price maintenance
b. sole outlets and exclusive distributorships
c.price discrimination
d.all of the above
A question about a licensing exam for a real estate agent is best answered by going to
federal laws.
a. True
b. False
A mini-trial is a public method of dispute resolution.
a. True
b. False
The Act of State Doctrine applies to antitrust issues for member countries of the United
Nations.
a. True.
b. False
The failure to follow crime prevention programs can result in harsher sentences under
the U.S. corporate sentencing guidelines.
a. True
b. False
State environmental laws are always superceded by the federal environmental laws.
a. True
b. False
An independent contractor is not controlled directly by the principal.
a. True
b. False
A National Pollution Discharge Elimination Permit:
a. permits the holder to discharge pollutants at its point source.
b. permits the holder to discharge toxic pollutants.
c.permits the holder to discharge pollutants after pretreatment.
d.permits the discharge of smoke from utility plants equipped with scrubbers.
The business judgment rule holds directors liable for:
a. errors in business judgment.
b. their mistakes.
c.failure to obtain necessary information for making decisions.
d.none of the above
Principals are liable for the acts of independent contractors if:
a. the acts are inherently dangerous activities.
b. the independent contractor was negligently hired.
c.both a and b
d.none of the above
A candle has the following label: “NEVER LEAVE A BURNING CANDLE
UNATTENDED.” The warning:
a. is not necessary to prevent liability on the part of the maker.
b. would not cover a defect in the candle’s manufacture.
c.is an example of a warning needed to prevent liability for negligence only.
d.all of the above
What types of remedies are available for patent infringement?
a. injunctions
b. damages
c.specific performance
d.a. and b.
The 1990 amendments to the Clean Air Act:
a. were vetoed by President Bush.
b. require additional antipollution equipment on cars.
c.failed to address the acid rain issue.
d.do not support alternative fuels.
Contributions to PACs are protected by:
a. the due process clause.
b. the First Amendment.
c. various state laws, but not protected at the federal level.
d. none of the above
Which of these can be a valid contract agreement under ESIGN?
a. A fax
b. A PDF file
c.An online click or check on an “I accept” button
d.All of the above
The bubble concept applies to nonattainment areas.
a. True
b. False
Which of the following is not a court of limited jurisdiction?
a. probate court
b. small claims court
c.federal district court
d.All of the above are limited jurisdiction courts.
Oral arguments are not allowed in appellate courts.
a. True
b. False
Federal district courts are courts of original jurisdiction.
a. True
b. False
If there is a breach of the warranty of merchantability, there is no tort liability.
a. True
b. False