When two corporations merge:
a. their separate existences cease, and a new corporation is formed.
b. one of the corporations absorbs the other.
c. each corporation’s stockholders keep their original shares of stock
d. a new charter is needed.
Testing of prospective employees:
a. cannot have been developed by one employer and applied by another.
b. can be adjusted to favor members of a particular race.
c. must bear a relationship to job performance.
d. all of the above.
The debtor will be denied a discharge if:
a. the debtor had been extravagant.
b. the debtor incurred debts because of negligence.
c. the debtor received a discharge ten (10) years previously.
d. the debtor refused to obey a lawful order of the court.
The Telephone Consumer Protection Act prohibits:
a. automated marking calls without prior express consent.
b. calls to patients€ room in hospitals.
c. calls after 9:00 PM.
d. all of the above.
When it comes to administrative agencies, courts:
a. regard agencies as able to perform their duties effectively.
b. accept rules that have been established by agencies using a rational basis.
c. do not substitute their own judgment in agency decisions.
d. all of the above.
A summarized report of title to property is called:
a. title protection insurance.
b. title assessment insurance.
c. an abstract of title.
d. an instrument of title.
A holder may:
a. demand payment.
b. bring suit for the collection of an instrument.
c. give a discharge or release from liability on the instrument.
d. all of the above.
In an auction __________, the auctioneer takes bids as agent for the seller with the
understanding that no contract is formed until the seller accepts the transaction.
a. without reserve
b. with reserve
c. without preserve
d. with preserve
Employee e-mail is:
a. spontaneous.
b. candid.
c. discoverable.
d. all of the above.
An illegal provision in a contract:
a. causes the entire contract to be voidable.
b. causes the entire contract to be rescinded.
c. can be ignored by the parties in their performance of the remaining provisions of the
contract, assuming that the remaining portions of the contract can stand on their own.
d. can be ignored by the parties, because an illegal provision in a contract is not deemed
substantial.
The United Nations Conference on Trade and Development (UNCTAD):
a. represents the interests of less developed countries.
b. arbitrates trade disputes between countries.
c. furnishes letters of credit to expedite trade.
d. all of the above.
The rights of an employee to be compensated are governed primarily by the same
principles that apply to the compensation of a(n):
a. partner.
b. stockholder.
c. agent.
d. independent contractor.
Immanuel Kant’s categorical imperative theory:
a. requires that we avoid one-sided benefits as a result of ethical decisions.
b. makes it easier to settle international business ethical decisions.
c. believes you have to be fair and ethical whether you want to be or not.
d. all of the above.
A trustee may keep all matters associated with the trust secret.
The person who turns over the possession of bailed property is the bailor, and the
person who accepts possession is the bailee.
A provision in a lease giving the landlord the right to terminate the lease by notice is
strictly construed against the tenant.
Employment testing and educational requirements must be €job-related€; that is,
employers must prove that employment testing and educational requirements bear a
relationship to job performance.
An insurer may cancel any contract of insurance by the insurer’s unilateral act as long as
the insurer gives advance written notice.
An administrative agency whose erroneous decision causes a regulated person or
enterprise substantial loss is liable for such loss regardless of whether the agency acted
in good faith.
When a party expressly declares before the time for performance arrives that the
contract will not be performed, such a declaration is called an anticipatory repudiation.
A writing that is offered to satisfy the statute of frauds must have been written for that
purpose.