A bailee’s __________ gives the bailee the right to maintain possession of the bailed
property until reasonable storage and/or repair charges are paid.
a. reversionary interest
b. Lien
c. remainder interest
d. Mortgage
Unless otherwise agreed, the proper place for the delivery of goods is:
a. the buyer’s place of business.
b. the seller’s home.
c. a delivery service selected by the seller.
d. the seller’s place of business.
When a partnership is dissolved by a partner€s bankruptcy, notice:
a. is not required.
b. must be given to the other partners only.
c. must be given to third persons only.
d. must be given to both other partners and third persons.
Which of the following is an incorrect statement concerning trusts?
a. The trustee has legal title to the corpus.
b. The beneficiary has equitable title to or beneficial interest in the corpus.
c. Generally, a beneficiary may not transfer his or her interest in the trust.
d. A trustee cannot delegate the performance of personal duties.
A taker of a negotiable instrument may be denied the status and protection of a holder
in due course where:
a. one party is a consumer.
b. the close-connection doctrine applies.
c. the instrument is bearer paper.
d. none of the above.
The tort of invasion of privacy includes:
a. intrusion into private affairs.
b. public disclosure of private facts.
c. misappropriation of another’s name.
d. all of the above.
A third-party beneficiary contract may be amended:
a. with the consent of the beneficiary.
b. by operation of law.
c. if the contract allows modifications without the beneficiary’s consent.
d. all of the above.
Unidentified members of a certain class may sue for negligent malpractice in states that
follow the __________ rule.
a. contact
b. known user.
c. unidentified user
d. foreseeable user
The U.S. Constitution:
a. is unwritten.
b. was brought over from England in its entirety.
c. is a written document that specifies the structure of the government.
d. prohibits the states from having their own constitutions.
A wrong that arises from a violation of a private duty is called a:
a. criminal action.
b. tort.
c. crime.
d. de mala.
Which of the following actions is not prohibited by The Foreign Corrupt Practices Act?
a. offers of payments to government officials to influence a decision on behalf of the
firm making the payment
b. payments to government officials to influence a decision on behalf of the firm
making the payment
c. payments to low-level officials for expediting the performance of routine government
services
d. all of the above actions are prohibited by The Foreign Corrupt Practices Act
Plaintiffs can successfully subpoena Internet Service Providers (ISPs) to obtain the
identify of individuals who make defamatory remarks:
a. in all cases.
b. only when the information posted is false.
c. only when the information posted is true.
d. ISPs are never required to disclose identity.
A(n) __________ is a negotiated disposition of a matter before an administrative
agency, generally without public sanctions.
a. formal settlement
b. informal settlement
c. judicial verdict
d. quasi-judicial verdict
A minor cannot avoid a contract that has been:
a. ratified.
b. signed.
c. processed.
d. disallowed by the court.
A sales contract must be evidenced by a writing if the sales price of goods is equal to or
more than:
a. $100.
b. $1,000.
c. $500.
d. $5,000.
A professor owned a home next door to a very dilapidated, neglected home. John
Cataldo purchased the home next door and made a contract with Wizard Home
Improvements for a complete renovation of the property. The professor was delighted
because the improvement of the Cataldo home was upgrading the neighborhood and
raising the value of the professor’s home.After making the last required payment on the
contract, John Cataldo became seriously ill and ultimately was taken to a nursing home
for care.When Wizard learned of Cataldo’s illness and confinement, Wizard ceased
work on the Cataldo home. Because the outside renovation work had not been
completed, the premises began to return to its former rundown condition. The professor
ultimately sued Wizard as a third-party beneficiary of the contract between Cataldo and
Wizard. What is the probable outcome of the lawsuit?
One promise may serve as consideration for many return promises.
“Tort” comes from the Latin term “tortus,” which means “crooked, dubious, or twisted.”
A check may be certified by a bank on request of the drawer or the holder.
Vacarro gave her son Mark a car on the day Mark left for college. Vacarro told Mark
that she expected him to use the car for school purposes and to earn good grades. Mark
flunked out of college in his second semester. Vacarro sued to regain title to the car on
the ground that the gift was conditional on Mark’s earning good grades and remaining
in college. Will Vacarro win the case?
To stabilize the industry, manufacturers of the same or similar products may agree that
each will market its product in a specified geographic area of the country and will not
market its product in the territory assigned to other manufacturers.
The courts have traditionally viewed it as their responsibility to sit in judgment on the
wisdom of decisions made by corporate directors.
An owner of a copyright may license some of his or her rights to another in exchange
for royalty payments.