1) constitutional procedural safeguards such as the exclusionary rule protect
respondents of the administrative adjudication process.
2) a state law unconstitutionally burdens interstate commerce only when it violates a
federal statute that was enacted under the commerce clause.
3)
the courts exercise the greatest control over agency behavior because all agency actions
are subject to judicial review.
4) a corporation may have several classes of common shares with unequal voting rights.
5) indorsers are not contractually liable on negotiable instruments they indorse.
6) an uncertain future event, the occurrence of which is necessary for the existence of a
contractual obligation is called:
a.a condition precedent.
b.a condition subsequent.
c.a concurrent condition.
d.a constructive condition.
7) which of the following is true about charging a partners capital account during
distribution?
a.losses from sale of partnership assets during winding up are not charged against a
partners capital account.
b.partners are given the gross amount existing in their capital accounts.
c.on account of negative balance in a partners account, other partners are under no
obligation to contribute to set off the shortage.
d.if partnership creditors cannot be paid from the partnership assets, the creditors may
proceed against the partners capital accounts.
8) which of the following indorsements is a restrictive indorsement?
a.pay to jack black, mel gibbs
b.mel gibbs
c.pay to jack black in trust for mel gibbs.
d.pay to the order of jack black, mel gibbs
9) elvisco, inc. owns the building that houses its business. elvisco obtained a property
insurance policy on the building from graceland mutual insurance co. the policy, whose
face amount was $200,000, contained a 75 percent coinsurance clause. the building had
a fair market value of $400,000. while the policy was in effect, the covered peril of fire
caused $90,000 of damage to the building. elvisco has filed a claim and proof of loss
with graceland mutual. how much is graceland mutual obligated to pay elvisco?
a.$90,000
b.$60,000
c.$30,000
d.nothing
10) jill voluntarily uses joes lawn mower, even though joe had told her that his mower
frequently fails and can even cause accidents. in case of an accident, joe has the defense
of:
a.contributory negligence.
b.assumption of risk.
c.comparative negligence.
d.comparative fault.
11) personal property is defined by a process of _____.
a.exclusion
b.tangibility
c.consideration
d.inheritance
12) the magnuson-moss warranty act applies to sales of goods costing:
a.$15 or more to a consumer.
b.$15 or more to any purchaser.
c.$50 or more to a consumer.
d.$50 or more to any purchaser.
13) which of the following is a characteristic of the doctrine of constructive eviction?
a.it aids landlords to evict tenants who default on rents.
b.it aids tenants to vacate property that is unsuitable.
c.it requires no legal notice, either before or after eviction.
d.it applies only to residential property.
14) which of the following is true of general agents and special agents?
a.general agents have the power to bind the principal by their actions, while special
agents do not.
b.a general agent is employed to conduct a series of transactions, while a special agent
is employed to conduct a small, simple group of transactions.
c.special agents are gratuitous agents, i.e., they are not paid by the principal, while
general agents receive consideration for their services.
d.general agents can appoint subagents to carry out the principals tasks, while special
agents cannot.
15) which of the following is true of eviction?
a.the law gives landlords the power to forcibly evict tenants who default on rents.
b.an eviction results when the tenant unjustifiable vacates the leased premises.
c.it results from a breach of contract by a tenant.
d.the tenant need not be given a notice before eviction.
16) david entered into a contract to sell ruth a parcel of land fully aware that ruths
intention of purchase was to construct a high-rise commercial building. david was also
aware that the subsurface soil condition of the property would prevent such
construction. the soil condition was not readily discoverable in the course of normal
inspections or soil evaluations. david did not disclose the existence of the condition to
ruth, nor did ruth make any inquiry of david as to the suitability of the land for the
intended development. davids silence as to the soil condition:
a.renders the contract voidable at ruths discretion.
b.entitles ruth only to monetary damages.
c.makes the contract a case of a mutual mistake.
d.does not affect the validity of the contract.