An offeror can revoke his or her offer even after an agreement or acceptance has been
reached.
A franchisor deals with the franchisee as an independent contractor.
The federal district courts are empowered to impanel juries, receive evidence, hear
testimony, and decide cases.
Nicknames or titles cannot be used as a testator’s signature in a will.
Under the Health Care Reform Act, persons who do not obtain health coverage will be
provided free health insurance by the government.
Section 2-201(1) of the Uniform Commercial Code (UCC) states that a unilateral
promise to pay money or property in consideration for a promise to marry must be in
writing.
A signature in the lower-right corner of a promissory note indicates that the signer is the
maker of the note.
Section 406 of the Sarbanes-Oxley Act requires a public company to disclose whether it
has adopted a code of ethics for senior financial officers.
The Due Process Clause of the Fifth Amendment to the U.S. Constitution requires the
government to compensate a property owner when it exercises the power of eminent
domain.
Res ipsa loquitur switches the burden to the plaintiff to prove that the defendant was
negligent.
The attorney cannot be sued for any losses caused by his or her negligence in rendering
an attorney’s opinion.
Partners of LLPs (limited liability partnerships) are personally liable for the LLPs’
debts, obligations, and liabilities.
State administrative agencies are created by ________.
A) legislative branches of states
B) legislative branches of the federal government
C) the U.S. President
D) the U.S. Congress
Regulation Z is an administrative agency regulation that sets forth detailed rules for
compliance with the ________ Act.
A) Fair Credit Reporting
B) Truth-in-Lending
C) Fair Credit Billing
D) Fair Debt Collection Practices
The term ________ refers to the doctrine that applies to strict liability actions that says
a plaintiff who is contributorily negligent for his or her injuries is responsible for a
proportional share of the damages.
A) negligence per se
B) assumption of risk
C) comparative fault
D) contributory negligence
When does the deceased’s property, in intestacy, escheat to the government?
A) when the deceased has no living relatives
B) when the deceased leaves behind property that has an existing mortgage on it
C) when the deceased has executed a living will prior to his or her illness or death
D) when the deceased has no lineal descendants
Which of the following methods are used to appoint a manager of a manager-managed
LLC (limited liability company)?
A) appointed by the secretary of state
B) vote of majority of the members
C) unanimous vote of members
D) unanimous vote of shareholders
A(n) ________ is an order by the drawer to the drawee bank to pay a specified sum of
money from the drawer’s checking account to the named payee (or holder).
A) ordinary check
B) promissory note
C) bill of exchange
D) credit memo
A ________ is a transfer of the right to the possession and use of named goods for a set
term in return for certain consideration.
A) trade
B) gift
C) lease
D) sale
Which of the following constitutes duress?
A) a plaintiff threatening the defendant that he will not drop the lawsuit until the
defendant pays him a certain amount of money
B) a teacher threatening a student that he will be expelled if he is found with cigarettes
again
C) a wife threatening to commit suicide if her abusive husband does not stop beating
her
D) a father using his dominant and fiduciary position to unduly influence his son into
committing a crime
Which of the following is true of an express agency?
A) The agency involved is allowed to have multiple agents if desired.
B) The agency is implied from the conduct of the parties.
C) The agency comes to effect when the principal ratifies an unauthorized act.
D) The agency arises when a principal creates the appearance of an agency that does
not exist.
The ________ provides that federal law takes precedence over state or local law.
A) preemption doctrine
B) executive branch
C) Due Process Clause
D) Free Exercise Clause
________ is a rule that says that if a written contract is a complete and final statement
of the parties’ agreement, any prior or contemporaneous oral or written statements that
alter, contradict, or are in addition to the terms of the written contract are inadmissible
in court regarding a dispute over the contract.
A) Parol evidence rule
B) Firm offer rule
C) Open terms rule
D) Gap-filling rule
Which of the following is true of a share exchange?
A) The subsidiary corporation ceases to exist after the share exchange.
B) The legal existence of both corporations is retained after the exchange.
C) The shares of both parent and subsidiary corporations are divided equally between
themselves.
D) The subsidiary corporation can have a maximum of three shareholders in the
exchange.
Which of the following best describes the scope of Title VII of the Civil Rights Act of
1964?
A) It applies to all employers irrespective of the number of employees.
B) It does not apply to labor unions.
C) It does not cover state and local governments.
D) It does not apply to Native American tribes.
Apart from recovering damages, and recovering profits made by the offender,
successful plaintiffs in a misappropriation of a trade secret case can also ________.
A) obtain the offender’s trademarks or brand name as payoff
B) ask for transfer of any of the offender’s patents to the plaintiff
C) ask to acquire the offender’s trade secrets as payoff
D) obtain an injunction prohibiting the offender from divulging the trade secret
Under this arrangement, ________ is legally obliged to pay Donald for the damages
caused to the kitchen.
A) only Pam
B) only Dave
C) only Chris
D) either Chris or Dave
The action of a will being witnessed by two or three objective and competent people is
known as ________.
A) attestation
B) abatement
C) escheating
D) ademption
Marlon intends to sell a piece of real estate he owns and contracts Nita, a real estate
broker, to make the sale. In the contract, Marlon authorizes Nita to make the sale at or
above a minimum price he wants and the date by which he wants the sale to be
completed. The contract also stipulates that Marlon will not hire another broker to sell
that piece of land until the contract period expires. Nita finds a suitable buyer, makes
the sale in time, and is paid by Marlon for her services. What kind of contract existed
between Marlon and Nita?
A) an apparent agency contract
B) a ratified contract
C) an exclusive agency contract
D) an exclusive principal contract
How are liquidated damages awarded?
What is cybersquatting? Can trademark owners recover domain names registered in bad
faith?
What is the purpose of the crashworthiness doctrine?
What is the defense of fraud in the inducement?
When is parol evidence admitted in court?
What are the possible problems that can come up in a unilateral contract?
Describe the functions of the statute of limitations and the statute of repose.
Give an account of concurrent ownerships in a multiple-dwelling building.