The Clear Water Act extends its protection to the oceans.
The primary level of the national ambient air quality standards (NAAQS) protects
vegetation.
Any lease for a stated period, irrespective of its duration, is called periodic tenancy.
An indorsement with just the indorsee’s signature on it, and a specific payee, would be
an example of a nonrestrictive indorsement.
In a guarantee situation, the guarantor’s liability is secondary.
The United Nations (UN) does not allow permanent membership of the Security
Council to any member nation.
Under a closed shopagreement, an employer agrees to hire only employees who are
already members of a union.
Federal statutes take precedence over federal regulations.
A defendant who has not been negligent but is made to pay a strict liability judgment
can bring a separate action against the negligent party in the chain of distribution to
recover his losses.
The jurisdiction of the Equal Employment Opportunity Commission (EEOC) is
restricted to investigating charges of discriminationbased on sex.
Acceptance of drafts can be done orally.
A transferee who took an instrument in good faith may recover damages for breach of
transfer warranty from the warrantor equal to the loss suffered.
A purported principal is liable for an unauthorized signature by a purported agent.
The government can forfeit any property involved in a money laundering offense.
Accessions are pieces of individual property or goods that are not united with any other
property.
Most jurisdictions hold the ________ liable for injuries caused on a dual-purpose
mission.
A) principal
B) agent
C) principal and the agent
D) injured party
An agency that occurs when a principal and an agent categorically agree to enter into an
agency agreement with each other is known as a(n) ________.
A) agency by ratification
B) implied agency
C) apparent agency
D) express agency
The Environmental Protection Agency (EPA) requires special labeling of toxic
substances.
Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.
They are tenants with the right to survivorship. Lizzi transfers her one-quarter interest
in the building to a private charity organization owned by Stella. Which form of
concurrent ownership would allow Karen, Kelsey, and Rita to become the owners of the
property following Lizzi’s death without the inclusion of the private charity
organization run by Stella?
A) a tenancy by entirety
B) a community property
C) a joint tenancy
D) a tenancy in common
Gerard and Tony organize an LLC (limited liability company) by investing $55,000 and
$45,000 respectively. The operating agreement states that profits are to be shared in the
ratio of 55:45 between Gerard and Tony and makes no mention of sharing losses. The
LLC incurs a loss of $100,000 in its first year. How is this loss shared?
A) Both Gerard and Tony have to pay $50,000 each.
B) Gerard pays $55,000, while Tony pays $45,000.
C) Gerard pays $45,000, while Tony pays $55,000.
D) Gerard and Tony are not liable for the losses of the LLC.
Which of the following best defines a proof of claim?
A) a statement by the debtor that states that he or she has debts
B) a document required to be filed by a debtor stating the property that is exempted
from constituting the bankruptcy estate
C) a document required to be filed by a creditor that states the amount of his or her
claim against the debtor
D) a statement by creditors alleging that the debtor is not paying his or her debts as they
become due
KnockKnock is a manufacturer of stainless steel locks that are well-known for their
durability. The company contacts a new stainless steel supplier and enters into a supply
contract. The contract states that KnockKnock would purchase only if the steel from the
supplier was high-grade Type 102 stainless steel. This is an instance of a ________.
A) condition subsequent
B) concurrent condition
C) covenant
D) condition precedent
Which of the following is the special court that hears and decides business cases in
Delaware?
A) court of chancery
B) Delaware supreme court
C) superior court of Delaware
D) court of common pleas
The ________ is a federal law that gives the FDA broad powers to license new drugs in
the United States.
A) Drug Amendment of the FDCA
B) Food Labeling and Education Act
C) Health Care Reform Act
D) Patient Protection and Affordable Health Care Act
________ refers to a contract provision that designates a certain court to hear any
dispute concerning nonperformance of the contract.
A) No-contest clause
B) Choice-of-law clause
C) Forum-selection clause
D) Arbitration clause
A competitor can lawfully use a rival’s trade secret if the competitor got the trade secret
by means of ________.
A) cross-licensing
B) reverse engineering
C) patenting
D) copyrighting
What is nolo contendere in legal proceedings?
A) a plea by which the defense attorney sets out reasons as to why the case should not
go to trial
B) a guilty plea where the defendant does not admit the act and asserts innocence
though there is sufficient evidence against the defendant
C) a plea where the accused agrees to the imposition of a penalty but does not admit
guilt
D) a plea by which the defense attorney exhibits evidence that the defendant is not fit to
stand for trial
What is meant by “causation in fact”?
A) the facts stated by a plaintiff during trial
B) a defendant’s negligent act that caused the plaintiff’s injuries
C) a defendant’s defense against a case of negligence
D) a defendant’s plea of guilt due to negligence