A promissory note may only be a two-party instrument.
A pretrial hearing is also known as a settlement conference.
Express warranties must contain the word “express” in writing to be legitimate.
Unlawful eviction occurs when a tenant’s right to quiet enjoyment is violated.
A shipment contract requires the seller to deliver goods to a destination specified in the
sales contract.
The transfer of rights under a nonnegotiable contract is known as an assignment.
In the context of patents, which of the following is a key function of the U.S. Court of
Appeals for the Federal Circuit?
A) It hears appeals rejected from state courts regarding patent issues.
B) It accepts applications for new patents.
C) It helps to enact new patent laws.
D) It helps to promote uniformity in patent laws.
Ellen, who has a good driving record, purchases automobile insurance from an
insurance company. Ellen cannot assign her rights to be insured to another driver for
which of the following reasons?
A) The assignment would materially alter the risk and duties of the insurance company.
B) Claiming insurance is a future right and hence cannot be assigned.
C) Insurance is a personal service contract and hence cannot be assigned.
D) Personal contracts like insurance are assignable only with the agreement of all
parties involved in the contract.
The Age Discrimination in Employment Act (AEDA) is a federal statute that prohibits
age discrimination practices against employees who are 40 years old and older.
Which of the following is true of registration statements?
A) They must be accompanied by financial statements certified by certified public
accountants.
B) Once submitted, they cannot be amended.
C) The SEC judges the merits of the securities based on the registration statement.
D) They need not reveal how a company plans on using the proceeds from the offering.
Which of the following is true of the Islamic law of Shari’a?
A) The Shari’a disallows making a reasonable profit from the sale of goods and
services.
B) All Islamic countries strictly follow the Shari’a to govern all aspects of life.
C) The Shari’a encourages riba through the strict payment and collection of interest on
loans within stipulated periods of time.
D) The Shari’a is primarily used in the areas of marriage; divorce; inheritance; and, to a
limited degree, criminal law.
If a contract is required to be in writing under the Statute of Frauds but is not, then the
contract is ________.
A) valid
B) void
C) voidable
D) unenforceable
Federal administrative agencies are created by ________.
A) the U.S. President
B) the U.S. Congress
C) the U.S. people
D) the U.S. judiciary
Workers’ compensation is a(n) ________ remedy as between the employee and the
employer.
A) exclusive
B) cumulative
C) provisional
D) equitable
What is recognizance?
A) a party’s acknowledgement in court that he or she will pay a specified sum of money
if a certain event occurs
B) a sealed document that contains a formal contract whose contents are known to both
parties and the referee who supervised its signing
C) a sealed document that contains an informal contract whose contents are known only
to the parties
D) a party’s acknowledgement in court that he or she is not liable to pay any money if a
certain event occurs
Ida moves to New York from Poland and wants to live in an apartment. However, she
does not have sufficient money to buy one. Her colleague Henry said Ida can live in his
old apartment for a year, if she pays him $25,000. This contract would be considered
a(n) ________.
A) lease
B) mortgage
C) installment
D) easement