An award of child support to be paid to the custodial parent by a noncustodial parent is
a fixed amount that cannot be modified with changing conditions.
The pollutant standards under the national ambient air quality standards (NAAQS) are
set in two levels.
The power of sale foreclosure is implied in mortgages and deeds of trust.
A person who disaffirms a contract based on intoxication must be returned to status
quo.
Administrative agencies are created by the judicial branch of governments.
A check is finally paid when ________.
A) the depository bank credits the customer’s account with an option to reverse the
credit in case of dishonoring of the check
B) the payer bank fails to dishonor the check within certain statutory time periods
C) the drawer settles for the check while holding a right to revoke the settlement
D) the final bank in the collection process tentatively credits the account of the prior
transferor
A(n) ________ refers to a written document signed by a shareholder that authorizes
another person to vote the shareholder’s shares.
A) deputation
B) proxy
C) easement
D) title
Which of the following statements is true of the requirements for making a will?
A) A will need not be signed by the testator if it is created in the presence of witnesses.
B) A will need not be written to be considered valid only if it is a dying declaration.
C) A will cannot incorporate any other documents by reference.
D) The legal age for executing a will is set at 25 years across all states.
________ is a divorce proceeding in which the parties represent themselves in the
divorce action.
A) Pro se divorce
B) Settlement
C) Emancipation
D) Prenuptial divorce
Which of the following is true of the Delaware General Corporation Law?
A) It makes it easier for other companies to take over a Delaware corporation.
B) The legislature seldom amends the corporation code to meet the demands of big
businesses.
C) The statute is particularly written to be of benefit to individual businesses and
consumers.
D) It is the most advanced corporation law in the country.
Under negligence, a person is liable only for ________ events.
A) intervening
B) foreseeable
C) superseding
D) overruling
Which of the following makes negotiable instruments transferable to a third party?
A) an insurance
B) an indorsement
C) a bill of exchange
D) a trade acceptance
The ________ is a government agency that insures deposits at most banks and savings
institutions in the United States.
A) Federal Deposit Insurance Corporation
B) Federal Reserve System
C) Resolution Trust Corporation
D) Bureau of Federal Credit Unions
Which of the following is an instance of a mortgage?
A) Richard pays Ellen $1000 a month to live in her apartment.
B) Richard pays Ellen $12,000 a year to live in her apartment.
C) Richard gives his country estate as collateral to a bank from where he has borrowed
money to buy an apartment.
D) Richard has been living in an apartment for thirty years and upon his death, the
apartment will be transferred to somebody else.
Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners.
They are tenants with the right to survivorship. Lizzi sells her one-quarter interest in the
building to Stella. What kind of concurrent ownership now exists between Karen,
Kelsey, Rita, and Stella?
A) a tenancy in common
B) a tenancy by entirety
C) a joint tenancy
D) a community property
Luke offered to sell his farm to Kent at $75,000, an offer which Kent declined. A week
later, Luke offered to sell the farm for $65,000, stating it was the final offer that would
be valid for one month only. Two days later, Kent offered to pay $60,000 for the farm.
Luke received Kent’s offer a week later and he declined it. After ten days, Kent agreed
to buy the farm for $65,000, but Luke refused to sell the farm. Kent decided to sue
Luke for a breach of contract. The judge ruled in favor of Luke. Which one of the
following is the reason for the ruling in Luke’s favor?
A) Luke’s original offer of $75,000 is still valid, even though rejected.
B) Kent’s counteroffer of $60,000 had rendered the offer for $65,000 invalid.
C) Kent’s acceptance was past the set time period in the offer.
D) Kent acted in an incompetent manner toward the offer.
________ is that which must be obeyed and followed by citizens subject to sanctions or
legal consequences.
A) Morality
B) Philosophy
C) Law
D) Religion
The ECPA is a federal statute that ________.
A) establishes that businesses are allowed to send spam e-mails as long as they do not
lie
B) rules that ISPs are not liable for the content transmitted over their networks by
e-mail users and websites
C) establishes that an e-signature is as effective as a pen-inscribed signature on paper
D) makes it a crime to intercept an electronic communication at the point of
transmission