If a universal defense is proven, the holder or HDC cannot recover on the negotiable
instrument.
The House of Representatives has the power to impeach the president for certain
activities, such as treason, bribery, and other crimes.
The .biz extension is used for large-business websites.
The right to replevy goods can be invoked by the seller.
In a rejoinder, the defendant’s attorney can call additional witnesses and introduce other
evidence to counter the rebuttal.
Under an agency shopagreement, an employer may hire anyone whether she belongs to
a union or not.
According to Rawls’s social justice theory, a person who is in a state of “veil of
ignorance” is best fit to select the fairest possible ethical principles.
In which of the following ways can an accountant defeat the imposition of liability
under Section 18(a)?
A) if he or she can show that the misleading statement was made to protect the
company from bankruptcy
B) if he or she had acted out of recklessness
C) if he or she was an employee to the plaintiff
D) if he or she can show that the plaintiff had knowledge of the false statement
Gregory Aimes, who is being tried for murder, has appointed Linda Steve as the
attorney for his defense. When being questioned about the case, Gregory confesses to
Linda that he committed the murder. Linda cannot divulge this information to the
proper authorities due to the attorney-client privilege wherein all information
exchanged between the client and the attorney is confidential. Under which of the
following conditions can Linda lawfully break away from her attorney-client privilege
with Gregory?
A) if Gregory asks that Linda be replaced as his attorney
B) if Linda voluntarily resigns as Gregory’s attorney
C) if Gregory is acquitted of all charges in the case
D) if Gregory discloses a planned future murder to Linda
At the food processing company where Mika works, his primary job responsibility is to
review the quality of preservatives that are used in the food products being made. A
new and highly recommended preservative that has the potential to preserve food
longer without refrigeration is approved by Mika. However, Mika fails to identify that
the substance used to make the preservative is banned. If the food product is released
with this new preservative, which of the following provisions of the NLEA would help
consumers identify the banned preservative prior to consumption?
A) condemnation of unfit food products
B) disclosure of information on food labels
C) inspection of the storage facilities
D) initiating legal proceedings against violators
A(n) ________ is an arrangement in which a third party promises to be secondarily
liable for the payment of another’s debt.
A) guaranty arrangement
B) surety arrangement
C) insolvency arrangement
D) accommodation
Article 5 of the Uniform Commercial Code governs ________.
A) sales of intangible goods
B) finance leases
C) letters of credit
D) general provisions
Henry works as an assembly line worker at MM Corporation. Two weeks back, he
suffered multiple fractures while trying to repair a block in the machinery. The doctors
have advised him to take two months of rest to recuperate from this accident. However,
Henry is reassured that the ________ that he is eligible for will provide him with a
monthly income until he is fit to return to work.
A) life insurance
B) disability insurance
C) health insurance
D) homeowner’s policy
________ is a doctrine that raises a presumption of negligence and switches the burden
to the defendant to prove that he or she was not negligent.
A) Res ipsa loquitur
B) Negligence per se
C) Doctrine of proximate cause
D) Doctrine of comparative negligence
________ occurs when the party knows what he or she is signing but has fraudulently
been led into the contract.
A) Fraud in the factum
B) Fraud in the inducement
C) Fraud by concealment
D) Misrepresentation of law
________ is the act of a minor to rescind a contract under the infancy doctrine, either
orally, in writing, or by the minor’s conduct.
A) Ratification
B) Disaffirmance
C) Sanction
D) Adherence
A(n) ________ is a document required to be filed by an equity security holder that
states the amount of his or her interest against the debtor.
A) proof of claim
B) proof of interest
C) voluntary petition
D) involuntary petition
A member’s distributional interest in an LLC (limited liability company) is ________
and may be transferred in whole or in part.
A) a vote
B) a proxy
C) personal property
D) an authority in management
A relevant market is characterized by the presence of ________.
A) unique goods and services
B) reasonably interchangeable goods and services
C) highly differentiated goods and services
D) pure monopoly of the defendant’s goods and products
________ are a series of laws enacted to specifically limit anticompetitive behavior and
monopolistic practices in almost all industries, businesses, and professions operating in
the United States.
A) Contract laws
B) Antitrust laws
C) Laissez-faire laws
D) Canon laws
Which of the following is true for a corporation’s liability on the promoters’ contracts if
the corporation is never formed?
A) The corporation assumes liability of the promoters’ contract automatically upon its
creation.
B) The promoter’s liabilities are transferred to the board of directors of the corporation
upon its formation.
C) The promoter, the corporation, and the third-party enter into a novation whereby
liability is solely transferred to the corporation.
D) The promoters have joint personal liability on the contract unless the third party
specifically exempts them from such liability.
The Clear Water Act authorizes the Environmental Protection Agency (EPA) to
establish national primary drinking water standards.
In which of the following cases is parol evidence admitted by a court?
A) when the plaintiff reduces the value of damages he expects
B) when the evidence explains ambiguous language
C) when the defendant does not wish to appeal
D) when the defendant takes the case to the appellate court
________ refers to a concept that requires lawsuits to be heard by a court with
jurisdiction that is nearest the location in which an incident occurred or where the
parties reside.
A) Jurisdiction
B) Venue
C) Circuit
D) Doctrine of stare decisis
Jonathan Smith, a neurosurgeon in Oregon, wants to start a website that makes it
possible for neurosurgeons across the world to work on cases in collaboration. Which of
the following domain extensions is most apt for Smith’s website?
A) .com
B) .coop
C) .biz
D) .pro
A secured creditor must ________ the collateral if he or she receives a written objection
to the proposal from a person entitled to receive notice within 20 days after the notice
was sent.
A) dispose of
B) possess of
C) retain
D) claim