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It is probable that a zoning variance would be granted:
a. even though many of the neighboring property owners object.
b. on the grounds of hardship, regardless of who created the hardship.
c. to an outside advertiser to build a billboard.
d. when the desired use of the land is in harmony with the general nature of the
surrounding areas.
Members of administrative agencies are ordinarily
a. pre-selected.
b. elected.
c. assigned.
d. appointed.
Trademarks or service marks may be registered if they utilize terms that are:
a. suggestive of characteristics of the product or service to which they relate.
b. fanciful, arbitrary, or coined.
c. descriptive and have acquired a known secondary meaning linked to a product.
d. all of the above.
An agent acting under a power of attorney is referred to as an:
a. implied attorney.
b. attorney in fact.
c. implied agent.
d. attorney at law.
A contract that is deemed to be too harsh or oppressive to one of the contracting parties
may be unenforceable under the concept of:
a. unilateral influence.
b. bilateral influence.
c. unconscionability.
d. conscionability.
The common law rights and duties of a warehouser, in the absence of modifying
statutes, are for the most part those of a bailee in:
a. a bailment for the sole benefit of the bailee.
b. an ordinary mutual-benefit bailment.
c. a bailment for the sole benefit of the bailor.
d. none of the above.
John Smyth is an agent for L. T. Adams. To avoid becoming a party to any contract that
Smyth signs for Adams, Smyth should sign in which of the following ways?
a. John Smyth, agent
b. John Smyth, for the principal
c. John Smith, as agent for the principal
d. L. T. Adams, per John Smyth
An insured person is generally allowed, by policy provision or statute, a grace period of
what length of time in which to make the payment of a premium due on a life insurance
policy?
a. 14 to 15 days
b. 30 to 31 days
c. 60 to 61 days
d. 90 days
When a surety pays a debt that it is obligated to pay, it automatically acquires the claim
and the rights of the creditor through:
a. assignment.
b. exoneration.
c. subrogation.
d. default.
California passed a law prohibiting any transporting of nuclear waste in the state unless
the company doing so is a resident or is owned by residents of California. What
constitutional issues does this law raise?
Uniform State Laws are used as a basis for laws by which of the following entities?
a. Congress
b. international trade associations
c. state legislatures
d. local governmental entities
Provision for exemption from the registration requirements of the Securities Act of
1933 is made for offerings made solely to accredited investors by SEC Regulation:
a. A.
b. B.
c. C.
d. D.
If an obligor could successfully defend against a suit brought by the assignor:
a. the obligor will also prevail against the third-party beneficiary.
b. the obligor will also prevail against the assignee.
c. the obligor will also prevail against the incidental beneficiary.
d. none of the above.
Which of the following is not the exclusive right of the holder of a copyright?
a. To prepare works that are derived from the original work.
b. To obtain a court order enjoining use of the original work by another.
c. To distribute copies of recordings of the original work.
d. To display or perform the original work in public.
Under the Revised Uniform Limited Partnership Act, a limited partner probably will not
lose the protection of limited liability when the limited partner:
a. becomes a contractor for, or an agent or employee of, the limited partnership or of a
general partner.
b. consults with and advises a general partner regarding the partnership business.
c. votes on partnership matters, such as dissolving and winding up the limited
partnership or removing a general partner.
d. all of the above.
What is not a correct statement concerning consumer protection legislation?
a. It prohibits the consumer from suing in his or her own right and gives the right to sue
solely to an agency or to the attorney general.
b. It recognizes that the theoretical right of the consumer to sue may be of little practical
value.
c. It provides special remedies.
d. It provides certain agencies to police statutes passed to aid consumers.
A bailment is created:
a. when a person rents space in a building
b. when a person rents a safe deposit box at a bank
c. both a. and b.
d. neither a. nor b.
Blackmail is defined as:
a. giving money to a person to influence that person's judgment.
b. an illegal demand made by a public official.
c. an illegal demand made by a nonpublic official.
d. providing improper political influence.
When the primary party refuses to pay an instrument according to its terms, said party
is required to give:
a. notice of nonpayment.
b. notice of dishonor.
c. notice of denial.
d. secondary party notice.
What is not a correct statement concerning the Fair Debt Collection Practices Act?
a. It prohibits improper practices in the collection of consumer debts.
b. It applies to original creditors who are collecting from original debtors.
c. The validity of the debt is not a defense.
d. Violators are liable to debtors for damages.
The theory of justice is based on the concept that if there were no laws or rules
reasonable people would develop fair rules and standards.
A buyer who buys goods from a debtor in the ordinary course of business is subject to a
creditor€s security interest but only if the interest was perfected and the buyer had
notice of it.
Generally, the terms broker and agent are synonymous because both work directly for
the insurer.
An unlicensed doctor can sue a patient for the doctor's fee if the patient in fact
recovered because of the doctor's care.
A cured transaction is a pledge of property by the buyer-debtor that enables the seller to
take possession of the goods if the buyer fails to pay the amount owed.
A third party arrangement occurs when a corporate officer agrees to be personally liable
for a corporate note.
The Litigation Reform Act of 1995 provides for joint and several liability for
defendants who are found not to have knowingly committed a violation of the security
laws.
Agency investigations of possible violations of agency rules are handled through
independent enforcement agencies.
In general, transferees who are aware of facts that would make a reasonable person ask
questions are deemed to know what they would have learned if they had asked
questions.
