Computer programs are subject to protection in the U.S. under:
a. copyright laws.
b. patent laws.
c. trade secret laws.
d. all of the above.
A tenancy for an indefinite time period that may be terminated at any time by landlord
or tenant is called a tenancy:
a. at will.
b. for years.
c. at sufferance.
d. from year to year.
Which of the following agreements represent(s) an unreasonable restraint of trade?
a. a combination to create a monopoly
b. an agreement to obtain a €corner€ on a market
c. an association of merchants to increase prices
d. all of the above
To establish a gift, the party claiming to be the donee must prove:
a. delivery only.
b. intent only.
c. intent and a promise to deliver.
d. intent and delivery.
A customer went into a store and saw a beautiful leather jacket bearing a price tag of
$29. The customer handed the cashier a $50 bill and said, “I accept. We have a deal.”
The cashier then noticed the price tag and told the customer an error had been made and
that the price was $229. In this case:
a. the customer validly accepted the store€s offer.
b. the price tag was a firm offer.
c. no contract was formed because the customer’s offer was refused.
d. the customer is the offeree.
Title passes to the buyer at delivery:
a. in all situations
b. when goods are shipped FOB place of destination
c. when goods are shipped FOB shipment
d. never
When distributees stand in different degrees of relationship:
a. distribution is made per stirpes.
b. distribution is made per capita.
c. a distribution cannot be made without the consent of the state.
d. the right of escheat applies.
A forged indorsement must be reported within:
a. forty (40) days.
b. six (6) months.
c. one (1) year.
d. three (3) years.
A person who did not necessarily commit the crime can still be held criminally
responsible for acts committed by others __________.
a. only for non-business crimes
b. only for business crimes
c. both a. and b.
d. neither a. nor b.
A warehouser that holds itself out to serve the public generally without discrimination is
called a(n):
a. public warehouser.
b. general warehouser.
c. nondiscriminatory warehouser.
d. ordinary warehouser.
__________ represents a pattern of performance between the parties to a contract.
a. Course of dealing
b. Usage of trade
c. Course of trade
d. Usage of dealing
Which of the following can constitute an effective delivery of a deed?
a. a physical delivery
b. a symbolic delivery
c. a constructive delivery
d. all of the above
The legislative branch of government has the function of:
a. making laws.
b. executing the laws.
c. interpreting the laws.
d. all of the above.
A(n) __________ instrument€s terms are enforceable, but the instrument is treated
simply as a contract governed by contract law.
a. nonnegotiable
b. negotiable
c. accommodation
d. secondary
The phrase “time is of the essence” means that:
a. the court is in a hurry to dispose of the case.
b. performance under the contract at the times specified in the contract is vital or
essential.
c. the contract expressly states that time is of the essence.
d. the price stated in the contract is subject to change without notice.
_______ occurs when a bank is able to require the debtor account holder to clear all
transactions in that account.
a. Control
b. Perfection.
c. Termination
d. Redemption
A(n) __________ is an undertaking by one person, for consideration, to pay another
person a sum of money in the event of a specified loss.
a. absolute guaranty
b. indemnity contract
c. guaranty of payment
d. surertyship
State supreme courts primarily have what type of jurisdiction?
a. appellate
b. limited trial court
c. general
d. none of the above
A defrauded buyer may avoid the contract and recover damages.
Creditors who hold security for payment, such as a lien or a mortgage on the debtor€s
property, are less affected by the debtor’s bankruptcy.
A contract that has elements of both goods and services is always classified as a
contract for the sale of goods.
Someone who finds and resells stolen property passes on a good title to a good faith
purchaser.
State supreme courts generally hear all cases appealed to them.