In a criminal conspiracy, the commission of the act is not necessary.
Registered accounting firms that audit more than 100 public companies annually are
subject to inspection and review by the Public Company Accounting Oversight Board
(PCAOB) once a year.
Under the objective theory of contracts, the subjective intent of a party to enter into a
contract is irrelevant.
The Clean Air Act does not apply to stationary sources of pollution.
If the statute of repose for strict liability is five years and an injured party files a suit
seven years after the date of purchase of a defective product, the manufacturer or seller
of that defective product is relieved of liability.
The Williams Act is an amendment to the Securities Exchange Act that specifically
regulates tender offers.
The law courts of the English common law emphasized legal procedure over the merits
of an individual case.
Persons injured by a Racketeer Influenced and Corrupt Organizations Act (RICO)
violation can bring a private civil RICOaction against the violator.
The sale of securities by an issuer to the public is known as an initial public offering.
Assault and battery are mutually exclusive torts that do not occur together.
A person can purchase a(n) ________ from a bank by paying the bank the amount of
the check plus a fee for issuing the check.
A) indorsed check
B) ordinary check
C) blank check
D) cashier’s check
Which of the following statements is true of the patent period in the United States?
A) It follows the first-to-invent rule.
B) The patent period for an invention is 17 years.
C) The patent term begins to run from the date the patent application is filed.
D) The patent term begins to run from the date the patent is issued.
The tort of defamation of characterrequires a plaintiff to prove that the defendant
________.
A) publicized a private fact about the plaintiff
B) insulted people closely related to the plaintiff, such as family or friends
C) published an untrue statement of fact about the plaintiff to a third party
D) made one or more financial deals with the plaintiff under a false identity
What kind of divorce would Sally seek to best represent her state?
A) emancipation
B) annulment
C) at-fault divorce
D) no-fault divorce
A formal entrance into a contract between a client and an accountant is known as an
________.
A) abatement
B) arraignment
C) easement
D) engagement
A contract is a(n) ________ if the offeror’s promise is answered with the offeree’s
promise of acceptance.
A) unilateral contract
B) bilateral contract
C) executed contract
D) executory contract
Which of the following is regulated by the Securities Act of 1933?
A) fraud in the purchase and sale of securities
B) hedge funds and derivatives
C) reporting to the investors
D) the issuance of securities online
________ refers to the right of a partner to be reimbursed for expenditures incurred on
behalf of the partnership.
A) Indemnification
B) Proliferation
C) Lucubration
D) Fenestration
An offeror uses blackmail to make an offeree sign a contract that involves the sale of
the offeree’s house. The contract is ________.
A) valid
B) void
C) voidable
D) unenforceable
Which of the following is considered to be a part of intellectual property?
A) buildings
B) vehicles
C) business contracts
D) patents
The ________ is a federal statute that makes it a crime to intercept an electronic
communication at the point of transmission, while in transit, when stored by a router or
server, or after receipt by intended recipient.
A) UCITA
B) ECPA
C) ACPA
D) ICANN
Ordinances are codified laws that are issued by ________.
A) the president
B) the state legislature
C) the Supreme Court judges
D) local government bodies
An invitation to make an offer or an actual offer is referred to as a(n) ________.
A) proposal
B) reward
C) advertisement
D) bid
Which of the following statements is true of the suicide clause in a life insurance?
A) The insurer is liable to pay in cases of legitimate suicides even if the life insurance
policy had elapsed.
B) The suicide clause has a specified date set.
C) The insurer doesn’t have to pay the beneficiary even if the suicide takes place after
the specified date.
D) The suicide has to occur within the specified date for payment.
The ________ is a federal administrative agency created by Congress to coordinate the
implementation and enforcement of the federal environmental protection laws.
A) Ministry of Environmental Protection
B) Environmental Investigation Agency
C) Environmental Protection Agency
D) Global Environment Facility
What is a patent number?
A) a number assigned to a patent during application
B) a number assigned to a patent when the patent is pending
C) a number assigned to a patent once the patent is granted
D) a number assigned to a patent when it comes under investigation
Which one of the following is a three-party transaction?
A) a promissory note
B) a certificate of deposit
C) an ordinary lease
D) a draft
A power of attorney where a principal confers powers on an agent to act in specified
matters on the principal’s behalf is referred to as a(n) ________.
A) implied power of attorney
B) general power of attorney
C) limited power of attorney
D) special power of attorney