Any adversely affected person may challenge the validity of an Occupational Safety
and Health Administration (OSHA) standard in a U.S. Court of Appeals.
A person who becomes a party to an instrument to add strength to the instrument for the
benefit of another party to the instrument is called a:
a. benefactor.
b. secondary obligor.
c. collateral obligor.
d. contingent beneficiary.
In general, an assignee stands:
a. in a position subordinate to the assignor.
b. exactly in the position of the assignor.
c. in a position superior to the assignor.
d. in a position similar to, but not equal to, the assignor.
Garnishment applies to the judgment debtor€s:
a. wages.
b. attorney fees.
c. land and home.
d. cars.
Law consists of:
a. principles that govern conduct.
b. mere guidelines.
c. arbitrary rules.
d. none of the above.
Consideration is:
a. the concern shown by the other contracting party.
b. what is demanded by the promisor as the price for the promise.
c. a stated number of dollars.
d. the concern of both contracting parties for the protection of the environment.
A copyright bestows upon the creator of an artistic or literary work a federal statutory
right to exclusively:
a. use the work.
b. reproduce the work.
c. display the work.
d. all of the above.
Parol evidence may be admitted to show that a provision was omitted as the result of:
a. fraud.
b. accident.
c. mistake.
d. all of the above.
In a joint venture, the parties:
a. combine their labor or property for a single undertaking and share profits and losses
equally.
b. combine their labor or property for a continuing business and share profits and losses
equally.
c. assume no personal liability beyond the risk of losing their initial investment.
d. none of the above.
A bill of lading that consigns the goods “to bearer” is called a:
a. nonnegotiable bill of lading.
b. straight bill of lading.
c. negotiable bill of lading.
d. common bill of lading.
What damages are recoverable in a case of promissory estoppel?
a. profits that the promisor expected
b. profits that the promisee expected
c. an amount necessary to restore the promisee to the position he or she would have
been in had the promisee not relied on the promise
d. an amount necessary to restore the promisor to the position he or she would have
been in had the promisor not relied on the promise
The policing of fraudulent advertising is entrusted to which of the following
administrative agencies?
a. IRS
b. FTC
c. UCCC
d. FDA
If oral, a stop payment order is binding on the bank for __________ days unless
confirmed in writing within that time.
a. five (5)
b. seven (7)
c. fourteen (14)
d. thirty (30)
An instrument is payable on demand if it is payable:
a. on or before a stated date.
b. at sight or presentation.
c. at a fixed time after acceptance.
d. all of the above.
Which is not an element of attachment?
a. the filing of a financing statement
b. a security agreement
c. value received by the debtor
d. the debtor has rights in the collateral
Which of the following is not an example of a state penalty for violating usury law?
a. restricting the lender to the recovery of the loan but no interest whatsoever
b. allowing the lender to recover the loan principal and interest up to the maximum
contract rate
c. restricting the lender to the recovery of the loan plus seventy-fifty percent (75%) of
the interest
d. requiring the lender to pay, as a penalty, double the interest the borrower paid on a
usurious loan
An express warranty can be made orally or in writing.
A contract for the sale of goods with a price of $500 or more requires written proof to
be enforceable.
Generally, only the parties to a contract may sue on it.
It is necessary that a third-party beneficiary be identified by name.
The vested rights of partners are not extinguished by dissolving the firm, and the
existing liabilities remain.
Conville signed a note as an officer of the Hughesville Manufacturing Corporation, but
she did not name the corporation in the note or indicate that she was acting as an officer
for it. Later, she was sued by the Grange National Bank, the holder of the note. She
raised the defense that the corporation was liable on the note. Who was liable?
The key to being able to have Internet Service Providers (ISPs) release identities of
those who post statements on the Internet is whether the posters were engaged in illegal
or harmful activities.