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1) there is/are no _____ for violating the provisions of the clayton act.
a.injunctive relief
b.treble damages
c.cease-and-desist orders
d.criminal penalties
2) which of the following has not been categorized as a suspect class?
a.race and national origin
b.alienage
c.sexual orientation
d.illegitimacy
3) profit maximization results in ethical conduct because:
a.it emphasizes the right to redistribute wealth in order to help the poor and
disadvantaged.
b.it requires societys members to act within the constraints of the law.
c.it protects fundamental rights, unless some greater right takes precedence.
d.it focuses on the decision or action itself, irrespective of what results it produces.
4) what is a lien?
a.compensation by a bailee for any damages to the bailed property.
b.the charges for delivery of any bailed property.
c.a charge against property to secure the payment of a debt.
d.a bailment for mutual benefit.
5) stella, bob, and chris are partners in sole services, a general partnership that runs a
small shoe store. stella and bob want to buy the building that they are currently renting,
but chris does not agree. how will this disagreement be resolved?
a.sole services will buy the building because this management decision can be made by
a majority vote of the partners.
b.sole services will buy the building because one partner can never stand in the way of
the will of the majority of partners.
c.sole services will not buy the building because this decision requires a unanimous
vote of the partners.
d.sole services will not buy the building because all partnership management decisions
require a unanimous vote of the partners.
6) which of the following characterizes assignability?
a.an assignment is ineffective if it occurs in the present.
b.an assignment is ineffective in the case of land rights.
c.an assignment is ineffective when contrary to public policy.
d.an assignment is mostly effective in the case of wage earners.
7) teresa rented an apartment from len for one year, beginning january 1, 2008. when
teresa tried to take possession of the rental unit, paul, a prior renter, was still there.
teresa asked len to help her get paul out. len simply shrugged, telling teresa that it was
now her problem.
a.teresa must bring an eviction action against paul.
b.teresa must wait for paul to vacate the premises at his convenience.
c.len breached the implied warranty of possession.
d.len and teresa have created a periodic tenancy.
8) a(n) _____ is created by operation of law rather than the sellers express statements.
a.endorsement
b.advertisement
c.express warranty
d.implied warranty
9) a check on which one bank is the drawer and another bank is a drawee is a:
a.cashiers check.
b.antedated check.
c.certified check.
d.tellers check.
10) a firm claiming a trade secret must show that it:
a.took reasonable measures to ensure secrecy.
b.gave adequate compensation for the work.
c.has a license to produce the product.
d.has enough research to back the product.
