Business Law: Intellectual Property, Contracts, And Corporate Structures

Preview (9 of 27 Pages)

100%

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 1 preview image

Loading page ...

Business Law: Intellectual Property, Contracts, and Corporate StructuresQuestion 11 pointsSaveA patent may not be issued for:a. a processb. a manufacturec. a composition of matterd. a theorye. any of the aboveQuestion 21 pointsSaveWith respect to warranty disclaimers, under the UCC a seller:a. may never disclaim a warrantyb. may only disclaim implied warrantiesc. may disclaim only express warrantiesd. may disclaim any warranty except a warranty of titlee. may disclaim any warranty so long as the disclaimer followsUCC rulesQuestion 31pointsSaveA 16-year-old goes to a used car dealership and pays $2,000 cash to buya car off the lot.a. assuming no fraud by the dealer, and that the car is really worthabout $2,000, the contract is validb. the dealer realizes that the car is worth more than $2,000, so hecan void the contract and insist on the car backc. the 16-year-old can bring the car back the next day and demandhis money back because the contract is voidabled. the parents of the 16-year-old cannot try to get the money backfor the car because parents are responsible for providing theirchildren with necessitiese. none of the aboveQuestion 41 pointsSaveTrademarks are classified as:a. genericb. suggestive

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 2 preview image

Loading page ...

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 3 preview image

Loading page ...

c. descriptived. arbitrary and fancifule. all of the aboveQuestion 51 pointsSaveFactors that influence the choice of a particular form of businessorganization may include:a. capital requirementsb. durationc. tax ratesd.transferability of interestse. all of theseQuestion 61 pointsSaveWhen a persons suffers an injury due to deliberate deception, there maybe a tort of:a. fraudb. misrepresentationc.fraudulent misrepresentationd. deceite. all of the aboveQuestion 71 pointsSaveStrict liability may be imposed if you, the buyer, receive an oral or writtenstatement about the quality of a good, that statement becomes part ofyour bargain with the manufacturer, and you suffer an injury because thestatement was not accurate.This is known as:a. implied warrantyb. express warrantyc. caveat emptord. product warrantye. none of the aboveQuestion 81 pointsSaveThe rules that regulate and govern the internal operations of acorporation are known as:

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 4 preview image

Loading page ...

a. the certificate of incorporationb. the bondc. the bylawsd. statutes of businesse. the corporate constitutionQuestion 91 pointsSaveA composition involves:a. repaying a percentage of the total amount of a debtb. turning over obligations to pay to a third partyc. allowing a guarantor to withdraw from a debt obligationd. turning over right to payment to a third partye. rehabilitating a creditorQuestion 101 pointsSaveIf a negotiable instrument is assigned, the assignee has:a. has the same contract rights and responsibilities as theassignorb. the same contract rights as the assignor, but is relieved of anyresponsibilities of the assignorc. the same responsibilities as the assignor, but not the contractrights of the assignord. has neither the rights or responsibilities of the assignors; thoseare determined by a new contract between the partiese. none of the aboveQuestion 111 pointsSaveA private nuisance involves:a. a reasonable interference with the enjoyment of landb. a substantial interference with the use of landc. an unreasonable interference with the enjoyment of landd. either b or ce. violation of a statute prohibiting bad actsQuestion 121 pointsSave

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 5 preview image

Loading page ...

If the parties to a sale under the UCC do not specify when the title to thegoods passes, then, assuming goods have to be shipped, title passes tothe buyer:a. when the seller completes obligations regarding delivery of thegoodsb. when the seller ships the title documents and goodsc. when the buyer inspects the goodsd. when the buyer makes "substantial" paymente. any of the aboveQuestion 131 pointsSaveA legally binding contract that can be terminated at the option of one ofthe parties is called:a. an executed contractb. a formal contract with an escape clausec. a voidable contractd. a void contracte. a parolevidence contractQuestion 141 pointsSaveThe courts may impose obligations on one party to a dispute to avoidunjust enrichment to the other party.This is called:a. unenforceable contractb. voidable contractc. implied contractd. void contracte.quasi-contractQuestion 151 pointsSaveIt is customary for new car dealers to clean and check every new carthey seelprior to delivery to the customer. Danver Motors failed to cleanandcheck a carbefore delivering a new car to abuyer. A check wouldhave revealed that the exhaust was leakinginto the passengercompartment. While driving home, the buyer was overcome by carbonmonoxide and crashed.Is Danver Motors liable?a. If the buyer can demonstrate his/her "actual reliance" on theseller's expertise, then the dealer may be held liable for a breach

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 6 preview image

Loading page ...

of an implied warranty of merchantability.b. The dealer may be liable to a buyer for breach of an impliedwarranty arising from merchantability.c. If the buyer can demonstrate his/her "actual reliance" on thedealer's expertise and that the dealer had "reason to know" theproblem existed, then the dealer may be liablefor breach of animplied warranty for fitnessfor a particular purpose.d. Since the new car was covered by a written warranty,thedealer is liable under a warranty of title..e. The dealer cannot be held liable; theliability rests solely withthe manufacturer.Question 161 pointsSaveContracts that have not been fully performed by either party are whatkind of contracts?a. executoryb. executedc. impliedd. voidablee. none of the aboveQuestion 171 pointsSaveIn a (an) _________________, the debtor makes a minimum monthlypayment and more debt can be added to the account over time.a. collections accountb. installment accountc. revolving accountd. open accounte.security accountQuestion 181 pointsSaveTo raise needed capital, small companies often rely on:a. currency exchangesb. commodities marketsc. debt financingd. equity financing

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 7 preview image

Loading page ...

e.derivative financingQuestion 191 pointsSaveThe Uniform Partnership Act (UPA) has been adopted in:a. six statesb. twelve statesc. twenty-two statesd. all but one statee. none of the above; it is a federal statuteQuestion 201 pointsSaveTrademarks, trade names, patents, and copyrights represent a categoryof property called:a. intangible propertyb. tangible propertyc. real propertyd. statutory propertye. personal propertyQuestion 211pointsSaveThe most common defense to a claim of defamation is:a. consentb. proximate causec. truthd. self-defensee. protection of othersQuestion 221 pointsSaveWhen a wrong doer/tort feasor harms a person's interest in land orpersonal possessions, this is referred to as:a. a misdemeanorb. a contractual wrongc. a tort against property

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 8 preview image

Loading page ...

d. a libel against the persone. none of the aboveQuestion 231 pointsSaveFor many small businesses, the quickest and least expensive way toaccomplish liquidation is:a. a Chapter 13 proceedingb. a Chapter 7 proceedingc. an assignmentd. a disputatione. a reorganizationQuestion 241 pointsSaveThe process of settling the accounts and liquidating the assets of acorporation is called:a. terminationb. certificationc. transferenced. dissolutione. none of the aboveQuestion 251 pointsSaveWhen a business lends another business money, it should perfect itssecurity interest by:a. applying to the IRS for securityb. filing its financing statement with the state secretary of statec. preparing its inventory for satisfactiond. obtaining a late-term guarantore. none of these courses of actionQuestion 261 pointsSaveA ____________ is an association of two or more persons to carry on abusiness as co-owners for profit.a. proprietorship

Business Law: Intellectual Property, Contracts, And Corporate Structures - Page 9 preview image

Loading page ...

b. corporationc. partnershipd. cooperativee. all of the aboveQuestion 271pointsSaveA company sells franchises in a business. Before franchises may besold to franchisees, the franchisor must:a. register with the SEC under the 1933 Securities Actb. register with the SEC under the Investment Company Actc. register with the CFTCd. comply with FTC regulations, and given a prospective buyer adetailed disclosure documente. none of the aboveQuestion 281 pointsSaveWhich of the following debt item(s) are not extinguished by a Chapter 7bankruptcy?a. alimony and child support paymentsb. back taxesc. debts incurred by fraud against creditorsd. fines owed to the governmente. all of the aboveQuestion 291 pointsSaveAn express warranty may be created by all but which of the following:a. a seller's promise about goods being soldb. a seller's guarantee regarding the safety of a goodc. the sample the buyer received from the sellerd. the description of the goods provided by the sellere. any of the aboveQuestion 301 pointsSaveToday a corporation must be created according to:

Preview Mode

This document has 27 pages. Sign in to access the full document!

Report

Study Now!

Document Details

Related Documents

Property Law Drill 1 Ownership, Property Types, an

Property Law Drill 4 Marital Property, Land Owners

Property Law Drill Ownership, Family Code, and Sta

Case Analysis of Soji and Parental Duty

Undue Influence in Contract Law Key Cases and Clas

Assessment 2 Job Hazard Analysis JHA

Assessment 1 Long Answer Question

Introduction to Law and Key Concepts and Principle

CIV 3702 Assignment 1

Final Project Milestone One Malpractice Case

Company

Explore

Study Tools