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1. The burden of proof in a civil case belongs to (Points
1. The burden of proof in a civil case belongs to (Points: 5) The defendant The jury The plaintiff The state 2. Which of the following is NOT a duty of an agent? (Points: 5) Loyalty. Accounting. Obedience. Compensation. 3. In contract law, consideration is (Points: 5) Exchanged legal value Payment in full Payment in money Payment in services 4. Embezzlement is (Points: 5) The act of forcefully and unlawfully taking personal property from another. The fraudulent making or altering of any writing. The wrongful taking and carrying away of another’s personal property. The fraudulent appropriation of money or other property by the person to whom it was entrusted. 5. Which is not a way by which a contract can be discharged? (Points: 5) The contract has been completely performed The contract is impossible to perform By substituted agreement The contract is no longer profitable 6. Punitive damages (Points: 5) Punish criminal wrong-doing Cannot be awarded for breach of contract Can be awarded in all cases Can be awarded when a breach of contract and intentional tort occurs 7. Which of the following Chapters of the Bankruptcy Code provides for liquidation? (Points: 5) Chapter 7 Chapter 11 Chapter 12 Chapter 13 8. The employment at will doctrine: (Points: 5) Allows either party to terminate the employment relationship at any time. Allows either party to terminate the employment for any reason. Allows either party to terminate the employment relationship at any time and for any reason. Has not been modified to protect employees from reporting employer wrongdoing. 9. Beth leaves a pair of new shoes at Carl’s Shoe Store to be dyed. Carl sells the shoes to Dian, who does not know that the shoes belonged to Beth. Beth can recover from: (Points: 5) Carl’s Shoe Store only. Carl’s Shoe Store or Dian. Dian only. Neither Dian nor Carl’s Shoe Shop. 10. Copyright laws protect (Points: 5) A corporation’s trade secrets A person’s innovative ideas An inventor’s product before it is mass produced The rights of the author of literary/artistic works 11. Non-compete covenants (Points: 5) Apply only in the sale of a business Are generally illegal Are legal if the restriction of competition is reasonable Cannot be contained in employment contracts 12. Under the Statute of Frauds, which contract must be in writing? (Points: 5) A pre-nuptial agreement All sales of personal property All sales to a minor under 18 years of age, they need their parents permission All sales 13. The most common type of property ownership allowing for the greatest possible rights, privileges, and power is (Points: 5) Lease Fee simple absolute Life estate Nonpossessory interests 14. When writing and executing a contract for the purchase of goods it is most important to (Points: 5) Be certain that the contract fully specifies the performance promised by each party and have it signed by all parties to the contract. Have only the buyer sign the contract. Record a copy with the court. Have only the seller sign the contract. 15. A contract between Lee and Mary may not be assigned if it (Points: 5) Does not expressly permit assignment. Involves a sale of goods. Involves personal services. Is oral. 16. Under the Uniform Commercial Code (UCC) a merchant is: (Points: 5) Anyone who sells real estate. Anyone who sells any personal property. A person who deals in the goods of the kind involved in the sale. A person who buys any kind of property. 17. A contract entered into by an intoxicated person may be: (Points: 5) Void Voidable Valid Voidable or Valid 18. An implied warranty of fitness for a particular purpose (Points: 5) arises when a seller knows the particular purpose for which the buyer will use the goods and the buyer is relying on the seller’s judgment to select suitable goods. imposes on a merchant liability for the safe performance of the product. warrants the goods sold are of a good quality. arises in a contract for personal services. 19. Dora writes a check for $100 drawn on Eastern Bank and presents it to Fast Cash, Inc., for payment. If the check is not backed by sufficient funds, Dora might be prosecuted for: (Points: 5) Forgery. Fraud. Negligence. Robbery. 20. Cody and Dina form Eagle Corporation. Eagle has a board of directors, a chief executive officer, a chief operating officer, and fifty-two shareholders. Eagle is governed by its (Points: 5) Board of directors. Incorporators. Officers. Shareholders.
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