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Linda_us
Linda_us, Finance, Accounts & Homework Tutor
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Experience:  Post Graduate Diploma in Management (MBA)
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1. A(n) __________ is a personal representative named by the

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1. A(n) __________ is a personal representative named by the court to perform as the executor would, in instances in which the deceased person has not left a will.

judge

administrator

attorney

agent


2. The law concerned with the unenforceable obligations that people have to one another is known as __________ law.

country

common

constitutional

moral


3. A private wrong that causes injury to physical well-being, property, or reputation of another person is called a(n):

tort.

crime.

execution.

misunderstanding.


4. The law allows for a certain amount of "sales talk," or puffing, that is not considered as:

undue influence.

duress.

fraudulent.

misrepresentation.


5. All but one of the following elements is required of an enforceable contract. The exception is:

offer and acceptance.

mutual agreement.

consideration.

malafide intention.


6. The document that lists the general powers of a corporation is called the:

memorandum of hierarchy.

memorandum of association.

articles of entrepreneurship.

articles of incorporation.


7. The Uniform Commercial Code provides that when a merchant sells goods, he or she warrants that the goods will comply with the following requirements, EXCEPT:

to pass without objection in the trade under the contract description.

being unfit for the ordinary purposes for which such goods are sold.

conforming with the promises or statements of fact made on the container or label.

be adequately contained, packaged, and labeled as the agreement may require.

8. Patents, rights to drill for oil on someone's land, and copyrights of creative works such as books are __________ possessions.

special

tangible

inalienable

intangible


9. The Securities Exchange Act of 1934 covers the trading of these same securities in the __________ market, defined as the place where one member of the public sells securities to another member of the public.

primary

secondary

consumer

labor


10. All of the following are the characteristics that become the bases of product liability claims against manufacturers and sellers, EXCEPT:

product flaw.

failure to warn.

guarantee.

design defect.
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