1.
Bonds wrote McGuire, �I will sell you my house and lot at 419 West Lombard
Street, San Francisco, California for $950,000 payable upon merchantable deed,
deal to be completed within 60 days of the date of your acceptance.� Assuming
that Bonds� letter contains terms which are deemed sufficiently certain and
definite, which of the following statements is correct?
A) Bonds� letter is
B) Bonds� letter is
make an offer.
C) Bonds� letter is
the
circumstances would
D) Bonds� letter is
it as an offer.
not an of fer unless Bonds intended it to be an offer.
not an offer unless McGuire thought Bonds intended to
an offer if a reasonable person with full knowledge of
be justified in thinking it was intended as an offer.
not a offer unless both Bonds and McGuire considered
2.
Iverson Jewelers wrote a letter to Miller, �We have received an
exceptionally fine self winding Rolox watch which we will sell to you at a very
favorable price.�
A) The letter is an offer to sell.
B) A valid offer cannot be made by letter.
C) The letter contains a valid offer which will terminate within a
reasonable time.
C) The letter lacks one of the essential elements of an offer
3.
Sammy agreed to sell and Larry agreed to buy Sammy�s car for $400, payable
upon delivery. Sammy delivered and left the car with Larry. However, Larry
failed to pay Sammy the $400. After eight years had passed following the
delivery and acceptance of the car by Larry, Sammy sued Larry in state court for
failure to pay him the $400. Based only on the above stated facts, which of the
following statement is most accurate? Assume the UCC applies and the statute of
limitations for oral contracts is two years and for written contracts is four
years.
A)
No contract was ever created between Sammy and Larry.
B)
A contract was created but likely not enforceable because the
statute of limitations
has expired.
C)
A contract was created, but it is only enforceable if it is in
writing.
D)
A contract was created and is enforceable.
.
4.
The body of law which establishes rights between persons and provides for
redress for violation of those rights is known as:
A)
B)
C)
D)
Criminal Law.
Civil Law.
The Uniform Commercial Code.
Stare decisis
5.
In most states the following types of contracts are within the statute of
frauds.
A)
B)
formation.
C)
D)
Contracts for the sale of an interest in personal property.
Contracts that can be performed within a year from the date of their
Contracts for the sale of goods.
Contracts for the sale of goods for a price of $500 or more
6.
Robert makes the following statement while negotiating the sale of his
car, �This is the sharpest car on the market.� His statement may support a claim
for:
A)
B)
misrepresentation.
fraud.
C)
D)
fraud and misrepresentation.
none of the above.
7.
Tom and Jerry entered into a contract whereby Tom agreed to sell Jerry
$1,000 worth of heroin, an illegal substance. This is an example of a:
A)
quasi contract.
B)
void contract
C)
voidable contract.
D)
secondary party beneficiary contract.
8.
Alexander Klein has a small company that builds automobile parts. He is
the company�s only owner and has one employee. He wants to create a formal
business entity for the organization to protect himself from liability, but does
not want to appoint a board of directors. What is the best business structure
for Alexander?
A) A sole proprietorship
B)
A partnership
C) An LLC
D) An LLP
E) A corporation
9.
Sue Smith signs a contract promising to give her son $200. The sole
stipulation in the contract is that Ms. Smith will deliver the money on December
1. Ms. Smith fails to pay her son the $200. Can he sue her for breach of
contract?
A) Yes, because Ms. Smith signed the contract and it was valid and
enforceable
B) Yes, because the contract had a firm explanation of the terms,
including the amount to
be paid and the date to be paid
C) No, because there is no proof Ms. Smith read the contract before she
signed it
D) No, because the contract is lacking consideration
10.
Joseph, who has a fee simple absolute ownership stake in Blackacre,
grants Caroline a life estate. Caroline names Michael and Stacy as Blackacre�s
tenants in common in her will. Stacy then passes away, leaving her entire estate
to Susan. Upon Caroline�s death, who owns Blackacre?
A) Joseph
B) Caroline
C) Michael
D) Susan
E) Michael and Susan
11.
Clark works for Widget Makers Incorporated as a delivery person. In the
course of delivering a package, Clark hits Mary with the truck he is driving and
Mary sustains serious injuries. Can Mary sue Widget Makers Incorporated for
damages?
A) No, because Mary was hit by Clark, not by Widget Makers
B) No, because Widget Makers Incorporated is a corporation and thus immune
from personal liability
C) Yes, because Clark was acting as an agent for Widget Makers
Incorporated
D) Yes, because Clark is insolvent and Mary will otherwise be unable to
collect damages
12.
Thousands of customers purchased toasters from Mr. Toast Company, but
unfortunately the toasters did not toast at all. The toasters contained no
warranty. They didn�t cause any injury or other damages, they simply did not
function. Is there a potential cause of action for those who bought the nonfunctioning toasters?
A) Yes, because of the implied warranty of merchantability
B) Yes, because of the implied warranty of fitness
C) Yes, because of the implied warranty of title
D) No, because the toaster did not contain a warranty or cause damages
13.
Kelly and Kara own property as joint tenants with right of survivorship.
Kelly wills her share in the estate to Jim when she dies. Kara wills her share
in the estate to Matt. Kelly dies in January 2011 and Kara dies in February
2012. Who owns the property after Kelly and Kara�s deaths?
A)
B)
C)
D)
Jim with a fee simple absolute
Matt with a fee simple absolute
Jim and Matt as joint tenants with right of survivorship
Jim and Matt as tenants in common
14.
Jesse�s Cafe made an oral agreement with Lou�s Deli that they would
deliver 100 sandwiches to the Deli every day for three years at a price of $2
per sandwich. Jesse�s Cafe never delivered a single sandwich and Lou�s Deli lost
a lucrative catering contract. Does Lou�s Deli have a cause of action for breach
of contract?
A) Yes, because Jesse�s Cafe breached the contract when they failed to
deliver the
sandwiches
B) Yes, because Lou�s Deli incurred actual damages when they relied on the
contract
C) No, because the contract is not a valid contract due to the statute of
frauds
D) No, because there was no consideration
15.
Tim and Tina own a company as equal partners. Tina embezzles money from
customers and disappears. Can Tim be sued by the customers for the funds Tina
stole?
A) Only if Tim was complicit in the theft
B) No. Tim cannot be sued, but the partnership can be
C) Only if Tina cannot be found
D) Yes, Tim is jointly and severally liable for Tina�s actions
16.
Marissa and Susan both sign a contract in which Marissa agrees to sell
Susan a boat for $600. The contract also stipulates that Marissa will include a
towing hitch for the boat. Marissa delivers the boat and Susan pays the $600.
Marissa refuses to deliver the towing hitch, claiming that they had only
discussed the sale of the boat and that she hadn�t read the contract with its
provision about the towing hitch before signing. Did Marissa breach the
contract?
A) Yes, because she failed to deliver the towing hitch when promised
B) No, because she did not read the contract and understood that she was
selling only the boat
C) No, because she delivered the boat which was the primary form of
consideration in the
contract
D) No, because there was no consideration for Marissa�s delivery of the
towing hitch
17.
Which came first in time?
A)
B)
C)
D)
U.S. Constitution
Articles of Confederation
Confederate States of America
U.S. statutory law
18.
This article of the Constitution makes federal law the supreme law of the
land.
19.
A)
B)
C)
D)
State
Article II
Article IV
Article VI
Article VII
constitutions tend to be _____ the U.S. Constitution.
A)
B)
C)
D)
less detailed than
about the same detailed
more detailed
no general statement is possible
20.
Courts that have power to review a case for errors of law are courts of
_____ jurisdiction.
A)
original
B)
C)
D)
appellate
general
special
21
Julie, a Michigan citizen, and Nicholas, a Montana citizen, are involved
in a dispute that is being heard in federal court under diversity of citizenship
jurisdiction. What law should the court apply?
A)
B)
C)
D)
22.
federal
Michigan
Montana
general law
Cyberspace jurisdiction in court cases is determined by _____.
A)
B)
C)
D)
a special
a case by
the state
the state
federal statute
case analysis
statute where the plaintiff resides
statute where the Defendant resides
23.
Adam attends a professional golf tournament as a spectator on a cloudless
day and is struck by lightning, resulting in a serious injury. Adam sues the
organizers of the tournament. For Adams suit to succeed, he must prove that the
tournament's organizers _____.
A)
should have consulted the weather bureau
B)
should have reasonably foreseen the risk of injury
C)
should have known the dangers of lightning
D)
attracted him to the location by organizing the tournament
24.
Newman offers at auction a gold watch with a fair market value of $10,000
but the highest bid is $1,000. Newman may legally _____.
A)
B)
C)
D)
not reject the high bid
reject the high bid
insist the bidder pay at least 50% of the fair market value
sue the auctioneer for the $9,000 difference
25.
How much detail must be contained in a written contract for the sale of
goods?
A)
B)
C)
D)
subject
subject
subject
subject
matter and parties only
matter and quantity only
matter, quantities and parties only
matter, quantities, parties and price.
26.
In a $5,000 sale of goods contract, Ally and Jennifer agree that the
damages shall be $300 if either party breaches the contract. These damages
_____.
A)
B)
C)
D)
are never enforced by the Court
must be approved by a trustee
must be customary by trade
are called liquidated damages
27.
On May 1 the
case. The price of
June 1. By June 15
is entitled to for
A)
B)
C)
D)
$100
$50
$25
$5
seller breaches a contract with a contract price of $50 per
the goods rises to $55 per case by May 15 and $75 per case by
when the buyer covers the price is $100 per case. The buyer
_____ per case.
28.
A contract calls for delivery to occur on June 1 but on May 1 the seller
indicates that she will not deliver the goods. The buyer may _____.
A)
B)
C)
D)
29.
seek another source of goods
not take action until after June 1
seize the goods if it may be done with a breach of peace
file criminal charges
Personal property consists of the following kinds:
A)
B)
C)
D)
tangible and intangible
tangible, intangible, and chattels
tangible, intangible, chattels, and choses in action
tangible, intangible, choses in action, and real estate
30.
Diana is in a joint tenancy with Silvia. Diana's will leaves all her
property to Peter. When Diana dies, her interest in the joint tenancy goes to
_____.
A)
B)
C)
D)
31.
A life estate may be created by _____.
A)
B)
C)
D)
32.
Telephone Company
City
Telephone company and city
telephone company, city and real estate developer
A landlord may take what actions to evict tenants?
A)
B)
C)
D)
property
36.
growing crops
fences
trees
buildings
Eminent domain may be only available to a(n)
A)
B)
C)
D)
35.
real property
license
personal property
an easement
Which of the following is not real property?
A)
B)
C)
D)
34.
deed
will
law
deed, will or law
At its earliest stage of existence, a fixture is _____.
A)
B)
C)
D)
33.
Silvia
Peter
Silvia and Peter in equal shares
the State of Montana
The landlord may
use reasonable force
threaten to use reasonable force
peacefully take possession of the property
bring suit and receive an order of eviction before repossessing the
What general legal rules apply to a lease?
A)
B)
C)
D)
37.
Quiet enjoyment means that the tenant
A)
B)
C)
D)
38.
tort
constitutional
property
contract
will
will
will
will
?
not be disturbed by noisy neighbors
have undisturbed possession
enjoy the rental premises
not disturb other tenants
What are filing locations for financing statements?
A)
county recorder
B)
secretary of state�s office
C)
county recorder and secretary of state�s office
D)
county recorder, secretary of state�s office and federal district
court clerks
39.
The buyer of goods in the ordinary course of business prevail over
security interests in the seller's inventory except for _____.
A)
B)
C)
D)
40.
A variable-rate mortgage must include a _____.
A)
B)
C)
D)
41.
fungible goods
specially manufactured goods
fixtures
farm products
maximum interest rate
an average interest rate
a minimum interest rate
a daily interest rate
A home equity loan is an example of a _____ mortgage.
A)
B)
C)
D)
junior
senior
subordinated
redemption
42.
A mortgagee may not discriminate against borrowers based upon all of the
following except:
A)
B)
C)
D)
race
creed
color
age
43.
In a voluntary bankruptcy, what person first indicates what property of
the debtor is considered exempt?
A)
B)
C)
D)
the
the
the
the
trustee
debtor
creditor
clerk of the Court
44.
Jake owes the following creditors to whom he is not making payments: Abco
Enterprises - $10,000; Susan - $1000; Big University - $3000; Direct Auto
Finance - $5000. Which of these creditors may force Jake into involuntary
bankruptcy?
A)
B)
C)
D)
any three
only Abco and Susan
any three whose total debt exceeds $11,625
any three whose total debt exceeds $17,425
45.
Tina is filing for bankruptcy and owns her grandmother's wedding ring,
valued at $3000. Will she be able to keep the ring as exempt property?
A)
B)
C)
D)
no
yes, if she uses part of her exemption for household items
no, since there is no exemption for jewelry
yes, since family heirlooms are exempt
46.
Elaine fails to list on her Chapter 7 bankruptcy petition a $5000 debt
owed to her sister, Julia. After the bankruptcy is completed, Julia demands
payment from Elaine. What is the legal status of this debt?
A)
B)
C)
discharged
D)
Elaine owes it since it was not listed
Elaine does not owe it since it was owed to an insider
Julia should have objected during the bankruptcy and now the debt is
Julia cannot compel Elaine to pay an unsecured debt
47.
Cade agrees to "watch" Cassie's house while she backpacks in the Andes.
One day a severe hailstorm breaks a number of windows in Cassie's house and Cade
contracts with Clear Glass Co. to replace the windows and bill Cassie. Is Cassie
required to pay Clear or is Cade?
A)
B)
C)
windows.
D)
Cade, since he entered into the contract without authority.
Cassie, since there was an agency by necessity.
Cade, since there were alternatives other than replacing the
Cassie since she owns the house
48
Trudy is employed by Pike to sell Pike's house. The contract between Trudy
and Pike must be written under what legal rule?
A)
B)
C)
D)
Statute of Frauds
Del Credere agency
Equal Dignities
Equal authority
49.
Charles, Monica and Daisy are partners. Monica employs George to negotiate
a purchase of a building for the contract. What is the legal status of this
situation?
A)
B)
bound.
C)
D)
Charles and Daisy are not bound to the contract.
Monica is bound to the contract only if Charles and Daisy are also
George is the only person bound to the contract
Charles, Monica and Daisy are bound to the contract.
50.
David and Juanita enter into a contract. Juanita does not know that David
represents Henry, but subsequently learns of this agency. What person or persons
may Juanita hold to the contract?
A)
B)
C)
D)
51.
David only
Henry only
both David and Henry
either David or Henry but not both
Paris is authorized by Mechanical Enterprises Co. to negotiate the
purchase of a new dragline by Mechanical Enterprises. Paris is a(an) _____.
A)
B)
C)
D)
general agent
special agent
del credere agent
factor
52.
Jiro employs Marshall to sell his merchandise to local stores. Marshall
kills Hasan, an employee of a competitor of Jiro, to prevent Hasan from making
sales to stores that Marshall is visiting. Is Jiro criminally liable for the
killing of Hasan?
A)
B)
C)
D)
53.
No, since Marshall acts on his own.
Yes, since this should be foreseeable.
No, since he did not authorize the crime.
Yes, since the crime furthered Jiro's business.
The "scope of employment" involves _____.
A)
B)
C)
D)
a
a
a
a
limited group of activities that the principal is engaged in.
range of activities for which the servant is engaged.
technical legal definition.
list of duties specified in an employment contract.
54.
Julia allows her housekeeper to purchase a variety of household items on
Julian's credit account at Home Supply Co. One day the housekeeper purchases all
new appliances, charged to Julian's credit account, and after having them loaded
on a truck, disappears. What legal doctrine may make Julian liable to Home
Supply Co. for this purchase?
A)
express authority
B)
implied authority
C)
apparent authority
D)
authority by operation of law
55.
Wayne, an agent for Vadra, learns that the submission date for bids on a
Titan Co. construction contract Vadra wants to obtain and has received bid
information concerning, has been changed from December 1 back to November 15.
Wayne fails to tell Vadra, who submits a bid on November 30 which is rejected.
What legal rule governs this situation?
A)
Vadra did not know of the change and therefore has submitted the bid
on time.
B)
Wayne had no duty to inform Vadra.
C)
Titan Co. had no right to inform Wayne.
D)
Wayne's knowledge is imputed to Vadra.
56.
Nami, agent for Titan Co., informs Titan that she plans to offer customers
a ten percent discount to stimulate sales. Titan does not object, but when the
discounted orders come in, Titan rejects the orders
A)
Nami has no authority to offer discounts.
B)
Nami has to obtain written permission to offer discounts
C)
Nami has express authority.
D)
Nami has to personally pay Titan the ten percent discount.
57.
Boss Smith tells employee Jones at an employee meeting, to "beg not to be
fired." Jones does but Smith fires him anyway. Does Jones have legal recourse
against Smith?
A)
Not if this happens in an employment-at-will state.
B)
Yes, for intentional infliction of emotional distress.
C)
No, since Jones could have simply walked away.
D)
Yes, for fraud since he was fired anyway.
58.
Sam, a valuable skilled employee of Alpha Industries, agrees to continue
working for Alpha when Alpha agrees to pay the college tuition expenses of his
children. Alpha subsequently refuses to honor this promise. What legal recourse
does Sam have?
A)
None, since he was paid for his work.
B)
Sam may sue based upon an implied contract.
C)
Sam may sue for a violation of the FLSA.
D)
59.
A union violates its duty of fair representation if:
A)
It discriminates in its bargaining position between certain identified
groups of employees it represents.
B)
It refuses to arbitrate a grievance brought by a represented employee
because it has concluded it cannot win.
C)
It refuses to investigate a grievance because the grievant has not
yet begun
paying dues to the union.
D)
It settles a discharge grievance for reinstatement but only partial
backpay.
60.
Molly borrowed $5,000 from Larry and, as collateral, gave him jewelry and
authority to sell the jewelry if she defaulted. Afterward, Molly had second
thoughts and revoked the agency. Which of the following statements is true?
A)
B)
C)
D)
Molly
Molly
Molly
Molly
can terminate the agency if she paid the loan.
can terminate the agency based on impossibility of performance.
can't terminate the agency unless she claims bankruptcy.
can't terminate the agency unless Larry sold the jewelry
61.
Eric has gradually been losing his eyesight, which has adversely affected
his work. When the boss fires Eric, she tells him that she's letting him go
because he can't see anymore. Eric's discharge is
A)
wrongful because once hired, employees can't be discharged due to
disability.
B)
wrongful if the employer can make a reasonable accommodation for his
disability.
C)
not wrongful if he can't perform the job without reasonable accommodations
by the employer.
D)
not wrongful because it didn't involve a hiring decision
62.
Tony tries to start a union at Big Tech, Inc. His employer learns of his
attempt to organize a union and fires him. Big Tech's actions
A)
B)
C)
D)
are permitted if the state has adopted right-to-work legislation.
constitute an unfair labor practice.
are permitted.
are permitted if they first give Bob notice forbidding the union.
63.
Irene hires Mark to do work for her. In the course of performing that
work, Mark causes injury to a third party. Which of the following statements is
true?
A)
Irene isn't liable for the injury whether Mark is an employee or an
independent contractor.
B)
Irene is liable for the injury whether Mark is an employee or an
independent contractor.
C)
If Mark is an employee, Irene is liable for the injury.
D)
If Mark is an independent contractor, Irene is liable for the injury.
64.
Identify the statement about US corporate law history which is true:
A.
US corporations, unlike their British counterparts, were from the
beginning used for business and industry with large capital needs -- water
works, roads, banks
B.
Delaware was the first state to adopt a general incorporation statute,
which permitted business corporations to be formed without special legislation
C.
the federal securities laws, which mostly deal with disclosure to
investors, were enacted in the 1930s in response to perceived weaknesses in
state law
D.
the Sarbanes-Oxley Act of 2002 creates the possibility of forming a
publicly-traded corporation under a federal incorporation regime
65.
A, B, and C are partners in ABC partnership.
down. A wants out. She can accomplish this by --
Their relationship breaks
A.
selling her partnership interest to partner B, even without partner C's
consent
B.
stating she is withdrawing, thus dissolving the partnership and forcing B
and C to liquidate the business and pay her share to her in cash
C.
selling her partnership interest to stranger D, assuming partner C's
consent (thus obtaining the approval of a majority of the partners)
D.
merging the partnership into ABC Corporation and then selling her shares
on the open market
66.
Which of the following statements is not true?
A)
in a limited liability partnership, partners are not personally liable for
the commercial obligations of the business
B)
in a limited partnership, limited partners cannot participate in the
management of the partnership (ie, writing checks) without incurring personal
liability
C)
in a close corporation, the shareholders lack a readily-available market
into which they can sell their shares
D)
in a publicly-traded corporation, the shareholders can redeem their shares
by selling them to the corporation on public stock markets
67.
Three friends D, E and F agree to go into business installing home
insulation. They agree to share profits and properly register their partnership
as HomeInsulate LLP. Despite opposition by D and E, F signs a contract to
undertake an insulation project for a shopping center, a type of commercial
project the business has never undertaken before. When the project falters and
the shopping center sues, who is liable?
A.
only the partnership, because it is an LLP in which the partners have
limited liability and F was acting with apparent authority
B.
only F, because he signed the contract and lacked authority to bind the
partnership given that the partnership name limits the business to residential
projects
C.
all three partners D, E and F, because the act of any one partner binds
the partnership and all partners share jointly and severally in partnership
liability
D.
nobody (neither the partnership nor the partners) because F acted without
actual authority in signing a contract beyond the partnership�s usual business
68.
DEF Corp. has a board of five directors. The company president learns of
a chance to acquire a related business and wants the board to consider and
approve the deal. The president sends a notice to the directors of a special
meeting to happen in three days, but not to director D for whom the corporation
has no address. The meeting is attended by three directors (but not D), two of
them by Skype. The three at the meeting all approve the acquisition. Is their
action valid?
A.
least
B.
third
C.
yes � notice was sufficient since it went to a majority of the board at
two days before the meeting date
yes � the quorum at a special meeting, unlike a regular meeting, is oneof the board
no � notice must be sent to each director, and the failure to send a
notice to D invalidates the meeting
D.
no � a board meeting must be in person, unless the articles or bylaws
specifically allow electronic or telephonic presence of directors at meetings
69.
GHI Corporation has a six-person board. At a regular board meeting, only
two directors can attend. They then call directors Alice and Bob and put them
on a conference call. The four talk about the corporation buying Blackacre and
then agree to a resolution for GHI to buy Blackacre from Third Party.
A.
the purchase is
B.
the purchase is
calls
C.
the purchase is
meeting
D.
the purchase is
shareholder approval
authorized since four of six is a board majority
authorized, assuming the GHI bylaws permit conference
not authorized, since there was no quorum at the board
not authorized, since real estate transactions require
70.
A person who purports to act on behalf of a corporation (a promoter) and
who enters into a contract with a third party when the corporation does not yet
exist ...
A.
is personally liable on the contract, regardless of the promoter's
knowledge of the incorporation defect
B.
is not personally liable, provided the promoter incorporates the business
within 90 days after the contract was entered into
C.
is personally liable on the contract, provided the promoter knew the
corporation did not yet exist
D.
is not personally liable, provided the third party believed it was
dealing with a corporation, regardless of the promoter's knowledge
Under Article 9 of the UCC, accounts receivable are considered what kind
of collateral?
71
Jen's father, who wishes he lived in the 18th century, orally promises to
pay his daughter Jen's boyfriend, Ryan, $10,000 dollars on the day Ryan marries
Jen. Which of the following is true?
A.
B.
C.
case.
D.
This is called a dowry and it is not enforceable in this case.
This is called a dowry and it is enforceable in this case.
This is called a prenuptial agreement and it is not enforceable in this
72.
A.
B.
C.
D.
E.
Which of the following is not required with regard to a valid deed?
A description of what property is being transferred
Signature of grantor
Notarization
Delivered during grantor�s life
All of the above are required
73.
This is called a prenuptial agreement and it is enforceable in this case.
Which of the following is/are true with regard to Equitable remedies?
A.
Allowed only when money damages alone are inadequate
B.
Judge decides the facts
C.
Quasi-contract, Injunction, liquidated damages, and punitive damages are
examples
D.
All of the above
E.
Both A & B
74.
Which of the following is/are sufficient in order to establish Federal
subject matter jurisdiction?
A.
B.
Federal Question
Diversity of Citizenship
C.
D.
E.
75.
Minimum contacts of the defendant with the state in which the court sits
All of the above
Only A and B
Which of the following is an enforceable contract?
A.
B.
C.
D.
E.
A contract to commit burglary.
A contract to defame a political opponent of the person who hired you.
A contract to gamble with the neighborhood bookie.
B and C
None of the above are enforceable
76.
Which of the following is NOT considered evidence?
A.
B.
C.
D.
E.
Documents admitted for consideration by the jury
Testimony of plaintiff�s witnesses
Objects admitted for consideration by the jury
Testimony of defendant�s witnesses
All of the above are considered evidence
77.
Which of the following terms refers to �personal property permanently
attached to real estate�.
A.
B.
C.
D.
E.
Fixtures.
Collateral.
Quasi-tangibles.
Proceeds.
Execution.
78.
A contract that is so unfair that it �shocks the conscience� or is �devoid
of conscience� is unenforceable under the doctrine of...
A.
B.
C.
D
E.
Fairness
Sufficiency
Adequacy
Unconscionability
Exculpation
79.
When a seller finances a real estate sale and will give the buyer a deed
on payment of the purchase price in full, the contract is called:
A.
B.
C.
D.
E.
An Installment Land Contract
A Due on Sale Contract
A Power of Sale provision
An Acceleration contract
None of the above
80.
If a repossession sale of collateral is completed, list the order in which
the proceeds are distributed:
A.
Debt, Second Priority lien, Debtor, Expenses of the sale.
B.
First Priority Lien holder expenses of sale, lower priority lien holders,
Debtor.
C.
Expenses of sale, First Priority Lien holder, lower priority lien holders,
Debtor.
D.
Expenses of Sale, First Priority lien holder, Debtor, Lower priority lien
holders.
E.
First Priority Lien holder, Expenses of Sale, Debtor, Second Priority Lien
holder.
81.
Mr. Acme rents Joe an apartment on the second floor of his apartment
building. One day, when Joe is going up to his apartment, Joe trips on badly
frayed carpet on a stair and hurts his ankle. Joe sues Mr. Acme for negligence.
What is the likely result?
A.
Mr. Acme wins because under the common law, landlords have no duty to
repair.
B.
Joe wins because Mr. Acme has a duty to use due care in maintaining common
areas.
C.
Mr. Acme wins, because under the modern rule, the tenants share in the
duty of maintaining common areas
D.
Joe wins because Mr. Acme violated the Explicit Guarantee of Occupation
E.
Mr. Acme wins because the area was in the tenant�s control
82.
Mr. Acme rents an apartment to John for 2 years. John stays in the
apartment for 6 months and then rents it out to Joe for the entire remainder of
the lease. This is an example of a(n):
A.
B.
C.
D.
E.
Lease
Sublease
Tenancy at Sufferance
Assignment
Subassignment
83.
Failure to perfect a security interest in a piece of collateral leads to
the following groups having priority over the unperfected party:
A.
B.
C.
D.
E.
Buyers in the ordinary course of business
Judgment lien holders.
Creditors with a perfected security interest.
All of the above
A and B only
84.
If one party substantially performs on a contract, which of the following
is true?
A.
Any breach he has committed was minor
B.
He has probably committed a material breach
C.
He cannot enforce any part of the contract against the other party because
he hasn�t fully performed.
D.
He will receive full payment for his performance under the terms of the
contract.
85.
Henderson Construction orally contracts to build a gas station for Shell
for a million dollars. Henderson says that it will probably take two years, but
that it is possible that construction will be done much faster. Which of the
following is true?
A.
B.
C.
D.
This
This
This
This
contract
contract
contract
contract
is not enforceable
is enforceable by either party
falls under the statute of frauds
lacks sufficient consideration
86.
Barry defaulted on a loan to Bank A. Barry put up the car he'd had for
about a year as collateral, and the bank perfected its security interest with
the Department of Revenue. Who gets paid prior to Bank A?
A.
B.
C.
D.
E.
87.
A.
The attorney who was hired to sell the car to pay Barry�s debt.
A creditor who had perfected a security interest in the car before Bank A.
Any creditor who was owed more than Bank A.
All of the above.
A & B
Article 9 of the UCC does govern which type of transactions?
Sale of Goods
B.
C.
D.
Commercial Paper
Security interests in real estate.
Security interests in intangibles.
88.
Jack grants Missouri Telephone Company the non-revocable right to put a
tower and some phone lines on his property, while Jack still owns the property.
This is called:
A.
B.
C.
D.
A profit
An easement
A license
A fee simple defeasible
89.
In the lawsuit, Hurt Guy vs. Bob's Bouncer Service, the jury is so mad
that Bob exceeded viciously injured Hurt Guy that it decides to assess extra
damages against Bob in order to punish the him. The extra damages are called
A.
B.
C.
D.
E.
Incidental damages
Punitive damages
Nominal damages
Liquidated damages
Consequential damages
90.
Mr. Acme is going out of business and selling his inventory as well
as his plant & equipment. Joe offers to buy �some of his refrigerators for
$10,000.� Mr. Acme accepts. Is there a contract?
A.
B.
C.
D.
No. Joe�s offer fails for lack of essential terms.
Yes, as long as the agreement was in writing
Yes. As long as the offer was between merchants
No. The firm offer rule would void Joe�s offer.
91.
John knows his kindhearted cousin, Ed, is worthless and will never amount
to anything. So John decides to grant Ed the right to exclusive possession of
John's country cabin until John's death, at which time all interest in the cabin
will transfer to John's heirs. This is called:
A.
B.
C.
D.
Life Estate
Fee simple defeasible
A Tenancy in Common
All of the above
92.
Joe and Frank enter into an agreement to fix prices on lobster tails for
three years. This contract is:
A.
B.
C.
D.
Enforceable
Voidable
Void
Competitive
93.
Bruce saves Cathy's cat. Afterward, Cathy is so thankful that she
promises Bruce she will give him $1,000. Later she decides she would rather
not. Bruce sues for the $1,000. What is the most likely result?
A.
Cathy
B.
Cathy
contract.
C.
Bruce
D.
Cathy
contract.
94.
wins because this was an illusory promise and there was no contract.
wins because Bruce had a pre-existing duty and there was no
wins because of promissory estoppel
wins because her promise was for past consideration and there was no
Money Damages are generally available in which kind of court?
A.
B.
C.
D.
Court of Equity
Appellate Court
Criminal Court
Court of Common Law
95.
Which option(s) are unavailable for the secured party to pursue when
debtor defaults?
A.
Threaten legal action even when not serious about it.
B.
Follow debtors onto their property, threaten the debtors with a knife,
then take the collateral.
C.
Auction off collateral to pay off debt and keep any extra over the amount
owed as profit.
D.
Take possession of collateral when debtor is not around.
96.
Bernadette inherits a country estate from her uncle. Then she finds out
that Weyerhauser Paper holds the right, whenever they choose, to enter the
estate, cut down all the trees, and sell them. Weyerhauser's interest in the
land is called:
A.
B.
C.
D.
An easement
An attachment
A fee simple defeasible
A profit
97.
Which of the following is NOT sexual harassment?
A.
B.
C.
D.
job
E.
Requests for sexual favors
Flirting in order to get a raise
Unwelcome sexual advances
Requiring your employees to 'step into your office' in order to keep their
98.
Which of the following is a form of sexual harassment?
A.
B.
C.
D.
E.
"Eyeing" someone up and down
Making offensive jokes
Intentionally rubbing on someone while walking
Sharing details about your sex life
All of the above
99.
A hostile work environment occurs when the harassing conduct is:
A.
B.
C.
D.
So severe that it could be considered as hostile
Conducted in a confined space
Considered to be hostile by an outside 3rd party
Conducted in a non-air conditioned space
100.
A type of sexual harassment is:
Saying "Good Morning" to the boss everyday
A.
None of these are correct
B.
Taking disciplinary action for excessive bathroom breaks
C.
Quid pro quo, or when your terms of employment are based on acceptance of
sexual favors
D.
Offering a promotion in exchange for better job performance
101.
It is illegal to discriminate in any aspect of employment, including:
A.
B.
C.
D.
Compensation
Promotion
Hiring and firing
All of the above
102. Are these characteristics "protected" (protected means cannot be used as a
basis for an employment decision such as hiring, promotion or termination) by
law in Montana and/or the United States? Color, National Origin and Race
A.
B.
C.
D.
Montana only
Federal only
Both
Neither
103.
What series of laws against discrimination was passed by government?
A.
B.
C.
D.
Civil Rights Act
Americans with disabilities Act
Immigration reform and control Act
All of the above
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