Business Law 1 Final Exam

QUESTION 1

1. Criminal law as opposed to civil law is concerned most with:

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   the prosecution of private individuals by other private individuals.

    

   the prosecution of public officials by private individuals.

    

   the relief available when a person’s rights are violated.

    

    wrongs committed against the public as a whole.

6 points   

QUESTION 2

1. Which of the following is considered tangible personal property?

    

   A car

    

   A copyright on a book

    

   A house attached to property

    

   A plot of land

6 points   

QUESTION 3

1.  The covenant of quiet enjoyment requires a landlord to leave the tenant undisturbed in the tenants enjoyment of the property.

    True

    False

6 points   

QUESTION 4

1. Which of the following is copyrightable?

    

   The idea of a dark and stormy night in a horror novel. 

    

   An invention for the light bulb.

    

   The television show The Sopranos

    

   The trademark word Aspirin.

6 points   

QUESTION 5

1. Which of the following is not a type of trademark that determines partially how strong a mark is?

    

   Descriptive

    

   Suggestive

    

   Arbitrary

    

   Invented

6 points   

QUESTION 6

1. What are the elements of a contract?

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7 points   

QUESTION 7

1. In which of the following situations is revocation of an offer effective:

    

   Alice has a unilateral contract. The offer is to paint her house for $50.  Bob begins to paint the house before he finishes Alice tries to revoke the contract

    

   Bob offers to sell a car to Bill. He promises to keep the offer open for two weeks. After one week, he tells Bill that the offer is revoked.

    

   Same facts as above except this time Bill pays Bob $10 to keep the offer open.

7 points   

QUESTION 8

1. Which of the following is not a type of business entity?

    

   A sole proprietorship

    

   A corporation

    

   A collaboration

    

   A partnership

7 points   

QUESTION 9

1. What are the two main types of fiduciary duties owed by partners to one another and the partnership?

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7 points   

QUESTION 10

1. Herb, a computer programmer for Inventory Control Corporation, is arrested in his employer’s parking lot on suspicion of larceny. Herb must be informed of his right to

    

   a trial by jury.

    

   punishment.

    

   question witnesses.

    

   remain silent.

7 points   

QUESTION 11

1. Patty creates a formal will designating how she would like her estate distributed after she dies. Patty is a(n)

    

   testator.

    

   heir.

    

   executor.

    

   administrator.

7 points   

QUESTION 12

1. Johnny is a minor. As a minor, Boyd has the capacity to enter into

    

   an invalid contract.

    

   an unavoidable contract.

    

   a valid contract that may be disaffirmed.

    

   no contract.

7 points   

QUESTION 13

1. When determining whether procedural unconscionability exists, what factor with the court not take into consideration:

    

   The relative bargaining power of the parties.

    

   The age of the parties.

    

   Whether the terms of the agreement are unfair.

    

   The experience of the parties.

7 points   

QUESTION 14

1. Unilateral mistake (where the party not laboring under the mistake is not aware the other party is mistake) is the basis for declaring a contract invalid. 

    True

    False

7 points   

QUESTION 15

1. Which right is not found in the sixth amdendment?

    

   The right to confront witnesses

    

   Right to an attorney

    

   Due process

    

   A speedy trial.

7 points   

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