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Exam 21 :test Planning Table for Bonus Exam A

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Question 101

Multiple Choice

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Cajun Cookin' sits on a large landscaped lot.Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take care of the landscape.They pay $200 per month for this service.After two weeks had gone by with no service,Brian called the company only to find out that the owner and the crew had decided to take a vacation and would not be back to do the landscaping for another two weeks.Lovely Landscapes:

A) has discharged its obligation to Brian.
B) is liable for specific performance.
C) will likely have to pay Brian damages if Brian decides to sue them.
D) will not likely have to pay Brian damages if Brian decides to sue them.

E) C) and D)
F) A) and C)

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Question 102

True/False

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When a payee signs the back of a check the payee's signature is referred to as an endorsement.

A) True
B) False

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Question 103

True/False

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Tort law includes product liability cases.

The Federal Trade Commission issues and interprets rules and regulations regarding business activities.The Federal Trade Commission is a governmental administrative agency.

Implied warranties are guarantees legally imposed on the seller.

Which of the following holds a company liable for negligence in the production,design,sale,or use of products the firm markets?

A company has to be insolvent before it can file for Chapter 11 bankruptcy.

Without the permission of the inventor,Cheatum Automobile Manufacturing copied the engine design of an innovative competitor.Cheatum is guilty of:

One of the reasons you bought your mom a name-brand mixer for Mother's Day was that it came with a full warranty.This means that:

The Constitution gives the judiciary the power to establish bankruptcy laws.

Statutory law refers to written legislation.

An interlocking directorate occurs when a contract between a retailer and a wholesaler requires misleading advertising.

A "tying contract" requires a buyer not to purchase goods from a competitor as a condition of buying product from the seller.

Deregulation has always benefited consumers.

________ is the legal process by which a person,business,or government entity unable to meet financial obligations is relieved of those debts.

The offer of a 3-year or 36,000-mile warranty by a car dealer on a new vehicle is an example of an implied warranty.

The Sherman Antitrust Act was designed to prevent large businesses from stifling the competition of smaller or newer firms.

The Robinson-Patman Act applies only to business-to-business transactions.

The Environmental Protection Agency is an example of an) :

Which of the following industries has been deregulated?