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Due Mar 13 at
8:59pm Points 100 Questions 25 Available after Mar
8 at 9pm Time Limit 90
Minutes
Contact Us:
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Instructions
This exam contains 25 questions. Questions on
this exam will be presented one at a time.
Time limit: There is a 90 minute limit and at the end of the 90 minutes, the exam
will close and be automatically submitted for grading. You will get a
notification pop-up approximately 10
seconds before time expires. If you leave the exam for any reason, the timer
will continue and the exam will automatically submit when time is up. If you
lose your internet connection, you may reconnect and return to the exam where
you left off as long as time has not expired. If you encounter technical
difficulties, please contact your instructor.
Grading: Some types of exam questions (short answer, essay) are not automatically
graded and will not be reflected immediately in your Grades area. You will see
scores for multiple choice questions right away but check back after your
instructor has had a chance to grade the rest of the questions to see your
final score. Please contact your instructor if you have any questions.
Attempt History
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LATEST
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Attempt 1
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41 minutes
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88 out of 100 *
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Score for this quiz: 88 out
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Submitted Mar 9 at 7:39pm
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This attempt took 41 minutes.
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Question 1
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4 / 4 pts
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A seller must use words such as
"warrant" to make an xpress
warranty.
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Question 2
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study
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Olga, a salesperson for Pre-owned Cars &
Trucks, Inc., tells Quincy, "This is the best car I've ever seen."
This statement is
an express warr nty.
an implied warranty.
a warranty of title.
puffing.
Question 3 4 / 4 pts
Over the course of a year,
Real Deal Corporation sells appliances to customers to whom it extends credit.
Real Deal orders the appliances from Superior Appliance Company's warehouse,
from which the items are shipped via common carrier to Real Deal's customers.
Article 2 of the UCC governs
all of the parties' sales of the goods.
Real Deal's extension of credit.
Superior's storage of the goods.
the common carrier's delivery of the goods.
Question 4 4 / 4 pts
In a dispute over a sale
involving a bicycle, Dain argues that as to this deal Elle's Hobby Shop, where
Dain bought the bike, is a merchant. A court may determine whether Elle's is a
merchant by assessing whether
it has sold any bikes within the last year.
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it holds itself out by occupation as having
knowledge or skill unique to the bike in the transaction.
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its owner enjoys biking.
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it subscribes to Bike, a biweekly trade magazine.
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Question 5
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4 / 4 pts
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Generally, the funds represented by a
deposited local check must be available for withdrawal the same business day.
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True
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CourseHero
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False
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study
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Question 6
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4 / 4 pts
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Clyde issues a check p y ble to Discount Mart.
Elle, Discount's cashier, forges the store's indorsement and deposits the check
in her bank account. Clyde's bank, First State Bank, pays the check. Clyde can
recover from
Elle, but not Fir t State Bank.
First State Bank, which cannot recover from
Elle.
First State Bank, which can recover from Elle.
no one.
A stale check is one that has been outstanding
for longer than one month.
True
False
Question 8 Not yet graded / 4 pts
Sara needs $1,513 to buy
textbooks and other school supplies. Tomas agrees to loan Sara $1,513,
accepting as collateral Tomas's car. They put their agreement in writing and
sign it. Sara keeps possession of the car. Does Tomas have an enforceable
security interest? How can Tomas let other creditors know of his interest in
the car?
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Your Answer:
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First, I would think that the car would be in
the interest of Sara since Tomas loaned her the money. If that's the case,
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Tomas does have an
enforceable security interest because he is the sole lender to Sara. He was
able to loan her all of the money. He can go about informing other creditors in
his enforceable interest in the c r by the written agreement he established
with Sara. It must be detailed in that it spells out any confusion over the
coll ter l. Also, Tomas must ensure that his interest is perfected so that no
other lender can have an enforceable security interest on the same pie e
of collateral property. He can report the lien
against the collateral to the credit bureaus
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Question
9
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4 / 4 pts
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Elias repays his debt, incurred to buy
consumer good , to Fidelity Bank and imm diat ly files a written request for
a
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termination statement. Fidelity
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must comply within one month of receipt of the
letter.
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must comply within twenty days of receipt of
the letter.
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must refund $513 to Elias.
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CourseHero
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need not comply.
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Question
10
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4 / 4 pts
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the amount of the claim.
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Idle Investments, Inc., nd H rbor Bank are
secured parties with security interests in property owned by GR8 Manufacturing
Corporation. Priority between these security interests is generally determined
by
the custom in the trade.
the time of perfection.
the time the security agreement was signed.
Certain debts are not dischargeable in
bankruptcy.
True
False
Question 12 4 / 4 pts
The basic duty of a trustee is to collect and
reduce to cash the property in the bankruptcy estate that is not exempt.
True
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False
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was .
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IncorrectQuestion 13
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0 / 4 pts
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CourseHero
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Federal law governs
garnishment actions.
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True
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Question
14
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study
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Jen makes a gift of a check to Kilroy who
takes it in good faith and without notice of any claim, defense, or defect.
With
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respect to this check, Kilroy is
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This
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an extraordinary holder in due course.
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an ord nary check passer.
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an ordinary holder.
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an ordinary
older in due course.
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Question
15
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4 / 4 pts
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Rodeo Ranch's agent Slim is
authorized to draw checks on Rodeo Ranch's account in Town Bank. Upper Range
Corporation is a Rodeo Ranch supplier. Slim writes a check "pay to the
order of Upper Range [signed] Slim," indorses the check in Upper Range's
name, and deposits it in his account in Verity Bank. If Verity Bank collects
payment, the ultimate party most likely to suffer the loss is
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Opal asks Paolo, who does not understand English, to sign what Opal
says is an application to open a bank account. In fact, the
"application" is a note. If sued on the note by an HDC, Paolo's
best defense would be
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extreme duress.
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no one.
Rodeo Ranch.
Town Bank.
Upper Range.
Question 16 4 / 4 pts
fraud in the execution.
fraud in the inducement.
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mistake.
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Question
17
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4 / 4 pts
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An employer is not liable for the sexual
harassment of an empl yee by the employ
's supervisor.
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True
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Question
18
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4 / 4 pts
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Eduardo
an employee of Free-Flo Plumbing Corporation. With respect to the
workplace, under federal health and safety
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statutes, Free-Flo has
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Thisageneralshareddutytokeepitsafeandtomeet specific standards. no
general duty to keep it fe but must meet specific standards.
no general duty to keep it safe or to meet
specific standards.
only a general duty to keep it safe.
Question 19 4 / 4 pts
Mold & Dye Corporation
is a private employer involved in a Title VII employment discrimination suit.
Punitive damages may be recovered against Mold & Dye only if the employer
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Pizza & Cookies, LLC, is a limited liability company. Among its
members, a dispute arises that the operating agreement and the state LLC
statute do not cover. The dispute is governed by
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acted with malice or reckless indifference.
can easily afford to pay the amount.
has one hundred or more employees.
none of the choices.
Question 20 4 / 4 pts
no law.
the federal Uniform LLC Law.
the principles of partnership law.
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the state corporation statute.
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Question
21
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Most limited liability
company statutes have no provisi
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Question
22
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4 / 4 pts
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study
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A sharing of profits from the ownership of
property creates a presumption that a partnership exists.
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Question
23
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4 / 4 pts
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Fact
Pattern 23-1
Desi starts up eSites, an
Internet service, and leases office space in a building owned by Fred. The
lease requires Desi to pay Fred a base rental of $1,250, plus 10 percent of
eSites' profits, each month. The term is two years. Desi hires Gwen to work at
eSites' tech support desk at an hourly wage of $12.50, plus a commission of 10
percent of the profits. The term is also two years.
Refer to Fact Pattern 23-1. Desi and Fred are
not partners, because the lease includes a
"base rental."
not partners, because the rent includes only 10
percent of the profits.
partners in a partnership for two years.
Question 24 4 / 4 pts
A short-form merger is the legal combination of
two or more corporations online.
True
False
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IncorrectQuestion 25
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Once a dissenting shareholder elects appraisal
rights, the shareholder los his or
her shareholder status.
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Quiz Score: 88 out of 100
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