Multiple Choice Questions for Business Law Test
1. A shareholder in a professional corporation can be liable for malpractice arising from the rendering of professional services. (Points : 2) True False
2. Jay tells Kim that he will buy her textbook from the last semester for $80. Kim agrees. Jay and Kim have (Points : 2) an express contract. an implied-in-fact contract. an implied-in-law contract. a quasi contract.
3. Barb allows Candy to enter Barb 's warehouse and take a DVD player. Charged with theft, Candy can successfully claim, as a defense, (Points : 2) consent. duress. entrapment. self-defense.
4. The U.S. Congress enacts a new federal statute that sets different standards for the liability of businesses selling defective products. This statute applies (Points : 2) only to matters not covered by state law. only to those states that adopt the statute. to all of the states. to none of the states.
5. Eastside Warehouse offers to sell a forklift to Forest Lumber Company, but it is stolen before Forest accepts. Eastside must obtain (Points : 2) a forklift for Forest, if Eastside 's insurance covers the loss. a forklift for Forest, if it wants one. nothing for Forest, because that would extend the time of the offer. nothing for Forest, because the theft terminated the offer.
6. Larceny relies on stealth while robbery relies on fear and force. (Points : 2) True False
7. Giant Lift Corporation purchases all of the assets of Heavy Hydraulics Corporation. With respect to Heavy Hydraulics’s liabilities, Giant Lift is (Points : 2) automatically responsible. not responsible under any circumstances. responsible if Heavy Hydraulics is a competitor of Giant Lift. responsible if the sale is actually a merger or consolidation.
8. Portia, a businessperson, is convicted of RICO offenses. Portia 's penalties may
2. Jay tells Kim that he will buy her textbook from the last semester for $80. Kim agrees. Jay and Kim have (Points : 2) an express contract. an implied-in-fact contract. an implied-in-law contract. a quasi contract.
3. Barb allows Candy to enter Barb 's warehouse and take a DVD player. Charged with theft, Candy can successfully claim, as a defense, (Points : 2) consent. duress. entrapment. self-defense.
4. The U.S. Congress enacts a new federal statute that sets different standards for the liability of businesses selling defective products. This statute applies (Points : 2) only to matters not covered by state law. only to those states that adopt the statute. to all of the states. to none of the states.
5. Eastside Warehouse offers to sell a forklift to Forest Lumber Company, but it is stolen before Forest accepts. Eastside must obtain (Points : 2) a forklift for Forest, if Eastside 's insurance covers the loss. a forklift for Forest, if it wants one. nothing for Forest, because that would extend the time of the offer. nothing for Forest, because the theft terminated the offer.
6. Larceny relies on stealth while robbery relies on fear and force. (Points : 2) True False
7. Giant Lift Corporation purchases all of the assets of Heavy Hydraulics Corporation. With respect to Heavy Hydraulics’s liabilities, Giant Lift is (Points : 2) automatically responsible. not responsible under any circumstances. responsible if Heavy Hydraulics is a competitor of Giant Lift. responsible if the sale is actually a merger or consolidation.
8. Portia, a businessperson, is convicted of RICO offenses. Portia 's penalties may