BUL_3130_Exam_III - 1. If you are an undisclosed agent...

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1. If you are an undisclosed agent (nondisclosed or exclusive agency) which is correct: a. You can disclose the fact that you are an agent b. You can disclose the identity of the principal c. If you identified yourself as an agent, you are bound by law to identify the principal d. None of the above 2. Bylaws of a corporation are the basic rules and regulations, like a policy and procedure manual guiding every day operations, whereas, Articles of Incorporation represent the formal information which created the existence of the corporation. a. True b. False 3. When you have been injured by a corporation, or are merely interested in knowing something about the corporation, regardless of what State is the birthing state of the corporation, you can call which official to find out about the corporation: a. Sec. of the Treasury b. Sec. of State c. Sec. of the Interior d. Sec. of the Exterior 4. It is universally known that partners in a general partnership can be equal or unequal as to initial investment in the partnership; amount of profit each earns; amount of losses each shares; amount of responsibility each assumes; and, the amount of time required of each during each week in operating the partnership. a. True b. False 5. Workers Compensation Laws offer an exclusive remedy for a worker injured on the job, exclusive in that the worker cannot sue the employer for the injuries. a. True b. False 6. If you create a business that has mass appeal, in order to capitalize on your genius, you can create which of the following: a. Trust
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b. Monopoly c. Alien corporation d. Franchise 7. The Convention on Contracts for the International Sale of Goods was adopted by the United Nations and it is similar to the UCC adopted by every State in the United States, and because it is a treaty adopted by Congress it prevails over the UCC. a. True b. False 8. When an owner of certain types of intellectual property agrees to transfer limited rights to it, the owner can be protected in the limited transfer by creating which legal document: a. Contract b. License c. Dogma d. Negligence e. Franchise 9. Electronic Signature in Global and national Commerce Act gives an e-signature the same legal force and effect as a pen-inscribed signature on paper. a. True b. False 10. Which bankruptcy chapter applies equally to an individual, a married couple, a business and a corporation and which is known as a fresh start where all bills owed are no longer owed to any creditor after the bankruptcy is complete: a. 5 b. 7 c. 9 d. 46 11. Uniform Commercial Code at Article Two for the sale of goods between merchants: a. Tightened traditional contract rules in an effort to offer greater protection to contracting parties
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b. Relaxed traditional contract rules only between merchants so commerce can be more easily expedited c. Had no impact whatsoever upon forming and executing a traditional contract 12. The Sherman Act (1890) made certain restraints of trade and monopolistic acts illegal, and this Act is still used to enforce such laws today. a.
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This note was uploaded on 10/07/2011 for the course BUL 3031 taught by Professor Lako during the Fall '10 term at University of Central Florida.

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BUL_3130_Exam_III - 1. If you are an undisclosed agent...

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