>> Business Law and Ethics
Question 1: The National Safety Agency is created to issue regulations to govern manufacturing. Similar to most other agencies, it may give the power to
Question 2: If one holds the entire bundle of rights to property, that person is the owner in
Question 3: A bailment refers to the delivery of real and personal property to another without the transfer of title.
Question 4: Sytes Business Corporation, a U.S. firm, and Comida Comercial, S.A., a Mexican firm, are parties to a contract that specifies the applicable law as that of "California". This is
Question 5: A conveyance of property for the life of a specified individual creates a fee simple absolute.
Question 6: Elin rents an apartment from Fresh Properties, Inc. A clause in the lease provides that Fresh is not responsible for interruptions in the apartment building's heating. A court would likely hold this clause to be:
Question 7: The principle of comity allows one country to give effect to the laws of another country if the laws of that country are consistent with its own laws.
Question 8: A leasehold estate is an estate held by a tenant under a lease.
Question 9: Risk management is the transfer of certain risks from one individual to an insurance company.
Question 10: Persons who share ownership rights simultaneously are concurrent owners.
Question 11: Secure Storage Corporation and Warehouse Equipment, Inc., are the parties to the bailment of a forklift. A bailment is different from a gift because:
Question 12: Standard Business Corporation may be engaging in conduct that violates the Sherman Act. To bring an action against the firm requires that its conduct have a significant impact on
Question 13: Elaine's will is admitted to probate, which is the process by which
Question 14: A codicil is a clause in a will affirming an administrator's testamentary capacity.
Question 15: Fancy Credit Corporation (FCC) believes that Susan may dispose of the assets that FCC expects to receive as payment for Susan's debt before FCC an obtain a judgment. FCC may ask a court to issue a writ of
Question 16: Congress may delegate some of its authority to administrative agencies.
Question 17: A person has an insurable interest in property if he or she would sustain a pecuniary loss from the property's destruction.
Question 18: Home equity refers to a portion of the home's value that is mortgaged.
Question 19: A combination that facilitates the creation of a monopoly is a restraint of trade.
Question 20: Sam is an insurance broker. Through Sam, Midstates Manufacturing Company applies for an insurance policy with National Insurers, Inc. In this transaction, Sam is an agent of: