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1-50 OF TEST 1

To have standing to sue, a party must have been harmed or have been threatened with harm by the action about which he or she complains.

T

A corporation whose shares are held by relatively few persons is a partnership.

F

A power of attorney can be given only to an actual attorney

F

False imprisonment occurs when a person is restrained by another intentionally and without justification

T

Contract law governs franchise relationships

T

To be valid, a security agreement must contain a description of the collateral.

T

An agency relationship can be formed without consideration

T

Estray statutes determine ownership rights in fungible goods that have "strayed."

F

Different standards for air quality apply to sources of pollution in clean areas and sources in polluted areas.

T

Only a foreseeable intervening event can break the connection between a wrongful act and an injury to another.

F

When two conflicting security interests are unperfected, the first to attach has priority

T

Consent is a defense to an allegation of assault, but not battery

F

An advertisement that contains an endorsement by a celebrity may be deemed deceptive if the celebrity does not actually use the product.

T

An offer must be practical to be effective

F

A person acquires title to fungible goods by mixing them.

F

Minimum contacts with a jurisdiction are never enough to support jurisdiction over a nonresident defendant

F

Normally, a court of law will not question the adequacy of consideration

T

Any lawful contract can form the potential basis for an action based on wrongful interference with a contractual relationship.

T

A board of directors cannot conduct business outside a formal meeting.

F

Trademark dilution requires proof that consumers are likely to be confused by the unauthorized use of the mark.

F

The equal dignity rule does not apply to a corporate officer who, in an ordinary business situation, acts on behalf of his or her firm.

T

An independent contractor is an employer who controls his or her agent's performance.

F

Corporate officers may be subject to criminal penalties for violations of the Clean Air Act

T

A close corporation cannot operate as an S corporation.

T

A state court can exercise jurisdiction over any property within the boundaries of the state regardless of the property owner's location.

T

It is possible to copyright an idea.

F

For action to be taken during a shareholders' meeting, a forum must be present.

F

Unless otherwise agreed, the result of an online dispute resolution proceeding may not be appealed to a court.

F

Federal law prohibits vague generalities and obvious exaggerations in advertising.

F

A disclosed principal is not liable to a third party for contracts made by the agent acting outside the scope of his or her authority.

T

A trademark must be registered to support a trademark infringement action

F

An assumption of risk defense does not require that a risk be voluntarily assumed.

F

Insurance is classified according to the amount of the payment on a claim.

F

Before a discharge is granted, a debtor can transfer property or make a payment in preference to one creditor over another.

F

It is generally illegal to send an ad via fax without the recipient's permission.

T

A court's direction to a party to do or to refrain from doing a particular act is a rescission

F

To be enforceable, a memorandum evidencing an oral contract that would otherwise be unenforceable must include all essential terms.

T

No state has adopted the Uniform Commercial Code in its entirety.

F

A fiduciary relationship involves trust and confidence.

T

and includes the artificial structures attached to it

T

An attachment is a court-ordered seizure and taking into custody of property prior to the securing of a judgment for a past-due debt.

T

To vote their shares, shareholders must attend a meeting and vote in person

F

Only a limited partnership's limited partners have a fiduciary obligation to the other partners.

F

Even after a tenant sublets leased premises, the tenant may be obligated to pay rent.

T

For purposes of establishing negligence, causation in fact exists if an injury would have occurred even without the defendant's act.

F

"Piercing the corporate veil" means revealing to shareholders the internal rules of corporate management.

F

Ethics is the branch of philosophy that focuses on what constitutes right and wrong behavior.

T

Any judgment is enforceable

F

A check, like other negotiable instruments, is a formal contract

T

A party's oral agreement to pay another's debt is never enforceable

F

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