Question 1

What is a fiduciary duty?

Accepted Answer

A duty that is impos

Question 2

Until the 1980s, the duty of a professional in tort, was restricted to duties owed under the

Accepted Answer

A)  law and the ethical rules of the profession. 
B)  the ethical rules of the profession. 
C)  statute that governed that particular profession. 
D)  common law. 
E)  contract. 
A)  law and the ethical rules of the profession. 
B)  the ethical rules of the profession. 
C)  statute that governed that particular profession. 
D)  common law. 
E)  contract.

Question 3

Professional organizations are established by provincial statutes.

Accepted Answer

A) True 
 B)False

Question 4

A lawyer who enters into a contact to purchase his or her client's summer cottage, has

Accepted Answer

A)  a duty not to bargain with the client for the best price. 
B)  lot of time on his hands. 
C)  a conflict of interest. 
D)  committed a breach of contract. 
E)  lots of money. 
A)  a duty not to bargain with the client for the best price. 
B)  lot of time on his hands. 
C)  a conflict of interest. 
D)  committed a breach of contract. 
E)  lots of money.

Question 5

What is a conflict of interest?

Accepted Answer

A conflict of interest is a situation wh

Question 6

Which of the following is a professional body UNABLE to do in disciplining members of the profession?

Accepted Answer

A)  suspend members 
B)  reprimand members 
C)  conduct a hearing into a member's conduct. 
D)  expel them from the profession 
E)  conduct a criminal prosecution 
A)  suspend members 
B)  reprimand members 
C)  conduct a hearing into a member's conduct. 
D)  expel them from the profession 
E)  conduct a criminal prosecution

Question 7

Explain what is meant by the "duty to account" of a professional who has committed a breach of trust.

Accepted Answer

One of the duties of a professional and

Question 8

The common law duty of care of a professional is confined to relationships that arise in contracts with clients.

Accepted Answer

A) True 
 B)False

Question 9

What are professional bodies. Explain the role of professional bodies.

Accepted Answer

Professional organizations, are autonomo

Question 10

Which of the following is NOT true?

Accepted Answer

A)  The existence of a fiduciary duty means that a lawyer cannot, as a general rule, act for a purchaser and vendor at the same time. 
B)  A fiduciary duty exists when there is an existing contract between the professional and the client. 
C)  A fiduciary duty requires complete fidelity and loyalty to the other party. 
D)  The principles for determining damages for breach of contract and breach of fiduciary duty are not necessarily the same. 
E)  A fiduciary duty requires that a professional avoid situations that give rise to a conflict of interest. 
A)  The existence of a fiduciary duty means that a lawyer cannot, as a general rule, act for a purchaser and vendor at the same time. 
B)  A fiduciary duty exists when there is an existing contract between the professional and the client. 
C)  A fiduciary duty requires complete fidelity and loyalty to the other party. 
D)  The principles for determining damages for breach of contract and breach of fiduciary duty are not necessarily the same. 
E)  A fiduciary duty requires that a professional avoid situations that give rise to a conflict of interest.

Question 11

What is the difference between negligent misrepresentation and fraudulent misrepresentation?

Accepted Answer

Negligent misrepresentation is an incorr

Exam 4: Professional Liability

What is a fiduciary duty?

Until the 1980s, the duty of a professional in tort, was restricted to duties owed under the

Professional organizations are established by provincial statutes.

A lawyer who enters into a contact to purchase his or her client's summer cottage, has

What is a conflict of interest?

Which of the following is a professional body UNABLE to do in disciplining members of the profession?

Explain what is meant by the "duty to account" of a professional who has committed a breach of trust.

The common law duty of care of a professional is confined to relationships that arise in contracts with clients.

What are professional bodies. Explain the role of professional bodies.

Which of the following is NOT true?

What is the difference between negligent misrepresentation and fraudulent misrepresentation?

Law and Society

The Machinery of Justice

The Law of Torts

Formation of a Contract: Offer and Acceptance

Formation of a Contract: Consideration, and Intention to Create Legal Relations

Formation of a Contract: Capacity to Contract and Legality of Object

Grounds Upon Which a Contract May Be Impeached: Mistake

Grounds Upon Which a Contract May Be Impeached: Misrepresentation, Undue Influence, and Duress

The Requirement of Writing

The Interpretation of Contracts

Privity of Contract and the Assignment of Contractual Rights

The Discharge of Contracts

The Effect of Breach

Remedies for Breach

Sale of Goods

Leasing and Bailment

Insurance and Guarantee

Agency and Franchising

The Contract of Employment

Negotiable Instruments

Intellectual Property

Interests in Land and Their Transfer

Landlord and Tenant

Mortgages of Land and Real Estate Transactions

Sole Proprietorships and Partnerships

The Nature of a Corporation and Its Formation

The Internal Affairs of Corporations

The External Responsibilities of a Corporation

Secured Transactions

Creditors Rights

Government Regulation of Business

International Business Transactions

Electronic Commerce

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