Question 1

Which of the following relationships generally fails to create an insurable interest?

Accepted Answer

A) Husband and wife 
B) Doctor and patient 
C) Debtor and creditor 
D) Chief executive officer and corporation 
A) Husband and wife 
B) Doctor and patient 
C) Debtor and creditor 
D) Chief executive officer and corporation

Question 2

A contract may violate public policy even if the agreement does not violate a statute.

Accepted Answer

A) True 
 B)False

Question 3

The Tavern's secret recipe for its pizza sauce would be considered

Accepted Answer

A) a trade secret,and an employment non-compete clause would be enforceable to protect it. 
B) a trade secret,but an employment non-compete clause would NOT be enforceable to protect it. 
C) just a secret recipe and not something the Tavern could protect in a non-compete clause. 
D) an exculpatory clause and not enforceable. 
A) a trade secret,and an employment non-compete clause would be enforceable to protect it. 
B) a trade secret,but an employment non-compete clause would NOT be enforceable to protect it. 
C) just a secret recipe and not something the Tavern could protect in a non-compete clause. 
D) an exculpatory clause and not enforceable.

Question 4

A national bank based in New York issues credit cards to customers in all 50 states.What interest rate can the bank charge customers?

Accepted Answer

A) the interest rate of New York only 
B) the interest rate of New York or that of the customer's state,whichever is higher 
C) the interest rate of the customer's state only 
D) the interest rate of New York or that of the customer's state,whichever is lower 
A) the interest rate of New York only 
B) the interest rate of New York or that of the customer's state,whichever is higher 
C) the interest rate of the customer's state only 
D) the interest rate of New York or that of the customer's state,whichever is lower

Question 5

In bailment cases,exculpatory clauses

Accepted Answer

A) are very rarely used. 
B) are somewhat more likely to be enforced than in other types of cases. 
C) ordinarily involve an attempt to limit liability for damage to persons rather than property. 
D) are not enforced because any harm is to property and not persons. 
A) are very rarely used. 
B) are somewhat more likely to be enforced than in other types of cases. 
C) ordinarily involve an attempt to limit liability for damage to persons rather than property. 
D) are not enforced because any harm is to property and not persons.

Exam 14: Legality

Which of the following relationships generally fails to create an insurable interest?

A contract may violate public policy even if the agreement does not violate a statute.

The Tavern's secret recipe for its pizza sauce would be considered

A national bank based in New York issues credit cards to customers in all 50 states.What interest rate can the bank charge customers?

In bailment cases,exculpatory clauses

Introduction to Law

Ethics and Corporate Social Responsibility

International Law

Common Law, Statutory Law, and Administrative Law

Constitutional Law

Dispute Resolution

Crime

Intentional Torts and Business Torts

Negligence, Strict Liability, and Product Liability

Privacy and Internet Law

Introduction to Contracts

Agreement: Offers and Acceptances

Consideration

Voidable Contracts: Capacity and Consent

Written Contracts

Third Parties

Contract Termination

Remedies

Practical Contracts

Introduction to Sales

Ownership, Risk and Warranties

Performance and Remedies

Secured Transactions

Creating a Negotiable Instrument

Liability for Negotiable Instruments

Accountants Liability

Agency Law

Employment and Labor Law

Employment Discrimination

Starting a Business: Llcs and Other Options

Partnerships

Life and Death of a Corporation

Management Duties

Shareholder Rights

Bankruptcy

Securities Regulation

Antitrust

Consumer Protection

Environmental Law

Intellectual Property

Real Property and Landlord Tenant Law

Personal Property and Bailment

Planning for the Future: Wills, Trusts and Insurance

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