Instructions:

• Answer 50 questions in 15 minutes.
• If you are not ready to take this test, you can study here.
• Match each statement with the correct term.
• Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.

1. Employers must provide employees with up to 12 weeks of unpaid leave for a serious health condition - the birth of a child - adoption or placement with the employee of a child in foster care - or the care of a spouse - child - or parent with a seriou
Expectation damages (also known as the 'benefit of the bargain')
Pension Benefit Guaranty Corporation (PBGC)
The Family and Medical Leave Act
Bilateral contract


2. Government acts that create an agency - along with establishing it's goals - powers - and the authority to make rules and regulations regarding a specified issue.
Enabling acts
Trademark
Consequential damages
Federal Trade Commission


3. These contracts do not actually prohibit assignment - but actually prohibits delegation. Assignments will be valid unless the contract specifically states that assignment are void - which in such a case - any assignment will be treated as a breach of
Mistake
Foreign Corrupt Practices Act
Process of appealing a case through the three levels of court
Contracts that prohibit assignment


4. The principle used by courts when both parties are equally guilty of illegality - or when the party seeking restitution is more at fault than the other party

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5. When an employer requests a sexual favor in exchange for providing an employee with some employment benefit.

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6. A division of the FTC that seeks to educate consumers regarding their rights and assist the FTC with the enforcement of consumer protection laws.
Fair Labor Standards Act (FLSA)
Economic waste
Bureau of Consumer Protection
Commencing a lawsuit


7. It is when a jury cannot reach a consensus. As a result - there must be a new trial with a different jury.
Bilateral investment treaties
Product liability
'clear and present'
Hung jury


8. In order for a contract to be enforceable - the terms of the contract must be definite and certain. In order for a contract to be 'definite and certain' - it must contain all the essential terms (names of parties - prince - subject matter - and time

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9. An exchange (something bought and sold - with both the good and the money changing hands) immediately executed
Restitution and rescission
Public company
Process of assignment
Executed exchange


10. When both parties are mistaken - the mistake concerns a basic assumption on which the contract was made that has material impact on performance - and the party seeking to avoid performance has not assumed the risk of the mistake. Contract is voidable
Assignee's rights
Priority of secured transactions
Mutual mistake
Social Security Act


11. It is the power to decide the type of case at issue. Federal courts do not have broad subject matter jurisdiction because they can only hear particular types of cases. Therefore - their subject matter jurisdiction results from either diversity jurisd
Subject matter jurisdiction
8-K
Chapter 7 of the Code
Inadequate warning defect`


12. The standards designed to reduce the presence of pollutants int eh air to levels that are consistent with promoting good health and preserving the environment. States must ensure that they are in compliance with such standards
Securities Exchange Act of 1934
National Ambient Air Quality Standards
Federal question jurisdiction
Condition subsequent


13. Impossibility - impracticability - or frustration of purpose. The event that caused the change in circumstances must be proved to have been unforeseen.
Export Administration Regulations (EAR)
Bilateral treaties
National Environmental Policy Act (NEPA)
Changed circumstances that allow a party to be excused from performance under the contract


14. Courts that do no have broad subject matter jurisdiction because they can only hear particular types of cases. For example - Federal courts have limited jurisdiction and do not have broad subject matter jurisdiction.
Comprehensive Environmental Response - Compensation - and Liability Act (CERCLA)
Production quotas
Limited jurisdiction
Retraction


15. Rules of ethics that govern the practice of law and the conduct of lawyers
Reliance
Legal ethics
Pregnancy Discrimination ACt
National Labor Relations Board


16. The defendant's response (admit or deny the allegations within the complaint) to a complaint. This can confirm affirmative defenses or counterclaims.
Expectation damages (also known as the 'benefit of the bargain')
Regulation A of the Securities Act
Companies that are subject to the exchange act (Reporting companies)
Answer


17. It is the opportunity for each party to present their arguments to the appellate court. However - it is not always allowed.
Misappropriation theory
Securities Exchange Act of 1934
Oral argument
Gift


18. A trust formed to dominate an industry
Deontological
Executed exchange
Monopoly
'Ffour corners'


19. He can raise any defense against the assignee that she would have been able to raise against the assignor. This is the right to offset the assignee's claim - and thus the assignee cannot be held directly liable to the assignor for the improper action

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20. Duties that involve some personal service or skill or that would materially change the obligor's expectancy under the contract may not be delegated without the obligee's consent. When a contract prohibit assignment - then it also cannot be delegated.
Security interest
Motion to strike
Misstatement or omission
Duties that cannot be delegated


21. Place of permanent residence
Remand
Domicile
Clayton Act
Chapter 13 of the Code


22. Potential responsibility for payment of damages or other court - ordered enforcement as a result of a ruling in a lawsuit. Civil liability is not the same as criminal liability - which means 'open to punishment for a crime.'
Process of assignment
Partial or trivial breach
Tie-in agreement
Civil liability


23. When a judgement becomes permanent (which occurs when an appellant appeal is denied or the time to bring an appeal has expired). It prevents the parties from re-litigating the same action.
Group boycotts
Misrepresentation
Res judicata
Pension Benefit Guaranty Corporation (PBGC)


24. Agreements that grant an entity an exclusive right to manufacture a product within a given area. The Clayton Act prohibits such agreements. (vertical agreement)
Regulation A of the Securities Act
Secured transaction
Bona fide occupational qualification
Exclusive distributor agreements


25. Provides specific (3) categories for exemption: Rule 504 - 505 - 506
Statutory Seller
Direct damages
Res judicata
Regulation D of the Securities Act


26. When all collections by creditors must stop. This occurs when a bankruptcy proceeding is initiated.
Federal Environmental Pesticide Control Act
Automatic stay
Rule of reason
'Blue sky' laws


27. In an effort to create harmony between state laws - a group of experts create a set of laws which each state chooses to follow in whole or in part. (Ex. Uniform Commercial Code)
Hung jury
Consequentialism
Offer
Uniform Laws


28. It represents a request for the court to take some action. A motion can be filed by a defendant.
Criminal Law
Motion
Ordinances
Occupational Safety and Health Act


29. A uniform law that provides legislation for various aspects of commercial law. It has been accepted by all states except Louisiana.

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30. When a written contract represents a full - final - and complete record of the parties' agreement. In this case - parol evidence in inadmissible.
Judicial review
Taking a contract 'out of the Statute of Frauds'
Termination of an invitation to make an offer
Complete or total integration


31. This when the evidence favoring the plaintiff's allegations is stronger than the evidence presented against her position. In a civil case - the jury must decide that the plaintiff proved her case by 'preponderance of evidence'.
General jurisdiction
Preponderance of evidence
Pretexting
Export Administration Regulations (EAR)


32. A contract entered into by a person who is intoxicated (by alcohol or drugs) is also voidable by the intoxicated person. This can be done by proving that he did not understand the nature and significance of her actions - or the other party had reason
Trademark
Procedural unconscionability
Donee beneficiary
Contract with intoxicated persons


33. When the courts' power to hear cases arising under the Constitution - federal laws - or U.S. treatises. Federal question jurisdiction is exclusive.
10-Q
Section 701 of the Securities Act
Federal question jurisdiction
The Family and Medical Leave Act


34. These are approximate damages to show the necessary amount to compensate the party if the breach had not occurred and the contract has been fully performed. Expectation damages are comprise of direct and consequential damages.

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35. An order from the court to perform the contract pursuant of its terms. This is only does when the damage remedy is inadequate and the equitable need for such performance outweighs the burden of supervision and harm to the defendant.
Model Rules of Professional Conduct
Specific performance
'Blue sky' laws
Collective bargaining


36. An interest in property or collateral granted in order to ensure payment of a debt or obligation
Equal Pay Act (EPA)
Security interest
Petit jury
Duty to mitigate


37. Prohibits abusive and unfair debt collection practices - and imposes penalties on debt collector who engage in such practices
Fair Debt Collection Act
Priority of secured transactions
Deliberation
Effect of delegation


38. A small sign of regard. If something can be construed as token consideration because it lacks any value - then courts will find it legally insufficient.
Employment discrimination
Chapter 11 of the Code
Token consideration
Pleadings


39. When a product is incorrectly manufactured that is unreasonably dangerous to consumers. To prove that 'unreasonably dangerous' - the show that an ordinary consumer would see it that way (consumer expectation test).
Third party beneficiary
Gift
Manufacturing defect
Commercial speech


40. The promisor's failure to perform in accordance with the terms of the contract
Counterclaims
Secured transaction
Breach
Lien


41. The obligee who officially assigned over his rights
Assignor
Partial or trivial breach
Creditor beneficiary
Expectation damages (also known as the 'benefit of the bargain')


42. Offering made to purchase all or a portion of the shares of a specific company
Assignee
Tender offers
Third party beneficiary
Performance


43. A company becomes a 'public company' when it issues its securities pursuant to this registration process.
Summons
Beneficiary's rights
Vesting of beneficiary's rights
Public company


44. It is a promise stated in words - either oral or written.
Termination of an invitation to make an offer
Excuse of condition
Express contract
Concurrent conflict of interests


45. Defenses that would prevent the plaintiff from holding the defendant liable
Affirmative defenses
Bilateral contract
Voluntarily proceeding
Defined benefit plans


46. Words or actions an individual may have intended - but did not communicate
Civil liability
Subjective intent
Discovery
Partial or trivial breach


47. Treaties between two nations addressing investment concerns
Judicial review
Enabling acts
Rule 147 of the Securities Act
Bilateral investment treaties


48. Speech regarding commercial or economic activities. Congress has a broad ability to regulate commercial speech. (However - government regulations based on content are subject to strict scrutiny - meaning that they will be sustained only if they are n
Federal question jurisdiction
Mental incapacity
Commercial speech
Strict liability


49. The obligation to establish his claims first
Exclusive dealing agreement
Burden of proof
Post-trial motions
'Infants' or 'minors'


50. Established by the Export Administration Act - it provides a framework for regulating exports and issuing licenses for exports subject to controls
Export Administration Regulations (EAR)
Regulation A of the Securities Act
Contract
Bureau of Customs and Border Protection