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. A concept referring to laws and statutes aimed at addressing issues of concern to consumers.
Involuntary proceeding
Pretexting
Consumer protection
Design defect


2. A trust formed to dominate an industry
Restitution and rescission
Creditor beneficiary
Workers compensation laws
Monopoly


3. It imposes civil liability for material misrepresentations or omission in the registration statement. Reliance or causation does not need to be proven.
Section 10(b) and Rule 10b-5 of the Exchange Act
Section 11 of the Securities Act
Bilateral investment treaties
Precedent


4. It literally means 'new'. Here it means an entirely new interpretation of legal rules - without deference to the lower court's judgment.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


5. An annual report required by the Exchange Act
Levels of courts
Ordinances
Judgment n.o.v.
10-K


6. An anti-discrimination law that prohibits employment discrimination based on race - color - religion - sex - and national origin. This prohibits discrimination in hiring - firing - recruiting - and compensation. Prohibit sexual harassment or requesti
Injury-in-fact
Title VII of the Civil Rights Act of 1964
Strict liability
Production quotas


7. One party made a mistake - the mistake concerns a basic assumption on which the contract was made that has a material impact on performance - the party seeking to avoid performance has not assumed the risk of the mistake - and equities favor avoidanc
'de nuvo'
Inadequate warning defect`
Assignor
Unilateral mistake


8. A fund with the goal of locating - investigating - and cleaning up abandoned or historical hazardous waste sites.
Superfund
Legal capacity
Vertical agreements
Expertised portion


9. A trivial defect in performance (the opposite of material breach).
Material breach
Substantial performance
Bona fide occupational qualification
Diminution in value


10. When the offeree pays for the offeror's promise to keep the offer open for a period of time - the offer will become irrevocable during that period (rejection - counteroffer - or death can affect the contract during that time)
The Council on Environmental Quality
Pretexting
Option contract
Clean Air Act


11. The power of the Supreme Court to review federal or state law as constitutional or not. It is the result of the 'Marbury v Madison' case.
Employment discrimination
Judicial review
Securities Act Registration
Securities Act


12. A condition that must occur before a duty to perform arises
Regulation S of the Securities Act
Federal Rules of Civil Procedures
Mutual rescission
Condition precedent


13. A creditor that does not have a security interest in any of the debtor's property or assets.
Defined contribution plan
Prosecution
Resource Conservation and Recovery Act
Unsecured creditor


14. The person who assigns her rights
Obligee
Assignor
Quasi-contract
Civil liability


15. A group of between 16 and 23 jurors who decide whether there is sufficient evidence to charge the defendant with a crime. A grand jury is required in the 5th Amendment for all criminal cases. The grand jury has the power to subpoena witnesses and doc
Condition subsequent
Grand jury
Pretexting
Negative causation


16. An intent to deceive or defraud
Precedent
Expertised portion
Scienter
Federal Insurance Contributions Act


17. The US appeals or appelate court. If a party appeals the district court's decision - it can be brought to the federal court of appeals or the federal court of appeals. It has appellate jurisdiction.
Consumer protection
Accord
Federal circuit court of appeals and the federal court of appeals
Specific performance


18. When the plaintiff's damages were caused by something other than the misrepresentation or omission
Limited jurisdiction
Remand
The Council on Environmental Quality
Negative causation


19. Agreements whereby a seller agrees to sell one product to a customer - but only on the condition that the customer purchases another product (vertical agreement)
Tie-in agreement
Contract
Employee-at-will
Levels of courts


20. Laws designed to ensure that employees who have work-related injuries receive compensation for those injuries without having to engage in litigation. Each state has worker's compensation statute - setting forth a specific level of benefits that emplo
Judgment n.o.v.
Substitutes of consideration
Bilateral contract
Workers compensation laws


21. It is the right to receive notice of any actions that would deprive a person of life - liberty - or property - and allows for the person to have the opportunity to present a case in a fair procedure before a neutral decision-maker. A clause found in

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


22. The government has the right to take property. This power is limited in that the property has to be for public use - and that the owner must receive just compensation.

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


23. Represents a motion to dismiss the case because the plaintiff's complaint does not establish a legal basis for any remedy against the defendant. It can be filed by the defendant.
Shareholder primacy
Demurrer
Liquidated damages clause
Price fixing


24. It is a pre-trial motion to take out certain matters
Specialized federal courts
Breach
Motion to strike
Obligee


25. The collection of state and federal laws that govern the employment relationship - other than laws addressing collective bargaining and labor relations
Fair Credit Reporting Act
Employment law
Supreme Court powers
Workers compensation laws


26. Torts and contracts... represents law that regulates the relationships between parties.
Scienter
Subjective intent
Unilateral rescission
Civil Law


27. Inadequate warning of danger - which can be construed as a design defect
Treaties authority
Scienter
Inadequate warning defect`
Attorney/client privilege


28. It focuses on the clean up of abandoned or historical hazardous waste sites - for which it established a 'Superfund'. The EPA (Environmental Protection Agency) identifies particularly egregious sites and places them on a National Priorities List. The
Legal capacity
Attorney/client privilege
Comprehensive Environmental Response - Compensation - and Liability Act (CERCLA)
Collective bargaining


29. 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.
Enabling acts
Duties that cannot be delegated
Novation
Title VII of the Civil Rights Act of 1964


30. Provides specific (3) categories for exemption: Rule 504 - 505 - 506
Pre-existing duty
Federal Trade Commission
Regulation D of the Securities Act
Foreclosure


31. A security interest is perfected by filing a financing statement - which describes the collateral and the creditor's security interests in the collateral. This serves as a notice to third parties. Perfection can also occur by taking possession or con
Exclusive dealing agreement
Perfected
A motion of summary judgement
Equal Employment Opportunity Commission (EEOC)


32. It regulates chemical substances
Delegation
Creditor
Contract
Toxic Substances Control Act


33. Prohibits securities fraud. Liability will be held when misstatement/omission - materiality - connection with a securities transaction - reliance - causation - and damages are proven.
Equal Credit Opportunity Act
Rule 504 of Regulation D of the Securities Act
Section 10(b) and Rule 10b-5 of the Exchange Act
Collective bargaining


34. Law that addresses crimes and punishment of crimes - and regulates individual actions so that they follow the socially accepted behavior. Criminal laws represent crimes against society/state.
Burden of proof
Criminal Law
Monopoly
Creditor


35. A beneficiary's rights vest when she (a) manifests her assent to the contract - (b) brings suit to enforce the contract - or (c) materially changes her position justifiable reliance on the contract. Once the beneficiary's rights have vested - the con

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


36. Created through the Occupational Safety and Health Ac. It is federal administrative agency that works with employers and employees to ensure compliance with workplace safety standards. It requires employers to maintain information on employee acciden
Occupational Safety and Health Administration (OSHA)
Workers compensation laws
Public company
Unemployment compensation laws


37. Once a beneficiary's rights have vested - she has enforceable claim against the promisee because the promisee's act was gratuitous. The beneficiary's rights arise from the contract between the promisor and the promisee

Warning: Invalid argument supplied for foreach() in /var/www/html/basicversity.com/show_quiz.php on line 183


38. A company becomes a 'public company' when it issues its securities pursuant to this registration process.
Motion for a more definitive statement
Public company
Complete or total integration
Organization for Economic Co-operation and Development (OECD)


39. Researches health and safety issues and recommends regulations. Created through the Occupational Safety and Health Act
'Blue sky' laws
National Institute for Occupational Health
Section 7A of the Clayton Act
Bilateral investment treaties


40. Enables debtors to create a repayment plan for certain debts - while still retaining their assets.
United States Bankruptcy Code ('Code')
Chapter 11 of the Code
Chapter 13 of the Code
Market division


41. Responsibility of a seller or manufacturer for any defective product unduly threatening personal safety
Inadequate warning defect`
Securities Act
Deliberation
Strict liability


42. Regulates trusts and monopolies
Pleadings
Federal Trade Commission
Commencing a lawsuit
'in pari delicto'


43. 1) A trial court - (2) An appeals or appelate court - (3) A supreme court
Unilateral mistake
Quasi-contract
Short swing profits
Levels of courts


44. The difference between the value of the property as substantially complete and the value of the property upon full performance
Diminution in value
Pregnancy Discrimination ACt
Equal protection
Short swing profits


45. The creditor's right to take possession of the property is called foreclosure
Environmental Protection Agency (EPA)
Clayton Act
Foreclosure
Common Law


46. Punitive damage - non-economic damages - and attorneys' fees
Affirm or disaffirm
Section 12 (a)(1) of the Securities Act
Non-recoverable damages
Unilateral contract


47. Applies to all employers who engage in interstate commerce. It authorizes the Secretary of Labor to create health and safety standards
Resource Conservation and Recovery Act
Counteroffer
Occupational Safety and Health Act
Companies that are subject to the exchange act (Reporting companies)


48. A person who is not an intended beneficiary
Incidental beneficiary
Foreclosure
Rule 144 of the Securities Act
Consequentialism


49. Ethical behavior is guided by duties or obligation. John Locke referred to these obligations as 'natural rights' that are natural - universal - and inalienable (as seen in the Declaration of Independence)
Social entity or stakeholder theory of the corporation
Strict liability
Deontological
The Council on Environmental Quality


50. This regulate the discharge of pollutants into the water. It authorizes the EPA (Environmental Protection Agency) to determine the permissible levels of contaminants in the water to ensure a safe water supply - and to set standards aimed at meeting t
Attachment
Standing
Federal Communications Commission
Clean Water Act