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BLAW 3100 GROUP 1 Flashcards | StudBud
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BLAW 3100 GROUP 1
BLAW 3100 GROUP 1
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1
Fraudulent misrepresentation occurs when the person should have known the statement was false.
False
True
2
When an agency agreement is in writing and under seal, it is called
Implied Contract
Power of Attorney
Express Contract
Confidential Agency Agreement
3
The organization test in employment law attempts to establish
Whether a company is a corporation or a partnership
What the classification of employees are within a business
The degree of control which an employer has over an individual
Whether an individual's services are fundamental to the business
4
Despite promising to work exclusively for Y for a year, TV artist X reneged and began working for Z. In this case,
Y has no remedy
X may work for Z
Y can bring suit upon Quantum Meruit
Y can bring suit for an injunction to prevent X to work for Z
5
Which of the following is not valid consideration?
Past consideration.
Payment to be made upon delivery of the goods.
A promise to accept early repayment of a debt by the creditor.
Payment was handed over at the time of the contract.
6
Misrepresentation can occur even if the method of communicating is a gesture, such as a nod of the head
False
True
7
__________ is concerned with a breach of duty through negligence.
Irresponsibility
Liability
Inaction
Tort
8
Which of the following is NOT a shareholder's right?
The right to vote
The right to inspect corporate documents
The right to decide the number of stock dividends
The right to sue for wrongful acts
9
Terms of the former contract are adopted by the parties to the new contract is called
Trust
Assignment
Novation
Constructive Trust
10
The assignment of rights can only take place voluntarily
True
False
11
Shares issued without any special rights attached to them are known as:
Ordinary shares
Preference shares
Rights shares
Debenture Shares
12
What is required to establish a claim for trespass to land?
Physical entry onto the property
Intent to harm
Knowledge of the property ownership
Stealing someone's property
13
A person on the property with permission but for non-business purposes is a
Tenant
Trespasser
Invitee
Licensee
14
Collateral contracts and addendums to contracts are all exceptions to what in regard to contract law?
The Adequacy of Consideration
Parol Evidence Rule
Breach of Contract
Privity of Contract
15
Which of the following is incorrect in relation to unliquidated damages?
Intended as compensation for the claimant's loss.
Damages may be reduced after considering claimant's liability to taxation.
Intended to punish the defendant for acting in breach of contract.
Where no loss has occurred the court will award nominal damages only.
16
What is the seller's action of stopping the delivery of goods called?
Stoppage in memoria
Stoppage in Transit
F.O.B
C.O.D
17
In which situation rescission is not available?
All the above
Innocent misrepresentation
Negligent Misrepresentation
Adverse impact on a third party
18
In what situation are the Sales of Goods Act applicable?
In all services
In the buying and selling of tangible goods
In a Barter contract
In the transfer of real property
19
______ is an agency agreement that sets out limits of the agent’s authority
Implied authority
Power of attorney
Actual authority
Express authority
20
Which of these is NOT a reason for discharging a contract?
Tender of performance by one of the parties
Breach of warranties of contract
Agreement of both parties to discharge the contract
Completed performance of a contract
21
Which one of the following statements is incorrect?
There is no statutory maximum age for directors
The statutory minimum age of a director is 18
A public limited company must have at least two directors
There are no legal qualifications necessary for being a director
22
The contract which is prohibited by the law is
Voidable
Improper
Illegal
Enforceable
23
A contract must be in writing to be enforceable if it makes performance possible over a period of more than one year
True
False
24
What is the Competition Act intended for?
To allow businesses to act as entities
To prevent business activities that interfere with free market systems
To encourage frequent mergers and acquisitions
To allow businesses to compete without any interference from the law
25
_______ is when a supervisory party is liable for the negligent actions of a third party for whom they are responsible
Contingent liability
Business liability
Personal liability
Vicarious liability
26
Privity of contract empowers parties to impose benefits or obligations on non-contracting third parties
False
True
27
Which of the following has a separate legal entity?
Partnership
Sole Proprietorship
Limited Partnership
Corporation
28
Which of the following is correct in relation to the mitigation of loss caused by a breach of contract?
The claimant must take all reasonable steps to mitigate his loss.
The claimant must take all necessary steps to mitigate his loss.
The claimant must use his best endeavours to mitigate his loss.
The claimant must take every step possible to mitigate his loss.
29
Which of the following is an example of a strict liability offence?
Fraud
Assault
Intrusion onto another's land by livestock
Libel
30
If a person exposes himself unnecessarily to danger and is injured, the defence in a liability suit may claim _________.
Assumption of risk
proximate cause
contributory negligence
malfeasance
31
Negotiable instruments include
Promissory notes
Cheques
All the above
Bills of exchange
32
What is meant by constructive dismissal?
Employer dismisses the employee without the notice agreed in his contract
Where an employee is dismissed for an unfair reason
Serious breach of contract by employer entitles employee to terminate
Employee is guilty of gross misconduct and the employer dismisses him
33
If a contractor is fired halfway through completing his job, the contractor will be asked to be paid based on:
Promissory Estoppel
Tender of Performance
Caveat Emptor
Quantum Meruit
34
A type of Union where all new employees must become part of the union before being hired is called a
Closed Shop
Union Shop
Rand Formula
Federal Unions
35
In sole Proprietorship, liability DOES NOT extend to the personal assets of the business owner
True
False
36
Professionals such as doctors or lawyers contracting with their patients or clients is an example of
Undue influence
Unconscionable Transaction
Duress
Assignment
37
A void contract has never been a contract and never will be
False
True
38
The general test for physical causation in negligence cases is called?
Reasonable Foreseeability Test
Remoteness Test
But-for test
Legal Test
39
Damages which were in the contemplation of both parties at the time of contracts are called.
Special damages
Demurrage
Vindictive damages
Liquidated damages
40
In which one of the following circumstances is there no consideration?
Le-Ann gave Sundeep £80 for her designer handbag
Bernard gave Timothy £50 for cleaning his motorbike.
X promised to clean Y's car in return for Y's promise to do X's washing up.
Monica stated she would give Theresa's children a lift to school every day
41
An email contract is NOT valid and enforceable
False
True
42
Which statement is correct for the parol evidence rule?
Courts will not permit outside evidence to contradict the clear wording
Share with a stated value at issuance
A contract at the stage when one party has performed, and the other has not
A contract that may be verbal or written but is not under seal
43
Seller DOES NOT get priority over other creditors in case of buyer's bankruptcy
True
False
44
What is the one thing that must be present in all intentional torts of economic relations?
Purposeful behaviour
Violation of rights
Contracts
Relationships
45
A claimant who is able to establish that the defendant acted in breach of contract is unable to claim compensation for
Financial loss.
Damage to property.
Personal injury.
The inconvenience of having to sue for breach.
46
What is an example of an unconscionable transaction?
Your friend sells you a pebble for free
A pastor shows you a new trending product
You speak to your dog while under the influence
You force a drunk man to sign away his car
47
Which of the following is not a common defence against negligence?
Proximate cause
Contributory Negligence
Assumption of risk
Misfeasance
48
Which of the following statements is incorrect?
Mental incapacity of an agent will terminate the agency relationship.
An agency may be terminated by the death of either party.
An agency agreement can always be terminated by a principal.
An agency may be terminated by express agreement.
49
What is the purpose of the Sale of Goods act?
To define what a currency is
To set aside Caveat Emptor
To enforce the power of Caveat Emptor
To define contract law
