Question 1 A check is a promise to pay a sum of money at some time in the future. True False 1 point

Question
1
A check is a promise to pay a sum of money at some time
in the future.
True

False

1 points
Question
2
A negotiable instrument can be transferred by only
negotiation.
True

False

1 points
Question
3
Diner’s Restaurant issues an instrument in favor of
General Supplies, Inc. For the instrument to be negotiable, it need not:

a.

be an unconditional promise or
order to pay.

b.

be payable on demand or at a
specific time.

c.

be signed by Diner’s Restaurant.

d.

recite the consideration given in
exchange for a promise to pay.

1 points
Question
4
City Investment Company signs a check payable to
Downtown Lenders, Inc., to buy a promissory note executed by Eagle
Corporation. This check:

a.

does not constitute sufficient
consideration for HDC status.

b.

does not satisfy the value
requirement for HDC status.

c.

satisfies the consideration
requirement for HDC status.

d.

satisfies the value requirement
for HDC status.

1 points
Question
5
Good faith is “honesty in fact and the observance
of reasonable commercial standards of fair dealing.”
True

False

1 points
Question
6
In good faith and for value, Carol receives from Dick a
negotiable bearer instrument. Carol does not know that Dick stole the
instrument. Carol is:

a.

an HDC, because the good faith
requirement applies only to the holder, not the transferor.

b.

not an HDC, because the instrument
is a bearer instrument.

c.

not an HDC, because Dick did not
acquire the instrument for value.

d.

not an HDC, because Dick did not
acquire the instrument in good faith.

1 points
Question
7
If a stop-payment order on a check is not renewed, the
bank can pay the check, as a stale check, without liability.
True

False

1 points
Question
8
North Bank issues a cashier’s check for its customer
Ocean Shipping, Inc. Pier Harbor Company presents the check for payment.
North Bank must

a.

honor the check.

b.

refuse to honor the check.

c.

stop payment on the check.

d.

take possession of the check and
recredit its customer’s account.

1 points
Question
9
Sue receives a check from Temp Persons, Inc. (TPI). She
takes the check to United Bank, TPI’s bank, which refuses to cash it
because there are insufficient funds in TPI’s account. Sue can recover
from

a.

neither TPI nor United.

b.

TPI only.

c.

TPI or United.

d.

United only.

1 points
Question
10
Regional Products, Inc., hires Sam to act as its agent.
Tina sues Regional for Sam’s negligent conduct. Regional’s right to sue
Sam for an equal amount of damages is the right of:

a.

avoidance.

b.

cooperation.

c.

indemnification.

d.

reimbursement.

1 points
Question
11
Phil is an agent for Quality Products Corporation.
Whether it is reasonable for Reserve Supply Company to believe that Phil
has authority to enter a particular contract on Quality’s behalf, when
Phil does not actually have that authority, is a question of:

a.

apparent authority.

b.

general authority.

c.

power of authority.

d.

special authority.

1 points
Question
12
Tri-state Financial Corporation hires Uma, a real
estate agent, to locate investment properties for Tri-state. Uma learns of
a warehouse available for $100,000, informs Tri-state, and makes an offer
of $90,000 on Tri-state’s instructions. The offer is rejected. Uma:

a.

breached the agent’s fiduciary
duties to the principal.

b.

did nothing wrong.

c.

failed to take advantage of a
business opportunity.

d.

made an unreasonable offer based
on current market value.

1 points
Question
13
Which of the following best depicts whistleblowing in
the employment context?

a.

Tim jokes with his subordinates
about the activities of his coworker, Dick.

b.

The National Assemblers Union
publishes a statement disclosing the unfair labor practices of a competing
union.

c.

Ruth tells a coworker that she
thinks a product about to be marketed is unsafe.

d.

Kim informs government authorities
that his employer is engaging in illegal activities.

1 points
Question
14
Under federal law, only key employees who take
temporary family or medical leave are entitled to job reinstatement.
True

False

1 points
Question
15
The Fair Labor Standards Act of 1938 is concerned with
minimum wages.
True

False

1 points
Question
16
Standard Employee Corporation is subject to the Social
Security Act, which

a.

covers only employees who do not
receive employer-paid pensions.

b.

governs state unemployment
compensation funds.

c.

provides retirement, survivors and
disability insurance.

d.

regulates disputes between unions
and management.

1 points
Question
17
Under workers’ compensation laws, a worker who is
injured on the job files a claim with a government agency instead of suing
the employer.
True

False

1 points
Question
18
Pam applies for a job at a Quik Mart store but is not
hired due to her gender. Pam files a suit against Quik Mart. A prima
facie case is established. Pam:

a.

loses the suit regardless of Pam’s
response.

b.

loses the suit unless Pam asserts
an appropriate defense.

c.

wins the suit regardless of Quik
Mart’s response.

d.

wins the suit unless Quik Mart
asserts an appropriate defense.

1 points
Question
19
Standard Company denies a promotion to Tony, a member
of a minority, when he fails to pass a required test. Few members of
minorities have passed the test. The number of promoted employees who are
members of minorities does not reflect their percentage in the local labor
market. In a suit against Standard, if Tony can show a connection between
the test and the number of promoted minority members:

a.

it must be proved that Standard
had discriminatory intent.

b.

it must be proved that Standard
has other discriminatory practices.

c.

it must be proved that the test
had a discriminatory purpose.

d.

no evidence of discriminatory
intent is necessary.

1 points
Question
20
The Civil Rights Act of 1964 does not prohibit job
discrimination on the basis of education.
True

False

 

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