Question: What is the primary legal protection provided to franchisees under federal law?
Protection against unfair termination of the franchise contract.
Guaranteed territory rights without the possibility of another franchise opening nearby.
The right to transfer the franchise to a new owner without the franchisor’s consent.
None of the above.
Answer: Protection against unfair termination of the franchise contract.
Question: Which of the following is true with respect to a built in swimming pool in the backyard of a house?
Because it is not part of the house, it is not considered real property.
Because it is built into the ground, it is considered to be part of the real property.
Because the pool could be filled up with dirt, it is considered real property.
Because a pool is recreational, it is not real property.
Answer: Because it is built into the ground, it is considered to be part of the real property.
Question: An individual was seen fleeing a bank with a bag full of money. Following a police chase, the individual was stopped but the bag was nowhere to be found. The individual is arrested and brought to trial. The questioning of the individual (now a defendant) by the prosecutor would establish his guilt or innocence. Which of the following is true?
Answer Options:
The prosecutor cannot compel the defendant to testify against himself.
Because the defendant’s testimony would likely establish his guilt or innocence, the prosecution can compel the defendant to testify.
Only the judge can decide whether the defendant will have to testify against himself.
Although the defendant can be compelled to testify, if acquitted, he cannot be tried again.
Answer: The prosecutor cannot compel the defendant to testify against himself.
Question: Intellectual property is an example of which of the following?
Tangible personal property.
Real property.
Intellectual property is not considered property.
Intangible personal property.
Answer: Intangible personal property.
Question: Which of the following is not necessary in a principal agency relationship?
Answer Options:
Consent
Consideration
Authority
Two parties
Answer: Consideration
Question: Granny Appleton, a conscientious shareholder has reason to believe that corporate officers are embezzling. In requesting to review appropriate corporate records, which of the following is she not entitled to?
Answer Options:
The right to review relevant records that she has properly specified.
Delivery of the relevant books and records to her home.
The right to inspect the relevant corporate books during regular business hours.
The right to copy relevant corporate records.
Answer: Delivery of the relevant books and records to her home.
Question: Because Miranda Wrights is going to be out of town, she notifies the seller of a house she contracted to purchase that Asher Will sign the contract on her behalf. Asher signs the contract. When Miranda returns, she changes her mind and informs the seller that she has no interest in purchasing the house. Which of the following is true?
Miranda is legally obligated to buy the house.
Asher is personally liable for any damages due to the breach of contract.
The seller can force Asher to purchase the house on Miranda’s behalf.
None of the options listed.
Answer: Miranda is legally obligated to buy the house.
Question: In a very fancy smancy restaurant, there is a lounge where diners waiting for a table can sit on spacious couches and chairs. Free soda and cheese and crackers are available on a long table in the lounge. Miranda and Asher who have reservations at the restaurant next door decide to wait in the lounge of the fancy smancy restaurant until their table is available at the other restaurant. Which of the following is true?
Asher and Miranda cannot use the lounge to wait and/or to eat the cheese and crackers because they do not have license to do so as they are not eating at the fancy smancy restaurant.
As long as Asher and Miranda wait but do not eat the cheese and crackers, they can use the lounge.
Asher and Miranda cannot use the lounge to wait and/or to eat the cheese and crackers because they do not have an agreement to do so as they are not eating at the fancy smancy restaurant.
Because the lounge is open to the public, Asher and Miranda can use the lounge to wait and/or eat the cheese and crackers.
Answer: Because the lounge is open to the public, Asher and Miranda can use the lounge to wait and/or eat the cheese and crackers.
Question: Whether a franchisee is required or not required to use the franchisor’s logo is?
Dependent on state law.
Only required pursuant to the franchisor’s requirement.
Dependent on federal law.
None of the alternatives are correct.
Answer: Only required pursuant to the franchisor’s requirement.
Question: Portfolio A has but one stock, while Portfolio B consists of all stocks that trade in the market, each held in proportion to its market value. Because of its diversification, Portfolio B will by definition be riskless.
a. True
b. False
Answer: