BLAW Final Practice

Is this your test? Login to manage it. If not, you can build a quiz just like it.

This is a non-interactive preview of the quiz content.

1.
1 point
Which of the following statements is correct with respect to remedies for wrongful dismissal?
2.
1 point
In which of the following is there no fiduciary duty owed?
3.
1 point
Which one of the following statements about priorities on a bankruptcy is incorrect?
4.
1 point
John and two friends incorporated a closely-held corporation. Each bought an equal number of common shares in the corporation. Each became a director, an officer and an authorized agent of the corporation. Which of the following is the least accurate?
5.
1 point
Ivan had participated in an early American antique auction for the last eight years as an agent for Calvin Melnick Ltd. (Melnick), an antique dealer. Ivan had always had the authority to buy whatever he felt Melnick needed. Today, however, he was given express instructions to buy only antique tables. When a beautiful old painting was being auctioned Ivan bought it on behalf of Melnick. Which of the following is false?
6.
1 point
Which one of the following does not indicate a partner’s breach of fiduciary duty? The partnership owns a pizza restaurant.
7.
1 point
In a secured transaction which one of the following remedies is available to the secured creditor that would not be available in a traditional breach of contract situation.
8.
1 point
Mr. Bacon ran a successful sole proprietorship manufacturing electronic components in his garage. The proprietorship owned land with a warehouse and factory on it. He incorporated a company and sold all the assets of the proprietorship to the limited company. He and his wife owned all the shares of the new company and were the only two directors. Since the new company had no money he lent it money so that it could buy the proprietorship assets. To secure that loan he personally took back a mortgage on the land, factory, and warehouse. The company became insolvent. Bacon foreclosed on the mortgage to get back the money he lent to the company. When the other creditors ended up with nothing they sued Bacon, saying he had no right to get his money back before they did. Bacon should be personally liable, the creditors claimed. Bacon won the lawsuit

Which statement best characterizes the legal principle(s) that this case highlights?
9.
1 point
Susan, a minority shareholder in Kinetic Software Ltd, (KSL) inherited her shares from her deceased husband who had been a software developer for KSL, one of four equal shareholders, and a director of the company. The company designs software for a variety of different types of businesses. The other three shareholders are the only three directors. Which one of the following situations most likely constitutes oppression of Susan, the minority shareholder?
10.
1 point
Which of the following is the most accurate with respect to limited partnerships?
11.
1 point
Bob, who had worked for Sleepy Foam Manufacturing Ltd., for 10 years, was a purchaser of chemicals that were needed by his employer in the manufacture of foam mattresses. Bob was discovered to have been taking “tips” of between $300-$500 in cash from a salesperson at Threlfall Chemicals each time Bob ordered chemicals in large quantities. When discovered, Bob was dismissed by Sleepy Foam. Bob had no written employment agreement with his company. Which one of the following statements is the most accurate?
12.
1 point
Which of the following statements is correct with respect to limited partnerships?
13.
1 point
Which one of the following situations will result in a partnership existing? Assume no corporation has been created.

14.
1 point
Which of the following is not a feature of a separate legal person?
15.
1 point
Which one of the following concerning a guarantee is correct?
16.
1 point
With respect to duties owed by an agent to his principal, which of the following statements is false with regard to agency law?
17.
1 point
Henrietta worked for Falcon Ridge Products Ltd (“FRP”) in Burnaby for twenty-five years. She has no written employment agreement. Recently a new supervisor, Bob, was appointed to head her department. Bob began to persistently bother her, making remarks about her appearance and then persistently asking her out on dates, which she rejected. After complaining to the Human Resources Manager, Henrietta was demoted to a lower-level job. Finally, Henrietta could tolerate it no longer and she resigned, leaving FRP the same day. Which of the following is the least accurate?
18.
1 point
Which of the following is an example of an independent contractor rather than an employee?
19.
1 point
Which one of the following is not among the responsibilities of a trustee in bankruptcy?
20.
1 point
Which of the following is false with regard to the characteristics of corporations?
21.
1 point
Which of the following cannot be protected by copyright?
22.
1 point
Peter has a senior management job at Minerale Aqua Ltd. Which one of the following concerning Peter’s duties to the company and the company’s duties to Peter is false?
23.
1 point
Which of the following statements is most accurate with respect to unlimited liability?
24.
1 point
An agency relationship can be created by:
25.
1 point
Regarding sole proprietorships which of the following is incorrect?
26.
1 point
Which of the following is protected by intellectual property legislation?
27.
1 point
Which one of the following is not an objective of registering personal property under the PPSA?
28.
1 point
Which one of the following statements is correct with respect to the law of partnership?
29.
1 point
Which of the following statements is false with regard to an agent's duties?