4 MGT 102 Quizzes (25 quesions per quiz)

Q1. A lease should describe the premises and state how long it will be in effect.    a. true    b. false Q2. Property is:    a. something inherited from an ancestor    b. the legally protected expectation of being able to use a thing for one's advantage    c. always a physical object that can be sold or given to another person    d. never a physical object    e. something universally recognized as subject to unrestricted trading Q3. Your neighbor burns old tires in his back yard. That produces fumes that go on your yard. That is likely the tort of:    a. assault    b. private nuisance    c. public nuisance    d. conversion Q4. To have adverse possession of property, the user must have continuous occupation of the property.    a. true    b. false Q5. Which of the following is an intentional tort against property:    a. defamation    b. conversion    c. malicious prosecution    d. invasion of privacy Q6. An easement is a servitude that limits the right of an owner to exclusive use and possession of real property.    a. true    b. false Q7. Most covenants impose a benefit on an estate.    a. true    b. false Q8. A leasehold is:    a. the interest a person holds in rented property    b. the person who leases a piece of property to another person    c. the person who holds a lease on a piece of property    d. the legal document that details the terms of a lease Q9. Intellectual property protection around the world is encouraged by:    a. the World Intellectual Property Organization    b. the World Intellectual Property Group    c. the International Society for Intellectual Property Protection    d. the United Nations    e. the European Union Q10. The law provides protection to intellectual property owners through which legal action?    a. malicious prosecution    b. assault    c. infringement    d. slander    e. infliction of emotional distress Q11. Rights of literary property as recognized by law are:    a. copyrights    b. patents    c. estates    d. literary rights    e. media rights Q12. Trade names are registered under the Lanham Act and are protected by the Patent and Trademark Office.    a. true    b. false Q13. Suppose a company steals a commercial trade secret from another company:    a. there may be criminal prosecution under the Federal Trade Secrets Act    b. there may be criminal prosecution under the Economic Espionage Act    c. there may be criminal prosecution under the Trade Secret Protection Act    d. there may be criminal prosecution under the American Economic Data Act Q14. A commercial symbol that a manufacturer prints on its goods so they can be readily identified in the marketplace is a(n):    a. symbol    b. marker    c. trademark    d. intangible marker    e. patent Q15. Patents may be granted for theories that are proven.    a. true    b. false Q16. What allows exclusive control over original written works, musical compositions, art and photography; including control over reproduction, display and derived works:    a. copyrights    b. patents    c. trademarks    d. trade names    e. servitudes Q17. The purpose of a contract is to:    a. make it easy to do international business transactions    b. encourage innovation    c. encourage investment    d. give parties confidence that bargained-for exchanges will be enforceable    e. give parties confidence that they will make a profit Q18. An effective offer requires a clear manifestation of intent, definite terms and conditions, and communication of the offer.    a. true    b. false Q19. Consideration is the element of a contract that:    a. allows it to be a gift    b. prevents it from being a gift    c. gives the offeror a better deal    d. gives the offeree a better deal    e. provides the terms of acceptance Q20. The idea that breach of contract generally only allows recovery for profits and costs incurred due to the breach is called:    a. the compensatory rule    b. the economic loss rule    c. the remedy doctrine    d. contract damages doctrine Q21. The remedy of ___________ may be used to prevent unjust enrichment.    a. restitution    b. specific performance    c. real performance    d. fair compensation    e. equal parts Q22. In a case of ___________, a person enters into a contract because they are so dominated by another person, or have so much trust in that person that they are subject to improper persuasion.    a. duress    b. misrepresentation    c. undue influence    d. dominance Q23. When the payment of money damages is inadequate for a breach of contract a court may order the remedy of:    a. specific performance    b. extra performance    c. nominal performance    d. compensatory performance    e. special performance Q24. When the party who breaches a contract has behaved maliciously and committed a tort, the court may want to discourage such behavior in the future by imposing what damages besides regular damages?    a. compensatory    b. expectancy    c. liquidated    d. nominal    e. punitive Q25. If the values of the items exchanged in a contract are unequal courts generally:    a. hold that the contract is not binding    b. require the parties to rewrite the contract    c. support the contract anyway    d. require the offeror to add something to the contract    e. require the offeree to add something to the contract