JURI 570 Quiz 4

JURI 570 Quiz 4 Liberty University

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JURI 570 Quiz: Corporations, Debtor-Creditor Relations, and Business Regulation

1. A design patent:
2. With respect to the board of directors of a corporation, which of the following is NOT correct?
3. The Lanham Act has been amended by the:
4. A copyright would protect a photograph.
5. An employee may quit the Tel Ko Company and then use information he learned at Tel Ko in competition with Tel Ko, unless there was some unfair competition or a trade secret
6. The National Labor Relations Act is also known as the:
7. Marks such as “Good Housekeeping Seal of Approval” and “Underwriter’s Laboratory” are examples of:
8. Automatic perfection would occur in which situation (assuming a written security agreement)?
9. An artist would like to protect one of his original oil paintings from being sold as original prints. He may protect his painting by applying for a:
10. Title VII of the Civil Rights of 1964:
11. A corporation has perpetual existence unless otherwise stated in its articles of incorporation.
12. Which of the following names would NOT be permitted under most general incorporation
13. A union’s “secondary activity” is a:
14. Social Security programs are funded completely through employer taxes.
15. A corporation can be formed in the State of New York by complying with New York statutes or with the Federal Model Corporation Act.
16. Promoters have a fiduciary duty to the corporation.
17. The Rehabilitation Act prohibits discrimination on the basis of handicap in federal programs but does not require federal contractors and agencies to take affirmative action to hire qualified handicapped persons.
18. Wells purchased a refrigerator to use for storing medications at his office. The refrigerator will be classified as:
19. Which of the following is NOT covered by the Fair Labor Standards Act?
20. Theodore, as treasurer of Valleyview Corporation, had the duty to invest corporate earnings as he deemed best for the company. When Valleyview Corporation went public, the new board decided that a committee of the officers would make such investment decisions. If Theodore thereafter unilaterally contracted to purchase investment securities with corporate earnings as he had done many times before, such contract would be valid:
21. The international treaty to which the United States is a party and which protects copyrighted works is known as the:
22. Indispensable paper includes:
23. The bylaws of the corporation:
24. Georgia’s company may lawfully discover Samantha’s company’s trade secrets if Samantha’s company fails to take reasonable precautions to protect their trade secrets.
25. A court may dissolve a corporation in a proceeding by a shareholder if it has established that:
26. Which of the following is correct regarding the removal of Mr. X from the board of XYZ?
27. The Norris-La Guardia Act gave federal courts the power to issue injunctions in nonviolent labor disputes.
28. Which of the following is a prerequisite for requesting appraisal rights?
29. Federal trademark protection:
30. Upon the surety’s payment of the principal debtor’s entire obligation, the surety obtains all of the rights the creditor has against or through the principal debtor. The term for the surety’s “stepping into the shoes” of the creditor is known as:
31. A corporation is considered a citizen:
32. Zeron Corporation is incorporated in the State of West Virginia. It now wants to open a retail outlet in Kentucky. Zeron must obtain a certificate of authority allowing it to do business in the Commonwealth of Kentucky.
33. If a company owns 90 percent or more of the outstanding shares of each class of a subsidiary company’s stock, a merger may be effected with approval of the parent’s board of directors alone, without resort to shareholders. This is called a:
34. A bond, which is an evidence of indebtedness, may serve as collateral.
35. Dayton Hardware Store and Leighton Bank enter a loan agreement in which Leighton agrees to lend $10,000 on the security of Dayton’s existing store equipment. A security agreement is executed and a financing statement is filed, but no funds are advanced. A week later, Dayton enters a loan agreement with Ramos Bank in which Ramos agrees to lend $10,000 on the security of the same store equipment. The funds are advanced, a security agreement is executed, and a financing statement is filed. A week later, Leighton Bank advances the agreed $10,000. Dayton defaults on both loans. In this case:
36. One of the fiduciary duties of directors is the duty not to compete with the corporation. They may pursue their own business interest, but they may not:
37. In order to be the subject of a suit for copyright infringement, the copyright:
38. Which of the following is the effect of the business judgment rule regarding the liability of officers and directors?
39. Who administers the federal unemployment compensation laws?
40. Morales, president of Tradewind Industries, Inc., would have actual implied authority to:
41. If Sharpe Finance Co. has a secured interest in Jeff’s car and Jeff is in default, in most states Sharpe may take the car from in front of Jeff’s house without getting a court order.
42. If a foreign corporation wishes to avoid transacting business in Arkansas, it would be careful NOT to do which of the following in Arkansas?
43. Which of the following may influence a promoter to choose to incorporate in a particular state?
44. The fraudulent marketing of one person’s goods as those of another is referred to as:
45. The majority of courts view a stock subscription as merely an offer that cannot be accepted until:
46. Which of the following is true of liquidation of a corporation?
47. Which of the following is NOT a basis for involuntary dissolution?
48. If the court finds misappropriation of trade secrets, it may award the following remedies:
49. Shares in a publicly held corporation typically are:
50. The RMBCA provides what period of time within which an otherwise barred claim may be enforced for a claimant who did not receive notice of dissolution and liquidation?