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Business Law 1 (GRCC) Exam Review Questions and Answers
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Business Law 1 (GRCC) Exam Review Questions and Answers
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Business Law 1 (GRCC) Exam ReviewQuestions and Answers
How iiis iibailment iicreated? ii- iiAnswers ii-Bailment iiis iicreated iiwhen iia iirelationship iiis
iiestablished iiwhen iisomeone iientrusts iihis iiproperty iitemporarily iito iisomeone iielse
iiwithout iiintending iito iigive iiup iititle.
What iiare iidifferent iitypes iiof iijurisdictions? ii- iiAnswers ii-Original iijurisdiction: iithe iiright
iito iihear iicases iifor iithe iifirst iitime ii(decide iiguilty iior iinot iiguilty)
Appellate iijurisdiction: iithe iiauthority iiof iia iicourt iito iihear iia iicase iiappealed iifrom iia
iilower iicourt ii(checks iiover ii1st iijursidiction)
Concurrent iijurisdiction: iiboth iihave iijursidiction iiover iiboth iicases
Exclusive iijursidiction: iihave iior iiheard iionly iiby iifederal iicourt
What iiis iicovered iiby iia iilimited iiwarranty? ii- iiAnswers ii-It iiis iiLIMITED iito iiwhat iiit
iicovers. iiIt iicould iimean iispecified iiparts, iicertain iitypes iiof iidefects, iior iiother iiconditions.
When iidoes iia iileasehold iiestate iiterminate? ii- iiAnswers ii-A iileasehold iiestate iiis iione
iiwhose iitermination iidate iiis iiusually iiknown. iiA iione-year iilease, iifor iiexample, iiwill
iiexpire iiprecisely iiat iithe iitime iistated iiin iithe iilease iiagreement.
When iiis iia iilandlord iiliable? ii- iiAnswers ii-The iilandlord iiis iiliable iito iihidden iidangers
iiknown iito iithe iilandlord, iidangers iito iipeople iioff iithe iipremises ii(but iistill iihis iiproperty),
iiand iipremises iileased iifor iiadmitting iito iithe iipublic.
What iiare iithe iirights iiand iiduties iiof iia iisubtenant? ii- iiAnswers ii-The iisubtenant iiis iion
iithe iiagreement iiof iia iiSUBLEASE ii(a iitransfer iiof iisomething iiless iithan iithe iientire
iileasehold iiinterest) iinot iia iiASSIGNMENT ii(the iitenant iitransfers iiall iiinterest iiin iithe
iipremises iiand iiall iiobligations), iiand iibecause iiof iithis iithe iisubtenants iionly iiobligations
iiare iito iithe iitenant.
When iican iia iitenant iitransfer iia iileasehold iiinterest? ii- iiAnswers ii-The iitenant iican
iitransfer iia iileasehold iiinterest iiat iiany iitime iiduring iitheir iilease.
What iiare iithe iilegal iirequirements iifor iihazardous iiwaste? ii- iiAnswers ii-
What iiis iian iieasement? ii- iiAnswers ii-A iilegal iiright iito iiuse iianother's iiland iifor iia
iispecific iilimited iipurpose, iibut iithe iiowner iistill iihas iiownership iiover iithe iiland.
, How iiis iian iiexpress iiwarranty iicreated? ii- iiAnswers ii-Whenever iithe iiseller iiaffirms iithat
iithe iiproduct iiwill iiperform iiin iia iicertain iimanner.
What iiis iicovered iiunder iiArticle iiIII iiof iithe iiConstitution? ii- iiAnswers ii-Article iiIII iicreates
iithe iifederal iijudiciary, iiand iithe iiBill iiof iiRights, iiadopted iiin ii1791, iimakes iiclear iithat
iiindividual iirights iimust iibe iipreserved iiagainst iiactivities iiof iithe iifederal iigovernment.
What iiis iiemployment iiat iiwill? ii- iiAnswers ii-That iirule iiholds iithat iiin iithe iiabsence iiof iia
iicontractual iiagreement iiotherwise, iian iiemployee iiis iifree iito iileave iiemployment iiat iiany
iitime iiand iifor iiany iireason; iisimilarly, iian iiemployer iiis iifree iito iifire iiemployees iiat iiany
iitime iiand iifor iiany iireason.
What iiare iithe iisanctions iifor iiviolating iiTILA? ii- iiAnswers ii-Creditors iiwho iiviolate iithe
iiTILA iiare iisubject iito iiboth iicriminal iiand iicivil iisanctions.
What iiare iigarnishment, iiwage iiassignment, iiand iiconfession iiof iijudgement? ii- iiAnswers
ii-Garnishment: iiWhen iia iicourt iiissues iian iiorder iirequiring iiyour iiemployer iito iiwithhold
iia iicertain iiamount iiof iiyour iipaycheck iiand iisend iiit iidirectly iito iithe iiperson iior iiinstitution
iito iiwhom iiyou iiowe iimoney, iiuntil iiyour iidebt iiis iipaid iioff.
Wage iiAssignment: iiAn iiagreement iibetween iiyou iiand iiand iisomeone iiyou iiowe iimoney
iito, iicalled iithe iicreditor, iithat iiallows iithem iito iitake iimoney iiout iiof iiyour iipaycheck iito
iipay iifor iiwhat iiyou iiowe.
Confession iiof iiJudgement: iiA iiwritten iiagreement iisigned iiby iithe iidefendant iithat
iiaccepts iithe iiliability iiand iiamount iiof iidamages iithat iiwas iiagreed iion.
What iiis iian ii"affirmative iieasement?" ii- iiAnswers ii-The iiright iito iiuse iianother's iiproperty
iifor iia iispecific iipurpose.
Can iithe iipurchaser iiobtain iirights iigreater iithan iithose iiof iithe iistorer iior iishipper? ii-
iiAnswers ii-If iia iidocument iiof iititle iiis ii"negotiable" iiand iiis ii"duly iinegotiated,"
When iican iiseniority iisystems iibe iia iidefense iito iidiscrimination? ii- iiAnswers ii-Can iibe iia
iidefense iionly iiif iiit iiis iia iibona iifide iisystem, iinot iidesigned iito iievade iithe iieffects iiof iithe
iianti-discrimination iilaws
What iiinterests iior iiobligations iiare iitransferred iiby iia iitenant iiin iian iiassignment? ii-
iiAnswers ii-The iitenant iitransfers iiall iiinterest iiin iithe iipremises iiand iiall iiobligations.
Can iia iilease iibe iicreated iiorally? ii- iiAnswers ii-Leases iican iibe iicreated iiorally, iiunless
iithe iiterm iiof iithe iilease iiexceeds iithe iiperiod iispecified iiby iithe iiStatute iiof iiFrauds.
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