1. To avoid violating the Federal Trade Commission's rules on "Bait-and-switch," a merchant must ensure they stock enough product to meet a reasonable demand when they have advertised that product for sale to the public. T/F

2. Franklin rented a two-bedroom apartment to Darlene. Darlene's rent is due on the first of the month and the lease is on a month-to-month basis. This type of tenancy is known as a "tenancy at will." T/F

3. Mr. Reynolds has been sick for some time. One day, when three of his high school buddies come to visit him, Mr. Reynolds tells them he's dying and asks them to witness an oral will disposing of his personal property. This is valid and legal will in some states. T/F

4. Someone can obtain a patent for either an idea or for a tangible application. T/F

5. Schulz, Co. wants to advertise the sale of a new pesticide for farmers to use in their cotton crops. Schulz, Co. must register the pesticide with the EPA first. T/F