1) Which of the following isNOTa preferred creditor under theBankruptcy andInsolvency Act?

a. The trustee in bankruptcy

b. The federal government

c. Banks for the balance owing on loans

d. Landlords for three months arrears of rent

2) "Due Diligence" in the environmental law context

a. is one of the defences which a party charged with an environmental offence may use

b. would be satisfactorily proven where company officials have issued directives to management to establish careful storage procedures for potential contaminants

c. requires ongoing monitoring by the company's directors to ensure that management is complying with the directives set out

d. is part of the environmental assessment process to determine whether a certain activity has the potential for causing environmental damage

e. All of the above

f. None of the above

3) Under the Common Law of environmental nuisance

a. a defendant may successfully claim that the nuisance is a benefit to the public thereby eliminating liability

b. a defendant may use the defence that it used all necessary care and skill to prevent the nuisance from occurring.

c. a defendant may successfully use the defence that it existed with its offending activity before the plaintiff came to the nuisance

d. a defendant may not argue that its actions do not constitute nuisance because other entities independent of it are also engaged in the same activity

e. all of the above

f. none of the above

4) Kirk runs Trek Inc. He has been doing business in Canada for several years. Trek Inc. manufactures Flux Capacitors for the growing clean energy trend. He wishes to expand into the European market. He is concerned about the expansion and is unsure of the proper method of establishing the company abroad. He is thinking of contacting a European company to assist in this expansion. How may an ongoing relationship for the distribution of goods be structured?

a. Foreign Distribution Agreement

b. Creation of a Foreign branch plant or sales office

c. Joint Venture agreement

d. Licensing of Patents

e. Both A and B

f. All of the above

5) Which of the following statements about partnershipsis false?

a. All Ontario limited and limited liability partnerships must be registered with the provincial government

b. A written partnership agreement is necessary to form a general partnership

c. without a partnership agreement, the death of any partner in a general partnership will result in the dissolution of the partnership

d. both sole proprietors and partners in a general partnership have unlimited liability for business debts

6) In the contract of sale of Jones' house to Greenwood, no particular method of payment was specified. Greenwood's lawyer has heard rumours that Jones got a much better offer after he signed the deal with Greenwood, and, from the attitude displayed by Jones recently, Greenwood's lawyer thinks Jones may be hoping the deal will fall through. Greenwood ...

a. should make sure he has cash for the full amount on the date of closing

b. should make sure that, if he has a personal cheque for the full amount, it is accompanied by a banker's letter guaranteeing the funds are there.

c. should make sure he has a certified cheque for the full amount on the date of closing

d. need not worry about how payment is made since, as long as it is the exact amount, Jones cannot legally refuse any mode of tender, provided that the contract did not stipulate a particular mode.