1.T / F An agent must be professionally registered in order to act on behalf of a principal

1.T / F A partnership can hire employees on terms that limit the liability of the partners for the employee's actions

2.T / FI can keep my pet cobra Karl as a pet in Toronto

3.T / F A wall mounting for a flat screen television could be considered a fixture

4.T / F Fiduciary duties exist only where it is made explicit in a contract

5.T / F A life estate allows the holder to make modifications for the betterment of the property

6.T / F A patent is an allowable tool to ensure others cannot enter into a market

7.T / FAn ownership in land is known as a fee advanced

1.The early modern American industrial economy can be best characterized by?

a.A product of the revenue generated by wheat products

b.International trade agreements

c.Industrial espionage

d.Domestic innovation

2.Which of the following could be considered patentable material?

a.My homemade potato salad

b.A method of testing experimental medical procedures on humans

c.How I shelve my books

d.None of the above

3.Which of the following is true of confidential business information?

a.Information that is widely known in the industry can be protected through intellectual property rights

b.An invention must be entirely original in order to be considered eligible for protection under intellectual property law

c.Registration of intellectual property rights is enforced on a province by province basis

d.An employee cannot rely on the information once they leave their position of employment

4.In a partnership what would not be considered a right of a partner?

a.To avoid liabilities for the actions of their partners

b.To dissolve the partnership without notice if the business relationship breaks down

c.To buy the shares of other partners at a negotiated value

d.To deny the existence of a partnership agreement

5.What would be considered a duty to accommodate?

a.The obligation to assist unionized workers

b.The duty to provide housing for immigrant workers

c.The duty to assist employees with disabilities

d.The duty to provide 6 months unemployment payments if the employee is dismissed for cause

6.Which of the following would NOT apply to possession of property?

a.Title to property must be lawfully acquired

b.Possession is considered 9/10ths of the law

c.A prior owner who acquired property through illegal means does not have any prior claim to property

d.A person who is aware of a prior owner may take possession but must protect it in the best interest of the known owner

7.Which of the following would NOT be considered moral copyright?

a.The creator of the copyright does not need to be recognized if they sell the copyright

b.The creator of the work can prevent their work from being used for a cause

c.The copyright owner must not always maintain full vigilance over the copyright

d.All of the above

8.Which of the following would NOT be considered a benefit of union membership?

a.It comes with a cost with respect to union dues

b.It will not provide protection to all members

c.You may opt out of union membership in all workplaces

d.The union helps negotiate some benefits that employees might not otherwise obtain

9.Which of the following activities is a corporation PREVENTED (by statutes or by-laws) from carrying out?

a.Creating other corporations

b.Buying or selling other business organizations at a price that the corporation deems fit by buying up shares in the other organization

c.Forcing minority shareholders to accept a merger at an agreed upon price by the board of directors

d.All of the above