8.

Which one of the following statements about the Personal Property Security Act is true?

Select one:

a. This legislation applies only to all present transactions where personal property is given as security interest to enforce an obligation.

b. If a secured creditor fails to register his security interest in the Personal Property Registry, he loses his rights against the debtor.

c. Unless a creditor in a secured transaction covered by this act takes steps to attach and perfect his security interest, he could lose that interest to someone outside the contract.

d. In a situation where a debtor fraudulently attempts to transfer property that he has given as security, the Act is designed to protect both the debtor and the secured creditor.

9.

Pat O'Grady owes Robinson $5000 in cash, but resents Robinson talking about O'Grady's debt among mutual acquaintances. O'Grady wants to know which of the following tactics would be legal performance

Select one:

a. Not pay Robinson until Robinson came for the money

b. Pay him on time but with a cheque

c. Deliver the money to his house (instead of to his office) at 3:00 a.m. on the due date

d. Pay him on time in $5 bills

10.

Which of the following statements more accurately describes an employee rather than an independent contractor?

Select one:

a. The person is an essential part of an employer's organization.

b. The person provides his/her own tools

c. The person determines his/her own work schedule

d. The person has a high level of financial risk.

11.

Which of the following is not considered personal property in legal terms?

Select one:

a. Intangible property or chose in action

b. A good affixed to real property

c. A claim against someone that has value

d. Intellectual property (ideas and creative work)

12.

Monsanto Canada Inc. developed a strain of canola seed that was resistant to a herbicide that Monsanto produced. Monsanto patented this strain of genetically-engineered seed. Schmeiser, a farmer, noticed that some of his crop was resistant to this herbicide. He collected these seeds and replanted them. When it turned out his plants contained the genetically-modified genes, Monsanto sued for patent infringement. How should the Court rule?

Select one:

a. One can patent genetically altered plant forms. Monsanto lost the action, however, as the farmer's infringement was not deliberate.

b. One cannot patent genetically altered plant forms. Life forms cannot properly be the subject of a patent application.

c. While genetically altered plant forms can be patented for medical purposes, they cannot be patented for commercial gain.

d. One can patent genetically altered plant forms. By collecting, saving, and planting the seeds, the farmer infringed the Patent Act.