A trust can be terminated in any of the following manners,except: _______.

Group of answer choices

by impossibility of attaining the object of the trust

by its own terms

by revocation of the trust by the settlor

by a money judgment against the trustee

Flag question: Question 72

Question 72

1pts

Ownership of shares of stock may be transferred by any of the following methodsexcept: ______.

Group of answer choices

delivery of a notice of intent to transfer.

delivery of the certificate and a separate power of attorney executed by the owner.

delivery of the stock endorsed by its owner in blank.

delivery of the stock endorsed by its owner to a specified person.

Flag question: Question 73

Question 73

1pts

In order to be eligible for Chapter 13 bankruptcy an individual must have secured debts of less than $1,000,000.

Group of answer choices

True

False

Flag question: Question 74

Question 74

1pts

If a merchant sells a lawn mower that will not cut any type of grass, there is a breach of the warranty of merchantability.

Group of answer choices

True

False

Flag question: Question 75

Question 75

1pts

A(n) ______ is a written statement, signed by the creditor or an authorized representative, setting forth any claim made against the debtor and the basis for it.

Group of answer choices

Preferential Transfer

Proof of Claim

Voidable Preference

Self-Settled Trust

Flag question: Question 76

Question 76

1pts

A provision giving a corporation the right to purchase a shareholder's shares on the death of the shareholder isinvalidunless approved by a majority of shareholders.

Group of answer choices

True

False

Flag question: Question 77

Question 77

1pts

Where a corporation is properly formed, it is called a corporation: ______.

Group of answer choices

di giorno.

by estoppel.

de jure.

de facto.

Flag question: Question 78

Question 78

1pts

A seller who makes a written express warranty for consumer goods costing more than $50 must conform to FTC regulations.

Group of answer choices

True

False

Flag question: Question 79

Question 79

1pts

The ______ is merely a comparison of assets to liabilities without considering whether the debtor will be able to meet future obligations as they become due.

Group of answer choices

Means test.

Preferential transfer test.

Balance sheet test.

Cost of living test.

Flag question: Question 80

Question 80

1pts

For the purpose of suing a corporation in federal court, the corporation is a citizen in the state where it has its principal place of business.

Group of answer choices

True

False

Flag question: Question 81

Question 81

1pts

Individuals and corporations, but not partnerships, may be reorganized under the Bankruptcy Code.

Group of answer choices

True

False

Flag question: Question 82

Question 82

1pts

An enterprise that conducts business following a merger or consolidation succeeds to all of the followingexcept:______.

Group of answer choices

all of the property of the predecessor.

all of the debts and liabilities of the predecessor.

all of the rights of the predecessor.

all of the management team of the predecessor.

Flag question: Question 83

Question 83

1pts

An express warranty is a statement of fact about the product that becomes part of the basis of the bargain.

Group of answer choices

True

False

Flag question: Question 84

Question 84

1pts

A discharge releases the debtor from the unpaid balance of most debts including federal taxes and tax penalties.

Group of answer choices

True

False

Flag question: Question 85

Question 85

1pts

If Bob owns 100 shares of stock for which he paid $1,000 to the corporation, the _______ would be $10 per share.

Group of answer choices

book value

market value

par value

capital value

Flag question: Question 86

Question 86

1pts

Under the Bankruptcy Reform Act, the "mansion loophole" increases the homestead exemption for debtors.

Group of answer choices

True

False

Flag question: Question 87

Question 87

1pts

An auto manufacturer is excused from strict liability if it can be shown the defect was in a component part purchased from a manufacturer.

Group of answer choices

True

False

Flag question: Question 88

Question 88

1pts

Which of the following must be proven by a plaintiff to recover for strict liability in tort?

Group of answer choices

privity of contract between the manufacturer and the buyer

recklessness of the seller or manufacturer

unreasonably dangerous defects in goods that cause harm

negligence of the seller or manufacturer