1. Does consideration have to be fair?

1. Explain the difference between offerand invitation to treat. Give an example of each.

1. What must be proven in every case order to have a contract set aside for misrepresentation? What are the different types of misrepresentation and what are the damages for establishing each type?

1. Explain the difference between the standard of care that is applied to average members of society and the one that is applied to persons who have specialized training (like doctors or lawyers).

1. Under what circumstances can an employee be dismissed without notice?

1. When an employee is terminated without cause and you have offered pay in lieu of notice, why should you give the terminated employee time to consider the amount of pay before requiring them to sign a waiver? (NOTE: the waiver you ask them to sign is the terminated employee agreeing not to sue the employer for more pay-in-lieu-of-notice in exchange for the actual pay-in-lieu-of-notice set out in the waiver) HINT: think about undue influence here.

1. What is "constructive dismissal"?

1. Explain how human rights legislation applies to employment.

1. Distinguish between an agent's actual, implied and apparent authority. Explain why this distinction can be important from the agent's point of view.

1. Agents owe a fiduciary duty to their principles. What are the requirements of that duty?

1. Identify at least 3 benefits of the sole proprietorship approach to doing business.

1. Are partners liable for each other's debts and obligations? What is the legal reason for this?

1. What are the ways that a partnership can come into existence?

1. What must be done in order to set up a limited partnership? What must NOT be done by a limited partner if they wish to retain limited liability?

1. List 3 benefits to doing business as a corporation.

1. Explain how the liability of shareholders is limited.

1. How can a corporation be ended?

1. What is meant by "preferred share? How does being a preferred shareholder affect your priority to be paid out in the event that the corporation is wound up?

1. Explain the purpose a unanimous shareholders agreement.

1. What is meant by a fee simple in land?

1. Identify at least four ways in which legal restrictions can be placed on the way an owner uses her land.

1. What is the main purpose of the Sale of Goods Act?

1. If the contract for a sale of good is silent on when title transfers, explain the rules that will imply when title transferred. (Why do we care when title transferred?)

1. What kinds of property can be used as collateral under the PPSA?

1. How is priority of creditors with secured interest in personal property determined? What is the exception?

1. Explain the role of the trustee in bankruptcy.

1. What is the priority of creditors in bankruptcy?