MCQ

QUESTION 11

A Co., a local importer of steel ingots, enters into a contract with B Co., a large wholesaler of steel, to supply B Co. with ten 50-pound steel ingots, which B Co. will try to sell on behalf of A Co.; B Co. is to return to A Co. any unsold ingots. In this situation, the agreement is

an option agreement.

a consignment agreement.

an agreement to sell.

a sale agreement.

an agreement of purchase and sale.

1 points

QUESTION 12

Albert owes George a sum of money and gives George a cheque made out to George for the amount he owes. In this case, George is

the payor of the cheque.

the assignor of the cheque.

the payor of the cheque.

the holder of the cheque.

the endorser of the cheque.

1 points

QUESTION 13

An agency agreement may be express or implied, oral, written, or in writing under seal.

True

False

1 points

QUESTION 14

Rogers Canada Ltd. has just created a very attractive, totally new design for a cell phone keypad for use in all of its cell phones. If the company wishes to protect its new design, it will do so under

the Copyright Act.

the Industrial Design Act.

the Patent Act.

the Trade-marks Act's service marks provisions.

all of the above

1 points

QUESTION 15

When the parties agree to a change in the terms of an existing insurance contract, they may do so by attaching a separate paper called

an amendment.

a supplement.

an endorsement.

a recommendation.

a rider.