Question
Multiple questions 1 .The land titles system of registration guarantees the accuracy of title to real property. True False 2 The Industrial Design Act protects
Multiple questions
1 .The land titles system of registration guarantees the accuracy of title to real property.
True
False
2 TheIndustrialDesignActprotects
a unique shape, pattern, or element of design of a product.
True
False
3 The word(s) "Registered" or "Rd" must be marked on an industrial design in order to have full protection.
True
False
4 An assignee is a person who transfer rights to an assignor under an assignment.
True
False
5. Lucy rents a commercial storage space every summer to store her possessions while she is not at school. She pays the storage fees by cheque each month to the owner of the facility. Lucy is:
A subtenant
An assignor
In a fixed tenancy
In a periodic tenancy
6. Jason worked as an employee of MegaByte Industries, a computer conglomerate. As part of his job, he produced a unique program for routing emergency calls to the appropriate public emergency services departments. There is no written employee contract dealing with ownership of the program. This program can be:
Copyrighted only by MegaByte
Copyrighted only by Jason
Patented only by MegaByte
Patented only by Jason
7. Mortgagor is the bank or person lending the money.
True
False
8. Intellectual property is a form of tangible personal property.
True
False
9. A net lease is one in which the tenant pays a fixed amount as rent as well as a percentage of the landlord's operating expenses.
True
False
10. A bailment occurs when one party gives another party temporary possession of a good or chattel for a specific purpose.
True
False
11. A mortgage is a debt secured by the real property to ensure payment of a loan for a set amount of money.
True
False
12. Your business's reputation and goodwill is a form of intangible personal property.
True
False
13. Which of the following isnotconsidered personal property?
Chattels
Goods
Fixture
Movables
14. Mortgage agreements usually have conditions as part of their terms. What isnota condition usually found in a mortgage agreement?
To make monthly payments on time
To ensure that property taxes are paid each year
Not to commit waste
Not to remortgage without consent
15. Confidential information is protected in Canada by registration.
True
False
16. A trademark protects terms, symbols, and designs that identify a product or company.
True
False
17. An assignment is when the tenant transfers the tenancy to another person for the remaining term of the lease.
True
False
18 Bell Canada created an extremely attractive, totally new design for a touch-tone keypad for use in all its new cell phone. Bell wishes to protect the design. It should do so under:
theCopyrightAct
theIndustrialDesignAct
thePatentAct
theTrade-marksAct
19. A lease is a contract that sets out the terms and conditions for the rental of real property.
True
False
20. Registration of a trademark in Canada is required for protection.
True
False
21. The transfer of possession of goods from one person to another for the purpose of offering the goods for sale is an example of bailment by consignment.
True
False
22 A net lease is one in which the tenant pays a fixed amount as rent on a regular basis
True
False
23. The Land Titles System is different than the Registry System because the Land Title System:
Does not affect the title
Does not confirm title
Guarantees title
Is a depository for documents?
24 Governments may limit the types of structures that can be built on real property.
True
False
25. The registry system confirms ownership of the real property.
True
False
26. Starting a sole proprietorship can be as simple as filing a form and paying a fee.
True
False
27. A limited partner is only responsible for the amount of their investment into the partnership.
True
False
28. A corporation is a separate legal entity distinct from its owners.
True
False
29. A fiduciary duty in partnership doesnotrequire which of the following?
Partners must act in their clients' best interest
Partners must disclose a conflict of interest
Partners must not compete with the partnership
Partners must take personal advantage of partnership information
30. Preferred shares have no right to vote but will receive dividends before common shareholders.
True
False
31, Shares represent a shareholders' ownership interest in a corporation.
True
False
32 One disadvantage for a sole proprietor is profits are taxed at their personal tax rate.
True
False
33 f a corporation sells shares to the general public, then it is a public corporation.
True
False
In which of the following relationship is a fiduciary duty owed?
Directors to corporation
Directors to employees
Directors to security holders
Directors to shareholders
Bottom of Form
34 If a corporation does not sell shares to the general public, then it is a public corporation.
True
False
35 Franchise is a contractual business arrangement where a franchisor grants a franchisee the right to operate a similar business.
True
False
36 A sole proprietorship is the simplest form of business formation.
True
False
37 Joint ventures are governed by applicable provincial legislation.
True
False
38 An equity joint venture is a separate legal entity to which the individual parties contribute capital.
True
False
39 Two or more businesses carrying on an activity for a specified period of time is a joint venture.
True
False
40 Those persons legally responsible for the execution of management of a corporation are the:
Directors
Employees
Officers
Shareholders
41 In an accounting limited liability partnership (LLP) the partnership is liable for the negligence of a partner in the performance of his or her professional duties.
True
False
42. You can become a partner without knowing it.
True
False
43. Partnerships are governed by federal legislation.
True
False
44 The franchisee is dependent upon the franchisor and treated like an employee.
True
False
45 In order for a director of a corporation to show that she can rely on the defence of due diligence, she must be knowledgeable of the prevailing environmental standards and must take clear action to prevent, report, review, and respond to danger.
True
False
46 A partnership is two or people carrying on business together with a view to sharing profits.
True
False
48 Which of the following isnota concern for a sole proprietor?
Complying with income tax regulations
Filing annual reports
Following government regulations
Meeting local zoning bylaws
49 Officers of a corporation have the same fiduciary duty as directors of a corporation.
True
False
50 A contractual joint venture is based on a written agreement between the parties.
True
False
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started