Needed for Final Exam

1. A will is revocable only after the testator's death. 2. The testator generally must sign a will. 3. If a person dies without a will, all of their property automatically passes to the state in which that person lived most of their life. 4. A living trust is created by a grantor during their lifetime. 5. A testamentary trust is created by will and begins on the settlor's death. 6. If a person marries after executing a will that does not include the spouse, the spouse gets nothing when the person dies. 7. If a will setting up a testamentary trust is invalid, the trust is also invalid. 8. A constructive trust does not differ from an express trust. 1. Monopoly power is market power sufficient to control prices and exclude competition. 2. An exclusive-dealing contract is a contract under which competitors agree to divide up territories or customers. 3. Price discrimination occurs when a seller forbids a buyer from buying products from the seller's competitors. 4. An agreement between competitors to fix prices is a per se violation of antitrust law. 5. A merger between firms that compete with each other in the same market is not a violation of antitrust law. 6. A relevant product market consists of all products with identical attributes and products that are sufficient substitutes for each other. 7. An agreement that is inherently anticompetitive is illegal per se. 8. Under the rule of reason, conduct is unlawful if its anticompetitive effects outweigh its competitive benefits. 9. A unilateral refusal to deal cannot violate antitrust law. 1. All nations must give effect to the laws of all other nations. 2. Under the act of state doctrine, foreign nations are subject to the jurisdiction of U.S. courts. 3. Under the doctrine of sovereign immunity, foreign nations are subject to the jurisdiction of U.S. courts. 4. The Foreign Sovereign Immunities Act states the circumstances in which the United States can be sued in foreign courts. 5. A member of the World Trade Organization must usually grant other members normal-trade-relations status. 6. Congress cannot tax exports. 7. The foundation of international space law is the Convention on International Liability for Damage Caused by Space Objects. 8. Under a force majeure clause, a party may be excused from liability for nonperformance. 9. Under U.S. law, U.S. citizens, including private companies, can engage in the commercial exploration and exploitation of space resources. 10. Under a license, one party is allowed to use another's patented product. 1. Enabling legislation specifies the powers of an agency. 2. Federal courts are part of the executive branch of government. 3. Congress creates federal administrative agencies. 4. After an agency adjudication, the administrative law judge's order must be appealed to become final. 5. The Administrative Procedure Act provides for judicial review of most agency actions. 6. When a new regulation will have a significant impact on a substantial number of small entities, an analysis must be conducted to measure the costs imposed on small businesses. 7. State administrative agency operations prevail over federal agency actions. 8. An agency cannot conduct a search without a warrant. 9. Agency rules are not as legally binding as the laws that Congress enacts. 10. Courts generally defer (yield) to an agency's factual judgment on a subject within the agency's area of expertise. 1. A covenant of quiet enjoyment guarantees that a tenant will not be disturbed in their possession of leased property by the landlord or any third person. 2. If the covenant of quiet enjoyment is breached, the tenant can sue the landlord for damages. 3. Generally, a tenant must pay rent even if they move out, if the move is unjustified. 4. A constructive eviction occurs when the landlord wrongfully makes the tenant's use and enjoyment of the property exceedingly difficult or impossible. 5. A fixed-term tenancy is a lease for a specified period of time. 6. When a landlord sells leased premises to a third party, any existing leases terminate automatically. 7. When a tenant assigns a lease to a third party, the tenant's obligations under the lease terminate automatically. 8. A landlord who leases residential property must deliver the premises in a condition that is safe and suitable for human habitation