Question 1(1 point)

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Which form of intellectual property does NOT require registration for its protection?

Question 1 options:

1)

trademark

2)

copyright

3)

patent

4)

industrial design

Question 2(1 point)

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Rhianna created a large metal sculpture of a loon that she sold to a shopping mall for display in the main shopping corridor of the mall. To her horror, the mall owners have turned the sculpture into an amusement ride for youngsters visiting the mall, by painting it a bright colour and adding footholds and a rocker to the bottom of the piece. Which of the following is correct?

Question 2 options:

1)

the mall has the right to do this because she sold the sculpture to them

2)

the mall has the right to do this because the copyright has expired

3)

the mall has the right to do this because the patent has expired

4)

the mall has the right to display her work of art, but the mall does not have the right to change her work

Question 3(1 point)

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The Krays are purchasing a home in a new subdivision and, like all the other homes in the subdivision, the property's title contains a prohibition from erecting a storage shed on the property. What is the name for this type of restriction?

Question 3 options:

1)

lien

2)

easement

3)

restrictive covenant

4)

option agreement

5)

mortgage

Question 4(1 point)

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Aaron and Janelle enjoyed years of experiences shared through their rewarding ownership of Crystal Lake Cottage Resort Inc. When Aaron died unexpectedly, the title automatically transferred to Janelle. What is the name given to the type of ownership interest enjoyed by Aaron and Janelle that allowed her to acquire ownership in this manner?

Question 4 options:

1)

co ownership

2)

tenancy in common

3)

joint tenancy

4)

fee simple

Question 5(1 point)

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The city has decided to green up its public transportation system by converting to light rail transit. Plans are underway to commence compensation negotiations with affected landowners to buy their properties. What is the legal name given to the type of authority that has been exercised in these circumstances?

Question 5 options:

1)

authority to regulate zoning

2)

authority of restrictive covenant

3)

authority to expropriate

4)

authority of easement of ownership

Question 6(2.5 points)

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Which of the following are correct with respect to real property and registration?

Question 6 options:

1)

If the seller's mortgage is not paid out when you buy a house, you don't have to worry because you didn't sign the mortgage. It doesn't apply to you and you don't have to pay it.

2)

A mortgage is registered on a document called a certificate of title

3)

The borrower is called the mortgagor

4)

Mortgages are private. They are not available to the public.

5)

You can search a public database by name, for example, if you wanted to determine what real estate a public figure owned in your city

Question 7(1 point)

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Question 7 options:

Sonya's condo is foreclosed. She has a high-ratio (CMHC insured) mortgage. She owes $420,000 on her mortgage and the condo is sold for $300,000 in a foreclosure sale. Calculate the shortfall in this situation. YOU MUST set out the amount owing in numbers, with no cents, for example as follows: 500,000

Question 8(2.5 points)

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Jason owns 100% of the common and preferred shares in Jason's Ventures Ltd. (JVL), which signed a car loan agreement with a finance company, then sold the car to Beth. The loan was protected by properly-registered specific security agreement, which creates a first charge on this property. JVL stops paying the loan. What can the car loan company do? Select all correct answers.

Question 8 options:

1)

Sue Jason for the amount owing on the loan

2)

Seize the car from Beth

3)

Sue JVL for the amount owing on the loan

4)

Sue Beth for the amount owing on the loan

5)

Sell the car

Question 9(1 point)

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What type of property is the recipe for coca-cola?

Question 9 options:

1)

copyright

2)

patent

3)

trademark

4)

industrial design

5)

confidential information