Question 18 (1 point) ABC Inc. is issuing 10 000 new shares to raise money for its upcoming expansion. What is the name for this type of financing? Interim financing Conditional financing Equity financing Debt financing Question 19 (1 point) Martha's lawyer is not satisfied with the court's decision, so he is urging her not to accept it. What step in the litigation process is Martha's lawyer recommending she take? Olitigation settlement appeal O adjudication Question 20 (1 point) Which of the following statements is correct with respect to the Partnership Ach The Partnership Act always overrides any provisions contrary to it set out by the partners in the partnership agreement. The Partnership Act is enacted by the federal government and creates a uniform and cohesive system of partnership law for all of Canada. When in conflict, the terms of the federal Partnership Act override the provincial partnership acts. The Partnership Act sets out provisions that will govern the relations between the partners unless those partners have agreed otherwise, The Partnership Act states clearly that a partnership is only created by specific agreement between the partners to that effect. Question 22 (1 point) Sarafal was disappointed to learn that she would be unable to plant a hedge along the front borders of her condominium townhouse property. In this instance, what is the ability to place conditions on ownership most strongly influenced by? O zoning regulations O a restrictive covenant O planning schemes an encroachment agreement Question 23 (1 point) Donelle agreed to rent her cottage to Juan for the first two weeks of June. Juan paid Donelle the rent due on May 29 by certified cheque. On the last day in May, a forest fire burned the cottage to the ground. What is the role of the doctrine of frustration with respect to the status of the contract? It applies because Donelle has breached the contract It is not applicable; performance can be postponed, It is not applicable; the settled amount has been paid It applies, as performance is no longer practical Question 25 (1 point) Which of the following is the proper definition of a partnership as set out in the Partnership Ach? O Partnership exists where two or more persons carry on business in common with a view to profit. A partnership is created where a corporation with shareholders is registered with the federal government O A partnership exists only where two or more people enter into a written agreement to be partners. A partnership is only created where the partners actually share the profits from a business. A partnership exists where any business is carried on with a view toward profits. Question 26 (1 point) Ruby Fashions Ltd. terminated its long-term agency relationship with the Fashion Forward Agency. Fashion Forward had negotiated purchase contracts with retail outlets on behalf of Ruby for several years. What advice would you give Ruby at this time? that outsiders have an obligation to prove whether or not there is an ongoing agency relationship between Ruby and Fashion Forward that Fashion Forward can no longer bind Garnett to contracts that Fashion Forward has the onus to inform outsiders that it is no longer Ruby's agent that Ruby has the onus to inform outsiders that Fashion Forward is no longer its agent Question 27 (1 point) Davey Jones Law Offices acts as legal counsel to a large commercial client. The client has instructed Mr. Jones to prepare and file a statement of claim naming a competitor as the opposing party in the lawsuit. What title is given to Davey Jones's client in the statement of claim? O plaintiff defendant O petitioner respondent Question 28 (1 point) Which of the following is an implication of the utmost good nature of insurance contracts? the insured is a fiduciary to the insurer the insurer may subrogate the insurer is a fiduciary to the insured the insured has a duty to disc Question 18 (1 point) ABC Inc. is issuing 10 000 new shares to raise money for its upcoming expansion. What is the name for this type of financing? Interim financing Conditional financing Equity financing Debt financing Question 19 (1 point) Martha's lawyer is not satisfied with the court's decision, so he is urging her not to accept it. What step in the litigation process is Martha's lawyer recommending she take? litigation settlement appeal adjudication Question 20 (1 point) Which of the following statements is correct with respect to the Partnership Act? The Partnership Act always overrides any provisions contrary to it set out by the partners in the partnership agreement. HD The Partnership Act is enacted by the federal government and creates a uniform and cohesive system of partnership law for all of Canada. When in conflict, the terms of the federal Partnership Act override the provincial partnership acts. The Partnership Act sets out provisions that will govern the relations between the partners unless those partners have agreed otherwise. The Partnership Act states clearly that a partnership is only created by specific agreement between the partners to that effect. Question 22 (1 point) Sarafal was disappointed to learn that she would be unable to plant a hedge along the front borders of her condominium townhouse property. In this instance, what is the ability to place conditions on ownership most strongly influenced by? O zoning regulations a restrictive covenant planning schemes an encroachment agreement Question 23 (1 point) Donelle agreed to rent her cottage to Juan for the first two weeks of June. Juan paid Donelle the rent due on May 29 by certified cheque. On the last day in May, a forest fire burned the cottage to the ground. What is the role of the doctrine of frustration with respect to the status of the contract? It applies because Donelle has breached the contract It is not applicable; performance can be postponed. It is not applicable; the settled amount has been paid. It applies, as performance is no longer practical Question 25 (1 point) Which of the following is the proper definition of a partnership as set out in the Partnership Act? NUD Partnership exists where two or more persons carry on business in common with a view to profit C A partnership is created where a corporation with shareholders is registered with the federal government C A partnership exists only where two or more people enter into a written agreement to be partners. A partnership is only created where the partners actually share the profits from a business. A partnership exists where any business is carried on with a view toward profits. Question 26 (1 point) Ruby Fashions Ltd. terminated its long-term agency relationship with the Fashion Forward Agency. Fashion Forward had negotiated purchase contracts with retail outlets on behalf of Ruby for several years. What advice would you give Ruby at this time? that outsiders have an obligation to prove whether or not there is an ongoing agency relationship between Ruby and Fashion Forward that Fashion Forward can no longer bind Garnett to contracts that Fashion Forward has the onus to inform outsiders that it is no longer Ruby's agent that Ruby has the onus to inform outsiders that Fashion Forward is no longer its agent Question 27 (1 point) Davey Jones Law Offices acts as legal counsel to a large commercial client. The client has instructed Mr. Jones to prepare and file a statement of claim naming a competitor as the opposing party in the lawsuit. What title is given to Davey Jones's client in the statement of claim? plaintiff defendant petitioner respondent Question 28 (1 point) Which of the following is an implication of the utmost good faith nature of insurance contracts? the insured is a fiduciary to the insurer the insurer may subrogate the insurer is a fiduciary to the insured the insured has a duty to disclose Question 29 (1 point) What is the purpose of a deductible in the context of an insurance policy? Certain types of losses are excluded from coverage. The insurer is entitled to deduct defence costs from its payout to the insured. Risk of loss is shared between the insurer and insured. The insurer is entitled to deduct defence costs from its payout to the insured, Question 30 (1 point) What is the legal term given to a provision in a contract whereby the parties agree in advance to the amount to be paid in the event of a contract breach? an exemption clause U a liquidated damages clause an entire agreement clause an exemption clause Question 32 (1 point) The Personal Property Security Act (PPSA) fulfills a number of purposes. Which of the following describes one of these purposes? 6) Prohibiting misleading statements in credit applications Determining priority among creditors Protecting borrowers from exorbitant interest rates Protection of the public from unscrupulous lenders Question 34 (1 point) If a customer slips and falls on the ice in a store's parking lot, the store may be liable for the tort of: O assault negligence nuisance aggravated assault trespass Question 35 (1 point) What is the combined legal effect of attachment and registration of a security agreement at the Personal Property Security Registry? Seizure of the debtor's property Perfection of the creditor's security interest Guarantee of priority over all other creditors Credit insurance becomes available Question 36 (1 point) Which of the following is least likely to qualify for intellectual property protection? The restaurant sells only organic food O A restaurant's advertising jingle U A unique recipe used by a restaurant The unique name of a restaurant Question 37 (1 point) What distinguishes an undivided one-half interest held in a tenancy in common from a one-half interest held in a joint tenancy with respect to the co-ownership of real estate? Each owns an undivided co-ownership of each portion Each owns an undivided co-ownership of the whole Each owns an undivided interest in ownership of the whole Each owns an undivided interest in ownership of their portion. Question 38 (1 point) Although he was not really an agent and had no authority to do so, Gordon thought his employer would be delighted when he purchased a truck "on behalf of his employer. Although the price was very reasonable, his employer now refuses to ratify the contract. Which statement best describes the parties liability under the contract? The employer is solely liable as an undisclosed principal. Gordon and his employer are bound by the contract The employer is solely liable under the doctrine of estoppel. Gordon is bound by the contract. Question 39 (1 point) Which of the following is a distinguishing characteristic of an unsecured debt? The financing arrangements are formal and deliberate ) loan must be advanced within a designated period The absence of a security interest in the debtor's assets The incidental feature of routineness