1. This is the highest law of the land.

a)Constitution

b)Rules and Regulations

c)Civil Code

2.It is a principle in common law which means a system of fairness.

a)Contracts

b)Equity

c)Supreme Court

3.What are the essential elements of a contract?

a)Consent, Capacity, Consideration, Offer & Acceptance, and Lawful purpose

b)Consent, Majority, Consideration, Offer & Acceptance, and Lawful purpose

c)Consent, Capacity, Agency, Offer & Acceptance, and Lawful purpose

4.This means meeting of the minds (consensus ad idem).

a)Injunction

b)Consent

c)Default

d)Consideration

5.The contractual relationship begins when there is:

a)Offer and Acceptance

b)Damages and Law suit

c)Consideration and Revocation

6.Gandalf has a court appointed Guardian and Trustee who manages his health and finances for him. Given this fact, it is safe to assume that Gandalf doesnothave legal capacity to enter into a contract.

True or False

7.Jimin is under 15 years old and really wants to work in the entertainment business. The talent agency acquires Jimin with his parents' consent. Theirs is an invalid contract since Jimin is still underage.

True of False

8.Where the court orders the erring party to do his obligations, e.g. to deliver a complete house as stipulated in a contract.

a)Damages

b)Specific Performance

c)Injunction

9.Where a court orders an erring party to pay for any injury caused to the innocent party, including the legal costs.

a)Damages

b)Specific Performance

c)Injunction

d)Corporations

10.A corporation, once duly incorporated, gains its own separate legal identity and has the right to enter into a contract, to own assets, and defend itself in a legal suit.

True or False

11.Granted by the monarchy creating a separate legal identity for a township or university.

a)Royal Charter

b)Articles of Incorporation

c)Special Act

12.This document constitutes your corporation and holds the major rules governing your company, such as the number of shares offered.

a)Bylaws

b)Letters Patent

c)Articles of Incorporation

13.What are the 3 ways in which you may organize your business (select all that apply)?

a)Mentorship

b)Sole Proprietorship

c)Jurisdiction

d)Partnership

e)Corporation

14.This type of business is the least regulated but assumes unlimited liability.

a)Sole Proprietorship

b)Partnership

c)Corporation

15.In this type of business, the owners elect directors who in turn hire managers who are in charge of day-to-day business operations.

a)Sole Proprietorship

b)Partnership

c)Corporation

16.In this type of business, the business owners pool their resources together, contribute talents and commit a specified amount of time in the management of their business.

a)Sole Proprietorship

b)Partnership

c)Corporation

17.Pat and Tim are contemplating on merging their businesses together. Pat allows Alan to discuss his company's profile with Tim. Later on, Alan and Tim comes to an agreement. Is Pat bound by the agreement?

a)Yes, because an Agency was created by Contract.

b)Yes, because an Agency was created by Ratification

c)Yes, because an Agency was created by Estoppel.

18.Alan manages to get a deal with Tim without Pat's knowledge. It turns out to be quite favorable for his company. So, Pat later on provides his approval.

a)An Agency is created by Necessity.

b)An Agency is created by Ratification.

c)An Agency is created by Estoppel.

19.Leonard and Sheldon work together asLimited Liability Partnersfor a law firm downtown. Sheldon is charged with grave negligence for forgetting the limitation date of filing a statement of claim on behalf of his client.

a)Leonard will be liable as well, as if he were Sheldon.

b)Leonard will not be liable at all for another lawyer's professional liability.

c)Both Sheldon and Leonard are equally liable under the "corporate veil"

20.Suppose Leonard is a Limited Partner with Sheldon as the General Partner. Can he represent Sheldon as his agent?

a)No, an Agency canonlybe created by contract.

b)No, as a Limited Partner can only advice and not manage.

c)Yes, as a Limited Partner can even have his surname attached to the firm's name.

21.Penny runs a taco stand by Main Street as the sole proprietor. One day, Raj makes a complaint that her tacos caused him extreme bowel discomfort. Turns out the meat has gone bad overnight.

a)Raj can claim damages against the owners of Main Street, but not directly to Penny.

b)Raj can claim damages, including on Penny's personal assets.

c)Raj can only claim on the assets owned by Penny's business.

22.Suppose Penny incorporates her business and designates her lawyer's office as the Registered Office for her company. Raj then files a statement of claim and delivers it to the Registered Office address via registered mail.

a)Penny can feign ignorance as she did not personally receive the claim.

b)Raj will still need to contact Penny in order to have it deemed as good service.

c)The service is deemed good so long as there is proof of delivery.

23.An employer exercises complete control and supervision over an Independent Contractor.

True or False

24.An employer may become vicariously liable for the acts and omissions of his employee.

True or False

25.An Employer is obligated to provide notice before termination of an employment contract, unless it was for just cause.

True or False

26.One-sided impositions in an Employment Contract are generally not binding.

True or False

27.Mr. Stark hires Thor and Loki as engineers for his new Stark Tower. Whilst working, Thor and Loki got into a heated argument. Loki pushes Thor out the window. Mr. Stark can immediately have Loki fired for just cause.

True or False

28.Suppose the Stark Company has an existing Collective Bargaining Agreement (CBA) that allows for redress of grievances. The employees then stage a picket in front of Stark Tower. Whilst doing so, Lokithrows a hand grenade onto the building. Will there be any consequences?

a)Picketing is allowed under your CBA, as it recognizes the employees' right to unionize. No one is therefore liable.

b)Mr. Stark is liable. As the Employer, he failed to maintain occupational health and safety conditions.

c)Loki is directly liable for endangering the lives of his co-workers and damaging the property of Mr. Stark. CBA typically only allows peaceful protests, rather than violent ones.

29.The government agency administering IP registrations.

a)Canadian Intellectual Property Office (CIPO)

b)Corporate Registry of Alberta

c)Corporations Canada

30.Products, processes or services that reduce waste (pollution).

a)Industrial Designs

b)Clean Technology

c)Integrated Circuit Topographies

31.Consists of all documentation that has been disclosed with the public about an invention before the filing date of a patent.

a)Patents

b)Public Domain

c)Prior art

32.As an owner in Fee Simple, you have the over all right to possess title, to make use of the land, and to transfer via sale or donation.

True or False

33.As a Life Tenant, you have the right to the use and enjoyment of the property. Your interest will then go to the remainderman after you pass away.

True or False

34.In a Leasehold, the Tenant may only possess the property until a certain period that may be stipulated by a Tenancy Agreement.

True or False

35.The mortgagor (debtor) still has the equitable right to redeem his property even if he was in default.

True or False

36.In an Expropriation proceeding, the government agency acquiring the land needs toonlyprovide notice of the proceedings to the private owner.

True or False

37.Before passing away, Anne wrote a Last Will & Testament stating, "I hereby bequeath unto my beloved sister, Agatha, my personal library for her use during her lifetime, after which, it shall be given to the Emily Bronte Centre, so that other girls may learn the joys of reading as well." What type of ownership is created?

a)Life Estate

b)Estate in Fee Simple

c)Leasehold

38.In the situation above, who will be the remainderman after Agatha passes away?

a)Anne

b)The girls

c)Emily Bronte Centre

39.Can the Emily Bronte Centre have Agatha evicted in order to allow the girls to fully use the library?

a)Yes, as it is the ultimate beneficiary.

b)No, as there is no girl who wants that.

c)No, as the life tenant has the right to use and enjoy the property within her lifetime.

40.Jane and Austen are theJointowners of a land. Austen declares that his interest over the land will pass on to his heirs (children).

a)Austen has no right to do so as in a Joint Tenancy, ownership will go to Jane should he die.

b)Jane can also make the same declaration.

c)Both Austen and Jane cannot make such a declaration as they are equally prescribed.

41.What are the rights of a consumer (select all that apply)?

a)The right to be informed

b)The right to fair treatment

c)The right to take action when treated unfairly

d)The right to protect your interests

42.Federal legislation that governs Manufacturer Responsibilities.

a)Canada Consumer Product Safety Act (CPSA)

b)Consumer Protection Act of Alberta

c)Consumer Protection Act of Ontario

43.This is a legal principle which means that the seller has no obligation to inform the buyer of anything negative about the good or product.

a)Caveat emptoror Buyer Beware

b)Force majeureor Act of God

c)Res ipsa loquitoror the thing speaks for itself

44.Rebecca is an Amazon reseller. She posted a product called "My Diamond" and copy-pasted the information from the product manufacturer's brochure. Sugar saw the post and bought one. Turns out the specifications of the product are not the same as received. What are Sugar's options?

a)She cannot claim against Rebecca as she had the responsibility to research more on the product before buying it [Caveat emptor].

b)As Rebecca was merely relying on the manufacturer's information, she cannot be assigned liability [Innocent Misrepresentation].

c)Even though Rebecca may be innocent, Sugar can still rescind the contract as the item received is not the same as promised [Breach of Condition].

45.What ifthe "My Diamond" product losses its functionality before the 1-year manufacturer's warranty has expired?

a)Sugar can have the contract rescinded as there is a breach of Express Warranty.

b)Sugar can have the contract rescinded as there is a breach of Express Condition.

c)Sugar can have the contract rescinded as there is a breach of Implied Consent.