true or false

1.T / F Partners receive a regular salary

2.T / F All copyrighted material must be registered

3.T / F In a purchase and sale agreement only the vendor can determine what may be included in the agreement

4.T / F A sole proprietorship is a corporation with one shareholder

5.T / F An agent must be professionally registered in order to act on behalf of a principal

6.T / F Political factors may be taken into account in governing intellectual property rights

7.T / F A partner in an LLP can have their name on the name of the partnership

8.T / F Xi Jing is a driver for Uber. He crashes his car injuring a passenger during the course of his ordinary job. Will Uber be held liable if they show that Jing is in fact an independent contractor?

9.T / F A partnership can hire employees on terms that limit the liability of the partners for the employee's actions

10.T / FI can take my pet cobra Karl to work for take your pets to work day

11.T / F A wall mounting for a flat screen television could be considered a fixture

12.T / F Fiduciary duties exist only where it is made explicit in a contract

13.T / F A life estate allows the holder to make modifications for the betterment of the property

14.T / F A patent is an allowable tool to ensure others cannot enter into a market

15.T / FAn ownership in land is known as a fee advanced

the correct answer:

1.The early modern American industrial economy can be best characterized by?

a.A product of the revenue generated by wheat products

b.International trade agreements

c.Industrial espionage

d.Domestic innovation

2.Which of the following would not be considered a duty of a director or manager?

a.To declare a dividend even if the company is insolvent

b.Responsible for certain taxes and deductions

c.Responsible for certain unpaid wages

d.Responsible for environmental damage

3.An individual might have a claim for wrongful dismissal under which of the following circumstances?

a.I continually fail at performing professional development activities

b.I regularly ignore customers because I am too busy flirting with the restaurant's bartender despite repeated complaints about this matter

c.I refuse to shave my sideburns off despite no complaints other than that of my manager

d.I go out during my break to smoke marijuana with a customer

4.Which of the following would not be considered a security?

a.A licensed insurance policy

b.A certificate of interest in an oil, natural gas or mining lease

c.Any commodity futures contract or any commodity futures option that is not traded on a commodity futures exchange recognized under the Competition Act

d.Stocks or bonds

5.Which of the following would be right to access another's land?

a.A courtesy pass to provide mail pick-up

b.A right of way

c.An open covenant

d.A restrictive covenant

6.Which of the following could be considered patentable material?

a.My homemade potato salad

b.A method of testing experimental medical procedures on humans

c.How I shelve my books

d.None of the above

7.Which of the following is most correct respecting corporations?

a.Directors report to shareholders

b.Officers report to managers

c.Shareholders respond to the creators of the corporation

d.Managers report to partners

8.Which of the following is true of confidential business information?

a.Information that is widely known in the industry can be protected through intellectual property rights

b.An invention must be entirely original in order to be considered eligible for protection under intellectual property law

c.Registration of intellectual property rights is enforced on a province by province basis

d.An employee cannot rely on the information once they leave their position of employment

9.In a partnership what would not be considered a right of a partner?

a.To avoid liabilities for the actions of their partners

b.To dissolve the partnership without notice if the business relationship breaks down

c.To buy the shares of other partners at a negotiated value

d.To deny the existence of a partnership agreement

10.What would be considered a duty to accommodate?

a.The obligation to assist unionized workers

b.The duty to provide housing for immigrant workers

c.The duty to assist employees with disabilities

d.The duty to provide 6 months unemployment payments if the employee is dismissed for cause

11.Which of the following would NOT apply to possession of property?

a.Title to property must be lawfully acquired

b.Possession is considered 9/10ths of the law

c.A prior owner who acquired property through illegal means does not have any prior claim to property

d.A person who is aware of a prior owner may take possession but must protect it in the best interest of the known owner

12.Which of the following would NOT be considered moral copyright?

a.The creator of the copyright does not need to be recognized if they sell the copyright

b.The creator of the work can prevent their work from being used for a cause

c.The copyright owner must not always maintain full vigilance over the copyright

d.All of the above

13.Which of the following would NOT be considered a benefit of union membership?

a.It comes with a cost with respect to union dues

b.It will not provide protection to all members

c.You may opt out of union membership in all workplaces

d.The union helps negotiate some benefits that employees might not otherwise obtain

14.Which of the following activities is a corporation PREVENTED (by statutes or by-laws) from carrying out?

a.Creating other corporations

b.Buying or selling other business organizations at a price that the corporation deems fit by buying up shares in the other organization

c.Forcing minority shareholders to accept a merger at an agreed upon price by the board of directors

d.All of the above

15.Which of the following might lead to a claim under the Competition Act?

a.Three companies dominate a market leading to higher prices

b.4 companies compete in a regional market with the result that prices are similar

c.A company puts out a request for proposals but has already arranged an agreement with one company that it will get the contract in exchange for on-going business

d.Tariffs prevent foreign goods from entering the country at competitive prices