Which of the following is a false statement?

A.

The U.S. Constitution expressly states that Congress has the power to regulate interstate commerce.B.When state regulations in the U.S. impinge on interstate commerce, commerce must yield to the state regulations, no matter how heavy the burden placed on the commerce since states possess sovereignty within their borders.

C.When there is a direct conflict between a federal and state law in the U.S., the state law is rendered invalid.

D.Some federal constitution protections in the U.S. apply to business entities such as corporations.

Products Liability law can be based on:

A.Negligence and fraud

B.Warranty law

C.Strict liability

D.All of the Above.

A contract clause conditioned on the occurrence of an event may best be an example of

A.

An express conditionB.A condition precedent

C.An implied condition

D.A covenant

Which of the following is a false statement?

A.

An agent who has held herself out as having higher-than-customary knowledge and skills will be held to that higher standard when doing the principal's business.B.The "reasonable person" standard typically applies to the degree of care required of an agent when conducting the principal's business.

C.Most information that comes to the attention of an agent is assumed to be known by her principal.

D.Duties of loyalty and accountability are not duties that the agent owes to his or her principal since the agent is not a fiduciary like a partner.