Why is it important for businesses to monitor government policy?

Question 1 options:

	It is the machinery that regulates government.
	It provides rulings that resolve existing disputes.
	It can be overwhelming and very technical.
	Rules and regulations are periodically revised.
	Governments willingly and promptly comply with requests from the public.

Question 2(1 point)

Why is constitutional law described as the "supreme law" of Canada?

Question 2 options:

	It cannot be overridden by the executive or legislative branch.
	It protects individual freedom.
	It places limits on the exercise of power by the branches of government.
	It contains laws that impact all legal disputes.

Question 3(1 point)

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What is the legal status of the office of prime minister of Canada?

Question 3 options:

	The office of prime minister is set out in theConstitution Act, 1867.
	The office of prime minister is an example of a constitutional convention.
	The office of prime minister is set out in theCanadian Charter of Rights and Freedoms.
	The office of prime minister does not really exist.

Question 4(1 point)

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Which of the following is an example of a function typically performed by cabinet?

Question 4 options:

	regulating property rights
	formulating policy
	approval of statutes
	providing independent overview of commercial disputes

Question 5(1 point)

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Why are provincial governments unable to pass criminal laws?

Question 5 options:

	Criminal laws can only be enacted jointly by the federal and provincial legislative branches of government.
	The doctrine of paramountcy dictates that the federal government law making power overrides provincially enacted laws.
	Criminal laws are part of the Constitution and cannot be modified by the legislative branch.
	Criminal law falls under federal jurisdiction.

Question 6(1 point)

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What is usually the first step for a business that is unable to cope with its financial obligations?

Question 6 options:

	an arrangement under the CCAA
	assignment into bankruptcy
	consumer proposal
	negotiated settlement

Question 7(1 point)

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Which of the following best describes the purpose of bankruptcy and insolvency law?

Question 7 options:

	to ensure that all stakeholders are treated fairly
	to deal with creditors individually
	a discharge for the unwillingness of creditors to pursue claims
	to wind up businesses without expensive proceedings

Question 8(1 point)

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What is a requirement in order to satisfy the definition of "insolvent" for the purposes of theBankruptcy and Insolvency Act?

Question 8 options:

	debts to multiple creditors
	a failed arrangement
	a failed proposal
	debts are greater than $1000

Question 9(1 point)

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At what point will title to goods pass to the buyer when the contract involves the sale of future or unascertained good?

Question 9 options:

	when the goods are unconditionally appropriated to the contract
	when the goods are accepted by the buyer
	when the goods come into existence
	when the goods are delivered

Question 10(1 point)

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ExoGreen Garden Centre Inc. will pay $2400 for the two tons of organic fertilizer it ordered for delivery in March. The fertilizer is to be packaged in 20 kilogram bags and then packed onto two separate one ton pallets for shipment. What rule under the sale of goods legislation will dictate when title to the goods passes to EcoGreen?

Question 10 options:

	Rule 5
	Rule 1
	Rule 2
	Rule 4
	Rule 1 and 2
	Rule 3

Question 11(1 point)

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GoodHealth Farms Inc. was sued by a customer, and the court has now ordered that the plaintiff is entitled to a reduction in the price initially agreed to in the contract. What is the most likely reason for the court's decision?

Question 11 options:

	breach of a condition expressed in a contract for the sale of goods
	breach of warranty under sale of goods legislation
	breach of a condition under the sale of goods legislation
	breach of an innominate term of a contract for sale of goods
	breach of an express term of the contract

Question 12(1 point)

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What is meant by the term "merchantable quality"?

Question 12 options:

	the goods are fit to be sold considering the price
	the value of good corresponds with their description
	a reasonable quality, considering the description of the goods
	fit for the purpose
	the value declared or known to the buyer at the time

Question 13(1 point)

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Which of the following would be essential to determining a remedy with respect to the breach of a term under the sale of goods legislation?

Question 13 options:

	disclosure or packaging
	the value declared by the declared by the seller
	product safety classification
	anticompetitive practices
	whether the term is classified as a warranty or a condition

Question 14(1 point)

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Which of the following strongly supported the creation of principles set out in a specialized branch of contract law intended to provide a measure of protection for the purchase of goods?

Question 14 options:

	historic legislation titled the Sale of Goods Act, enacted in England in 1893
	unfair results of the strict application of the doctrine of caveat emptor
	the civil code set of exceptions to the doctrine of caveat emptor
	to add certainty to the law of contract
	the need for modern law concerning the sale of goods and services

Question 15(1 point)

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Treats 'n More Bakery Inc. expects that bankruptcy proceedings will be commenced against it within the next month, and the owner has just transferred the title of its commercial ovens to his sister. How will the transaction be viewed by the bakery's creditor?

Question 15 options:

	as proof of the bakery's inability to operate as a going concern
	as an unfortunate event, because now these assets are no longer available to the creditors
	as an arm's length transaction that may be unwound by the courts
	as a non arm's length transaction that may be unwound by the courts

Question 16(1 point)

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What is the name given to the person appointed by creditors to act on their behalf and supervise the actions of the trustee in bankruptcy?

Question 16 options:

	superintendent
	auditor
	inspector
	manager
	creditor trustee

Question 17(1 point)

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What is the result if a Division I proposal is rejected?

Question 17 options:

	debtor may make an additional proposal
	debtor is required to seek an arrangement
	a meeting of the creditors
	debtor is released from bankruptcy
	deemed bankruptcy of the debtor

Question 18(1 point)

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What is the name for the process whereby a debtor voluntarily enters bankruptcy?

Question 18 options:

	a conveyance
	an assignment
	novation
	a facilitation
	insolvency

Question 19(1 point)

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Which term fills a similar role as a bond?

Question 19 options:

	convertible note
	mortgage
	preferred share
	debenture
	equity share

Question 20(1 point)

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ABC Inc. is issuing 10,000 new shares to raise money for its upcoming expansion. What is the name for this type of financing?

Question 20 options:

	conditional financing
	debt financing
	equity financing
	interim financing
	interim financing