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Question
(p. 172, 173) Which of the following is true of the laissez faire economic theories?
A. People in business were unable to limit or shift many of their economic risks by placing clauses in their contracts.
B. The courts were unwilling to interfere with people's private agreements or to do anything that might interfere with the country's growing industrialization.
C. These theories were never considered a part of the public policy in the 19th century.
D. People in business had to face a lot of restrictions while planning the kind of economy that increasing industrialization required.
Answer
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Related questions
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B. allows only the U.S. attorney general to sue for injunctive relief or the seizure of products to enforce various provisions of the act.
C. permits any private party to sue for an injunction to enforce any CPSC rule or order, if, at the time of the suit, the commission or the attorney general has begun an action based on the alleged violation.
D. allows those injured because of a knowing and willful violation of a CPSC rule or order to sue for damages if the amount in controversy exceeds $100,000.
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The Consumer Product Safety Commission's authority is applicable to ___.
A. firearms
B. drugs
C. cosmetics
D. lawn mowers
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The Holder in Due Course rule:
A. alters statutes of limitations or other state-created limitations on the consumer's enforcement of claims and defenses.
B. states that all defenses available to the purchaser against the seller can also be available against the holder in due course.
C. eliminates rights that the consumer may have as a matter of federal, state, or local law.
D. creates a warranty claim or defense where the product is sold "as is."
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The Equal Credit Opportunity Act:
A. is designed to protect consumers from unfair or inaccurate credit reporting.
B. requires online ads for free credit reports to disclose whether the consumer must buy credit monitoring or other products or services to get the report.
C. prohibits discrimination in credit transactions on grounds of sex, marital status, race, color, religion, national origin, and age.
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A. coinsurance clause
B. pro rata clause
C. exculpatory clause
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B. usually allows the insured to recover the difference between the limits stated in the policy and the fair market value of the property.
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A. the trust will automatically fail.
B. the court will direct the application of the property to some charitable purpose that falls within the settlor's general charitable intention.
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Where damage to leased property arises through no fault of the tenant, that tenant still has a duty to take interim steps in order to prevent further damage from the elements.
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D. is a draft drawn by a bank on another bank or payable at or through a bank.