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Question
Which of the following is included in the finance charge?
A. Application fees charged to all applicants for credit.
B. Charges for unanticipated late payments, exceeding a credit limit, or delinquency.
C. Charges imposed by a financial institution for paying items that overdraw an account.
D. Fees charged for participation in a credit plan.
E. Fees for appraisals.
Answer
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Related questions
Q:
Which of the following is true in case an employee carries a respondeat superior insurance?
A. The employer can sue the employee for reimbursements.
B. The employee will be held liable for the employer's torts, while working with the employer.
C. The insurer who has paid the respondeat superior claim will sue the employee who caused the claim.
D. The employee is entitled to receive respondeat superior claims from the employer.
E. An employer will be held liable for an employee's tortious acts whether or not they are in the scope of employment.
Q:
Leslie is on his way to meet his girlfriend, when he meets with a car accident. Leslie's over speeding causes the accident and injures two other people involved in it. Which of the following is true of this situation as per the doctrine of respondeat superior?
A. Leslie was acting within the scope of employment; hence his employer is liable for Leslie's tort.
B. Since this was an accident, no one will be held liable.
C. Leslie was on a frolic and detour when the accident occurred; hence the employer is not liable for the accident.
D. Since the accident was an intentional tort by Leslie, the employer will not be held liable.
E. Leslie's employer will be held liable for all of Leslie's actions, but can sue Leslie for a reimbursement.
Q:
Which of the following is true of the doctrine of respondeat superior?
A. An employee may be held liable under tort law for the torts committed by his/her employer, while the employee was working at the organization.
B. An employer will be held liable for the actions of an employee who is on a frolic and detour.
C. An employee working with an organization and having committed a tort can be held liable for even though he/she did not intend the harm.
D. Torts committed by an employee working for an organization will result in the employee and the employer being held liable under tort law.
E. An organization is not held liable under tort law for the torts committed by its employees during their work tenure at the organization.
Q:
_____ occurs when a principal voluntarily decides to honor an agreement, which otherwise would not be binding due to an agent's lack of authority.
A. Novation
B. Ratification
C. Negotiation
D. Release
E. Waiver
Q:
Which of the following is true according to the Uniform Electronic Transactions Act?
A. A principal can be bound by a contract created by a cyber agent, only if the principal is aware of the contract.
B. A principal can be bound by a contract created by a cyber agent, even if the principal is unaware of the contract.
C. A principal can be bound by a contract created by a cyber agent, only if the principal is aware of the contract and manifests assent to the contract.
D. A principal can be bound by a contract created by a cyber agent, even if the principal is unaware of the creation of a cyber agent.
E. A principal can be bound by a contract created by a cyber agent, only if the action of one electronic agent is involved.
Q:
Ian owes $5000 to Shirley, which is payable in five instalments at an interest. However, after two instalments, Ian offers to pay Shirley the entire debt to avoid paying the interest. Which of the following will take place if Shirley announces that Ian does not have to pay the debt in further instalments?
A. Waiver
B. Negotiation
C. Release
D. Arbitration
E. Rescission
Q:
If performance of a party to a contract only slightly deviates from contract requirements, this will be considered:
A. complete performance.
B. substantial performance.
C. breach of contract.
D. waiver of performance.
E. divisibility of performance
Q:
Finishing the construction of a home two days after the contract called for completion (no injury occurs) most likely will be considered:
A. significant performance.
B. implied performance.
C. breach of contract.
D. substantial performance.
E. material breach.
Q:
An offer to perform one's required duties under a contract is called a:
A. conditional performance.
B. qualified performance.
C. substantial performance.
D. tender of performance.
E. complete performance.
Q:
If a contract contains a condition subsequent it means that:
A. performance must be completely done according to contract specifications or the contract is breached.
B. performance will be excused upon the happening of some specified future event.
C. impossibility of performance will not be an acceptable excuse for nonperformance.
D. performance will not be excused due to an unexpected event in the future.
E. performance will be due upon the happening of some specified future event.
Q:
If a word of a term in a written contract has _____, particular to the industry to which the parties belong, the court will give the term or word that meaning.
A. ambiguous terms
B. a handwritten term
C. business banter
D. a trade usage
E. common words
Q:
Ethical formalists maintain that:
A. harm to an individual is allowable as long as it serves a greater good.
B. values are situational and change based on circumstance.
C. harm to individual rights is never justified by an increase in organizational or common good.
D. the good of the many always supersedes the good of the few.
E. right and wrong are unknowable.
Q:
Which is the best definition of "the good", as defined by philosophers?
A. Increasing profit margins on a quarterly basis.
B. The moral goals and objectives we choose to pursue.
C. The acquisition of all of the things necessary for having a good life.
D. Whatever makes an individual happy.
E. Eating meat and consuming alcohol.
Q:
Which of the following provides the best definition of ethics?
A. Ethics is a formal system for evaluating who profits in a business transaction.
B. Ethics is merely a different term for the laws and regulations created by a government.
C. Ethics is merely another word for morality, which is only involved in what is right and what is wrong.
D. Ethics is a simplified term given to the momentary decisions we all make regarding which answer will lead each person to the most personally successful solution.
E. Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions.
Q:
Those who argue that a system of property ownership is ethically moral do so by appealing to strict formalism, arguing that the morality of property rights should be determined on an individual basis.
Q:
The legal requirement of honoring confidentiality contains both formalist and consequentialist ethical values.
Q:
Looking into the initial intentions of parties to a business contract evidences consequentialism.
Q:
Businesses working in the international arena find social contract theory especially valuable because it promotes the idea that all parties deserve an equal opportunity for achievement, regardless of the country or system of laws they come from.
Q:
Economist Adam Smith believed that humans could not look beyond self-interest.
Q:
Explain conflicts of law.
Q:
What is constitutional relativity? How does it affect stare decisis?
Q:
What are opinions, precedents and citations?
Q:
Illustrate the concept of substantive and procedural law with examples.
Q:
Compare natural law and positive law in jurisprudence.
Q:
In a broad general sense, _____ includes the legal property relations that large businesses have with each other, with their customers, and with society.
A. corporate governance
B. specific performance
C. stare decisis
D. tort law
E. strict liability
Q:
A(n) _____ is a civil wrong other than a breach of contract.
A. ordinance
B. tort
C. sanction
D. remedy
E. dicta
Q:
The right of an individual to take another person's resources (especially money) because that person has failed to meet the requirements of the law (e.g., the breach of a contract) is known as a(n) _____.
A. sanction
B. amendment
C. remedy
D. dicta
E. holding
Q:
_____ stands for the idea that courts should interpret the Constitution only according to the intentions of those who wrote it.
A. Constitutional relativity
B. Originalism
C. Legal realism
D. Dicta
E. Conflicts of law
Q:
Which of the following are judicial decisions that interpret the relevant constitutional, legislative, and regulatory laws?
A. Citations
B. Opinions
C. Case law
D. Dicta
E. Statutes
Q:
According to _____, judges in current cases follow whenever possible the interpretation of law determined by judges in prior cases.
A. stare decisis.
B. constitutional realism.
C. statutory construction.
D. constitutional relativism.
E. legal realism.