Business Organizations
Commercial Paper
Transfer of Commercial Paper
Landlord-Tenant Relations
Intellectual Property
100
A business owned by one person with total liability exposure.
What is a sole proprietorship?
100
Commercial paper dated previously.
What is antedated?
100
The person to whom a negotiable instrument is transferred.
Who is the indorsee?
100
An action that denies the tenant the use of the premsies.
What is eviction?
100
A valid, government-granted protection awarded to inventors that gives the patent-holder the exclusive right to manufacture, use, and sell the invention.
What is patent?
200
Liability exposure in which an owner of a business is not personally liable for all the debts and obligations of the business.
What is limited liability?
200
In a promissory note, the person making the promise.
What is the maker?
200
An indorsement with a signature to which words have been added restricting further indorsement of the instrument.
What is a restrictive indorsement? "For Deposit Only" as an example.
200
An agreement made by either a landlord or a tenant to do certain things.
What is a covenant?
200
An agreement in which the seller of a business agrees not to begin or operate a similar business within a certain geographic area, or within a specified period of time.
What is an agreement not to compete?
300
The document, filed with the Secretary of State, that creates a corporation.
What is Articles of Incorporation?
300
A check issued by a cashier or other designated officer of a bank and drawn against bank funds.
What is a cashier's check?
300
A defense against payment of commercial paper that may be used against any party except a holder in due course.
What is a personal defense?
300
When a tenant transfers her entire interest in the entire premises for the remaining length of the term of the lease.
What is an assignment of lease?
300
Copying another's literary, creative, or artistic works without permission.
What is infringement?
400
Legal exposure such that a person with a claim against a general partnership can elect to sue either all of the partners together or any one of the partners individually.
What is joint and several liability?
400
The person who creates a check or draft.
What is the drawer?
400
A deliberate change or alteration of an important element in a written contract that affects the rights or obligations of the parties.
What is a material alteration?
400
A form of tenancy (though not really a tenancy at all) that exists only when a tenant wrongfully extends his or her tenancy beyond the term agreed upon.
What is a tenancy at sufferance?
400
Any word, name, symbol, or device or combination thereof adopted and used by a manufacturer or merchant to identify his goods and distinguish them from goods manufacturered or sold by others.
What is a trademark?
500
A legal and ethical obligation placed upon a director to act diligently and prudently in conducting the affairs of the corporation.
What is duty of care?
500
Three of the five essentials for negotiability of commercial paper.
What is 1) must be in writing and signed by maker/drawer, 2) must contain an unconditional promise or order to pay a definite sum, 3) must be payable on demand or at a definite time, 4) must be payable to order, to bearer, or to cash, 5) a draft/check must name or indicate the drawee with reasonable certainty. (3/5 required)
500
When a negotiable instrument is not acceptance when presented for acceptance.
What is dishonored?
500
The right to use the lease premises without unreasonable interferences from the landlord or third parties.
What is quiet enjoyment?
500
Limited copying allowed when the copyrighted material is copied without permission for use in connection with criticism, news reporting, research, education, or parody.
What is fair use?
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