The U.S. Constitution specifies that ______ has exclusive power to establish “uniform laws on the subject of bankruptcies throughout the United States.”

Under federal bankruptcy law, all is considered exempt property except

If a person owes $10,000 on a credit card that has a 36% annual interest rate, and they make only a minimum payment each month equal to the interest charge, how much is the monthly payment?

The federal Fair Credit Billing Act provides that creditors must mail bills at least _____ days before the due date, must acknowledge billing inquiries within _____ days and must settle any complaints within _____ days.

The Federal Fair Debt Collection Practices Act prevents the following practices except

A claim against real property given to a builder, carpenter, plumber, or others involved in construction or repair of real property is

A(n) ______ party who agrees to be secondarily liable for the obligations of the principal debtor.

A ______ is a brief, written notice of the existence of a security interest in the identified property.

A termination statement in a consumer goods secured transaction must be filed within _____ days of the payoff or within _____ days of a written request.

If a consumer has paid ______ percent or more of the debt before having the collateral repossessed, the creditor may not keep the collateral in satisfaction of the debt unless the consumer agrees in writing.

A legal filing that makes subsequent creditors aware of a lien against potential collateral is called

A ______ is a claim against specified property of the debtor, such as interest being created in favor of the creditor to assure payment of the debt.

Rights to money, goods, or promises to perform specified contracts is called

A ______ is a transfer of possession of property to a creditor to insure payment of debt.

A document filed to provide notice of an established security interest to other potential creditors is

If, upon receiving an account statement, an error of overbilling is detected by a consumer in an EFT, it must be reported within _____ days from the date the statement was sent

Which of the following would not discharge an instrument?

A holder who takes commercial paper in good faith without knowledge of any defect or overdue status and who gives value for it is known as

In one day, Barbara bought a new couch and paid by check, bought lunch and paid with her credit card, took out cash from an ATM at her bank, and transferred funds by phone from her savings to checking account. Which of these transactions are EFTs?

______ is commercial paper legally collectible by the party in possession.

Status of paper that is to be paid on presentment or at sight is called

Indorsement consisting only of the signature of the indorser is a ______ indorsement.

A ______ indorsement that eliminates the indorser’s secondary liability to pay if the primarily liable party does not.

Someone who joins another in signing as a maker, drawer, acceptor, or indorser of an instrument in order to bolster the creditworthiness of the latter party is known as

_____ are the only two types of indorsements that determine how the instrument is to be negotiated are:

An instrument that is payable on presentment is termed a ______ instrument.

A promissory note is physically issued on June 6 of this year. Which of the following dates, if actually entered on the face of the instrument as the date of issue, would make it antedated?

Which of the following wordings would not result in the paper being payable to the party in possession of it?

If the indorsement on a negotiable instrument reads: "pay to the order of Michelle Holley" it is properly termed ______ paper.

An unconditional written promise or order to pay money is defined as

A ______ is a draft drawn by a bank on funds it has on deposit with another bank.

Written instrument acknowledging a bank’s receipt of money and promising to repay it at a definite future time is called

The type of check that requires the owner to sign twice on its face is a

Unconditional written orders or promises to pay money is collectively known as

A(n) ______ is a form of business organization that offers limited liability only to the consequences of conduct involving torts.

Taxation of a corporation as an entity based on its earnings and then of the shareholders on corporate dividends is called

Which of the following records do not have to be kept in the limited partnership’s designated office within the certifying state?

What is the maximum number of stockholders in a subchapter S corporation?

Individuals elected by the shareholders to be responsible for the general guidance of the corporation is known as

Rules that protect management from being personally held criminally or civilly liable for a business decision made within the scope of power and authority granted by the corporate charter and applicable laws are called

_____ are rules for the internal organization and management of a corporation.

Which of the following may result in a corporate dissolution?

Corporate debentures are

A legal device that allows the current stockholders of a corporation to maintain their percentage of ownership even when new stock offerings occur is called

Which form of business is most likely to attract large sums of capital?

Which of the following is not required to be in the articles of incorporation?

A partner who is not publicly known but is actively managing is known as ______ partner.

A ______ partner is one whose potential liability is restricted to their investment in the partnership.

Partner who is publicly known but not actively managing is known as a ______ partner.

Which of the following is not a duty of a partner?

Assumption of risk, contributory negligence, and negligence of a co-worker is called

Acting for the benefit of the employer is generally referred to as

Which of the following is not a common law defense to a negligence suit against an employer?

Which of the following is a preventative means of dealing with the potential for employee injuries?

All the people who work for an employer that has been charged with employment discrimination is known as

An employer’s defense that actions were meant to advance the business rather than to create unjustified discrimination is called

Which of the following are grounds for illegal discrimination?

To win a case where the discrimination is admitted, the employee need only prove that they were denied employment because of membership in a:

In a collective bargaining session, which of the following is an employer not required to bargain over?

A process by which a union ceases to be the exclusive bargaining agent for employees is

______ is an attempt by a neutral third party to achieve a compromise between disputing parties.

Employment contracts in which employees agree not to join a union as a condition of employment is known as

______ is the process whereby the union and the employer negotiate a contract of employment that binds both sides.

A ______ occurs when an employer temporarily closes down operations to induce the workers and their representatives to alter their position on an issue.

Who determines the membership in the bargaining unit?

Who conducts the certification elections?

What percentage of workers in a union must petition the National Labor Relations Board to get it to conduct a decertification election?

The obligation to look out for the best interests of the employer is called duty of

_____ is known as the obligation to obey the reasonable orders of the employer.

Which of the following is not a duty owed by the employer to the employee?

Any party who hires an independent contractor may be liable for the independent contractor’s torts if the work if it

Which of the following is not a duty owed by employees to employers?

Federal law is likely to supply which of the following terms in employment contracts?

Requirements that an agent act in the principal’s best interests is known as

A(n) _____ is a person who authorizes another to enter into legal relationships on their behalf.

Which of the following duties would be violated by the agent’s commingling of funds?

If an agent acts outside the agent’s authority, then

A power of attorney generally contains a grant of what type of authority?

A trust created by the will of a deceased settlor is known as

Someone who is being unjustly enriched because of property he or she is holding may be required to transfer the property to another because of the enforcement of a(n) _____ trust.

The typical time allowed for all creditors of the estate to file a claim against it is

Which of the following individuals would be eligible for survivor’s insurance upon the death of the insured?

Which of the following types of social insurance provides health insurance and hospital insurance for people age 65 and older?

Which of the following is a common exclusion in a property and casualty policy?

Which of the following is not covered in the standard fire policy?

A(n) _____ clause extends auto insurance coverage to members of the insured’s household.

Which of the following types of insurance covers loss of or damage to property while it is being transported?

Power of the government to take private property for public use upon payment of the fair market price is known as

A(n) _____ agreement that grants certain rights in the subject property to the tenant.

Which of the following must be in writing to be enforceable by a court?

Which of the following does not have the right of possession?

Which of the following is the most common estate?

The owner of land owes which of the following duties to a trespasser?

A party who accepts possession and control of another’s personal property is called a

A(n) ____ is the type of bailment formed when a bailor leaves personal property with a hotelkeeper or a common carrier.

Fee for delay in loading or in unloading goods shipped by a common carrier is known as

A gift of an engagement ring would typically be a

If you were sailing off the coast of California and left a fishing line streaming behind the boat for three hours, and then you hooked a tuna and reeled it in, under which legal process would you become the owner of the fish?

The elements of a lottery are _____ chance, and consideration.