1) The concept of flexibility in the law is best illustrated by:

2) The school of jurisprudence that believes that free market forces should determine the outcome to lawsuits is:

3) Which of the following is true about litigating commercial disputes?

4) A ___________ is a court appointed party who conducts a private trial and renders a judgement.

5) ________ is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another.

6) Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute?

7) The Double Diamond Dude Ranch is located in Montana and maintains a web site on the Internet Before the Internet, the ranch relied exclusively on word-of-mouth advertising The web site simply provides some general information and lists the ranch's phone number for reservations, but reservations cannot be made online The ranch has no other connections or presence outside of Montana Bob lives in Ohio and learned of the ranch through its web site Bob then spent a week as a paying guest at the ranch, but was injured when he fell off a horse Can Bob sue the dude ranch in Ohio state court?

8) What is the result of the "effects on interstate commerce" test?

9) If there is an area of interstate commerce that the federal government has not chosen to regulate, the states can:

10) The legal effect of the presence of a superceding event is that:

11) If a plaintiff voluntarily enters into or participates into a risk activity that results in injury, what is the most likely defense that he or she may use to a defendant's claim that the plaintiff assumed the risk?

12) The tort of palming off involves:

13) Based on the law of product liability, which of the following is correct?

14) Sean has a 6 year old car which he bought 2 years ago from its original owner Eight months ago he received a recall notice about a safety problem with the brakes He never responded to the notice Yesterday Sean was driving when the brakes failed and caused him to strike and injure a pedestrian Which of the following is true in lawsuits against the car's manufacturer?

15) Little Bobby, five years old, finds his brothers Extendo Sword, which is a toy sword about a foot long which spring out to about five feet long when a button on the handle is pushed His mother tells him to put it down because he will hurt someone if he's not careful Bobby pushes the button when the sword is pointed toward his face and, just as all properly functioning Extendo Swords do, the sword shoots out Bobby is injured and, under products liability, sues the toy store which sold the toy Bobby will most likely:

16) Under federal rules regulating food and drugs, which of the following is true?

17) Which of the following statements best describes the procedures under the Clean Air Act?

18) Mary applied for a permit with a federal administrative agency to operate a business within the boundaries of a popular national forest The agency grants a limited number of these permits that allow operation of the business during the busy tourist season The agency has turned down Mary's application even though she received a permit in the prior year, paid the related fees on time, and violated none of the permit's conditions The agency granted a permit to a different applicant who had never run this type of business previously If Mary appeals the decision to a court, what standard of review will it most likely use?

19) What is the most basic or common remedy available for breach of a contract?

20) The circumstances where an offer cannot be withdrawn under promissory estoppel is also known as:

21) Which of the following is correct regarding a counteroffer?

22) A contract for the sale of land:

23) What does the parol evidence rule do?

24) John is president and sole shareholder of Photo, Inc Photo, Inc wishes to borrow money, but to do so, the bank requires John to orally guarantee to repay the loan if Photo, Inc cannot John's guaranty to repay is:

25) Licensing of informational rights can best be described as:

26) Which of the following best describes how e-mail contracts are viewed under the law?

27) Under the Uniform Computer Information Transactions Act, tender of performance is:

28) William was a factory worker at the Spruce Industries plant When it was learned he was a homosexual, he was fired This action is:

29) Which is true about the two kinds of discrimination that are actionable under Title VII?

30) Which of the following is true about sexual harassment in the workplace?

31) Minimum wage, hours of employment, and child labor are regulated by the:

32) Which of the following is true about the provisions of the Consolidated Omnibus Budget Reconciliation Act (COBRA) as they related to health insurance?

33) Which of the following statutes provides that it is legal for employees to organize a union?

34) Edward's Warehouse stores a variety of generic goods for several distributors in Anytown Which of the following describes Edward's liability for the bailed goods should something happen to them?

35) A bailment is:

36) Which of the following would be classified as tangible personal property?

37) What was accomplished by the Visual Artists Rights Act?

38) Which of the following is true about misappropriation of trade secrets?

39) A doctrine that says a patent may not be granted if the invention was used by the public for more than a certain period of time prior to the filing of the patent application is known as;

40) How does an easement appurtenant differ from an easement in gross?

41) Sam sells property to Betty and delivers Betty a deed that says "This property is conveyed to Betty so long as she never operates a bar on the premises." If she operates a bar on the premises, Sam Seller may take possession of the property. The type of interest that Betty Buyer has acquired is a:

42) Which of the following is true about a life estate?

43) What makes a publicly held corporation different from a public corporation?

44) Limited partners can lose their limited liability by Breaching the fiduciary duty to the limited partnership.:

45) If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true?

46) The Sarbanes-Oxley Act provides for the establishment of the _____________ to over see audits of public companies. This will be done to protect the interests of shareholders and investors.

47) The Sarbane-Oxley Act of 2002 was enacted in order to:

48) According to Sarbanes-Oxley, this person or people should sign the Federal income tax return of a corporation:

49) Which of the following is likely to be a breach of a corporate officer's/director's duty of care?

50) In what ways may officers and directors protect themselves from liability for actions taken as an officer or director?

51) There are no accountants on the board of the Oriole Corporation The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation The board does not do an independent analysis of the CPA's report In these circumstances, the board is: