June 9th Quiz Flashcards Preview

Yaeger REG > June 9th Quiz > Flashcards

Flashcards in June 9th Quiz Deck (14):
1

Unreal strict liability, the manufacturer is liable regardless of...

Negligence or fault of defective condition of product

2

Seller engaged in the business of selling the product is defined to include not only the buyer's immediate seller but...

Prior sellers on the distribution chain

3

Prior sellers in the distribution chain...2 examples

1 wholesaler

2 manufacturer

4

An involuntary petition would stop...

Enforcement of judgment liens against property in bankruptcy
Estate

5

When rights in property held in joint tenancy are conveyed without the consent of the other joint tenants, the new owner...

Becomes a tenant in common with the remaining joint tenants

6

Which type of job is considered nonexempt with respect to minimum wage and overtime pay provisions of the Fair Labor Standards Act?

Factory Line workers

7

Factory line workers are entitled to...

Minimum wages and overtime pay

8

Bank is only liable to the drawer if failure to obey stop payment order...

Caused drawn a loss

9

When a buyer has no grounds for rescinding the sale...

The bank has no liability

10

The Bankruptcy Reform Act, establishes the priorities for...

Satisfaction of claims against debtor in bankruptcy proceedings

11

Unsecured claims with the highest priority under the Bankruptcy Reform Act would be...

Employees' wages

12

Unsecured claims with the highest priority under the Bankruptcy Reform Act would be employees' wages since they were...

Earned within 90 days before filing the petition

13

A professional pianist, who purchased a piano that was attached...

Takes free as a buyer in ordinary course of business

14

Under strict liability, a seller engaged in the business of selling a product is held liable for injuries caused by a product if it was...

In unreasonably dangerous condition when sold

Decks in Yaeger REG Class (77):