June 9th Quiz Flashcards Preview

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

Unreal strict liability, the manufacturer is liable regardless of…

A

Negligence or fault of defective condition of product

2
Q

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

A

Prior sellers on the distribution chain

3
Q

Prior sellers in the distribution chain…2 examples

A

1 wholesaler

2 manufacturer

4
Q

An involuntary petition would stop…

A

Enforcement of judgment liens against property in bankruptcy
Estate

5
Q

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

A

Becomes a tenant in common with the remaining joint tenants

6
Q

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

A

Factory Line workers

7
Q

Factory line workers are entitled to…

A

Minimum wages and overtime pay

8
Q

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

A

Caused drawn a loss

9
Q

When a buyer has no grounds for rescinding the sale…

A

The bank has no liability

10
Q

The Bankruptcy Reform Act, establishes the priorities for…

A

Satisfaction of claims against debtor in bankruptcy proceedings

11
Q

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

A

Employees’ wages

12
Q

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

A

Earned within 90 days before filing the petition

13
Q

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

A

Takes free as a buyer in ordinary course of business

14
Q

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…

A

In unreasonably dangerous condition when sold

Decks in Yaeger REG Class (77):