Question

60. How does confidential business information maintain the protection of the law?

                  a. by registration                       b. by fixation

                   c. by efforts to keep it secret        d. by use

61. The president of Amanda's organization has instructed that all strategic business information be protected due to its confidentiality. How will this secret information receive protection?

a. Protection is afforded exclusively through patent claims.

2. Protection is afforded exclusively through express or implied confidentiality obligations.
3. Protection is afforded by copyright law.
4. Protection is afforded through the trade secret application process.

62. What type of land ownership confers the most comprehensive level of ownership possible?

                   a. life estate            b. fee simple

                  c. joint tenancy     d. full estate

63. Which of the following is synonymous with equity of redemption with respect to real property law?

1. the right to have legal ownership restored upon the repayment of the mortgage
2. damages based on the value of the property on the date of equity redemption
3. the right of owners to exclusively control land during the term of a lease
4. damages substituted for the court's decree of a right to equity redemption

64. One of MSM Properties' tenants is now three months behind on its rent and MSM plans to exercise its remedy of distress. How will this remedy assist MSM?

1. MSM can relet the property to a different tenant.
2. MSM can lock the tenant out of the property.
3. MSM can seize property belonging to the tenant.
4. MSM can evict the tenant.

65. Minimarket Grocers is in a one year lease of a bay in a strip mall that is subject to a periodic tenancy. The one year period will be completed in three months. What will happen if Minimarket allows the three months to pass without taking any further steps?

1. Minimarket will be in breach of the terms of the lease.
2. The lease will expire and Minimarket will have to vacate the premises.
3. The lease will automatically renew for another year.
4. The lease will renew for an additional one month period

66. Why is a commercial lease dependent upon the value, nature, and size of the property?

   a. they determine the complexity of the lease agreement

2. they determine the extent of leasehold improvements
3. they determine the permitted alternation of the space
4. they determine the responsibility for repairs and maintenance

68. Which of the following is a distinguishing characteristic of an unsecured debt?

1. the loan must be advanced within a designated period
2. the financing arrangements are formal and deliberate
3. the incidental feature of routineness
4. the absence of security interest in debtor's assets

69. What is a feature of a general security agreement?

1. a right of subrogation
2. all personal property is included as collateral
3. a personal guarantee is signed by the debtor d. a security interest is created in all real property C)

70. What is a common means of dealing with payment risk in international transactions?

                  a. guarantees                        b. security agreements

                  c. a letter of commitment     d. a letter of credit

Answer 1

Question No 1 - Answer is Option C - by trying to keep it secret.

Question No.2 - Answer is Option B - Protection is afforded exclusively through express or implied confidentiality obligations.

Question No.3 - Answer is Option A - Life Tenancy

Question No.4 - Answer is Option C the right of owners to exclusively control land during the term of a lease

Question No.5 - Answer is Option C MSM can seize property belonging to the tenant.

Question No.6 - Answer is Option A Minimarket will be in breach of the terms of the lease.

Question No.7 - Answer is Option B they determine the extent of leasehold improvements

Question No.8 - Answer is Option D the absence of security interest in debtor's assets

Question No.9 - Answer is Option D Letter of Credit