工商导论练习题1-2班

of the above

6．Law established by legislative bodies is _ and often referred to as written law．

a) regulatory law b) common law c) statutory law d) all of the above

7．Law created by decree of government agencies is——and also called administrative law．

a) regulatory law b) common law c) statutory law d) all of the above

8．Lawful purpose，competency of parties，voluntary agreement，consideration and proper form are five elements that must be contained in ________.

a) a contract b) a warranty c) a title to a property d)an endorsement

9. _________ means that the parties to the contract must exchange items of value．

a) lawful purpose b)consideration c)voluntary agreement d)competency of parties

10．A surgeon who forgot to take out a surgical forceps from a patient's belly after a stomach operation is said to have committed a

a) intentional tort b )negligence tort c) liability tort d) product tort

11．A seed company sold farmers corn seeds which the company knew were of low quality and caused losses to the farmers，the farmers could sue the company for—

a) intentional tort b ) negligence tort c) liability tort d) product tort

12.Beel bottle when exposed to direct heat may explode and cause injuries to people around it．The injured can sue the beer company for——and demand compensation．

a) intentional tort b )negligence tort c) liability tort d) product liability tort

13. ——spells out the features of a product in writing．

a) express warranty b) implied warranty c) merchantability d) property

14．A clock must tell time and a car must drive are typical examples of——．

a) express warranty b) implied warranty c)property d) patent

1 5．Endorsements are usually made in four forms——． a)blank，restrictive，special and qualified． b)lawful，competent, voluntary and proper c)blank，restrictive, lawful and competent d)special，qualified，voluntary and proper

16．——stipulates the powers and duties of an agent as well as the responsibilities of a principal．

a) Agency law b) Power of attorney c)Terms of reference d) Equitable compensation

1 7．In order to relieve the bankrupt businesses from further debt burden and help them begin anew,——have been developed．

a) agency laws b) property law c) bankruptcy 1aws d) contract laws

l 8．When a business goes bankrupt，a trustee can be elected to liquidate and distribute the——to the creditors.

a) dividends b) commissions c) debts d) proceeds

19．If creditors can only co1lect a portion of the debt，they tend to work out a(n)——in which an extension of payment terms are offered． a) composition agreement b) petition agreement

c) extension agreement d) voluntary agreement Fill in Blanks

1．According to their origins，law can be classified into three types；_____________, _____________ and _____________

2．Regulatory laws are created by decree of government agencies and therefore also called_______．

3. ______________ means that the purpose of the contract must be lawful．

4．Parties to a contract must be legally competent and can be held fully liable for their conduct．This is one of the _____________element contained in a contract called________．

5. ____________ is a name，word or a symbol that has been registered by the owner for identifying its product．

6. _______________ is an exclusive right granted by the government to allow the inventor to make，use or sell his invention．

7．One way to restrict further negotiation is to endorse an instrument specially for a specific individual，which is called _____________. 8．____________ is used to protect the endorser's right if the maker of the instrument fails to pay by writing “without recourse” above the signature． 9．Firms authorize people to act on their behalf．The firms are called______________ and the authorized people are known as____________．

10．According to the bankruptcy laws，if the debtor files a petition for bankruptcy first, the process is called__________；if the creditors file a petition for bankruptcy first, the process is called___________

11．A contract is a legally enforceable agreement between two or more parties and must contain the following five elements．They are____________, competency of parties，____________, consideration and proper form． True／False