1.An instrument is dishonored when the party to whom the instrument is presented refuses to pay it.?
(a)True
(b) False
2.A purchase-money security interest in consumer goods is created when a person buys goods on credit.
(a)True
(b)False
3. Joe files a petition in bankruptcy. The initial proceeding on this petition will be in ?
(a)a federal bankruptcy court.
(b)?a state bankruptcy court.
(c)?the highest court in the state in which Joe is located.
(d)the United States Supreme Court.
4.Employers that have fifty or more employees must provide certain employees withpaidfamily or medical leave.?
(a)True
(b)False
5.A partner may pursue his or her own interests without automatically violating the partner’s fiduciary duties to the partnership and the other partners.
(a)True
(b)False
6.As a general rule, shareholders make daily business decisions for a corporation.
(a)True
(b)False
7.A director must always vote on a proposed transaction in which he or she has a personal interest.
(a)True
(b)False
8.Only personal property, not real property or persons, can be the subject of a bailment.?
(a)True
(b)False
