Question 1

Incidental and consequential damages are the same types of damages.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following acts by a third-party collector would be a violation of the FDCPA?

Accepted Answer

A)  sending the debtor a postcard that reads: "Don't let this bill affect your excellent credit rating" 
B)  calling the debtor at home at 8:30 AM to confirm the debt 
C)  referring the account to an attorney for a lawsuit 
D)  filing suit without first contacting the debtor 
A)  sending the debtor a postcard that reads: "Don't let this bill affect your excellent credit rating" 
B)  calling the debtor at home at 8:30 AM to confirm the debt 
C)  referring the account to an attorney for a lawsuit 
D)  filing suit without first contacting the debtor

Question 3

Silence, or the failure to disclose information, is not misrepresentation.

Accepted Answer

A) True 
 B)False

Question 4

The FCRA does not give the debtor a right of correction.

Accepted Answer

A) True 
 B)False

Question 5

Diana and Charles Windsor are considering purchasing a swimming pool. The representatives of Fun-in-the-Sun Pool arrange a meeting at the Windsor's home to discuss the price and draw up plans. The Windsors sign a contract for the pool for a price of $12,000 with payments of $3000 each month for the next four months while the pool is under construction. The Windsors also agree to pay a carrying charge for the payments of $250.00. Two days after signing the contract, the backhoe operator arrives ready to dig the pool, but Charles tells him the contract is off. The Windsors:

Accepted Answer

A)  have breached their contract and will be liable to Fun-in-the-Sun for damages. 
B)  are protected by their three-day rescission rights under Regulation Z. 
C)  do not have the three-day rescission rights since there are no monthly installment payments over a period of one year. 
D)  none of the above 
A)  have breached their contract and will be liable to Fun-in-the-Sun for damages. 
B)  are protected by their three-day rescission rights under Regulation Z. 
C)  do not have the three-day rescission rights since there are no monthly installment payments over a period of one year. 
D)  none of the above

Question 6

Which of the following is prohibited under the FDCPA?

Accepted Answer

A)  contacting third parties for current address information on the debtor 
B)  contacting the debtor at his/her place of employment 
C)  contacting the debtor after the debtor requests no further contact 
D)  All of the above are prohibited. 
A)  contacting third parties for current address information on the debtor 
B)  contacting the debtor at his/her place of employment 
C)  contacting the debtor after the debtor requests no further contact 
D)  All of the above are prohibited.

Question 7

Compensatory damages are in addition to liquidated damages.

Accepted Answer

A) True 
 B)False

Question 8

Incidental damages are the costs of being compensated and are nonrecoverable.

Accepted Answer

A) True 
 B)False

Question 9

The difference between fraud and misrepresentation is knowledge.

Accepted Answer

A) True 
 B)False

Question 10

Lawyer A transferred his clients to Lawyer B, indicating to his clients that Lawyer B would complete all of the obligations under their fee agreements.

Accepted Answer

A)  Lawyer A has completed an assignment and delegation. 
B)  Lawyer A cannot transfer clients or client agreements. 
C)  Because the clients were notified, Lawyer A can make the transfer. 
D)  The clients are third­party beneficiaries of Lawyer A and Lawyer B's agreement. 
A)  Lawyer A has completed an assignment and delegation. 
B)  Lawyer A cannot transfer clients or client agreements. 
C)  Because the clients were notified, Lawyer A can make the transfer. 
D)  The clients are third­party beneficiaries of Lawyer A and Lawyer B's agreement.

Question 11

Dee's Caterers contracted with Glen Allen Peanut Farms for the purchase of a one year's supply of peanuts for Dee's business. The price was $1.21 per pound. The Glen Allen Peanut Farms was hit by a frost that damaged most of its crops and left what remained with an odd taste. Because other peanut farms also fell victim to the frost, the price of peanuts rose to $3.37 per pound. Dee's demanded delivery. Glen Allen said it would cost too much to perform. Must Glen Allen perform? What damages would Dee's have?

Accepted Answer

Glen Allen has tried the defense of comm

Question 12

The Fair Debt Collections Practices Act applies to attorneys only if they are doing the collection on a percentage basis.

Accepted Answer

A) True 
 B)False

Question 13

Competency licensing statutes do not prevent enforcement of contracts by unlicensed parties.

Accepted Answer

A) True 
 B)False

Question 14

Duress requires proof of physical force.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following would not be a basis for misrepresentation?

Accepted Answer

A)  These shrubs will survive in direct sunlight. 
B)  This lawnmower has a safety turn-off switch. 
C)  This soft water system will add five years to the life of your washing machine. 
D)  All of the above are a basis for misrepresentation. 
A)  These shrubs will survive in direct sunlight. 
B)  This lawnmower has a safety turn-off switch. 
C)  This soft water system will add five years to the life of your washing machine. 
D)  All of the above are a basis for misrepresentation.

Question 16

Covenants not to compete are generally considered void as against public policy.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following statements in a letter from a collector to a debtor would be a violation of FDCPA?

Accepted Answer

A)  "We will be contacting your employer to let him know of this problem." 
B)  "We will file suit if payment is not made within 30 days." 
C)  "We will be calling you at your home." 
D)  All of the above are violations. 
A)  "We will be contacting your employer to let him know of this problem." 
B)  "We will file suit if payment is not made within 30 days." 
C)  "We will be calling you at your home." 
D)  All of the above are violations.

Question 18

The FCRA permits the disclosure of an embezzlement for which probation was completed ten years ago.

Accepted Answer

A) True 
 B)False

Question 19

A letter of credit is issued by the buyer's bank.

Accepted Answer

A) True 
 B)False

Question 20

Misrepresentation must be fraudulent before rescission can be permitted.

Accepted Answer

A) True 
 B)False

Incidental and consequential damages are the same types of damages.

Which of the following acts by a third-party collector would be a violation of the FDCPA?

Silence, or the failure to disclose information, is not misrepresentation.

The FCRA does not give the debtor a right of correction.

Which of the following is prohibited under the FDCPA?

Compensatory damages are in addition to liquidated damages.

Incidental damages are the costs of being compensated and are nonrecoverable.

The difference between fraud and misrepresentation is knowledge.

Lawyer A transferred his clients to Lawyer B, indicating to his clients that Lawyer B would complete all of the obligations under their fee agreements.

The Fair Debt Collections Practices Act applies to attorneys only if they are doing the collection on a percentage basis.

Competency licensing statutes do not prevent enforcement of contracts by unlicensed parties.

Duress requires proof of physical force.

Which of the following would not be a basis for misrepresentation?

Covenants not to compete are generally considered void as against public policy.

Which of the following statements in a letter from a collector to a debtor would be a violation of FDCPA?

The FCRA permits the disclosure of an embezzlement for which probation was completed ten years ago.

A letter of credit is issued by the buyer's bank.

Misrepresentation must be fraudulent before rescission can be permitted.

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

International Law

Business Crime

Business Torts

Cyberlaw, Social Media, and Privacy

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Sales: Product Advertising and Liability

Products: Business Intellectual Property

Business Competition: Antitrust

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management: Employee Welfare

Management: Employment Discrimination

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Exam 13: Contracts: Performance, Remedies, and Rights

Incidental and consequential damages are the same types of damages.

Which of the following acts by a third-party collector would be a violation of the FDCPA?

Silence, or the failure to disclose information, is not misrepresentation.

The FCRA does not give the debtor a right of correction.

Which of the following is prohibited under the FDCPA?

Compensatory damages are in addition to liquidated damages.

Incidental damages are the costs of being compensated and are nonrecoverable.

The difference between fraud and misrepresentation is knowledge.

Lawyer A transferred his clients to Lawyer B, indicating to his clients that Lawyer B would complete all of the obligations under their fee agreements.

The Fair Debt Collections Practices Act applies to attorneys only if they are doing the collection on a percentage basis.

Competency licensing statutes do not prevent enforcement of contracts by unlicensed parties.

Duress requires proof of physical force.

Which of the following would not be a basis for misrepresentation?

Covenants not to compete are generally considered void as against public policy.

Which of the following statements in a letter from a collector to a debtor would be a violation of FDCPA?

The FCRA permits the disclosure of an embezzlement for which probation was completed ten years ago.

A letter of credit is issued by the buyer's bank.

Misrepresentation must be fraudulent before rescission can be permitted.

Introduction to Law

Business Ethics and Social Responsibility

The Judicial System

Managing Disputes: Alternative Dispute Resolution and Litigation Strategies

Business and the Constitution

Administrative Law

International Law

Business Crime

Business Torts

Cyberlaw, Social Media, and Privacy

Environmental Regulation and Sustainability

Contracts and Sales: Introduction and Formation

Sales: Product Advertising and Liability

Products: Business Intellectual Property

Business Competition: Antitrust

Management of Employee Conduct: Agency

Governance and Structure: Forms of Doing Business

Governance and Regulation: Securities Law

Management: Employee Welfare

Management: Employment Discrimination

Filters