BUSI 561 BUSI561 Quiz 3 (Liberty University)

BUSI 561 BUSI561 Quiz 3 (Liberty University)


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BUSI561 Quiz 3 (Liberty University)

  1. Which of the following statements is true of the extent of ownership of land? 
  2. Which of the following statements is true about fixtures? 
  3. Alex leases property from Sandra for business. Alex opens a hardware repair shop in this property. He affixes welding equipment to the property. After a period of time, Alex decides to move his business to a different location. Which of the following statements is true of this scenario?
  4. Which of the following estates is the most complete estate? 
  5. Only when a deed has been _______ is the deed said to have been executed. 
  6. Which of the following is the best example of an easement? 
  7. A person who finds abandoned property becomes its owner by possessing it. 
  8. A conveyance of ownership is presumed to be the conveyance of a fee simple absolute unless something to the contrary is stated. 
  9. Recording is essential for the transfer of ownership. 
  10. Andrew and Martha license each other to use their patents. They agree not to license their patents to anyone else without asking for the other's permission first. Which of the following statements is true of Andrew and Martha's agreement? 
  11. ________ is an illegal use of patents that occurs when a holder issues a license to another individual to use a patented object only if the licensee agrees to buy some nonpatented product from the holder. 
  12. Which of the following statements is true of registering a trademark with the Patent and Trademark Office? 
  13. Which of the following is the best description of intellectual property? 
  14. To enjoin a competitor from continuing the use of a trade secret, a plaintiff must prove that ________. 
  15. ________ identify the producers as belonging to a larger group. 
  16. Tying arrangements and cross-licensing are unlawful, because they tend to reduce competition. 
  17. Trademark dilution laws prohibit the use of "distinctive" or "famous" trademarks even without a showing of consumer confusion. 
  18. To be protected in intrastate use, a trademark must be registered with the U.S. Patent Office. 
  19. Which of the following statutes contains the Code of Federal Regulations (CFR)? 
  20. Which of the following best summarizes the provisions of the Federal Register Act of 1933? 
  21. Which of the following is a difference between independent administrative agencies and executive administrative agencies? 
  22. In order to carry out its adjudicative function in individual cases, an administrative agency is subject to guidelines stipulated by ________. 
  23. The Government in Sunshine Act of 1976 requires each agency headed by 
  24. Under a consent order, a company has to admit that it is deceptive. 
  25. In 1995, the House of Representatives and the Senate overwhelmingly passed a bill that required all administrative agencies to do a cost-benefit analysis of any proposed regulation that would cost the economy less than $25 million. 

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