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Quiz show commercial law


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Quiz show commercial law

  1. 1. Donna M. Kesot, CPCU February 27, 2013
  2. 2. Match the Act to what it regulates: Sherman Act Warranties Clayton Act Unfair Trade Practices FCT Act Anti-TrustMcCarran-Ferguson Act Mergers Mangnuson-Moss Act Insurance by States
  3. 3. Unilateral or bilateral contractSale on ApprovalSale on ReturnAuction Sales
  4. 4. FOB (free on board) Place of Shipment meansThe seller delivers goods to the carrier at theseller’s risk & expense, ownership transfersto the buyer when the goods are delivered. TRUE or FALSE?
  5. 5. • Written documents that allow parties to pay at a distant or future time
  6. 6. • Cash or near cash assets that a principal pledges to secure credit, a loan or other obligation
  7. 7. Property on paper is a form of collateral
  8. 8. Creation of a security interest in property
  9. 9. A legally enforceable agreement in which abuyer and seller transfer, or agree totransfer, ownership of property forconsideration.
  10. 10. Which are foreclosure DefaultRights? Right to sell the collateral & dispose of it as desired Right to regain possession Right to sue on the underlying debt Right to strict foreclosure All of the Above
  11. 11. Match the Act to what it regulates: Trust in Lending Act Chapters 7, 13Fair Credit Reporting Act Bank Debit CardsElectronic Fund Transfer Act Terms & Interest Equal Credit Opp Act Consumer Report’g AgencyFederal Bankruptcy Act Disclose Rejection Reason