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Q:
If a contract is required to be in writing under the Statute of Frauds but is not, the contract is ________.
A) executed
B) unilateral
C) unenforceable
D) formal
Q:
Noelle uses blackmail to force Jeff to sign a contract for the sale of his home. This contract is ________.
A) unenforceable
B) valid
C) void
D) voidable
Q:
While Harry was intoxicated, he sold his car to Ben for substantially less than its fair market value. This contract is considered ________.
A) valid
B) voidable
C) void
D) unenforceable
Q:
Which of the following is a necessary condition for a contract to be considered valid?
A) It can be voided by both parties.
B) It can be voided by one of the parties.
C) It is enforceable by both parties.
D) It is enforceable by at least one of the parties.
Q:
What are the possible problems that can come up in a unilateral contract?
Q:
Explain the basic requirements that must be met for a contract to be enforceable.
Q:
A(n) ________ contract is only valid once the offeree performs the requested act.
Q:
A(n) ________ contract is a contract entered into by way of an exchange of promises between the parties.
Q:
In a recognizance, a party agrees to pay a specified sum of money if another party does not pay it.
Q:
An offer to create a unilateral contract can be revoked by the offeror any time prior to the offeree's performance of the requested act.
Q:
An offer to create a unilateral contract cannot be accepted by a promise to perform.
Q:
A unilateral contract can be accepted without the performance of an act by the offeree.
Q:
An act of performance is necessary to create a bilateral contract.
Q:
A contract is a bilateral contract if the offeror's promise is answered with the offeree's promise of acceptance.
Q:
Provision of services qualifies as consideration for an enforceable contract.
Q:
What is a recognizance?
A) a sealed document that contains a formal contract whose contents are known to both parties and the referee who supervised its signing
B) a party's agreement to pay a sum of money if another person does not pay it
C) a party's acknowledgement in court that he or she is not liable to pay money if a certain event occurs
D) a sealed document that contains an informal contract whose contents are known only to the parties
Q:
Which of the following is an example of an informal contract?
A) a recognizance
B) a lease
C) a letter of credit
D) a check
Q:
Alan tells Sherry that he will pay her $5,000 if she runs the Boston Marathon. Once Sherry starts running the marathon, Alan ________.
A) can revoke the contract, as an informal verbal agreement is not legally binding
B) can revoke the contract, provided he does so before she completes the marathon
C) can reduce the amount of money he offered her, provided he does so before she completes the marathon
D) cannot revoke the contract
Q:
Martha contacts a bakery to get a cake for her son's birthday party. She tells the baker that she will pay him $150 for the cake if he delivers the cake on Friday evening. If the baker does not deliver the cake on Friday evening, which of the following is accurate?
A) Martha can sue the baker but cannot recover damages.
B) Martha can sue the baker and recover $150 in damages.
C) Martha cannot sue the baker.
D) The baker must pay Martha $150 plus the cost of a replacement cake, as he entered into a verbal contract with her and did not perform his legal obligation.
Q:
Yvonne finds a carpenter to do some repairs for her house and tells him that if he finishes the job by Saturday, she will pay him $1,000. Yvonne's offer creates a(n) ________ contract.
A) executed
B) unilateral
C) executory
D) bilateral
Q:
A contract is ________ if the offeror's offer can be accepted only by the performance of an act by the offeree.
A) executed
B) executory
C) unilateral
D) bilateral
Q:
Windsor, the owner of Windsor's Sandwiches, contacts Gary, a new supplier. He promises Gary that he will pay him $375 if Gary delivers 20 pounds of cheese the following morning. Gary promises to make the delivery as requested by Windsor. This creates a(n) ________ contract between them.
A) bilateral
B) unilateral
C) executed
D) voidable
Q:
A contract is a(n) ________ contract if the offeror's promise is answered with the offeree's promise of acceptance.
A) voidable
B) executed
C) unilateral
D) bilateral
Q:
Two brothers, Sam and Jim, were fighting over the division of their ancestral property. After ten years of legal battle, a frustrated Sam contacted a powerful politician who subjected Jim to extreme duress, forcing him to sign a contract in favor of Sam. When Sam takes this contract to court, the contract will be declared ________.
A) voidable
B) void
C) null
D) unenforceable
Q:
Which of the following is acceptable consideration for a contract?
A) a penalty
B) an arrest
C) a sentence
D) money
Q:
The ________ doctrine allows for certain limited unauthorized use of copyrighted materials.
Q:
The trademark symbol TM is used to indicate a registered mark.
Q:
The No Electronic Theft Act (NET Act) can be invoked for copyright infringements that do not involve financial gain.
Q:
In terms of the unauthorized use of copyrighted materials, the fair use doctrine does not allow reproduction of a work in a legislative or judicial proceeding.
Q:
The fair use doctrine allows certain limited unauthorized use of copyrighted materials.
Q:
After the copyright period runs out, the work enters the public domain.
Q:
Copyright registration permits a holder to obtain statutory damages for copyright infringement, which may be greater than actual damages, and attorney's fees.
Q:
Uploading copyrighted material to an unauthorized website by a non-copyright holder would constitute copyright infringement under the ________.
A) Digital Millennium Copyright Act
B) Berne Convention
C) No Electronic Theft Act
D) Copyright Term Extension Act
Q:
In terms of copyright law, the use of copyrighted material in a satire or parody exemplifies ________.
A) the piracy problem
B) copyright sharing
C) the fair use doctrine
D) copyright infringement
Q:
In the context of copyrighted material, which of the following statements accurately describes the fair use doctrine?
A) It stipulates the time period for which a copyright holder can retain his copyright.
B) It guides the U.S. Copyright Office in determining what works are copyrightable.
C) It permits the use of copyrighted material by someone other than the copyright holder for a statutorily-prescribed fee.
D) It permits certain limited use of copyrighted material by someone other than the copyright holder without the permission of the copyright holder.
Q:
Which of the following constitutes copyright infringement?
A) the use of several clips from a copyrighted movie in a documentary
B) the use of a brief quotation from a copyrighted work in a news report
C) the use of copyrighted material in a spoof or satire
D) reproduction by a teacher or student of a small part of a copyrighted work to illustrate a lesson
Q:
What happens to the ownership of a copyrighted work after the copyright period expires?
A) A non-copyright holder can use the work, but he or she must first purchase the rights to the work.
B) The work enters the public domain and can be used for free.
C) The copyright can be renewed for a fee by the original creator of the work.
D) The government takes over ownership of the work and provides public access for a fee.
Q:
What is the period of copyright protection provided for individuals under the Copyright Term Extension Act of 1998?
A) Individuals are granted 20 years of copyright protection, after which it has to be renewed for a fee.
B) Individuals are granted copyright protection for their lifetime plus 70 years.
C) Individuals are granted 95 years copyright protection from the year of first publication of the work.
D) Individuals are granted 120 years copyright protection from the year of creation of the work.
Q:
Which of the following is an accurate statement regarding the Berne Convention, an international copyright treaty?
A) The treaty eliminates the need to place the copyright symbol or the word "copyright" on a copyrighted work.
B) The treaty makes it mandatory to place the copyright symbol on all copyrighted works.
C) The treaty stipulates the time period a copyright can be retained by the copyright holder before it enters the public domain.
D) The treaty sets the rules for how copyright can be dealt with when sharing copyrighted work between governments.
Q:
Which of the following is copyrightable?
A) a building
B) a business method
C) a musical composition
D) a product logo
Q:
A ________ is a legal right that gives the author of qualifying subject matter the exclusive right to publish, produce, sell, license, and distribute the work.
A) patent
B) copyright
C) trademark
D) trade secret
Q:
What are the requirements for obtaining a patent?
Q:
A(n) ________ is a patent that protects the functionality of an invention.
Q:
The ________ is a special federal appeals court that hears appeals from the Board of Patent Appeals and Interferences of the U.S. Patent and Trademark Office and federal courts concerning patent issues.
Q:
Applications for patents must be filed with the ________.
Q:
A utility patent is a patent that may be obtained for the ornamental nonfunctional design of an item.
Q:
Utility patents for inventions are valid for 20 years.
Q:
Under patent law, it is acceptable to patent tax strategies.
Q:
By permitting pre-issuance and post-grant challenges within the U.S. Patent and Trademark Office (PTO), the law attempts to have disputes resolved within the PTO before reaching the litigation stage.
Q:
In the United States, the first person to invent an item or a process is given patent protection over a later inventor who was first to file a patent application.
Q:
The patent term begins to run from the date the patent is issued.
Q:
Utility patents for inventions are valid for the whole of the inventor's life and 70 years after that.
Q:
If an invention is obvious, then it does not qualify for a patent.
Q:
Improvements to existing machines, processes, or compositions of matter cannot be patented.
Q:
A patent can only be claimed for a limited amount of time.
Q:
The U.S. Patent and Trademark Office (PTO) grants approximately how many patents each year?
A) 250,000
B) 500,000
C) 675,000
D) 775,000
Q:
Which of the following types of patents is valid for only 14 years?
A) a design patent
B) a utility patent
C) a process patent
D) a business method patent
Q:
Which of the following is true of a patent application?
A) A patent application can be moved to the top of the list of other patents for review by the U.S. Patent and Trademark Office if the inventor pays $25,000.
B) The U.S. Patent and Trademark Office must make a decision whether to grant a patent within a year from the date of filing a patent application.
C) An inventor may file a provisional application with the U.S. Patent and Trademark Office and get a maximum of five days to prepare and file a final and complete patent application.
D) The U.S. Patent and Trademark Office can grant priority to patent applications for products that are important to the national economy.
Q:
Which of the following statements is true of the patent period in the United States?
A) It follows the first-to-file rule.
B) The patent term begins to run from the date the patent application is filed.
C) The patent term begins to run from the date the patent is issued.
D) The patent period for an invention is 17 years.
Q:
When does a patent enter the public domain?
A) when the patent term expires
B) when the patent has been challenged in court and found to be an infringement
C) when the government deems that the practical purpose of the invention is universally applicable and cannot be controlled by one individual or a group of people
D) when the invention is either obvious or not a novel one
Q:
Which of the following statements is true of patenting a scientific principle?
A) Patent for a scientific principle has to be applied for directly at the U.S. Court of Appeals for the Federal Circuit.
B) A scientific principle can only be patented once a universal consensus has been reached on its validity.
C) Patent for a scientific principle has to be applied for at the U.S. Patent and Trademark Office.
D) A scientific principle can only be patented if it is a part of the tangible environment.
Q:
A ________ patent protects the functionality of an invention.
A) utility
B) method
C) design
D) process
Q:
What is a patent number?
A) a number assigned to a patent when it comes under investigation
B) a number assigned to a patent when the patent is pending
C) a number assigned to a patent during application
D) a number assigned to a patent once the patent is granted
Q:
Which of the following is a key function of the U.S. Court of Appeals for the Federal Circuit regarding patents?
A) It hears appeals rejected by the state courts regarding patent issues.
B) It accepts applications for new patents.
C) It helps promote uniformity in patent laws.
D) It helps enact new patent laws.
Q:
How do patent laws help an inventor?
A) by helping the inventor guard his patented invention from the public
B) by providing protection for patented inventions from infringement
C) by helping the inventor meet potential buyers for his patented inventions
D) by letting the inventor keep his patents indefinitely
Q:
A ________ is a grant by the federal government to the inventor of an invention for the exclusive right to use, sell, or license the invention for a limited amount of time.
A) copyright
B) trade secret
C) patent
D) trademark
Q:
Give an account of the Economic Espionage Act (EEA) and its importance in combating cyber piracy.
Q:
Congress enacted the federal ________, which makes it a federal crime to steal another's trade secrets.
Q:
A competitor can lawfully discover a trade secret by performing reverse engineering.
Q:
According to the Economic Espionage Act, ________.
A) persons who have reverse-engineered a trade secret can use that trade secret and the related trademark
B) it is a federal crime to steal another's trade secret
C) the rights to a trade secret must be renewed after a specified period of time
D) trade secrets can be shared for a limited amount of time
Q:
What federal statute was enacted by the U.S. Congress to protect trade secrets?
A) the Sarbanes-Oxley Act
B) the Lanham Act
C) the Telecommunication Act
D) the Economic Espionage Act
Q:
In addition to recovering profits made by the offender and damages, a successful plaintiff in a misappropriation of a trade secret case can also ________.
A) obtain an injunction prohibiting the offender from divulging the trade secret
B) ask for transfer of any of the offender's patents to the plaintiff
C) obtain the offender's trademarks or brand name as payoff
D) ask to acquire the offender's trade secrets as payoff
Q:
A competitor can lawfully use a rival's trade secret if the competitor discovers the trade secret by means of ________.
A) copyrighting
B) cross-licensing
C) patenting
D) reverse engineering
Q:
If a competitor reverse-engineers a trade secret, then the competitor is ________.
A) allowed co-ownership of the trade secret and its original trademark
B) allowed to use the trade secret but not its original trademark
C) not allowed to gain commercially from the trade secret
D) obliged to inform the original owner of the trade secret
Q:
A closely guarded formula for a recipe protected by a soft drink manufacturer is a ________.
A) trade secret
B) copyright
C) patent
D) trademark
Q:
A ________ is a product formula, pattern, design, compilation of data, customer list, or other covert business information.
A) copyright
B) trade secret
C) trademark
D) patent
Q:
Intellectual property falls into a category of property known as a(n) ________.
A) tangible property
B) moveable property
C) real property
D) intangible property
Q:
Which of the following is an example of intellectual property?
A) a patent
B) a vehicle
C) a business contract
D) a building
Q:
Give an account of trademark dilution.
Q:
Explain what a generic name is with reference to trademarks.