June 9th Quiz Flashcards
Unreal strict liability, the manufacturer is liable regardless of…
Negligence or fault of defective condition of product
Seller engaged in the business of selling the product is defined to include not only the buyer’s immediate seller but…
Prior sellers on the distribution chain
Prior sellers in the distribution chain…2 examples
1 wholesaler
2 manufacturer
An involuntary petition would stop…
Enforcement of judgment liens against property in bankruptcy
Estate
When rights in property held in joint tenancy are conveyed without the consent of the other joint tenants, the new owner…
Becomes a tenant in common with the remaining joint tenants
Which type of job is considered nonexempt with respect to minimum wage and overtime pay provisions of the Fair Labor Standards Act?
Factory Line workers
Factory line workers are entitled to…
Minimum wages and overtime pay
Bank is only liable to the drawer if failure to obey stop payment order…
Caused drawn a loss
When a buyer has no grounds for rescinding the sale…
The bank has no liability
The Bankruptcy Reform Act, establishes the priorities for…
Satisfaction of claims against debtor in bankruptcy proceedings
Unsecured claims with the highest priority under the Bankruptcy Reform Act would be…
Employees’ wages
Unsecured claims with the highest priority under the Bankruptcy Reform Act would be employees’ wages since they were…
Earned within 90 days before filing the petition
A professional pianist, who purchased a piano that was attached…
Takes free as a buyer in ordinary course of business
Under strict liability, a seller engaged in the business of selling a product is held liable for injuries caused by a product if it was…
In unreasonably dangerous condition when sold
