Wiley Quiz Mods 23-37

Question 1

The mailbox rule does not apply if…

Answer 1

The offer provides than an acceptance shall not be effective

Until actually received

Question 2

A secured party cannot retain collateral if it is…2

Answer 2

1 consumer goods and

2 the debtor has paid 60% or more of obligation

Question 3

If collateral is consumer goods and the debtor has paid 60% or more of obligation, the debtor is entitled to…

Answer 3

Compulsory disposition of goods

Question 4

UCC rules concerning risk of loss apply if…

Answer 4

Intent of parties is manifested in contract

Question 5

The trustee in bankruptcy under Bankruptcy Code, is given the option, subject to court approval to…3

Answer 5

1 assume and perform the unexpired lease

2 assume and assign unexpired lease to 3rd party

3 reject unexpired lease

Question 6

In a liquidation case, the trustee must act to assume within…

Answer 6

60 days after order for relief is entered

Question 7

In liquidation case, trustee must act to assume within 60 days after order for relief is entered. If not assumed within this time, the lease…

Answer 7

Is deemed rejected

Question 8

If not assumed within 60 days, trustee may elect to…

Answer 8

Not assume equipment lease

Question 9

Securities Exchange Act of 1934, regulates the trading of securities of issuer companies, including info…

Answer 9

Contained in periodic reports (Form 10-Ks)

Question 10

When the drawer has ordered the drawee (bank) to pay a check to the payee, the bank…2

Answer 10

1 not obligated to the payee to follow that order

2 bank does not have primary liability unless it accepts (certifies)
The check