Operations 10/28

Question 1

A covenant not to compete is generally enforceable if: 

The territory and time restrictions are reasonable.

Question 2

For a sole proprietorship, the owner's personal assets are protected from business debts. 

False

Question 3

An anti-lapse clause provides an insured with a grace period to pay an overdue premium before the policy is canceled.

True

Question 4

The Age Discrimination in Employment Act (ADEA) protects applicants and employees who are how many years of age and older? 

40

Question 5

The doctrine of Employment-at-Will is applied in every state except which one? 

Montana

Question 6

A qualified employee with a disability is an individual who can perform the essential functions of the job only with a reasonable accommodation. 

True

Question 7

What document provides a summary of deeds and other documents that establish the ownership history of real property, and identifies liens or mortgages?

Title Abstract

Question 8

The common law doctrine that allows an employer or employee to terminate the employment relationship at any time for any reason is known as:

Employment at Will

The Family and Medical Leave Act (FMLA) applies to employers with a minimum of how many employees?

The Family and Medical Leave Act (FMLA) applies to employers with a minimum of 50 employees.

Question 10

The term periodic tenancy is one of the most common tenancy types for leasing business space.

False

Question 11

The Occupational Safety and Health Administration (OSHA) requires employers to provide a safe and healthy workplace. 

True

Question 12

The Latin term meaning "let the master respond" and referring to the doctrine of vicarious liability is: 

Respondeat Superior

Question 13

To be eligible for FMLA leave, an employee must work at a location where the employer has at least 50 employees within a radius of: 

75 miles

Wage

Compensation usually for skilled and unskilled labor expressed in terms of hours, weeks, or pieces completed

Collective Bargaining Agreement

A legal agreement between an employer and a union representing employees

Respondeat Superior

Doctrine holding an employer liable for injuries caused by employees acting within the scope of their employment.

Negligent Employment

An employer's direct liability for the actions of an employee due to failure to investigate the applicant's background

Covenant Not to Compete

A promise not to engage in the same type of business for a stated time and territory.

Question 15

For income tax purposes, employees receive a: 

W-2 wage and tax statement

The Civil Rights Act - Title VII prohibits discrimination based on all of the following EXCEPT:

Age

Question 17

The taxation mechanism where a partnership passes their income or loss through to the partners, who then report it on their individual tax returns, is called a: 

Tax pass-through

Deed

A legal document that conveys or transfers the title and ownership of real property from one person or entity to another.

Title Abstract

A legal document that summarizes deeds and other documents to establish the ownership history of real property.

Fiduciary 

A person in a relationship of trust and confidence.

Appraisal Clause 

Clause allowing either an insurer or insured to demand an estimate prepared by an impartial third-party if they cannot agree on the amount of a loss.

Tenancy at Sufferance

Tenancy created when a tenant remains in possession of real property beyond the duration of the lease without the landlord's consent.

Question 19

Workers' Compensation laws allow injured employees to receive benefits even if the employer was not negligent.

True

Question 20

A fixture is defined in property law as: 

An object permanently attached to land (real property).

In property law, define "Waste" as it relates to a tenant's use of real property.

Waste is when a tenant damages, destroys, or improperly uses a property in a way that lowers its value or harms its condition.

Question 22

The death or incapacity of either the principal or the agent terminates the agency relationship, unless a durable power of attorney is in effect for incapacity. 

True

Question 23

The Equal Dignity Rule requires that: 

An agent's authority must be in writing if the contract they enter must be in writing.

Question 24

When an LLC has more than one member, the IRS treats it as a sole proprietorship. 

False

Question 25

Apparent Authority exists when: 

Third parties believe the agent has authority because of the principal's behavior.

Briefly explain why an individual who voluntarily quits a job without cause is typically ineligible for unemployment benefits.

Someone who voluntarily quits without cause is typically ineligible because they left their job by choice rather than becoming unemployed through circumstances beyond their control.

What is the purpose of Umbrella Insurance?

It provides additional liability coverage beyond the limits of standard insurance policies, helping protect against large claims or lawsuits.

Question 28

Generally, an employer defines a full-time employee as someone who works between how many hours in a seven-day workweek?

35 and 40 hours

Question 29

If an employment contract is for a time period of more than one year, it must be in writing to satisfy the Statute of Frauds.

True

Question 30

An independent contractor is primarily distinguished from an employee by the fact that the independent contractor is:

Not controlled as to how to perform the work to be performed

Besides the terms of payment, name two key factors the IRS uses to distinguish an employee from an independent contractor.

Two key factors are the degree of control the employer has over how the work is performed and the relationship between the worker and employer, including the type of work and level of supervision.

Question 32

Which of the following is NOT a common discharge exception to the Employment-at-Will doctrine?

Discharge based on financial need for downsizing

Question 33

In an agency relationship, the agent can delegate to the principal the same powers the principal themselves possess. 

False

Question 34

A periodic tenancy is characterized by: 

An indefinite duration that automatically renews if neither party notifies the other of intent to terminate.

Question 35

The Americans with Disabilities Act (ADA) applies to funeral establishments with how many or more employees? 

15

Question 36

An employer can be held directly liable for injury caused by an employee if the employer failed to exercise due diligence in investigating the background of an applicant. This is the doctrine of: 

Negligent Employment

Question 37

An agency relationship is that of a fiduciary, which is defined as:

A person in a relationship of trust and confidence.

What is the legal doctrine that requires an employment contract for a period of more than one year to be in writing?

Statute of Frauds: This legal doctrine requires employment contracts lasting longer than one year to be in writing.