CPCU 530 Test questions with
Solutions
True - --If the jurisdiction of the federal courts is based on diversity of
citizenship, the subject matter of the dispute may be which state's law
applies
- Judical Branch - --is charged with deciding if another branch of
government has the power to enact a new law
- Complaint - --This must include a requested remedy
- Rulemaking function of administrative agencys - --A public hearing is
required if request by a government agency or 25 interested individuals
- Investigative Function of administrative agencys - --receive the power to
use subpoenas from legislation
- Contracts - -these may be illegal for the following reasons:
---are contray to constitutional law
---are contrary to statutory law
---are contrary to case law
---are against public law
---contrary to tort law is not a thing
- Exculpatory Clause - --These are typically unenforceable when the
complaining party has a bargaining disadvantage
- Frustration of purpose - --occurs when an unforeseen event undermines a
party's principal purpose for entering into a contract, and both parties knew
of this principal purpose at the time the contract was made
- Anticipatory breach - --this only applies to bi-lateral contracts
- nonbreaching party - --a minor breach of contract may temporarily
suspend a duty of performance for these people
- True - --One type of consideration is a binding promise
-a promise is not a binding promise if you may not actually ask the person to
perform something
-I promise to hire you if I buy the bed and breakfast
Solutions
True - --If the jurisdiction of the federal courts is based on diversity of
citizenship, the subject matter of the dispute may be which state's law
applies
- Judical Branch - --is charged with deciding if another branch of
government has the power to enact a new law
- Complaint - --This must include a requested remedy
- Rulemaking function of administrative agencys - --A public hearing is
required if request by a government agency or 25 interested individuals
- Investigative Function of administrative agencys - --receive the power to
use subpoenas from legislation
- Contracts - -these may be illegal for the following reasons:
---are contray to constitutional law
---are contrary to statutory law
---are contrary to case law
---are against public law
---contrary to tort law is not a thing
- Exculpatory Clause - --These are typically unenforceable when the
complaining party has a bargaining disadvantage
- Frustration of purpose - --occurs when an unforeseen event undermines a
party's principal purpose for entering into a contract, and both parties knew
of this principal purpose at the time the contract was made
- Anticipatory breach - --this only applies to bi-lateral contracts
- nonbreaching party - --a minor breach of contract may temporarily
suspend a duty of performance for these people
- True - --One type of consideration is a binding promise
-a promise is not a binding promise if you may not actually ask the person to
perform something
-I promise to hire you if I buy the bed and breakfast
