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BUS 302L BUSINESS LAW EXAM | 2025-2026 LATEST UPDATED |
ACTUAL EXAM QUESTIONS WITH SOLUTIONS | 100% RATED
CORRECT | 100% VERFIED SOLTIONS | ALREADY GRADED A+
Which of the following is the fundamental definition of property ownership? - (ANSWER)The
right to exclude others from property
An ice cream cone is __________. - (ANSWER)tangible private property
If a bailment is involuntary, what sort of responsibility does the bailee owe the bailor? -
(ANSWER)It differs, but at a minimum, the bailee must not destroy the property.
Select the true statement regarding inherited or gifted real property. - (ANSWER)A gift of real
property must include the deliverance of a deed in order for title to be conveyed.
A deed transferring ownership of a house to you once your mother chooses to move out of the
house and into a nursing home would be __________. - (ANSWER)a reversionary interest
A deed transferring complete ownership of a two-acre plot of land to you with no limitations or
restrictions would be __________. - (ANSWER)a fee simple absolute interest
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According to the Copyright Clause, intellectual property rights are important because they
__________. - (ANSWER)encourage creativity and the invention of new products
The purpose of intellectual property law is __________. - (ANSWER)to recognize and protect
intellectual rights for a period of time sufficient to encourage innovation
Which of the following is a patentable item? - (ANSWER)A genetically modified lab rat
Tina, a newspaper reporter, is having lunch at a restaurant and finds a piece of paper on the floor.
The paper turns out to be the secret recipe used by a local, highly successful BBQ catering
company. Tina publishes the recipe in the paper the next day.
Does Tina's conduct violate trade secret law? - (ANSWER)No, because the company did not do
all reasonable and necessary things to maintain the recipe's secrecy.
Ted wants to discover the secret algorithm developed by a successful software company to pair
local dog owners with potential playmates for their dogs. Ted offers an employee at the company
$20,000 to show him each step of the algorithm so that he can create a similar app.
Does Ted's conduct violate trade secret law? - (ANSWER)Yes, because Ted misappropriated the
software company's trade secret.
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Select the answer that best applies to the Google logo. - (ANSWER)This logo is an example of a
service mark.
Select the statement that best applies to the phrase "Hawaiian pineapple." - (ANSWER)This
phrase likely cannot be trademarked for a pineapple product.
Cara builds a software program that allows users to download copyrighted movies without
permission from the copyright owners.
Select the correct classification for this example. - (ANSWER)Contributory infringement
Harvey, a blogger, quotes several lines of dialogue from a copyrighted movie in his latest blog
post. His blog post is a review of the film, and he does not obtain permission from the copyright
owners.
Select the correct classification for this example. - (ANSWER)Fair use
Gertrude, a literature professor, copies and distributes the full text of a copyrighted novel she's
teaching without permission from the copyright owner. She does this in order to help out some of
her students who can't afford to buy the book.
Select the correct classification for this example. - (ANSWER)Direct copyright infringement
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Which of the following is true of how agency relationships are created? - (ANSWER)They can
be created orally.
Which of the following is true of how agency relationships are created? - (ANSWER)Agency
relationships can be express or implied.
Which of the following is true of how agency relationships are created? - (ANSWER)They can
be created by contract or by agreement.
Phinneas asks a travel agent to reserve a flight and hotel for his upcoming vacation to Mexico. -
(ANSWER)Special agent
Which of the following is true of a principal's duty to an agent? - (ANSWER)A principal's duty
includes submitting payments to an agent.
Which of the following is true of an agent's duty to a principal? - (ANSWER)An agent has a
fiduciary duty to a principal.
Which of the following is true of an agent's duty to a principal? - (ANSWER)An agent owes a
duty to perform with allegiance to a principal's interests.
BUS 302L BUSINESS LAW EXAM | 2025-2026 LATEST UPDATED |
ACTUAL EXAM QUESTIONS WITH SOLUTIONS | 100% RATED
CORRECT | 100% VERFIED SOLTIONS | ALREADY GRADED A+
Which of the following is the fundamental definition of property ownership? - (ANSWER)The
right to exclude others from property
An ice cream cone is __________. - (ANSWER)tangible private property
If a bailment is involuntary, what sort of responsibility does the bailee owe the bailor? -
(ANSWER)It differs, but at a minimum, the bailee must not destroy the property.
Select the true statement regarding inherited or gifted real property. - (ANSWER)A gift of real
property must include the deliverance of a deed in order for title to be conveyed.
A deed transferring ownership of a house to you once your mother chooses to move out of the
house and into a nursing home would be __________. - (ANSWER)a reversionary interest
A deed transferring complete ownership of a two-acre plot of land to you with no limitations or
restrictions would be __________. - (ANSWER)a fee simple absolute interest
,2|Page
According to the Copyright Clause, intellectual property rights are important because they
__________. - (ANSWER)encourage creativity and the invention of new products
The purpose of intellectual property law is __________. - (ANSWER)to recognize and protect
intellectual rights for a period of time sufficient to encourage innovation
Which of the following is a patentable item? - (ANSWER)A genetically modified lab rat
Tina, a newspaper reporter, is having lunch at a restaurant and finds a piece of paper on the floor.
The paper turns out to be the secret recipe used by a local, highly successful BBQ catering
company. Tina publishes the recipe in the paper the next day.
Does Tina's conduct violate trade secret law? - (ANSWER)No, because the company did not do
all reasonable and necessary things to maintain the recipe's secrecy.
Ted wants to discover the secret algorithm developed by a successful software company to pair
local dog owners with potential playmates for their dogs. Ted offers an employee at the company
$20,000 to show him each step of the algorithm so that he can create a similar app.
Does Ted's conduct violate trade secret law? - (ANSWER)Yes, because Ted misappropriated the
software company's trade secret.
,3|Page
Select the answer that best applies to the Google logo. - (ANSWER)This logo is an example of a
service mark.
Select the statement that best applies to the phrase "Hawaiian pineapple." - (ANSWER)This
phrase likely cannot be trademarked for a pineapple product.
Cara builds a software program that allows users to download copyrighted movies without
permission from the copyright owners.
Select the correct classification for this example. - (ANSWER)Contributory infringement
Harvey, a blogger, quotes several lines of dialogue from a copyrighted movie in his latest blog
post. His blog post is a review of the film, and he does not obtain permission from the copyright
owners.
Select the correct classification for this example. - (ANSWER)Fair use
Gertrude, a literature professor, copies and distributes the full text of a copyrighted novel she's
teaching without permission from the copyright owner. She does this in order to help out some of
her students who can't afford to buy the book.
Select the correct classification for this example. - (ANSWER)Direct copyright infringement
, 4|Page
Which of the following is true of how agency relationships are created? - (ANSWER)They can
be created orally.
Which of the following is true of how agency relationships are created? - (ANSWER)Agency
relationships can be express or implied.
Which of the following is true of how agency relationships are created? - (ANSWER)They can
be created by contract or by agreement.
Phinneas asks a travel agent to reserve a flight and hotel for his upcoming vacation to Mexico. -
(ANSWER)Special agent
Which of the following is true of a principal's duty to an agent? - (ANSWER)A principal's duty
includes submitting payments to an agent.
Which of the following is true of an agent's duty to a principal? - (ANSWER)An agent has a
fiduciary duty to a principal.
Which of the following is true of an agent's duty to a principal? - (ANSWER)An agent owes a
duty to perform with allegiance to a principal's interests.
