Term
| 151. A copyright would protect a photograph. |
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Definition
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Term
| 152. Georgia's company may lawfully discover Samantha's company's trade secrets if Samantha's company fails to take reasonable precautions to protect their trade secrets. |
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Definition
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Term
| 153. A patent may be renewed. |
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Definition
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| 154. Knowing and intentional infringement of a mark can be a criminal offense. |
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Definition
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| 155. Komco Computer Company has developed a new and innovative magazine and television ad campaign that it would like to protect from use by its competitors. Komco may copyright its magazine and television ads. |
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Definition
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Term
| 156. The word "truck" cannot be a trademark for trucks, although it could be a trademark for a new brand of designer jeans. |
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Definition
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| 157. A patent is available for an idea as well as a tangible application. |
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Definition
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| 158. Computer software may be patentable. |
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Definition
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Term
| 159. If a trademarked name acquires a generic meaning the owner of the trademark loses protection. |
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Definition
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Term
| 160. Persons found liable for a tort usually must either pay a fine or serve time in prison. |
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Definition
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Term
| 161. Some torts are crimes. |
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Definition
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Term
| 162. "Res ipsa loquitur" means "the thing speaks for itself" and raises a presumption of breach of duty and causation in negligence cases. |
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Definition
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Term
| 163. The plaintiff's burden of proof in a tort action is beyond a reasonable doubt. |
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Definition
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Term
| 164. Bob writes an all-new, original, marching song. Bob's song is copyrightable. |
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Definition
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Term
| 165. Dan lends Susan $500. She agrees to pay Dan $100 a month until the $500 is paid. She gives Dan her diamond ring to hold until she fully satisfies the debt. The ringis "collateral." |
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Definition
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Term
| 166. Filing a petition for bankruptcy automatically stays most legal actions filed against the debtor. |
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Definition
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Term
| 167. Bob throws a ball across his neighbor's property, and the ball then lands in the street; this could constitute "trespass to land." |
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Definition
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Term
| 168. Bob sends Larry Lawyer, his attorney, a letter in which he accuses him of being "an incompetent lawyer." Larry is not incompetent, and Bob knows that the statement he is making is false. This constitutes the tort of defamation. |
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Definition
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Term
| 169. A party trying to establish mutual mistake as a defense to the enforcement of a contract must show that the other party had “scienter” (guilty knowledge) of the mistaken fact. |
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Definition
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Term
| 170. A security interest is not enforceable after the creditor's rights have attached to the collateral. |
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Definition
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Term
| 171. A chair bought by a business office would be classified as a consumer good. |
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Definition
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Term
| 172. In order for an artisan's lien to be valid, the lienholder normally must have possession of the property. |
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Definition
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Term
| 173. Where the creditor has possession of the collateral, the security agreement may be oral. |
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Definition
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Term
| 174. A security agreement may cover after-acquired property of the debtor--if it says so. |
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Definition
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Term
| 175. Attachment of a security interest is a necessary condition for its perfection. |
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Definition
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Term
| 176. Bob has not paid his ex-wife alimony as required under court order. His ex-wife is trying to collect the alimony Bob owes her. Bob files a bankruptcy petition. This automatically stays his ex-wife's collection efforts. |
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Definition
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Term
| 177. Negligence may best be described as an intentional tort. |
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Definition
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Term
| 178. When a court determines whether the defendant has breached his or her duty of care to the plaintiff, the court asks whether the defendant acted the way a reasonable person would in similar circumstances. |
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Definition
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Term
| 179. Compensatory damages include damages for past and future pain and suffering. |
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Definition
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Term
| 180. A company is generally not liable for the criminal acts of its employees. |
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Definition
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Term
| 181. One who participates in an activity subject to strict liability will be held liable for damages resulting from the activity even if he exercised reasonable care in undertaking the activity. |
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Definition
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Term
| 182. Strict liability for defective products requires the plaintiff to show there was a defect in the product that caused the injury. |
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Definition
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Term
| 183. In some cases, failure to warn about a product's dangers can make an otherwise safe product defective. |
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Definition
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Term
| 184. Generally, sellers must design their products to be safe when foreseeably misused. |
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Definition
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Term
| 185. To succeed in a product liability suit based on strict liability, a plaintiff does not need to prove why or how a product became defective. |
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Definition
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Term
| 186. Defendants who engage in ultrahazardous activities are almost always strictly liable for any harm they cause. |
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Definition
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Term
| 187. A defendant who engages in an ultrahazardous activity is liable for any harm that results from the activity. |
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Definition
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Term
| 188. Unless the warranty of merchantability is expressly disclaimed, all merchants warrant that the goods they sell are fit for the general purpose for which they are intended to be used. |
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Definition
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Term
| 189. A security interest is enforceable only if the collateral is in the possession of the secured party. |
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Definition
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Term
| 190. To have an enforceable security interest in collateral that is in the possession of the secured party, there must be a written security agreement. |
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Definition
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Term
| 191. A security interest is not enforceable unless the creditor's rights have attached to the collateral. |
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Definition
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Term
| 192. A security agreement's description of collateral as "all the debtor's assets" is sufficient to reasonably identify the property. |
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Definition
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Term
| 193. To create an enforceable security interest, the secured party must give value. |
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Definition
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Term
| 194. Collateral is not the subject of a security interest. |
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Definition
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Term
| 195. An authenticated security agreement can be in an electronic medium. |
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Definition
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Term
| 196. For a creditor to have an enforceable security interest, it is necessary that the debtor have rights in the collateral. |
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Definition
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Term
| 197. A financing statement is effective even if it is filed electronically. |
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Definition
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Term
| 198. For a financing statement to be valid, it must contain a description of the collateral. |
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Definition
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Term
| 199. An improper filing does not render a secured party unperfected. |
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Definition
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Term
| 200. The state office in which a financing statement should be filed depends on the debtor's location. |
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Definition
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Term
| 201. A pledge is a promise made by a debtor to take reasonable care of the property. |
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Definition
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Term
| 202. Filing a financing statement with the appropriate public office is the only way to perfect a purchase-money security interest in consumer goods. |
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Definition
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Term
| 203. A purchase-money security interest in consumer goods is perfected automatically at the time of a credit sale. |
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Definition
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Term
| 204. A purchase-money security interest arises when a seller or lender provides a buyer with the "purchase money" to buy goods. |
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Definition
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Term
| 205. A mechanic's lien can be enforced to obtain payment for work that adds value to personal property. |
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Definition
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Term
| 206. A creditor with a mechanic's lien on property can prevent the sale of the property but cannot sell the property to satisfy the debt |
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Definition
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Term
| 207. A debt does not have to be past due before a creditor can begin legal action against a debtor. |
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Definition
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Term
| 208. An artisan's lien is effective only if a creditor has possession of the property. |
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Definition
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Term
| 209. If a debtor cannot, or will not, pay a judgment, a creditor can only resort to "self-help" to collect. |
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Definition
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Term
| 210. A writ of execution is a court order to seize a debtor's property after the entry of a final judgment in a creditor's lawsuit against the debtor. |
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Definition
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Term
| 211. In a contract of suretyship, the surety is secondarily liable on an obligation and becomes primarily liable only when the debtor cannot pay the debt. |
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Definition
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Term
| 212. Before a surety can be required to answer for the debt of a debtor, the debtor must have defaulted on the underlying obligation. |
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Definition
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Term
| 213. A contract of suretyship must be in writing to be enforceable. |
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Definition
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Term
| 214. A surety can use any defenses available to a debtor to avoid liability on the obligation to the creditor. |
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Definition
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Term
| 215. Bankruptcy law has one goal: to ensure equitable treatment to creditors who are competing for a debtor's assets. |
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Definition
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Term
| 216. Bankruptcy proceedings are held in federal bankruptcy courts. |
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Definition
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Term
| 217. A bankruptcy court looks at the totality of a debtor's circumstances to determine whether the debtor's petition for relief under Chapter 7 constitutes substantial abuse |
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Definition
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Term
| 218. The filing of a petition for bankruptcy will automatically stay most legal actions against the debtor. |
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Definition
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Term
| 219. It is possible, on a debtor's bankruptcy, that an unsecured creditor might receive nothing to cover the debt. |
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Definition
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Term
| 220. A creditor's extension of time to a debtor for making payment, without the consent of the surety, will not discharge the surety. |
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Definition
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Term
| 221. Filing bankruptcy will automatically discharge all debts, including student loans and child support payments. |
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Definition
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Term
| 222. A creditor with an artisan's lien on property can sell the property to satisfy the debt. |
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Definition
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Term
| 223. A guarantor is secondarily liable on an obligation. |
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Definition
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Term
| 224. A guarantor becomes primarily liable only when a debtor cannot pay a debt. |
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Definition
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