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Which of the following theories of jurisprudence, according to some people, is not a good way to view law because it makes law too fluid? A.Aristocracy B.Legal Positivism C.Natural law D.Sociological theory Bid rigging occurs when: A.bidders agree ahead of […]

If there is no consideration between the parties, there is no valid and binding contract. Title VII prohibits discrimination on the basis of sexual orientation. Answer: FALSE Title VII does not prohibit discrimination on the basis of sexual orientation. In […]

Which of the following statements is true regarding regulatory negotiation? A.It is generally carried out after the case has been filed with the court. B.It involves assembling ordinary citizens and then asking them to act like a jury. C.It is […]

If, rather that have the interest after the life estate go to a third party, the grantor dictates that the interest is to return to the grantor, this is _____. A.life estate B.estate for years C.reversion D.remainder What is a […]

According to the work-for-hire doctrine, an employer is entitled to any ownership of property created by an independent contractor. Arbitration involves the intervention of a disinterested third party into a dispute. Answer: TRUE Arbitration involves the intervention of a disinterested […]

In the context of insider trading, those who receive insider information from the issuer in connection with other duties such as accountants or lawyers are also considered insiders under Rule 10b-5. The work-for-hire doctrine states that an employer automatically owns […]

Conciliation is also known as _____. A.mediation B.arbitration C.negotiation D.mitigation _____ damages are damages over and above what is necessary to make the party whole. Punitive damages are intended to reflect society’s reaction to the harm inflicted by the defendant. […]

The bill of rights, implemented under the Landrum-Griffin Act of 1959, states that: A.members do not have the right to vote on union business. B.union officers must be voted through public ballots. C.union elections must be held every three years. […]

Bank note is an example of _____. A.debt securities B.bills receivables C.forward rate agreements D.chattel papers If two or more firms engage in a conspiracy to fix prices, they have formed a(n) _____. A.oligopoly B.monopoly C.oligopsony D.cartel Answer: D. If […]

A service mark differs from a trademark only in that it identifies services rather than goods. Embezzlement is a breach of trust done for private gain by an employee or agent of the corporation. Answer: TRUE Embezzlement is a breach […]

Ponzi and pyramid schemes are frauds included in the category of financial institution frauds. A case that represents hypothetical issues is said to be ripe for decision. Answer: FALSE Ripeness of a case is not related to whether it represents […]

Where the principal is fully disclosed, the agent is not a party to the contract. In the case of joint tenants with right of survivorship, a joint tenant can pass his or her interest by will to anyone other than […]

A _____ is pollution that comes from many sources, such as melting snow that picks up animal waste, leakage from vehicles, and pesticides. A.spot source B.nonpoint source C.point source D.line source With reference to specialized state level courts, which of […]

Wildcat strikes are illegal and subject to unfair labor practice charges. The refrigerator purchased by a physician to store medicines in her office is classified as a consumer good. Answer: FALSE The refrigerator purchased by a physician to store medicines […]

If an agency is granted the authority to hear and decide agency disputes, the decisions of these agencies cannot be challenged in a federal court. The Securities Exchange Act of 1933 regulates secondary trades of securities between persons having no […]

In the case of an agency relationship, an agent’s authority is terminated upon the loss of capacity of the agent by insanity. If an administrative agency issues a final order in an adjudication, the order will have full force and […]

If a business chooses to dump toxic waste into a city’s storm drains, it is an example of _____. A.crime of apartheid B.white collar crime C.blue collar crime D.piracy Price fixing is an antitrust violation under the _____. A.Dodd-Frank Act […]

An organization that gives back to the community through employee volunteering or through charitable donations is said to be: A.upcycling. B.designing for the environment. C.superfunding. D.socially sustainable. The _____ is part of the executive Office of the President and it […]

The shape of a Coca-Cola bottle is protected with the help of a _____. A.copyright B.patent C.trademark D.license Which of the following requirements of a valid contract ensures that those who enter into agreements understand the nature and effect of […]

Many states permit withdrawal by an attorney when the highest authority of the corporation insists on a criminal action that will substantially injure the corporation. This is called _____. A.reporting up B.external reporting C.reporting out D.proxy solicitation Which of the […]

Defamation is most likely to be an example of _____. A.violation of public law B.a tort C.violation of substantive law D.a felony Which of the following is an antitrust crime? A.Ponzi scheme B.Bribery C.Price discrimination D.Insider trading Answer: C. Antitrust […]

The _____ are delegated the day-to-day management of the corporation and are answerable to the board. A.stockholders B.shareholders C.board of directors D.officers Which of the following acts represents the federal government’s first involvement in the sale of stocks and other […]

Which of the following is true regarding the Resource Conservation and Recovery Act (RCRA)? A.The RCRA exclusively deals with hazardous solid wastes. B.According to the Act, just because a property once contained a hazardous waste product does not mean that […]