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Business Law Chapter 1 1 Laws in the U.S. are not set to evolve with changes in social norms.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 1 Legal Heritage and the Digital Age 1) Businesses that are organized in the United States are subject to its laws, but not to the laws of other countries […]
Business Law Chapter 10 1 Death Incompetency Either Party Terminates Option Contract d
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 10 Agreement 1) A contract requires an offer and an acceptance. Answer: TRUE Diff: 1 Topic: Agreement Skill: Legal Concepts 2) An offer is not effective until it is […]
Business Law Chapter 11 1 Hartman For His exceptional Services Toward A ratize Thus
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 11 Consideration and Promissory Estoppel 1) To be enforceable, a contract must be supported by consideration. Answer: TRUE Diff: 1 Topic: Introduction to Consideration and Promissory Estoppel Skill: Legal […]
Business Law Chapter 12 1 Incompetent Persons skill Legal Concepts 56 Which The Following
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 12 Capacity and Legality 1) People below the age of majority are considered minors. Answer: TRUE Diff: 1 Topic: Minors Skill: Legal Concepts 2) Any age below the statutory […]
Business Law Chapter 13 1 Soon Realizes That Such Program Does Not
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 13 Genuineness of Assent and Undue Influence 1) Assent of a party to a contract may be manifested in any manner sufficient to show agreement, including conduct. Answer: TRUE […]
Business Law Chapter 14 1 The Contract Can Oral Both Before And
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 14 Statute of Frauds and Equitable Exceptions 1) Statute of Frauds is a state statute that requires certain types of contracts to be in writing. Answer: TRUE Diff: 1 […]
Business Law Chapter 15 1 A party who is owed a right under a contract is called the obligor
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 15 Third-Party Rights and Discharge 1) Privity of contract refers to the transfer of contractual rights by an obligee to another party. Answer: FALSE Diff: 1 Topic: Assignment of […]
Business Law Chapter 16 1 The Next Day Quick clicks Manages Purchase Six
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 16 Remedies for Breach of Traditional and E-Contracts 1) Strict performance by a party discharges that party’s duties under the contract. Answer: TRUE Diff: 1 Topic: Introduction to Remedies […]
Business Law Chapter 17 1 Each website has a unique online address.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 17 E-Commerce and Digital Law 1) The UCITA provides rules for contracts involving computer information transactions and software and information licenses. Answer: TRUE Diff: 1 Topic: Introduction to E-Commerce […]
Business Law Chapter 19 1 the title to the leased goods passes to the lessee
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 19 Title to Goods and Risk of Loss 1) Article 2 of the Uniform Commercial Code establishes precise rules for determining the passage of title in sales contracts. Answer: […]
Business Law Chapter 2 1 General jurisdiction trial courts can be found in every state
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 2 Courts and Jurisdiction 1) A decision of a limited-jurisdiction trial court can be appealed at a general jurisdiction court or an appellate court. Answer: TRUE Diff: 1 Topic: […]
Business Law Chapter 20 1 Pearson Education Inc Which The Following Essential
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 20 Remedies for Breach of Sales and Lease Contracts 1) The seller’s or lessor’s general obligation is to transfer and deliver the goods to the buyer or lessee. Answer: […]
Business Law Chapter 21 1 Only written express warranties are valid
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 21 Warranties 1) Warranties are the buyer’s or lessee’s assurance that the goods meet certain standards. Answer: TRUE Diff: 1 Topic: Introduction to Warranties Skill: Legal Concepts 2) Only […]
Business Law Chapter 22 1 Negotiable instruments help in creating a credit economy
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 22 Creation of Negotiable Instruments 1) Article 3 of the UCC governs the use of negotiable instruments. Answer: TRUE Diff: 1 Topic: Negotiable Instruments Skill: Legal Concepts 2) The […]
Business Law Chapter 23 1 Negotiable instruments are used as a substitute for money
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 23 Holder in Due Course and Transferability 1) Negotiable instruments are used as a substitute for money. Answer: TRUE Diff: 1 Topic: Introduction to Holder in Due Course and […]
Business Law Chapter 24 1 Signature liability is applicable to bearer papers
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 24 Liability, Defenses, and Discharge 1) A person cannot be held contractually liable on a negotiable instrument unless his or her signature appears on it. Answer: TRUE Diff: 1 […]
Business Law Chapter 26 1 The Time Allotted Which Mortgagee Must Start
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 26 Credit, Mortgages, and Debtor’s Rights 1) The property on which a security interest is taken is called collateral. Answer: TRUE Diff: 1 Topic: Introduction to Credit, Mortgages, and […]
Business Law Chapter 27 1 The property in which a security interest is taken is called collateral
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 27 Secured Transactions and E-Filing 1) The property in which a security interest is taken is called collateral. Answer: TRUE Diff: 1 Topic: Introduction to Secured Transactions and E-Filing […]
Business Law Chapter 28 1 There are separate state and federal bankruptcy laws
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 28 Bankruptcy and Reorganization 1) The Bankruptcy Reform Act of 1978 made it easier for debtors to file for bankruptcy and have their unpaid debts discharged. Answer: TRUE Diff: […]
Business Law Chapter 29 1 Agency law is a mixture of tort and contract laws
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 29 Agency Formation and Termination 1) Agency law is a mixture of tort and contract laws. Answer: TRUE Diff: 1 Topic: Introduction to Agency Formation and Termination Skill: Legal […]
Business Law Chapter 3 1 To initiate a lawsuit, the plaintiff must file an appeal in the proper court
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 3 Judicial, Alternative, and E-Dispute Resolution 1) The paperwork that is filed with the court to initiate and respond to a lawsuit is referred to as the pleadings. Answer: […]
Business Law Chapter 30 1 The Injured Person Can Sue Open Heart
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 30 Liability of Principals, Agents, and Independent Contractors 1) The duty of loyalty is a fiduciary duty owned by an agent not to act adversely to the interests of […]
Business Law Chapter 31 1 Private civil actions are also permitted under the FLSA.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 31 Employment, Worker Protection, and Immigration Law 1) Before the Industrial Revolution, the doctrine of laissez-faire governed the employment relationship in the United States. Answer: TRUE Diff: 1 Topic: […]
Business Law Chapter 32 1 Most union elections are contested by the employer.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 32 Labor Law and Collective Bargaining 1) Labor unions have the right to engage in picketing in support of their positions. Answer: TRUE Diff: 1 Topic: Introduction to Labor […]
Business Law Chapter 33 1 To claim under disparate-treatment discrimination
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 33 Equal Opportunity in Employment 1) The Equal Employment Opportunity Commission is the federal administrative agency that is responsible for enforcing most federal antidiscrimination laws. Answer: TRUE Diff: 1 […]
Business Law Chapter 34 1 A sole proprietor is legally responsible for the business’s contracts
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 34 Small Business, Entrepreneurship, and General Partnerships 1) An entrepreneur is a person who forms and operates a business. Answer: TRUE Diff: 1 Topic: Entrepreneurship Skill: Legal Concepts 2) […]
Business Law Chapter 35 1 A limited partnership cannot have general partners
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 35 Limited Partnerships and Special Partnerships 1) In most states, the formation, operation, and termination of limited partnerships are regulated by the Revised Uniform Limited Partnership Act. Answer: TRUE […]
Business Law Chapter 36 1 The Corporation Can Engage Other Purposes or Activities a
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 36 Corporate Formation and Financing 1) Corporation codes regulate the formation, operation, and dissolution of corporations. Answer: TRUE Diff: 1 Topic: Nature of the Corporation Skill: Legal Concepts 2) […]
Business Law Chapter 37 1 Shareholders of a corporation act as agents of the corporation
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 37 Corporate Governance and the Sarbanes-Oxley Act 1) One of the powers of a shareholder is his or her right to elect the board of directors. Answer: TRUE Diff: […]
Business Law Chapter 38 1 A proxy card authorizes another person to vote the shareholder’s shares.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 38 Corporate Acquisitions and Multinational Corporations 1) Shareholder approval is required to make fundamental changes in a corporation. Answer: FALSE Diff: 1 Topic: Introduction to Corporate Acquisitions and Multinational […]
Business Law Chapter 39 1 Limited liability companies are created by federal law.
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 39 Limited Liability Companies and Limited Liability Partnerships 1) A limited liability company is an incorporated business entity. Answer: FALSE Diff: 1 Topic: Limited Liability Company (LLC) Skill: Legal […]
Business Law Chapter 4 1 Georgia Can Stop Trading With Kingsland Without
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 4 Constitutional Law for Business and E-Commerce 1) The primary purpose of the Constitutional Convention of 1787 was to limit the power of the federal government and restrict it […]
Business Law Chapter 40 1 Trade Secrets Franchisor Not Qualify For Patent
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 40 Franchises and Special Forms of Businesses 1) A franchisee is established when parties of a general partnership conduct business outside the state of their incorporation. Answer: FALSE Diff: […]
Business Law Chapter 42 1 All laws are framed to meet the highest ethical standards
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 42 Ethics and Social Responsibility of Business 1) All laws are framed to meet the highest ethical standards. Answer: FALSE Diff: 1 Topic: Ethics and the Law Skill: Legal […]
Business Law Chapter 43 1 Regulatory statutes can be termed as administrative laws
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 43 Administrative Law and Regulatory Agencies 1) Administrative laws are laws enacted by governments to regulate the operation of government employees and government-run organizations. Answer: FALSE Diff: 1 Topic: […]
Business Law Chapter 44 The FDA cannot withdraw approval of any previously licensed drug
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 44 Consumer Protection and Product Safety 1) The U.S. Food and Drug Administration promotes the principle of caveat emptor in sale transactions involving food and drugs. Answer: FALSE Diff: […]
Business Law Chapter 45 1 Oil refineries are an example of stationary sources of air pollution
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 45 Environmental Protection 1) The Environmental Protection Agency lacks adjudicative powers to hold hearings and order remedies for violation of environmental laws. Answer: FALSE Diff: 1 Topic: Environmental Protection […]
Business Law Chapter 46 1 Federal antitrust laws provide only for government lawsuits
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 46 Antitrust Law and Unfair Trade Practices 1) The antitrust laws were enacted to promote anticompetitive behavior in commerce and industry. Answer: FALSE Diff: 1 Topic: Introduction to Antitrust […]
Business Law Chapter 47 1 Topic Ownership Personal Property Skill Legal Concepts
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 47 Personal Property and Bailment 1) Personal property includes land and property that is permanently attached to it. Answer: FALSE Diff: 1 Topic: Personal Property Skill: Legal Concepts 2) […]
Business Law Chapter 48 1 Subsurface Rights Cannot Used Mine Radioactive Elements b
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 48 Real Property 1) Buildings constructed on land are considered personal property. Answer: FALSE Diff: 1 Topic: Real Property Skill: Legal Concepts 2) A bridge would be an example […]
Business Law Chapter 48 2 During The Marriage Jonass Real Estate Has
Copyright © 2013 Pearson Education, Inc. 61) Karen, Kelsey, Rita, and Lizzi own a large commercial building as concurrent owners. They are tenants with the right to survivorship. Lizzi transfers her one-quarter interest in the building to a private charity […]
Business Law Chapter 49 1 A landlord’s right to receive rent is not transferable
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 49 Landlord-Tenant Law and Land Use Regulation 1) In a landlord-tenant relationship, the tenant receives a nonfreehold estate in the real property. Answer: TRUE Diff: 1 Topic: Landlord-Tenant Relationship […]
Business Law Chapter 5 1 Julia Roberts Image Without Her Consent Depict
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 5 Intentional Torts and Negligence 1) Actual physical contact is not necessary for a tort to be considered an assault. Answer: TRUE Diff: 1 Topic: Intentional Torts Skill: Legal […]
Business Law Chapter 50 1 An insurance contract is called a policy
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 50 Insurance 1) Insurance is a form of coverage for loss that is initiated after the loss has occurred. Answer: FALSE Diff: 1 Topic: Introduction to Insurance Skill: Legal […]
Business Law Chapter 51 1 Third parties cannot sue accountants for breach of contract
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 51 Accountants’ Duties and Liability 1) A person who practices as an accountant, but is not certified, is referred to as a public accountant. Answer: TRUE Diff: 1 Topic: […]
Business Law Chapter 52 1 A will can be created to come into effect during one’s lifetime
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 52 Wills, Trusts, and Estates 1) A will can be created to come into effect during one’s lifetime. Answer: FALSE Diff: 1 Topic: Introduction to Wills, Trusts, and Estates […]
Business Law Chapter 53 1 A divorce is the only legal method of terminating a marriage
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 53 Family Law 1) A person who backs out of a promise to marry can be liable for punitive damages under the law. Answer: FALSE Diff: 1 Topic: Premarriage […]
Business Law Chapter 54 1 The euro can only be used in countries that are part of the eurozone
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 54 International and World Trade Law 1) The U.S. Constitution divides the power to regulate foreign affairs equally between the federal and state governments. Answer: FALSE Diff: 1 Topic: […]
Business Law Chapter 6 1 However They Come With Tiny Detach able we pons That
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 6 Product and Strict Liability 1) The liability of manufacturers, sellers, lessors, and others for injuries caused by defective products is commonly referred to as product liability. Answer: TRUE […]
Business Law Chapter 7 1 Competitor Can Lawfully Use Rivals Trade
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 7 Intellectual Property and Cyber Piracy 1) Intellectual property falls into a category of property known as intangible rights. Answer: TRUE Diff: 1 Topic: Intellectual Property Skill: Legal Concepts […]
Business Law Chapter 8 1 the government is represented by a lawyer called defense attorney
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 8 Criminal Law and Cyber Crimes 1) A person charged with a crime in the United States is presumed guilty until proven innocent. Answer: FALSE Diff: 1 Topic: Introduction […]
Business Law Chapter 9 1 Traditional contract rules do not apply to e-contracts
Copyright © 2013 Pearson Education, Inc. Business Law, 8e (Cheeseman) Chapter 9 Nature of Traditional and E-Contracts 1) Ross makes an offer to Elizabeth to sell his automobile to her for $10,000. In this case, Ross is the offeree and […]