Business Law: Legal Environment Online Commerce Business Ethics and International Issues 9th Edition

ISBN 13
978-0134004006
ISBN 10
0134004000
Authors
Henry R. Cheeseman
has exam prep Exam Prep  has homework help Homework Help
310 documents found.
539739
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978-0134004006 Chapter 1 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 1 Legal Heritage and the Digital Age VI. Answer to Critical Legal Thinking Case 1.1 Fairness of the Law Many students will react that the statute is unfair as it
Business Law: Legal Environment Online Commerce Business Ethics and International Issues 9th Edition
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978-0134004006 Chapter 1 Lecture Note
1 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Where there is no law, there is no freedom. John Locke I. Teacher to Teacher Dialogue One of
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978-0134004006 Chapter 10 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 10 Agreement VI. Answers to Critical Legal Thinking Cases 10.1 Mirror Image Rule No. The court of appeal applied the mirror image rule and held that no contract had been
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978-0134004006 Chapter 10 Lecture Note
85 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. When I use a word, Humpty Dumpty said, in rather a scornful tone, it means just what I choose it to
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978-0134004006 Chapter 11 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 11 Consideration and Promissory Estoppel VI. Answers to Critical Legal Thinking Cases 11.1 Gift Promise No. Presleys promise to pay the mortgage is not enforceable. Presleys promise to pay Ms.
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978-0134004006 Chapter 11 Lecture Note
91 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The law has outgrown its primitive stage of formalism when the precise word was the sovereign talisman, and every slip was fatal. It
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978-0134004006 Chapter 12 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 12 Capacity and Legality VI. Answers to Critical Legal Thinking Cases 12.1 Minor Yes. Fountains estate is liable to Yale under the doctrine of necessaries. The general rule is that
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978-0134004006 Chapter 12 Lecture Note
96 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. An unconscionable contract is one which no man in his senses, not under delusion, would make, on the one hand, and which no
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978-0134004006 Chapter 13 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 13 Genuineness of Assent and Undue Influence VI. Answers to Critical Legal Thinking Cases 13.1 Unilateral Mistake Yes, Schultz can rescind the contract. A unilateral mistake occurs when only one
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978-0134004006 Chapter 13 Lecture Note
104 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Freedom of contract begins where equality of bargaining power begins. Oliver Wendell Holmes, Jr. I. Teacher to Teacher
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978-0134004006 Chapter 14 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 14 Statute of Frauds and Equitable Exceptions VI. Answers to Critical Legal Thinking Cases 14.1 Statute of Frauds No, Hoffman and Frey do not win. Pursuant to the Statute of
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978-0134004006 Chapter 14 Lecture Note
110 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. A verbal contract isnt worth the paper its written on. A verbal contract isnt worth the paper its written on.
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978-0134004006 Chapter 15 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 15 Third-Party Rights and Discharge VI. Answers to Critical Legal Thinking Cases 15.1 Intended or Incidental Beneficiary Ramos/Carson/DePaul (RCD) was an incidental beneficiary of the Phillies-DH agreement. RCD was not
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978-0134004006 Chapter 15 Lecture Note
117 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. An honest mans word is as good as his bond. Don Quixote I. Teacher to Teacher Dialogue The materials
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978-0134004006 Chapter 16 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 16 Breach of Contract and Remedies VI. Answers to Critical Legal Thinking Cases 16.1 Liquidated Damages Yes, the liquidated damage clause is enforceable and 845 UN Limited Partnership (845 UN)
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978-0134004006 Chapter 16 Lecture Note
126 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Contracts must not be sports of an idle hour, mere matters of pleasantry and badinage, never intended by the parties to have any
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978-0134004006 Chapter 17 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 17 Digital Law and E-Commerce VI. Answers to Critical Legal Thinking Cases 17.1 Cybersquatting Ernest & Julio Gallo Winery (Gallo) wins. Gallo registered the trademark Ernest & Julio Gallo in
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978-0134004006 Chapter 17 Lecture Note
135 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Through the use of chat rooms, any person with a phone line can become a town crier with a voice that resonates farther than it could from
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978-0134004006 Chapter 18 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 18 Formation of Sales and Lease Contracts VI. Answers to Critical Legal Thinking Cases 18.1 Good or Service No, Article 2 does not apply to this transaction. Article 2 applies
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978-0134004006 Chapter 18 Lecture Note
143 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Commercial law lies within a narrow compass, and is far purer and freer from defects than any other part of the system. Commercial law lies within
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978-0134004006 Chapter 19 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 19 Title to Goods and Risk of Loss VI. Answers to Critical Legal Thinking Cases 19.1 Conditional Sale Prewitt wins. Prewitt is not responsible for the loss of the coins
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978-0134004006 Chapter 19 Lecture Note
151 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. A lawyer without history or literature is a mechanic, a mere working mason; if he possesses some knowledge of these, he may venture to
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978-0134004006 Chapter 2 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 2 Courts and Jurisdiction VI. Answers to Critical Legal Thinking Cases 2.1 Personal Jurisdiction No, defendants Live Siri Art, Inc. and Siri Galliano are not subject to lawsuit in
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978-0134004006 Chapter 2 Lecture Note
9 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. I was never ruined but twice: once when I lost a lawsuit, and once when I won one. I was never ruined but twice:
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978-0134004006 Chapter 20 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 20 Remedies for Breach of Sales and Lease Contracts VI. Answers to Critical Legal Thinking Cases 20.1 Nonconforming Goods Hartz wins the lawsuit based upon the buyers right to reject
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978-0134004006 Chapter 20 Lecture Note
157 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Trade and commerce, if they were not made of Indian rubber, would never manage to bounce over the obstacles which legislators are
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978-0134004006 Chapter 21 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 21 Warranties VI. Answers to Critical Legal Thinking Cases 21.1 Express Warranty Yes. An express warranty was made by Ashe regarding the quality of the diamonds in the bracelet. The
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978-0134004006 Chapter 21 Lecture Note
165 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. When a manufacturer engages in advertising in order to bring his goods and their quality to the attention of the public and thus
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978-0134004006 Chapter 22 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 22 Creation of Negotiable Instruments VI. Answers to Critical Legal Thinking Cases 22.1 Negotiable Instrument Yes, the note executed by Dr. Bailey was a negotiable instrument. To be a negotiable
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978-0134004006 Chapter 22 Lecture Note
170 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The great object of the law is to encourage commerce. Judge Chambre I. Teacher to Teacher Dialogue
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978-0134004006 Chapter 23 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 23 Holder in Due Course and Transferability VI. Answers to Critical Legal Thinking Cases 23.1 Payable Jointly No, Johnsons signature alone was not sufficient to negotiate the check to Midland.
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978-0134004006 Chapter 23 Lecture Note
178 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. A negotiable bill or note is a courier without luggage. Chief Justice Gibson I. Teacher to Teacher Dialogue Because negotiable
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978-0134004006 Chapter 24 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 24 Liability, Defenses, and Discharge VI. Answers to Critical Legal Thinking Cases 24.1 Transfer Warranty No, the Pontiac State Bank is not liable to Matco for breach of a transfer
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978-0134004006 Chapter 24 Lecture Note
184 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. If one wants to know the real value of money, he needs but to borrow some from If one wants to
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978-0134004006 Chapter 25 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 25 Banking System and Electronic Financial Transactions VI. Answers to Critical Legal Thinking Cases 25.1 Cashiers Check Wood wins, because Woods stop-payment order should not have been effective. A cashiers
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978-0134004006 Chapter 25 Lecture Note
192 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Bankers have no right to establish a customary law among themselves, at the expense of other men. Justice Foster
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978-0134004006 Chapter 26 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 26 Credit, Real Property Financing, and Debtors Rights Credit, Real Property Financing, and Debtors Rights Credit, Real Property Financing, and Debtors Rights VI. Answers to Critical Legal Thinking Cases 26.1
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978-0134004006 Chapter 26 Lecture Note
201 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Creditors have better memories than debtors. Benjamin Franklin I. Teacher to Teacher Dialogue One of the difficulties in
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978-0134004006 Chapter 27 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 27 Secured Transactions VI. Answers to Critical Legal Thinking Cases 27.1 Financing Statement No. The bankruptcy court held that creditor PSC Metals, Inc.s filing of the financing statement under the
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978-0134004006 Chapter 27 Lecture Note
210 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Debtors are liars. George Herbert I. Teacher to Teacher Dialogue The study of secured transactions allows teachers to
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978-0134004006 Chapter 28 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 28 Bankruptcy and Reorganization VI. Answers to Critical Legal Thinking Cases 28.1 Bankruptcy Estate No, the debtors jewelry does not qualify as necessary and proper wearing apparel and is therefore
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978-0134004006 Chapter 28 Lecture Note Part 1
218 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. A trifling debt makes a man your debtor; a large one makes him your enemy. Seneca I. Teacher to Teacher
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978-0134004006 Chapter 28 Lecture Note Part 2
Chapter 28 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 224 Debtor-in-Possession The debtor-in-possession is empowered to operate the debtors business during the bankruptcy proceeding. This power includes authority to enter into contracts, purchase Debtor-in-Possession The debtor-in-possession is empowered to operate
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978-0134004006 Chapter 29 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 29 Agency Formation and Termination VI. Answers to Critical Legal Thinking Cases 29.1 Scope of Employment No. The court held that James Goldick, an employee of Lapp Roofing and Sheet
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978-0134004006 Chapter 29 Lecture Note
229 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Let every eye negotiate for itself, and trust no agent. Let every eye negotiate for itself, and trust no agent. Let
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978-0134004006 Chapter 3 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 3 Judicial, Alternative, and E-Dispute Resolution VI. Answers to Critical Legal Thinking Cases 3.1 Summary Judgment No, the defendants motions for summary judgment should not be granted.
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978-0134004006 Chapter 3 Lecture Note Part 1
Chapter 3 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 18 Were the jury. Dread our fury! William S. Gilbert I. Teacher to Teacher Dialogue
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978-0134004006 Chapter 3 Lecture Note Part 2
Chapter 3 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 24 Mediation Mediation calls for a neutral third party to act as a mediator, but not decision maker. His job is to encourage settlement between the parties. If the two sides
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978-0134004006 Chapter 30 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 30 Liability of Principals, Agents, and Independent Contractors VI. Answers to Critical Legal Thinking Cases 30.1 Frolic and Detour No. The court held that Spires was not acting within the
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978-0134004006 Chapter 30 Lecture Note
236 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The law, wherein, as in a magic mirror, we see reflected not only our lives, but the lives of all men that have
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978-0134004006 Chapter 31 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 31 Employment, Worker Protection, and Immigration Law VI. Answers to Critical Legal Thinking Cases 31.1 Workers Compensation Yes. Medranos actions at the time of the automobile accident were within the
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978-0134004006 Chapter 31 Lecture Note
243 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. It is difficult to imagine any grounds, other than our own personal economic predilections, for saying that the contract of employment
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978-0134004006 Chapter 32 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 32 Labor Law VI. Answers to Critical Legal Thinking Cases 32.1 Unfair Labor Practice Yes, the president of the Sinclair Company violated federal labor law by unlawfully interfering with the
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978-0134004006 Chapter 32 Lecture Note
251 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Strong responsible unions are essential to industrial fair play. Without them the labor bargain is wholly one-sided. Louis D. Brandeis
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978-0134004006 Chapter 33 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 33 Equal Opportunity in Employment VI. Answers to Critical Legal Thinking Cases 33.1 Sexual Harassment Yes, an employer can be held liable when the sexual harassment conduct of its
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978-0134004006 Chapter 33 Lecture Note
260 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. What people have always sought is equality of rights before the law. For rights that were not open to all equally would
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978-0134004006 Chapter 34 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 34 Small Business, Entrepreneurship, and General Partnerships VI. Answers to Critical Legal Thinking Cases 34.1 Sole Proprietorship No. Jerry Schuster is not liable for the warranty made by his father.
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978-0134004006 Chapter 34 Lecture Note
270 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. One of the most fruitful sources of ruin to men of the world is the reckless or want of principle of partners,
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978-0134004006 Chapter 35 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 35 Limited Partnerships and Special Partnerships VI. Answers to Critical Legal Thinking Cases 35.1 Liability of Limited Partners No, the limited partners are not individually liable to Day. A limited
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978-0134004006 Chapter 35 Lecture Note
279 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. There are a great many of us who will adhere to that ancient principle that we preferred to be governed by the power of
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978-0134004006 Chapter 36 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 36 Corporate Formation and Financing VI. Answers to Critical Legal Thinking Cases 36.1 Legal Entity Yes, Deister Corporation can be sued. Corporations are the most dominant form of business organization
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978-0134004006 Chapter 36 Lecture Note Part 1
285 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. A corporation is an artificial being, invisible, intangible, and existing only in the contemplation of law. Being the mere creature of the
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978-0134004006 Chapter 36 Lecture Note Part 2
Corporate Formation and Financing Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 291 Implied Powers Implied powers allow a corporation to exceed its express powers in order to Implied Powers Implied powers allow a corporation to exceed its express powers in
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978-0134004006 Chapter 37 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 37 Corporate Governance and Sarbanes-Oxley-Act VI. Answers to Critical Legal Thinking Cases 37.1 Proxy No, Smith and Gibbons cannot reverse their proxy agreement with Zollar. A normal proxy, unless otherwise
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978-0134004006 Chapter 37 Lecture Note Part 1
297 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Corporation: An ingenious device for obtaining individual profit without individual Corporation: An ingenious device for obtaining individual profit without individual
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978-0134004006 Chapter 37 Lecture Note Part 2
Corporate Governance and Sarbanes-Oxley Act Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 303 The Business Judgment Rule The business judgment rule states that officers and directors are not liable for honest mistakes of judgment. The Business Judgment Rule The business
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978-0134004006 Chapter 38 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 38 Corporate Acquisitions and Multinational Corporations VI. Answers to Critical Legal Thinking Cases 38.1 Shareholder Resolution Yes, the Medical Committees proposed shareholder resolution could be stated in terms to meet
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978-0134004006 Chapter 38 Lecture Note
308 Copyright 2016 Pearson Education, Inc. To supervise wisely the great corporations is well; but to look backwards to the days when business was polite pillage and regard our great business concerns as piratical institutions carrying letters
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978-0134004006 Chapter 39 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 39 Limited Liability Companies and Limited Liability Partnerships VI. Answers to Critical Legal Thinking Cases 39.1 Limited Liability Yes. The plaintiffs who sued Bone are required to pay the legal
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978-0134004006 Chapter 39 Lecture Note
317 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Justice is the end of government. It is the end of civil society. It ever has been, and ever will be pursued, until
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978-0134004006 Chapter 4 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 4 Constitutional Law for Business and E-Commerce VI. Answers to Critical Legal Thinking Cases 4.1 Supremacy Clause Yes. The U.S. Supreme Court held that the Massachusetts anti-Myanmar law conflicted with federal
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978-0134004006 Chapter 4 Lecture Note Part 1
Constitutional Law for Business and E-Commerce Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 29 We the People of the United States, in Order to form a more perfect Union,
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978-0134004006 Chapter 4 Lecture Note Part 2
Constitutional Law for Business and E-Commerce Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 35 The Equal Protection Clause prohibits state, local, and federal governments from treating persons that are similarly situated differently, including corporations. The Equal Protection Clause
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978-0134004006 Chapter 40 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 40 Franchise and Special Forms of Business VI. Answers to Critical Legal Thinking Cases 40.1 Agency No, Re/Max International, Inc. (Re/Max) is not liable for the automobile accident caused by
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978-0134004006 Chapter 40 Lecture Note
325 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. It has been uniformly laid down in this Court, as far back as we can remember, that good faith is the basis of
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978-0134004006 Chapter 41 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 41 Investor Protection and E-Securities Transactions VI. Answers to Critical Legal Thinking Cases 41.1 Definition of a Security The notes issued by the Co-Op are securities. In order for the
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978-0134004006 Chapter 41 Lecture Note Part 1
334 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. When there is blood on the street, I am buying. Nathaniel Mayer Victor Rothschild I. Teacher to Teacher Dialogue
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978-0134004006 Chapter 41 Lecture Note Part 2
Chapter 41 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 340 436 F.3d 1140, 2006 U.S. App. Lexis 3008 (2006), United States Court of Appeals for the Ninth 436 F.3d 1140, 2006 U.S. App. Lexis 3008 (2006), United States Court of
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978-0134004006 Chapter 42 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 42 Ethics and Social Responsibility of Business VI. Answers to Critical Legal Thinking Cases 42.1 False Advertising No. Papa Johns advertising slogan Better Ingredients. Better Pizza is not false advertising.
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978-0134004006 Chapter 42 Lecture Note
346 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Ethical considerations can no more be excluded from the administration of justice, which is the end and purpose of all civil laws, than one
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978-0134004006 Chapter 43 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 43 Administrative Law and Regulatory Agencies VI. Answers to Critical Legal Thinking Cases 43.1 Government Regulation Yes, the Federal Communications Commissions (FCC) regulation and censoring of Pacifica Foundation (Pacifica) in
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978-0134004006 Chapter 43 Lecture Note
351 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Good government is an empire of laws. John Adams I. Teacher to Teacher Dialogue An acquaintance of
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978-0134004006 Chapter 44 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 44 Consumer Protection and Product Safety VI. Answers to Critical Legal Thinking Cases 44.1 Food Regulation Yes, Engel and Gel Spice violated the section of the Federal Food Drug and
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978-0134004006 Chapter 44 Lecture Note
358 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. I should regret to find that the law was powerless to enforce the most elementary principles of commercial morality. Lord Herschell
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978-0134004006 Chapter 45 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 45 Environmental Protection VI. Answers to Critical Legal Thinking Cases 45.1 Wetlands The Army Corps of Engineers (Army Corps) prevail pursuant to the Clean Water Act (CWA). The CWA provides
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978-0134004006 Chapter 45 Lecture Note
365 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. All animals are equal but some animals are more equal than others. All animals are equal but some animals are more equal than others. All
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978-0134004006 Chapter 46 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 46 Antitrust Law and Unfair Trade Practices VI. Answers to Critical Legal Thinking Cases 46.1 Division of Markets Yes, BRG of Georgia, Inc. (BRG) and Harcourt Brace Jovanovich (HBJ) are
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978-0134004006 Chapter 46 Lecture Note Part 1
372 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. While competition cannot be created by statutory enactment, it can in large measure be revived by changing the laws and forbidding
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978-0134004006 Chapter 46 Lecture Note Part 2
Antitrust Law and Unfair Trade Practices Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 379 prices, producing an actual injury to the plaintiff. If the plaintiff has not suffered an actual injury, prices, producing an actual injury to the plaintiff. If
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978-0134004006 Chapter 47 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 47 Personal Property and Bailment VI. Answers to Critical Legal Thinking Cases 47.1 Mislaid Property The money was mislaid property. Mislaid property is property that is intentionally put into a
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978-0134004006 Chapter 47 Lecture Note
385 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Property and law are born and must die together. Property and law are born and must die together. Property and law
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978-0134004006 Chapter 48 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 48 Real Property VI. Answers to Critical Legal Thinking Cases 48.1 Recording Statute No. Howard Savings Banks mortgage on the property was not properly recorded and indexed and therefore did
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978-0134004006 Chapter 48 Lecture Note
394 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Without that sense of security which property gives, the land would still be uncultivated. Francois Quesnay I. Teacher to
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978-0134004006 Chapter 49 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 49 Landlord-Tenant Law and Land Use Regulation VI. Answers to Critical Legal Thinking Cases 49.1 Americans with Disabilities Act Yes. Cinemarks wheel-chair seating arrangement in its stadium-style theaters violates Standard
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978-0134004006 Chapter 49 Lecture Note
404 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Good fences make good neighbors. Robert Frost I. Teacher to Teacher Dialogue One sure way to engage student
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978-0134004006 Chapter 5 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 5 Intentional Torts and Negligence VI. Answers to Critical Legal Thinking Cases 5.1 Assumption of the Risk Yes, riding the mechanical bull was an open and obvious danger for which
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978-0134004006 Chapter 5 Lecture Note
Chapter 5 Copyright 2016 Pearson Education, Inc. 40 Copyright 2016 Pearson Education, Inc. 40 Copyright 2016 Pearson Education, Inc. 40 Negligence is not actionable unless it involves the invasion of a legally protected interest, the violation of
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978-0134004006 Chapter 50 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 50 Insurance VI. Answers to Critical Legal Thinking Cases 50.1 Exclusion from Insurance Policy No, this accident is not covered by the homeowners policy issued by National America. Although most
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978-0134004006 Chapter 50 Lecture Note
412 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The underwriter knows nothing and the man who comes to him to ask him to insure knows everything. L. J. Scrutton
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978-0134004006 Chapter 51 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 51 Accountants Duties and Liability VI. Answers to Critical Legal Thinking Cases 51.1 Accountants Liability to a Third Party No, George Korbakes & Company, LLP (GKCO), the auditor of Brandon
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978-0134004006 Chapter 51 Lecture Note
420 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. In our complex society the accountants certificate and the lawyers opinion can be instruments for inflicting pecuniary loss more potent than the chisel
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978-0134004006 Chapter 52 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 52 Wills, Trusts, and Estates VI. Answers to Critical Legal Thinking Cases 52.1 Ademption Yes, the bequests to Anderson and Baker were specific bequests that were adeemed when the stock
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978-0134004006 Chapter 52 Lecture Note
430 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. When you have told someone you have left him a legacy, the only decent thing to do is to die at once.
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978-0134004006 Chapter 53 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 53 Family Law VI. Answers to Critical Legal Thinking Cases 53.1 Marital Assets Mississippi follows the doctrine of equitable distribution. However, since this doctrine refers to a fair distribution and
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978-0134004006 Chapter 53 Lecture Note
439 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The happiest moments of my life have been the few which I have passed at home in the bosom of my family. Thomas Jefferson
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978-0134004006 Chapter 54 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 54 International and World Trade Law VI. Answers to Critical Legal Thinking Cases 54.1 Foreign Sovereign Immunity Yes. Argentina is subject to the lawsuit in the United States. The commercial
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978-0134004006 Chapter 54 Lecture Note
446 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. International law, or the law that governs between nations, has at times, been like the common law within states, a twilight existence during
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978-0134004006 Chapter 6 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 6 Product and Strict Liability VI. Answers to Critical Legal Thinking Cases 6.1 Defect in Design Yes, Doncasters, Inc. is strictly liable for the death of the deceased parties of
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978-0134004006 Chapter 6 Lecture Note
Strict Liability and Product Liability Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 49 A manufacturer is strictly liable in tort when an article he places on the market, knowing
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978-0134004006 Chapter 7 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 7 Intellectual Property and Cyber Piracy VI. Answers to Critical Legal Thinking Cases 7.1 Patent No, the claimed invention is not patentable. In order to be patentable, the claimed invention
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978-0134004006 Chapter 7 Lecture Note
Chapter 7 56 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. The Congress shall have the power...to promote the Progress of Science and useful Arts, by securing for limited Times to
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978-0134004006 Chapter 8 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 8 Criminal Law and Cybercrime VI. Answers to Critical Legal Thinking Cases 8.1 Search and Seizure No. The police officers use of the global positioning system (GPS) without first obtaining
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978-0134004006 Chapter 8 Lecture Note Part 1
Chapter 8 66 Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. In our complex society the accountants certificate and the lawyers opinion can be instruments for inflicting pecuniary loss more potent than
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978-0134004006 Chapter 8 Lecture Note Part 2
Criminal Law and Cyber Crimes Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 73 The Fifth Amendment provides that no person can be compelled in any criminal case to give evidence against him/herself. We speak of those asserting
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978-0134004006 Chapter 9 Case
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 1 Chapter 9 Nature of Traditional and E-Contracts VI. Answers to Critical Legal Thinking Cases 9.1 Implied-in-Fact Contract Yes. There was an implied-in-fact contract between the parties. The law allows
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978-0134004006 Chapter 9 Lecture Note
Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. Copyright 2016 Pearson Education, Inc. 79 The movement of the progressive societies has hitherto been a movement from The movement of the progressive societies has hitherto been a
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JD 104 Homework
In an auction without reserve, the seller is the offeree. Answer: FALSE Answer: FALSE Answer: FALSE Collision insurance covers damages to a car in a natural disaster. Answer: FALSE Answer: FALSE Answer: FALSE A voluntary petition is a petition filed by a creditor that states that the debtor has paid his debts. Answer: FALSE Answer: FALSE Answer: FALSE In a case in
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JD 110 Quiz 2
Violations of generally accepted accounting principles (GAAPs) or generally accepted auditing standards (GAASs), or International Financial Reporting Standards (IFRSs), if applicable, are prima facie evidence of negligence in any court action. Answer: TRUE Answer: TRUE Answer: TRUE An orally agreed upon power of attorney is acceptable in court. Answer: FALSE Answer: FALSE Answer: FALSE A substituted contract substitutes
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JD 127 Midterm
The Worker Adjustment and Retraining Notification (WARN) Act is a federal act that requires employers with 100 or more employees to give their employees 60 days' notice before engaging in certain plant closings or layoffs. Answer: TRUE Answer: TRUE Answer: TRUE Objective theory of contracts states that the intent to contract is judged by the
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JD 127 Quiz 3
Private civil actions are permitted under the Fair Labor Standards Act. Answer: TRUE Answer: TRUE Answer: TRUE Under common law, the inclusion of additional terms in the acceptance of an offer is considered a counteroffer rather than an acceptance. Answer: TRUE Answer: TRUE Answer: TRUE Section 2 of the Sherman Act prohibits the act of monopolization. Answer: TRUE Answer: TRUE Answer:
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JD 139
A contract is considered to be supported by legal value if the promisor suffers a legal detriment. Answer: FALSE Answer: FALSE Answer: FALSE If a delegatee has not assumed the duties under a contract, the delegatee is not liable to the obligee for nonperformance. Answer: TRUE Answer: TRUE Answer: TRUE A defendant is protected by the Double Jeopardy
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JD 157 Homework
A disclaimer of opinion is a clause in auditing that a company can claim wherein the auditor is not allowed to access a high-priority portion of a company's financial records. Answer: FALSE Answer: FALSE Answer: FALSE A sole proprietor is legally responsible for the business's contracts. Answer: TRUE Answer: TRUE Answer: TRUE The Robinson-Patman Act is a federal
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JD 232 Quiz 3
In case a corporation's assets are liquidated, the preferred stockholders are paid before common stockholders. Answer: TRUE Answer: TRUE Answer: TRUE Rubber-stamps are not recognized as signing instruments under the Uniform Commercial Code (UCC). Answer: FALSE Answer: FALSE Answer: FALSE An insurer will issue an umbrella policy only if a stipulated minimum amount of basic coverage on other
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JD 257 Midterm
The patent term begins to run from the date the patent is issued. Answer: FALSE Answer: FALSE Answer: FALSE Section 5 of the Federal Trade Commission (FTC) Act can be used to prohibit unfair and deceptive business practices. Answer: TRUE Answer: TRUE Answer: TRUE A person can sue for nonperformance even if it is an illegal contract. Answer: FALSE Answer:
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JD 260 Midterm 1
ISPs are not liable for the content transmitted over their networks by e-mail users and websites. Answer: TRUE Answer: TRUE Answer: TRUE A party in a contract that uses its bargaining power unfairly can render the contract unconscionable. Answer: TRUE Answer: TRUE Answer: TRUE Title VII of the Civil Rights Act of 1964 applies to employers with any
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JD 274 Midterm 2
The check collection process, which may involve multiple banks, is governed by Revised Article 3 of the UCC. Answer: FALSE Answer: FALSE Answer: FALSE Most Statutes of Frauds permit lease contracts that last for less than five years to be orally contracted. Answer: FALSE Answer: FALSE Answer: FALSE Instruments that are payable on demand are called order instruments. Answer:
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JD 274 Test 1
The merger of two grocery store chains that serve the same geographical market is an example of a horizontal merger. Answer: TRUE Answer: TRUE Answer: TRUE An agency by ratification occurs when a principal ratifies an authorized act. Answer: FALSE Answer: FALSE Answer: FALSE An easement is a form of real property security given by a borrower to
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JD 278 Final
If a lender extends unsecured credit to a debtor, the creditor takes no interest in any collateral to secure the loan. Answer: TRUE Answer: TRUE Answer: TRUE Negotiationis a procedure whereby the parties choose an impartial third party to hear and decide the dispute. Answer: FALSE Answer: FALSE Answer: FALSE Approval clauses require that the assignee approve any
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JD 323 Test 2
The statute of repose begins to run when the plaintiff suffers injury. Answer: FALSE Answer: FALSE Answer: FALSE Common carriers are held to a duty of strict liability. Answer: TRUE Answer: TRUE Answer: TRUE A person who is insane but not adjudged insane cannot void a contract he or she has entered into. Answer: FALSE Answer: FALSE Answer: FALSE An operating agreement
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JD 327 Quiz 1
If the landlord recovers from the assignor, the assignor has no course of action to recover from the assignee. Answer: FALSE Answer: FALSE Answer: FALSE A trademark is only issued if the registrant proves he has used the mark in commerce. Answer: TRUE Answer: TRUE Answer: TRUE In a draft transaction, the payee or the drawer is allowed
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JD 345
When a mutual mistake of value occurs, the contract remains enforceable by either party. Answer: TRUE Answer: TRUE Answer: TRUE All general partners have an equal right to participate in the managementof the general partnership business unless otherwise specified in the general partnership agreement. Answer: TRUE Answer: TRUE Answer: TRUE The registered office in the articles of incorporation
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JD 355 Final
One of the parties being intoxicated at the time of marriage is a ground for a legal annulment. Answer: TRUE Answer: TRUE Answer: TRUE Natural monopolies are found to violate Section 2 of the Sherman Act. Answer: FALSE Answer: FALSE Answer: FALSE The deferred posting rule allows banks to fix an afternoon hour of 2:00 P.M. or later
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JD 372
Setting of minimum resale prices is a rule of reason violation of Section 1 of the Sherman Act. Answer: FALSE Answer: FALSE Answer: FALSE The World Trade Organization (WTO) was created as a successor to the General Agreement on Tariffs and Trade (GATT). Answer: TRUE Answer: TRUE Answer: TRUE An agent does not owe a duty to notify
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JD 420
Distinctive marks are ordinary words or symbols that have acquired special meaning with a product or service. Answer: FALSE Answer: FALSE Answer: FALSE Implied warranties of quality cannot be disclaimed. Answer: FALSE Answer: FALSE Answer: FALSE Garnishment is a court order that permits the seizure of a debtor's property that is in the debtor's possession. Answer: FALSE Answer: FALSE Answer: FALSE Federal
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JD 449
The holder of a negotiable instrument has the same rights as the holder of an ordinary nonnegotiable contract. Answer: TRUE Answer: TRUE Answer: TRUE An easement contractoccurs when one person agrees to answer for the debts or duties of another person. Answer: FALSE Answer: FALSE Answer: FALSE Article 3 of the Uniform Commercial Code (UCC) governs the use of
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JD 465 Quiz 1
A divorce is the only method for legally terminating a marriage. Answer: FALSE Answer: FALSE Answer: FALSE The Due Process Clause of the U.S. Constitution grants Congress the power "to regulate commerce with foreign nations, and among the several states, and with Indian tribes." Answer: FALSE Answer: FALSE Answer: FALSE The primary function of collateral is to secure
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JD 480 Quiz 2
In all child custody cases, only the custodial parent has the right to make decisions on behalf of the child. Answer: FALSE Answer: FALSE Answer: FALSE A reward is a form of bilateral contract. Answer: FALSE Answer: FALSE Answer: FALSE A single failure by a franchisee to meet a quality-control standard is sufficient cause for termination. Answer: FALSE Answer: FALSE Answer:
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JD 493 Test 1
An LLC (limited liability company) is not liable for injury caused by an LLC member while acting within the ordinary course of business of the LLC. Answer: FALSE Answer: FALSE Answer: FALSE For conscious parallelism to be proven, each manufacturer should be found to have acted on its own. Answer: TRUE Answer: TRUE Answer: TRUE The good faith
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JD 502 Midterm 1
A risk utility analysis requires showing that a product is more dangerous than the ordinary consumer would expect. Answer: FALSE Answer: FALSE Answer: FALSE A complainant can file his or her claim of discrimination with a state fair employment practices agency instead of the Equal Employment Opportunity Commission (EEOC). Answer: TRUE Answer: TRUE Answer: TRUE Even in an
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JD 517
A sales contract evidenced by writing cannot be contradicted by a prior oral or written agreement. Answer: TRUE Answer: TRUE Answer: TRUE A landlord owes a duty to deliver possession of the leased premises to the lessee. Answer: TRUE Answer: TRUE Answer: TRUE A principal owes a duty to indemnify an agent for any losses the agent suffers
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JD 530 Homework
In most states, contracts for the sale of goods for $900 do not require to be in writing. Answer: FALSE Answer: FALSE Answer: FALSE The United States follows the principle of restricted immunity for suits against foreign nations. Answer: TRUE Answer: TRUE Answer: TRUE A participant in an activity covered by strict liability laws will be held liable
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JD 559 Quiz 1
If the object of a contract becomes illegal after the contract is entered into, the parties are discharged from the contract. Answer: TRUE Answer: TRUE Answer: TRUE To meet the mirror image rule, the offeree must accept the terms of the offer without modification. Answer: TRUE Answer: TRUE Answer: TRUE A buyer cannot revoke his acceptance if he
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JD 576 Quiz
A proxy contest is one in which incumbent directors are impeached. Answer: FALSE Answer: FALSE Answer: FALSE The Establishment Clause guarantees that there will be no state-sponsored religion. Answer: TRUE Answer: TRUE Answer: TRUE Advertising is categorized as limited protected speech. Answer: TRUE Answer: TRUE Answer: TRUE A written reconveyance transfers the title of a real property from the trustee. Answer: TRUE Answer: TRUE Answer:
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JD 637 Quiz
Under the European Union, customs duties have been eliminated among member nations. Answer: TRUE Answer: TRUE Answer: TRUE In an auction with reserve, the seller retains the right to refuse the highest bidder. Answer: TRUE Answer: TRUE Answer: TRUE A sole proprietor has limited personal liability. Answer: FALSE Answer: FALSE Answer: FALSE A special power of attorney empowers the agent to act
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JD 638
Article 2A of the UCC deals with lessors and lessees. Answer: TRUE Answer: TRUE Answer: TRUE A person who leases a single-family dwelling and does not own more than three single-family dwellings does not come under the purview of the Fair Housing Act of 1968. Answer: TRUE Answer: TRUE Answer: TRUE The federal Currency Reporting Law requires financial
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JD 674 Test
Lila, a newspaper columnist from Chicago, is unhappy with the soaring price of fuel in the U.S. She publishes an article that criticizes the government's refusal to offer gasoline at a subsidized price. This is an example of fully protected speech. Answer: TRUE Answer: TRUE Answer: TRUE In a finance lease, the lessor manufactures
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JD 685 Test 2
When a group of plaintiffs with common claims collectively bring a lawsuit against a defendant, it is known as consolidation. Answer: FALSE Answer: FALSE Answer: FALSE The FDA cannot recall any cosmetics that contain unsubstantiated claims of preserving youth or increasing virility from the market. Answer: FALSE Answer: FALSE Answer: FALSE Statutes are written laws that establish certain
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JD 692 Test 2
Nonperformance of a covenant is not considered a breach of contract because a covenant is an unconditional promise. Answer: FALSE Answer: FALSE Answer: FALSE One of the services provided by the Department of Homeland Security is emergency preparedness and response to terrorist incidents. Answer: TRUE Answer: TRUE Answer: TRUE Statutesare written laws that establish certain courses of conduct
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JD 741
It is legal for a union to begin a strike thirty days after it has informed the employer about the strike. Answer: FALSE Answer: FALSE Answer: FALSE A deceased joint tenant's will is effective over the right to survivorship. Answer: FALSE Answer: FALSE Answer: FALSE A contract made by a person who has not yet been adjudicated to
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JD 756 Quiz
The principal is liable for an innocent misrepresentation made by an agent acting within the scope of employment. Answer: TRUE Answer: TRUE Answer: TRUE Attachments are funds advanced to a debtor from a line of credit secured by collateral. Answer: FALSE Answer: FALSE Answer: FALSE All creditors must file a proof of interest before a bankruptcy proceeding. Answer: FALSE Answer: FALSE Answer:
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JD 819 Midterm 1
Minor breach occurs when a party renders substantial performance of his or her contractual duties. Answer: TRUE Answer: TRUE Answer: TRUE A lawyer who fails to file a document with the court on time, causing the client's case to be dismissed is liable for legal malpractice. Answer: TRUE Answer: TRUE Answer: TRUE The Sarbanes-Oxley Act of 2002 prohibits the
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JD 879 Test 2
Nonnegotiable instruments are negotiated by holders in due course. Answer: FALSE Answer: FALSE Answer: FALSE Only movable goods come under the scope of Article 2 of the UCC. Answer: TRUE Answer: TRUE Answer: TRUE If a shoplifting suspect is detained for an unreasonably long time and is found to be innocent, the merchant is liable for the tort
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LAW 185 Test 1
A presentment is a demand for the acceptance of a dishonored instrument. Answer: FALSE Answer: FALSE Answer: FALSE The delivery term "no-arrival, no-sale" can be added to a shipment contract. Answer: FALSE Answer: FALSE Answer: FALSE If a seller is a merchant with respect to certain goods, there is an implied warranty that the quality of the goods
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LAW 188 Quiz 2
A person having origins in any of the original peoples of the Middle East belongs to the Caucasian racial group. Answer: TRUE Answer: TRUE Answer: TRUE The agent is not liable on the contract in a fully disclosed agency. Answer: TRUE Answer: TRUE Answer: TRUE Cabinet members of cabinet-level federal departments are chosen directly by the president. Answer: FALSE Answer:
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LAW 211 Quiz 1
An unequivocal acceptance must not contain conditions or exceptions. Answer: TRUE Answer: TRUE Answer: TRUE The 2005 act requires an attorney certificationwhereby an attorney who represents a client in bankruptcy must certify the accuracy of the information contained in the bankruptcy petition. Answer: TRUE Answer: TRUE Answer: TRUE The EPA (Environmental Protection Agency) administers the NEPA (National Environmental
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LAW 218 Test
Federal workers are not covered under the Equal Pay Act. Answer: TRUE Answer: TRUE Answer: TRUE There are no specific governmental laws endorsing a moral minimum of social responsibility on corporations. Answer: FALSE Answer: FALSE Answer: FALSE A short-form merger does not require the approval of the board of directors of the subsidiary corporation. Answer: TRUE Answer: TRUE Answer: TRUE Managers and
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LAW 223 Final
Merely observing data on a protected computer without authorization does not amount to a federal crime. Answer: FALSE Answer: FALSE Answer: FALSE If the defendant does not answer the complaint, a default judgment is entered against him or her. Answer: TRUE Answer: TRUE Answer: TRUE Personal and universal defenses can be raised against a normal holder of a
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LAW 238 Test 1
Apparent agency arises when a franchisee creates the appearance of being a franchisor's agent when in fact an actual agency does not exist. Answer: FALSE Answer: FALSE Answer: FALSE Predictions about the future generally do not form the basis for fraud. Answer: TRUE Answer: TRUE Answer: TRUE A general partnership is an association of two or more persons to
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LAW 259
Utilitarianism directs an individual to choose the action that provides the greatest good for the greatest number of people. Answer: FALSE Answer: FALSE Answer: FALSE When a drug manufacturer places prescription drugs in containers that can be easily opened by children, the manufacturer can be subjected to strict liability action due to defect in
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LAW 321 Quiz 1
A no-fault insurance assures an insured party that coverage is available if they are injured in an automobile accident. Answer: TRUE Answer: TRUE Answer: TRUE Members of LLCs (limited liability companies) are not personally liable for the LLCs' debts, obligations, and liabilities. Answer: FALSE Answer: FALSE Answer: FALSE Chattel paper is considered tangible personal property. Answer: FALSE Answer: FALSE Answer: FALSE Under
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LAW 372 Test
The term ISP refers to users who disguise computer viruses as executable programs and send them across the Internet. Answer: FALSE Answer: FALSE Answer: FALSE The income or losses of a Limited liability company (LLC) flow through to the members' individual income tax returns, which avoids double taxation. Answer: TRUE Answer: TRUE Answer: TRUE Under a periodic tenancy system,
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LAW 395 Quiz 2
The duty of restitution states that a competent party should be placed in status quo by the minor upon disaffirmance of a contract. Answer: FALSE Answer: FALSE Answer: FALSE The mislabeling of medicinal devices is prohibited under the Nutrition Labeling and Education Act. Answer: FALSE Answer: FALSE Answer: FALSE Abstractions and scientific principles cannot be patented unless they
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Exam Prep
LAW 419
The first 12 circuits of the federal court system are geographical. Answer: TRUE Answer: TRUE Answer: TRUE Pre-established damages agreed to in a contract are known as liquidated damages. Answer: TRUE Answer: TRUE Answer: TRUE The delegation doctrine only allows executive and legislative powers to an administrative agency, and not judicial powers. Answer: FALSE Answer: FALSE Answer: FALSE A qualified indorsement protects
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LAW 444 Homework
A principal who signs a contract with a third-party is obligated to perform that contract. Answer: TRUE Answer: TRUE Answer: TRUE Attachment is a situation in which the value of a creditor's collateral is insufficient to satisfy the debt for which it is collated. Answer: FALSE Answer: FALSE Answer: FALSE Workers cannot both receive workers' compensation and sue
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LAW 452 Final
A living will states a person's wishes regarding estate planning. Answer: FALSE Answer: FALSE Answer: FALSE The Fair Labor Standards Act guarantees workers unpaid time off from work for family and medical emergencies and other specified situations. Answer: FALSE Answer: FALSE Answer: FALSE According to Rawls's social justice theory, moral duties are based on an implied social contract. Answer:
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LAW 491 Midterm
The uninsured motorist coverage only covers when the accident is an insured's fault. Answer: FALSE Answer: FALSE Answer: FALSE The National Labor Relations Board oversees union elections. Answer: TRUE Answer: TRUE Answer: TRUE Certified checks become stale after two years from the date of their issue. Answer: FALSE Answer: FALSE Answer: FALSE Accountants can be named as defendants in lawsuits that assert
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LAW 567 Homework
Under the defense of contributory negligence, if Mary is partially responsible for her injuries, then she can recover partial damages from the defendant. Answer: FALSE Answer: FALSE Answer: FALSE In a spendthrift trust, all control over the trust is removed from the beneficiary. Answer: TRUE Answer: TRUE Answer: TRUE A qualified indorser is only liable for secondary liability. Answer:
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LAW 580 Midterm 2
If no beneficiary is mentioned in a life insurance, then the proceeds of the insurance go to the insured's estate. Answer: TRUE Answer: TRUE Answer: TRUE A properly executed subsequent will revokes a prior will. Answer: TRUE Answer: TRUE Answer: TRUE If a bank does not honor a check when there are sufficient funds in the drawer's account to
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LAW 584 Test
Under the Consumer Product Safety Act, a private party can sue for an injunction to prevent violations of the act or of CPSC rules and regulations. Answer: TRUE Answer: TRUE Answer: TRUE Point sources are sources of pollution that are fixed and stationary. Answer: TRUE Answer: TRUE Answer: TRUE An annual shareholders' meeting is held to elect new
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LAW 620 Midterm 1
When one party takes specific action to cover a material fact from another party, fraud by enticement occurs. Answer: FALSE Answer: FALSE Answer: FALSE Provisions of federal law are valid as long as they do not conflict with any state law. Answer: FALSE Answer: FALSE Answer: FALSE A requirements contract is unenforceable due to lack of consideration. Answer: FALSE Answer:
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LAW 632 Final
The Sarbanes-Oxley Act requires the chief executive officer (CEO) and chief financial officer (CFO) to certify annual and quarterly reports. Answer: TRUE Answer: TRUE Answer: TRUE After becoming sober, an intoxicated person can ratify the contracts he or she entered into while intoxicated. Answer: TRUE Answer: TRUE Answer: TRUE For a tangible gift to be considered valid, the
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LAW 640 Final
An unconscionable contract can be enforced if the unconscionable clause is removed from it. Answer: TRUE Answer: TRUE Answer: TRUE The Environmental Protection Agency lacks adjudicative powers to hold hearings and order remedies for violation of environmental laws. Answer: FALSE Answer: FALSE Answer: FALSE A codicil is considered to be a separate instrument from the will it references. Answer:
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LAW 656
If a light-skinned member of a race refuses to hire a dark-skinned member of the same race, it constitutes racial discrimination. Answer: FALSE Answer: FALSE Answer: FALSE In deciding the motion for judgment on the pleadings, the judge also considers facts outside the pleadings. Answer: FALSE Answer: FALSE Answer: FALSE An acceleration clause permits the maker to pay
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LAW 666
A letter of credit is considered an informal contract as it does not have a special method of creation. Answer: FALSE Answer: FALSE Answer: FALSE An offer to create a unilateral contract cannot be accepted by a promise to perform. Answer: TRUE Answer: TRUE Answer: TRUE A contract is considered to be supported by legal value if the
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LAW 706 Test 2
A legal right that arises out of a breach of contract may be assigned. Answer: TRUE Answer: TRUE Answer: TRUE A private plaintiff can bring an action of employment discrimination under Section 1981 of the Civil Rights Act of 1866 without going through the procedural requirements of Title VII. Answer: TRUE Answer: TRUE Answer: TRUE For a gift to
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LAW 734
In a destination contract, title passes to the buyer when the seller tenders delivery of the goods at the specified destination. Answer: TRUE Answer: TRUE Answer: TRUE Nuncupative wills are legally binding oral wills that are made on a testator's deathbed in the absence of witnesses. Answer: FALSE Answer: FALSE Answer: FALSE In a sale on approval, the risk
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LAW 758 Midterm 2
A terminated life estate property reverts to the grantor or the grantor's estate or other designated person. Answer: TRUE Answer: TRUE Answer: TRUE In a lease transaction, title to the leased goods passes to the lessee. Answer: FALSE Answer: FALSE Answer: FALSE An offer is terminated if the subject matter of the offer is destroyed. Answer: TRUE Answer: TRUE Answer: TRUE Generally
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LAW 852 Midterm 2
A subsidiary corporation ceases to exist after a share exchange. Answer: FALSE Answer: FALSE Answer: FALSE Bilateral contracts are accepted only upon the offeree's performance of the required act. Answer: FALSE Answer: FALSE Answer: FALSE Real property cannot be owned by more than one person. Answer: FALSE Answer: FALSE Answer: FALSE The euro can only be used in countries that are part
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LAW 898 Quiz 1
The inaccessibility exception is a rule that permits employees and union officials to engage in union solicitation on company property if the employees are beyond reach of reasonable union efforts to communicate with them. Answer: TRUE Answer: TRUE Answer: TRUE Writ of garnishment is an order of the court that enables a government officer
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LB 148 Test
It is not necessary for a limited partnership to have general partners if the limited partners share management responsibility among themselves. Answer: FALSE Answer: FALSE Answer: FALSE The concept of federal law taking precedence over state or local law is called the preemption doctrine. Answer: TRUE Answer: TRUE Answer: TRUE The highest court in the land is the
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LB 158 Test 1
Relativism is one of the principles of Kantian ethics that states that the actor must abide by the rule he or she uses to judge the morality of someone else's conduct. Answer: FALSE Answer: FALSE Answer: FALSE A corporation can be incorporated in several states. Answer: FALSE Answer: FALSE Answer: FALSE In a net, net, net lease arrangement, the
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LB 184
If the product or service offered by a franchisor has not been tested, it should appear on the Federal Trade Commission (FTC) franchise notice. Answer: TRUE Answer: TRUE Answer: TRUE Article 2 of the UCC applies to sales contracts for the sale of intangible goods. Answer: FALSE Answer: FALSE Answer: FALSE A manufacturer is liable for express warranties
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LB 192 Quiz 1
A proxy card authorizes another person to vote the shareholder's shares. Answer: TRUE Answer: TRUE Answer: TRUE Any age below the statutory age of majority is called the period of minority. Answer: TRUE Answer: TRUE Answer: TRUE Mitigation of damages is a nonbreaching party's legal duty to avoid or reduce damages caused by a breach of contract. Answer: TRUE Answer:
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LB 231 Test
Improvements to existing machines, processes, or compositions of matter cannot be patented. Answer: FALSE Answer: FALSE Answer: FALSE A general warranty deed contains the greatest number of warranties and provides the highest level of protection to a grantee. Answer: TRUE Answer: TRUE Answer: TRUE The holder of a negotiable instrument can discharge the liability of any party to
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LB 243 Quiz 2
If an insured does not have an insurable interest in the property being insured, the contract is treated as a wager. Answer: TRUE Answer: TRUE Answer: TRUE General-jurisdiction trial courts can be found in every state. Answer: TRUE Answer: TRUE Answer: TRUE In modern real estate law, the doctrine of "caveat lessee" is widely applied to leases. Answer: FALSE Answer:
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LB 366 Test 2
A ticket to a movie theater or sporting event is an example of a license. Answer: TRUE Answer: TRUE Answer: TRUE A buyer or lessee who rightfully covers may sue the seller or lessor for additional expenses paid. Answer: TRUE Answer: TRUE Answer: TRUE A maker or drawer can appoint an agent to sign a negotiable instrument on
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LB 368 Midterm 1
An insurance broker is an agent of an insurer. Answer: FALSE Answer: FALSE Answer: FALSE Foreign corporations can elect to be taxed as an S corporation. Answer: FALSE Answer: FALSE Answer: FALSE An LLLP is a foreign limited liability limited partnership in the state in which it is formed. Answer: FALSE Answer: FALSE Answer: FALSE The outbreak of a war between the
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LB 389 Midterm
The common law of contract allows for gap-filling terms that are implied in the contract. Answer: FALSE Answer: FALSE Answer: FALSE Warranties are the buyer's or lessee's assurance that the goods meet certain standards. Answer: TRUE Answer: TRUE Answer: TRUE Employers are never strictly liable to any of their employees who might have suffered sexual harassment at the
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LB 409 Test 2
All states provide that persons under a certain age, such as 14 or 15 years of age, cannot be married. Answer: TRUE Answer: TRUE Answer: TRUE If a newspaper review calls a commercially-successful actor talentless, it is liable for defamation of character. Answer: FALSE Answer: FALSE Answer: FALSE To be negotiable, a draft or check must contain the drawer's
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LB 434
Confusion occurs if two or more persons commingle fungible goods. Answer: TRUE Answer: TRUE Answer: TRUE Checks and drafts are considered informal contracts as their method of creation varies from one bank to another. Answer: FALSE Answer: FALSE Answer: FALSE In an F.O.B. point of shipment, the buyer bears the risk of loss while the goods are in
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LB 491 Homework
The federal government is primarily responsible for the implementation of the Clear Water Act in all states. Answer: FALSE Answer: FALSE Answer: FALSE A manufacturer of matches is not strictly liable if an arsonist uses its matches to burn down a building. Answer: TRUE Answer: TRUE Answer: TRUE Administrative agencies do not have to comply with the Due
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LB 511 Quiz 1
Hostile tender offers are tender offers made without the permission of the target company's management. Answer: TRUE Answer: TRUE Answer: TRUE A civil lawsuit does not require a unanimous jury vote. Answer: TRUE Answer: TRUE Answer: TRUE A requirements contract is a contract in which a buyer agrees to purchase all of its requirements for an item from
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LB 545 Quiz
Fraud in the inception is a type of personal defense. Answer: FALSE Answer: FALSE Answer: FALSE A foreign corporation can conduct commerce in a state if it obtains a certificate of authority from the state. Answer: TRUE Answer: TRUE Answer: TRUE Dual agency is permitted if all parties to a transaction agree to it. Answer: TRUE Answer: TRUE Answer: TRUE The primary
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LB 549 Quiz
In an area franchise, the franchisor authorizes the franchisee to negotiate and sell franchises on behalf of the franchisor. Answer: TRUE Answer: TRUE Answer: TRUE Section 7 of the National Labor Relations Act is a federal law that gives employers the right to terminate union practices detrimental to the employers' organizations. Answer: FALSE Answer: FALSE Answer: FALSE The
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LB 576 Quiz
The Sarbanes-Oxley Act makes it lawful for an accounting firm to simultaneously provide audit and certain nonaudit services to a public company if the firm is registered. Answer: FALSE Answer: FALSE Answer: FALSE If the object of an offer is made illegal prior to the acceptance of the offer, then the offer terminates. Answer: TRUE Answer: TRUE Answer:
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LB 589 Test 2
Traditional contract rules do not apply to e-contracts. Answer: FALSE Answer: FALSE Answer: FALSE The Critical Legal Studies School of jurisprudential thought seeks to restrict the subjective decision-making powers of judges. Answer: FALSE Answer: FALSE Answer: FALSE The United States considers Native American tribes as "domestic dependent" nations with limited sovereignty. Answer: TRUE Answer: TRUE Answer: TRUE Native American tribes and tax-exempt
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LB 592 Test
All substantive rules are subject to judicial review. Answer: TRUE Answer: TRUE Answer: TRUE The Sarbanes-Oxley Act contains provisions for prosecuting U.S. firms that bribe foreign officials. Answer: FALSE Answer: FALSE Answer: FALSE The owner of the premises where a property is mislaid is entitled to take possession of the property against all except the rightful owner. Answer: TRUE Answer:
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LB 660
The nature and duration of visitation rights is determined by the parent who has legal custody without the involvement of the court. Answer: FALSE Answer: FALSE Answer: FALSE A tort can be considered an assault without there being any actual physical contact. Answer: TRUE Answer: TRUE Answer: TRUE The coming and going rule says that a principal is
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LB 664 Midterm 1
According to the RMBCA, only corporations with 50 or fewer shareholders may elect statutory close corporation status. Answer: TRUE Answer: TRUE Answer: TRUE In an auction with reserve, the bidder is the offeror. Answer: TRUE Answer: TRUE Answer: TRUE A holder can convert a blank indorsement into a special indorsement by adding his or her signature on it. Answer:
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LB 679 Quiz
General government regulation consists of laws that regulate the operation of the three branches of the federal government. Answer: FALSE Answer: FALSE Answer: FALSE A living trust is a document that states which lifesaving measures the signor does and does not want. Answer: FALSE Answer: FALSE Answer: FALSE The shareholders of the corporation have the absolute right to
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LB 714 Quiz 2
Value has been given by the holder if he or she acquires a security interest in or lien on an instrument. Answer: TRUE Answer: TRUE Answer: TRUE The length of time the parties live together is sufficient to establish a common law marriage. Answer: FALSE Answer: FALSE Answer: FALSE The main purpose exception to the Statute of Frauds
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LB 813 Midterm 2
The liability of manufacturers, sellers, lessors, and others for injuries caused by defective products is commonly referred to as product liability. Answer: TRUE Answer: TRUE Answer: TRUE An implied warranty of fitness for a particular purpose is breached if the goods do not meet the buyer's or lessee's expressed needs. Answer: TRUE Answer: TRUE Answer: TRUE A person
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LB 830
The franchisor is liable for the contracts entered into and torts committed by the franchisee while the franchisee is acting within the scope of the apparent agency. Answer: TRUE Answer: TRUE Answer: TRUE A license is a contract that transfers complete rights in intellectual property and informational rights. Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] A franchise is established
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LB 843 Quiz 3
The unfair advantage theory is intended to prevent wealthy companies from overwhelming the competition in a given market. Answer: TRUE Answer: TRUE Answer: TRUE Rabbinic jurisprudence is administered by rabbi-judges sitting as the Beis Din. Answer: TRUE Answer: TRUE Answer: TRUE A limited partnership cannot have general partners. Answer: FALSE Answer: FALSE Answer: FALSE The implied warranty of fitness for a particular
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LB 848 Homework
Under the UCC, an agreement sufficient to constitute a contract for the sale or lease of goods may be found even though the moment of its making is undetermined. Answer: TRUE Answer: TRUE Answer: TRUE A gift of $100,000 to a named beneficiary is an example of a general gift. Answer: TRUE Answer: TRUE Answer: TRUE If there
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LB 873 Quiz 2
States lack the power to enact antitrust statutes autonomously. Answer: FALSE Answer: FALSE Answer: FALSE Preferred stockholders are given the right to vote for the board of directors of the corporation. Answer: FALSE Answer: FALSE Answer: FALSE A plaintiff must file a claim against an employer within 180 days of the most recent paycheck violation. Answer: TRUE Answer: TRUE Answer: TRUE Limited
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LB 881 Midterm
The National Labor Relations Act establishes the right of employers to terminate the employment of members of unions whose continued picketing hinders the progress of the business. Answer: FALSE Answer: FALSE Answer: FALSE Euthanasia pursuant to a living will is considered legal. Answer: FALSE Answer: FALSE Answer: FALSE After the defendant's attorney completes his or her questions, the
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LWB 102 Midterm
An S corporation must pay federal income tax at the corporate level. Answer: FALSE Answer: FALSE Answer: FALSE A decree of judicial dissolution is granted to a partner whenever it is not reasonably practical to carry on the business in conformity with the limited partnership agreement. Answer: TRUE Answer: TRUE Answer: TRUE Implied warranties are made when a
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LWB 130 Quiz 3
An S corporation cannot have more than 100 shareholders. Answer: TRUE Answer: TRUE Answer: TRUE The Endangered Species Act applies only to private parties. Answer: FALSE Answer: FALSE Answer: FALSE Only one continuation statement can be filed for a financing statement. Answer: FALSE Answer: FALSE Answer: FALSE The CAN-SPAM Act does not regulate spam sent to Americans from other countries. Answer: TRUE Answer: TRUE Answer:
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LWB 136 Midterm
The Chief Justice of the Supreme Court is elected by the Associate Justices of the U.S. Supreme Court. Answer: FALSE Answer: FALSE Answer: FALSE The UCITA (Uniform Computer Information Transactions Act) establishes uniform legal rules for the formation and enforcement of electronic contracts and licenses. Answer: TRUE Answer: TRUE Answer: TRUE A nonbreaching party cannot rescind the contract
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LWB 239 Homework
A nolo contendere plea can be used as evidence of liability against the accused at a subsequent civil trial. Answer: FALSE Answer: FALSE Answer: FALSE Unilateral mistake is a mistake in which only one party is mistaken about a material fact regarding the subject matter of a contract. Answer: TRUE Answer: TRUE Answer: TRUE Taking is defined as an
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LWB 240
An offer is not effective until it is actually received by the offeree. Answer: TRUE Answer: TRUE Answer: TRUE The measure of damages for nondelivery is the difference between the contract price and the market price at the time the breach is realized. Answer: TRUE Answer: TRUE Answer: TRUE The compensation provided by the government for obtaining a
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LWB 296 A Principal Can Authorize
A principal can authorize an independent contractor to enter into contracts. Answer: TRUE Answer: TRUE Answer: TRUE If a defendant is found not guilty in a criminal case, the government can retry the case with a new jury. Answer: FALSE Answer: FALSE Answer: FALSE Principals are liable for negligence caused by an agent during a substantial frolic and
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LWB 305
"All signatures are genuine or authorized" is a transfer warranty that a transferor of a negotiable instrument for consideration makes. Answer: TRUE Answer: TRUE Answer: TRUE The decisions handed down by the general-jurisdiction trial courts are appealable to an intermediate appellate court or the state supreme court. Answer: TRUE Answer: TRUE Answer: TRUE Liquidated damages can be claimed
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LWB 354 Quiz 1
The approval of the surviving corporation's shareholders is not required if the merger or share exchange increases the number of voting shares of the surviving corporation by 20 percent or less. Answer: TRUE Answer: TRUE Answer: TRUE Procedural administrative law establishes the procedure that must be followed by the federal or state legislatures in creating
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LWB 355 Test
E-mail contracts do not meet the requirements of the Statute of Frauds. Answer: FALSE Answer: FALSE Answer: FALSE The merchant courts were established because of the unfair results and limited remedies available in the chancery courts. Answer: FALSE Answer: FALSE Answer: FALSE The extension of secured credit requires a debtor's pledge of some personal property as collateral for a
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LWB 383
If a seller does not disclose legal disputes involving the property being sold, he or she is liable for silence as misrepresentation. Answer: TRUE Answer: TRUE Answer: TRUE In a bailment for the sole benefit of the bailor, the bailee owes a duty of great care to protect the bailed property. Answer: FALSE Answer: FALSE Answer: FALSE Imposition of
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LWB 450 Quiz 3
Agency relationships created against public policy are void and unenforceable. Answer: TRUE Answer: TRUE Answer: TRUE The Law and Economics School of jurisprudential thought believes that promoting market efficiency should be the central goal of legal decision making. Answer: TRUE Answer: TRUE Answer: TRUE If no time is stated in an offer, then the offer stays valid indefinitely. Answer:
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LWB 456
Insurance coverage is typically suspended during grace periods for payments. Answer: FALSE Answer: FALSE Answer: FALSE If the accord is performed, it is called a satisfaction. Answer: TRUE Answer: TRUE Answer: TRUE A three-party secured transaction occurs when a seller sells goods to a buyer who has obtained financing from a third-party lender who takes a security interest
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LWB 510
For an implied agency to function, implied authority cannot conflict with express authority. Answer: TRUE Answer: TRUE Answer: TRUE A seller's or lessor's statement of opinion of the goods does not create an express warranty. Answer: TRUE Answer: TRUE Answer: TRUE A contract requires an offer and an acceptance. Answer: TRUE Answer: TRUE Answer: TRUE The fact that price fixing helps consumers
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LWB 521 Midterm
Shareholder approval is not required to make any changes in a corporation. Answer: FALSE Answer: FALSE Answer: FALSE The violation of a statute that proximately causes an injury is termed as negligence per se. Answer: TRUE Answer: TRUE Answer: TRUE Premiums are based on an estimate of the number of parties within the pool who will suffer the
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LWB 591 Midterm 1
Some states that do not permit same-gender partners to marry provide that they can enter into civil unions. Answer: TRUE Answer: TRUE Answer: TRUE Without mutual assent, there is no contract. Answer: TRUE Answer: TRUE Answer: TRUE An existing limited partnership cannot be converted to a limited liability limited partnership. Answer: FALSE Answer: FALSE Answer: FALSE If an employer breaches an employment
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LWB 608
An instrument is not considered canceled if it is destroyed or mutilated by accident or by an unauthorized third party. Answer: TRUE Answer: TRUE Answer: TRUE To be actionable as fraud, the misrepresentation must have been the sole factor in inducing the innocent party to enter into the contract. Answer: FALSE Answer: FALSE Answer: FALSE Picketing that prevents
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LWB 624 Test
Profits and losses from a Limited liability company (LLC) do not have to be distributed in the same proportion. Answer: TRUE Answer: TRUE Answer: TRUE Shareholders are responsible for determining how much will be paid in dividends. Answer: FALSE Answer: FALSE Answer: FALSE A stop-payment order can be issued either by the drawer or the payee. Answer: FALSE Answer: FALSE Answer:
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LWB 630
A power of attorney gives an agent the power to sign legal documents on behalf of the principal. Answer: TRUE Answer: TRUE Answer: TRUE A person with voidable title to goods can transfer the goods title to a good faith purchaser for value. Answer: TRUE Answer: TRUE Answer: TRUE Shareholders do not have to attend a shareholders' meeting
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LWB 691 Quiz 2
The act of people interested in the lawsuit joining as parties to an existing lawsuit is called arbitration. Answer: FALSE Answer: FALSE Answer: FALSE Any contract entered into by a person who has been adjudged insane is void. Answer: TRUE Answer: TRUE Answer: TRUE Powers not given to the federal government by the U.S. Constitution are reserved to
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LWB 746 Quiz 3
State governments do not have the power to regulate commerce with foreign nations. Answer: TRUE Answer: TRUE Answer: TRUE The Consumer Product Safety Commission (CPSC) is an independent federal administrative agency empowered to regulate potentially dangerous consumer products and issue product safety standards. Answer: TRUE Answer: TRUE Answer: TRUE Only skilled craft workers such as silversmiths and artisans
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LWB 787
Article 2 of the Uniform Commercial Code (UCC) is also applied by federal courts to sales contracts governed by federal law. Answer: TRUE Answer: TRUE Answer: TRUE The Law and Economics School believes that legal decision making should be functional to market efficiency. Answer: TRUE Answer: TRUE Answer: TRUE Liquidated damages are awarded only if actual damages are
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LWB 810
Discharge of an instrument by payment can be raised against enforcement of a negotiable instrument by an ordinary holder. Answer: TRUE Answer: TRUE Answer: TRUE A personal articles floater helps insure specific items like heirlooms. Answer: TRUE Answer: TRUE Answer: TRUE Joint marital debts are debts incurred by the spouses prior to the marriage. Answer: FALSE Answer: FALSE Answer: FALSE A person
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LWB 820 Midterm
Unqualified indorsements are considered negotiable instruments. Answer: TRUE Answer: TRUE Answer: TRUE Section 10(b) of the Securities Exchange Act prohibits the use of manipulative and deceptive devices in contravention of the rules and regulations prescribed by the SEC. Answer: TRUE Answer: TRUE Answer: TRUE The Norris-LaGuardia Act is a federal statute which stipulates that it is legal for
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LWB 832 Midterm
The theory of moral minimum emphasizes correcting social injuries caused by a business. Answer: TRUE Answer: TRUE Answer: TRUE Consequential damages are unforeseeable damages. Answer: FALSE Answer: FALSE Answer: FALSE Only the offeree has the legal power to accept an offer and create a contract. Answer: TRUE Answer: TRUE Answer: TRUE E-mail contracts are enforceable even if they don't meet traditional contract
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LWB 847 Quiz
A spouse wishing to obtain a no-fault divorce merely has to assert irreconcilable differences with his or her spouse. Answer: TRUE Answer: TRUE Answer: TRUE Breach of contract by one party to a licensing agreement gives the nonbreaching party the right to recover damages. Answer: TRUE Answer: TRUE Answer: TRUE The Taft-Hartley Act gives the president of the
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LWB 849 Quiz 1
An employer threatening to close an organization because employees of an organization formed a union is considered an unfair labor practice. Answer: TRUE Answer: TRUE Answer: TRUE Res ipsa loquitor is a tort in which the violation of a statute or an ordinance constitutes the breach of the duty of care. Answer: FALSE Answer: FALSE Answer: FALSE An injunction
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LWP 159
A unilateral mistake occurs if both parties know the object of the contract but are mistaken as to its value. Answer: FALSE Answer: FALSE Answer: FALSE A voidable contract is also termed as an unenforceable contract. Answer: FALSE Answer: FALSE Answer: FALSE Strict liability applies to services but not products. Answer: FALSE Answer: FALSE Answer: FALSE To be valid, a security agreement
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LWP 163 Midterm 1
Under the Federal Unemployment Tax Act, employers are exempted from paying unemployment taxes. Answer: FALSE Answer: FALSE Answer: FALSE If an agency terminates by operation of law, there is no duty to notify third parties about the termination. Answer: TRUE Answer: TRUE Answer: TRUE The articles of incorporation must contain the name and address of every incorporator. Answer: TRUE Answer: TRUE Answer:
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LWP 178 Final
Assumption of risk is a defense a defendant can use against a plaintiff who knowingly and voluntarily participates in a risky activity that results in injury. Answer: TRUE Answer: TRUE Answer: TRUE Theft committed by an unauthorized entry through an unlocked door would be considered burglary. Answer: TRUE Answer: TRUE Answer: TRUE A proxy statement only requires the
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Exam Prep
LWP 184
Utilitarianism postulates doing the greatest good for the greatest number of people. Answer: FALSE Answer: FALSE Answer: FALSE If a person owns real property in fee simple, his or her ownership is limited in duration. Answer: FALSE Answer: FALSE Answer: FALSE The trademark symbol "TM" is used to indicate a registered mark. Answer: FALSE Answer: FALSE Answer: FALSE Reasonable person standard is
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LWP 221 Midterm
A franchise is an example of a license. Answer: TRUE Answer: TRUE Answer: TRUE A bargaining unit must consist of employees from a single company. Answer: FALSE Answer: FALSE Answer: FALSE A bridge would be an example of real property. Answer: TRUE Answer: TRUE Answer: TRUE Persons who transfer goods without proper title breach the warranty of quiet possession. Answer: FALSE Answer: FALSE Answer: FALSE An
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LWP 223 Midterm 2
The Department of Homeland Security is an example of a federal administrative agency. Answer: TRUE Answer: TRUE Answer: TRUE Decisions reached by an administrative law judge are final and cannot be appealed. Answer: FALSE Answer: FALSE Answer: FALSE ISPs provide e-mail accounts to users, Internet access, and storage on the Internet. Answer: TRUE Answer: TRUE Answer: TRUE The Securities and Exchange Commission
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LWP 233 Quiz 1
Only the defendant can appeal in a criminal case. Answer: TRUE Answer: TRUE Answer: TRUE Defendants cannot assert a due diligence defense against liabilities arising from the violation of Section 11 of the Securities Act of 1933. Answer: FALSE Answer: FALSE Answer: FALSE In the context of limited partnership, general partners are not personally liable for partnership debts
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LWP 278 Test 1
For a gift promise to be enforceable, the promisee must offer a consideration. Answer: TRUE Answer: TRUE Answer: TRUE Agents of an LLC (limited liability company) are not permitted to enter into contracts on behalf of the LLC. Answer: FALSE Answer: FALSE Answer: FALSE A friendly merger of two corporations is not considered an acquisition. Answer: FALSE Answer: FALSE Answer: FALSE The
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LWP 287
Shippers can purchase comprehensive insurance to cover the risk of loss to their goods during shipment. Answer: FALSE Answer: FALSE Answer: FALSE Self-dealing is when shareholders use their position to deprive the board of directors of personal monetary gain. Answer: FALSE Answer: FALSE Answer: FALSE In a sale on approval, there is no sale unless and until the
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LWP 287 Test
A homeowner's policy does not cover theft that takes place at an insured's workplace even if the item is insured. Answer: FALSE Answer: FALSE Answer: FALSE Antitrust, bankruptcy, patent and copyright cases can be heard by state courts. Answer: FALSE Answer: FALSE Answer: FALSE Human beings are protected in the secondary level of the national ambient air quality
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LWP 299 Quiz
All federal administrative agencies answer directly to the president. Answer: FALSE Answer: FALSE Answer: FALSE Separate property is included in community property. Answer: FALSE Answer: FALSE Answer: FALSE If a document of title is required, title must pass when and where the seller delivers the goods to the buyer. Answer: FALSE Answer: FALSE Answer: FALSE A Limited liability company (LLC) can be
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LWP 313 Homework
Properties owned by state and federal governments are subject to the doctrine of adverse possession. Answer: FALSE Answer: FALSE Answer: FALSE The U.S. government can gag citizens from criticizing the President. Answer: FALSE Answer: FALSE Answer: FALSE A ratified contract can be disaffirmed even after the minor reaches the age of majority. Answer: FALSE Answer: FALSE Answer: FALSE Perfection by investment of
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LWP 327 Midterm 1
A doctor driving on the wrong side of the road crashes into an eight-year-old boy riding a bicycle. Fearing the consequences, the doctor flees without reporting the accident or giving first-aid to the boy. The doctor is liable for professional malpractice. Answer: FALSE Answer: FALSE Answer: FALSE An exculpatory clause must be reciprocal to
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LWP 337 Homework
A decree of specific performance is a court order that demands the seller or lessor to perform the contract. Answer: TRUE Answer: TRUE Answer: TRUE An offer that is made to two or more persons jointly must be accepted jointly. Answer: TRUE Answer: TRUE Answer: TRUE If an employer categorically refuses to promote all persons of the Asian
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LWP 357 Homework
An offeror can revoke his or her offer even after an agreement or acceptance has been reached. Answer: FALSE Answer: FALSE Answer: FALSE A franchisor deals with the franchisee as an independent contractor. Answer: TRUE Answer: TRUE Answer: TRUE The federal district courts are empowered to impanel juries, receive evidence, hear testimony, and decide cases. Answer: TRUE Answer: TRUE Answer: TRUE Nicknames
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LWP 370 Quiz 1
Common stockholders receive dividends declared by the board of directors. Answer: TRUE Answer: TRUE Answer: TRUE Under the common law, innkeepers are not liable for lost or stolen guest property when compared to the innkeepers' statutes. Answer: FALSE Answer: FALSE Answer: FALSE An insured can cover his automobile under both collision insurance and comprehensive insurance simultaneously. Answer: TRUE Answer: TRUE Answer:
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LWP 469
A lienholder must file a notice of lien with the county recorder's office in the county in which the real property subject to the lien is located. Answer: TRUE Answer: TRUE Answer: TRUE The Privacy Act provides that documents in the possession of federal administrative agencies are confidential to the respective agencies and cannot
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LWP 527 Test
The ULPA contains provisions for the formation, operation, and dissolution of limited partnerships. Answer: TRUE Answer: TRUE Answer: TRUE Terms such as 'sell," "convey," and "give" indicate the intent to transfer a contract right. Answer: TRUE Answer: TRUE Answer: TRUE Proof of actual deception is required for an advertising to be considered false under Section 5 of the
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LWP 532 Midterm 2
According to a minor's duty of restoration, the goods received from an adult should be returned in status quo after the contract has been disaffirmed by the minor. Answer: FALSE Answer: FALSE Answer: FALSE A consignee is a person to whom a common carrier makes a delivery. Answer: TRUE Answer: TRUE Answer: TRUE The authority to enact ordinances
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LWP 539 Midterm
If a person owns real property in fee simple, his or her ownership has no limitation on inheritability. Answer: TRUE Answer: TRUE Answer: TRUE A special indorsement is negotiable by indorsement and delivery. Answer: TRUE Answer: TRUE Answer: TRUE A registration statement need not contain details on how the proceeds from the offering will be used. Answer: FALSE Answer: FALSE Answer:
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LWP 593
A reply is a document filed by the original plaintiff in response to the defendant's cross-complaint. Answer: TRUE Answer: TRUE Answer: TRUE Extortion of public officials is called extortion under color of official right. Answer: TRUE Answer: TRUE Answer: TRUE An order instrument is payable to anyone in physical possession of the instrument and presents it for payment
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LWP 618 Final
During the sale of a house, if the seller does not inform the buyer about construction flaws of the house despite the buyer's enquiry, the seller is liable for fraud by concealment. Answer: TRUE Answer: TRUE Answer: TRUE The FDA labels ordinary household soap as a cosmetic product. Answer: FALSE Answer: FALSE Answer: FALSE Ratification of a contract
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LWP 636 Midterm 2
The Clear Water Act extends its protection to the oceans. Answer: FALSE Answer: FALSE Answer: FALSE The primary level of the national ambient air quality standards (NAAQS) protects vegetation. Answer: FALSE Answer: FALSE Answer: FALSE Any lease for a stated period, irrespective of its duration, is called periodic tenancy. Answer: FALSE Answer: FALSE Answer: FALSE An indorsement with just the indorsee's signature
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LWP 650 Midterm 1
Nonrestrictive indorsements contain instructions from the indorser. Answer: FALSE Answer: FALSE Answer: FALSE Article 2 of the Uniform Commercial Code establishes precise rules for determining the passage of title in sales contracts. Answer: TRUE Answer: TRUE Answer: TRUE FDA approval is not mandatory for medical devices to be legally sold in the United States. Answer: FALSE Answer: FALSE Answer: FALSE Price fixing is
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LWP 652 Test 1
Trees, crops, minerals, and timber are barred from being included in contracts involving interests in real property. Answer: FALSE Answer: FALSE Answer: FALSE Antitrust laws are constant across changes in governmental administration. Answer: FALSE Answer: FALSE Answer: FALSE After the copyright period runs out, the work enters the public domain. Answer: TRUE Answer: TRUE Answer: TRUE A corporation reimbursing its employees for expenses
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LWP 674
Separate property does not include property owned by a spouse prior to the marriage. Answer: FALSE Answer: FALSE Answer: FALSE According to Regulation A, securities of up to $5 million can only be sold to accredited investors. Answer: FALSE Answer: FALSE Answer: FALSE If an employer refuses to promote a qualified female to a management position because of
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LWP 779 Test
Trade names or assumed names cannot be used for signing negotiable instruments. Answer: FALSE Answer: FALSE Answer: FALSE Article 2 of the Uniform Commercial Code (UCC) prescribes a set of uniform rules for the creation and enforcement of contracts for the sale of goods. Answer: TRUE Answer: TRUE Answer: TRUE Publicly held corporations are corporations run by the
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LWP 786
Federal and state government statutes that regulate the safety of food, drugs, cosmetics, toys, vehicles, and other products are collectively referred to as consumer protection laws. Answer: TRUE Answer: TRUE Answer: TRUE Unlicensed persons cannot recover payment for services where they do not have the required license. Answer: TRUE Answer: TRUE Answer: TRUE An accord is a compromise
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LWP 786 The Health Care Reform Act
The Health Care Reform Act requires health plans that provide dependent coverage to continue coverage for a dependent child until the child turns 26 years of age. Answer: TRUE Answer: TRUE Answer: TRUE An affirmation of the value of goods creates an express warranty. Answer: FALSE Answer: FALSE Answer: FALSE The battle of the forms occurs when the
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LWP 812
Subsurface rights cannot be sold separately from surface rights. Answer: FALSE Answer: FALSE Answer: FALSE The Private Securities Litigation Reform Act of 1995 replaced proportionate liability of the defendant with joint and several liability. Answer: FALSE Answer: FALSE Answer: FALSE If a nurse administers CPR to save the life of a dying man and negligently injures the man's
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LWP 819 Midterm
A choice of law clause is a mandatory clause that should be present in every international contract. Answer: FALSE Answer: FALSE Answer: FALSE The Uniform Partnership Act's definition of a general partner includes other limited partnerships. Answer: TRUE Answer: TRUE Answer: TRUE Relatives who receive property under intestacy statutes are called beneficiaries. Answer: FALSE Answer: FALSE Answer: FALSE A lost volume seller
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LWP 849 Midterm
Limited partners of a limited liability limited partnership (LLLP) are involved in the management functions of the partnership. Answer: TRUE Answer: TRUE Answer: TRUE If the value of the collateral securing a secured loan is less than the secured interest, the secured creditor is an oversecured creditor. Answer: FALSE Answer: FALSE Answer: FALSE To initiate a lawsuit, the
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LWP 864 Midterm 2
When a customer deposits a check into a checking account for collection, the depository bank does not have to pay the customer the amount of the check until the check "clears." Answer: TRUE Answer: TRUE Answer: TRUE The measure of damages awarded to the innocent party for fraud is the difference between the value
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LWP 865 Quiz 3
A promissory note may only be a two-party instrument. Answer: FALSE Answer: FALSE Answer: FALSE A pretrial hearing is also known as a settlement conference. Answer: TRUE Answer: TRUE Answer: TRUE Express warranties must contain the word "express" in writing to be legitimate. Answer: FALSE Answer: FALSE Answer: FALSE Unlawful eviction occurs when a tenant's right to quiet enjoyment is violated. Answer: TRUE Answer:
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LWP 874 Quiz 1
.bz is a restricted domain extension and can only be used by businesses or organizations in Brazil. Answer: FALSE Answer: FALSE Answer: FALSE Ross makes an offer to Elizabeth to sell his automobile to her for $10,000. In this case, Ross is the offeree and Elizabeth is the offeror. Answer: FALSE Answer: FALSE Answer: FALSE The payee of a
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M 149 Midterm 1
The proceeds from the sale of real or personal property authorized by a writ of execution are used to pay the creditor the amount of the final judgment. Answer: TRUE Answer: TRUE Answer: TRUE Contracts involving fraud in the inception are void. Answer: TRUE Answer: TRUE Answer: TRUE If a party to a tenancy in common sells his
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M 182 Midterm 1
If there is a confidential relationship between two people, any contract made by the servient party that benefits the dominant party is presumed to be entered into under undue influence. Answer: TRUE Answer: TRUE Answer: TRUE An artisan's lien is a statutory lien given to workers who furnish services or materials on or for personal
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M 199 Quiz
Only written express warranties are valid. Answer: FALSE Answer: FALSE Answer: FALSE A seller can recover lost profits in a case where damages measured by the difference between contract price and market price would not put the seller in the same position as the performance of the contract would have. Answer: TRUE Answer: TRUE Answer: TRUE The Sherman Act
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M 252 Midterm
The Bill of Rights establishes the United States as a federal nation and divides power between the center and the states. Answer: FALSE Answer: FALSE Answer: FALSE Nominal damages are awarded when no financial loss resulted from the breach. Answer: TRUE Answer: TRUE Answer: TRUE Any state or local law that unduly burdens foreign commerce is considered to
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M 260 Test 2
A person who was legally insane at the time of entering a contract is relieved of his or her duties from the contract. Answer: TRUE Answer: TRUE Answer: TRUE Ordinances are not codified into code books. Answer: FALSE Answer: FALSE Answer: FALSE Express contract can be stated orally. Answer: TRUE Answer: TRUE Answer: TRUE Implied warranties are expressly stated in the sales
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M 264
An award of child support to be paid to the custodial parent by a noncustodial parent is a fixed amount that cannot be modified with changing conditions. Answer: FALSE Answer: FALSE Answer: FALSE The pollutant standards under the national ambient air quality standards (NAAQS) are set in two levels. Answer: TRUE Answer: TRUE Answer: TRUE The power of
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M 285
If one or both parties to a sales contract are merchants, any additional terms are considered proposed additions to the contract. Answer: FALSE Answer: FALSE Answer: FALSE Renter's insurance fails to cover an insured for personal liability. Answer: FALSE Answer: FALSE Answer: FALSE Operational regulation of commercial airlines by the Federal Aviation Administration is an instance of general
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M 289 Quiz 3
If a universal defense is proven, the holder or HDC cannot recover on the negotiable instrument. Answer: TRUE Answer: TRUE Answer: TRUE The House of Representatives has the power to impeach the president for certain activities, such as treason, bribery, and other crimes. Answer: TRUE Answer: TRUE Answer: TRUE The .biz extension is used for large-business websites. Answer: FALSE Answer:
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M 317 Final
Complaints regarding violations of the ADA are filed with the U.S. Department of Justice. Answer: TRUE Answer: TRUE Answer: TRUE Firearms represent an example of consumer products which do not come under the CPSC rules. Answer: TRUE Answer: TRUE Answer: TRUE Goods in possession of bailees are considered to be in transit. Answer: TRUE Answer: TRUE Answer: TRUE In a criminal lawsuit,
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M 360 Quiz 2
Not painting the house on time is a violation of a tenant's duty not to commit waste. Answer: FALSE Answer: FALSE Answer: FALSE The Securities Act of 1933 requires that before a corporation or another business sells securities to the public, the issuer must file a registration statement with the Securities and Exchange Commission
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M 389
Promissory notes are never payable on demand. Answer: FALSE Answer: FALSE Answer: FALSE An agreement is created when the offeree receives the offer. Answer: FALSE Answer: FALSE Answer: FALSE The Health Care Reform Act prevents insurance companies from denying health care insurance to individuals with preexisting health conditions. Answer: TRUE Answer: TRUE Answer: TRUE A threat of future harm or moral pressure
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M 408 Midterm 2
Accountants can be held liable for negligence in preparing unaudited financial statements. Answer: TRUE Answer: TRUE Answer: TRUE According to the Electronic Funds Transfer Act and Regulation E adopted by the Federal Reserve Board, a bank can send unsolicited electronic funds transfer system (EFTS) debit cards to a consumer only if the cards are
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M 410 Final
A merged corporation ceases to exist after the merger. Answer: TRUE Answer: TRUE Answer: TRUE The U.S. Congress gives the Supreme Court discretion to decide what cases it will hear. Answer: TRUE Answer: TRUE Answer: TRUE According to the UCC, a seller or buyer who reserves the right to fix a price must do so in good faith. Answer:
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M 421 Homework
In small claims courts, it is necessary that the parties are represented by a lawyer at all times. Answer: FALSE Answer: FALSE Answer: FALSE Acceptance of a part of any commercial unit is acceptance of the entire unit. Answer: TRUE Answer: TRUE Answer: TRUE Financing statements are effective for five years from the date of filing. Answer: TRUE Answer: TRUE Answer:
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M 425 Final
The coverage of a standard fire insurance policy cannot be enlarged by adding riders or endorsements to the policy. Answer: FALSE Answer: FALSE Answer: FALSE The International Court of Justice is composed of 15 judges who serve nine-year terms. Answer: TRUE Answer: TRUE Answer: TRUE A company slogan is an example of a trademark. Answer: TRUE Answer: TRUE Answer: TRUE People below
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M 429
According to the fault rule, if the person who gave the engagement ring breaks off the engagement, then the other party can rightfully keep the engagement ring. Answer: TRUE Answer: TRUE Answer: TRUE Limited partners have unlimited personal liability for the debts and obligations of the limited partnership. Answer: FALSE Answer: FALSE Answer: FALSE The retirement of a
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M 433 Midterm 2
If both parties to a contract are minors, both parties have the right to disaffirm the contract. Answer: TRUE Answer: TRUE Answer: TRUE A check that has been outstanding for more than three months is considered stale, and the bank is under no obligation to pay it. Answer: FALSE Answer: FALSE Answer: FALSE The suicide clause is a
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M 450 Midterm 1
A disparagement is an untrue statement made by one person or business about the products, services, property, or reputation of another business. Answer: TRUE Answer: TRUE Answer: TRUE Innocent misrepresentation is treated as a unilateral mistake. Answer: FALSE Answer: FALSE Answer: FALSE The person who is given a life estate is called the life tenant. Answer: TRUE Answer: TRUE Answer: TRUE Utility
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M 450 Quiz
A unilateral refusal to deal is a violation of Section 1 of the Sherman Act because there is a concerted action with others. Answer: FALSE Answer: FALSE Answer: FALSE The United Nations (UN) Security Council is composed of all UN member nations. Answer: FALSE Answer: FALSE Answer: FALSE A corporation that pollutes a body of water has not
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M 453
If no other form of business organization is chosen in a business operated by only one person, the business is by default a sole proprietorship. Answer: TRUE Answer: TRUE Answer: TRUE The party to whom the duty is owed is the delegatee. Answer: FALSE Answer: FALSE Answer: FALSE In a landlord-tenant relationship, the tenant receives a nonfreehold estate
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M 478 Test
In a criminal lawsuit, the government is represented by a lawyer called a defense attorney. Answer: FALSE Answer: FALSE Answer: FALSE A limited partnership is a foreign limited partnership outside the state in which it is organized. Answer: TRUE Answer: TRUE Answer: TRUE Shareholders are liable for the debt and obligations of a corporation. Answer: FALSE Answer: FALSE Answer: FALSE Privity of
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M 486 Test 2
A drive-other coverage protects an insured for damages to a rental car caused by the insured. Answer: TRUE Answer: TRUE Answer: TRUE Once an accord has been reached, the original contract cannot be enforced under any circumstance. Answer: FALSE Answer: FALSE Answer: FALSE Common law of contracts refers to contract law developed primarily by state courts. Answer: TRUE Answer: TRUE Answer:
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M 487 Midterm 1
An indorsement that purports to prohibit further negotiation of an instrument does not destroy the negotiability. Answer: TRUE Answer: TRUE Answer: TRUE A third party who sues to recover on a partnership contract need not name all the general partners in the lawsuit. Answer: FALSE Answer: FALSE Answer: FALSE The Code of Canon Law of 1983 stipulates the
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M 515 Test 2
In a criminal conspiracy, the commission of the act is not necessary. Answer: TRUE Answer: TRUE Answer: TRUE Registered accounting firms that audit more than 100 public companies annually are subject to inspection and review by the Public Company Accounting Oversight Board (PCAOB) once a year. Answer: TRUE Answer: TRUE Answer: TRUE Under the objective theory of contracts,
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M 517 Test 2
According to the Uniform Simultaneous Death Act, each deceased's property goes to the government in case of simultaneous deaths. Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] An indorsee who accepts a defective instrument qualifies as a holder in due course. Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Contracts involving fraud in inducement are not voidable. Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Anti-assignment clause in
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M 532 Test
In the United States, sales contracts and contracts for the payment of money are not assignable. Answer: FALSE Answer: FALSE Answer: FALSE In a sale or return contract, the buyer has the option of returning all the goods to the seller. Answer: TRUE Answer: TRUE Answer: TRUE If the builder breaches a construction contract either before or during
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M 536 Midterm 1
Bylaws of a corporation must be filed with a government official. Answer: FALSE Answer: FALSE Answer: FALSE An undeveloped real estate property is an example of future goods. Answer: FALSE Answer: FALSE Answer: FALSE To create an implied-in-fact contract, it must be established that a plaintiff provided a property or services gratuitously. Answer: FALSE Answer: FALSE Answer: FALSE The main criticism for
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M 543 Midterm
Contracts for the provision of personal services are generally not assignable. Answer: TRUE Answer: TRUE Answer: TRUE The U.S. Equal Employment Opportunity Commission enforcing equal opportunity in employment laws is an instance of general government regulation. Answer: TRUE Answer: TRUE Answer: TRUE A will has to be written on legal paper to be considered valid. Answer: FALSE Answer: FALSE Answer: FALSE The
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M 544 Quiz
For noncarrier deliveries, if the seller or lessor has no place of business, the place of delivery is the seller's or lessor's residence. Answer: TRUE Answer: TRUE Answer: TRUE The First Amendment's Freedom of Speech Clause protects both speech and conduct. Answer: FALSE Answer: FALSE Answer: FALSE A creditor's action of perfecting liens against a debtor's property cannot
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M 570 Homework
In a manager-managed LLC (limited liability company), it is necessary that the manager is a member of that LLC. Answer: TRUE Answer: TRUE Answer: TRUE A change of venue may be requested in order to find a jury that is not prejudiced. Answer: TRUE Answer: TRUE Answer: TRUE Shareholders are permitted to submit issues for a vote to
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M 573 Quiz 2
A contract that has been fully performed by both sides is called an executory contract. Answer: FALSE Answer: FALSE Answer: FALSE A statute of limitations establishes the time period during which a lawsuit must be brought. Answer: TRUE Answer: TRUE Answer: TRUE According to the failing company doctrine, two or more smaller companies are allowed to merge to
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M 582
The firm offer rule allows the offeror to revoke an offer at any point of time prior to its acceptance. Answer: FALSE Answer: FALSE Answer: FALSE A third party can bring a tort action against an accountant in case of constructive fraud. Answer: TRUE Answer: TRUE Answer: TRUE A tender offer targets the board of directors of the
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M 596 Midterm
Disclaimer of consequential damages is unlawful in most instances. Answer: FALSE Answer: FALSE Answer: FALSE In a sublease, no legal relationship is formed between the landlord and the sublessee. Answer: TRUE Answer: TRUE Answer: TRUE To be enforceable, a contract must be supported by consideration. Answer: TRUE Answer: TRUE Answer: TRUE A debtor-in-possession is a debtor who is left in place to
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M 612 Quiz 2
Once the number of board of directors is fixed by the articles of incorporation, the number cannot be amended. Answer: FALSE Answer: FALSE Answer: FALSE If an accession is made wrongfully, the improver acquires title to the improved property and does not have to pay the owner for the property. Answer: FALSE Answer: FALSE Answer: FALSE At common law,
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M 662 Midterm
The Uniform Transfers to Minors Act establishes procedures for adults to make irrevocable gifts of money and securities to minors. Answer: TRUE Answer: TRUE Answer: TRUE For a life insurance, insurable interest is necessary at the time of loss. Answer: FALSE Answer: FALSE Answer: FALSE Only outstanding shares have the right to vote. Answer: TRUE Answer: TRUE Answer: TRUE A principal is
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M 676
Greenmail refers to a target corporation's purchase of its stock from an actual or perceived tender offeror at a premium. Answer: TRUE Answer: TRUE Answer: TRUE Statements of opinion and sales talk do not constitute false and deceptive advertising. Answer: TRUE Answer: TRUE Answer: TRUE A limited liability company is an incorporated business entity. Answer: FALSE Answer: FALSE Answer: FALSE Disparate-treatment discriminationoccurs
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M 691 Quiz 2
An employee who earns tips must be paid minimum wage, excluding the income from tips. Answer: FALSE Answer: FALSE Answer: FALSE The written confirmation rule requires that both parties to an oral agreement send written confirmation of the sale or lease. Answer: FALSE Answer: FALSE Answer: FALSE The legality of nonprice vertical restraints of trade under Section 1
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M 702
Indorsements are required to negotiate bearer papers. Answer: FALSE Answer: FALSE Answer: FALSE If no document of title is required, title only passes at the time and place of delivery. Answer: FALSE Answer: FALSE Answer: FALSE Kantian ethics is based on the premise that people can use reasoning to reach ethical decisions. Answer: TRUE Answer: TRUE Answer: TRUE A patent can only
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M 744
The Federal Trade Commission (FTC) does not require the registration of the disclosure document with the FTC prior to its use. Answer: TRUE Answer: TRUE Answer: TRUE Workers who quit work without just cause can claim unemployment benefits. Answer: FALSE Answer: FALSE Answer: FALSE Shareholder voting agreements have to be filed with the corporation. Answer: FALSE Answer: FALSE Answer: FALSE Comparative negligence is
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M 857 Midterm 1
The legal rule of imputed knowledge means that the principal is assumed to know what the agent knows. Answer: TRUE Answer: TRUE Answer: TRUE An act of an employer to prevent employees from entering the work premises when the employer reasonably anticipates a strike is known as an employee lockout. Answer: FALSE Answer: FALSE Answer: FALSE The secretary-general
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M 865 Test
Execution is a postjudgment court order that permits the seizure of the debtor's property that is in the possession of the debtor. Answer: TRUE Answer: TRUE Answer: TRUE A Limited liability company (LLC) organized in the United States is considered a domestic LLC throughout the United States. Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Answer: FALSE[/cpmembership] Illusory promises require both parties to
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M 889 Test
Personal injury is not covered under a standard fire insurance policy. Answer: TRUE Answer: TRUE Answer: TRUE Persons who entered into an illegal contract but withdrew before the illegal act was performed can sue to recover consideration. Answer: TRUE Answer: TRUE Answer: TRUE Limited liability companies are created by federal law. Answer: FALSE Answer: FALSE Answer: FALSE Fraud in inducement occurs when
Business Law: Legal Environment Online Commerce Business Ethics and International Issues 9th Edition

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