Business Law and the Legal Environment 7th Edition

ISBN 13
978-1285860381
ISBN 10
1285860381
Authors
Jeffrey F. Beatty, Susan S. Samuelson
has exam prep Exam Prep  has homework help Homework Help
188 documents found.
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978-1285860381 Chapter 1 Solution Manual Part 1
Suggested Additional Assignments Research Students should pick up an issue of any newspaper and find ten articles dealing with legal issues. The articles might refer to contract disputes, negligence suits, international trade agreements, statutory debates in Congress, environmental conflicts, employment issues, and so on. If researching articles in the classroom, make the search competitivetime how
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978-1285860381 Chapter 1 Solution Manual Part 2
Analyzing a Case Case: Kuehn v Pub Zone1, Facts: Maria Kerkoulas owned the Pub Zone bar, frequented by many motorcycle gangs, and knew from her own experience and conversations with police that some of the gangs, including the Pagans, were dangerous and prone to attack customers for no reason. Kerkoulas posted a
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978-1285860381 Chapter 10 Solution Manual Part 1
Suggested Additional Assignments Field Work: Cookies and Internet Functionality Have students block their web browsers from accepting cookies and record how it changes their online experience. (Since people usually find that blocking cookies substantially diminishes the quality of their Internet time, tell them to write down their cookie settings before changing them and the
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978-1285860381 Chapter 11 Solution Manual Part 1
Suggested Additional Assignments Research: The Contracts around Us Students should locate and read one or more of the contracts they have entered into in the past yearan apartment lease, a university-housing residency agreement, a mobile phone service agreement, terms of use for a fee-based website, or a retail sales agreement for a personal computer.
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978-1285860381 Chapter 11 Solution Manual Part 2
Additional Case: Novak v. Credit Bureau Collection Service 1 Facts: David Novak suffered a brain aneurysm and was unconscious. An ambulance took him to Saint Regional Medical Center, where doctors successfully operated. Novak remained in the hospital for two months and then was discharged. Novak did not pay the Medical Centers
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978-1285860381 Chapter 12 Solution Manual Part 1
Suggested Additional Assignments Bob and Katrina: Lets Make a Deal The chapter opens with a page of dialogue. Bob, a movie director, and Katrina, an actress, believe they have formed a contractbut what are its terms? Divide students into two groups and have one group write a brief contract capturing the deal from Bobs
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978-1285860381 Chapter 12 Solution Manual Part 2
Additional Case: Bayway Rening Co. v. Tosco Corp.1 Facts: Bayway Refining and Oxygenated Marketing and Trading A.G. (OMT) were both in the business of buying and selling petroleum products. Bayway agreed to sell OMT 60,000 barrels of gasoline, and OMT faxed a confirmation letter stating that it represented the full understanding
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978-1285860381 Chapter 13 Solution Manual Part 1
Suggested Additional Assignments Research: Binding Promise Using the library or the Internet, students should find a current article that raises a dispute about a promise. Typically, someone made a statement that another person or company relied on, but the speaker now declares the promise was never meant to be binding. These issues are common
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978-1285860381 Chapter 13 Solution Manual Part 2
Employment Agreements A covenant not to compete is an agreement in which an employee promises not to work for a competitor for some time after leaving the company. It used to be that these covenants were rare and reserved for top officers but they have now become commonplace throughout many organizations. We will talk
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978-1285860381 Chapter 14 Solution Manual Part 1
Suggested Additional Assignments Research: Exculpatory Clauses Students should find an exculpatory clause, perhaps on a parking lot claim check, check-room receipt, or sports admission ticket, and report in class precisely what conduct or events the clause covers, and whether, in their view, it is legal. Drafting Exercise: Noncompete Clause Students should assume that they are partners
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978-1285860381 Chapter 14 Solution Manual Part 2
You Be The Judge: Ransburg v Richards1 Facts: Barbara Richards leased an apartment at Twin Lakes, a complex owned by Lenna Ransburg. The written lease declared that: Twin Lakes would gratuitously maintain the common areas. Richards use of the facilities would be at her own risk. Twin
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978-1285860381 Chapter 15 Solution Manual Part 1
Suggested Additional Assignments Drafting Exercise: Distinguishing Puery and Misrepresentation Students should write one page of dialogue or prose describing a sales pitch made to a consumer. The seller should tread the fine line between puffery and misrepresentation, and the student should be able to declare whether the conduct was lawful, and why. Research: Fine Art This
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978-1285860381 Chapter 15 Solution Manual Part 2
Landmark Case Sherwood v. Walker 66 Mich. 568 Supreme Court of Michigan, 1887 Facts: Rose 2d of Aberlone was a gentle, 1,420 lb. cow that lived in Michigan in 1886. Roses owner, Hiram Walker & Sons, was a cattle breeder who bought her for $850. After a few years, Walker concluded that Rose
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978-1285860381 Chapter 16 Solution Manual Part 1
Suggested Additional Assignments Get it in Writing, and Then Read It A side benefit of the statute of frauds is that the parties end up with a written record of the agreement they made. However, the value of this memorial is reduced by the fact that many people never look at the writing, either
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978-1285860381 Chapter 16 Solution Manual Part 2
The UCCs Statute of Frauds The UCC requires a writing for the sale of goods priced $500 or more. The Codes requirements are easier to meet than those of the common law. UCC 2-201, the statute of frauds section, has three important elements: 1. The basic rule 2. The merchants exception 3. Special circumstances UCC 2-201(1)THE BASIC
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978-1285860381 Chapter 17 Solution Manual Part 1
Suggested Additional Assignments Drafting Exercise: Avoiding Third-Party Claims This hypothetical is based on a real suit between sports fans from the University of Wisconsin and the University of California at Los Angeles (UCLA). The students represent UCLA. This year's UCLA Bruins football team is on the verge of winning the PAC10 title, which will
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978-1285860381 Chapter 17 Solution Manual Part 2
You Be the Judge: Wells Fargo Bank Minn. v BrooksAmerica Mortgage Corp. 1 Facts: Michael Brooks desperately needed financing for his company, BrooksAmerica, so he agreed to a sale-leaseback agreement with Terminal Marketing Co. Terminal would pay BrooksAmerica $250,000, and in exchange would obtain title to BrooksAmerica's computers and office equipment.
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978-1285860381 Chapter 18 Solution Manual Part 1
Suggested Additional Assignments Drafting Exercise: Substantial Performance Scenarios Divide students into three groups. Have one group brainstorm a relatively simple residential construction project, such as building a deck, installing an in-ground pool, or adding an addition containing a family room. Ask them to list five or six design specifications they would like to see
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978-1285860381 Chapter 18 Solution Manual Part 2
Impossibility If performing a contract was truly impossible, a court will discharge the agreement. But if honoring the deal merely imposed a financial burden, the law will generally enforce the contract. True Impossibility These cases are easyand rare. True impossibility means that something has happened making it literally impossible to do what the promisor said
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978-1285860381 Chapter 19 Solution Manual Part 1
Suggested Additional Assignments Research: Professional Sports and Contract Law Students should find news articles dealing with contract disputes between professional athletes and their teams. What are the facts of the dispute? What legal issues do the disputes raise? What remedies do the parties seek? Are they consistent or at odds with the remedies described
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978-1285860381 Chapter 19 Solution Manual Part 2
Additional Case: Hyler v. Garner 1 Facts: Jim and Bonnie Hyler enjoyed traveling about the country with a camping trailer that they pulled behind their car. Jim sustained a back injury that left his right leg numb and he was unable to hook up the trailer to the car. The Hylers
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978-1285860381 Chapter 2 Solution Manual Part 1
Suggested Additional Assignments Research Ask students to bring to class a newspaper, magazine, or internet article that raises ethical issues regarding a US company doing business overseas. They should be prepared to identify the ethical issues and discuss them using the checklist in the chapter. Interview: Business people on Ethics Each student (or group of
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978-1285860381 Chapter 2 Solution Manual Part 2
Multiple Choice Questions 1. Milton Friedman was a strong believer in the _____________ model. He _______________ argue that a corporate leader's sole obligation is to make money for the company's owners. (a) shareholder; did (b) shareholder; did not (c) stakeholder; did (d) stakeholder; did not Answer: A. Milton Friedman believed that if shareholder and stakeholder interests conflict,
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978-1285860381 Chapter 20 Solution Manual Part 1
Suggested Additional Assignments Research: Lawyers and Public Opinion Students should conduct an informal survey of friends and associates to gather ideas on public perception of lawyers. They should categorize the comments and evaluate what types of people have a negative opinion of lawyers and what type have a positive opinion. Drafting: Contracts Students should draft a
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978-1285860381 Chapter 20 Solution Manual Part 2
Reciprocal Promises and Conditions A contract may provide a list of what each party promises to do. In this format, each party is responsible for performance whether or not the other party breaches. These provisions are reciprocal promises, which means that they are each enforceable independently. The better approach is for the
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978-1285860381 Chapter 21 Solution Manual Part 1
Suggested Additional Assignments Good Faith Students should write a short description of realistic commercial behavior that skirts the border between lawful, aggressive business dealing and bad faith. Students should know in their own mind whether or not the behavior is legitimate. Students will then exchange examples, read them out loud, and analyze each others cases. Drafting:
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978-1285860381 Chapter 21 Solution Manual Part 2
Case: Mathis v. Exxon Corporation1 Facts: Exxon marketed gasoline to retailers in three ways. Franchisees (who owned local gas stations) were required to purchase a minimum number of gallons per month at the dealer tank wagon price (DTW) set by Exxon. Jobbers (distributors who could resell to dealers) paid the rack
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978-1285860381 Chapter 22 Solution Manual Part 1
Suggested Additional Assignments Research and Drafting Exercise: Warranties Ask students to find a sales slip with a warranty on it, read the warranty, and then rewrite the warranty in plain English. Explain exactly what the company will pay for and will not pay for if something goes wrong. Are they satisfied with the warranty?
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978-1285860381 Chapter 22 Solution Manual Part 2
Implied Warranties Implied Warranty of Merchantability Merchantability is a concept most non-lawyers are not familiar with. It means that goods are fit for their normal purposes. Case: Goodman v. Wenco Foods, Inc.1 Facts: Fred Goodman bit into a Wendys hamburger and was injured by a triangular piece of cow bone, about one-sixteenth to one-quarter
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978-1285860381 Chapter 23 Solution Manual Part 1
Suggested Additional Assignments Drafting and Role Play: Contract Warranties and Remedies The students will negotiate and draft a computer contract. Half of the students will represent Profit & Densom, a firm of 10 accountants. The others will represent Ibex, a computer consulting firm. The parties have agreed that Ibex will create and install a
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978-1285860381 Chapter 23 Solution Manual Part 2
Buyers Remedies If a seller fails to deliver goods, repudiates, or if the buyer rightfully rejects the goods, the buyer is entitled to cancel the contract. She may also recover money paid to the seller, assuming she has not received the goods. In addition, she may be entitled to: incidental and consequential damages
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978-1285860381 Chapter 24 Solution Manual Part 1
Suggested Additional Assignments Ethics Problem: To Seize or Not to Seize To the Students: You are the manager of a small bank in the western United States. Your bank loaned $75,000 to a young farmer to help him purchase a tractor, planter, and harvester for his modest-sized organic vegetable farm. Your bank has a
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978-1285860381 Chapter 24 Solution Manual Part 2
Case: In ReRoser1 Facts: Robert Roser obtained a loan from Sovereign Bank which he promptly used to buy a car. Nineteen days later, Sovereign filed a lien with the state of Colorado. The bank expected that, with a perfected interest, it would have priority over everyone else. Unknown to Sovereign Bank, Roser
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978-1285860381 Chapter 25 Solution Manual Part 1
Suggested Additional Assignments Writing Exercise Ask students to write their own mystery story modeled on the vignette that opens the chapter. This exercise will help them consolidate their grasp of the material in the chapter. In class, ask them to break into groups and share their stories with the group. They will then select
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978-1285860381 Chapter 25 Solution Manual Part 2
Shelter Rule Under the shelter rule, the transferor of an instrument passes on all of his rights. When a holder in due course transfers an instrument, the recipient acquires all the same rights even if he is not a holder in due course himself.1 Real Defenses: valid against both a holder and
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978-1285860381 Chapter 26 Solution Manual Part 1
Suggested Additional Assignments Research: Literary References Ask students to look at the pictures of the checks on pp. 620 and 622 and answer these questions: Who are Charles Bingley and Jane Bennet (p. 620) and Frederick Wentworth and Anne Elliot (p. 622)? What is implausible about these checks? Extra credit to students who can
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978-1285860381 Chapter 26 Solution Manual Part 2
Negligence You Be the Judge: Gulf States Section, PGA, Inc. v. Whitney National Bank of New Orleans1 Facts: Adrenetti Collins was a secretary who worked in the PGA office. During a four-month period, she forged 18 PGA checks totaling $22,699.81. To avoid detection, she intercepted two of the bank statements sent by
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978-1285860381 Chapter 27 Solution Manual Part 1
Suggested Additional Assignments Interview Ask students to interview a certified public accountant who audits companies (as opposed to one who specializes in taxation). Students should ask the following: Is the accountant concerned about increased liability? Has she made any changes in the way she practices her profession as a result of concerns about liability? What
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978-1285860381 Chapter 27 Solution Manual Part 2
Fraud Primary Liability. Most securities litigation against accountants is brought under 10(b) and Rule 10b-5 of the 1934 Act. Under 10(b), an auditor is liable for making (1) a misstatement or omission of a material fact (2) knowingly or recklessly (3) that the plaintiff relies on in purchasing or selling a security.
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978-1285860381 Chapter 28 Solution Manual Part 1
Suggested Additional Assignments Personal Experiences: Agency Ask students to prepare a list of five instances in which they have acted as an agent for someone else, or someone else has acted as an agent for them. Sports Agents For many students, agency law will immediately conjure images of the Tom Cruise film Jerry Maguire and
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978-1285860381 Chapter 28 Solution Manual Part 2
Other Duties of an Agent Duty to Obey Instructions An agent must obey her principals instructions unless the principal directs her to behave illegally or unethically. Duty of Care An agent has a duty to act with reasonable care. In other words, an agent must act as a reasonable person would under the circumstances. Under
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978-1285860381 Chapter 28 Solution Manual Part 3
Principals Liability for Torts An employer is liable for a tort committed by its employee acting within the scope of employment or acting with apparent authority. Respondeat Superior A master is liable for physical harm caused by the negligent conduct of servants within the scope of employment. Question: What is a master? Answer: Master is
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978-1285860381 Chapter 29 Solution Manual Part 1
Suggested Additional Assignments Research: Sexual Harassment Policies Ask students who are employed to find their companys sexual harassment policy. What type of behavior does it prohibit? What are the procedures for complaining about harassment? Do they think it is comprehensive? What, if any, changes would they make to the policy? Presentation: Employment Issues Ask students to
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978-1285860381 Chapter 29 Solution Manual Part 2
Case: Teresa Harris v. Forklift Systems, Inc.1 Facts: Charles Hardy, president of Forklift Systems, frequently made inappropriate sexual comments to Teresa Harris and other women at the company. He said to Harris, You're a woman, what do you know? and We need a man as the rental manager. He called her
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978-1285860381 Chapter 3 Solution Manual Part 1
Suggested Additional Assignments Interview: An Importer Students should locate a local businessperson who imports goods or sells imported goods. Why does she choose to deal in imported goods? What advantages do the goods give her over domestic goods? What problems has she encountered? What advice would she have for an entrepreneur who plans to
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978-1285860381 Chapter 3 Solution Manual Part 2
Case: Forestal Guarani S.A. v. Daros International, Inc.1 Facts: Forestal Guarani S.A., in Argentina, entered into an oral agreement to sell wooden finger-joints to Daros International, Inc. in New Jersey.2 Forestal sent Daros the products but Daros declined to pay the full amount. When Forestal sued Daros in the U.S.
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978-1285860381 Chapter 30 Solution Manual Part 1
Suggested Additional Assignments Research: Sexual Harassment Policies Ask students who are employed to find their companys sexual harassment policy. What type of behavior does it prohibit? What are the procedures for complaining about harassment? Do they think it is comprehensive? What, if any, changes would they make to the policy? Presentation: Employment Issues Ask students to
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978-1285860381 Chapter 30 Solution Manual Part 2
Case: Reid v. Google, Inc.1 Facts: Googles vice-president of engineering, Wayne Rosing (aged 55), hired Brian Reid (52) as director of operations and director of engineering. At the time, the top executives at Google were CEO Eric Schmidt (47), vice-president of engineering operations Urs Hlzle (38), and founders Sergey Brin (28)
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978-1285860381 Chapter 31 Solution Manual Part 1
Suggested Additional Assignments Interview: Entrepreneur Student could interview an entrepreneur to ask why he or she chose a particular form of business. Did the entrepreneurs understand the legal issues involved? Did they simply rely on lawyers in making their selections? Or, did they fall into a choice such as sole proprietorship or corporation without
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978-1285860381 Chapter 31 Solution Manual Part 2
General Partnerships Few people now affirmatively elect to form a partnership because so many other options are available. Even professionals such as lawyers and accountants now have other choices. As we will see in the next chapter, many partnerships are created accidentally by people unfamiliar with partnership law. In addition, entrepreneurs who unsuccessfully attempt
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978-1285860381 Chapter 32 Solution Manual Part 1
Suggested Additional Assignments Research: Partnership Registrations The Uniform Partnership Act (UPA) permits partnerships to file a statement with the local Secretary of State containing basic information about the partnership. Assign each student a different state and ask him or her to log on to the Web site of the Secretary of State (or call
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978-1285860381 Chapter 32 Solution Manual Part 2
Additional Case: Hooper v. Hooper Facts: Charles Hooper owned Lako, a scrap metal business, and invited his brother William to join him as partner. They were each entitled to 50 percent of the profits of the partnership, but they agreed that they would take out only what was necessary to live,
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978-1285860381 Chapter 33 Solution Manual Part 1
Suggested Additional Assignments Field Work: Selecting a State of Incorporation Ask students to call two or three businessesat least one large and one small-- to find out where they are incorporated. If students actually talk to someone who has started her own business, they should ask her why she chose that particular state. Did
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978-1285860381 Chapter 33 Solution Manual Part 2
After Incorporation Research: Approval by Written Consent Instead of holding a meeting to approve a decision, directors and shareholders can simply sign a written consent. Question: If students completed this research project, ask them now what they found out about written consents. Answer: Michigan, for instance, has modeled its statute on Delawares. Both states
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978-1285860381 Chapter 34 Solution Manual Part 1
Suggested Additional Assignments Research: State Anti-Takeover Provisions Have students research whether their state corporation code has any provisions designed to protect local companies from takeovers. Research: Wallace Computer Services, Inc. Research the attempted takeover of Wallace Computer Services, Inc. by the Moore Corp. Ask students to determine what has happened to Wallace and the price of
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978-1285860381 Chapter 34 Solution Manual Part 2
More Conflict: Takeovers There are three ways to acquire control of a company: Buy the companys assets. Merge with the company. Buy stock from the shareholders. Takeovers: The Business Judgment Rule Corporate management has great freedom to resist takeover attempts. However, if it is clear that the company will be sold, the board
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978-1285860381 Chapter 35 Solution Manual Part 1
Suggested Additional Assignments Research: Boards of Directors Ask students to choose a publicly traded company that makes something they own. Then have them look up the companys annual report on the SEC Web site (http://www.sec.gov). They can also find out information at http://www.thecorporatelibrary.com. Using these and other Internet sites, what can they learn
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978-1285860381 Chapter 35 Solution Manual Part 2
Additional Case: Michael L. Retzer v. Nancy B. Retzer1 Facts: Mr. Retzer worked long hours to acquire five McDonalds franchises. He owned 1,610 shares of stock in the close corporation that owned the franchises; his wife had 1,600 shares. Mrs. Retzer was unfaithful and a profligate spender. The couple divorced. Issue: What
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978-1285860381 Chapter 36 Solution Manual Part 1
Suggested Additional Assignments Research: Exempt Property Under the Code, individual debtors are permitted to keep certain exempt property. However, the Code allows state law to establish the amount and type of this exempt property. Ask students to determine your states law on exempt property. A list of state exemptions is available at http://www.bcsalliance.com/bankruptcy_stateexemptions.html. Chapter Overview Chapter
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978-1285860381 Chapter 36 Solution Manual Part 2
Additional Case: In re: John & Julie Homan1 Facts: The Hoffmans filed Chapter 7 bankruptcy. Among their debts was a loan for $11,500 secured by their 1999 Dodge Caravan. The car was worth less than half the amount of the loan, thus, there was no economic sense to pay back twice
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978-1285860381 Chapter 37 Solution Manual Part 1
Suggested Additional Assignments Research: Direct Public Offerings The Web site http://www.dfdpo.com is a useful source of information about direct public offerings. Ask students to think of a business idea that would pass the Screen Test at this site. Research: IPOs Ask students to obtain a preliminary or final prospectus from a company that has recently
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978-1285860381 Chapter 37 Solution Manual Part 2
You Be The Judge: In re HP Secs. Litig. Facts: Shortly after Lo Apotheker became CEO of HP, he decided to acquire Autonomy Corporation at a cost of over $11 billion. His decision met with strong resistance from HP executives, including CFO Catherine Lesjak. But he persisted. The day after
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978-1285860381 Chapter 38 Solution Manual Part 1
Suggested Additional Assignments Field Work: Setting Prices If students have jobs, ask them to interview someone in their company who has responsibility for setting prices. Several years ago, one of Beatty and Samuelsons students told the class that she was in charge of setting prices for her division. How did she do it? She
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978-1285860381 Chapter 38 Solution Manual Part 2
Additional Case: Camarda v. Snapple Distributors, Inc.5 Facts: Snapple Beverage Corporation distributed its products through Snapple Distributors, Inc. (SDI) which in turn sold to local area distributors (LADs). These LADs were only allowed to resell Snapple to small retail outlets such as pizzerias, newsstands, and Mom and Pop stores within
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978-1285860381 Chapter 39 Solution Manual Part 1
Suggested Additional Assignments Research: Unfair or Deceptive Advertising Ask students to bring to class an ad that they think is deceptive or unfair. They could either clip an ad from a newspaper or magazine, or record one from television. Research: Credit Reports Ask students to order a credit report from one of the three national
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978-1285860381 Chapter 39 Solution Manual Part 2
Credit Reports Accuracy of Credit Reports A number of statutes, including the Fair Credit Reporting Act (FCRA), the Fair and Accurate Credit Transactions Act (FACTA) and Dodd-Frank regulate credit reports. A consumer report is any communication about a consumers creditworthiness, character, general reputation, or lifestyle that is considered as a factor in establishing credit, obtaining
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978-1285860381 Chapter 4 Solution Manual Part 1
Suggested Assignments Evolution of the Common Law Ask students to summarize the common law principles of the bystander cases in the text and then create their own bystander examples. First, students should write a two- or three-sentence summary of the law given in each of these cases: Union Pacific Railway Co. v. Cappier,
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978-1285860381 Chapter 4 Solution Manual Part 2
Case: United States v. Biswell1 Facts: Biswell operated a pawn shop and had a license to sell "sporting weapons". Treasury agents demanded to inspect Biswell's locked storeroom. The officials claimed that, the Gun Control Act of 1968 gave them the right to search without a warrant. That law says, in part,
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978-1285860381 Chapter 40 Solution Manual Part 1
Suggested Additional Assignments Research: Superfund Sites Divide students into groups and ask them to contact the EPA to determine if there are any Superfund sites in a designated state. If there are, ask students to discover: How the site was created Who is supervising its cleanup Who is paying for the cleanup How long
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978-1285860381 Chapter 40 Solution Manual Part 2
Chemicals More than 85,000 chemicals are used in food, drugs, cosmetics, pesticides, and other products. Up to 3,000 new chemicals are introduced each year. Although consumers may think that these products have been safety tested, that is true for only a very small percent. Our regulatory system assumes that they are safe
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978-1285860381 Chapter 41 Solution Manual Part 1
Suggested Additional Assignments Research: Patents Ask students to search the Patent and Trademark Office (PTO) database to locate two patented inventions, one worthwhile and one frivolous. Students should prepare a brief description of each item and explain why it is worthwhile or frivolous. The PTOs searchable patent database is located at http://www.uspto.gov/patft/index.html. Research: Trademarks Ask students
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978-1285860381 Chapter 41 Solution Manual Part 2
More facts When the owners of the Pretty Woman copyright sued 2 Live Crew, the groups first inclination was to withdraw the parody. The Capitol Steps, however, wanted the courts to establish once and for all that parody is a protected form of speech. To persuade the Supreme Court to grant certiorari,
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978-1285860381 Chapter 42 Solution Manual Part 1
Suggested Additional Assignments Drafting Exercise: Deeds Have students draft one deed that conveys a realistic fee simple defeasible in a valuable parcel of property, and another deed that conveys a life estate and a remainder. Research: Zoning Students should use the Internet to find an article that addresses some unique uses of zoning
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978-1285860381 Chapter 42 Solution Manual Part 2
Additional Case: Harris V. Soley1 Facts: The tenants (probably students) moved into an apartment that had been condemned and, contrary to the landlords promises, not fixed up. There were mice, roaches, terrible odors, roof leaks, no heat, broken toilets and more. The landlord failed to repair and the tenants stopped paying
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978-1285860381 Chapter 43 Solution Manual Part 1
Suggested Additional Assignments Research: Gifts Students should find the website of a nonprofit organization that solicits gifts, such as the World Wildlife Foundation at http://worldwildlife.org/how_to_help. In a one-page paper, students should summarize the many different ways to donate to the organization, and should clarify which are true gifts and which are testamentary disposals. Writing: Found
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978-1285860381 Chapter 43 Solution Manual Part 2
Additional Case: Mitchell v. Bank of America National Association1 Facts: Donna and Timothy Mitchell rented a safe deposit box from a Dallas branch of the Bank of America. The lease agreement stated that the bank had no possession or custody of, nor control over, the contents of the Box, and the
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978-1285860381 Chapter 44 Solution Manual Part 1
Suggested Additional Assignments Research: Intestacy Ask students to look up the intestacy laws in their state. Where would their assets go if they had a spouse and children? Had a spouse but no children? Had children but no spouse? Were single? In South Carolina, for instance, a spouse inherits half the estate if there
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978-1285860381 Chapter 44 Solution Manual Part 2
Introduction to Insurance The beneficiary, the insured, and the owner can be, but are not necessarily, the same person. Insurance Contract An insurance policy must meet all of the common law requirements for a contract. Insurable Interest An insurance contract is not valid unless the owner has an insurable interest in the subject
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978-1285860381 Chapter 5 Solution Manual Part 1
Suggested Assignments Interview: Civil Rights Students should interview three people to determine their views about two issues: flag burning and boy-girl wrestling. One person should be over 50 years old, one person should have been born and raised in a foreign country, and one person should be a member of a different political party
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978-1285860381 Chapter 5 Solution Manual Part 2
Case: Texas v. Johnson1 Facts: In 1984, outside the Republican National Convention in Dallas, Gregory Johnson participated in a protest against policies of the Reagan administration. Participants gave speeches and handed out leaflets. Johnson burned an American flag. He was arrested and convicted under a Texas statute that prohibited desecrating the flag,
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978-1285860381 Chapter 6 Solution Manual Part 1
Suggested Additional Assignments Research: Class Actions Students should find a current article on a pending class action against a large pharmaceutical, tobacco, automobile, or other company. Students should answer these questions: 1. What is a class action? 2. How long has this class action been going? 3. How does a class action change the stakes
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978-1285860381 Chapter 6 Solution Manual Part 2
Trial Adversary System Our system of justice assumes that the best way to bring out the truth is for both sides to go at the various witnesses, enabling a neutral factfinder (judge or jury) to detect the truth. A full demonstration of examination and cross-examination in the classroom may take up too much class
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978-1285860381 Chapter 7 Solution Manual Part 1
Suggested Additional Assignments Research: Corporate Crime Students should find a newspaper or magazine article involving crime committed by a business or corporate executive. What are the economic costs of the (alleged) crime? What penalties can the state impose for the crimes? Are they penalties too harsh or too weak when compared to penalties for
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978-1285860381 Chapter 7 Solution Manual Part 2
Crimes That Harm Business (And Their Customers) Businesses must deal with four major crimes: larceny, fraud, arson, and embezzlement. Larceny is the trespassory taking of personal property with the intent to steal. Fraud refers to a variety of crimes, all of which involve the deception of another person for the purpose
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978-1285860381 Chapter 8 Solution Manual Part 1
Suggested Additional Assignments Research: Criticism by the Press Ask students to find a newspaper article, editorial, or column that harshly criticizes someone. Has the author or publisher made efforts to avoid a claim of libel? How? Research: On Line Defamation Ask students to find an on-line posting either on a social networking site or celebrity
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978-1285860381 Chapter 8 Solution Manual Part 2
You Be the Judge: Boeken v Philip Morris Incorporated1 Facts: In the mid-1950s, Richard Boeken began smoking Marlboro cigarettes at the age of 10. Countless advertisements, targeted at boys aged 10 to 18, convinced him and his friends that the Marlboro man was powerful, healthy and manly. Eventually, Richard changed
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978-1285860381 Chapter 9 Solution Manual Part 1
Suggested Additional Assignments Field Work: An Accident Waiting to Happen Ask students to find a negligence suit waiting to happen and report their findings during class. They should try to spot some careless maintenance, unsafe condition, or other unreasonable behavior that invites a problem. Are the school stairs in satisfactory condition? Are the doors
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978-1285860381 Chapter 9 Solution Manual Part 2
Case: Truong v. Nguyen1 Facts: On a warm California day, there were about 30 personal watercraft (jet skis) operating on Coyote Lake. The weather was fair and visibility good. Anthony Nguyen and Rachael Truong went for a ride on Anthonys Polaris watercraft. Cu Van Nguyen and Chuong Nguyen (neither of whom
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BLAW 13553
Erica's supervisor told her to arrange for a conference room at the Kelly Inn. Erica has express authority to contract for the room. a. True b. False Answer: True Answer: True Answer: True An assignment is valid from the moment it is made, regardless of whether the assignor notifies the obligor. a. True b. False Answer: True Answer: True Answer: True Trein,
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BLAW 17946
Ambiguities in contracts are always interpreted in favor of the side that wrote the contract, since they are the ones who know what the provision is supposed to mean. a. True b. False Answer: False Answer: False Answer: False Which of the following are remedies available to a successful plaintiff under Title VII? a. Hiring, reinstatement, and
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BLAW 25773
If the court awards a partition to co-tenants, the court will normally attempt a partition by kind. If partition by kind is impossible because there is no fair way to divide the property, the court will order the real estate sold, and the proceeds equally divided. a. True b. False Answer: True Answer: True Answer:
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BLAW 31139
Under the Endangered Species Act, what federal agency in the Department of the Interior is responsible for preparing a list of species that are in danger of becoming extinct? a. National Park Service b. Fish and Wildlife Service c. Bureau of Land Management d. Bureau of Safety and Environmental Enforcement Answer: b Answer: b Answer: b Musical Productions
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BLAW 31320
Zach decided to incorporate his business under the name of "Zamm." In addition to "Zamm," the Model Act requires that Zach include one of the following words: "corporation," "incorporated," "limited," or "company" or an abbreviation thereof. a. True b. False Answer: True Answer: True Answer: True In order to be considered sexual harassment, behavior must be
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BLAW 40441
Which of the following statements is correct regarding the differences between contract, tort, and criminal law? a. Tort and criminal law both impose a punishment for the defendant including prison and/or a fine. b. Criminal law imposes duties of conduct on all persons. c. Contract law awards money damages for the plaintiff; tort and
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BLAW 43939
MegaCorp is incorporated under Delaware law. It is registered to do business in New York. Legally, in New York MegaCorp is known as what kind of corporation? a. Domestic b. Foreign c. Secondary d. Cumulative Answer: b Answer: b Answer: b Generally, a joint venture is a partnership created for one limited purpose. a. True b. False Answer: True Answer: True Answer: True A
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BLAW 45288
Buddy was hired to play drums for a rock group scheduled to tour the Midwest. Part way through the tour, Buddy was tragically killed in a plane crash. The tour had to be discontinued until a new drummer could be found. The band lost money on the tour. Is Buddy's
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BLAW 46902
At her neighbor's garage sale, Constance buys a vanity dressing table from her neighbor, Carlos, for $160. Constance purchased the vanity table for her own personal use, without any knowledge that Carlos had signed a security agreement giving All Purpose Furniture, Inc. a security interest in the vanity table. All
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BLAW 56764
Which of the following statements regarding a negligence case is correct? a. A plaintiff must show that the defendant's act was both the factual cause of her injury as well as a foreseeable injury. b. A plaintiff must show that the defendant's act was the factual cause of her injury even if the
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BLAW 60021
When a debtor no longer has an obligation to pay a debt, that debt has been a. terminated. b. revoked. c. completed. d. discharged. Answer: d Answer: d Answer: d The Electronic Communications Privacy Act of 1986 is a federal statute that regulates email. a. True b. False Answer: True Answer: True Answer: True Andy's business is not able to pay its debts, and
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BLAW 80664
RayCorp offers to buy out MegaCorp by paying $69 per share. LandCo, who also wants to buy MegaCorp, offers to pay $75 per share. When the bidding process is finally over, RayCorp has offered $85 per share and LandCo has offered to pay $90 per share. MegaCorp agrees to sell to RayCorp
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BLAW 87928
Which of the following statements best exemplifies how society as a whole benefits from ethical behavior? a. Consumers are willing to pay more for a product they believe to be ethically produced. b. People feel better when they behave ethically. c. Unethical behavior can be very costly. d. Ethical behavior builds trust which is
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BLAW 87932
The Foreign Sovereign Immunities Act (FSIA) provides that American courts generally cannot hear suits against foreign governments. Describe the three possible exceptions to this rule. Answer: The three possible exceptions to the Foreign Sovereign Immunities Act deal with waivers, commercial activity, and violation of international law.First, a lawsuit is permitted against
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BLAW 97045
In a derivative lawsuit, any proceeds awarded by the court must be paid to the corporation, not the shareholders themselves. a. True b. False Answer: True Answer: True Answer: True Which of the following is TRUE in cases based on claims of disparate treatment? a. The plaintiff must prove that the defendant intentionally discriminated. b. The defendant must
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BUS LAW 17657
Jorgeson Co., on its website, promised the company would not give a customer's personal information to third parties without the customers consent, but then gave out such information anyway. This practice violates Section 5 of the FTC Act. a. True b. False Answer: True Answer: True Answer: True Bill is injured when his new motorcycle speeds
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BUS LAW 26667
Veritas, Inc. is planning its annual shareholder meeting on June 15. The company a. need not send notices of the meeting to shareholders since it is the regularly scheduled, annual meeting, which Veritas always holds on the third Thursday of June. b. must send notices to everyone who owns stock as of
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BUS LAW 43682
If Morales and Rolfes Supply negotiate for the purchase and sale of a supply of fuel for a three-year period for Morales business, a. the contract may indicate a method for determining the price, without stating a definite price. b. Morales and Rolfes must depend on the UCCs gap-filler provisions to determine
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BUS LAW 52212
Pat's Pen Co. manufacturers and sells an inexpensive ball-point pen. Salley's Stationery purchases the pens for $.25 each in quantities of 1,000. Salley's discovered that a national chain, a competitor of Salley's, buys the pen at $.20 for 1,000. If Salley's Stationery sues Pat's Pen Co. for price discrimination a. Pat's
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BUS LAW 58602
Which of the following is/are generally subject to a standard of strict liability for bailed goods? a. contract carriers and common carriers b. common carriers and innkeepers c. common carriers d. contract carriers Answer: c Answer: c Answer: c TriColor, Inc. is doing business in Minnesota, West Virginia, and Oklahoma. TriColor must register in all three of these
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BUS LAW 59692
Under the Fair Debt Collection Practices Act, a collection company is legally permitted to a. call the debtor at any time of the day. b. call acquaintances of the debtor to tell them that the consumer is in debt. c. call the debtor even if the debtor has requested in writing that he
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BUS LAW 74857
Which of the following persons is NOT an agent? a. Diane, a shoe salesperson for a retail store. b. Tim, a real estate broker for a large real estate company. c. Craig, a telephone marketing employee. d. Harold, a trustee to the beneficiaries of an estate. Answer: d Answer: d Answer: d A finding by a court that
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BUS LAW 76263
Ethics is the study of how people should act. a. True b. False Answer: True Answer: True Answer: True Reva prepares and signs a document that she intends to be her will. If she has not followed the legal technicalities of her state regarding executing a will, the court may not enforce the will. a. True b. False
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BUS LAW 77722
Future interests in land a. are presently existing nonpossessory rights that may or may not develop later. b. are possessory interests because they permit the holder to take possession at some point. c. must create a right to, not merely the possibility of, possession at some time in the future or they would
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BUS LAW 80544
The statement, "You will have a job with Snelling & Snelling as long as you complete your degree in business administration this May does not create a condition because it does not include the phrase "provided that. a. True b. False Answer: False Answer: False Answer: False There are two types of commercial paper: express and
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BUS LAW 80897
Research indicates that consumers are willing to pay more for a product that they believe to be ethically produced. a. True b. False Answer: True Answer: True Answer: True What is the key to all conditional clauses? a. If a condition in a contract does not occur, public policy will require only substantial performance by the party
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BUS LAW 85491
In Jones v. Clinton, the court held that a. Paula Jones did not demonstrate the essential elements for her claim. b. Paula Jones was entitled to a summary judgment. c. the case be dismissed because of the Presidents governmental position. d. President Clinton failed to comply with a discovery order. Answer: a Answer: a Answer: a Auditors
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BUS LAW 85901
Lance indorses a promissory note to Connie in exchange for consideration. Unknown to Lance, the note is not good because the maker's signature was forged. Connie later attempts to present the instrument for payment to the original alleged maker, Lilly, who is able to deny liability for payment due to the
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BUS LAW 87019
Which of the following are generally considered to be legal offers? a. placing an item up for auction b. catalog advertisements c. price lists d. a note scribbled on a restaurant napkin that includes the details of the offer Answer: d Answer: d Answer: d Nevada passed a law banning all commercial billboards along state highways to improve
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BUS LAW 89249
According to Michael Porter, a company should not undertake a corporate social responsibility project unless a. it is profitable for the company in its own right. b. it improves the company's reputation. c. it truly makes a difference in the world. d. it is absolutely necessary to do business. Answer: a Answer: a Answer: a Jimmy stole Daves
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BUS LAW 99614
Harriett raises and sells hippos. In order to keep her hippos happy and healthy, she feeds them Hippo Chow, which she buys from the local pet store. Under the UCC, Harriett is a. a merchant of both hippos and Hippo Chow. b. a merchant of hippos, but not of Hippo Chow. c. a merchant
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Business Law 17489
Jim was a mechanic. One day when he attempted to weld a car's gasoline tank, it exploded and he was hurt. He filed to collect workers' compensation. His employer resisted on grounds that Jim had been negligent and had also violated the express regulations of the company when he attempted
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Business Law 18349
In order to constitute as a gift, a. the donor must intend to transfer ownership of property within his or her lifetime. b. the donee need not actually accept the gift. c. the donor must deliver the gift property to the donee. d. the donor may revoke the gift at any time. Answer: c Answer: c Answer:
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Business Law 20753
Creditors of Northern Hydraulics file an involuntary bankruptcy petition against the company and the petition is approved. What is true of Northern Hydraulics? a. Northern Hydraulics has at least $10,425 in debts. b. There are at least 12 creditors. c. A custodian has automatically been appointed. d. It must make all the filings necessary
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Business Law 25325
Under the Americans with Disabilities Act, a person with a disabling illness a. is not considered disabled once the illness is being managed with medicines. b. is not considered disabled unless there is no known cure. c. is considered disabled, but only at times when hospitalization is required for treatment. d. is considered disabled,
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Business Law 31587
Shoe Sunshine, Inc. filed for bankruptcy protection under Chapter 11 and submitted a plan of reorganization within 120 days after filing for relief. Two of the classes of creditors voted against the plan. However, the bankruptcy judge considered the plan to be feasible, fair, and in the best interests of
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Business Law 38719
Res ipsa loquitur shifts the burden of proof from the plaintiff to the defendant. a. True b. False Answer: True Answer: True Answer: True One of the accountant's most important roles is to serve as an independent evaluator of the financial statements issued by management to investors and creditors. a. True b. False Answer: True Answer: True Answer: True Which of
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Business Law 44123
If a buyer does not receive goods by the contract deadline, remedies available include all of the following EXCEPT a. incidental and consequential damages. b. cover. c. damages for non-delivery. d. cure. Answer: d Answer: d Answer: d Chapter 13 bankruptcy a. is used by businesses to reorganize their financial situations. b. is an involuntary bankruptcy. c. can be used only
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Business Law 51892
When measured in dollars, street crime costs society more than twice as much as white-collar crime. a. True b. False Answer: False Answer: False Answer: False Charlene Brown has possession of a check made out to the order of Charlene Brown (herself) which she received in payment for writing a manuscript for her publisher. Charlene is
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Business Law 52340
Bry, Inc. and Gangl Co. entered into an oral agreement for the sale of 3,000 sweaters. Both parties performed as required under the contract. Bry delivered the sweaters and Gangl accepted and paid for them. Since the contract is fully executed, it makes no difference that it was an oral
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Business Law 58293
The Environmental Protection Agency was investigating whether Exgrow, Inc. violated the Clean Air Act. Exgrow refused to give the EPA its computerized reports concerning pollution. To get the reports, EPA should use a. a stare decisis. b. a de novo. c. an excaliber. d. a subpoena duces tecum. Answer: d Answer: d Answer: d Which approach to
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Business Law 64943
Which of the following opinions indicates that the company's financial statements fairly present its financial condition according to GAAP? a. Qualified opinion b. Adverse opinion c. Disclaimer of opinion d. Unqualified opinion Answer: d Answer: d Answer: d Commercial paper is a contract to pay money. a. True b. False Answer: True Answer: True Answer: True Kyle was eating clam chowder soup in a restaurant
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Business Law 74914
Dr. Gavornne advises his very ill patients to prepare a living will. The purpose of a living will is to a. make a disposition of property. b. express a desire not to have extreme medical treatment that would prolong their lives. c. transfer life insurance. d. consent to organ donation. Answer: b Answer: b Answer: b Ramon
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Business Law 79206
A buyer's material breach gives the seller the right to refuse to deliver the goods. a. True b. False Answer: True Answer: True Answer: True "Scriveners error is another (fancier) name for a typo. a. True b. False Answer: True Answer: True Answer: True The "tipper" of inside information can be convicted of a crime, the "tippee" cannot. a. True b. False Answer: False Answer: False Answer:
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Business Law 88928
Mike is planning on incorporating his business in the state of Delaware. Which of the following regarding the name of Mike's business is TRUE? a. He will be able to use the words "Association" or "Institute" in his company name. b. He will not be able to use abbreviations (such as Inc.
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Business Law 94080
Which person argued that a corporate manager's primary responsibility is to the shareholders of the organization and that managers should make the company as profitable as possible while also complying with the law? a. John Rawls b. John Stuart Mill c. Immanuel Kant d. Milton Friedman Answer: d Answer: d Answer: d If a minor can cancel a
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Chapter 1 Congress Passed A Law Imposing Penalties For Displaying
1. Congress passed a law imposing penalties for displaying "indecent" material online where children could see it. If the U.S. Supreme Court subsequently rules that the statute conflicts with the First Amendment of the U.S. Constitution, the statute is void. a. True b. False ANSWER: True POINTS: 1
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Chapter 10 Chaney V Fayette
Case: Chelsea Chaney v. Fayette County Public School District1 Facts: Chelsea Chaney was a seventeen-year-old high school student in Fayette County, Georgia. At a county-wide Internet safety seminar, Curtis Cearley, the Districts technology director, presented a PowerPoint slideshow to illustrate the permanent and often-embarrassing nature of social media postings. The
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Chapter 10 The Internet Was Started In The 1960s As A Project 
1. The Internet was started in the 1960s as a project to link military contractors and universities. The World Wide Web was created as a subnetwork of the Internet. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy
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Chapter 11 One Purpose Of Contract Law Is To Determine Which 
1. One purpose of contract law is to determine which agreements are worthy of legal enforcement. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 12 Vivian Will Get The Lamp C Generally The
1. When Olga asks Sven if he wishes to sell his Harley motorcycle, he replies that he would not sell it "for less than $2,000." Olga replies, "I accept," and hands him $2,000. A contract exists. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's:
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Chapter 13 Courts Distinguish Between Mere Gifts Between Parties
1. Courts distinguish between mere gifts between parties and legally binding commitments by the element of consideration. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 14 A Contract May Violate Public Policy Even If The Agreement
1. A contract may violate public policy even if the agreement does not violate a statute. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 15 The Defendant Made The Statement
1. Spencer, age 18 and of sound mind, has the legal capacity to contract. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2.
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Chapter 16 Yes This Personal Satisfaction Contract And Alfred
1. Hannah orally agrees to sell her house to Brett for $175,000. If she delivers the deed to Brett with the expectation of payment in two weeks and he fails to pay, most courts will not enforce the contract since it was not in writing. a. True b.
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Chapter 17 Computer City Installment Loan Contract The Sales Contract
1. An assignment is valid from the moment it is made, regardless of whether the assignor notifies the obligor. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS:
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Chapter 18 Alice Signs A Contract With Bob To Buy Bob’s House
1. Alice signs a contract with Bob to buy Bob's house for $150,000, with the clause, "if I am able to obtain a mortgage loan for $125,000, at no more than 7% interest, payable over 15 years." Assume that Alice tries but is unable to obtain the described loan, and
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Chapter 19 Bob Has Put 10000 Worth Materials Into
1. Injunctions are frequently used by courts to force employees to complete their contractual obligations with their employers. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's:
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Chapter 2 Ethics Is The Study Of How People Should Act
1. Ethics is the study of how people should act. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. Life Principles are set
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Chapter 20 Miami Dolphins Later Claims That He Was Also
1. If you have an established relationship with a buyer, you can sell small tracts of land without a written contract. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1 DIFFICULTY:
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Chapter 21 The UCC Is Federal Legislation Enacted By Congress
1. Under the UCC, a modification to a contract for the sale of goods needs no consideration to be binding. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate
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Chapter 22 Only One Party Can Have An Interest In Particular Goods
True / False 1. Only one party can have an interest in particular goods at a particular time. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS:
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Chapter 23 A Buyer Has An Absolute Right To Reject Non-conforming
1. A buyer has an absolute right to reject non-conforming goods as long as the rejection is timely. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's:
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Chapter 24 Great State Bank Already Had A Security Interest
1. Pharm-Ace holds a patent on a drug. Pharm-Ace used the patent (evidenced by the patent certificate) to secure a $1 million loan from First Bank. The patent is chattel paper. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1
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Chapter 25 Charlene Brown Has Possession Of A Check Made Out To The Order
1. There are two types of commercial paper: express and implied. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. Commercial paper is
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Chapter 26 Warranty Liability Is The Liability Of Someone Who Gives
1. Warranty liability is the liability of someone who gives payment on a negotiable instrument. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 27 One Of The Accountant’s Most Important Roles Is To Serve
1. One of the accountant's most important roles is to serve as an independent evaluator of the financial statements issued by management to investors and creditors. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 28 Jolene Hired Lacy To Find A Buyer For Her House
1. Larry decided to relocate to Germany. Larry hired Happy Homes, Inc. to find a buyer and contract for the sale of his house in the U.S. The agency relationship between Larry and Happy Homes must be evidenced with a written agreement. a. True b. False ANSWER: True
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Chapter 29 During The Hiring Interview, Supervisor Staci Told Henry
True / False 1. During the hiring interview, Supervisor Staci told Henry that as long as he did his job as requested, he would have a job until he retired. Courts have been willing to enforce such an oral promise under the Truth in Hiring doctrine, even if the
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Chapter 3 The Law Governing The Acquisition Of Territory 
1. The law governing the acquisition of territory and the settlement of disputes among nations is public international law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS:
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Chapter 30 Heather Applied For A Promotion, But Her Manager Promoted
1. Heather applied for a promotion, but her manager promoted a co-worker because the manager knew Heather was seven months pregnant. The manager did not want to promote someone who would probably be taking time off of work for childbirth and child care. The manager has acted legally and reasonably
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Chapter 31 Harold Lawyer Handles All The Legal Matters
1. If partners wish to maintain having protection against personal liability, it is essential to comply with all the technicalities of a limited liability partnership statute. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension
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Chapter 32 Lori Claims Dan Not Entitled Anything Other
1. Nicholas and Holly are partners in a toymaking shop. If Rudolph obtains a judgment against Nicholas for injuring Rudolph while Nicholas was on partnership business, Rudolph must try to collect from the partnership before going after Nicholas personal assets. a. True b. False ANSWER: True POINTS: 1
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Chapter 33 If A Party Enters Into A Contract Believing In Good
1. If a party enters into a contract believing in good faith that the corporation exists, he cannot later take advantage of the fact that it does not. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: True POINTS: 1 DIFFICULTY: Moderate KEYWORDS:
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Chapter 34 A Public Offer To Buy A Block Of Stock Directly From 
1. A public offer to buy a block of stock directly from shareholders is called a tender offer. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's:
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Chapter 35 Alfrieda Purchased An Ownership Interest In A Corporation
1. Alfrieda purchased an ownership interest in a corporation. This gives her the right to use the equipment owned by the corporation, as long as her usage does not interfere with the normal operation of the business. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS:
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Chapter 36 Brad Was Having Financial Difficulties And Thought Bankruptcy
1. Under all chapters of the Bankruptcy Code, most of the debtors assets are distributed to creditors and the debtor has no obligation to share future earnings with creditors. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension ANSWER: False POINTS: 1 DIFFICULTY: Moderate
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Chapter 37 The Securities Act 1933 Established The Securities
1. The Securities Act of 1933 established the Securities and Exchange Commission. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. A control
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Chapter 38 The Sherman Act Was Designed To Prevent Extreme Concentrations
1. The Sherman Act was designed to prevent extreme concentrations of economic power. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. Both
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Chapter 39 The Federal Trade Commission Act Considers The Terms
1. The Consumer Financial Protection Bureau (CFPB) was created to represent consumers by filing suit in federal court asking for damages on behalf of the injured consumer. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's:
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Chapter 4 The Majority Of Work Done By Legislative Bodies Is Performed
1. The doctrine of stare decisis, though vital to the creation of the common law when this country was settled, is not important to our modern, complex society. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS:
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Chapter 40 The Cost-benefit Trade-off Is Particularly Complex In Environmental
1. The cost-benefit trade-off is particularly complex in environmental issues because those who pay the cost often are not the ones who receive the benefit. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER:
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Chapter 41 Clarissa Trademarked Her New Company Samjack After Her Two
1. Clarissa trademarked her new company Samjack after her two sons Sam and Jack. This would be considered a fanciful trademark. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Moderate NOTES: Bloom's: Application ANSWER: True POINTS: 1 DIFFICULTY: Moderate NOTES: Bloom's: Application ANSWER: True POINTS: 1 DIFFICULTY:
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Chapter 42 Jeff And Liz Purchased A House During Their
1. Landlord-tenant relationships are governed by a mixture of property law, contract law, and negligence law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy NOTES: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NOTES: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy NOTES: Bloom's: Knowledge
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Chapter 43 Liability Governed State Statute And Will Depend
1. Jerry enters a restaurant and hangs his coat in an unattended cloakroom near the entrance of the restaurant. Even though no employee of the restaurant is present, the provision of the cloakroom makes Jerry think it will be safe. In this situation, the restaurant is the bailor of Jerrys
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Chapter 44 The Uniform Probate Code Has Been Adopted In All States
1. The Uniform Probate Code has been adopted in all states. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2. Estate planning has
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Chapter 5 The Framers Of Our Constitution, A True Cross Section
1. The Framers of our Constitution, a true cross section of the population at the time, created the Constitution by amending the Articles of Confederation, which had been the governing document of the colonists. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER:
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Chapter 6 If Lorenzo Is Seeking An Injunction Against Brenda
1. If Lorenzo is seeking an injunction against Brenda to prevent her from selling materials that infringe his copyright, he is entitled to a jury trial if the value of the materials is over $100. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Moderate KEYWORDS: Bloom's: Comprehension
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Chapter 7 When Measured In Dollars, Street Crime Costs
1. When measured in dollars, street crime costs society more than twice as much as white-collar crime. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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Chapter 8 A Tort Is A Violation Of A Duty Imposed By The Civil
1. A tort is a violation of a duty imposed by the civil law. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: True POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge 2.
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Chapter 9 Phillips Injury B Win Based Negligence Per Sec
1. Palsgraf v. Long Island Railroad Co. addressed the issue of furnishing alcohol to minors. a. True b. False ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge ANSWER: False POINTS: 1 DIFFICULTY: Easy KEYWORDS: Bloom's: Knowledge
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LGST 11116
The EEOC is the federal agency responsible for enforcing Title VII. a. True b. False Answer: True Answer: True Answer: True Bagsby owns a business selling insects for organic gardening. Bagsby is seeking a loan from First Natural Bank. The loan officer is asking that the loan be secured by Bagsby's inventory of insects, now owned or
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LGST 26357
Adam moved into an apartment complex. The rules of the complex prohibit unmarried men and women from living together in the same apartment. When Adam's friend, Diane, moved into the apartment he was served with eviction papers. Adam claims the apartment complex is violating his constitutional rights since it allows
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LGST 48325
Dean Builders agrees to purchase all of its sump pump requirements for the new houses it builds from Satisfactory Sump Pump, Inc. These two business have had similar agreements the last three years and Dean's requirements have averaged 100 sump pumps per year. This year there was an unusually wet spring
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LGST 61070
Which of the following guarantees that a witness testifying in a court or legislature may never be sued for defamation? a. recovery principle b. protected right to slander c. defamation privilege d. absolute privilege Answer: d Answer: d Answer: d In which of the following situations is the seller a merchant under Article 2 of the UCC? a. Paul, a
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LGST 70945
Betsy's elderly father gave her written authority her to sell the family house. Her father lived in Arizona and she lived in Minnesota. After about two months she found a buyer for the house and signed an acceptance of the offer on March 21. Later that same day she learned
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LGST 72315
Drawers and indorsers are secondarily liable on negotiable instruments. a. True b. False Answer: True Answer: True Answer: True Mid-American Oil had a contract with NSB Company to supply 1,000 gallons of oil by September 1. The contract contained a provision which required all modifications to be written and signed by the company presidents. In early
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LGST 93748
Under the 1934 Act, an issuer must register with the SEC if a. it has not completed a public offering under the 1933 Act. b. its securities are not going to be traded on a national exchange. c. it will not be providing investors with a prospectus. d. it has at least 2,000 shareholders
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LGST 97160
Farmer Elvin is holding 200 pounds of potatoes in storage for Chef Noble but Chef Noble has breached the contract by failing to pay for the potatoes. If Farmer Elvin sells the potatoes to a local diner to make potato soup and salad, then this action would be considered a. a
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LGST 97916
The Model Business Corporation Act states: "All corporate powers shall be exercised by or under the authority of, and the business and affairs of the corporation managed by or under the direction of its a. shareholders. b. officers. c. board of directors. d. executive committee. Answer: c Answer: c Answer: c Diane, a police officer, stops Tim's car for
Business Law and the Legal Environment 7th Edition

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