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The Sherman Act does not apply unless sales across state lines are involved.
a. True
b. False
Which of the following acts established the NPDES system?
a. Water Pollution Control Act of 1948
b. Water Quality Act
c.Rivers and Harbors Act
d.Federal Water Pollution Control Act of 1972
The U.S. Army purchased a large number of Bell Jet Ranger helicopters in 1963. Many
of the helicopters served tours of duty in Vietnam and after the war were returned to the
United States. Because of damages sustained during the war, many of the helicopters'
engines were rebuilt. In 1974, one of the helicopters with a rebuilt engine crashed
because of engine failure. The families of the two servicemen killed in the accident
wish to recover from Bell under 402A. What defense could Bell probably successfully
allege?
a. misuse of the product
b. product modification
c.assumption of risk
d.none of the above
The purpose of an omnibus hearing is to:
a. issue an indictment.
b. issue an information.
c. hear evidentiary challenges.
d.have the defendant enter a plea.
Ethics consists of the unwritten rules we apply in both business and personal lives.
a. True
b. False
Inspections are a means of enforcement for administrative agencies.
a. True
b. False
Which of the following is not an example of a law that promotes equality?
a. employment discrimination laws
b. antisegregation statutes
c.Social Security statutes
d.trespassing statutes
e. All of the above laws promote equality.
A merger is the combination of two firms into one of the old firms.
a. True
b. False
Which of the following meetings would be subject to the open-meeting provisions of
the federal sunshine laws?
a. a meeting of the staff attorneys of the SEC enforcement division
b. a meeting of the division heads of the Federal Trade Commission
c. a meeting of the nine justices of the U.S. Supreme Court
d. a meeting of three of the five commissioners of the Federal Aviation Administration
All companies required to register under the 1934 Act must file a 10-K report.
a. True
b. False
Administrative regulations are promulgated by:
a. Congress.
b. constitutional conventions.
c.administrative agencies.
d.state legislatures.
e. none of the above
Merit systems:
a. are valid if applicable to all employees.
b. were outlawed under Title VII.
c.are valid if sanctioned by a union.
d.none of the above
Servers are always required to reveal the identity of their customers and users.
a. True
b. False
Which of the following actions can the SEC take if there is a violation of Section 14 on
proxy solicitation?
a. an injunction preventing the vote with the proxies
b. "unwinding" the election results
c.order reimbursement of costs for second solicitation by the party who violated Section
14
d.The SEC can take any of the above actions.
John Freeden is negotiating with Bill Murray to buy Bill's mountain bicycle. The
following conversation has taken place:
John: "I will buy your mountain bike for $325.00." Bill: "I couldn't sell it for less than
$375.00."
John: "I'll take it for $375.00."
Which of the following statements is true?
a. Bill and John have a contract for the sale of the bike at $375.00.
b. Bill and John have a contract for the sale of the bike at $325.00.
c.Bill and John do not have a contract.
d.none of the above
Where else would the proposed regulations need to be published?
a. The only requirement is that the regulations be published in the FederalRegister.
b. They must be published in any trade magazine of affected industries.
c. They must be published in the Congressional Record.
d. They must be published first in the Code of Federal Regulations.
A limited liability company can be created informally.
a. True
b. False
The purpose of the new mandatory discovery provisions is to:
a. remove the element of surprise from litigation.
b. make litigation more of a quest for the truth.
c.minimize discovery times and costs.
d.All of the above are reasons mandatory discovery was adopted.
During President Obama's State of the Union address in 2009, Justice Alito was
captured on camera visibly disagreeing with the President about that case's outcome.
a. True
b. False
FLSA no longer contains provisions on overtime pay.
a. True
b. False
Generally, joint ventures among competitors in international business are
perseviolations of the Sherman Act.
a. True
b. False
"I'm thinking of selling my CD player," is an example of offer language.
a. True
b. False
The Wheeler-Lea Act:
a. expanded the FTC's authority to regulate advertising.
b. limited the FTC's authority to regulate only ads that affected competition.
c.eliminated the FTC authority to require corrective ads.
d.none of the above
Unemployment benefits are administered by the federal government.
a. True
b. False
Under the Lilly Ledbetter Fair Pay Act, each new paycheck triggers a new filing perio
d.a. 45 day
b. 90 day
c.180 day
d.360 day
A newspaper running a picture of Julia Roberts' twins has invaded her privacy.
a. True
b. False
If a judge grants a motion for a judgment NOV, the effect is a reversal of the jury
verdict.
a. True
b. False
The implied warranty of fitness for a particular purpose (unless disclaimed) is given in
every sale of goods by a merchant.
a. True
b. False
The city of Mesa has developed a street improvement plan that will add lanes to one of
the major north/south corridors. Because of the addition of the lanes, businesses along
the corridor will lose frontage. However, none of the businesses will be required to
move. Which of the following statements is true?
a. The city need not compensate the businesses since they will still remain intact.
b. The city must compensate the businesses for taking.
c. The city cannot take land for this purpose.
d. The city can attach "0" value to the frontage.
Which of the following is not a risk associated with international contracting?
a. Currency exchange rates
b. Transportation costs
c.Fee collection
d.None of the above
Union/management laws demonstrate the role of law as a compromiser.
a. True
b. False
Which of the following employer policies would violate the Pregnancy Discrimination
Act?
a. requiring pregnant employees to leave the work force at seven months
b. providing medical insurance benefits that cover all illnesses except pregnancy
c.loss of seniority upon return from pregnancy leave
d.all of the above
Phillip Esten operates a mail store in which he offers various services such as packaging
items for shipment, delivering items to overnight services, and a fax machine. Esten has
been charging $2.00 per page for the fax service, but a new store has opened in a nearby
shopping center that is charging $1.00 per page. Esten lowers his price to $.50 per page,
knowing this charge will not always cover his cost. Esten's actions:
a. constitute predatory pricing and are a violation of the Robinson-Patman Act.
b. constitute meeting the competition.
c.constitute resale price maintenance violations.
d.none of the above
The Supreme Court uses the direct and immediate effect test in reviewing congressional
regulation of interstate commerce.
a. True
b. False
Radio Electronics' plant in Mississippi held a union election on January 3, 1999, and the
United Electronics Workers was certified as the collective bargaining agent for the
plant. Many of the workers (42 percent) are dissatisfied with the result and feel that if
they stage a better campaign, the election results will be different. How quickly can
these workers demand an election?
a. January 4, 1999
b. 30 days from January 3, 1999
c.one year from January 3, 1999
d.none of the above
