Implied contracts are unenforceable.
a. True
b. False
Ellen Benson has been operating a small catering business out of her home. Business
growth is now requiring an office and kitchen facilities. Before expanding facilities,
Ellen wishes to incorporate her business. Where would Ellen find the laws of
incorporation?
a. state statutes
b. zoning ordinances
c.Code of Federal Regulations
d.county ordinances
The Antitrust Modernization Commission has proposed material changes in the antitrust
laws to accommodate e- commerce market changes.
a. True
b. False
Chief Justice Roberts not only clerked for former Chief Justice Rehnquist but also
succeeded him as Chief Justice of the Supreme Court.
a. True
b. False
Which of the following statements would qualify for a defamation action (assuming the
statement is false)?
a. “All corporate types are selfish.”
b. “Accountants will sign off on anything.”
c.”He pled guilty to a violation of campaign contribution laws.”
d.All of the above qualify for a defamation action.
For over 30 years, Sterlingware operated a textile dyeing and finishing plant in Fall
River, Massachusetts. During those 30 years, Sterlingware’s employees had been
represented by United Textile Workers of America. In 1982, Sterlingware sold out to
one of its customers, Marcamy Sales. The employees claim Marcamy must continue to
honor their collective bargaining agreement. Are they correct?
In the ParableoftheSadhu, the hikers are certain the religious pilgrim survive
d.
a. True
b. False
Mediation is:
a. the same as arbitration.
b. used frequently in international disputes.
c.regulated by the American Arbitration Association.
d.none of the above
Business self-regulation has been effective in solving social problems.
a. True
b. False
“I’ll take the bike for $75, but first I have to sell my fish tank,” is an example of a valid
acceptance.
a. True
b. False
To establish the tort of false imprisonment, there must have been some physical harm.
a. True
b. False
Corrective advertising:
a. is unconstitutional.
b. is one of the FTC’s many remedies.
c.has never been ordered by a court.
d.none of the above
A limited liability company:
a. can be created informally.
b. does not have the pass-through feature of income and losses.
c.is exclusive to the United States.
d.none of the above
The CAN-SPAM Act:
a. is part of Sarbanes-Oxley.
b. allows companies to bring suit against spammers for their unauthorized use of their
servers.
c.has been declared unconstitutional.
d.none of the above
Under ESIGN, clicking on a tab that reads “I accept” is a valid acceptance to an offer.
a. True
b. False
The 2008 act that includes some regulations on the resale of goods is the:
a. Consumer Product Safety Act.
b. Consumer Product Resale Safety Act.
c.Consumer Product Safety Improvement Act.
d.Consumer Product Resellers Inclusion Act.
is a tort that protects a business whose trade secrets are taken without authorization.
a. Palming off
b. Misappropriation
c.Embezzlement
d.Larceny
Incorporators are not liable for contracts entered into before incorporation.
a. True
b. False
Overtime pay provisions:
a. do not apply to executive and administrative personnel.
b. do not apply if the minimum wage is paid.
c.apply only to federal contractors.
d.none of the above
Ralph Watkins, owner of The Steak Pit restaurant in Billings, Montana, is suing
Western Cornfed Beef, a Kansas City, Kansas, supplier, for breach of contract. Watkins
refuses to pay $22,000 for steaks he claims were never delivere
d.Where will Watkins properly file suit?
a. federal district court in Montana
b. federal district court in Kansas
c.state court in Montana
d.state court in Kansas
The Landrum-Griffin Act is the Labor-Management Reporting and Disclosure Act.
a. True
b. False
Which of the following is not a source of international law?
a. custom
b. private law
c. treaties
d. All of the above are sources of international law.
Trade secrets:
a. cannot be registered.
b. do not carry remedies if they are taken by former employees.
c.are not a form of property and cannot be stolen.
d.none of the above
Owners of a limited liability company:
a. have unlimited liability for contracts entered into by the LLC.
b. can transfer their membership as a personal property interest.
c.cannot assume any management responsibilities.
d.all of the above
Amanda Reiss was injured at a wedding reception at a private home. Amanda tripped
over a piece of rebar that was sticking from the end of one portion of a sidewalk leading
to the front door. Amanda’s lawyer believes that the homeowners were aware of the
rebar problem and that other guests to the home had tripped over it but not been
injured.How can Amanda’s lawyer get the information about the homeowner’s
knowledge?
a. he cannot because they are not required to talk with Amanda’s lawyers
b. he can depose the homeowners
c.he can depose others who have been guests
d.both b and c
In supremacy clause cases, legislative intent of Congress is examined.
a. True
b. False
Lawyers for corporations are required to report misconduct by the corporation to the
SEC after they have exhausted all means for an internal correction.
a. True
b. False
Keller has applied for a position at a summer camp for girls, ages 14-18. The camp
director had called Radical
Board’s manager and asked for a reference on Keller.
a. Radical Board has no liability if it simply verifies Keller’s employment there.
b. Radical Board has liability for its failure to prosecute Keller.
c.Radical Board has no liability for the actions of employees beyond their job
description.
d.Radical Board enjoys a privilege against defamation if it discloses the peep hole story.
e. none of the above
Common law:
a. no longer exists today.
b. began in the United States.
c.exists only in England.
d.was eliminated with the courts of equity.
e. none of the above
A company registered on the New York Stock Exchange must file a 10-Q report.
a. True
b. False
Independent contractors are covered under workers’ compensation.
a. True
b. False
Involvement of the top officers in corporate crimes increases the penalty under the U.S.
sentencing guidelines.
a. True
b. False
The No Electronic Theft Act:
a. prohibits the use of the Internet for personal e-mail on company time.
b. prohibits the transfer of copyrighted material worth over $1,000 over the Internet.
c.prohibits economic espionage.
d.resulted from the Volkswagen/GM espionage case.
When can a company run a tombstone ad?
a. only after the securities registration is approved
b. only if there is a national registration with the SEC
c.only if there is also a blue sky registration
d.after the filing of the registration statement e. none of the above