A monopsony is the same thing as a monopoly.
a. True
b. False
Which is a requirement for establishing apparent authority?
a. underlying express authority
b. an agency agreement
c.both a and b
d.none of the above
The USA Patriot Act imposes stricter standards for employers and deportation.
a. True
b. False
ASCAP fee enforcement may cause changes to or elimination of some traditional
summer activities for children.
a. True
b. False
A default results when:
a. the plaintiff fails to serve a summons.
b. the defendant fails to file an answer in a timely fashion.
c.a counterclaim is filed.
d.none of the above
Which is not a mandatory subject matter for good-faith bargaining?
a. wages
b. hours
c.vacations
d.merit pay
e. All of the above are mandatory subject matters.
Carl Wilton has just sold his Mexican restaurant to Jerry Felt. The restaurant is located
in Costa Brava, a city of about 300,000 people. In their sales agreement, a clause
provides that Carl will not open another restaurant in Costa Brava for a period of five
years. The clause is:
a. a covenant not to compete.
b. void as against public policy.
c.prohibited under the Sherman Act.
d.none of the above
A credit application that asks for criminal convictions from the last five years violates
the ECOA.
a. True
b. False
A spouse cannot apply for credit without the signature of his/her spouse.
a. True
b. False
Conflicts of interest can result in the use of quidproquo.
a. True
b. False
Developing a process to extract new matter for other uses from existing matter is
patentable.
a. True
b. False
Which of the following countries base their legal systems on code law?
a. Great Britain
b. Italy
c. France
d. Spain
Which of the following statements is correct about subject matter jurisdiction?
a. Federal courts in the United States would have subject matter jurisdiction.
b. Federal courts in the United States do not have subject matter jurisdiction because
Bassett is from another country.
c.Federal courts do not have jurisdiction because the amount in dispute does not meet
the federal minimums for jurisdiction.
d.Because this is a contract action and no federal statute is involved, the federal courts
do not have jurisdiction.
Animo runs a website that allows amateur photographers to post photographs that they
have taken for purposes of getting their work recognized and with the hope that others
will see their works and purchase them for use in ad, textbooks, and other publications.
Animo employees do not review the website, but they do remove photos when notified
that a posted photo is not posted with permission and is copyrighted by someone other
than the person who posted it. Applying the decisions from the Groksterand
Viacomdecisions, which of the following statements is correct?
a. Animo is liable for copyright infringement because it does not check its cite for
possible violations.
b. Animo is liable for copyright infringement once it is notified of a problem, but does
not take action.
c.Because Animo does not accept payment from photographers for the posting and
cannot be liable for copyright infringement.
d.Animo is liable for copyright infringement only if the owner of the copyright notifies
it of the infringement.
The tort of false imprisonment requires proof of some actual injury.
a. True
b. False
“Talk to Ann. She used to work here, but I think she is the best one to get this deal done
for us,” is an example of express authority given to an agent.
a. True
b. False
A contract for the sale of potatoes is not governed by the UCC.
a. True
b. False
Members of limited liability companies have no right to vote on who should manage
their companies.
a. True
b. False
A company filing Williams Act materials is not required to file proxy materials.
a. True
b. False
Internet companies are permitted to collect information about users’ purchasing habits
without advance disclosure.
a. True
b. False
A power of attorney is an example of an agency relationship.
a. True
b. False
Jim Braun has been a partner in a real estate investment partnership with Alicia Kaynes
for 10 years. When the real estate market took a downward turn, one of their
investments in a strip mall became a cash drain. Jim refused to contribute any more
cash and withdrew from the partnership. Alicia was left to manage the property. Before
she could sell it, Alicia had put in $125,000 into the strip mall property. Following the
sale, Alicia demanded one-half of the $125,000 from Jim. Jim said he is not liable
because he left the partnership.
a. Jim is correct; he withdrew and his liability ended.
b. Alicia is correct; Jim owes her his share of what she paid.
c.Neither is correct; how much Jim owes depends on when he withdrew.
d.none of the above
Which of the following is not a remedy available under Title VII?
a. back pay
b. injunctions
c.punitive damages
d.affirmative action plans
e. All of the above are remedies available under Title VII.
Regulation D offerings:
a. are all restricted on the number of purchasers.
b. cannot use advertising.
c.are not subject to transfer restrictions.
d.all of the above
Forum selection clauses:
a. are prohibited in cruise contracts.
b. are illegal under U.S. law.
c. eliminate liability.
d. none of the above
SIPs must be approved by the EPA.
a. True
b. False
Revocation can be valid any time prior to acceptance.
a. True
b. False
Janis Hoffman was involved in a tailgate brawl that took place in the parking lot of
State U just prior to one of State’s football games. Janis and others have charges
pending with the county attorney. State U has filed charges against Janis and the others
for violation of State U’s code of conduct that prohibits disorderly conduct on university
property. She has been suspended for a semester. When she requested a hearing she was
told that the charges by the county were sufficient proof for her university misconduct
charges.
a. State U officials are correct; the criminal charges will give Janis her due process.
b. State U officials must still provide Janis with a hearing on the University charges.
c. The University charges will not stand until Janis is convicted.
d. both b and c
Which of the following is not an exemption to the Robinson-Patman Act?
a. sales to nonprofit institutions
b. sales to local governments
c.sales to the federal government
d.All of the above are exemptions.
Which of the following forms of business structure provides limited liability for the
personal assets of the owners?
a. sole proprietorship
b. general partnership
c.LLC
d.partnership by implication
e. All of the above provide limited liability.
On which federal statute do states base their right-to-work laws?
a. Taft-Hartley
b. Fair Labor Standards Act
c.ERISA
d.OSHA
e. none of the above
In a master/servant relationship, the principal exercises little control over the agent.
a. True
b. False
A false prospectus is covered under Section 11.
a. True
b. False