Unless limited by the articles of incorporation, shareholders may vote to remove a
director with or without cause, however; the courts may only remove a board member
for cause.
An easement is a nonpossessory interest in land.
Some courts have determined that the inclusion of an arbitration clause in an acceptance
as a means of dispute resolution constitutes a material alteration of the offer in a
merchant transaction.
One important aspect of a successful workers’ compensation claim is that the
employer’s fault, negligence or wrongdoing does not have to be evidenced or proven for
the injured employee to be compensated.
A nonprofit corporation is not permitted to make or produce revenue.
Pablo has entered into a contract to paint Linda’s portrait. The next day, Pablo is called
by the White House to paint the official portrait of the first family. Since it will be
impossible for Pablo to do both simultaneously, Pablo calls Salvador and asks him to
substitute for him and paint Linda’s portrait. Because Salvador is a world famous artist
with paintings hanging in the New York Metropolitan Museum of Art and the Louvre in
Paris, Salvador does not have to get Linda’s permission for this novation as long as
none of the contract terms and conditions are changed.
White collar crime almost always consists of nonviolent types of crimes.
Title to commercial real estate is conveyed through a contract while title to
noncommercial real estate, such as private homes, is conveyed through a deed.
If an agent is acting within the scope of her employment, should she commit an
intentional tort harming a third party the principal may be liable for the injuries
sustained.
Zippo’s is an on-line retailer of men’s and women’s clothing and fashion accessories.
They maintain a list of their customers and their customer’s preferences. This list could
qualify as a trade secret.
Most agencies do not have an enforcement division to investigate violations of the
regulations and rely on the Department of Justice for this function.
Minimum contacts in a state need not be shown if an out-of-state corporation’s conduct
has the reasonably foreseeable potential to cause injurious effects to a forum state
plaintiff.
The SEC issuing licenses to individuals to trade stocks is not an agency function
because it is regulating individuals and not businesses.
The Fair Credit Reporting Act requires each of the credit bureaus to give consumers a
free copy of their credit report at least twice a year.
The Federal Arbitration Act provides a means for enforcement of arbitration agreements
and decisions of arbitrators through the use of the state courts in which the arbitration
took place.
LLCs may choose to be taxed as a pass through entity or may elect to be taxed as a
corporation.
Except for family agricultural jobs and child actors, the Fair Labor Standards Act
prohibits the employment of 13 year olds.
An agency’s prosecutorial discretion is seen as practically unreviewable by the
judiciary.
Congress has oversight over administrative agencies through the Senate’s power of
advice and consent.
Leah has just handed in a major required report to her professor and after careful
scrutiny, the professor finds numerous instances of plagiarism. If the school policy and
the professor’s personal perspective follow a principles-based approach, Leah should be
charged and suffer whatever penalty is prescribed by school policy.
The NBA signing an agreement for all the teams to wear a single brand of shoes would
not fall under the Sherman Act.
Corporate bylaws are public documents that must be filed with the appropriate state
corporation office.
A limited partnership is required to have two or more limited partners.
A life estate gives the owner more rights than a fee simple.
Courts have been very reluctant to extend reasonable expectations of privacy rights to
the workplace.
An insurance company can not qualify for Subchapter S corporate status.
The invisible hand theory advocates do not trust corporate leaders with stewardship
over noneconomic values.
United Parcel Service has determined that the fewer left turns their trucks make the
more fuel they can conserve and the savings are significant. As a result, they have gone
to great lengths to design and schedule delivery routes that primarily make right turns.
This business method is patentable.
A successful Age Discrimination in Employment Act suit required that the plaintiff
affirmatively prove that age was the direct reason for the adverse employment action
suffered.
The right to confront witnesses through cross examination is contained in the Sixth
Amendment.
Ralph calls Alice and asks her out on a date to see a movie. Alice agrees. This is the
type of promise that the courts will enforce as a contract.
Which of the following is not true regarding a firm offer?
A.firm offers automatically occur when an offer or promise is made by one merchant to
another
B.firm offers do not require consideration for the offer to remain open
C.firm offers only occur between merchants
D.firm offer must be in writing
The SEC is comprised of ________ commissioners.
A.three
B.five
C.seven
D.nine
Sally has just purchased a home and wants to have an in ground pool installed. She
calls, Cool Pools, the company that put in her neighbor’s pools. When they come out
they do some soil tests that are standard for the industry and get the same results that
they got when the other pools were put in so they give her a price quote of $16,000.
When they begin excavating, they discover solid rock four feel below ground level. The
neighbors had no such rock. Cool Pools stops work and informs Sally that due to the
rock they will have to use explosives to remove the rock and the cost of the pool will
now be $32,000.
A.Sally is under contract and will have to pay the new price.
B.Sally can have the contract discharged based on impracticability.
C.Sally can have the contract discharged based on impossibility.
D.Sally can have the contract discharged based on frustration of purpose.
The Clean Air Act (CAA) requires that ________ determine how to achieve the
National Ambient Air Quality Standards (NAAQS).
The Zippo standard requires a case by case analysis:
A.whenever the web site in question is considered passive.
B.whenever the web site in question is considered interactive.
C.whenever the web site in question is considered integral to the business model.
D.whenever a web site is involved regardless of how it is classified.
If Alabama passes a statute specifically permitting high school girls to try out and play
on varsity high school football teams if qualified, that statute would be reviewed using:
A.rational basis scrutiny
B.intermediate scrutiny
C.strict scrutiny
D.no particular form of scrutiny is required in this situation
What is not a requirement for the undue hardship standard?
A.the debtor cannot maintain a minimal standard of living for herself and her
dependents
B.the debtor has no marketable skills that would allow him to be employed
C.this state of affairs is likely to persist for a significant portion of the repayment period
D.the debtor has made good faith efforts to repay the loan
Which of these is not a major source of administrative law?
A.the Constitution
B.enabling statutes
C.the Administrative Procedures Act
D.public opinion
Actions by which of these would fall under the National Environmental Policy Act
(NEPA)?
A.Joe Jackson, a private citizen
B.Colorful Paint Company, a business
C.New York’s Department of Transportation
D.Food and Drug Administration
Two merchant companies have entered into a contract for the sale of goods but have
had no prior dealings which would establish a course of conduct between them. The
UCC will allow gap fillers to apply to their contract regarding missing terms in each of
the following situations except:
A.they have failed to specify when payment for the goods is to be made.
B.they have failed to specify where delivery of the goods is to be made.
C.they have failed to specify the quality or grade of the goods to be delivered.
D.they have failed to specify the price of the goods to be delivered.
Under the exclusionary rule:
A.judges who have handled previous cases involving the defendant before them
currently at trial must excuse themselves due to possible preformed biases.
B.potential jurors who show an obvious bias may not serve on a jury in order to make
sure trials are as fair as possible.
C.a sole proprietor’s business records may not be seized even if pursuant to a warrant if
they are considered personal papers.
D.illegally obtained evidence may not be introduced at trial.
Thirteen sorority sisters decide to start a dog walking business. They incorporate under
the name Pro Canine Walkers, Inc. and advertise their services throughout the city in
newspapers and with flyers they post. All stock is owned by the thirteen principals and
none is offered to anyone outside of the thirteen. This corporation would be classified
as:
A.a privately held corporation.
B.a privately held public corporation.
C.a privately held professional corporation.
D.a privately held public professional corporation.
Which of the following is not required for promissory estoppel to apply?
A.the promise made must be reasonable
B.the promise made must be relied on by the promisee to the promisee’s detriment
C.the promisor must suffer an injustice if the promise isn’t enforced
D.the promisor must know that the promisee is likely to rely on the promise
Pete has been fired from his job and believes that he has been wrongfully terminated.
As he decides how to fight the perceived injustice, how can he best mitigate damages?
A.file his suit as soon as possible while the evidence is available and witnesses
recollections are fresh
B.file for unemployment insurance as quickly as possible so he doesn’t sink too far into
debt
C.call his former employer to determine the real reason he was fired
D.actively seek new employment as soon as possible
Which of these is not a class of principally responsible parties (PRP) under the
Superfund?
A.current owners
B.previous owners
C.owners at the time when the hazardous substances were disposed on the site
D.business that accepted hazardous substance for transportation to the site and selected
the site
Dissolving a limited partnership requires:
A.a unanimous vote amongst all partners.
B.a unanimous vote of the general partners and a majority vote of the limited partners.
C.a unanimous vote of the general partners and consent of any limited partner who
owns a majority of the rights to receive a distribution as a limited partner.
D.a unanimous vote of the limited partners and consent of any general partner who
owns a majority of the rights to receive a distribution as a general partner.
In In re Richie, Richie had an income of $22,000. She lived in Wisconsin where the
median income is over $37,000. Right before filing for bankruptcy she received a
master’s in “outdoor therapeutic recreation administration.” Jobs in that field typically
had salaries above the median income. Richie was looking for jobs in that field but
there were few opportunities in her geographic area. She was also qualified to work
many other jobs that would have brought her above the median income but she only
wanted to work in that field. When she filed for Chapter 7 bankruptcy the court held
that:
A.she was eligible because she met the means test.
B.she was eligible because she was unable to find a job in her field of education.
C.she was not eligible because she was manipulating the means test by looking for a job
in a small field in a small area.
D.she was not eligible because she was too financially well off to obtain immediate
discharge without an attempt to repay her creditors.
The Resource Conservation and Recovery Act (RCRA) regulates:
A.the environmental impact of coal mining and logging.
B.active and future facilities that produce solid waste and hazardous materials.
C.community recycling programs across the country.
D.none of the above.
Faber College, founded in 1904 is an integral part of its surrounding community. Which
of the following is a primary stakeholder in Faber College?
A.the students
B.the authors of the text books sold to the bookstore for student purchase
C.the local bar that student frequent when they are not studying
D.the community newspaper that runs a weekly column discussing the events at Faber
Clyde contracts with Seaside Resorts to rent an oceanfront room for a romantic
weekend with his girlfriend Anne. In fact, Clyde intends to propose to Anne on the
beach under the full moon during their stay. He made this decision after booking the
room. The contract with Seaside Resorts requires a $250 deposit with the remaining
$250 due upon check-in. The deposit is nonrefundable unless the reservation is
cancelled at least 48 hours prior to check in. The day before they are to leave for the
resort Clyde and Anne have a huge fight and break up. Clyde calls Seaside and cancels
the reservation and demands a refund of his deposit.
A.Clyde will get the refund because of impossibility; he can’t propose if they are no
longer speaking.
B.Clyde will get the refund because of impracticability; he can’t stay at a romantic
seaside room if he has no one to share it with.
C.Clyde will get the refund because of frustration of purpose; his intention was to
propose and it is no longer possible.
D.Seaside is not required to provide a refund.
With regard to the 2008 discovery of Bernard Madoff’s Ponzi scheme, which of the
following is not true?
A.he preserved an element of secrecy by claiming his investment strategy to be a trade
secret
B.the scheme lasted over twenty years and cost his clients billions of dollars
C.obtaining investment funds from charities and nonprofits was an essential part of his
strategy
D.to keep multiple authorities and governments from examining his operation, the
scheme was restricted to U.S. investors and U.S. business entities only
An easement by prescription:
A.creates ownership of the land in question.
B.creates a right of use in the land in question.
C.occurs when landlocked property is purchased.
D.creates a leasehold estate.
A trademark can be any of the following except a:
A.word.
B.symbol.
C.formula.
D.phrase.
The Superfund law addresses hazardous substance cleanup through which of these
ways?
A.removal and remedial actions
B.removal, remedial and prevention actions
C.removal actions
D.remedial actions
Under the Health Care and Education Reconciliation Act, employers offering high end
health care policies in 2018 will be required to pay additional taxes to help fund the
Act’s plan. A high end health care policy is defined as costing more than:
A.$12,500 per year.
B.$18,500 per year.
C.$23,500 per year.
D.$27,500 per year.
The nickname for the Comprehensive Environmental Response Compensation and
Liability Act (CERCLA) is _____.
Which of the following is not a role of the bankruptcy trustee?
A.void certain transfers
B.turn the assets into cash
C.provide debt counseling
D.collect the debtor’s assets
What is the main difference between Chapters 7 and 11?
A.the order for relief
B.the automatic stay
C.the continued operation of a business
D.the manner in which the bankruptcy petition is filed
Under TARP provisions:
A.shareholder’s approval on compensation packages recommended by the company’s
compensation committee is binding.
B.if the board disregards the shareholders vote on a recommended compensation
package the board is automatically in breach of their fiduciary duties to the company
and its owner.
C.the shareholders have no right to vote on compensation so their approval or
disapproval of the compensations committee’s recommendation is not considered.
D.shareholder’s approval on compensation packages recommended by the company’s
compensation committee is merely advisory and the board of directors has final say on
compensation matters.
In the absence of a specific contract provision regarding the details of payment the
UCC provides that:
A.payment be made in full at the time and place that delivery occurs.
B.payment be made in full within 10 days of the time and place that delivery occurs.
C.payment be made in full within 20 days of the time and place that delivery occurs.
D.payment be made in full within 30 days of the time and place that delivery occurs.
This amendment requires that an arrest warrant may not be issued without probable
cause:
A.Fourth Amendment
B.Fifth Amendment
C.Sixth Amendment
D.Eighth Amendment
In law suits that involve both goods and services, how is the proper source of law to
enforce and govern the agreement established?
A state family court that only hears divorce and child related matters would be said to
have ________ jurisdiction.
In the event that a landlord breaches a duty owed to a tenant, what are the possible
remedies that may be available to the tenant?
________ is a body of law that defines, regulates, and limits the exercise of authority by
federal regulatory agencies.
Congress has provided the state of Ohio $50M for highway construction and
renovation. As a condition, Ohio must award 30% of the contracts to firms that are
owned by women or minorities. Ohio sues claiming that such a condition is an intrusion
on Ohio’s right to seek competitive bids and make the best use of the money. Ohio also
asserts that this will make it difficult to seek the best quality companies and that how
they allocate the money is purely a state function as long as they use the money for the
purposes intended. How will the court likely decide this dispute?
The discussions by the jury in a closed room while they attempt to reach a verdict is
called _______.
A plea by a defendant where they do not admit guilt but agree to penalties imposed as if
guilty is called a plea of no contest or _____.
COBRA requires that employers provide health care coverage, at the former employee’s
cost, for up to ________ after the employee leaves the company.
Describe the state of administrative law at the state level. What are some examples of
parallel agencies?
The idea that nations defer to and give effect to laws and court decisions is referred to
as ______.
Charlie and Mia have started selling t-shirts with iron on decals and lettering. They
have no formal written agreement and simply decided to split all profits equally. Each
has contributed $1,000 to the enterprise and since Mia will be doing all of the work,
Charlie agrees that he will be responsible for 75% of any losses. Charlie does call in to
make day to day decisions but Mia purchases the shirts, decals and lettering, operates
the press and mans the store. Charlie stays home and smokes cigars and drinks scotch.
Alan purchases one of their shirts and after wearing it all day discovers that the dye has
run and his upper body is now blue. After bathing numerous times he finds that the blue
dye will not wash out. Alan sues and is awarded $100,000 in damages. Charlie claims
that there was no real business entity formed and that he should not be liable. How
should the court decide?
Discuss the ways the three major international arbitration organizations choose
arbitrators.
________ international law addresses relations between individual countries and
international organizations.
What were the reasons offered to defend the fact that AIG had paid $165 million in
bonuses to certain employees?
Name and discuss the functions of each of the two important environmental water acts.
What is meant by the term “capital call”? Under what circumstances might it occur and
how does it affect partners?
“Snapple” is an example of a/an ________ trademark.
A “Doing Business As” certificate is also known as a ________ certificate.
A leasehold estate that runs for fixed periods of time and automatically renews unless
terminated by the tenant or landlord is called a ______.