The __________ control the civil trial practices in all of the U.S. district courts.
a. Federal Rules of Civil Procedure
b. Universal Rules of Civil Procedure
c. National Rules of Civil Court Conduct
d. Common Rules of Civil Procedure
Answer:
The protection of the __________ Amendment against unreasonable searches and
seizures has been largely obliterated by the courts in the area of administrative law.
a. First
b. Fourth
c. Fifth
d. Seventh
Answer:
The principle that each World Trade Organization member must accord to all other
member countries tariff treatment no less favorable than it provides to any other country
is known as the __________ principle.
a. most favored nation
b. preference
c. bound nation protection
d. product enhancement
Answer:
When an idea and its expression are inseparable, the __________ doctrine dictates that
the expression is not copyrightable.
a. merger
b. genericism
c. prior art
d. protected expression
Answer:
In 2013, the Senate curtailed the power of the filibuster to delay votes on executive and
judicial nominees.
a. True
b. False
Answer:
Courts look more favorably on reductions in intrabrand competition when there is
vigorous interbrand competition that can prevent the reduction in intrabrand
competition from harming consumers.
a. True
b. False
Answer:
If a country exerts nationalization over a company’s assets provides compensation,
__________ has occurred.
a. expropriation
b. privatization
c. extraterritoriality
d. confiscation
Answer:
Which of the following was the result in the Quickturn Design Sys., Inc.v. Shapiro case,
which involved a Delaware court’s ruling on the “no-hand pill”?
a. As a matter of law the pill was valid as a response to a takeover bid regardless of
whether independent proof existed that the directors acted reasonably.
b. The pill was valid because the directors established, based upon reliable expert
testimony, that the hostile takeover bid presented a dangerous threat to the continuation
of the company.
c. The pill, which had to be redeemed within one month of a takeover bid or else be
allowed to remain in place, was invalid because it impermissibly circumscribed the
board’s statutory power to manage the business affairs of the company and the directors’
ability to fulfill their fiduciary duties.
d. The pill, which could not be redeemed for six months following a takeover, was
invalid because it impermissibly circumscribed the board’s statutory power to manage
the business affairs of the company and the directors’ ability to fulfill their fiduciary
duties.
Answer:
The __________ Clause of the U.S. Constitution states that the Constitution, laws, and
treaties of the United States take precedence over state laws and that the judges of the
state courts must follow federal law.
a. Supremacy
b. Federalization
c. Legalism
d. Preemption
Answer:
In a(n) __________, the employer guarantees that the participant will receive an annual
benefit for life following retirement, or the actuarial equivalent of such a benefit, based
on a formula in the plan regardless of contributions made or the plan’s investment
performance.
a. defined contribution pension plan
b. 401(k) plan
c. employee stock ownership plan
d. defined benefit pension plan
Answer:
Ann promises to give Carlos $50 if he promises to sell her a business law book. This is
an example of a(n) __________ contract.
a. unilateral
b. bilateral
c. void
d. conditional
Answer:
In CASE 24.4Carijano v. Occidental Petroleum Corp. (2011), the Achuar tribe of
PerusuedOccidental Petroleum in a Los Angeles, California state court, alleging
environmental contamination and release of hazardous waste into the rain forests in
Peru where the Achuar people live. Occidental moved to dismiss the claim on the
grounds of:
a. Sovereign Immunity.
b. the Choice of Law.
c. Forum Non Conveniens.
d. the Act-of-State Doctrine.
Answer:
A court has __________ when it has jurisdiction over the location of property at issue
in a lawsuit.
a. True
b. False
Answer:
An objective standard is used in determining whether an offer has been made.
a. True
b. False
Answer:
An unusual use that is reasonably foreseeable may be considered a normal use of a
product.
a. True
b. False
Answer:
The implied warranty of fitness for a particular purpose may apply to merchants and
nonmerchants alike.
a. True
b. False
Answer:
Which of the following is NOT one of the four primary public policy objectives
furthered by laws and regulations applicable to U.S. business?
a. Promoting economic growth
b. Protecting workers
c. Promoting consumer welfare
d. Promoting governmental regulation
Answer:
Which of the following expresses the effect of the D’Oench, Duhme doctrine in relation
to federally insured banks?
a. It makes it harder for federal agencies to bring criminal charges against bank officials
who negligently, but not intentionally, made bad loans.
b. It makes it easier for federal agencies to bring criminal charges against bank officials
who negligently, but not intentionally, made bad loans.
c. It makes it harder for federal agencies to collect on outstanding loans by specifically
providing that an oral loan commitment is enforceable so long as at least two bank
officials confirm the existence of the oral agreement and there is no indication that the
debtor involved acted in an illegal manner.
d. It makes it easier for federal agencies to collect on outstanding loans by barring
enforcement of any agreements unless the agreements are in writing and approved
contemporaneously by the bank’s board or loan committee and recorded in the bank’s
written records.
Answer:
The Department of State administers embargoes imposed on U.S. trade with countries
such as Iraq, Cuba, and North Korea.
a. True
b. False
Answer:
Some courts have recognized a form of employee trade secret misappropriate under the
__________ Doctrine, which recognizes that former employees who go to work for a
competitor in a similar capacity will eventually disclose trade secrets gained in their
former employment.
a. Registered Trademark Secret
b. Uniform Trade Secret
c. Inevitable Disclosure
d. Constructive Abandonment
Answer:
According to the UCC, if no amount of time is specifically stated, a firm offer provided
by a merchant must be kept open for a reasonable period of time, up to:
a. one year.
b. six months.
c. three months.
d. sixty days.
Answer:
As opposed to a general partnership, property may not be held in a limited partnership.
a. True
b. False
Answer:
Which of the following is exempt from the Administrative Procedure Act’s requirement
that the public be given notice and an opportunity to comment before a federal agency
can promulgate a rule?
a. Rules of agency procedure
b. General statements of policy
c. Both rules of agency procedure and general statements of policy
d. There are no exemptions from the notice and comment requirements
Answer:
Which of the following is NOT true regarding the Sarbanes-Oxley Act?
a. The Act mandates the composition and authority of audit committees at public
companies.
b. The Act prohibits personal loans to executives.
c. The Act requires corporations to disclose whether they have a code of ethics
applicable to senior financial officers and, if not, to disclose why not.
d. The Act gives the SEC the authority to prohibit unfit persons from serving as officers
or directors of a public company for a period of five years.
Answer:
Most environmental laws are administered by the:
a. Council on Environmental Quality.
b. Environmental Protection Agency.
c. National Environmental Policy Commission.
d. Resource Conservation and Recovery Agency.
Answer:
Which of the following is NOT a prime consideration in determining whether a
fiduciary has taken an opportunity that belongs to a corporation?
a. Whether the opportunity is in the corporation’s line of business.
b. The amount of money the fiduciary stands to make.
c. Whether the fiduciary developed the idea using corporation resources.
d. Whether the involvement by the fiduciary will hinder the corporation’s purposes.
Answer:
Which of the following is true regarding the placement of health claims for foods on
labels?
a. The FDA permits health food claims on labels without FDA approval as a new drug
or the risk of sanctions for issuing a misbranded product, as long as the claim has been
certified by the FDA as being supported by significant scientific agreement.
b. The FDA disallows health food claims on labels unless the food has been approved
by the FDA as a type of new drug for the health concern involved.
c. The FDA allows health food claims on labels so long as the claim has not been
certified by the FDA as false and misleading.
d. The FDA allows health food claims on labels without prior approval of the FDA only
for organically grown foods.
Answer:
Which of the following was the result at the U.S. Supreme Court level in Citizens
United v. Federal Election Commission regarding the constitutionality of the federal
law providing that televised electioneering communications funded by anyone other
than a candidate must include a disclaimer setting forth identifying information as to
sponsorship?
a. That the law was unconstitutional only if a corporate entity, not an individual,
sponsored the communication.
b. That the law was unconstitutional only if an individual, not a corporate entity,
sponsored the communication.
c. That the law was unconstitutional in that it involved small expenditures as well as
larger ones.
d. That the law was constitutional.
Answer:
Traditionally, a transaction benefiting a director’s self interest is __________ unless the
director could show it was fair and reasonable to the corporation.
a. void
b. voidable
c. illegal
d. All of these are correct.
Answer:
An employee may use the Family and Medical Leave Act for:
a. the birth of a child.
b. the care of a parent.
c. a serious personal health condition rendering the employee unable to do his or her job
or the birth of a child.
d. the birth of a child, the care of a parent, a serious personal health condition rendering
the employee unable to do his or her job.
Answer:
An impairment is a disability under the ADA only if it__________ an individual’s
ability to perform __________ as compared with most people in the general population.
a. completely prohibits, a major life activity
b. excludes, a major life activity
c. substantially limits, a major life activity
d. impairs in any way, any life activity
Answer: