When an employee is being classified as exempt or nonexempt regarding Fair Labor
Standards Act coverage, what factors are evaluated to arrive at a determination?
You are the CEO of a major corporation that is suffering financially in the current
economy. Your board has tasked you with cutting employee-related costs by 5 percent.
Recognizing and referencing the pros and cons of alternative approaches you could take
and the ethical theories that apply, what would you do?
Private equity funding provided by a group of professional investors for use in
developing a business is called _______.
What is meant by the concept that title to personal property and title to real property
provide the owner a bundle of rights?
Describe the state of administrative law at the state level. What are some examples of
parallel agencies?
A contract formed from a party’s actions rather than the party’s words is called a(an)
________ contract.
The CISG provisions do not apply to transactions in which one party is a _______.
What is the primary purpose of the Truth in Lending Act?
Frank is the president and CEO of a publicly held corporation and is quoted in the paper
as saying that the company is solid and has a bright future. He mentions a number of
projects and plans that he anticipates will be successful in both the short term and long
term, thus benefiting the company. Betty Sue reads this article and calls a broker,
directing him to buy shares in Frank’s company. After two years the stock is below the
price she paid for it, and she brings suit, claiming that Frank committed a fraud when he
stated that the company was solid and would be very successful in the future. What
must be proved by each side, and what is the likely outcome of this suit?
“Coppertone” is an example of a ________ trademark.
The implied warranty of merchantability applies to every sale from a _______ to a
buyer.
In some states, a statute of limitations is called a statute of _______.
Discuss the differences between an economic strike and an unfair labor practice strike.
What are the possible implications and consequences for union employees after each?
The state of Colorado has enacted a statute limiting the size of freight trains entering the
state to no more than 80 cars other than the locomotive(s) and the caboose. Assume that
there is no federal law mandating a maximum limit of cars, and further assume that
freight trains frequently consist of over 100 cars. Colorado has justified the law by
saying that shorter trains are safer, but the state’s evidence is not persuasive. Colorado
also claims that very long trains inconvenience drivers and can cause major traffic jams.
Trains longer than 80 cars must stop and reduce their size, employing additional
locomotives to transport the cars through the state to the border, where they may again
recouple and proceed. Discuss the validity or invalidity of this law.
If one party to a contract has reasonable grounds to believe that the other party will not
or cannot perform the contract, that party has the right to demand ________ from the
other party concerning performance.
Some states provide liability shields for LLP partners only when the liability arises from
some __________ by another partner.
Under the concept of ______, nations are exempt from jurisdiction in other nations’
courts.