In the context of insider trading, those who receive insider information from the issuer
in connection with other duties such as accountants or lawyers are also considered
insiders under Rule 10b-5.
The work-for-hire doctrine states that an employer automatically owns copyright in
employees’ works that are prepared within the scope of employment.
During Congressional oversight hearings, Congress reviews cases related to racial
discrimination.
The administrative agency does not stand alone and has no authority other than that
which Congress delegates to it.
The NLRA applies only to the private sector.
In the case of battery, the touching may be accomplished by something used by the
tortfeasor to accomplish the unpermitted touching.
Like horizontal agreements, the per se rule also applies to vertical agreements which
merely affect prices.
A patent gives the inventor the right to make, use, or sell the invention.
The surety has no right to reimbursement until he actually pays the creditor and then
only to the extent of the payment made.
The lessee does not have title or ownership of the property that he has taken on leave,
but only legal possession.
Price fixing occurs when different purchasers of the same product are charged
differently for an item that costs the same to produce if the purpose is to decrease
competition or create a monopoly.
Personal property is anything other than land.
The Equal Employment Opportunity Commission (EEOC), has instituted mandatory
mediation of all suitable claims filed with the agency.
The executive branch of government has the authority to pass laws to bring the court’s
interpretation of law in line with the views of the legislature.
Making negative statements about an individual’s property, animals or business is not
actionable as defamation.
In the case of disparate impact the employee must show that an employment policy that
is neutral on its face has a harsher impact on a group protected by the law.
A general agent is an agent who is authorized to conduct only a single transaction, or
only a series of transactions not involving continuity of service.
A trade name identifies a product or a service produced rather than the producer.
An agency performing quasi-judicial functions does not constitutionally have the final
say to enforce its order.
The Restatement of Contracts is also known as “common law of contracts.”
In the context of international trade, GATT stands for Geographical Association on
Tariff and Trade.
District attorneys, like other employees, are permitted to strike or to bargain over
wages, hours, and benefits.
The Clean Water Act is implemented and enforced largely by state agencies, the
Environmental Protection Agency, and the U.S. Army Corps of Engineers.
One of the defenses to intentional torts is that the tortfeasor should prove that the victim
gave consent to the activity.
The relationship between a trustee and a beneficiary is an agency relationship.
Once the pleadings are filed, the person who consulted the lawyer and who filed the
initial pleading is called the defendant.
The Wage & Hour division enforces safe workforce laws.
A proxy solicitation is a writing signed by a shareholder of a corporation authorizing a
named person to vote his or her shares of stock at a specified meeting of the
shareholders.
Two telecom companies in the same market are vertical competitors.
Proximate cause is a legal mechanism used to allow legal responsibility only for
consequences of our actions if the consequences were foreseeable.
Job and union security constitute the main issues or clauses for employees in a
collective bargaining agreement.
The alternative dispute resolution method used by administrative agencies wishing to
avoid protracted litigation with interested groups over regulations which the agency
wants to issue is mock trial.
For attachment, the creditor can enforce the security interest against third parties.
If the grantor of land orders that the land will go to a third party (i.e., not the grantor or
grantee/life tenant) after the life estate is over, then the property received by the third
party is known as the _____.
A.adverse possession
B.remainder interest
C.estate for years
D.reversion
Discuss the following statement “Management’s Discussion and Analysis (MD&A) is
often the most important disclosure item in the annual report.”
During a trial, when a plaintiff’s witness is testifying for the plaintiff, the questions and
answers are called _____.
A.closing argument
B.cross-examination
C.opening statement
D.direct examination
A _____ is a statement made by a witness under oath outside of court while being
questioned by both parties to the litigation.
A.counterclaim
B.deposition
C.cross-claim
D.summons
Which of the following statements is true regarding sexual harassment?
A.If the sexual harassment is perpetrated by a co-worker (rather than a supervisory
employee) employers are liable if they knew or should have known of the harassment.
B.The employer cannot be held liable for the supervisory or managerial employees who
sexually harass their subordinates.
C.Employers are not responsible for harassment perpetrated by outsiders who deal with
the company and harass its employees.
D.The employer cannot be held liable for the supervisory or managerial employees who
sexually harass their subordinates if they didn’t know of the harassing activity.
Which of the following types of mechanisms is most likely used by McDonald’s for
operating on international level?
A.Joint venture
B.Franchising
C.Exporting
D.Direct sale
A fraudulent scheme in bankruptcy involves a protracted plan to con a creditor into
thinking it is dealing with an upstanding debtor. The debtor makes payments on time
and lulls the creditor into shipping more and more goods. The debtor then begins
missing payments and tells the creditor it is having cash flow problems. The truth is the
debtor has sold the creditor’s merchandise and made off with the money. This fraudulent
bankruptcy scheme is known as ___.
A.skimming
B.looting
C.bleedout
D.bustout
If the principal has given the agent a document such as the power of attorney and which
the agent has shown to the third party, it is most likely to result in _____ authority.
A.apparent
B.implied
C.express
D.unidentified
Quid pro quo sexual harassment involves:
A.repeated requests for dates or sexual activity.
B.negative or stereotyped gender-based jokes.
C.display of nude or sexually explicit photos in the workplace.
D.declining workplace benefits such as promotion unless the employee engages in
sexual activity with the harasser.
_____ is the study of law, legal systems, and legal philosophy.
A.Conchology
B.Ethology
C.Jurisprudence
D.Emotivism
Which of the following types of laws is most likely to govern matters such as the court
in which a plaintiff should bring the case?
A.Private law
B.Procedural law
C.Substantive
D.Criminal
The _____ Act allows recovery for harm that arises if the goods do not perform as
warranted.
A.Bayh-Dole
B.Stolen Valor
C.Lilly Ledbetter Fair Pay
D.Magnuson-Moss Warranty Act
The _____ is a coalition of investors, environmental groups, and social policy
advocates that was launched in 1997 to promote global guidelines for enterprise-level
sustainability reports.
A.Green Building Council
B.Coalition for Environmentally Responsible Economies
C.Environment Management System
D.Global Reporting Initiative
The _____ is located within the Department of Commerce. It promotes world trade and
strengthens the position of the United States in international trade and investments. It
also assists the International Trade Commission when the latter investigates charges of
unfair trade practices.
A.Agency for International Development
B.Administrative Conference of the United States
C.U.S. Customs and Border Protection
D.International Trade Administration
A(n) _____ interest in real estate is the most rights our law recognizes in property.
A.reversion
B.estate for years
C.fee simple
D.tenant
Which of the following statements is true regarding a board of directors?
A.The directors have fiduciary duties to the corporation.
B.They are the true owners of the corporation.
C.The board is an agent for the shareholders.
D.The board of directors manages the day-to-day operation of the corporation.
The term _____ refers to the total image of a product, including the size, shape, color,
texture, graphics, or particular sales technique employed.
A.trade dress
B.service mark
C.trade name
D.copyright
Individuals must undergo a means test to determine if they qualify for _____
bankruptcy.
A.Chapter 7
B.Chapter 9
C.Chapter 11
D.Chapter 12
_____ is a defense to price discrimination.
A.Noncompetitive defense
B.Practical liability
C.Meeting competition defense
D.Cost verification defense
Title VII of the Civil Rights Act does NOT prohibit discrimination on the basis of:
A.color.
B.national origin.
C.religion.
D.sexual orientation.
An involuntary bankruptcy petition can be filed if:
A.the debtor is transferring unsecured assets to a third party for less than value.
B.creditors have total outstanding debt of at least $5,000.
C.there are more than 12 creditors and two of them are participating in the involuntary
petition.
D.no custodian is appointed to take charge of substantially all of the debtor’s property.
The Environmental Protection Agency:
A.issues executive orders.
B.administers the Endangered Species Act.
C.introduced a concept called designing for the environment.
D.conducts environmental assessment, research, and education.
Jane told Grandma that Grandma was signing a birthday card for her son. In fact, it is
the deed to Grandma’s house. This is an example of:
A.duress.
B.fraud in the inducement.
C.mutual mistake.
D.fraud in the execution.
If, instead, Jan said to Pedro, “I promise to give you $100 if you promise to drive my
car to Malibu from San Francisco.” It is most likely to be an example of a(n) _____
contract.
A.unenforceable
B.unilateral
C.bilateral
D.executed
Which of the following organizations is an intergovernmental organization?
A.Red Cross
B.Physicians for Social Responsibility
C.Rotary International
D.International Monetary Fund
Limited liability companies are governed by a(n) ___. It is a nonpublic internal
document that represents the agreement the owners have as to how they will operate the
LLC and their relationship.
A.certificate of limited liability
B.limited partnership agreement
C.operating agreement
D.deed
Which of the following statements is true regarding limited partners in a limited
partnership?
A.Both the right to manage and the right to bind the limited partnership are reserved to
the limited partners.
B.The limited partners of a limited partnership are personally liable for the partnership’s
debts.
C.The limited partners have the power to bind the partnership.
D.The limited partners do not have any say in the ordinary operations of the
partnership.
In the context of initial public offering, prior to the final prospectus being filed with the
SEC, the company must issue a(n) _____ which is a preliminary prospectus whose
purpose is to give potential investors as much information as possible before the sale is
actually consummated.
A.annual report
B.proxy solicitation
C.article of incorporation
D.red herring prospectus
This mechanism is used by administrative agencies wishing to avoid protracted
litigation with interested groups over regulations which the agency wants to issue.
Identify the dispute resolution method in the discussion.
A.Summary jury trial
B.Minitrials
C.Mock trials
D.Regulatory Negotiation
In “right to work states,”
A.open shops are outlawed.
B.employees have to pay union dues.
C.closed shops are outlawed.
D.states have the right to outlaw union and agency shops.
Which of the following statements is true regarding copyrights?
A.Copyright protects photographers and musical composers among others.
B.A copyright protects an idea itself and not the manifestation of the idea.
C.The constitutional source of Congress’s power in the context of copyright law is the
commerce clause.
D.The basic purpose of copyright law is to protect trade secrets.
Which of the following is true regarding the Toxic Substances Control Act (TSCA)?
A.It was enacted in 1986.
B.It provides the Council on Environmental Quality (CEQ) with authority to require
reporting, record-keeping, testing, and restrictions relating to chemical substances.
C.It requires manufacturers of new chemical substances to notify the CEQ before
manufacturer allows testing of risky chemicals.
D.It addresses the production, importation, use, and disposal of specific chemicals
including polychlorinated biphenyls (PCBs), asbestos, radon, and lead-based paint.
Discuss the life estate interest in property.
Discuss assault.
Discuss minitrials. How is it different from mock trials?
What is misappropriation?
List some of the concepts associated with sustainable business practices?
What is price discrimination?
Describe the provisions of the Robinson-Patman Act.
Discuss summary jury trial.
Discuss the role of the Congress in the context of granting authorities to the
administrative agencies.
Define horizontal and vertical boycott.
Discuss liability arising under Rule 10b-5.
Define administrative law.
What do you understand by “mitigation measures?”
Who are cybersquatters?
Discuss the Sarbanes-Oxley Act.
Explain with an example, mediation.
What is the difference between slander and libel?
Explain battery.
What are the functions of the Clean Water Act?
Discuss limited partnership.