Which of the following is correct?
a. The merger proposed is a vertical one.
b. The merger proposed is a horizontal one.
c.The merger is simply an asset acquisition.
d.The merger is exempt under the failing company doctrine.
Lowe’s advertised a barbeque grill for $99 in its newspaper ad. When the Smith’s
arrived at Lowe’s to buy the barbecue, a Lowe’s salesman said, “Oh, we don”t have any
in stock. But, what you need is this model for $149.” Lowe’s had no $99 barbecues in
stock, even before the ad was placed.
a. Lowe’s has engaged in bait and switch.
b. Lowe’s has breached an express warranty.
c.Lowe’s has violated the implied warranty of merchantability.
d.none of the above
Toys R Us is an international toy retailer. The Justice Department has just filed a
complaint against the giant retailer alleging that Toys R Us refuses to carry toy lines or
toys if the manufacturers sell their products to discount warehouse stores such as Sam’s
Club or Costco. Toys R Us maintains that when manufacturers sell toys to these
warehouses, they sell only the hot toy items for the Christmas season at large discounts.
Their pricing undercuts Toys R Us and Toys R Us must carry a full line of toys, even
those they do not share the same demand levels. Toys R Us:
a. has not violated any antitrust laws.
b. may have engaged in a refusal to deal.
c.may have engaged in a price-fixing conspiracy.
d.both b and c
Which of the following questions on a credit application violates the ECOA?
a. “List your place of employment.”
b. “Other sources of income – if you wish to have them considered in your credit
evaluation.”
c.”Length of time in current residence.”
d.”Monthly child support income.”
Seniority and merit systems are not subject to Title VII prohibitions.
a. True
b. False
Which of the following contract subject matters would not be covered under the UCC?
a. a contract for the sale of a mobile home from the manufacturer
b. a contract for the sale of a mobile home from a previous owner
c.a contract for the sale of a mobile home plus its lot
d.All of the above are under the UCC.
Legal and equitable remedies:
a. are available in all courts in the United States.
b. are awarded by separate courts of equity and law.
c.are the same remedies.
d.exist only in the United States.
e. none of the above
The purpose of the initial appearance is to:
a. issue an indictment against the defendant.
b. set the terms of release (if any).
c. allow the judge to issue an information.
d.provide the defendant with the opportunity to appear before the grand jury.
The Equal Pay Act is a comparable worth statute.
a. True
b. False
Day 1 – School teacher sends superintendent letter of resignation.
Day 4 – Superintendent mails letter accepting resignation.
Day 5 – School teacher hand delivers letter withdrawing resignation.
Day 6 Teacher receives superintendent’s letter.
a. The above negotiations are governed by the UCC.
b. The resignation was accepted and the withdrawal is too late.
c.both a and b
d.The resignation offer was revoked.
The American Kennel Club (AKC), an independent organization that establishes
standards for breeding and for certification of purebred dogs issued standards for all
purebred dog breeds and recommended standards for Labradors. The result was that an
English strain of Labradors did not meet the minimum height standards that the AKC
recommended, and U.S. breeders of a taller American strain were able to monopolize
the market for championship dogs. Which of the following statements is correct?
a. The AKC has violated the Sherman Act.
b. The AKC, however well intentioned, cannot impose standards on an industry.
c.The AKC has not violated the Sherman Act.
d.The AKC has violated the Sherman Act if U.S. breeders did benefit from the
standards.
Religious discrimination is permitted by churches when they are inter-viewing for a
pastor.
a. True
b. False
Non-public figures need not prove publication in their suits for defamation.
a. True
b. False
H.G. Ilk owned a 1965 Ford Mustang. He had replaced the front seats, the engine and
the transmission. In an accident in which he was rear-ended, the front driver’s seat
collapsed, leaving Ilk with permanent injuries. It was discovered that the seat,
manufactured by the Fisher Company, was defective in that the frame was partially
missing due to a production error. Who is liable for Ilk’s injuries?
a. Ford Motor Company
b. Fisher Company
c.the other driver
d.both a and b
e. both b and c
The American Competiveness in the 21stCentury Act:
a. prohibits U.S. employers from terminating U.S. workers after hiring immigrants as
employers.
b. prohibits U.S. employers from hiring immigrants as employers.
c.allows U.S. employers to terminate U.S. employees and hire immigrant employees if
necessary to remain competitive.
d.none of the above
Covenants not to compete are illegal per se.
a. True
b. False
Which of the following is not required for the intrastate exemption?
a. The investors and issuer must all be residents of the same state.
b. Of the issuer’s income, 100 percent must be earned in its resident state.
c.Of the issuer’s assets, 80 percent must be located in its resident state.
d.Of the proceeds from the sale, 80 percent must be earned on operations in the state. e.
All of the above are requirements.
The interstate commerce jurisdictional standard for the Sherman Act requires proof of
transactions across state lines.
a. True
b. False
A tying arrangement requires the seller to have market power in the tying product.
a. True
b. False
Probable cause is required only for warrantless searches.
a. True
b. False
The Joint Venture Trading Act of 1983:
a. allows Justice Department approval for joint ventures of competitors in the
international markets.
b. prohibits joint ventures among competitors unless in the international market.
c.prohibits joint ventures among competitors.
d.none of the above
The I-9 is the form employers must have for non-citizen employees.
a. True
b. False
Featherbedding is payment for work not actually performed and is an unfair labor
practice.
a. True
b. False
Yanni’s Yachts has created a specially designed awning for its boats. Yanni’s did not
patent the yawning. Dream
Boats purchased one of Yanni’s boats and then copied the yawning from the boat it
purchased from Yanni.
a. Dream Boats has appropriated a trade secret.
b. Dream Boats has appropriated a patent because a patent need not be registered to be
valid.
c.Dream Boats has misappropriated Yanni’s awnings.
d.none of the above
Which of the following is not an express warranty?
a. “fireproof”
b. “waterproof”
c.”puncture-proof”
d.All of the above are express warranties.
Fair trade contracts are:
a. valid.
b. permitted under state laws.
c.an issue related to resale price maintenance.
d.none of the above
The failure to prevent generic use of tradenames and trademarks can result in a loss of
protection.
a. True
b. False
The act of state doctrine precludes outside interference in expropriation.
a. True.
b. False
The Uniform Electronic Transaction Act (UETA):
a. has been adopted in all 50 states.
b. has been declared unconstitutional.
c.is the same as E-sign.
d.none of the above
Which of the following would not be a cite for a U.S. Supreme Court opinion?
a. 411 U.S. 292
b. 93 S. Ct. 1011
c.43 L.Ed 2d 33
d.798 F.2d 1214
Which of the following is not a security for purposes of the 1933 Act?
a. a limited partnership interest
b. a promissory note due in six months
c.a demand note
d.All of the above are securities.
Corporations cannot hold copyrights.
a. True
b. False
The effect of the FCPA has been to decrease U.S. companies’ competitiveness.
a. True.
b. False
The number of appeals to the United States Supreme Court is the same as the number
granted certiorari.
a. True
b. False
If conduct is a criminal violation, it cannot also be a civil violation.
a. True
b. False