Many states permit withdrawal by an attorney when the highest authority of the
corporation insists on a criminal action that will substantially injure the corporation.
This is called _____.
A.reporting up
B.external reporting
C.reporting out
D.proxy solicitation
Which of the following federal agencies is charged with enforcing Title VII?
A.Equal Employment Opportunity Commission
B.Wage & Hour Division
C.National Labor Relations Board
D.Federal Trade Commission
What is an injunction?
A.A counterclaim against the plaintiff.
B.A court order to do or stop doing a particular thing.
C.The time frame allowed for filing a law suit.
D.An affirmative defense filed by the defendant.
Which of the following theories of jurisprudence is based on the premise that society’s
ideas change over time and law should reflect a compromise between the changing,
often conflicting, interests of society?
A.Legal positivism
B.Natural law
C.Sociological theory
D.Legal realism
The _____ is the official daily publication for rules, proposed rules, and notices of
Federal agencies and organizations, as well as executive orders and other presidential
documents.
A.Congressional Directory
B.Code of Special transactions
C.Federal Register
D.Uniform Commercial Code
Which of the following documents states that even if all the allegations made by the
plaintiff are true, there is a defense to the allegation, and the plaintiff should lose?
A.Motion
B.Counterclaim
C.Cross-claim
D.Affirmative defense
Failure to comply with the antitrust laws and regulations can result in:
A.improved product quality.
B.increased competition for consumers.
C.liability for the businesses.
D.lower prices.
If the ownership is of a nonflowing body of water, such as a lake, the doctrine of _____
gives the ownership of underwater property generally to anyone who owns land
adjacent to such nonflowing water body.
A.prior appropriation
B.public trust
C.riparian rights
D.littoral rights
Under U.S. common law, anyone who owns land adjacent to navigable water also owns
property under the water. This is the doctrine of:
A.public trust.
B.riparian rights.
C.littoral rights.
D.prior appropriation.
Which of the following is true regarding the practice of ocean dumping and the Marine
Protection, Research, and Sanctuaries Act?
A.Ocean dumping refers to ocean incineration and disposal into the seabed and
sub-seabed.
B.It deals with transportation of material exclusively from the U.S. for the purpose of
ocean dumping.
C.The provisions of this Act are administered by the Environmental Protection Agency.
D.This Act was enacted in 1978 and is also known as the Ocean Dumping Act.
The end product of the negotiations between management and labor will be a(an):
A.arbitration agreement.
B.card check agreement.
C.collective bargaining agreement.
D.agency shop agreement.
Torts are noncontract violations of _____ law.
A.public
B.substantive
C.civil
D.procedural
A(n) _____ is a statement required of a U.S. corporation when soliciting shareholders’
votes.
A.proxy statement
B.article of incorporation
C.red herring prospectus
D.registration statement
Which of the following statements is true regarding grey market goods?
A.Grey market goods are manufactured in the United States.
B.Grey market goods are the same as the counterfeit goods.
C.Grey market goods are imported into the U.S without consent of the American
trademark holder.
D.Grey market goods bear a valid U.S. trademark.
With reference to mutual assent, which of the following concepts applies when both
parties are aware that they do not know all they need to know before contracting, and
they contract anyway?
A.Fraud in the execution
B.Undue influence
C.Duress
D.Mutual ignorance
Intentional infliction of emotional distress is also known as _____.
A.outrageous conduct
B.assault
C.battery
D.defamation
Which of the following statements best describes the mailbox rule?
A.Unless otherwise agreed, an acceptance is effective when it is sent if it is sent
correctly.
B.If no time is specified in the offer, then the law will impose a reasonable time based
on the circumstances.
C.A change in the offer by offeree will only be considered a counteroffer if the offeree
intends it to be so.
D.If an offer is made but before it can be accepted the subject matter of the offer
becomes illegal, the offer is terminated.
A unilateral contract is a contract in which:
A.the terms of a contract have been fully performed.
B.one of the parties to the contract does not have the capacity to contract.
C.one party promises to do an act if the other party does something.
D.all the requirements of a valid contract have been fulfilled.
People who get the benefits of the union’s work without having to be a part of the union
or pay the equivalent of union dues are called:
A.free riders.
B.open riders.
C.union riders.
D.agency riders.
A _____ is any word, name, symbol, or device, or any combination thereof used by a
person to identify and distinguish his or her goods from those manufactured or sold by
others.
A.license
B.trademark
C.patent
D.copyright
In the case of an agency relationship, the one for whom the work is performed is known
as the ___.
A.principal
B.fiduciary
C.independent contractor
D.dealer
Which of the following types of law addresses federal and state government agencies
and their role in carrying out their delegated authority?
A.Corporate law
B.Administrative law
C.Criminal law
D.Consumer rights
The _____ amendment to the Clean Air Act set technology-based standards for major
sources and area sources.
A.1977
B.1980
C.1990
D.1997
The _____ is the federal agency that is responsible for protecting the natural
environment. It headed by an administrator who is appointed by the President of the
United States.
A.Army Corps of Engineers
B.Coalition for Environmentally Responsible Economies
C.Environmental Protection Agency
D.Clean Air Agency
Power of a buyer to dominate the market is called _____.
A.oligopsony
B.monopsony
C.monopoly
D.oligopoly
Samantha bought a refrigerator for personal use. If the store where she purchased the
refrigerator loaned her the money to make the purchase then:
A.the store’s security interest attaches but it is not automatically perfected.
B.the store’s security interest does not attach unless Samantha signs a security
agreement for the refrigerator.
C.the store cannot accept the same refrigerator as collateral.
D.the store’s security interest attaches and is automatically perfected.
Which of the following statements is true for per se violations?
A.All vertical anticompetitive efforts are per se violations.
B.Such violations are not always regarded illegal.
C.An attempt to monopolize is not a type of per se violation.
D.They are held by courts to be inherently unreasonable.
Identify the behavior which is both a horizontal and vertical per se violation.
A.Cartels
B.Price fixing
C.Exclusive dealing contracts
D.Exclusive selling agreements
Which of the following is a type of tort included under intrusion of privacy?
A.Defamation
B.False light
C.Disparagement
D.Assault
In which of the following situations, the case is most likely to be heard in federal court?
A.The amount in controversy is $60,000.
B.The case is related to divorce.
C.The citizen who has filed a case against a corporation belongs to the state in which
the corporation is incorporated.
D.The case involves diversity of citizenship.
Discuss various characteristics of a closely held corporation.
What are the various types of indispensable paper?
What are the Miranda warnings?
Discuss the significance of the annual reports.
Discuss service marks.
Discuss briefly the Digital Millennium Copyright Act.
Discuss regulatory negotiation.
Discuss the various reasons due to which a debtor becomes eligible for involuntary
bankruptcy.
What is dumping?
Explain binding arbitration.
What are the two major parts of a registration statement that a company needs to file
with the SEC at the time of going public?