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A major motion picture distributor offers to provide a television station with three very
popular, desirable films. However, as part of the agreement, the distributor requires that
the television station also purchase four films that are not very desirable. This type of
arrangement is called a:
a. reciprocal dealing agreement.
b. reverter arrangement.
c. joint custody arrangement.
d. tying arrangement.
The Uniform Anatomical Gift Act (UAGA) allows an individual to indicate her desire
to be a donor:
a. by signing an organ donor card in the presence of two witnesses
b. by including this wish in a will
c. by using an iPhone app called "DonateLives.
d. all of the above are ways to indicate a desire to be an organ donor.
In Lapin v. Seinfeld the issue was whether:
a. a vaguely similar approach could be used as copyright infringement.
b. the use of macaroni and cheese was a copyright infringement
c. The name of two books had to be substantially
d. whether a paperback and a hardcover were the same category in copyright law
Orson was fired from his job behind the ticket counter at the airport. He was loudly told
to put his personal belongings into a plastic bag and was led out by security guards in
front of his co-workers and customers. His supervisor told him not to return. Orsons
employer faces potential liability for:
a. intentional infliction of emotional distress.
b. whistleblowing.
c. defamation.
d. violation of the FLSA.
HBR Accounting hired Denise, to negotiate a real estate deal but wants to keep their
name out of the deal until after the closing. Which statement is correct?
a. Denise is an agent and has no liability on the deal.
b. Denise is an agent but has a duty to disclose her principal if asked.
c. Only Denise is liable on the deal
d. Denise shares liability on the deal because HBR is an undisclosed principal
Which of the following represents a unilateral offer?
a. "I will pay you $50 if you mow my lawn."
b. "I will pay you $50 if you promise to trim that tree."
c. "I will pay you $50 for your CD player."
d. "I will pay you $50 for your backpack."
Deontological ethics bases it value of what when evaluating the right decision
a. Results of doing something
b. Hapiness in doing something
c. Reason for doing something
d. The rules
The Theft of Honest Services statute:
a. is violated if an employee draws sick leave pay on a day when she is not sick.
b. applies only to government officials.
c. prohibits both public and private employees from taking bribes or kickbacks.
d. was not passed into law due to a presidential veto.
Ernest invents a novel, useful, nonobvious product. He:
a. must apply for a patent within one year of selling the product commercially.
b. is entitled to a patent over someone else who invents the same product if he is the
first to file an application.
c. may receive patent protection for two years by filing a simpler, shorter, cheaper
provisional patent application while he is working on his complex, regular patent
application.
d. may sell his product for up to five years to see how well it sells before going through
the complex process of filing a patent application with the PTO Office.
GBH, an accounting firm, was hired to prepare financial statements for E-treme. GBH:
a. cannot show the working papers to E-treme unless there is a valid court order.
b. cannot show the working papers to E-treme unless it obtains permission from the
AICPA.
c. can show the working papers to anyone that asks, since the accountant owns them.
d. must allow E-treme access to the working papers.
When the Food and Drug Administration prohibits a certain drug from being marketed
in the United States, this is:
a. private law.
b. an administrative regulation.
c. legal negativism.
d. an executive order.
Which of the following is NOT an available remedy for infractions of Title VII?
a. job reinstatement
b. reasonable attorney fees
c. punitive damages up to $1 million
d. retroactive seniority
To perfect a security interest in a negotiable instrument, Second State Savings and Loan
should:
a. file a financing statement.
b. take possession of the instrument.
c. do nothing. Perfection is automatic.
d. secure a court order.
Which of the following is a requirement for an involuntary Chapter 7 bankruptcy
petition?
a. The debtor must owe at least $150,000 in unsecured claims to the creditors who file.
b. The debtor must have at least three creditors join in the petition if the debtor has 12
or more creditors. If the debtor has fewer than 12 creditors, any single creditor or group
can file a petition.
c. The creditors must have tried to help the debtor overcome the financial difficulties.
d. The debtor must have a majority of the creditors file the petition.
The definition of a major life activity (used in determining if a person is disabled)
includes:
a. walking
b. drug use
c. compulsive gambling
d. sexual disorders
Cheryl enters into a contract with Gabe. In this contract, Cheryl asks Gabe to pay the
money he owes her from the contract to her friend Leah because Leah is having
financial troubles. Leah is:
a. a third party creditor beneficiary.
b. a third party donee beneficiary.
c. a third party incidental beneficiary.
d. the promisee in the contract.
Mark was refused employment at a Christian Bookstore because he was not a
"born-again Christian." If Mark brings a Title VII action against the bookstore, its best
defense would be:
a. they did not discriminate against a protected category
b. Title VII doesn't apply to private businesses
c. being a "born-again Christian" is a bona fide occupational requirement
d. they could not reasonably accommodate Mark.
Kabrina purchased some land Lake Winisakand to build a marina. After purchase the
county passed a law restricting the building of any structures on the shoreline of the
Lake. She would be allowed to build a small shop or restaurant on her land. Her land is
not worth as much. What are her remedies?
a. She is entitled to money damages for the entire value of her land
b. She has none. Since she still can use the land to build something she is not entitled to
any compensation.
c. She can build the marina anyway because the law changed after she purchased the
land.
d. She can file a complaint and determine just how much her damages are and collect
them from the county.
When a party to a contract intentionally makes the terms of a contract unclear, it is
called:
a. vagueness.
b. duress.
c. ambiguity.
d. mistake.
Agnes plans to file for bankruptcy under Chapter 7. One month prior to filing, Agnes
gives Joe's Filling Station $700 to apply to her gas bill. Joe has been so kind to let her
charge the gas she needed for her car over the past year. The bankruptcy trustee
appointed to the case:
a. can cancel the payment to Joe as a fraudulent transfer.
b. cannot cancel the payment to Joe because it is payment for an existing debt.
c. cannot cancel the payment to Joe because he is not an insider.
d. can cancel the payment to Joe as a voidable preference.
In which of the following situations is the seller a merchant under Article 2 of the
UCC?
a. Paul, a full-time college student, sold his textbooks to State Bookstore.
b. Randall, a part-time college student and full-time father, sold his textbooks to a
friend.
c. Zompa Inc., a toy manufacturer, contracted to sell dolls to TonTon Department Store.
d. In all of the above situations the seller is a merchant.
The management and union representatives of Prime Manufacturing are bargaining a
new CBA. Management:
a. may use a lockout at any time to pressure the union into compromise.
b. may never use a lockout as a tactic to pressure the union.
c. may use a lockout if the parties have reached an impasse in their bargaining and
management notifies the union before locking the employees out.
d. may use a lockout only as a retaliatory measure if and when the union has threatened
a strike.
If the agent is disloyal to the principal:
a. the agency agreement automatically terminates and the principal may rescind the
transaction.
b. the principal has the right to collect any actual damages sustained as a result of the
agent's disloyalty.
c. the principal has a right to recover any profits earned as a result of his agent's disloyal
conduct.
d. All the above are correct.
Annette drove through an intersection without looking and hit Vincent's car that he had
driven into the intersection without obeying a stop sign. Annette sued Vincent. The jury
found that Annettes fault contributed 20 percent to the collision and determined that her
total loss was $100,000. Under comparative negligence, the jury should award Annette:
a. $20,000.
b. $80,000.
c. $100,000.
d. nothing.
The Chief Executive Officer of Ticor, Inc. must decide about the disposal of toxic waste
materials. Which of the following considerations should help the CEO reach an ethical
business decision?
a. Toxic waste disposal law.
b. The harm the disposal could cause to the environment.
c. The impact on the business if the decision is publicly disclosed through the news
media.
d. All of the above.
A corporate charter is filed with:
a. a state's Secretary of State office.
b. a state's Treasury and/or Revenue Division.
c. the United States Department of Commerce.
d. All the above.
Micah signed a check in the lower right-hand corner and Andrew signed on the back.
The presumption is that:
a. Micah is the issuer.
b. Micah is the acceptor.
c. Andrew is the drawer.
d. Andrew is the maker and Micah is an indorsor.
Which of the following is not an element of a tying agreement under the Clayton Act?
a. The seller requires the buyer to purchase the two products together,
b. The seller is shutting out a significant part of the market for the tied product.
c. The seller has no significant power in the market place.
d. All the above.
Congress established a trust fund for the EPA to use in Superfund cleanup. This trust
fund was initially financed by a tax on what?
a. The general public through federal income taxes.
b. Waste management and landfill operators.
c. The construction industry.
d. The oil and chemical industries.
Robert, a minor, buys a stereo from Jane for $200. State law allows a minor to disaffirm
contracts within a reasonable time after turning 18. Robert disaffirms the contract the
day after turning 18 and returns the stereo.
a. This contract was a valid contract, Robert cannot disaffirm.
b. This contract was a voidable contract, Robert can disaffirm.
c. This contract was a void contract.
d. This contract was unenforceable because it needed to be in writing to be enforceable.
Under the Endangered Species Act:
a. as long as an endangered species is not taken its habitat may be altered
b. allows the sale of endangered species that are already in captivity
c. both of these answers are correct
d. none of these answers are correct
The disposal of nonhazardous solid waste is:
a. generally regulated by state law, but the federal government sets guidelines that must
be followed.
b. the only area of environmental concern that has yet to be regulated by federal action.
c. completely governed by federal administrative law.
d. currently the subject of great debate since the federal government has declared such
activity falls under the Endangered Species Act and, therefore, a small annoying fly
known to frequent landfills must be protected.
Fashions, Inc. has 12 shareholders. There is no shareholder agreement concerning the
board of directors. The company is subject to the Model Act. How many directors is
Fashions, Inc. required to have?
a. None.
b. One.
c. Two.
d. Five.
Hayden owes Luther $5000. Hayden will only be able to pay this debt if he is able to
sell his one-year-old Harley motorcycle, valued at $20,000. Hayden writes a check to
Luther that reads, "Payable to the order of Luther the sum of $5000 as soon as my
Harley motorcycle sells for a reasonable amount." This check is:
a. negotiable, assuming Luther accepts delivery of the check.
b. negotiable if Hayden also includes a date that he expects the motorcycle to sell.
c. non-negotiable because it does not state a definite amount of money.
d. non-negotiable because the check is conditional.
As a general rule, an agent is liable on contracts entered into on behalf of a fully
disclosed principal.
Rachel works for the Internal Revenue Service, but keeps some personal information on
her computer at work. The Fourth Amendment to the Constitution, prohibiting
unreasonable searches and seizures, does not apply to the government's right to obtain
personal information on her computer.
If apparent authority is present, the principal is liable for even the unauthorized acts of
the agent.
Alex promises to pay $100 to anyone who finds his lost watch. Kate finds and returns
the watch to Alex after hearing of the reward money. Alex and Kate have an enforceable
unilateral contract.
Administrative agencies exist at the federal, state, and local levels.
The Uniform Probate Code has been adopted in all states.
Reva prepares and signs a document that she intends to be her will. If she has not
followed the legal technicalities of her state regarding executing a will, the court may
not enforce the will.
A patent must be novel, nonobvious and useful..
Mega Corp has decided to subcontract about 30 percent of its production work to a
company located in Thailand. The subcontracting is designed to replace union workers
with cheaper labor. The work that will be contracted away had previously been done in
the company's main plant in New Jersey. The union representing the Mega Corp
workers claims this is an issue subject to mandatory bargaining. Management claims it
is a corporate organization decision and, thus, not subject to bargaining. Who is right?
A statute of limitations begins to run at the time of injury and will limit the time within
which the injured party may file suit.
To defame Mayor Parker you would have to have actual malice.
"Scriveners error is another (fancier) name for a typo.
Dewayne sold a space heater to Vivian, telling her it would heat a 200-square-foot area,
even though he knew it would effectively heat only about one third of that space.
Dewayne is liable for the intentional tort of fraud.
The FTC may consider an act unfair if it simply violates public policy.
In negligence cases the courts often refer to the term "reasonable person." What is
meant by this term?
Trademark owner and Famous people have the right to sue to get a their name which
has been registered as a domain name which was registered in bad faith.
