The above book contract must be in writing to be valid.
a. True
b. False
Transmission of an NFL game to Canada by satellite is a violation of United States
copyright laws.
a. True
b. False
The EPA provides incentives for both self-reporting and self-audits.
a. True
b. False
Acid rain is:
a. sulfur dioxide pollution from factories.
b. not now regulated by the federal government.
c.not part of EPA enforcement plan.
d.only a problem outside the United States.
Unemployment benefits are paid regardless of whether the employee quit or was fired.
a. True
b. False
Apparent authority ends when an agent quits.
a. True
b. False
Italian manufacturers of leather goods have agreed to charge uniform prices on all sales
in the United States in order to better compete with U.S. manufacturers. Which of the
following statements is true?
a. The agreement is a violation of U.S. antitrust laws, and the Italian manufacturers can
be prosecuted.
b. The manufacturers are protected under the act of state doctrine.
c. The manufacturers enjoy sovereign immunity.
d. The manufacturers are protected under the forum non conveniens doctrine.
In nonattainment areas the EPA:
a. defers to state regulation.
b. can impose construction moratoriums.
c.must honor the SIP.
d.can cut off all forms of federal funding.
Under Sarbanes-Oxley, which of the following would be a conflict of interest for the
outside auditor of a company?
a. Providing management consulting services to the company, too.
b. Providing actuarial service to the company, too.
c.Designing the company’s financial system.
d.all of the above
Litigation for EMFs have come from:
a. land owners.
b. adjoining land owners.
c.the federal government.
d.a. and b.
Enactments of federal administrative agencies are found in:
a. the United States Code.
b. the Code of Federal Regulations.
c.U.S.C.
d.none of the above
Asking that all sources of income be revealed on a credit application is prohibited by
the ECOA.
a. True
b. False
Mortgage lenders are exempt from liability under CERCLA.
a. True
b. False
Under the Pregnancy Discrimination Act, employers are not prohibited from requiring
pregnant employees to stop employment at a certain time during the pregnancy.
a. True
b. False
The 1934 Act proxy regulations apply:
a. only to corporations.
b. only to annual meeting solicitations.
c.to all corporations.
d.none of the above
Which of the following is not part of the amendments to the U.S. Constitution?
a. freedom of speech
b. supremacy clause
c. due process
d. privacy
First Banc loaned money to Best Batteries for the purchase of its factory. First Banc
took a mortgage on the factory and lan
d.Best Batteries, because the price of its lifetime battery was so high, went out of
business within
18 months. Best deeded the title to the factory and land back to First Ban
c.When First Banc sent in a clean-up firm, it discovered that there were old and new
batteries stacked everywhere on the property. First Banc:
a. has no responsibility for cleanup of the batteries.
b. can sell the property and disclaim liability in the purchase contracts and thus pass
along the cleanup to the buyer.
c.enjoys a lender’s exemption from CERCLA liability.
d.none of the above
A company is incorporated in Pennsylvania and has offices in Michigan, Ohio, West
Virginia and Indiana. Which states may tax the business?
a. Pennsylvania only
b. Michigan, Ohio, West Virginia, Indiana
c. only those states in which it has physical contact with the customers
d. only those states which recognize other states’ taxation policy
e. Pennsylvania, Michigan, Ohio, West Virginia and Indiana proportionately
Corporate officers cannot invoke the Fifth Amendment for a corporation.
a. True
b. False
The Clayton Act provides for treble damage recovery for all antitrust violations.
a. True
b. False
The EU has the most extensive and active emissions permit trading market.
a. True
b. False
Section 12 violations would include selling before the effective date.
a. True
b. False
The price for a Super-Heater X50, a residential water heater, is $372.00 at every store in
the greater Atlanta area.
The water heater never goes on sale at any of the stores. Super-Heater sells other
models of water heaters: the X30 for $301.00 and the X60 for $408.00. There is no
store selling the heaters for a different price either. Other companies’ water heaters sell
at the retail levels at prices ranging from $299-$603. During sales, those prices drop. Is
the Super-Heater pricing mechanism a violation of antitrust laws?
MFN stands for most favored nation status under GATT.
a. True.
b. False
A primary offering is an:
a. initial offering of securities.
b. offering by a 1933 or 1934 Act company.
c.offer of treasury shares to original shareholders.
d.none of the above
The social-responsibility school holds that businesses profit by being responsive to
society.
a. True
b. False
The parol evidence rule does not apply in UCC contracts.
a. True
b. False
Which of the following is not part of the Administrative Procedures Act?
a. Freedom of Information Act
b. Privacy Act
c. Government in the Sunshine Act
d. Federal Register Act
A statute that requires only out-of-state milk companies to undergo additional testing
for their products is unconstitutional.
a. True
b. False
A contract for the sale of a car for $700, under the old UCC, must be in writing to be
enforceable.
a. True
b. False
Regional reporters:
a. are for the federal system.
b. include the opinions of state supreme courts.
c.include the opinions of the U.S. Supreme Court.
d.are the same as the federal reporters.
The Administrative Procedures Act includes:
a. the Freedom of Information Act.
b. the Federal Register Act.
c. zero-base budgeting.
d. enabling legislation.
The Federal Trade Commission is responsible for the regulation of deceptive
advertising.
a. True
b. False
The Fifth and Fourteenth Amendments provide procedural due process protections for
corporations and individuals.
a. True
b. False
Ford manufactured its Pinto auto (a subcompact car) from 1968 to 1980. The gas tank
was rigidly mounted and the top of the tank was the floor of the trunk compartment.
There was no shield to prevent the spread of fire into the auto. Fox sustained severe
burns when his Pinto was hit from behind and exploded into flames. Discuss possible
theories of recovery for Fox.
The federal securities laws do not apply to proxy solicitation.
a. True
b. False
FluRight is a flu medicine developed by Medic, Inc.The packaging for FluRight bears
an uncanny resemblance to the number one flu medicine on the market. The bottle is the
same shape and the colors and type on the box are the same. Customers note that they
have to look closely to see which brand they are buying. Describe the rights of the
company that has the number one brand against Medic, Inc.
Rent-a-judge facilities are private operations.
a. True
b. False
Greg Rafft, president of the Tricounty Brokerage Association, addressed the members at
a luncheon meeting. He suggested that the association purchase two of the area’s top
three title insurance firms. Are there any antitrust problems with such an acquisition?
A children’s Halloween make-up kit states that it is “non-toxic.” Several children
developed severe rashes and eye infections following use of the product on Halloween.
Does the manufacturer have any liability?
324 Liquor Corporation is a retail liquor and wine dealer. In New York, the wholesalers
establish the prices for retail sales and the State Liquor Authority enforces those prices.
324 was cited for violations when it sold a State Liquor Authority investigator a bottle
of Chatham Gin for $9.45 (the price was to be $9.65) and a bottle of Smirnoff for
$11.59 (the price was to be $11.89). At the hearing, 324 contends that the statutory
scheme for regulating prices violates the antitrust laws. Is 324 correct?
Discuss the rights of the film companies to collect royalties from the rental of their
films at local video stores.
McGuire was an employee of First National Bank of Grayson (FNBG). FNBG
participated in a Kentucky Housing Corporation (KHC) program in which KHC loaned
money to financial institutions. The institutions would then make low-interest loans to
low-income individuals who qualified for purchase of a home. FNBG received the
funds and produced bogus paperwork for 80 loans but never loaned the money. Instead,
they invested the money at a high
rate of interest. Eventually the money was returned to KHC, but McGuire was charged
with making false records and frau
d.Can McGuire, as an employee, be held liable?
The breakfast cereal aisle of the grocery store is a delightful place with boxes decorated
with Barbie, Ninja Turtles, and Batman. The boxes are filled with toys, special offers,
and plenty of sugar in the cereal. Several parent groups are concerned about the
marketing techniques, the sugar levels, and the diet of American children. One group
proposed regulation on the location of the boxes in the aisles (they should be placed in a
way that eliminates the snazzy boxes from the child’s view). Discuss the ethics of the
cereal manufacturers in their marketing approaches. What action would a firm in the
social responsibility school take?
Describe what an employer should do when faced with a charge of sexual harassment.
Discuss when OSHA will find willful violations.