How would the city have discovered the PCE on the property prior to its valuation for
condemnation?
a. Through inspection of the property and the presence of a dry-cleaning establishment.
b. Through land records tracing ownership of the dry-cleaning establishment.
c.Through soil tests.
d.all of the above
The income of the sole proprietor’s business is reported as a separate entity’s income.
a. True
b. False
Apparent authority and agency by estoppel are the same thing.
a. True
b. False
Under the new discovery rules, work product must also be turned over to the other
parties in a case.
a. True
b. False
Spoilation is the destruction of evidence that is needed in a case.
a. True
b. False
City ordinances generally cover the legal aspects of incorporation and securities
registration.
a. True
b. False
The Foreign Corrupt Practices Act is not applicable in NAFTA or GATT contracts.
a. True.
b. False
A code of ethics is an individual firm’s behavior standard for employees.
a. True
b. False
Which of the following accurately describes a summons?
a. initial document filed in a suit
b. served on the defendant
c.need not be served so long as it is filed
d.none of the above
Agents can collect payoffs made during the course of conducting the principal’s
business.
a. True
b. False
An applicant for credit need not disclose spousal support income if he is not relying on
it as an income source.
a. True
b. False
The intentional torts of agents are never the responsibility of the principal.
a. True
b. False
The Celler-Kefauver Act:
a. is an amendment to the Clayton Act.
b. regulates mergers.
c.is the Antitrust Improvements Act.
d.none of the above
The Code of Federal Regulations includes the enactments of federal administrative
agencies.
a. True
b. False
All owners in an LLP have limited liability.
a. True
b. False
Bylaws provide the requirements for meetings and voting.
a. True
b. False
Division of markets is a per se violation.
a. True
b. False
Brownfields:
a. are former Superfund sites that have been cleaned up.
b. are Superfund sites that are lying fallow.
c.cannot be sold or transferred.
d.both b and c
Pacific West Utility has made a takeover offer to the shareholders of San Diego Edison.
The board and management are concerned about the ability of Pacific West to manage
San Diego Edison and have solicited the help of Western Power. Western Power will
make a tender offer to the shareholders of San Diego Edison that is $1.00 more than
Pacific West’s offer. Which of the following statements is true?
a. Pacific West is the target company.
b. Western Power is the target company.
c.Western Power must comply with the Williams Act.
d.Pacific West need not comply with the Williams Act.
Arrion McClellan was using an underarm-aerosol deodorant one morning while
smoking a cigarette. The deodorant had this warning in large letters on the side of the
can: “DO NOT USE AROUND HEAT, FLAME OR WHILE SMOKING.” The
deodorant ignited McClellan’s cigarette in her hand and the flames quickly spread to her
silkrobe. McClellan was severely burned and will have permanent scarring. Who is
liable for her injuries?
a. the deodorant manufacturer
b. the cigarette manufacturer
c.the manufacturer of her silk robe
d.none of the above
Which of the following is not part of the Foreign Corrupt Practices Act?
a. financial statement disclosure requirements
b. requirement of internal monitoring in companies to prevent violations
c. requirement of public disclosure of all bids in foreign countries
d. requirement of monitoring contracts with foreign agents
e. both a and d are not part of the Foreign Corrupt Practices Act
What is the name given to groups who oppose specific placement of land usages using
nuisance theories and local zoning laws?
a. BANANAs
b. NIMBYs
c.NUTs
d.BAMBIs
The U.S. Department of Defense (DOD) is bringing suits against several contractors in
Iraq who are alleged to have paid kickbacks to military personnel in order to win
contracts. The DOD wants portions of the contract prices paid refunded by the
contractors. The DOD suits against the contractors:
a. must be heard in the U.S. Supreme Court.
b. will be heard in the military courts of justice.
c.will be appellate level case trials.
d.will be heard in federal district court or the court of claims.
Sovereign immunity:
a. applies to U.S. businesses here if they are engaged in international transactions.
b. applies to commercial transactions by private foreign firms.
c. does not apply to clear violations of international law by governments engaged in
commercial transactions.
d. means each country is equal in its authority over its own laws and operations.
Which of the following have an absolute privilege against defamation for their speech?
a. a senator while speaking on the floor of the Senate
b. a newspaper
c.neither a nor b
d.both a and b
The Uniform Commercial Code (UCC) has been adopted in all 50 states.
a. True
b. False
Asset acquisitions are not subject to any federal regulation.
a. True
b. False
How many U.S. Courts of Appeal are there?
a. nine
b. at least one for every state
c.thirteen
d.none of the above
A tender offer is another form of business combination.
a. True
b. False
State laws regulating tender offers are:
a. preempted by the Williams Act.
b. unconstitutional under the Commerce Clause.
c.no longer in existence.
d.none of the above
A directed verdict can occur immediately after the pleadings are filed.
a. True
b. False
Which of the following can be done before the registration statement is effective?
a. tombstone ads
b. red herrings
c.offers to sell to accredited investors
d.a and b
e. all of the above