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The damages of a defrauded purchaser of securities:
A. are measured at the time of purchase.
B. include a punitive amount to discourage further fraud.
C. are measured at the time the fraud is discovered.
D. are considered a 'sunk cost" and are not recoverable.
E. include speculative damages.
A(n) _____ has significant impact on policy and is often as powerful as a commissioner
or board member.
A. secretary
B. advisory council
C. general counsel
D. chairperson
E. executive director
The Clean Water Act applies to:
A. navigable intrastate waterways.
B. navigable interstate waterways.
C. navigable interstate and intrastate waterways.
D. navigable and nonnavigable interstate and intrastate waterways.
E. navigable and nonnavigable international waterways.
Which of the following is an example of a tortious act in the scope of employment?
A. At a law firm, a lawyer and his client get into a heated argument over the passing of
a women's bill.
B. A professor hits a student each time the student fails to finish his schoolwork.
C. A store manager and a customer have a fist fight over which football team will win
the World Cup.
D. An executive gets involved in an argument with another business associate over
vegetarianism.
E. A seller and a buyer argue over the price of a washing machine, trying to arrive at a
discounted amount.
_____ is the unlawful taking of personal property with the intent to deprive the rightful
owner of it permanently.
A. Burglary
B. Robbery
C. Larceny
D. Conspiracy
E. Embezzlement
The Protestant ethic is rooted in:
A. utilitarianism.
B. consequentialism.
C. relativism.
D. formalism.
E. epistemology.
Which of the following oral contracts can be enforceable in court?
A. Contracts involving goods worth $500, or more
B. Contracts involving the sale of land
C. A contract for goods for which payment has been made
D. A contract for a service that lasts for 5 years
E. A collateral promise to pay another's debt
Great year Tires orders 50 tons of rubber from a Bill, a rubber broker. The broker has a
number of rubber plantations that it can deal with but does almost all of its business
with Ritchie's Rubber Farm. The delivery of the rubber is due on September 1st. On
August 1st, a fire destroys Ritchie's Rubber Farm.
A. Bill's performance is excused due to impossibility of performance.
B. Bill's performance is excused due to commercial impracticality.
C. Bill's performance will not be excused if obtaining rubber from another plantation is
reasonable and possible.
D. Bill's performance will not be excused if he can get the rubber from another source
even if a higher cost cuts his profit margin.
E. Bill's performance will be excused even if Great year proves that rubber from other
plantations is reasonably available.
The registration statement to be filed with the SEC includes:
A. statements which gives the holder the right to purchase securities at a stipulated price
within a specified time limit.
B. a written promise to repay a specified sum of money plus interest at a specified rate
and length of time to fulfill the promise.
C. statements that show ownership of a bond, stock or other security.
D. financial statements and a report on operations, issued by a company to its
shareholders at the company's fiscal year-end.
E. a detailed disclosure of financial information about the issuer and the controlling
individuals involved in the offering of securities for sale to the public.
Lois has applied for a job at Nadia Markets, a grocery store chain. She is told that after
thirty days she is required to join the union representing the Nadia employees. Nadia is:
A. an agency shop.
B. a union shop.
C. a right to work shop.
D. committing an unfair labor practice and violating the law.
E. an open shop.
Game designers Troy and Jeff design a new computer game system, and it is
manufactured and sold by their company, GameTech. The game system they devise
uses new technology that they have created and far exceeds the capabilities of any
current gaming systems. It is also so simple to manufacture that they can do so at a very
minimal cost. When it hits the market it is so much better and cheaper than the
"competition" that they all end up either in bankruptcy or simply withdrawing their
products from the market. GameTech's system is now the only gaming system on the
market.
A. GameTech is guilty of engaging in predatory conduct.
B. GameTech has a monopoly which violates the Sherman Act.
C. GameTech has a monopoly which does not violate the Sherman Act but violates the
Clayton Act.
D. GameTech has a monopoly which does not violate either the Sherman or Clayton
Act
E. GameTech is guilty of variable pricing.
The final step of a successful mediation is:
A. submitting any conclusions to a judge for judicial approval prior to implementation.
B. writing down the basic agreement reached and having it signed by all the parties.
C. providing all evidence given during the mediation to the parties' attorneys for use in
the next phase of litigation.
D. agreeing that all future disputes be resolved in the same manner.
E. turning the results over to the arbitrator as the submission for arbitration.
Which of the following doctrines exempts certain lobbying activities from the Sherman
Act?
A. Noerr-Pennington doctrine
B. Quick look doctrine
C. State action doctrine
D. Per se illegality doctrine
E. Doctrine of inherency
Tony's Carpets wants to charge $9.80 a yard for installing a carpet for Serenity
Bookstore, but accidentally states $8.90 a yard in the bid. Serenity Bookstore accepts
Tony's bid. Tony's Carpets made a _______ mistake.
A. bilateral
B. unilateral
C. mutual
D. rescission
E. contractual
Which of the following is true about the strict scrutiny approach?
A. It is used if the classification is partially suspect.
B. It falls between the minimum and quasi-strict scrutiny approaches.
C. It is used when the rights involved are not quite fundamental.
D. Classifications that are subject to this approach are presumed to be constitutional.
E. It is applied to cases involving classifications directed at fundamental rights.
A school's seal and logo are examples of what type of intellectual property?
A. Service marks
B. Certification marks
C. Collective marks
D. Patents
E. Brand marks
The basis for the _____ tort lies in the defendant's breach of his/her duty to use ordinary
and reasonable care toward the plaintiff, which proximately (foreseeably) causes the
plaintiff injury.
A. strict liability
B. negligence
C. trespass
D. private nuisance
E. public nuisance
_____ refers to the intent of a defendant-seller to deceive or mislead.
A. Handhabend
B. Double jeopardy
C. Per minas
D. Mens rea
E. Scienter
Which of the following best sums up the sequence of events in a jury trial?
A. Opening statements; voir dire; judgment; verdict
B. Pleadings; voir dire; discovery; judgment
C. Voir dire; discovery; closing arguments; judgment
D. Opening statements, pleadings, judgment, closing argument
E. Discovery; voir dire; verdict; judgment
Which of the following is true to prove the intent to fraud?
A. The defendant must establish beyond a reasonable doubt that he did not have the
intent to defraud.
B. The government has to prove actual reliance on the defendant's misrepresentations.
C. The government has to produce a proof of damages to apply criminal liability for
mail and wire fraud.
D. The government must establish beyond a reasonable doubt that the defendant acted
with a specific intent to defraud.
E. The defendant has to prove that he/she acted in good faith and that his/her actions
caused no damages to the government.
Predatory pricing was declared illegal by the:
A. Robinson-Patman Act.
B. Federal Trade Commission Act.
C. Sherman Act.
D. Wheeler-Lea amendment to the Clayton Act.
E. Gramm-Rudman-Hollings Act.
Which of the following is true of arbitration procedures?
A. Arbitration is a voluntary procedure that cannot be forced on the parties.
B. Judicial review of the arbitrator's award occurs in most cases.
C. The award resulting from the voluntary arbitration procedure is final.
D. If the arbitrator made erroneous rulings during the hearings, the award can be set
aside.
E. The arbitrator's award is binding on the parties only if there was no error of law on
the part of the arbitrator.
The _____ contain a short description of the case; a factual summary; legal points and
authorities; and arguments for reversing or affirming the lower court decision.
A. affidavits
B. interrogaries
C. briefs
D. depositions
E. verdicts
High carbon dioxide levels which lead to warmer global temperatures create the:
A. butterfly effect.
B. greenhouse effect.
C. polar effect.
D. Bohr effect.
E. boomerang effect.
_____ is a court-created rule that limits when courts can review administrative
decisions.
A. The doctrine of estoppel
B. the doctrine of exhaustion of remedies
C. The doctrine of lapse
D. the doctrine of primary jurisdiction
E. The doctrine of precedent
Misappropriation of a trade secret occurs when:
A. a person is able to recreate the same information that the other considers to be a
trade secret.
B. a person recreates a product after looking at it and figuring out how it works or how
it is formulated.
C. a person uses another's trade secret and confidential information with authorization.
D. a person legitimately acquires the trade secret, but discloses information violating
duty of secrecy.
E. a person uses his or her own knowledge and understanding to recreate what is
another's trade secret.
The _____ emphasizes consistency and compels a person to act as he believes everyone
should act.
A. formalist theory
B. deontological imperative
C. categorical imperative
D. contractualist approach
E. relativistic approach
Frequent, abusive, threatening phone calls by creditors are most likely to provide the
basis for a claim of _____.
A. invasion of privacy
B. malicious representation
C. misrepresentation
D. false imprisonment and malicious prosecution
E. intentional infliction of mental distress
A hot cargo contract:
A. refers to picketing by employees and/or a union of a business not directly involved
in a labor dispute for the purposes of bringing pressure to bear on the business of an
employer who is.
B. refers to an union requiring the employer not to force employees to handle materials
going to or coming from an employer designated by the union as "unfair.
C. refers to is an agreement between an employer and an employee in which the
employee agrees, as a condition of employment, not to be a member of a labor union.
D. refers to demanding payment for work no longer performed by workers because of
automation or robotification.
E. refers to a contract given to a worker who refuses to join coworkers in a strike.
The _____ jury is the trial jury that returns a verdict in both criminal and civil cases.
A. grand
B. appellate
C. petit
D. federal
E. hung
