A police officer may not secure drugs that have been abandoned or that are in plain
view if a warrant has not been obtained.
Contracts entered by minors are voidable contracts.
A few firms sharing monopoly power constitute an oligopoly.
A trespass occurs when there is any intentional invasion of an individual’s right to the
exclusive use of his or her own property.
An alternative and arguably more “progressive” approach to stakeholders involves a
collaborative strategy in which stakeholder relationships are regarded as being mutually
defined, cooperative, and reciprocal.
Which of the following statements is true of defined benefit pensions?
A. They are much more common than defined contribution plans.
B. They provide specified monthly payments upon retirement.
C. They are less expensive to manage from the employer’s perspective.
D. They shift the risk from employer to employee.
Which of the following is charged with enforcing the CAN-SPAM Act?
A. The United States Commercial Service
B. The Federal Trade Commission
C. The United States Department of Commerce
D. The U.S. Securities and Exchange Commission
When is a contract unconscionable?
A. When foolishness exists on the part of one of the parties to the contract
B. When one party is spectacularly clever and the other is not
C. When some contracts are so unfair or oppressive as to demand court intervention
D. When a want of knowledge exists on the part of one of the parties to the contract
Which of the following statements is true of libel?
A. Libel, leaving a more permanent stain, generally requires a showing of actual harm.
B. Any dead person can be the victim of defamation.
C. Libel about a company’s products or property often is treated as the tort of injurious
falsehood.
D. Courts do not treat defamatory radio and television statements as forms of libel.
Which of the following laws provides liability protection for prospective purchasers and
contiguous property owners and authorizes increased funding for state and local
programs that assess and clean up industrial sites that are no longer in use?
A. The Small Business Liability Relief and Brownfields Revitalization Act
B. The National Environmental Policy Act
C. The Toxic Substances Control Act
D. CERCLA
Which of the following elements must be proved to judge a situation as fraud?
A. The injured party suffered a loss of at least $25,000.
B. The misrepresentation was unintentional.
C. The injured party ignored the misrepresentation.
D. The misrepresented facts resulted in injury.
Problems of unconscionability often arise in situations in which:
A. a contract to commit a crime or a tort is illegal and unenforceable.
B. the contract, if enforced, would not be in the best interest of the public.
C. the bargaining power of one of the parties is much superior to the other.
D. a party participates in any potentially hazardous activity.
Under the _____, liability for misuse of missing cards is capped at $50 if the consumer
provides notice within two business days after learning of the loss.
A. Fair Debt Collection Practices Act
B. Electronic Fund Transfer Act
C. Fair Credit Billing Act
D. Equal Credit Opportunity Act
Which of the following statements is true about the doctrine of stare decisis?
A. It makes the law unstable and unpredictable.
B. It expects judges to mandatorily follow precedent while making decisions.
C. It offers the wisdom of the past and enhances efficiency.
D. It mandates that every case be resolved as though it were the first of its kind.
Which of the following would most likely be the result of permissive bargaining
between employers and labor representatives?
A. A change from an eight hour, five-day work week to a ten hour, four-day work week
B. An agreement to increase the salary of each employee by $500 per month
C. An alteration in employee termination policy, increasing the notice period by two
months
D. A new agreement between the employees and the management to settle strikes
Which of the following ethical theories takes essentially a free market view of ethics?
A. Moral absolutism
B. Deontology
C. Virtue ethics
D. Libertarianism
The Age Discrimination in Employment Act (ADEA) protects employees who are 40
years and older from employment discrimination based on their age.
The 2013 version of _____ prohibits employers from discriminating on the basis of an
employee’s actual or perceived sexual orientation.
A. the American with Disabilities Act
B. the Genetic Information Nondiscrimination Act
C. the Employment Non-Discrimination Act
D. the Fair Labor Standards Act
Which of the following involves selling substantially identical goods at reasonably
contemporaneous times to different purchasers at different prices, where the effect may
substantially lessen competition or tend to create a monopoly?
A. Price discrimination
B. Predatory pricing
C. Resale price maintenance
D. Conscious parallelism
Under a _____, legitimate business communications, with some exceptions, are
shielded from liability.
A. vicarious liability
B. restrictive covenant
C. qualified privilege
D. tag-along tort
Which of the following statements is true of the Clean Air Act?
A. Air quality standards are set federally, but the states are required to establish
implementation plans to achieve and maintain those standards.
B. Private companies receiving federal contracts, funding, licenses, and the like may be
parties to the completion of an environmental impact statement.
C. Limits are imposed on the amount of pollutants that may lawfully enter the water of
the United States from any “point source.”
D. All pollutant dischargers are required to secure an Environmental Protection Agency
permit before releasing effluents into a navigable stream.
A company that adopts the shareholder approach to business would be most likely to
make _____ its top priority.
A. social responsibility
B. sustainability
C. employee welfare
D. profit