Bellard Co. tells its employees that voting for the union is a mistake. This statement is:
A. protected by the Taft-Hartley Act.
B. prohibited by labor law.
C. only allowed in right-to-work states.
D. protected by the Landrum-Griffin Act.
A knife has a metal handle and the manufacturer has received reports that some
consumers have received electrical shocks when attempting to use the knife as a
screwdriver while installing an electrical outlet. Acina is one such consumer and
decides to sue the manufacturer and the seller. Which of the following is true of this
situation?
A. Acina can sue the manufacturer since there is no specific warning label on the knife.
B. Acina cannot file a suit as a warning label may not reduce the likelihood of an injury
in case of a knife.
C. Acina cannot file a suit against the manufacturer since the danger presented by the
product is obvious.
D. Acina can bring a lawsuit against the manufacturers stating that the warning on the
product was inadequate.
The United States Supreme Court does not have original jurisdiction in which of the
following cases?
A. Cases affecting ambassadors.
B. Cases coming from state supreme courts.
C. Cases where public ministers and consuls are involved.
D. Cases in which a state is a party.
The major provision of this act is that it exempted union activity from the antitrust
laws.
A. Norris-LaGuardia Act
B. Railway Labor Act
C. Clayton Act
D. Wagner Act
According to the E-Sign Act:
A. diverse areas such as database contracts, software licensing agreements, customized
software formulation, and the rights to multimedia commodities are covered.
B. the participants must concur on the use of an electronic medium to create their
contractual relationship.
C. e-contracts that are entered into over the Internet will be valid, provided that the
parties to the e-contract have agreed that electronic signatures will be used.
D. an e-contract, even if it cannot be duplicated and stored, will have the same validity
as a paper contract.
Carl has his lawyer prepare his will. Wanting to make a few minor changes, Carl places
some handwritten words in the margins, initials them, and scratches out words in the
typed text. These changes:
A. create a codicil.
B. create a new will.
C. amend the typed will.
D. are ineffective.
Charlie orally promises Holly that he will marry her. He also states that if they ever get
divorced, then he will transfer one-half of his assets to Holly. They marry and divorce
within a year. Which of the following is true of Charlie’s promise to Holly?
A. The promise qualifies to be an oral contract and is hence legally enforceable.
B. The promise is legally enforceable to the extent it does not involve the transfer of
land ownership.
C. The promise is not legally enforceable unless Holly proves that the promise
influenced her decision to marry him.
D. The promise is not legally enforceable since it was not written.
Omar receives a check from Trudy drawn on Shelfari Bank. Shelfari Bank improperly
dishonors the check when Omar attempts to cash it. Which of the following is true of
this case?
A. Omar is the holder or the check, and hence has recourse against Trudy, the drawer.
B. Shelfari Bank, the drawee bank, is liable to Omar, the holder, for improperly
dishonoring the check.
C. Omar has recourse against both the parties – the drawer, Trudy, and the drawee bank,
Shelfari Bank.
D. Omar has recourse against Shelfari Bank, in case Trudy does not reimburse Omar.
In terms of shareholder voting control, this voting method states that each share of stock
has as many votes as there are directors to be elected.
A. Voting trusts
B. Proxy voting
C. Pooling agreements
D. Cumulative voting
Which of the following is a business corporation where the outstanding shares of stock
and managerial control are closely held by fewer than 50 shareholders or by one
person?
A. S corporation
B. Close corporation
C. Alien corporation
D. Shell corporation
Which chapter of the bankruptcy codes allows federal homestead exemption?
A. Chapter 11
B. Chapter 7
C. Chapter 13
D. Chapter 12
_____ refers to all relevant technical knowledge about the field to which the invention
belongs
A. Patent watch
B. Trade secret
C. Priority right
D. Prior art
Polonius registered for five nights at Cloud Hotel at $200 per night. Cloud requested
Polonius’ credit card number when he registered. When Polonius went to a restaurant,
his credit card was denied since it was at the authorized credit limit. How was Polonius’
credit card limit reached by registering at Cloud Hotel?
A. Cloud charged the card the full amount of his stay.
B. Cloud charged the card $1200 with the 20% overage allowed to cover possible
damages.
C. Cloud blocked Polonius’ credit card when he registered.
D. Cloud made use of the card for payments other than paying the hotel tariff.
This theory of corporate management is based on the belief that because corporate
decision making influences more individuals and groups than just the shareholders and
the managers, corporate decisions should be made by an impartial group of corporate
outsiders.
A. Governmental control
B. Special interest group control
C. Corporate democracy
D. Managerial control
The Wagner Act accomplished all of the following except:
A. authorize the NLRB to hold hearings on unfair labor practice petitions.
B. outlaw certain practices by employers as unfair labor practices.
C. allow states to legislate right-to-work laws.
D. authorize the NLRB to conduct representative elections.
According to ethical relativism:
A. human values apply to all people at all times.
B. both natural law and positive law form the basis for its beliefs.
C. there are no objective or absolute standards of right and wrong.
D. the morality of an action is determined by its ultimate effects.
The Revised Uniform Partnership Act has eliminated:
A. all management rights enjoyed by partners.
B. the concept of tenancy in partnership.
C. partnership entity status.
D. each partner’s interest in the firm.
In deciding if an item is a fixture, the courts look to:
A. attachment, adaptation and easement.
B. adaptation, easement and intent.
C. intent, tenement and attachment.
D. attachment, adaptation, and intent.
Hamyes Chemical Works dumps tons of toxic materials into the river which is the main
source of water for the city. George, an employee, reports this to the city council and
agrees to give a testimony when required to do so. George is immediately discharged
from the job. Haymes Chemical Works:
A. has rightly discharged George as his act amounted to breach of trust.
B. would be liable for legal action under the Wagner Act.
C. could be charged with coercion and harassment under the Taft-Hartley Act.
D. is protected under the First Amendment.
_____ includes any symbol, made with the intent to authenticate a writing.
A. Seal
B. Informal note
C. Mark
D. Signature
_____ characterizes any system of law that is consistently applied in the same
evenhanded way, no matter who the antagonists might be.
A. Universality
B. Neutrality
C. Mutuality
D. Involvement
Alan sells merchandise on credit to ABC Co. ABC fails to pay for the merchandise.
Alan later discovers that ABC is not a corporation but a partnership consisting of Alice,
Betty, and Charles. Which legal doctrine might shield Alice, Betty, and Charles from
personal liability?
A. De facto corporation
B. De jure corporation
C. Corporation by estoppel
D. Piercing the corporate veil
Developing and formulating rules in line with values defines:
A. ethics.
B. conduct.
C. law.
D. rationalism.
Rare art was stolen from the Zerba Art Museum during a war and thirty years later is
located in the Alpha Art Museum in another country. Who has title to the art if Alpha
did not know the art was stolen?
A. Alpha since it is innocent of wrong doing.
B. Zerbasince the art was stolen.
C. Alpha since Zebra has relinquished title in the thirty years.
D. Zerba since it had not sent the art voluntarily.
Defamation in a temporary form, such as speech, is:
A. invasion of privacy.
B. breach of duty.
C. slander.
D. libel.
_____ are reasonable expenses that indirectly result from the breach, such as expenses
incurred in stopping delivery of goods, transporting goods, and caring for goods after
the buyer’s breach.
A. Compensatory damages
B. Resale damages
C. Punitive damages
D. Incidental damages
Alan, a corporate manager, decides he would like to pursue, for himself, a business
opportunity he knows his corporation would also be interested in. Under the corporate
opportunity rule, Alan may:
A. pursue the business opportunity only if he offers it to other corporate managers and
also allows them to pursue it.
B. never pursue the business opportunity as long as he is employed by the corporation.
C. pursue the business opportunity if he first offers it to the corporation and the
corporation rejects it.
D. pursue the business opportunity without informing the corporation of it.
A court procedure during which the criminal defendant is reminded of his/her rights is:
A. anindictment.
B. a preliminary hearing.
C. an arraignment.
D. an initial appearance.
A _____ might be used by target management if the target owns an irreplaceable piece
of property, the sale of which would seriously devalue the overall worth of the target.
A. greenmail
B. lockup agreement
C. public relations campaign
D. targeted shareholder agreement
Sagan is borrowing money from Big Bank and his friend Leda, who works for Graille
Systems, signs the loan agreement promising to pay the debt if Sagan does not. Who is
the obligee?
A. Sagan
B. Leda
C. Graille Systems
D. Big Bank
Under the RUPA:
A. partnerships have continuity of existence.
B. a partnership is considered an entity in all situations.
C. a partnership is no longer viewed as an aggregate in relation to liability.
D. partners have no liability for the obligations of the partnership.
An agent may terminate an agency relationship by revocation.