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Quasi-strict scrutiny has resulted in holdings that find laws to be valid as well as
unconstitutional.
Answer:
The impetus for creating the benefit corporation structure comes from the perception
that traditional corporate forms place less emphasis on shareholder rights.
Answer:
In a bankruptcy proceeding against an individual, the individual's property can be
liquidated under Chapter 7 of the bankruptcy law.
Answer:
The Digital Millennium Copyright Act makes illegal the effort to get around devices
used by copyright owners to keep their works from being infringed.
Answer:
Reviewing courts exercising judicial restraint often engage in a balancing approach to
their decisions.
Answer:
The World Trade Organization requires countries to downgrade their intellectual
property laws to protect patents and copyrights.
Answer:
Copying for research or teaching are considered an infringement of the owner's
property.
Answer:
The Federal Administrative Procedure Act provides for judicial review where agency
action is committed to agency discretion by law.
Answer:
The justification for intellectual property is the same as for the private property system.
Answer:
Sociological jurisprudence emphasizes that contemporary law should focus on legal
principles that have withstood the test of time in a nation.
Answer:
President Obama nominated Justice Sonia Sotomayor as an associate justice of the
Supreme Court, and she took office in 2009.
Answer:
The contract clause restricts the federal government's power to impact contractual
relationships.
Answer:
Liability traditionally has been imposed against violators even though they lacked any
wrongful intent.
Answer:
The Uniform Commercial Code (UCC) applies to individuals as well as firms.
Answer:
Under the 1933 Act, the basic period of the statute of limitations starts to run even
before the discovery of the untrue statement or omission.
Answer:
The philosophy of judicial activism is sometimes referred to as strict constructionism.
Answer:
Shane wants to sell his car. He accepts Layla's offer and sells the car at $15,000. Layla
is the offeree.
Answer:
Among the costs frequently paid by debtors that are not included in the finance charge
are recording fees and taxes.
Answer:
Foreclosure means that the court will order the land sold to satisfy the debt owed,
usually by auction to the highest bidder, with any excess after payment of what is owed
to the secured creditor going to the debtor.
Answer:
It is a conflict of interest for a judge or administrative regulator to make a decision
involving a company in which he or she owns stock.
Answer:
For a party's nonperformance of contract to be excused because of impossibility of
performance, the impossibility must be objective.
Answer:
Liability of an employer exists regardless of lack of negligence or fault, provided the
necessary association between the injuries and the business of the employer is present.
Answer:
Under the Uniform Commercial Code (UCC), all contracts and contract offers must
have consideration.
Answer:
U.S. pesticide companies can sell internationally what they cannot sell in the United
States.
Answer:
The Securities Act of 1933 is a disclosure law with respect to the initial sale of
securities to the public.
Answer:
Territorial arrangements within channels of distribution are analyzed under the rule of
reason.
Answer:
Increasing economic interdependence prevents executives and managers at a firm from
manipulating corporate actions for their own benefit.
Answer:
Probate courts deal with juvenile crime and dependent children.
Answer:
Employers with health or disability plans must cover pregnancy, childbirth, and related
medical conditions in the same manner as other conditions are covered.
Answer:
The goal of the Sherman Act is to eliminate competition.
Answer:
The National Academy of Sciences notes that global carbon dioxide levels have
decreased rapidly since 1960.
Answer:
In cases tried before a jury, the function of the jury is to decide questions of fact, but the
judge still is responsible for deciding questions of law.
Answer:
In the context of foreign sales, there is no room in documentary transactions for
substantial performance.
Answer:
In a closely held corporation, which of the following lawsuits is likely to be brought by
a minority shareholder on behalf of a corporation if the majority is acting illegally or
oppresses the rights of the minority shareholders?
A. a derivative suit
B. a preemption suit
C. a petit suit
D. a dissolution suit
E. a termination suit
Answer:
As part of the trademark application process, the Patent and Trademark Office places a
proposed mark in the ______, which gives existing mark owners notice and allows for
objection.
A. Official Gazette
B. Federal Register
C. legal section of major newspapers
D. congressional record
E. Principal Register
Answer:
______ takes place when a seller sells at unreasonably low prices to drive out a
competitor.
A. Transfer pricing
B. Translational pricing
C. Congestion pricing
D. Predatory pricing
E. Psychological pricing
Answer:
Which of the following statements is true of the role of economic interdependence on
business ethics and society?
A. It reduces concerns about business ethics.
B. It sometimes gives opportunities to executives who control what stockholders own to
manipulate corporate actions for their own benefit.
C. It reduces any transparency problems in an organization as corporate leaders are
usually the real owners of corporations.
D. It predominantly results in utilitarianism.
E. It ensures that the decision taken by stockholders have little effect on others.
Answer:
The International Court of Justice
A. is made up of seven judges representing the most developed countries of the world.
B. allows all nations to initiate a case before it.
C. renders, on average, seventy contested decisions per year.
D. has no enforcement authority against countries that breach international law.
E. has been a major force in settling disputes since it began functioning.
Answer:
Possible civil remedies for violation of the Digital Millennium Copyright Act can
include ______.
A. consequential damages
B. actual and punitive damages
C. actual damages and injunction
D. double actual damages
E. compensatory damages
Answer:
_____ refers to the power of a court, at the state or federal level, to hear a case.
A. Judicial activism
B. Res judicata
C. Judicial restraint
D. Voir dire
E. Jurisdiction
Answer:
Which of the following is given first priority when various laws are not consistent?
A. U.S. Constitution
B. state laws
C. local laws
D. U.S. laws
E. federal laws
Answer:
The Americans with Disabilities Act does not require employers to
A. hire the unqualified disabled.
B. hire the qualified disabled.
C. make reasonable accommodations for their employees.
D. make reasonable accommodations for customers.
E. purchase equipment for use by disabled employees.
Answer:
False arrest is also called ______.
A. conversion
B. false imprisonment
C. embezzlement
D. malicious prosecution
E. battery
Answer:
Which of the following statements is true of monopoly power?
A. Mere possession of monopoly power violates Section 1 of the Sherman Act.
B. If monopoly power is thrust upon a firm, there is a violation Section 2 of the
Sherman Act.
C. Monopoly power which exists because of a patent or franchise violates the Clayton
Act.
D. If a firm engages in conduct that has the effect of extending its monopoly power, it
does not violate the Sherman Act.
E. Proof of monopoly power alone is insufficient to qualify as a violation of the
Sherman Act.
Answer:
Which of the following are judicial decisions that interpret the relevant constitutional,
legislative, and regulatory laws?
A. Citations
B. Injunctions
C. Case law
D. Dicta
E. Statutes
Answer:
In a civil lawsuit, personal jurisdiction over a defendant is usually obtained by a notice
to appear in court. This delivery of notice is referred to as __________
A. res judicata
B. a discharge
C. service of process
D. ratio decidendi
E. extradition
Answer:
After an appeal gets rejected by an intermediate appellate court, the losing party may
petition the highest court in the system for a(n) _____.
A. ratio decidendi
B. obiter dictum
C. res judicata
D. writ of certiorari
E. voir dire
Answer:
Hot Hogs Corporation, an international hotdog eatery, produces a misleading television
advertisement, which shows that one hotdog of Hot Hogs contains only 30 grams of fat.
A consumer organization, a group that protects consumers from corporate exploitation,
files a complaint with a federal institution which in turn issues an order prohibiting Hot
Hogs from making such statements about its products without scientific evidence. This
instance of regulation on advertising about food products is an example of a limitation
on ______.
A. the right to establishment
B. individual speech
C. overbreadth doctrine
D. commercial speech
E. the freedom of thought
Answer:
If a bonus is based on the amount of sales, the Family and Medical Leave Act (FMLA)
requires an employer to award sales that an employee would have made if not on family
medical leave.
Answer:
Which of the following statements is true of sources of international law?
A. Public international law uses rules that are binding only on specific countries in the
international community.
B. Public international law examines relationships between nations.
C. Private international law examines relationships between private individuals.
D. Private international law utilizes U.S. law to resolve international business disputes.
E. Public international law determines the type of goods sold in every country.
Answer:
A ______ promises the grantee that the grantor has good ownership and the full power
to convey it.
A. special warranty deed
B. pass title deed
C. quitclaim deed
D. freehold deed
E. warranty deed
Answer:
Under Section 1981, ______.
A. the courts can award compensatory and punitive damages up to a maximum of
$100,000 per offence
B. the courts can award unlimited compensatory and punitive damages
C. a plaintiff must first go through the Equal Employment Opportunity Commission to
file an employment suit
D. a plaintiff can sue for unlimited damages for discrimination based on sex, religion,
national origin, or age
E. a plaintiff is prohibited from suing under Title VII of the Civil Rights Act
Answer:
A(n) ______ is any change in the ownership of an organization that changes the legal
existence of the organization.
A. arbitration
B. rescission
C. restitution
D. dissolution
E. extradition
Answer:
The use of ethical standards to avoid restrictions on price fixing is
A. a violation of the Sherman Act.
B. illegal per se under the Clayton Act.
C. legal as long as relative-value scales are used.
D. legal for services.
E. only allowed for healthcare products.
Answer:
In the context of tort liability, which of the following doctrines is reflected in the phrase
"let the master reply"?
A. Respondeat superior
B. Frolic and detour
C. Nolo contendere
D. Novation
E. Promissory estoppel
Answer:
The Age Discrimination in Employment Act recognizes both disparate treatment and
disparate impact discrimination for employers with ______.
A. 5 or more employees
B. 10 or more employees
C. 15 or more employees
D. 8 or more employees
E. 20 or more employees
Answer:
The ______ 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
Answer:
Which of the following is an exception to the statute-of-frauds requirement that
sale-of-goodscontracts be in writing?
A. a contract involving goods that are worth at least $500
B. a contract 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
Answer:
Rummaging through trash looking for personal information is known as ______.
A. skimming
B. dumpster diving
C. phishing
D. larceny
E. racketeering
Answer:
A ______ specifies a period of time following a product sale after which a plaintiff
would lose his or her right to bring a law suit for product-related injuries.
A. statute of repose
B. statute of repast
C. statute of repentance
D. statute of reproach
E. statute of reform
Answer:
According to _____, judges in current cases follow whenever possible the interpretation
of law determined by judges in prior cases.
A. stare decisis
B. writ of certiorari
C. ratio decidendi
D. constitutional relativism
E. legal realism
Answer:
Goods that are identical are known as a(n) ______.
A. fungible
B. accession
C. lien
D. gifts
E. collateral
Answer:
Congress authorized the Federal Mediation and Conciliation Service to help achieve the
goals of the ______.
A. Clayton Act
B. Sherman Act
C. Wagner Act
D. Taft-Hartley Act
E. Comstock Act
Answer:
When you purchase an item from Globus Corp., they place the item in a paper bag with
handles and vertical yellow, blue, and white stripes. Even without seeing the words
"Globus Corp." on the bag, many people recognize that the purchase is from Globus.
The bag's coloring and design is considered its ______.
A. trade dress
B. certification mark
C. collective mark
D. service mark
E. trademark
Answer:
The ______, passed in 1993, provides for a dispute settlement mechanism that makes it
easier to resolve trade disputes between the United States, Mexico, and Canada.
A. Convention on the International Sale of Goods
B. North American Free Trade Agreement
C. Central America-Dominican Republic Free Trade Agreement
D. Foreign Corrupt Practices Act
E. General Agreement on Tariffs and Trade
Answer:
Which of the following is an order by the court commanding the other party actually to
perform a bargain as agreed?
A.De novo judicial review
B. Obiter dicta
C. Stare decisis
D. Specific performance
E. Eminent rationality
Answer:
The Wagner Act is also known as the ______.
A. Labor-Management Relations Act
B. National Labor Relations Act
C. Railway Labor Act
D. Right-to-work Act
E. Federal Arbitration Act
Answer:
What is the mirror image rule?
Answer:
Briefly describe the judicial power of the federal courts.
Answer:
Beatrice owns a trucking company in Texas and is looking for a few new trucks to add
to her fleet. She buys three trucks, each valued at $50,000, from Ted & Larry Trucks,
Inc. However, when Beatrice receives the trucks, she finds that they are in a state of
disrepair. When preparing for bringing a suit against Ted & Larry Trucks, Beatrice finds
out that the partnership was created in Louisiana, where Larry lives, and Ted lives in
Texas. Should Beatrice file her claim in a state or a federal court?
Answer:
Briefly explain the degree of control held by a sole proprietor.
Answer:
Explain the forms of concurrent ownership through joint tenancy and tenancy in
common.
Answer:
What is the statute of limitations under Securities Act of 1934?
Answer:
What is the civil liability under the Securities Act of 1933? Which sections of the Act
directly apply to civil liability?
Answer:
In the context of alternative dispute resolution, briefly discuss the two forms of
agreements to voluntarily arbitrate disputes.
Answer:
What is covered under the Fair Debt Collection Practices Act and what is exempt from
the provisions of this Act?
Answer:
Briefly explain the concepts of waiver and release.
Answer:
What is the purpose of the Privacy Act of 1974?
Answer:
How would one determine whether found property is lost or mislaid? What are the
rights of the finder of lost or mislaid property?
Answer:
Briefly explain the two affirmative defenses to a negligence claim.
Answer:
Clark Power Station releases around five million gallons of wastewater every day
containing mercury, cobalt, lead, and chromium. These substances exceed the limits
that were determined by the Florida Department of Air and Water Pollution Control to
maintain the quality of the water in the Trout River. It also discharges selenium in
excess of permit limits. This element is extremely poisonous to waterfowl and fish.
Which law does Clark violate?
Answer:
What are the two constitutional limitations to the delegation of quasi-legislative
authority to administrative agencies?
Answer:
What are the broad powers granted to a trustee in bankruptcy?
Answer:
Briefly explain the supremacy clause.
Answer:
What is the purpose of the Health Insurance Portability and Accountability Act of 1996?
Answer:
According to the law, what is the three-step approach to understanding the agency
relationship?
Answer:
