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BUSINESS LAW 2000 FINAL

Economic growth depends “in particular on the rule of law” which is a “lodestar for all countries.” Why?
Rule-of-law nations adopt laws supporting the private market because it is in everyone’s interest, including the lawmakers’.
So significant is the role of judges in the United States that they determine the meaning of the Constitution and can declare void the legislation of Congress and the acts of the president. This illustrates that the legal system in the U.S. is based on _____.
common law
_____ law courts do not make law nor do their judges think themselves obligated to follow prior judicial decisions, called precedents.
Civil
_____ law covers the legal principles that apply to government agencies, bureaus, boards, or commissions.
Administrative
In most criminal cases, an arrest can be made only based on probable cause and requires the officer to read out the Miranda rights to the criminal suspect before the arrest is made. This is an example of:
Procedural law
Federal law and business leaders alike favor _____ as a means of governing private business ethics.
self-regulation by companies
Which of the following provides the best definition of ethics?
Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions.
Which of the following is NOT an ethical rule of legal regulation?
You are your brother’s keeper
Who, among the following, does NOT have a duty of confidentiality?
A mechanic
In which of the following situations is there a conflict of interest?
An agent working for a competitor of the agent’s principal.
The _____ Amendments to the Constitution guarantee the right to a jury trial.
Sixth and Seventh
The attorney-client privilege extends to:
communications made to the lawyer’s employees.
Most lawsuits begin at the _____ level.
trial court
_____ refers to the power of a court, at the state or federal level, to hear a case.
Jurisdiction
In addition to the state in which it is incorporated, a corporation’s “citizenship” is recognized by the courts as:
the state in which it maintains its principal place of business.
In order to hear a case, a court requires _____.
subject matter jurisdiction
Eli, a resident of New York, wants to sue Tony, a resident of Texas, for a civil incident that occurred in New York. In order to obtain jurisdiction under a long-arm statute, the court must find that:
Tony entered into a contract or transacted business that is the subject matter of the law suit in New York.
After the complaint is filed, the first thing the defendant must file is the:
answer
A lawsuit that is totally lacking in merit is referred to as _____.
frivolous
Once the court’s decision is final, the decision is conclusive as to all issues between the parties. This is called _____.
res judicata.
_____ is the process used to persuade or coerce someone to do what you want them to do.
Negotiation
Which of the following is true of the use of ADR techniques?
Disputing parties can agree to use an ADR technique after the dispute arises.
Which of the following is true of arbitration?
The decisions arising from arbitration are binding on the parties.
In which of the following cases will courts most likely use judicial review to change the awards of voluntary arbitration?
The decision violates a positive mandate of the law.
The difference between a mediator and an arbitrator is that:
an arbitrator can force a binding solution on both parties.
The _____ creates the Congress, the presidency and vice presidency, and the Supreme Court of the United States.
United States Constitution
When various laws are not consistent, which of the following is given first priority?
United States Constitution
Snow Crystals Inc., a leading skate park construction company, had constructed a skate park with a charter in the state of Alaska. A few years later, when the state authority sanctioned the Nightingale Bridge Company to build a bridge that would use the land where the skate park was already constructed, the proprietors of Snow Crystals claimed that the state authority had broken its agreement with Snow Crystals, and thus the contract had been violated. The owners claimed that the charter had implied exclusive rights to Snow Crystals Inc. Which of the following should be applied to enable Snow Crystals Inc. avail justice?
Contract clause
Which of the following is true about freedom of speech?
It covers both verbal and written communications.
_____ cases involve whether proper notice has been given and a proper hearing has been conducted.
Due process clause
Mike has a car accident and Maria saves his life. To show his appreciation, Mike gives Maria a life estate in one of the homes he owns. Maria lives there for a while and then accepts a job in another state so she gives the property to her sister Jackie. (This is permissible to do.) Jackie owns the property until:
Maria dies.
Which of the following most accurately describes dirt in your neighbor’s wheelbarrow?
The dirt in the wheelbarrow is personal property.
Willie gave his girlfriend Madonna a gold necklace for her birthday. The next day Madonna broke up with Willie and started dating his best friend Waylon. Willie is heartbroken and furious. He becomes so upset that he commits suicide. Can Willie’s estate get the necklace back from Madonna?
Willie’s estate cannot recover the necklace because he intended to make the gift, delivered it, and Madonna accepted.
Ruth is visiting her granddaughter Marcy and decides to give Marcy her very expensive cameo brooch. The brooch, an heirloom, has been in the family for over 100 years and is the only item in a safe in Ruth’s home. Ruth offers the brooch to Marcy who accepts. Ruth then gives Marcy the only key to the safe. According to the information given in this case, which of the following statements is true regarding the gift?
This is a valid gift because there has been a constructive delivery.
Brothers Wayne and Garth twins in their mid-40s, but they still live with their parents. Finally on their 45th birthdays, they are told by their parents that they must move out within 60 days.
Because their parents have permitted them to stay in the house for over 20 years, they must move out.
Fred takes Betty to dinner at a very expensive and exclusive restaurant. The menu does not mention the prices. The server takes their order and both Fred and Betty enjoyed the meal immensely. When the bill comes, Fred refuses to pay because the menu had no prices and because he and the server never engaged in language indicating an offer and acceptance. The server said, “Are you ready to order” and when Fred said “yes”, the server merely asked, “What may I get you tonight”?
Fred must pay based on an implied-in-fact contract theory.
Mayra offers to sell her home to Hanna for “about $100,000 plus closing costs.” Hanna accepts Mayra’s offer but later, a dispute arises concerning the precise dollar amount of the purchase price. How will a court resolve this dispute?
The court will declare the purchase price and terms too indefinite to create a binding contract.
Brett offers to sell his old, but working, cell phone to James for $65. James says he will accept the offer if Brett lowers the price to $60. James has:
made a counteroffer.
Josh’s dog, Ginger, has run away so Josh places reward posters throughout the neighborhood offering $500 for anyone who brings Ginger home safely. Amanda, Josh’s colleague sees Ginger and brings her back to Josh without ever seeing a poster. After returning the dog, Amanda then sees one of the reward posters and returns to claim the money. Which of the following is true of this situation?
Amanda is entitled to the money since performance of the requested act in the poster indicates acceptance.
Barney takes his wife Betty to a Porsche dealership and tells her to pick out whichever car she wants as a birthday present. She chooses a red Boxter. Barney negotiates a price with the dealership and signs a contract paying cash for the car. Barney repeatedly tells the dealer that the car is a gift for his wife. The car is to be serviced and picked up at 10:00 a.m. the next morning. Barney dies that night. When Betty arrives at the dealership to get the car, they refuse to give it to her because only Barney signed the contract.
Betty is entitled to the car as a donee beneficiary.
If a word of a term in a written contract has _____, particular to the industry to which the parties belong, the court will give the term or word that meaning.
a trade usage
In a situation where a buyer and seller have not mentioned details about delivery, which of the following can be applied?
The buyer will have to make arrangements to pick up the goods at the location the seller designates.
Finishing the construction of a home two days after the contract called for completion (no injury occurs) most likely will be considered:
substantial performance.
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.
Bill’s performance will not be excused if obtaining rubber from another plantation is reasonable and possible.
Daniel’s failure to deliver ice-cream makers and waffle makers on time, resulted in a two-week delay in the opening of Sheena’s new ice-cream parlor. Sheena incurred a heavy loss since she had to pay the rent for those two weeks, as well as salaries to the personnel hired. Which of the following damages can Sheena claim from Daniel for breach of contract?
Consequential damages
Which of the following is true of tort law?
It sets limits on how people can act and use their resources.
Tony has admired Ann for months, but he has never talked to her. One day, Tony walks up to Ann and gives her a hug and a kiss. Ann is angry and decides to sue Tony. Tony has committed the tort of:
battery.
Teresa, the manager at Victor Co., warned Gray, who has performed poorly throughout the year that he would lose his job if he did not perform well. Later that evening, Gray is angry with Teresa and sends her an e-mail from an anonymous address, threatening to harm her when she is on her way home tomorrow. The next day, Gray realizes his mistake, and attempts to apologize to Teresa, who was petrified after reading the mail and spent the entire night in office. Teresa can sue Gray for:
assault.
Many advertisers and marketers have been required to pay damages to individuals when pictures of them have been used without authorization to promote products. In this situation, which of the following torts was committed by the advertisers and marketers?
Invasion of privacy
Mega-mart suspects Roberta of shoplifting, solely because she is dressed differently than their typical customer, so store officials detain her. They find nothing improper in Roberta’s belongings. Roberta most likely will file a ________ lawsuit against Mega-store.
false imprisonment
A process, product, or compilation of information that gives businesspersons an advantage over their competitors is known as a _____.
Trade secret
Which of the following is a(n) order by a judge either to do something or to refrain from doing something?
Injunction
Recognizability is the function of _____.
trademarks
_____ is a mark representing membership in a certain organization or association.
Collective mark
Which of the following is true about a copyright?
No registration is required to obtain a copyright under federal law.
_____ is designed to stop bribery of foreign officials and to prohibit U.S. citizens and companies from making payments to foreign officials whose duties are not “essentially ministerial or clerical” for the purpose of obtaining business.
FCPA
Which of the following examines relationships between nations and uses rules that are binding on all countries in the international community?
Public international law
Which of the following organizations was created to develop standardized commercial practices and agreements?
UNCITRAL
Which of the following agreements is designed to eliminate barriers on products trades between Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, the Dominican Republic, and the United States?
CAFTA-DR
The Supreme Court prevented which of the following from being extended to foreign governments acting in a commercial capacity?
Doctrine of sovereign immunity
The government files a charge called an information for:
Misdemeanor criminal cases
A _____ determines if there is sufficient evidence to warrant a trial.
Grand jury
Which of the following helps a defendant to avoid the effect of a guilty plea in a subsequent civil action?
Nolo contendere
Which of the following is true of a grand jury?
It prevents political trials and unjustified prosecutions.
Andrew posed as a salesman and called many houses through the telephone in order to collect personal information such as credit card numbers and social security numbers. Name the crime that Andrew committed.
Wire fraud
A _____ is any change in the ownership of an organization that changes the legal existence of the organization.
Dissolution
The factor of _____ concerns who is managing the business organization.
Control
Which of the following is the easiest and least expensive business organization to create?
Sole proprietorship
Which of the following is true regarding a partnership?
A partnership does not need permission from each state in which it does business.
A(n) _____ is an agent appointed by a shareholder for the purpose of voting the shares.
Proxy
The _____ gives the federal government the authority to regulate business activity.
Commerce clause
The authority of the state and local governments to regulate business activity comes from the _____.
Police powers
Which of the following statements is true of administrative agencies?
They can issue rules that have the impact of the laws and can make decisions like a court.
An agency may order that a violator stop the objectionable activity and refrain from any further similar violations. This is known as a(n) _____ order.
cease and desist
Administrative law judges are protected from liability for damages based on their decisions. This protection is called _____.
Immunity
Which of the following is true of the Sherman Act provision?
It applies only to interstate commerce or foreign commerce.
_____ refers to seeking to advance market share by injuring actual or potential competitors by means other than improved performance.
Predatory conduct
When a defendant pleads _____, he can avoid an automatic proof deriving from a criminal case.
Nolo Contendere
Which of the following is true of franchise contracts?
A franchisee must purchase its equipment from the franchiser.
A _____ merger usually combines two businesses in the same field or industry.
Horizontal
The Securities and Exchange Commission, under its quasi-judicial power:
involves in a variety of investigations.
A(n) _____ is anyone who contracts with a purchaser or who is a motivating influence that causes the purchase transaction to occur.
Seller
_____ ads are brief announcements of a security and its price which appear during the waiting period and disseminate facts to be disclosed in the prospectus.
Tombstone
Which of the following is true of short-swing profits?
The order of the purchase and sale is immaterial while making short-swing profits.
A(n) _____ is viewed as a temporary insider and is liable for the use of nonpublic information.
Tippee
Which of the following is true of the Federal Trade Commission?
It advises firms that request it as to whether a proposed practice is unfair or deceptive.
The chief legal tools of the Bureau of Consumer Protection are the consent order and the:
cease and desist order.
Olive, Inc., a leading food manufacturing industry, depends on consumers to make the link between their products and good health. They use one or two words in their advertisements to get the good health message across. They use words such as, “contains omega-3”, “contains fiber”, “now with probiotics”, or “no cholesterol”. This implies that Olive, Inc., is making a(n) _____ claim in the ads.
Implied
Which of the following is true of the Truth-in-Lending Act?
It imposes a duty on all persons regularly extending credit to private individuals.
Which of the following is imposed by the Fair Debt Collection Practices Act on collectors?
A collector cannot represent himself/herself as an attorney unless it is true.
Which of the following is true about scoping?
It encourages formal impact statements to focus on more substantial environmental concerns.
Secondary quality standards are deemed necessary to protect:
Property
Which of the following is true about the bubble concept?
It licenses a plant complex as a whole for a limited amount of pollution emission.
Four Wheels, a leading automobile manufacturer, reduces pollution beyond what the law requires and keeps these reductions for its own future use. It uses revised engine mapping, diesel particulate filters that help the fuel consumption, and lower nitrogen oxide levels. There is also a start-stop system that halts and restarts the motor at brief stops. Which of the following is Four Wheels engaging in?
Emissions reduction banking
An abandoned lake in a town was excavated and huge amounts of contaminated soil and toxic wastes were discovered. The local municipality owned the land where the lake was located. It settled the costs for restoring the lake to its previous condition. This implies that the local municipality involved in:
Remediation
Title VII of the Civil Rights Act of 1964 prohibits discrimination on the basis of race, religion, sex, color, or:
National origin
Which of the following factors is omitted from bona fide occupational qualifications?
Race
Which of the following is true of the Equal Employment Opportunity Commission (EEOC)?
The members of the EEOC are appointed by the president.
Oliver got a job transfer to a remote area because he had made a discrimination charge against his employer, Jerry. Which of the following cases was Jerry involved in?
Retaliation
Which of the following would qualify as a bona fide occupational qualification?
A Baptist church refusing to engage a Lutheran minister.
Which of the following is true of the Worker Adjustment and Retraining Notification Act (WARN)?
It requires employers to provide notice of plant closings and mass layoffs.
Which of the following is true according to the FMLA?
It provides 12 weeks of unpaid leave for birth and care of a newborn child of an employee.
Which of the following is true about the USERRA?
It protects the rights of individuals who leave employment positions to undertake military service.
An industrial plant accident occurred at a caustic waste reservoir chain. The dam of red mud reservoir broke and the escaping highly toxic and alkaline sludge flooded many settlements. It killed several residents who lived near the dam and caused many injuries. Which of the following would investigate the hazard that occurred in the industry?
The Occupational Safety and Health Administration
Which of the following is categorized by the U.S. Citizen and Immigration Services as document abuse?
Improperly requesting that employees present a green card to establish identity and/or employment authorization.
Which of the following acts strictly prohibits federal courts from enjoining lawful union activities, including picketing and strikes?
Norris-LaGuardia Act
Which of the following falls under the jurisdiction of the National Labor Relations Board (NLRB)?
Hospitals
Turners.Co, hires only those candidates who belong to a labor union. In accordance to the Wagner Act, which of the following unfair labor practices is being violated by the company?
Discriminating based on union affiliation
Which of the following contracts requires the employer to make it mandatory for its newly hired employees who are not members of the union to join the union as a condition of continued employment?
Union shop contract
Which of the following leads to the violation of the Landrum-Griffin law?
An uncertified union forces an employer to agree with their demands.

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