Business and Society
Midterm Exam
Course Introduction
Business and Society explores the complex interactions between businesses, governments, and communities in both local and global contexts. The course examines how social, ethical, environmental, and stakeholder concerns influence business decisions and practices. Key topics include corporate social responsibility, ethical frameworks for decision-making, the regulatory environment, sustainability challenges, and the evolving expectations placed on organizations by society. Through case studies and real-world examples, students gain insight into how businesses can balance profitability with social good and how responsible leadership shapes the future of work and society.
Recommended Textbook
Business Law Text Cases An Accelerated Course 14th Edition by Roger LeRoy Miller
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19 Chapters
1368 Verified Questions
1368 Flashcards
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Page 2
Chapter 1: Law and Legal Reasoning
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Sample Questions
Q1) Rachel is a state court judge. Salina appears in a case in Rachel's court, claiming that Tomas breached a contract. Possible remedies include
A) compensation to Rachel for a favorable ruling.
B) Tomas's imprisonment.
C) a criminal fine levied by Rachel on either party.
D) an award of damages to Salina.
Answer: D
Q2) Bob's Burgers n' Shakes Restaurant brings a suit in a court of law. At one time, a court of law could grant as a remedy only
A) damages.
B) an order to perform a contract as promised.
C) a judicial proceeding for the resolution of a dispute.
D) an injunction.
Answer: A
Q3) Stare decisis is a doctrine obligating judges to help persons who have failed to protect their own rights.
A)True
B)False
Answer: False
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Page 3
Chapter 2: Business and the Constitution
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Sample Questions
Q1) The President determines the jurisdiction of the federal courts.
A)True
B)False
Answer: False
Q2) The Alternative Energy Association would like a certain law enacted, administered, interpreted, and enforced in the best interest of its members, which include solar power companies. Under the Constitution, Congress
A) administers the laws.
B) enforces the laws.
C) interprets the laws.
D) enacts the laws.
Answer: D
Q3) Under the Constitution, the judicial branch is responsible for foreign affairs.
A)True
B)False
Answer: False
Q4) State laws protect individuals' privacy rights.
A)True
B)False
Answer: True
Page 4
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Chapter 3: Courts and Alternative Dispute Resolution
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Sample Questions
Q1) To resolve a dispute in nonbinding arbitration, Alyson in Baltimore and Chuck in Denver utilize E-Resolve, an online dispute resolution (ODR) service. This limits these parties' recourse to the courts
A) not at all.
B) until the ODR service has issued a decision.
C) with respect to any dispute arising between them.
D) with respect to this dispute only.
Answer: A
Q2) A business firm may have to comply with the laws of any jurisdiction in which it actively targets customers.
A)True
B)False
Answer: True
Q3) To have standing to sue, a party must be "standing" in the geographical jurisdiction of the court in which a suit is filed.
A)True
B)False
Answer: False
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Chapter 4: Tort Law
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Sample Questions
Q1) Tort law provides remedies for acts that cause damage to property.
A)True
B)False
Q2) A person assumes all risks associated with any activity in which he or she participates.
A)True
B)False
Q3) Conversion is limited to theft.
A)True
B)False
Q4) To avoid liability for negligence, a business owner must protect its customers against all risks.
A)True
B)False
Q5) Some risks are obvious but, with respect to the duty of care required to establish negligence, a warning is always necessary.
A)True
B)False
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Chapter 5: Criminal Law and Cyber Crime
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Sample Questions
Q1) Cameron is an accountant in the accounting department of Data Analytics Company. Cameron's son's college tuition is due within a week, or he cannot continue taking classes. To meet the due date, Cameron transfers funds from Data Analytics to a fictitious bank account, planning to repay the firm within one month. The transfer is discovered before the firm is repaid, and Cameron is arrested. What crime, or crimes, if any, has Cameron committed?
Q2) The purpose of the exclusionary rule is to encourage criminals to provide exclusive evidence of their crimes.
A)True
B)False
Q3) It is not a crime to defraud the public through the use of e-mail ads.
A)True
B)False
Q4) Constitutional safeguards to protect the rights of individuals apply in federal courts.
A)True
B)False
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Page 7
Chapter 6: Business Ethics
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Sample Questions
Q1) Ethical reasoning is the process through which an individual links his or her moral convictions or ethical standards to the particular situation at hand.
A)True
B)False
Q2) Ethics is as clearly defined as the law.
A)True
B)False
Q3) GetTogether, A Social Media Company encourages its managers to behave ethically, reasoning that lower-level employees will take their cues from management. One of the most important ways to create and maintain an ethical workplace is for GetTogether's management to
A) demonstrate a commitment to ethical decision making.
B) discreetly engage in unethical or illegal acts.
C) look the other way when an employee engages in an unethical act.
D) direct employees to "do as we say, not as we do."
Q4) In a corporation, managers are often faced with ethical trade-offs when a certain decision will benefit one group, but harm another.
A)True
B)False
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Chapter 7: Nature and Terminology
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Sample Questions
Q1) All contracts include an implied covenant of good faith and fair dealing.
A)True
B)False
Q2) On Monday, Neil tells Outdoor Landscaping, Inc., that he will pay Outdoor $500 if a variety of tasks are completed by Friday. On Wednesday, when Outdoor is more than half done with the work, Neil says that he has changed his mind. These parties had
A) an expired contract when Neil said that he had changed his mind.
B) a quasi contract when Neil said that he would pay for certain work.
C) a unilateral contract as soon as Outdoor began to perform.
D) no contract.
Q3) On behalf of the jazz group Fusion, their manager Greg agrees to a performance in Hillside Amphitheatre on July 4. Hillside sends a written copy of the agreement to Greg to be signed. If Greg signs the copy, the parties will have
A) an express contract.
B) an implied contract.
C) an implied-in-law contract.
D) no contract.
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Chapter 8: Agreement in Traditional and E-Contracts
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Sample Questions
Q1) Play-It-Loud, LLC, provides music-streaming services online subject to complex pricing schedules. To control specific offers for the services and thus the resulting contracts, important terms to provide online include
A) a provision relating to the resolution of any dispute.
B) a detailed history of the music business.
C) positive reviews from users of the service.
D) an updated list of the music available through the service.
Q2) An ad on the NewsNow Web site asks viewers to "send us your story and we might share it with the world." Ollie submits a manuscript, adding, "I accept your offer." Between NewsNow and Ollie, there is
A) a contract for the publication of Ollie's story.
B) a contract to consider Ollie's story before any others.
C) a contract to negotiate for the publication of Ollie's story.
D) no contract.
Q3) If no time for acceptance is specified in an offer, the offer terminates after a reasonable length of time.
A)True
B)False
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Page 10
Chapter 9: Consideration, Capacity, and Legality
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Sample Questions
Q1) Rescission is the remaking of a contract so as to enrich one party at the expense of the other.
A)True
B)False
Q2) Service Corporation markets its service to less educated consumers. In considering the unconscionability of a Service contract, a court will likely consider all of the following except
A) a buyer's level of education.
B) the parties' relative bargaining power.
C) the price of a service.
D) the seller's level of education.
Q3) Rita, a minor, misrepresents her age as twenty-one and signs a contract with Sporty Motors to buy a sport utility vehicle (SUV. In most states, Rita may
A) disaffirm the contract.
B) disaffirm the contract only if she makes full payment.
C) disaffirm the contract only if she returns the SUV in good condition.
D) not disaffirm the contract due to the misrepresentation.
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Chapter 10: Defenses to Contract Enforceability
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Sample Questions
Q1) Alice and Bart enter into a contract for the sale of Canyon Ranch. To be enforceable, this contract must be
A) substantiated by reliable, external evidence.
B) signed in a sufficient manner by both parties.
C) in writing or evidenced by a written memorandum.
D) all of the choices.
Q2) Hal's Hardware Inc. and Ideal Tools Corporation sign a written contract for a sale of goods. To be enforceable, this written contract must include
A) a correct title, such as "Purchase Order" or "Sales Invoice."
B) a date, such as "October 2017" or "10/2017."
C) a quantity term, such as "50 hammers" or "100 boxes of assorted nails."
D) the parties' contact information.
Q3) Evidence of prior agreements that differ from the written terms of a contract can be introduced in court to contradict the contract.
A)True
B)False
Q4) A party's oral agreement to pay another's debt is never enforceable.
A)True
B)False
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Chapter 11: Third Party Rights and Discharge
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Sample Questions
Q1) Marco and Ned enter into a contract for the sale of Marco's apartment for which Ned agrees to pay him $100,000. Marco cannot prohibit Ned from transferring his right to the ownership of the apartment because such a prohibition is A) against public policy.
B) immoral.
C) unconscionable.
D) a crime.
Q2) Delany & Sons, Inc., owes Evermore Bank $50,000. Delany enters into a contract with Floyd under which Delany promises to manage and oversee Floyd's Seaside Marina. Under the contract, Floyd promises to pay Evermore the amount that will be due Delany until his debt to Evermore is paid. Delany performs as promised, but Floyd does not pay the bank. Can Evermore succeed in a suit against Floyd? Why or why not?
Q3) A contractual obligation may not be discharged through novation.
A)True
B)False
Q4) Performance can be accomplished by tender.
A)True
B)False
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Page 13
Chapter 12: Breach of Contract and Remedies
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Sample Questions
Q1) Ready Repair Service enters into a contract to fix washers and dryers in Scrub n' Dry Company's coin-operated laundries. If Ready Repair breaches the contract, Scrub n' Dry can
A) do nothing but make a deal with a different service provider.
B) do nothing but temporarily suspend operations and wait.
C) file a criminal complaint against Ready Repair.
D) sue Ready Repair for damages.
Q2) Under the doctrine of mitigation of damages, the duty owed depends on the nature of the contract.
A)True
B)False
Q3) Rig Heli-Pads, Inc., enters into a contract to employ Scott as an on-site project manager for two years. If Rig breaches the contract, Scott has a duty to A) do nothing.
B) reduce the damages that Scott might otherwise suffer.
C) rescind the contract with Rig.
D) punish Rig and set an example to deter others from similar acts.
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Chapter 13: Intellectual Property Rights
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Sample Questions
Q1) Sui Generis, Inc. (SGI), designs and sells solar energy cells to research laboratories, commercial businesses, and individual consumers. Later, without SGI's permission, Mimic Company begins to sell cells of identical design to the same markets. This is most likely A) copyright infringement.
B) patent infringement.
C) trademark infringement.
D) none of the choices.
Q2) Trade names have the same legal protection as trademarks. A)True
B)False
Q3) Creation Worx, Inc., develops, makes, and markets new computer programs for businesses and consumers. Generally, copyright protection extends to A) all aspects of the software.
B) the "look and feel" of the software.
C) those parts of the software that can be read by humans.
D) all of the choices.
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Chapter 14: Internet Law, Social Media, and Privacy
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Sample Questions
Q1) Refer to Fact Pattern 14-2. By using a domain name similar to CallTalk's, CellTalk is most likely
A) diminishing the quality of CallTalk's mark.
B) making a fair use of CallTalk's mark.
C) licensing the use of CallTalk's mark to itself.
D) engaging in smart competitive conduct.
Q2) Using another's trademark in a meta tag does not normally constitute trademark infringement, even if it is done without the owner's permission.
A)True
B)False
Q3) InfoFree Inc. makes and sells devices and services for the circumvention of encryption software. Under the Digital Millennium Copyright Act, this is A) a violation of copyright law.
B) prohibited but not a violation of copyright law.
C) a "fair use" exception to the provisions of the act.
D) permitted for reconsideration every three years.
Q4) Federal wiretapping law covers electronic forms of communication.
A)True
B)False
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Chapter 15: The Formation of Sales and Lease Contracts
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Sample Questions
Q1) Fresh Dairy, Inc., is the offeror and Gelato Ice Cream Company is the offeree under a unilateral sales contract in which Hector's Helado Corporation is also interested. Gelato is not notified of Fresh Dairy's performance within a reasonable time. Gelato A) may treat the offer as having lapsed.
B) must assume that Fresh Dairy has started to perform.
C) must contact Fresh Dairy.
D) must notify Hector's.
Q2) In a dispute over a sale involving a bicycle, Dain argues that as to this deal Ed's Hobby Shop, where Dain bought the bike, is a merchant. A court may determine whether Ed's is a merchant by assessing whether
A) it has sold any bikes within the last year.
B) it holds itself out by occupation as having knowledge or skill unique to the bike in the transaction.
C) its owner enjoys biking.
D) it subscribes to Bike, a biweekly trade magazine.
Q3) UCC Article 2 applies to sales transactions between all buyers and sellers. A)True B)False
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Chapter 16: Performance, Breach, and Warranties of Sales and
Lease Contracts
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Sample Questions
Q1) If warranties are inconsistent, implied warranties displace express warranties. A)True
B)False
Q2) The seller's right to cure does not affect the right of the buyer or lessee to reject goods.
A)True
B)False
Q3) Business Rental Corporation (BRC) and Cartage Trucking Company enter into a contract for a lease of ten hydraulic lifts. Under the perfect tender rule, BRC must ship or tender goods to the lessee that
A) approximately conform to the contract description.
B) entirely conform to the contract description except in one or two details.
C) conform to the contract description in every way.
D) substantially conform to the contract description in most details.
Q4) The principle of good faith applies to both parties to a sales contract.
A)True B)False
Q5) Statements of fact made during the bargaining process are express warranties. A)True B)False
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Chapter 17: Agency Relationships in Business
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Sample Questions
Q1) Norton grants an ordinary power of attorney to Olena to locate potential real estate investment opportunities on Norton's behalf. This power will terminate on Norton's A) taking advantage of one of the investment opportunities.
B) death or incapacity.
C) sixty-fifth birthday.
D) hiring an actual attorney to exercise the power granted to Olena.
Q2) Whether a worker is an employee or an independent contractor has no effect on the employer's liability for the worker's actions.
A)True
B)False
Q3) A special power of attorney permits an agent to transact all business for a principal.
A)True
B)False
Q4) The relationship between an employer and an employee cannot involve an agency relationship.
A)True
B)False
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Chapter 18: Small Businesses and Limited Liability Companies
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Sample Questions
Q1) The owners of a limited liability company are liable for the obligations of the firm to the full limit.
A)True
B)False
Q2) Carl starts up, and assumes the financial risk of, DataWorks, a new Web marketing enterprise. Carl and DataWorks must meet legal requirements relating to
A) business name and state tax registration.
B) occupational licensing.
C) intellectual property laws.
D) all of the choices.
Q3) Olivia is a partner in Pacific Traders. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for
A) none of the obligations.
B) all of the obligations, jointly and severally.
C) all of the obligations, jointly but not severally.
D) only the contractual obligations.
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Page 20
Chapter 19: Corporations
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Sample Questions
Q1) A court will not pierce the corporate veil of a corporation simply because it is too thinly capitalized.
A)True
B)False
Q2) Not all directors have a right to access a corporation's books and records, facilities, and premises.
A)True
B)False
Q3) Daryl, Elsa, and Ferris are the directors of Go Apps, Inc. Go also has four officers and fourteen shareholders. Dividends can be ordered by the firm's A) board.
B) minority shareholders.
C) officers.
D) majority shareholders.
Q4) A director must abstain from voting on a proposed transaction in which he or she has a personal interest.
A)True
B)False
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