Business and Society Question
Bank
Course Introduction
Business and Society explores the dynamic relationship between business organizations and the broader social environment in which they operate. The course examines how businesses influence and are influenced by ethical considerations, social responsibility, public policy, and stakeholder interests. Through case studies and theoretical frameworks, students will analyze the impact of corporate decisions on communities, the environment, and global society, and consider the evolving expectations of companies to balance profitability with social good. The course encourages critical thinking about the role of business in addressing contemporary challenges such as sustainability, diversity, and technological change.
Recommended Textbook
The Legal Environment of Business A Managerial Approach 1st Edition by Sean P. Melvin
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25 Chapters
2000 Verified Questions
2000 Flashcards
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Page 2
Chapter 1: Legal Foundations
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Sample Questions
Q1) Aggressive litigation generally results in a high monetary cost for a corporation.
A)True
B)False
Answer: True
Q2) States tend to amend their constitutions less frequently than is the case with the United States Constitution.
A)True
B)False
Answer: False
Q3) Legal Realism is the oldest form of American jurisprudence and was founded during the American Revolution and forms the basis for the United States Constitution.
A)True
B)False
Answer: False
Q4) ________ are recognized as binding between two parties even though no specific statute or regulation provides for the rights of the parties.
Answer: Private laws
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Chapter 2: Business and the Constitution
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Sample Questions
Q1) Mike is walking down the street minding his own business when he is stopped by a policeman.Although no crimes have been reported in the area and Mike has done nothing suspicious,the policeman doesn't like the looks of Mike so he conducts a pat down search and finds a tiny bag of marijuana.
A) under these circumstances this is an illegal search under Fourth Amendment protections
B) under these circumstances this is an illegal search under Fifth Amendment protections
C) under these circumstances this is a legal search because illegal drugs were found, justifying the policemen's actions
D) under these circumstances this is a legal search because police are given broad discretion to use their experience to fight crime and obviously the policeman was right in this case
Answer: A
Q2) Punitive damages are intended to punish wrongdoers in civil actions.
A)True
B)False
Answer: True
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Chapter 3: The American Judicial System,Jurisdiction,and Venue
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Sample Questions
Q1) Which of the following is not a component that needs to be shown to authorize use of a long-arm statute?
A) the defendant must transact business within the plaintiff's state borders
B) the defendant must have violated a plaintiff's state statutory law
C) the defendant must have committed negligence resulting in loss to the plaintiff within the plaintiff's state borders
D) the defendant owns property in the plaintiff's state
Answer: B
Q2) If an Oregon Corporation sues the Environmental Protection Agency,a federal administrative agency,they may sue in either an Oregon State court or in a federal district court located in Oregon.
A)True
B)False
Answer: False
Q3) When a Mississippi defendant does business or extensively advertises in Louisiana,they subject themselves to personal jurisdiction in Louisiana based on the concept of _______.
Answer: Minimum Contacts
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Chapter 4: Resolving Disputes: Litigation and Alternative
Dispute Resolution Options
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Sample Questions
Q1) At trial,the judge decides the facts and the jury decides the law.
A)True
B)False
Q2) Scoop Masters Inc.has been charged by Fab Flavors Corp.of stealing Fab Flavor's patented process for making ice cream.After the papers are filed,Scoop Masters begins shredding all documents pertaining to their ice cream making process.Since no motion has been made requesting production of documents,Scoop Masters has done nothing wrong.
A)True
B)False
Q3) Laura and Susan have had a motor vehicle accident and Susan has sued Laura claiming severe back injuries.If Laura wants to obtain a copy of Susan's doctor and hospital reports,she should serve a request for admissions to Susan.
A)True
B)False
Q4) A motion for a summary judgment may be filed by either the plaintiff or defendant. A)True
B)False
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Chapter 5: Business,Societal,and Ethical Contexts of Law
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Sample Questions
Q1) Sara is broke but needs a gown to go to a formal dance sponsored by her company.She goes to a local dress shop and purchases an expensive gown she cannot afford.She wears the gown to the event tucking in and hiding the price tag rather than removing it.She dances all night and the next day goes back to the shop and returns the dress.The store's policy is that they will accept returns for thirty days as long as the price tag is still attached.
A) Sara has not acted unethically because she complied with the store's policy
B) Sara has not acted unethically because she got the idea from an article in a magazine that said that celebrities do things like this all the time
C) Sara has not acted ethically because this is not an accepted act in the general society
D) Sara has not acted ethically if she returns the dress without cleaning it but has acted ethically if it is cleaned and sanitized before returning it
Q2) Arthur Andersen,as a result of its conviction following the Enron scandal,is now completely out of business.
A)True B)False
Q3) The notion of ________ is a central theme in Immanuel Kant's work.
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Chapter 6: Overview and Formation of Contracts
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Sample Questions
Q1) If an offer does not specify a required type or form of acceptance,the offeree is required to provide a written acceptance for valid mutual assent to be proven.
A)True
B)False
Q2) You arrive at your final exam for your law class and as you approach the door your professor is standing at the door with a sign saying,"THE COST FOR TAKING THIS TEST IS $10.00 PAYABLE TO ME" (the professor).Your professor is also holding a tin cup for students to place their cash and checks into.Speaking entirely from a contracts perspective,can your professor enforce such a fee? Explain fully.
Q3) According to the mailbox rule,a revocation is valid the moment that it is mailed. A)True
B)False
Q4) Generally,mutual mistakes will often lead to the court allowing an avoidance of a contract; however,a unilateral mistake is not usually grounds to cancel a contract.
A)True
B)False
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Chapter 7: Contract Performance: Conditions, Breach, and Remedies
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Sample Questions
Q1) Which of the following situations is a court most likely to find substantial performance?
A) KM Corporation orders 500 boxes of copy paper from MK supply, but MK can only deliver 450 boxes
B) Young orders a set of four specially made chrome rims for her car but the supplier can only deliver three
C) Olivia orders three gallons of paint to paint the exterior of her house based on square footage covered and needed but the paint supplier can only deliver two cans
D) April orders a fully equipped car from a dealer but although perfect in every way, the car delivered has an automatic transmission rather than the manual transmission that she ordered
Q2) Which of the following is rarely awarded in contracts cases?
A) consequential damages
B) compensatory damages
C) punitive damages
D) liquidated damages
Q3) In what way do legal remedies and equitable remedies differ?
Q4) A court order to refrain from performing a particular act is known as _______.
Page 9
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Chapter 8: Contracts for the Sale of Goods
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Sample Questions
Q1) Lon's GPS,Inc.orders 500 Class A widgets to be installed in GPS units they are manufacturing.When delivery is made on Monday,the widgets delivered are Class B. Lon's signs a receipt accepting the nonconforming shipment. The next day, Lon's installs some of the Class B widgets and finds that the Class B widgets perform with half the accuracy of the Class A widgets. What if any options does Lon's have?
In most cases when a shipment of nonconforming goods is accepted, the buyer may seek to adjust the price if applicable but they forfeit the right to subsequently reject the goods. In this situation however, the UCC provides that if nonconforming goods are accepted and the nonconformity is found to substantially impair the value of the goods, the buyer may in fact revoke acceptance if done within a reasonable time.
Q2) The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria except:
A) past commercial conduct.
B) industry standards or norms.
C) judicial input of any terms necessary to maintain fairness.
D) correspondence or verbal exchanges between the parties
Q3) A ________ is one that is regularly engaged in the sale of a particular good.
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Chapter 9: Torts and Product Liability
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Sample Questions
Q1) Product liability law arises from:
A) state statutes.
B) state common law.
C) both state statutes and state common law.
D) the Uniform Law of Product Liability as adopted by each of the states
Q2) The civil counterpart to theft is:
A) conversion.
B) trespass to chattels.
C) disparagement.
D) battery
Q3) In Palsgraf v.Long Island Railroad Co.,would the case have turned out differently had the package being held by the man being pulled onto the train been clearly and distinctively marked,"DANGER - EXPLOSIVES".Why or why not?
Q4) Under concepts articulated in McPherson v.Buick,a manufacturer of a defective product is only liable to the purchaser of the product and not to every user.
A)True
B)False
Q5) Explain what the reasonably prudent person standard is and how it applies to negligence.
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Chapter 10: Agency and Employment Relationships
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Sample Questions
Q1) Robert is a wealthy businessman who wishes to purchase a particular property.Realizing that the price might become inflated if his name is made known,he asks Faye to negotiate the purchase of the property on his behalf.Faye is the general manager of Robert's east coast operations.Faye reports directly to Robert and is supervised in all respects.Faye is told to tell Philip,the property owner,that she represents someone but she's told not to specify who she works for.The agency would be described as:
A) partially disclosed.
B) disclosed.
C) undisclosed.
D) indemnified
Q2) The manager at an apartment complex has no prior criminal record but has just been arrested for possession of child pornography.If he is convicted but given probation and not jailed,the apartment complex may be liable if they do not fire him and he later harms a child on the premises.
A)True
B)False
Q3) Liability involving one party's liability for another party's act is called ________ liability.
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Page 12
Chapter 11: Employment Regulation and Labor Law
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Sample Questions
Q1) The Fair Labor Standards Act requires that all workers be paid a minimum wage.
A)True
B)False
Q2) If a union chooses not to bring a grievance to arbitration,the individual union member always has the right to pursue the matter through a law suit to enforce union provisions.
A)True
B)False
Q3) Protection of employee medical information is addressed by the:
A) Health Insurance Portability and Accountability Act.
B) Consolidated Omnibus Budget Reconciliation Act.
C) Social Security Act.
D) Health Care and Education Reconciliation Act
Q4) Employees making complaints to the Occupational Safety and Health Administration are protected under the Occupational Safety and Health Act's whistle-blowing provisions.
A)True
B)False
Q5) Name and define three forms of illegal work stoppages which may be conducted by employees.
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Chapter 12: Employment Discrimination
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Sample Questions
Q1) The business necessity defense is a defense to:
A) disparate treatment cases.
B) sexual harassment cases.
C) unequal pay cases.
D) disparate impact cases
Q2) Disparate treatment is analyzed using the ________ standard.
Q3) Affirmative action sets and requires quotas in order to meet racial and sexual equality.
A)True
B)False
Q4) The most common form of sexual harassment is quid pro quo harassment.
A)True
B)False
Q5) The Americans with Disabilities Act defines a disability as being a physical impairment and does not include or protect employees regarding mental impairments.
A)True
B)False
Q6) What procedures or policies should employers implement to protect themselves from charges of discrimination even when firing an employee for misconduct?
Page 14
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Chapter 13: Choice of Business Entity, Sole Proprietorships,
and Partnerships
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Sample Questions
Q1) What process will the courts use to resolve a dispute between principals of a limited partnership in the absence of a written partnership agreement?
Q2) A sole proprietorship automatically is dissolved when the owner dies.
A)True
B)False
Q3) Which of the following is not an option available to a general partnership seeking capitalization?
A) borrowing money from one or more of the partners
B) selling the right to a percentage of the profits to an investor
C) selling ownership rights through the public markets
D) borrowing money from a commercial lender
Q4) One disadvantage of a sole proprietorship business entity is that it is restricted to the principal and the principal's immediate family in terms of number of employees that may work for the business.
A)True
B)False
Q5) General partnerships are not created by filing a form with a government agency.
A)True
B)False
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Chapter 14: Limited Liability Partnerships, limited Liability
Companies, and Other Business Arrangements
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Sample Questions
Q1) Personal financial contributions may be required by previous agreement with regard to:
A) LLCs.
B) LLPs.
C) business trusts.
D) franchisors
Q2) LLPs are often currently used to protect family businesses as a way to:
A) resolve management disputes.
B) resolve capitalization disputes.
C) resolve issues regarding transition from one generation to another.
D) resolve issues of family fiduciary duties and rights to represent and bind the business
Q3) Many states have eased filing requirements to create an LLC from requiring extensive amounts of information to now requiring minimal information similar to that required in a corporate filing.
A)True
B)False
Q4) Corporate tax structures result in ________ taxation.
Q5) ________ are those who start up an LLC initially.
Q6) Owners in an LLC are called _______.
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Chapter 15: Corporations
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Sample Questions
Q1) Kathy is the president of a corporation.She has just made the news by being discovered with a male prostitute while at a conference.Mike,a shareholder,may successfully present a proposal at the next shareholder meeting calling for a shareholder vote to have her removed from office.
A)True
B)False
Q2) The articles of incorporation for Pedal Power,Inc.have been approved and registered by the state.What needs to be done at the initial organizational meeting?
Q3) Courts are generally inclined to be predisposed to piercing the corporate veil whenever a corporation causes economic harm to others.
A)True
B)False
Q4) Which of the following is an incorrect statement regarding Subchapter S corporations?
A) they may issue only one class of stock
B) they may be domestic or foreign but cannot be alien
C) taxation is pass-through similar to partnership taxation
D) they may not have more than 100 shareholders
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Chapter 16: Regulation of Securities, corporate Governance, and Financial Markets
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Q1) Under the emergency escrow provisions created under the Sarbanes-Oxley Act:
A) the SEC may require corporate payouts into a government controlled emergency escrow fund after the SEC investigation has uncovered wrongdoing by the corporation.
B) the SEC may require corporate payouts into a government controlled emergency escrow fund during their investigation and before the SEC has uncovered wrongdoing by the corporation.
C) the PCAOB may require corporate payouts into a government controlled emergency escrow fund after the PCAOB investigation has uncovered wrongdoing by the corporation.
D) the PCAOB may require corporate payouts into a government controlled emergency escrow fund during their investigation and before the PCAOB has uncovered wrongdoing by the corporation
Q2) Preferred stock is the most frequently used form of equity instrument.
A)True
B)False
Q3) The SEC's computer data base which maintains the national clearinghouse for public corporation disclosures is known as _______.
Q4) Evidence of specific intent to deceive,manipulate or defraud is called _______.
Page 18
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Chapter 17: Administrative Law
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Sample Questions
Q1) The concept that in order to pass judicial muster,the evidence must show that the agency made its final decision based on a consideration of relevant factors without any clear errors of judgment is known as:
A) the arbitrary and capricious standard.
B) the Chevron test.
C) the logical outgrowth test.
D) the McDonnell-Douglas test
Q2) After a rule is published what is the next step in the rule making process?
A) enacted into law
B) rule goes back to committee for revisions
C) public comment
D) notice is given
Q3) The substantial evidence test is applied by the courts to determine whether or not the agency's actions were lawful with regard to investigations and licensing.
A)True
B)False
Q4) The Sunshine Act requires that consultation meetings are open to the public.
A)True
B)False
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Chapter 18: Environmental Law
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Sample Questions
Q1) The NEPA procedures require that an environmental assessment be performed for actions where:
A) the environmental impact is unknown.
B) the environmental impact is significant.
C) the environmental impact is little.
D) it is required in all instances
Q2) There is no federal requirement for businesses to disclose the presence of certain chemicals to their community.
A)True
B)False
Q3) The Safe Drinking Water Act (SDWA)sets standards that are different for different water systems.
A)True
B)False
Q4) The Clean Air Act (CAA)requires that ________ determine how to achieve the National Ambient Air Quality Standards (NAAQS).
Q5) Fixed site emitters of air pollutants are known as ________ sources of air pollution.
Q6) Discuss the purposes of environmental laws.
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Chapter 19: Antitrust and Regulation of Competition
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Sample Questions
Q1) Antitrust legislation was enacted in response to the robber barons of the late 18<sup>th</sup> century.
A)True
B)False
Q2) Horizontal restraints are restrictions on trade through an agreement with a _______ company.
Q3) Circumstantial evidence is not enough to show a meeting of the minds.
A)True
B)False
Q4) ________ is an agreement between competitors to divide up markets or geographic regions.
Q5) In U.S.v.Microsoft the appellate court found that:
A) Microsoft's business practices were a per se violation of the Sherman Act.
B) Microsoft illegally attempted to monopolize the browser market.
C) Microsoft did not employ illegal anticompetitive means to maintain and further their monopoly of the operating systems market.
D) Microsoft employed illegal anticompetitive means to maintain and further their monopoly of the operating systems market
Q6) A _______ is a concerted refusal to deal with a third party.
Page 21
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Chapter 20: Creditors Rights and Bankruptcy
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Sample Questions
Q1) Filing a statement of notice with a state government is one way to perfect a security interest.
A)True
B)False
Q2) What has Congress done to try to prevent individuals from abusing bankruptcy protections?
Q3) Discuss the differences between Chapters 7 and 11 bankruptcy proceeding.
Q4) Nora loaned money to Susan and received a signed security agreement from Susan.What could Nora do to make sure she has priority as a creditor?
A) give the security agreement to her attorney
B) nothing, the date of signing gives Nora priority
C) file the security agreement in a security deposit box
D) take possession of the collateral
Q5) What is the standard that an individual must meet in order to file for Chapter 7 bankruptcy?
A) means test
B) threshold level of debt
C) length of time of debt
D) attempts to repay under Chapter 13
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Chapter 21: Consumer Protection Law
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Sample Questions
Q1) What is the name of the legislation enacted in response to injuries and death from products being sold to consumers?
A) Federal Product Act
B) Food, Drug and Cosmetic Act
C) Product Liability and Safety Reform Act
D) Consumer Product Safety Act
Q2) Saying that "this car is the ultimate driving experience" is an example of puffery.
A)True
B)False
Q3) Individual consumers may bring an action against a collection agency for damages suffered by collections efforts.
A)True
B)False
Q4) If Annie borrows money to pay for her kitchen upgrades from her aunt Bethany,Bethany does not need to provide required disclosures under the Truth in Lending Act.
A)True
B)False
Q5) What is the primary purpose of the Truth in Lending Act?
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Chapter 22: Criminal Law and Procedure in Business
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Q1) The Insider Trading and Securities Fraud Enforcement Act created substantial civil penalties but no criminal penalties for those committing insider trading violations.
A)True
B)False
Q2) If business records can be proven to be private papers the records may be protected from seizure under the Fifth Amendment right against self incrimination by sole proprietors.
A)True
B)False
Q3) If the criminal trial results in a verdict of not guilty,the government may retry case again because the government always gets one appeal.
A)True
B)False
Q4) What effect has mandatory sentencing guidelines had on the judiciary and criminal punishment in general?
Q5) A court order authorizing an official to do something the official would otherwise be prohibited from doing is called a _____.
Q6) What are the three purposes or aims of imposing punishment for criminal acts?
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Chapter 23: Personal Property, Real Property, and Land Use Law
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Q1) Manny,Moe and Jack are hunters.In 1990 they discovered what appeared to be a deserted hunting lodge in the woods.The lodge had no indoor plumbing,no running water and no heating system other than a fire place.The building is a one mile hike from the nearest road.Each year since 1990,they have returned to the lodge and used it as a base during the deer and elk hunting seasons which occur in the fall and winter months.They spend a total of six weeks a year using the lodge.They have cleaned the place up,cut and stacked firewood and even stored clothing inside when they weren't there.The owner of the lodge has noticed the stacked firewood but hasn't traveled to the lodge during hunting season to find out who is using the property even though he is disturbed that the property is being used without his permission.After the statutory period has run,have Manny,Moe and Jack acquired title to the property?
Q2) A piece of personal property affixed to real property is called a ______.
Q3) In the event that a tenant breaches a duty owed under a lease,what are the possible remedies that may be available to the landlord?
Q4) The common law held that property owners own the rights to the air and light for up to one hundred feet above their property.
A)True
B)False
Page 25
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Chapter 24: Intellectual Property
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Q1) Which of the following would generally not be patentable?
A) a mathematical formula that allows one to calculate the gross national product
B) a new business method that streamlines and improves production
C) a business process that changes water into wine
D) an engine that runs on water
Q2) A telephone book listing citizens' names,addresses and phone numbers may not be copyrighted.
A)True
B)False
Q3) Which of the following is not eligible for immediate trademark protection?
A) fanciful trademarks
B) descriptive trademarks
C) arbitrary trademarks
D) suggestive trademarks
Q4) Suggestive trademarks only gain trademark protection if they have acquired a secondary meeting.
A)True
B)False
Q5) "Snapple" is an example of a/an ________ trademark.
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Chapter 25: International Law and Global Commerce
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Q1) Common law jurisdictions adhere to the concept of ________ whereby a court may strike down a piece of legislation if it violates an overriding principle of law.
Q2) Under the concept of sovereign immunity,a foreign country is exempt from jurisdiction in the U.S.courts.
A)True
B)False
Q3) Countries that follow the common law system include the U.S.,Canada,Australia,and most of Latin America.
A)True
B)False
Q4) The right of a buyer for a seller to cure any problems with the goods ends when the performance period is through under UNCISG.
A)True
B)False
Q5) International Chamber of Commerce terms and abbreviations are usually used in conjunction with UNCISG.
A)True
B)False
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