Business Ethics and Law Practice Exam
Course Introduction
Business Ethics and Law explores the foundational principles and contemporary issues at the intersection of ethical decision-making and legal frameworks in the business environment. The course examines key concepts such as corporate social responsibility, stakeholder theory, ethical theories, and compliance with regulatory standards. Students analyze real-world cases to understand how ethical considerations influence business strategy and operations, and how laws shape, constrain, and empower ethical business conduct. The curriculum emphasizes critical thinking, ethical problem-solving, and the development of strategies for managing legal and ethical risks in organizations operating in a global context.
Recommended Textbook
Legal Fundamentals for Canadian Business 3rd Edition by Richard A. Yates
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10 Chapters
1473 Verified Questions
1473 Flashcards
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Chapter 1: The Canadian Legal System
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) Ms.Jones was dissatisfied with the decision of the worker's compensation tribunal, feeling its decision may have been fair but that it did not take her personal objectives into consideration.She decided to ask for a court to review the decision, but her request was denied.Explain when courts will intervene in such situations. Answer: The Supreme Court of Canada has made it clear that considerable deference should be given to such regulatory bodies, and only rarely should the courts interfere with their decisions.The grounds for such interference have been reduced to "correctness" and "reasonableness." Correctness refers to the process and includes the tribunal having the authority (jurisdiction) and to the fairness of the process.The reasonableness standard means essentially that where the board has several different options, the choice made is reasonable.Where the board has several different options, and if the one chosen could be said to be reasonable, a reviewing court cannot substitute its own decision even if it determines it to be more reasonable than that of the board.
Q2) What types of cases are handled in small claims court?
Answer: The small claims court deals with civil actions where one party sues another for relatively small amounts of money.
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Page 3
Chapter 2: Torts and Professional Liability
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143 Verified Questions
143 Flashcards
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Sample Questions
Q1) Explain the difference between qualified and absolute privilege.
Answer: Where absolute privilege is involved, it doesn't matter what the motivation is, whether the person knew what he or she was saying was False, or how damaging the statement is.It is absolutely privileged and no defamation action can be taken.With qualified privilege, however, that privilege can be lost if it can be demonstrated that malice was intended in making the statement, that the statement was published too broadly, or that the person who made the statment did not believe it was true.
Q2) A person could commit a trespass even without coming onto your land.
A)True
B)False
Answer: True
Q3) Under what circumstances would one sue for nuisance?
Answer: This is a tort action available where property adjoining or nearby is used in such a way that it interferes with someone's enjoyment of their own property.For example, where noise, noxious fumes, water, toxic substances, etc., escape, making it difficult to enjoy your property, you would sue that adjoining property owner for private nuisance.
Q4) What is a tort?
Answer: <i>A tort is a civil or private wrong.</i>
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Page 4
Chapter 3: Formation of Contracts
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167 Verified Questions
167 Flashcards
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Sample Questions
Q1) Which one of the following will not end an offer?
A)The offeror communicates a revocation of the offer.
B)The offer is said to be open for three weeks and the three weeks expire.
C)The offeror sells the goods being offered to someone else.
D)The offeror dies.
E)The offeree makes a counter-offer.
Answer: C
Q2) Mary received a non-solicited selection of compact discs in the mail, with a letter informing her that she was now a member of the CD of the Month Club.It also said that if she didn't want these CDs, she could simply send them back; otherwise, she would be billed $10 for each CD at the end of the month.She put the CDs away, and did not respond.The club continued to send her CDs each month until she had received 100 of them over a period of 10 months.The club then sent her a letter demanding payment; otherwise, it would take legal action.Explain Mary's legal obligation in these circumstances.
Answer: There is no contract under these circumstances.Mary's silence was not an acceptance.Had she already joined the CD of the Month Club, however, and then failed to send back CDs she didn't want, she likely would have been liable because of the ongoing relation she had established.
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Chapter 4: Enforcing Contractual Obligations
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177 Verified Questions
177 Flashcards
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Sample Questions
Q1) A holder in due course is in the same position as the person from whom a negotiable instrument was received.
A)True
B)False
Q2) Randal embezzled $6000 of his employer's money and then disappeared.The employer's accountant called at Randal's residence and discovered that his wife had a $3500 term deposit.When the accountant threatened to have her husband arrested and imprisoned if she did not agree to sign over the deposit, she assigned the term deposit to the employer to help to defray the loss from the embezzlement.If the wife were later to sue for return of the term deposit, what would be her grounds for avoiding the assignment?
A)Mistake of law
B)Non est factum
C)Duress
D)Fraudulent misrepresentation
E)Undue influence
Q3) Define the term quantum meruit.
Q4) Explain what remedies are available to the victim where misrepresentation becomes a term of the contract.
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Chapter 5: Legislation in the Marketplace
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105 Verified Questions
105 Flashcards
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Sample Questions
Q1) Which of the following statements accurately states the law with respect to consumer transactions?
A)Where the court decides that a transaction was unconscionable, that transaction is unenforceable by the buyer.
B)Where a supplier engages in a deceptive or unconscionable act, he is neither subject to fines nor jail.
C)In most provinces, legislation makes false or misleading statements in advertising or made by a salesperson an unfair business practice, but this is not actionable as a breach.
D)In all consumer transactions, there is a cooling-off period of seven days in which the consumer can call off the deal.
E)In most provinces, legislation makes false or misleading statements in advertising or made by a salesperson a term of the contract and, therefore, actionable as a breach.
Q2) When a debtor voluntarily transfers her assets to a trustee in bankruptcy it is called an assignment in bankruptcy.
A)True
B)False
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Page 7
Chapter 6: Agency and Employment
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) Generally, a third party is bound to the principal only when it knows that the agent is acting for that principal.
A)True
B)False
Q2) Benefits such as payments for absences due to pregnancy and adoptions are administered through workers' compensation legislation.
A)True
B)False
Q3) Union employees have a legal obligation to honour (that is, to not cross) a properly constituted picket line during a lawful strike or lockout.
A)True
B)False
Q4) When an employee is dismissed for just cause, he or she is entitled to reasonable notice or pay in lieu of notice.
A)True
B)False
Q5) Explain how the principle of estoppel can be important in an agency relationship.
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Chapter 7: Methods of Carrying on Business
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174 Verified Questions
174 Flashcards
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Sample Questions
Q1) If a person wants to invest in a partnership but avoid the obligations associated with partnership, what can she do?
Q2) Which of the following will establish the existence of a partnership?
A)The goodwill portion of the sale of a business is repaid by a share of the profits.
B)An employee receives a profit-sharing bonus.
C)The beneficiary of a deceased partner takes that partner's share of the income from the partnership.
D)The parties intend to share the expenses of the business.
E)A debt is repaid by the creditor taking a share of the profits.
Q3) Explain how a person's status as a limited partner could be lost.
Q4) Dennis, Sam, George, and Ray were partners in an accounting business, and Ray decided he wanted to retire.He sold his share of the partnership to Leonardo, but Leonardo is not a partner unless the other partners approve the change.
A)True
B)False
Q5) The biggest issue for a sole proprietor is unlimited liability.
A)True
B)False
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Chapter 8: Property
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160 Verified Questions
160 Flashcards
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Sample Questions
Q1) Explain what is meant by a fee simple interest.
Q2) Explain what is meant by the equity of redemption in a mortgage transaction.
Q3) What is a surety bond?
Q4) Explain what is meant by a person obtaining a right of way by prescription.
Q5) If I grant my grandma a life estate and she asks about her rights and duties as a life tenant, which of the following is true?
A)If I make no indication of who the property is to go to when she dies, the property reverts back to my estate.
B)The life tenant, after 20 years, can establish an easement interest in the property.
C)The life tenant is not responsible to make repairs to keep the property in good condition, only the fee simple owner has that responsibility.
D)Grandma, as life tenant, holds a reversion interest in the property.
E)The life tenant can transfer the fee simple to someone in her will.
Q6) When a person has the right to go across land to get to another location, this is referred to as what?
Q7) What is meant by the term bailment?
Q8) Explain what is used as security in a mortgage transaction.
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Chapter 9: Ideas and Information
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131 Verified Questions
131 Flashcards
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Sample Questions
Q1) Joe wrote a short story that he was extremely proud of, brought it to you, and asked you how to go about having it copyrighted.What would be your answer?
Q2) The effect of an Anton Piller order is to:
A)Require the infringer to pay over any profits
B)Stop offending conduct after trial
C)Require the infringer to pay damages
D)Compensate the holder of copyright
E)Seize material from the suspected wrongdoer
Q3) Which of the following is true with regard to the law governing patents?
A)In exchange for the monopoly given under the Patent Act, the owner of the patent must disclose the invention in its entirety.
B)A patent will only be granted if the invention has been the subject of a publication of over one year prior to the application.
C)Generally, if a patent is developed by an employee, the employer has the right to obtain the patent.
D)An amendment to the Patent Act allows patent protection automatically.
E)Computer programs can only be copyrighted (i.e., they cannot be patented).
Q4) Distinguish between a trademark action and a passing-off action.
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Page 11
Chapter 10: Electronic Commerce and International Trade
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) With regards to the Customs Act, which of the following statements is true?
A)The main function of customs officials is to support Canadian businesses in developing foreign markets.
B)Export Development Canada enforces regulations regarding imports.
C)The Canadian Border Services Agency empowers customs officials to enforce regulations restricting what can be imported.
D)NAFTA and WTO regulations override any regulation as set out by the Customs Act.
E)Customs officials are empowered to enforce various regulations restricting the export of goods.
Q2) The term dumping refers to:
A)Buying goods from China and selling them in Walmart
B)Selling goods in a foreign nation at prices that unfairly compete with products manufactured in that market, usually due to subsidies, unusually low wages, or the sale of excess production
C)Selling goods produced in China at lower prices than domestically produced goods
D)Selling goods in a foreign nation at prices above the price sold domestically
E)Buying goods at low cost and selling them for a higher price domestically
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