Business Law and Ethics Question
Bank
Course Introduction
Business Law and Ethics is an essential course that explores the legal environment in which businesses operate and the ethical considerations that influence decision-making. The course examines foundational topics such as contracts, torts, agency, employment law, business organizations, and intellectual property. It also delves into ethical frameworks and principles to help students recognize and analyze ethical dilemmas in the business context. Through case studies, discussions, and practical examples, students develop the skills to identify legal risks, apply the law to real-world scenarios, and make responsible choices in managerial roles.
Recommended Textbook
The Legal Environment of Business Text and Cases 8th Edition by Frank B. Cross
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35 Chapters
1251 Verified Questions
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Chapter 1: Business and Its Legal Environment
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Sample Questions
Q1) The Federal Trade Commission is a government agency that issues rules,orders,and decisions.The Georgia state legislature enacts statutes.The Jackson County Board and the Peach City Council enacts ordinances.Administrative law includes
A)all law that affects a business's operation.
B)the rules,orders,and decisions of the Federal Trade Commission.
C)statutes enacted by the Georgia state legislature.
D)ordinances created by the Jackson County Board and the city council of Peach City,Georgia.
Answer: B
Q2) In an action against Elin,Frank obtains a remedy.This is
A)an administrative agency's enforcement of its rule.
B)a principle of the law derived from earlier court cases.
C)a statute enacted by a state legislature or Congress.
D)the legal means to recover a right or to redress a wrong.
Answer: D
Q3) The stability and predictability of the law is essential to business activities.
A)True
B)False
Answer: True
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Page 3
Chapter 2: The Court System
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Sample Questions
Q1) Generally,lawyers are required to represent people in small claims courts.
A)True
B)False
Answer: False
Q2) In Recycle Cafe's suit against Sanitary Services,Inc. ,the court issues a judgment in Recycle's favor.The judgment can be appealed to an appropriate court of appeals by A)neither party.
B)Recycle only.
C)Recycle or Sanitary.
D)Sanitary only.
Answer: C
Q3) During a trial in Gene's suit against Homer over the use of Gene's lakeside cabin,Gene's attorney asks questions of the plaintiff's witness Illya.This is A)a cross-examination.
B)a deposition.
C)a direct examination.
D)an interrogatory.
Answer: C
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Chapter 3: Alternative and Online Dispute Resolution
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Sample Questions
Q1) The federal government enforces agreements to arbitrate disputes between private parties.
A)True
B)False
Answer: True
Q2) Most online dispute resolution services apply general,universal legal principles to resolve disputes.
A)True
B)False Answer: True
Q3) Alternative dispute resolution refers to any method for resolving a dispute outside the court system.
A)True
B)False
Answer: True
Q4) Virtually any dispute can be the subject of arbitration.
A)True
B)False Answer: True
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Chapter 4: Ethics and Business Decision Making
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Sample Questions
Q1) Business ethics is consistent only with short-run profit maximization.
A)True
B)False
Q2) Lyle,vice-president of sales for Mi-T Electric,Inc. ,adheres to Judeo-Christian religious ethical standards.With respect to their application,these standards are A)absolute.
B)analytical.
C)discretionary.
D)utilitarian.
Q3) It may be unethical for a company with a product that is outlawed in one country to look elsewhere for a market.
A)True
B)False
Q4) Ethical reasoning is the process through which an individual rationalizes whatever action he or she chooses to take.
A)True
B)False
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Chapter 5: Constitutional Law
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Sample Questions
Q1) Parker owns and operates Rancho Mirage Corporation,a destination resort in Arizona that features horseback riding and bunkhouse accommodations.The Constitution provides that no person shall be deprived of "life,liberty,or property without due process of law." Included as "legal persons" under this clause are
A)the bunkhouses and other "manmade creations."
B)the corporation and Parker.
C)horses and other "beings in nature."
D)none of the choices.
Q2) A law that regulates economic matters violates the equal protection clause.
A)True
B)False
Q3) The establishment clause of the U.S.Constitution prohibits the federal government from promoting a religion.
A)True
B)False
Q4) A law that has any impact on religion is unconstitutional.
A)True
B)False
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Chapter 6: Administrative Law
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Sample Questions
Q1) The U.S.Fish and Wildlife Service uses notice-and-comment rulemaking.This involves a period during which
A)judges,legislators,and the president are asked about a proposed rule.
B)potential violators of a proposed rule are notified and publicized.
C)the administrators "notice" a problem and "comment" on it.
D)the public is asked to comment on a proposed rule.
Q2) The federal government must disclose certain records to any person or entity on written request only if there is a rational reason for the request.
A)True
B)False
Q3) An agency must conduct a regulatory flexibility analysis whenever a new regulation will have an impact on a "small number of substantial entities."
A)True
B)False
Q4) Independent regulatory agencies such as the Federal Trade Commission are
A)not part of the government's executive branch.
B)outside the major departments of the government's executive branch.
C)subagencies of executive agencies.
D)subject to more executive authority than executive agencies.
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Chapter 7: Criminal Law and Cyber Crime
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Sample Questions
Q1) A person's intent to return embezzled property is a defense to the crime of embezzlement.
A)True
B)False
Q2) A wrongful mental state is typically required for criminal liability.
A)True
B)False
Q3) Ollie,an employee of Payroll Management Corporation,is arrested at work.A grand jury issues a formal charge against Ollie for larceny.This charge is
A)an arraignment.
B)an indictment.
C)an information.
D)an inquisition.
Q4) It may be a crime to take another's property,but it is not a crime to receive stolen goods.
A)True
B)False
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Chapter 8: International Law in a Global Economy
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Sample Questions
Q1) Wang Ltd. ,a Chinese firm,imports its goods into the United States and offers those goods for sale at "less than fair value." This is A)confiscation.
B)defalcation.
C)dumping.
D)expropriation.
Q2) Congress cannot impose any restrictions on exports except taxes. A)True B)False
Q3) Restrictions on imports may include quotas. A)True B)False
Q4) A foreign citizen can bring a civil suit in a U.S.court for a violation of a treaty of the United States.
A)True B)False
Q5) A party to a licensing agreement generally agrees to pay royalties on some basis. A)True B)False
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Chapter 9: Contract Formation
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Sample Questions
Q1) Grande Properties,Inc. ,and Investment Capital Corporation enter into a contract for a sale of land.To be enforceable,the contract must be in writing if the land is valued at
A)more than $500.
B)more than $5,000.
C)more than $50,000.
D)any price.
Q2) A contract to do something that is prohibited by statutory law is void.
A)True
B)False
Q3) Lyra induces Moe to enter into a contract for the sale of an apartment about which Lyra fraudulently misrepresents a number of material facts.Lyra tells Moe that her commission is 6 percent,but their signed,written contract states "12 percent." The Statute of Frauds governs
A)contracts that are induced by fraud.
B)contracts that must be in writing to be enforceable.
C)the admissibility in court of oral evidence.
D)the reformation of oral and written statements into one contract.
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Chapter 10: Contract Performance,breach,and Remedies
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Sample Questions
Q1) Lester and Myrtle want to rescind their contract under which Lester sold an MP3 player for $40.To rescind the contract
A)Lester must return the $40 and Myrtle must return the player.
B)Lester must return the $40 only.
C)Myrtle must return the player only.
D)the parties can keep the "benefits" of their bargain.
Q2) A party who knowingly accepts defective performance of a contract waives the breach.
A)True
B)False
Q3) Development Associates (DA)agrees to buy five acres of land from Eastside Properties for $15,000.Eastside fails to go through with the deal on the agreed date,when the market price of the land is $17,000.DA may recover
A)$17,000.
B)$15,000.
C)$2,000.
D)$0.
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Page 12
Chapter 11: Sales,leases,and E-Contracts
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Sample Questions
Q1) In most sales,sellers warrant that they have good and valid title to the goods sold.
A)True
B)False
Q2) If a buyer accepts a shipment of goods and later discovers a defect,acceptance can be revoked.
A)True
B)False
Q3) Fresh Harvest,Inc. ,agrees to sell to Gina's Bed & Breakfast Inn a certain amount of locally grown produce each week but no mention is made of where the goods are to be delivered.In general,the UCC requires that the delivery take place at
A)a neutral place of business halfway between the parties' locations.
B)a "reasonable" place of delivery.
C)Fresh Harvest's place of business.
D)Gina's place of business.
Q4) Under federal law,an electronic signature can be as valid as a signature on paper.
A)True
B)False
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Chapter 12: Torts and Cyber Torts
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Sample Questions
Q1) From a location in Asia,Basil sends spam to U.S.e-mail addresses touting a variety of deceptive scams in an attempt to dupe unwitting recipients into revealing their bank account and credit card numbers.Under the U.S.Safe Web Act,the Federal Trade Commission can
A)authorize the scamming of citizens in Asia.
B)do nothing.
C)share information with foreign agencies to investigate and prosecute.
D)undertake secret activities to destroy Asian servers.
Q2) Great Tans,Inc. ,uses,in its radio ads,a recording by Holly,who owns the rights,without paying for the use.Over time,the song comes to be associated with Great Tans.In Holly's suit against Great Tans,the firm is most likely liable for A)appropriation.
B)conversion.
C)wrongful interference with a customary relationship.
D)no tort.
Q3) The doctrine of res ipsa loquitur applies if an event causing harm does not normally occur in the absence of negligence.
A)True
B)False
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Page 14
Chapter 13: Strict Liability and Product Liability
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Sample Questions
Q1) Eva owns Fast-Rate Salvage,a demolition company.A demolition by a Fast-Rate crew injures Glen,a passerby.Under the theory of strict liability,Eva must pay for Glen's injury
A)only if Glen's injury was not reasonably foreseeable.
B) only if Glen's injury was reasonably foreseeable.
C)only if the Fast-Rate crew was at fault.
D)whether or not the Fast-Rate crew was at fault.
Q2) Sellers or lessors are liable only for products that are reasonably dangerous. A)True
B)False
Q3) Under the doctrine of strict liability,liability is imposed strictly according to fault. A)True
B)False
Q4) Delta Company makes and sells table saws,which are designed to be safe if used properly.Erin buys a Delta saw and lends it to her neighbor Frank.To reach a toolbox on a high shelf in his garage,Frank props the saw at an angle against a cabinet and climbs onto the saw.Frank loses his footing,slips off the saw,falls on the blade,and is injured.He files a product liability suit against Delta,on the ground of negligence.On what basis could Delta prevail
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Page 15
Chapter 14: Intellectual Property and Internet Law
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Sample Questions
Q1) Sights Unseen,Inc. , (SUI)sells scopes with distinctively designed and made lenses and mirrors to scientists.Telescopes,Etc.Corporation later begins to sell scopes with identical set-ups of lenses and mirrors,without SUI's permission,to consumers.This is most likely
A)copyright infringement.
B)patent infringement.
C)trademark infringement.
D)none of the choices.
Q2) A marketing technique can be a trade secret.
A)True
B)False
Q3) Sincere Forms,Inc. ,uses,in its ads,a trademark that is similar,but not identical,to the famous,registered mark of Desired Objects,Inc.Sincere's unauthorized use of the mark constitutes trademark dilution provided
A)consumers are confused.
B)Sincere and Desired are competitors.
C)Sincere's use is intentional.
D)Sincere's use lessens the value of Desired's mark.
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Chapter 15: Creditor-Debtor Relations and Bankruptcy
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Sample Questions
Q1) A homestead exemption allows a debtor to subtract the value of the family home from the amount of a debt.
A)True
B)False
Q2) Current City (CC)is a retail seller of television sets.CC sells Dhani a $5,000 large-screen,high-definition,plasma set on a retail installment security agreement in which he pays $100 down and agrees to pay the balance in equal installments.CC retains a security interest in the set,and perfects that interest by filing a financing statement centrally.Two months later,Dhani is in default on the payments to CC and is involuntarily petitioned into bankruptcy by other creditors.Discuss CC's right to repossess the TV set and whether CC has priority over the trustee in bankruptcy to any proceeds from the disposal of the set.
Q3) One of the primary effects of a discharge is to relieve the liability of a co-debtor.
A)True
B)False
Q4) Certain debtors may not qualify to have all debts discharged in bankruptcy.
A)True B)False
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Page 17
Chapter 16: Mortgages Foreclosures After the Recession
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Sample Questions
Q1) Hubert borrows $100,000 from Integrity Mortgage Mart to buy a home.Soon after obtaining the mortgage,Integrity convinces Hubert to refinance.This is
A)a short sale.
B)a subprime mortgage.
C)loan flipping.
D)steering and targeting.
Q2) A lender can make a higher-priced mortgage loan based on the value of the consumer's home without verifying the consumer's other credit obligations.
A)True
B)False
Q3) The loan that a lender provides to enable a borrower to purchase real property is a mortgage.
A)True
B)False
Q4) Federal mortgage disclosure requirements apply to the written materials that a lender provides and to any oral representations.
A)True
B)False
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Chapter 17: Sole Proprietorships, franchises, Partnerships
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Sample Questions
Q1) Laws governing franchising are designed in part to prevent franchisors from terminating franchises without good cause.
A)True
B)False
Q2) Real Events Promotion Corporation licenses trademarks to Stadium Souvenirs,Inc. ,to use in selling caps,sweatshirts,and similar goods.This is
A)a franchise.
B)an entrepreneur.
C)a principal-agent relationship.
D)a sole proprietorship.
Q3) Echo enters into an agreement with Deep Pan Pies,Inc. ,to operate a franchise in Centre City.Later,Deep grants franchises to others within the city.Echo files a suit to close them.If the court rules in Echo's favor it will most likely be on the ground that
A)Deep violated the antitrust laws.
B)Deep violated the implied covenant of good faith and fair dealing.
C)Echo paid a franchise fee.
D)Echo was the first Deep franchisee in Centre City.
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Chapter 18: Limited Liability Companies and Limited Partnerships
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Sample Questions
Q1) A general partner has the power to dissociate from a limited partnership regardless of what the partnership agreement specifies.
A)True
B)False
Q2) Jack and Kyra are partners in Law Firm,LLP,a limited liability partnership.Jack supervises Kyra,who negligently fails to appear in court on behalf of Milo,a client.Liability to Milo rests with
A)Jack and Kyra.
B)Jack only.
C)Kyra only.
D)neither Jack nor Kyra.
Q3) Flip is a member of Great States Trucking LLC.Flip's relationship to Great States ends,but the firm continues to do business.This is
A)dissociation.
B)dissolution.
C)winding up.
D)wrongful.
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Page 20
Chapter 19: Corporations
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Sample Questions
Q1) Officers hire the directors and other executive employees.
A)True
B)False
Q2) Gladys is a shareholder of Frozen Yogurt,Inc.As a shareholder,Gladys must approve
A)amending the bylaws.
B)declaring a corporate dividend.
C)hiring a chief executive officer.
D)issuing additional shares.
Q3) An agreement between shareholders to restrict the transfer of a closely held corporation's stock is illegal.
A)True
B)False
Q4) Skyla and Terry want to form and do business as Unbound Games Corporation.Most statutes governing the formation and use of corporations are guided by A)city or county corporate codes.
B)the Entrepreneur's Corporate Handbook.
C)the federal Administrative Procedure Act.
D)the Revised Model Business Corporation Act.
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Chapter 20: Agency
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Sample Questions
Q1) Glen is an agent for Hi-Flite,Inc.On Hi-Flite's behalf and at its request,Glen pays Ian for certain plane maintenance and repair services.Glen's right to obtain the amount of those payments from Hi-Flite arises under the principal's duty of A)avoidance.
B)cooperation.
C)indemnification.
D)reimbursement.
Q2) Omar hires Petra,a real estate broker,to act as his agent to sell his land for $150,000.Oil is discovered beneath the land,causing its market value to increase considerably.The agency agreement is likely
A)still in force if Omar gives Petra additional consideration.
B)still in force if Petra does not tell prospective customers.
C)terminated by mutual consent of the parties.
D)terminated by operation of law.
Q3) A principal who authorizes an agent to commit a tort is not liable to persons or property injured thereby.
A)True
B)False
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Chapter 21: Employment Relationships
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Sample Questions
Q1) Children under fourteen years of age are not allowed to work.
A)True
B)False
Q2) Carla,a waitress at Diners Coffee Shop,notices that the kitchen staff is not wearing protective gloves while preparing food,a violation of state law.Carla reports this to Esau,her manager,but no steps are taken.Carla then tells Free Press,a local newspaper.Free Press runs a story on the violations.Business at Diners drops 65 percent.Can Diners fire Carla for these actions
Q3) Only state law governs drug tests of private-sector employees.
A)True
B)False
Q4) Normally,if employees are informed that their communications are being monitored,they cannot expect those communications to be private.
A)True
B)False
Q5) Generally,under employment-at-will doctrine,an employer may fire an employee at any time for any reason.
A)True
B)False
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Chapter 22: Employment Discrimination
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Sample Questions
Q1) Disparate-impact discrimination occurs when a protected group of people is adversely affected by an employer's practices,even though they do not appear to be discriminatory.
A)True
B)False
Q2) Conrad and Delilah are employees of AgriBio Feed & Seed Corporation.Under the Equal Pay Act of 1963,AgriBio can legitimately pay different wages on the basis of A)seniority.
B)job descriptions.
C)substantial equality of skill,effort,and responsibility. D)gender.
Q3) Federal law does not prohibit discrimination on the basis of gender in assessing an employee's education,training,or experience.
A)True
B)False
Q4) The Civil Rights Act of 1964 does not prohibit job discrimination in the hiring process. A)True
B)False
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Page 24
Chapter 23: Immigratiion and Labor Law
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Sample Questions
Q1) David's family came to the United States from Ukraine in 1895.Eva's family came to this country from Venezuela in 1995.Fiona's family came from Mexico in 2005.Current immigration laws are based on
A)a national origin quota system proportional to the 1890 census.
B)a racial quota system proportional to numbers updated periodically.
C)a system of sanctions against employers who hire illegal immigrants.
D)the exclusion of convicts and prostitutes.
Q2) A closed shop is a workplace that rejects union membership as a condition of employment.
A)True
B)False
Q3) Machine Operators Union is engaged in collective bargaining with Natural Coffee Roasters,Inc.(NCR).The employer must bargain over
A)the decision to relocate a facility if it changes the scope of NCR.
B)the decision to relocate a facility if the labor costs are not a factor.
C)the hiring of unnecessary excess workers.
D)the price of food in NCR's employees' cafeteria.
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Chapter 24: Consumer Protection
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Sample Questions
Q1) Labels on fresh meat must indicate where the food originated.
A)True
B)False
Q2) Creditors attempting to collect debts are generally considered to be debt-collection agencies.
A)True
B)False
Q3) In the ordinary course of business,Xtra Credit Company sells goods to Yvon and other consumers on credit under installment sales contracts that typically require at least one year of monthly payments.Xtra does not disclose all of the credit terms to its customers.This is most likely to result in
A)a cease-and-desist order.
B)a fine.
C)no sanctions.
D)rescission of the contracts.
Q4) A sanction known as counteradvertising requires a company to advertise the products of its competitor to counter its own false claims.
A)True
B)False
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Chapter 25: Environmental Law
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Sample Questions
Q1) Industry Processes Corporation generates solid waste considered hazardous.Industry labels and packages properly all waste to be transported to a disposal site.Under the Resource Conservation and Recovery Act,this is most likely A)not a violation.
B)a violation because Industry generates solid waste.
C)a violation because the waste is transported off-site.
D)a violation because the waste is considered hazardous.
Q2) An environmental impact statement is required for every major federal action that significantly affects the quality of the environment.
A)True
B)False
Q3) The government can recover the cost to clean up a hazardous waste disposal site from the persons who were even remotely responsible.
A)True
B)False
Q4) Any point source emitting pollutants into water must have a permit.
A)True
B)False
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Chapter 26: Real Property Land-Use Control
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Sample Questions
Q1) Klondike and Leola own 10,000 shares of stock in My-T Gro Corporation.On the death of ether owner,that owner's interest in the stock passes to the surviving owner.This is
A)a joint tenancy.
B)a life estate.
C)a tenancy in common.
D)ownership in fee simple absolute.
Q2) Zoning restrictions are absolute.
A)True
B)False
Q3) Mello Farms,Inc. ,wants to add a covenant to run with the land to its conveyance of some of its property to New Commodities,Inc.To be enforceable,this covenant must A)be conveyed for "just compensation."
B)include a burden that has a connection to the property.
C)substantially alter the essential character of the property.
D)all of the choices.
Q4) The Constitution limits the exercise of the power of eminent domain.
A)True
B)False
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Chapter 27: Antitrust and Monopoly
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Sample Questions
Q1) Rainey sells his Solar Bike Shop to Thelma and promises not to open a competing business within a five-mile radius for five years.The promise is
A)enforceable,because it was given to facilitate the sale of the business.
B)enforceable,because the parties freely agreed to it.
C)unenforceable,because it is a restraint of trade.
D)unenforceable,because it is too broad.
Q2) Helio Company can process hydrogen into an inexpensive fuel for internal combustion engines.As an innovator in its market,Helio currently has the power to affect the price of its product.This is
A)market power.
B)predatory pricing.
C)price discrimination.
D)price-fixing.
Q3) Futuro Products,Inc. ,has exclusive control over the market for its product.Futuro's market power is subject to evaluation under
A)the Clayton Act.
B)the Federal Trade Commission Act.
C)the Interstate Commerce Act.
D)the Sherman Act.
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Page 29
Chapter 28: Antitrust and Restraints of Trade
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Sample Questions
Q1) Indigo Packaging,Inc. ,a manufacturer of packaging papers and boxes,refuses to sell to Jiffy Quik,Inc. ,a delivery service firm.Indigo convinces Knotty Box Company,a competitor,to do the same.This is
A)a group boycott.
B)an exclusive-dealing contract.
C)a price-fixing agreement.
D)a tying arrangement.
Q2) Engine Components,Inc. ,a manufacturer of vehicle parts,refuses to sell to Fix-It,Inc. ,a national vehicle service firm.Engine Components convinces Greasy Motor Parts Company,a competitor,to do the same.This is
A)a group boycott.
B)an exclusive-dealing contract.
C)a price-fixing agreement.
D)a tying arrangement.
Q3) Under an exclusive-dealing contract,a seller promises a buyer a certain territory in which the buyer will have no direct competition.
A)True
B)False
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Chapter 29: Investor Protection and Corporate Governance
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Q1) Flux Corporation is a public company whose shares are traded in the public securities markets.Under the Sarbanes-Oxley Act of 2002,Flux is subject to the direct corporate governance requirements of
A)any other public company with which Flux exchanges shares.
B)any state in which Flux does business.
C)the federal government.
D)the state in which Flux incorporated.
Q2) The Securities and Exchange Commission administrative law judges hear cases involving alleged securities law violations.
A)True
B)False
Q3) Players Video Game Centers,Inc. ,wants to issue stock of $1 million in a single offering.Players must provide all investors with material information about itself,its business,and its securities if
A)all investors are accredited.
B)under any circumstances.
C)any investors are accredited.
D)any investors are unaccredited.
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Chapter 30: Part I: The Foundations
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Q1) Mike casts unwarranted doubts on Nina,a co-worker,to gain a job promotion.This is unethical
A)only if Mike is caught.
B)only if Mike gets the promotion.
C)under any circumstances.
D)under no circumstances.
Q2) Doug signs a contract to buy a cell phone and minutes from EquiTel Corporation.The contract provides that any dispute between the parties is subject to arbitration.When a dispute arises,Fabian agrees to serve as the arbitrator.Because Fabian would also like to resolve subsequent disputes,it is possible that he may be reluctant to rule against A)Doug.
B)EquiTel.
C)either party.
D)the common law.
Q3) Ethical behavior on the part of Plastics Products Company may be inhibited by A)clear ethical standards.
B)collective decision making.
C)legislative determinations of what represents society's best interest.
D)managers' dissent to unethical decisions.
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Page 32
Chapter 31: Part II: The Public and International Environment
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Q1) Omni Oil,Inc. ,a Delaware firm,wants to use its corporate resources to influence the political process with respect to issues that do not relate to its business.Delaware attempts to block this use of resources.In a challenge to Delaware's action,under the First Amendment the most important question is whether
A)Omni and other corporations are protected by the free speech clause.
B)Omni should leverage political power through its economic skills.
C)Omni's speech is political in nature.
D)Omni's speech relates to an economic matter.
Q2) Pitter Pater Corporation is a U.S.firm that does business internationally.Among the ethical challenges facing Pitter Pater and other firms is the role of women because some countries
A)accept any professional role for women.
B)expect any professional role for women.
C)protect any professional role for women.
D)reject any professional role for women.
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33
Chapter 32: Part III: The Commercial Environment
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Q1) Iowa enacts a statute that requires a label on a video game to warn parents when "the range of options available to a player include killing and maiming the image of a human being." Gamemakers file a suit against the state to block the statute's enforcement.Based on the decision of a California court in a case involving a similar statute,the court in this case is most likely to rule that the statute
A)extends restrictions on sex-based content to violence in video games.
B)violates the First Amendment's guarantee of freedom of speech.
C)imposes market-share liability on makers of violent video games.
D)replaces the voluntary rating system currently in use.
Q2) Bonnie contracts to deliver a crop of soybeans to Farmers Co-op.A tornado destroys the crop on her farm.The buyer insists that she deliver by acquiring soybeans on the open market.She claims that this is prohibitively expensive.Her best argument against enforcing the contract is
A)frustration of purpose.
B)objective impossibility of performance.
C)anticipatory repudiation.
D)commercial impracticability.
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Page 34
Chapter 33: Part IV: The Business Environment
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Q1) Beyond Gamez,Inc. ,a video game retailer based in California,does business in all fifty states exclusively online.According to New York state tax law,an out-of-state online retailer must collect and remit state taxes to New York if the retailer
A)plans to establish a substantial physical presence in New York.
B)targets a potential marketing base in New York.
C)maintains a Web site accessible in New York.
D)pays a party within New York to solicit business for its products.
Q2) Twisted Dipsy Pretzels Inc.offers entrepreneurs the opportunity to operate a franchise under the Twisted Dipsy trade name as a member of a select group of dealers that engage in the retail pretzel-concession business.To potential investors,Twisted Dipsy makes earnings claims.For those claims,the franchisor must have
A)a hypothetical basis.
B)a reasonable basis.
C)an actual basis.
D)no basis.
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Chapter 34: Part V: The Employment Environment
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Q1) AgriEquip Service & Supply,Inc. ,sends Merilyn an e-mail in which AgriEquip offers to employ her for certain hours and a specific amount of money over a limited period of time.She responds with a counteroffer that reduces the hours and increases the money.AgriEquip e-mails an acceptance.Merilyn performs,but AgriEquip refuses to pay.She files a suit against AgriEquip for breach of contract.The court is most likely to rule that the e-mail
A)showed only an agreement to agree.
B)was an agreement to the essential terms of an employment contract.
C)constituted an unenforceable,non-existent contract.
D)contained a contract but is unenforceable because it is electronic.
Q2) Desmond is Cassandra's agent.Despite ethical concerns,Cassandra's legal duties to Desmond do not include A)compensation.
B)cooperation.
C)loyalty.
D)reimbursement.
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Chapter 35: Part VI: The Regulatory Environment
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Q1) Pinpoint Marketing,Inc.(PMI),a credit-reporting agency,sells data about consumers to merchants and others.Consumers have some recourse if PMI
A)realizes a profit from the sales.
B)sells data about consumers who request to be "blacklisted."
C)does not report the data accurately.
D)does not tell consumers when the data is sold.
Q2) Cool Corporation makes energy-saving air conditioning units.Cool anticipates a change in the demand for its products as a consequence of climate change.One argument in favor of requiring Cool to disclose this information is that it could lead to
A)additional protections under the Sarbanes-Oxley Act of 2002.
B)an increase in the number of shareholder suits against competitors.
C)sound investment decisions by investors.
D)the conversion of Cool from publicly held to privately held.
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