Business Law
Exam Review
Course Introduction
Business Law is an essential course that introduces students to the legal principles and regulations that govern commercial transactions and business organizations. The course covers topics such as contract law, agency, sales of goods, negotiable instruments, employment law, and the formation and dissolution of business entities like partnerships and corporations. Students will gain an understanding of how legal concepts apply to everyday business situations, the rights and obligations of parties in business relationships, and the significance of regulatory compliance. The course equips learners with the knowledge to identify potential legal issues in business practices and equips them with decision-making skills to navigate the legal aspects of the business environment.
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
1251 Flashcards
Source URL: https://quizplus.com/study-set/3957 Page 2
Chapter 1: Business and Its Legal Environment
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79268
Sample Questions
Q1) A state law that conflicts with the U.S.Constitution will be deemed unconstitutional. A)True
B)False Answer: True
Q2) Most state trial court decisions are not published.
A)True
B)False Answer: True
Q3) In Ben v.City Car Dealership,a state supreme court held that a minor could cancel a contract for the sale of a car.Now a trial court in the same state is deciding Daphne v.Even Steven Auto Deals,Inc. ,,a case with similar facts.Under the doctrine of stare decisis,the trial court is likely to
A)allow the minor to cancel the contract.
B)disregard the previous case.
C)order the minor to cancel the contract.
D)require the minor to fulfill the contract.
Answer: A
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Page 3
Chapter 2: The Court System
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79267
Sample Questions
Q1) 3D HD TV Company,a firm in Minnesota,advertises on the Web.A court in North Dakota would be most likely to exercise jurisdiction over 3D HD if the firm
A)conducted substantial business with North Dakota residents through its Web site.
B)interacted with any North Dakota resident through its Web site.
C)only advertised without interactivity at its Web site.
D)suddenly removed its ad from the Internet.
Answer: A
Q2) A default judgment is entered against a party who fails to respond to the allegations in a complaint.
A)True
B)False
Answer: True
Q3) At every stage of a trial,either party can file a motion to dismiss the case. A)True
B)False
Answer: True
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Chapter 3: Alternative and Online Dispute Resolution
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Kato and Leilani dispute the quality of a collection of sports memorabilia sold over the Internet.They agree to resolve this dispute in 2BRNot2B.com,an online forum.Like most online forums,2BRNot2B.com applies
A)general,universal legal principles.
B)ICANN's Rules for Uniform Dispute Resolution Processes.
C)jurisprudence developed by CAN-WIN.
D)the law of California (or another specific U.S.jurisdiction).
Answer: A
Q2) All-American Engineering,Inc. ,disputes the use of "all-american.com" as a domain name by All-American Export Company.For this dispute,the Internet Corporation for Assigned Names and Numbers (ICANN)operates
A)a blog for the public to comment on the issues and the parties.
B)an online arbitration system.
C)a record of all officially approved business names and numbers.
D)special courts in Washington,D.C. ,and other major cities.
Answer: B
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Chapter 4: Ethics and Business Decision Making
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79265
Sample Questions
Q1) Fealty Credit Corporation asks its employees to evaluate their actions and get on the ethical business decision-making "bandwagon." Guidelines for judging individual actions include all of the following except
A)an individual's conscience.
B)business rules and procedures.
C)loopholes in the law or company policies.
D)promises to others.
Q2) Businesspersons who would choose to act unethically may be deterred from doing so because of public opinion.
A)True
B)False
Q3) Ethics is the branch of philosophy that focuses on what constitutes right and wrong behavior.
A)True
B)False
Q4) Restricting the bonuses that are paid to executives is unethical.
A)True
B)False
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Chapter 5: Constitutional Law
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79264
Sample Questions
Q1) The First Amendment does not protect corporate political speech.
A)True
B)False
Q2) A Massachusetts state statute imposes a prison term,without a trial,on all street entertainers who operate in certain areas.A court would likely review this statute under the principles of
A)equal protection.
B)free exercise.
C)procedural due process.
D)substantive due process.
Q3) Enterprising Markets Coalition (EMC),a political lobbying group,wants a certain policy enacted into law.If EMC's policy conflicts with the U.S.Constitution,a law embodying it can be imposed by A)Congress.
B)a federal court.
C)a state legislature.
D)none of the choices.
Q4) A law that regulates economic matters violates the equal protection clause. A)True
B)False
Page 7
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Chapter 6: Administrative Law
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42 Flashcards
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Sample Questions
Q1) With some exceptions,every portion of every meeting of the Federal Reserve System Board of Governors and other federal administrative agencies must be open to public observation under
A)no federal or state law.
B)the Freedom of Information Act.
C)the Government-in-the-Sunshine Act.
D)the Public Accountability Act.
Q2) The Regulatory Flexibility Act has helped reduce record-keeping burdens for Hometown Gas Company and other small business firms in the area of
A)accounting practices.
B)asset acquisition.
C)hazardous waste management.
D)tax reporting.
Q3) Final administrative rules have binding legal effect unless the courts later overturn them.
A)True
B)False
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Chapter 7: Criminal Law and Cyber Crime
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79262
Sample Questions
Q1) Most cyber crimes are "new" crimes.
A)True
B)False
Q2) Gail is a "payday" lender charged with filing false claims in bankruptcy proceedings against her debtors.The standard of proof to find a defendant who has been charged with a crime guilty is
A)a preponderance of the evidence.
B)beyond all doubt.
C)beyond a reasonable doubt.
D)clear and convincing evidence.
Q3) Sophie is the president of Tasty Foods Corporation,a wholesale grocery company.An inspection by Uri,a government agent,uncovers unsanitary conditions caused by Vic,a Tasty Foods employee,in the company's warehouse.Will,a Tasty Foods vice president,assures Uri that the situation will be corrected,but a later inspection reveals no such corrections.Sophie knows nothing about any of this.Can Tasty Foods be convicted of a crime in these circumstances Can Sophie be held personally liable
Q4) A misdemeanor is a crime punishable only by a fine.
A)True
B)False
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Chapter 8: International Law in a Global Economy
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79261
Sample Questions
Q1) International law is a body of law that governs relations among nations.
A)True
B)False
Q2) Qang and other foreign citizens allege human rights violations committed overseas by the government of Burma on behalf of Railway Construction Company,a U.S.firm.To seek redress for their injuries in a U.S.court,these citizens can
A)subject the private company to the provisions of the Sherman Act.
B)bring civil suits under the Alien Tort Claims Act.
C)file criminal complaints under Title VII of the Civil Rights Act.
D)do nothing.
Q3) Restrictions on imports may include quotas.
A)True
B)False
Q4) The simplest way for a U.S.firm to do business in a foreign market is to export its products directly to that market.
A)True
B)False
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10
Chapter 9: Contract Formation
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Sample Questions
Q1) Danton,a popular performer,dies.His spouse Caitlin sells their house to Buck.Unknown to Caitlin or Buck,in one of the closets is the master recording of an unreleased album.With respect to this recording,Buck can
A)keep it because Caitlin should have known about it.
B)keep it because the sale of a house includes everything in it.
C)not keep it because there was no voluntary consent to its sale.
D)not keep it because the sale of a house includes nothing in it.
Q2) Maya is a stockbroker.Nora believes that the price of OK Goods,Inc.(OKGI),a widely traded stock,is going to increase substantially.Through Maya,Nora buys 500 shares of OKGI at $10 per share,but the price soon drops to $2.Nora can successfully recover from Maya
A)nothing.
B)the amount of the purchase price.
C)the amount of the purchase price plus the expected increase.
D)the amount of the purchase price plus the unexpected decrease.
Q3) A contract is always enforceable even if one party is aware that the other party made a mistake of fact.
A)True
B)False
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Page 11
Chapter 10: Contract Performance,breach,and Remedies
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79259
Sample Questions
Q1) Refer to Fact Pattern 10-A1.Neil's performance is most likely
A)a material breach.
B)a minor breach.
C)Mutual's breach.
D)no breach.
Q2) Any breach excuses the nonbreaching party's duty to perform.
A)True
B)False
Q3) National Drilling Company ships its only pump to American Hydraulics Corporation,the manufacturer,for repair.National hires Overland Transport,Inc. ,to take the pump to American Hydraulics and to return it to National as soon as the repair is complete.National is forced to suspend operations without a pump,but Overland does not know this.National expects to be without the pump for five days and to lose profits of $5,000.When the pump is not returned by the end of the fifth day,National rents a pump at a cost of $100 per day.Overland delays five more days before returning the pump.National files a suit against Overland,asking for compensatory,consequential,and punitive damages.Will National recover
Q4) If no time for performance is stated in a contract,any time is acceptable.
A)True B)False
Page 12
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Chapter 11: Sales,leases,and E-Contracts
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Sari buys a new sport utility vehicle (SUV)from 'Tastic Cars & Trucks,Inc.The most important factor in determining whether an express warranty is created is whether
A)Sari expresses to 'Tastic what she wants warranted.
B)Sari's desire for the SUV becomes part of her motivation to deal.
C)'Tastic expresses to Sari what it expects of its customers.
D)'Tastic's promise becomes part of the basis of the bargain.
Q2) Mitchell buys 100 bales of hay from New Grain Fields.The parties agree that the hay will be transported "F.O.B.New Grain Fields" via Farm County Trucking Company.Farm County's truck and the hay are lost in a fire following an accident.The loss is suffered by A)Mitchell.
B)New Grain Fields.
C)Farm County Trucking.
D)all of the parties in equal measure.
Q3) A seller has an insurable interest in goods as long as the goods are in existence.
A)True
B)False
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Page 13
Chapter 12: Torts and Cyber Torts
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42 Flashcards
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Sample Questions
Q1) An act that causes indignity is sufficient to recover for the infliction of emotional distress.
A)True
B)False
Q2) Kay carelessly bumps into Lyle,knocking him to the ground.Kay has committed the tort of negligence
A)only if Lyle is injured.
B)only if Lyle is not injured.
C)under any circumstances.
D)under no circumstances.
Q3) An artisan's lien is a defense to a charge of trespass to personal property.
A)True
B)False
Q4) After two years of research and an investment of a substantial amount of money,Coast-to-Coast Company (CC)develops a new product that it hopes will produce substantial profits.CC learns that a competitor,National Sales,Inc. ,has made and begun to sell a nearly identical product.CC learns from a reliable source that National paid a CC employee to obtain the plans for CC's product when it was in development.What legal recourse does CC have against National
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Chapter 13: Strict Liability and Product Liability
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) The majority of states limit the application of strict product liability theory to situations involving personal injuries.
A)True
B)False
Q2) GR8 Skates Company makes and sells a pair of skates to Homer.GR8 fails to exercise "due care" to make the skates safe,and Homer is injured as a result.GR8 is most likely liable for
A)assumption of risk.
B)knowledgeable use.
C)negligence.
D)foreseeable misuse.
Q3) A public policy underlying the imposition of strict product liability is that consumers should be protected against unsafe products.
A)True
B)False
Q4) A statute of limitation may restrict the time within which an action in product liability may be brought.
A)True
B)False
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Chapter 14: Intellectual Property and Internet Law
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Rockstar Software,Inc. ,develops a new series of performance-related video games.The games are most likely protected by A)copyright law.
B)patent law.
C)trademark law.
D)trade secrets law.
Q2) An arbitrary use of ordinary words may not be trademarked.
A)True
B)False
Q3) E-Shopping Corporation inserts Fiesta Mall,Inc.'s trademark as a meta tag in E-Shopping's Web site's key-words field without Fiesta's permission in a manner that suggests Fiesta authorized the use.This is
A)copyright infringement.
B)patent infringement.
C)trademark infringement.
D)none of the choices.
Q4) State and federal governments provide for the registration of trademarks.
A)True
B)False
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Chapter 15: Creditor-Debtor Relations and Bankruptcy
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) If a debtor's income is below the median income,there is a presumption of bankruptcy abuse.
A)True
B)False
Q2) A homestead exemption allows a debtor to subtract the value of the family home from the amount of a debt.
A)True B)False
Q3) Certain liquidation cases may be converted to repayment plan cases with the consent of the debtor.
A)True
B)False
Q4) Certain debtors may not qualify to have all debts discharged in bankruptcy. A)True
B)False
Q5) Any "person" may be a debtor in a liquidation proceeding.
A)True B)False
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Chapter 16: Mortgages Foreclosures After the Recession
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42 Flashcards
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Sample Questions
Q1) Foreclosure is the postponement,for a limited time,of part or all of the payments on a loan in jeopardy of repossession and sale.
A)True
B)False
Q2) Kim's home is valued at $250,000.Kim has paid the mortgage-she has 100 percent equity in the property.She wants to start a new business with Lloyd.To obtain funds,Kim refinances the loan through Metro Bank,borrowing $200,000 for fifteen years at an interest rate of 4.85 percent.Before the loan is completed,Metro provides Kim with all of the required disclosures.On the day of the loan,a fifteen-year Treasury bond is yielding 2.85 percent.Kim pays $7,500 in fees to the bank.Less than a month later,she sells her interest in the new business to Lloyd and wants to rescind the loan.Which federal law covers this loan-TILA,HOEPA,HPML,or HAMP Can Kim rescind the deal Explain.
Q3) 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
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Chapter 17: Sole Proprietorships, franchises, Partnerships
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Source URL: https://quizplus.com/quiz/79252
Sample Questions
Q1) The simplest form of business is a sole proprietorship.
A)True
B)False
Q2) Evermore Sports Club and Infinite Fitness Corporation enter into a franchise agreement that provides for its termination at any time for "cause." Evermore fails to meet Infinite's membership sales quota.Is this "cause" for termination Explain.
Q3) In a general partnership,the partners are personally liable for the debts of the partnership.
A)True
B)False
Q4) Jody owns KuppaJava Kiosks,a sole proprietorship.Jody's liability is
A)limited by state statute and varies from state to state.
B)limited to the extent of capital expenditures.
C)limited to the extent of his or her original investment.
D)unlimited.
Q5) Good faith and fair dealing are not important in terminating a franchise relationship.
A)True
B)False
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Chapter 18: Limited Liability Companies and Limited Partnerships
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Sample Questions
Q1) The liability of the members of a limited liability company is limited to the amount of their investments.
A)True
B)False
Q2) Fern and Gray want to form a limited partnership to manage two restaurants: Café Latte and Deli Delite.In most states,a limited partnership will be created when
A)a certificate of limited partnership is filed.
B)a partnership agreement is executed.
C)the business for which the firm is formed actually opens its doors.
D)the partners make their capital contributions.
Q3) When a member dissociates form a limited liability company,the member's duty of loyalty continues.
A)True
B)False
Q4) A limited liability company can be taxed as a partnership.
A)True
B)False
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Chapter 19: Corporations
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42 Flashcards
Source URL: https://quizplus.com/quiz/79250
Sample Questions
Q1) Many qualifications are required for directors.
A)True
B)False
Q2) A corporation is a legal entity created and recognized by federal law.
A)True
B)False
Q3) Rhea is a director of Spex Corporation,which makes and sells sunglasses and other eyewear.As a Spex director,Rhea sits on the board,which
A)governs Spex.
B)is governed by the Spex incorporators.
C)is governed by the Spex officers.
D)is governed by the Spex shareholders.
Q4) When a third party harms a corporation,only the shareholders can bring a suit in the corporation's name against that party.
A)True B)False
Q5) Corporate profits can be subject to double taxation. A)True B)False
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Chapter 20: Agency
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42 Verified Questions
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Source URL: https://quizplus.com/quiz/79249
Sample Questions
Q1) Arnold is the chief executive officer of Beta Corporation.Arnold's responsibilities include decisions on product development,marketing,and other significant business directions.Arnold is subject to the approval and oversight of Beta's board of directors.Carol is a Beta manager whose duties include the firm's day-to-day hiring,firing,purchasing,and selling.Dave is a Beta salesperson,whose daily activities are controlled by Carol.Erin writes technical manuals for Beta products according to Arnold's instructions and subject to Beta's control,but has no dealings with Beta customers or suppliers.Fred edits the manuals on a contract-per-manual basis and is not otherwise subject to Beta's control.Who is a principal Who is an agent Who is an employee Who is an independent contractor
Q2) An agency coupled with an interest is an agency created for the agent's benefit.
A)True
B)False
Q3) Normally,all employees who deal with third parties are deemed to be agents.
A)True
B)False
Q4) Ratification occurs when a principal accepts responsibility for an agent's unauthorized act.
A)True
B)False
Page 22
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Chapter 21: Employment Relationships
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Sample Questions
Q1) Any employee who works more than eight hours per day must be paid overtime.
A)True
B)False
Q2) To be eligible for unemployment compensation,a worker must be willing and able to work.
A)True
B)False
Q3) Uri is an employee of Verity Security Services.For Uri to obtain the benefits of federal wage-hour requirements,Verity must be engaged in
A)business activity.
B)employment at will.
C)international commerce.
D)interstate commerce.
Q4) Alex is an employee of Bigg Corporation.To help pay for employees' loss of income on retirement,contributions are required by law to be paid by
A)Alex and Bigg.
B)Alex only.
C)Bigg only.
D)neither Alex nor Bigg.
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Chapter 22: Employment Discrimination
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Sample Questions
Q1) Origami Paper Products Corporation meets all of the requirements to be subject to the federal employment discrimination laws.These laws restrict the ability of employers to discriminate against workers on the basis of A)experience.
B)gender.
C)intelligence. D)skill.
Q2) Paolo has cerebral palsy,Quincy has kleptomania,and both work for Reality Insurance Company.Considered disabled under the Americans with Disabilities Act
A)are Paolo and Quincy.
B)is Paolo only.
C)is Quincy only.
D)is neither Paolo nor Quincy.
Q3) An employee's resignation must be the foreseeable result of an employer's discriminatory action to support a showing of constructive discharge.
A)True
B)False
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Chapter 23: Immigratiion and Labor Law
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Sample Questions
Q1) Detailed Designs Company,an architectural firm,wants to hire Eduardo,a noncitizen.A temporary work visa is most likely to be set aside for a noncitizen who is
A)a "person of ethnic similarity to the employer's workforce."
B)a "person of extraordinary ability."
C)a "person of ordinary ability and ambition."
D)a "person with an extraordinary work ethic."
Q2) Workers have a right to refuse to cross a picket line of fellow workers who are engaged in a lawful strike.
A)True
B)False
Q3) Requiring union membership as a condition of continued employment is illegal in many states.
A)True
B)False
Q4) A closed shop is a workplace that rejects union membership as a condition of employment.
A)True
B)False
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25
Chapter 24: Consumer Protection
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Sample Questions
Q1) On behalf of RiteNow Collection Agency,Sid poses as a police officer in an attempt to collect payment from Tylo for a shipment of scuba equipment that she returned to Undersea Company two months earlier.This violates A)no federal law.
B)the Fair Credit Reporting Act.
C)the Fair Debt Collection Practices Act.
D)the Truth-in-Lending Act.
Q2) Kip opens an account at a Lotsa Goodies Store,and buys a digital music player and other items,but makes no payments on the account.To collect the debt,Mako,the manager,contacts Kip's parents.This violates A)no federal law.
B)the Fair and Accurate Credit Transactions Act.
C)the Fair Debt Collection Practices Act.
D)the Truth-in-Lending Act.
Q3) A collection agency must include a validation notice whenever it initially contacts a debtor for payment of a debt.
A)True
B)False
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26
Chapter 25: Environmental Law
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Sample Questions
Q1) Cozy City lies on the shore of a bay that empties into the Atlantic Ocean.Downcycler Waste Company picks up garbage and trash from local businesses.Further inland,Eschew Corporation collects radioactive waste from the local utility's nuclear power plant.On the other side of the bay,Fort Cozy Military Base stores chemical warfare supplies for disposal.Can Downcycler,Eschew,or Fort Cozy dump their waste in the ocean
Q2) Under the Marine Protection,Research,and Sanctuaries Act (the Ocean Dumping Act),Bayside Chemical Company may dump its chemical waste into the ocean
A)after obtaining a permit.
B)before obtaining a permit.
C)without a permit.
D)not at all.
Q3) Corporate officers cannot be subject to penalties for violations of the Clean Air Act. A)True B)False
Q4) The Environmental Protection Agency defines wetlands as "lands that are wet." A)True B)False
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Chapter 26: Real Property Land-Use Control
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Sample Questions
Q1) A state cannot regulate the overall appearance of a community.
A)True
B)False
Q2) In most states,the seller of a new house warrants that it is fit for habitation even if the deed does not include such a warranty.
A)True
B)False
Q3) County Zoning Commission classifies Dale's vacant land as single-family residential.This is not in accord with the general plan,which designates the area commercial.Surrounding parcels are zoned commercial.Under the equal protection of the Fourteenth Amendment,this is
A)an exercise of the state's police power.
B)a taking.
C)a zoning variance.
D)discriminatory.
Q4) The owner of real property has relatively exclusive rights to the airspace above the land.
A)True
B)False
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Chapter 27: Antitrust and Monopoly
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Sample Questions
Q1) Jett Fuel Corporation conditions future shipments of its products to Kondor Airlines,Inc. ,on Kondor's agreement not to buy products from Lite Kerosene Company,Jett's competitor.This is
A)a tying arrangement.
B)exclusive dealing.
C)price discrimination.
D)price fixing.
Q2) Seaside Cannery,Inc. ,is one of many producers of canned seafood.Seaside refuses to sell its products to Port Harbor Restaurant Corporation.Under antitrust law,this refusal is most likely
A)a per se violation.
B)a violation if its competitors make similar deals.
C)a violation if it thereby acquires monopoly power.
D)not a violation.
Q3) A contract under which a seller forbids a buyer to purchase products from the seller's competitors is a tying arrangement.
A)True
B)False
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Chapter 28: Antitrust and Restraints of Trade
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Sample Questions
Q1) 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.
Q2) XtraOrdinaire Inc.competes with Yowza! Company in the same market.Their merger would be
A)a horizontal merger.
B)an interlocking directorate.
C)a tying arrangement.
D)a vertical merger.
Q3) A merger between firms that compete with each other in the same market is a vertical merger.
A)True
B)False
Q4) Mergers between firms that compete in the same market are vertical mergers.
A)True
B)False
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Chapter 29: Investor Protection and Corporate Governance
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Q1) Anyone who wrongfully obtains inside information and trades on it for his or her personal gain can be liable under SEC Rule 10b-5.
A)True
B)False
Q2) "Forward-looking" financial forecasts are protected against liability for securities fraud.
A)True
B)False
Q3) The Securities and Exchange Commission does not regulate the content of proxy statements.
A)True
B)False
Q4) Refer to Fact Pattern 29-2A.Under the Securities Exchange Act of 1934,Fay is most likely
A)liable for insider trading.
B)not liable because Fay did not prevent others from profiting.
C)not liable because Fay did not solicit information from Dhani.
D)not liable because Fay does not work for Eureka.
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Chapter 30: Part I: The Foundations
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Q1) In a brief filed in Lea's suit against Mica in a state court,Neil,Lea's attorney,cites,Ole!
Cafe v.Pan Foods Corp. ,an unpublished opinion.With respect to the persuasiveness of unpublished opinions,most states
A)allow their courts to consider such opinions.
B)do not allow their courts to consider such opinions.
C)impose certain hierarchical rankings.
D)require their courts to consider such opinions.
Q2) In the pursuit of profits,Global Enterprises Corporation engages in what some observers consider to be bad corporate behavior.The worldwide explosion of information technology has led to a transparent global economy that makes socially responsible behavior
A)more important.
B)less important.
C)neither more nor less important.
D)both more and less important.
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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Chapter 31: Part II: The Public and International Environment
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Q1) Lauren,a basketball coach at State University,schemes to fraudulently obtain scholarships for her team's players.This is most likely
A)honest-services fraud,a federal crime.
B)a violation of collegiate athletic rules but no crime.
C)a breach of university rules but no civil or criminal wrong.
D)unethical but no crime.
Q2) Arnie posts online a note that "I have good pix of child & me" with a link to several pictures of minors engaged in sex.Arnie is charged with violating a statute that makes it a crime to distribute material intended to make others believe it is child pornography.He argues that the statute is unconstitutional.The court is most likely to hold that the statute is
A)unconstitutional because it criminalizes speech.
B)unconstitutional because it is overbroad.
C)unconstitutional because it is impermissibly vague.
D)valid because it does not prohibit a substantial amount of protected speech.
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33
Chapter 32: Part III: The Commercial Environment
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Q1) Sports Fit Company sponsors the "$100,000 Game" in which contestants compete in ten separate athletic events over a period of weeks.Sports Fit announces that the winner of each event will be awarded $5,000 with the "Ultimate Champion"-the winner of the most events-awarded $50,000.If the "$100,000 Game" is treated as a unilateral contract,Sports Fit can
A)cancel the contest or alter its terms at any time.
B)not modify the terms of the contest after it begins.
C)reduce the amount of the event prizes but not the grand prize.
D)reduce the amount of the grand prize but not the event prizes.
Q2) California caps noneconomic damages in medical malpractice cases at $250,000.California and other states hope that such limits will reduce health-care expenditures by reducing
A)the frequency and severity of medical malpractice claims.
B)the frequency and severity of occurrences of medical negligence.
C)the number of legal and financial personnel,including attorneys.
D)the size of medical staffs,including "nonessential" personnel.
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34
Chapter 33: Part IV: The Business Environment
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Q1) Kirby is a manager of Jumpstart Fitness LLC,a limited liability company.Jumpstart is formed in a state that imposes fiduciary duties on LLC managers.Kirby owes these duties to
A)Jumpstart's members.
B)Jumpstart's suppliers.
C)Jumpstart's customers.
D)none of the choices.
Q2) 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.
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Chapter 34: Part V: The Employment Environment
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Q1) Paisley works for Rick's Air Conditioning & Heating Service.Reasons for holding Rick's liable under the doctrine of respondeat superior for Paisley's tort injuring Nikki do not include the employer's
A)ability to afford Nikki more effective relief.
B)ability to pay for Nikki's injury.
C)control over Paisley.
D)guilt or innocence.
Q2) 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.
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Chapter 35: Part VI: The Regulatory Environment
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Q1) Thai Pizza Corporation is a restaurant chain with twenty locations.Under federal law,Thai Pizza must post
A)the caloric content of the foods on the chain's menu.
B)the recipes for the dishes on the chain's standard menu.
C)the chain's recommendations for the healthiest selections.
D)none of the choices.
Q2) 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.
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