Business Law for Managers
Question Bank
Course Introduction
Business Law for Managers introduces students to the legal frameworks and principles that shape business operations and managerial decision-making. Through the exploration of contracts, agency, employment law, intellectual property, dispute resolution, and regulatory compliance, this course equips managers with the knowledge to navigate common legal challenges in the business world. Emphasis is placed on practical application, ethical considerations, and risk management, enabling future managers to identify potential legal issues, communicate effectively with legal counsel, and make informed decisions that minimize liability and support organizational success.
Recommended Textbook Legal Fundamentals for Canadian Business 3rd Edition by
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10 Chapters
1473 Verified Questions
1473 Flashcards
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Page 2
Richard A. Yates
Chapter 1: The Canadian Legal System
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139 Verified Questions
139 Flashcards
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Sample Questions
Q1) Judges in a common law system base their decisions on other judges' decisions.
A)True
B)False
Answer: True
Q2) Which of the following is the most usable definition of law?
A)It is most useful to us to define law in terms of what we think people ought to do.
B)We must define law in terms of what people used to do.
C)We must define law in terms of what the courts or other agents of government will enforce.
D)We must define law in terms of what society needs people to do.
E)It is most useful to us to define law in terms of what people do.
Answer: C
Q3) The Supreme Court of Canada hears only appeals of private citizens.
A)True
B)False
Answer: False
Q4) What is the standard of proof used in a civil action?
Answer: Balance of probabilities
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Chapter 2: Torts and Professional Liability
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143 Verified Questions
143 Flashcards
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Sample Questions
Q1) After the McLeans filled their swimming pool, recently built in their backyard, swarms of bees came regularly for water.The bees stung everyone, including the dog, and made it impossible for the McLeans to enjoy the use of their pool.Unknown to the McLeans when they had the pool installed, their neighbour Springborn had beehives on his property.On these facts, which of the following is true?
A)The McLeans have an action against Springborn for nuisance.
B)The McLeans have an action against Springborn for assault.
C)Springborn would successfully use the defence of absolute privilege.
D)The McLeans have an action against Springborn under the Occupiers' Liability Act.
E)The McLeans have an action against Springborn for nuisance and also under the Occupiers' Liability Act.
Answer: A
Q2) It is possible for wrongful conduct to be both a tort and a crime.
A)True
B)False
Answer: True
Q3) Explain how your right to defend yourself is limited.
Answer: You are permitted to use only reasonable force to defend yourself.
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Chapter 3: Formation of Contracts
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167 Flashcards
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Sample Questions
Q1) Sam had been a friend of Joe for a considerable period of time and had often accompanied him as he sailed his classic yacht.Sam had often communicated to Joe how much he would like to have the boat.On Friday night, a friend told Sam that Joe had suffered some business reverses and was going to have to get rid of the yacht.Sam immediately wrote Joe a letter offering to purchase the yacht for $25 000.Unknown to Sam, Joe had written Sam a similar letter offering to sell the yacht for $25 000.These two letters passed in the mail.Joe received Sam's letter at about noon on Saturday, and Sam received Joe's letter at about 2:30 p.m.on Saturday.Are these people bound in contract? Explain.
Answer: No, they are not.There must be a meeting of the minds.These letters merely indicate that one is willing to sell and the other is willing to buy.There must be an indication that both understand that the deal has been made.There must be an offer and an acceptance.Here there is just an exchange of offers.
Q2) "A verbal contract is every bit as binding as a written one." Discuss the validity of this statement.
Answer: The Statute of Frauds requires that contracts for things such as interests in land, etc., must be evidenced in writing.Otherwise, the statement is correct.
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Chapter 4: Enforcing Contractual Obligations
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177 Flashcards
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Sample Questions
Q1) Distinguish between a cheque and a bill of exchange.
Q2) What is rescission?
Q3) What does an innocent party to an anticipatory breach risk should he or she continue to demand performance?
Q4) A computer salesman innocently misrepresented a fact about a Macintosh computer to a customer.Although this fact was not about a term of the contract, it did induce the customer to buy the computer.The customer has now learned the true facts and wants to return the computer.If the store refused to take it back, the customer would ask the court for which equitable remedy?
A)Rescission
B)Restitution
C)Injunction
D)Damages
E)Rectification
Q5) What are liquidated damages?
Q6) Novation is the term used when a new party is substituted for an original party to the contract.
A)True
B)False
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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) Explain how the rights of the creditors are protected under bankruptcy legislation.
Q2) Quiet possession means that goods have to be usable as intended without interference.
A)True
B)False
Q3) John walked into Sam's TV store and said, pointing to a particular television, "I'll take that one." They wrote up the deal, and John was to return the next day to pay for it and pick it up.Explain who bears the risk in the meantime.
Q4) What is the main purpose of the Sale of Goods Act?
Q5) What is the difference in terms of legal responsibility between a co-signer and a guarantor of a debt?
Q6) What are the rights of the purchasers when the goods do not match the description?
Q7) The Sale of Goods Act applies to all goods and services.
A)True
B)False
Q8) Explain the purpose of the bankruptcy process.
Page 7
Q9) Explain why bankruptcy and insolvency are important for a business person.
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Chapter 6: Agency and Employment
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158 Verified Questions
158 Flashcards
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Sample Questions
Q1) For the past seven years, Hudson has worked as vice-president in charge of personnel (a non-union position) for Mountain Enterprises Ltd.As part of a corporate reorganization, the directors of the company decided to downgrade Hudson's position to manager of personnel.Hudson is very upset at this change and consequently refuses to go along with it.The company dismisses him immediately without any notice or pay in lieu thereof, because of his refusal.If Hudson sues for wrongful dismissal, which one of the following statements indicates the most likely outcome of the case?
A)Hudson will win because the company breached the employment contract and he does not have to accept that breach.
B)The company will win because non-union employees are always subject to dismissal without notice, because there is no collective agreement.
C)The company will win because it dismissed Hudson, rather than saying he was "fired."
D)The company will win because Hudson's refusal constituted "cause."
E)Hudson will win because an employer owes its employees a job, unless the employee is convicted of a theft.
Q2) Explain when an employer can be held liable for the wrongful acts of an employee.
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Chapter 7: Methods of Carrying on Business
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174 Flashcards
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Sample Questions
Q1) When a partnership dissolves, which of the following is not one of the causes?
A)The partnership is dissolved when one of the partners dies.
B)The partnership is dissolved when one of the partners starts a business in competition with the partnership business.
C)The partnership is dissolved when one of the partners goes bankrupt.
D)The partnership is dissolved when one of the partners serves notice on the other partners to that effect.
E)A partnership can be dissolved by order of the court.
Q2) Where a corporation borrows money, only the corporation is responsible for that debt, not the shareholders.
A)True
B)False
Q3) What are the advantages and disadvantages of being a sole proprietor?
Q4) Securities regulations are a federal responsibility.
A)True
B)False
Q5) "As in other forms of business, when decisions are to be taken, the majority of the partners must approve the decision." Discuss the accuracy of this statement.
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Chapter 8: Property
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Sample Questions
Q1) Explain what is used as security in a mortgage transaction.
Q2) What is meant by the term bailment?
Q3) Life estate means that the land is leased to a tenant for the period of his or her life.
A)True
B)False
Q4) Where a first mortgagee forecloses in the event of a default, explain what the appropriate course of action would be for a second or third mortgagee.
Q5) Explain what is meant by riparian rights.
Q6) Distinguish between real property and other forms of property.
Q7) In a second or third mortgage, it is the right to redeem that is mortgaged or transferred as security.
A)True
B)False
Q8) Some businesses may be subject to both federal and provincial regulations.
A)True
B)False
Q9) Who is responsible for the repair of the premises in a normal rental agreement?
Q10) Distinguish between a bailment for value and a voluntary bailment.
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Chapter 9: Ideas and Information
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131 Flashcards
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Sample Questions
Q1) Discuss the registration requirements of industrial designs.
Q2) The Personal Information Protection and Electronic Documents Act (PIPEDA) protects personal information, limits its collection, and provides for limited access where appropriate.
A)True
B)False
Q3) Which of the following is true with regard to patent protection?
A)The patent protection order is an order of the court requiring a person who stole and used a trade secret to make an accounting of all profit realized from its use.
B)Unlike copyright, patent protection does not come automatically.It must be applied for.
C)Patent protection for property lasts for a period of 15 years and is renewable, but it must be used during that time or it will be considered abandoned.
D)Unlike copyright, patents can extend to "every original literary, dramatic, musical and artistic work" produced in Canada.
E)Computer software is never patentable in Canada.
Q4) Explain how one might secure a patent in some European countries.
Q5) What kinds of things are protected as industrial designs?
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Chapter 10: Electronic Commerce and International Trade
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) Discuss the concept of territorial competence.
Q2) When a foreign judgment is obtained against a business or individual, which of the following statements is true?
A)If the business has no assets in the foreign jurisdiction or if there is no treaty in place to allow for enforcement, enforcement is a substantial threat.
B)Whether a business resides in a foreign or domestic jurisdiction presents no problems regarding enforcement.
C)Since the business resides in a foreign jurisdiction, there is no threat of enforcement.
D)Since the judgment is obtained in a foreign jurisdiction, the business or individual may be extradited to face criminal charges.
E)If the business has assets in the foreign jurisdiction or there are treaties in place to allow for enforcement, it is quite likely that the foreign judgment will be enforced.
Q3) Discuss Bill C-28, Canada's anti-spam legislation, which was passed into law in December 2010.
Q4) Describe the North American Free Trade Agreement (NAFTA).
Q5) Discuss the Corruption of Foreign Public Officials Act.
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