Chapter 3: Trials and Resolving Disputes
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Q1) Refer to Fact Pattern 3-1.What is the likelihood that Amanda will be able to depose the president of Musclematic or obtain an interrogatory?
A)wholly unlikely
B)maybe,but almost certainly not
C)slightly likely
D)very likely
E)forget it,she couldn't depose the president if her life depended upon it
Answer: D
Q2) The motion to dismiss for failure to state a claim or cause of action (a demurrer)is an allegation by the:
A)plaintiff that the defendant has no possible defense
B)defendant that the law furnishes no remedy for plaintiff's claimed injury
C)defendant that the complaint lacks true facts
D)defendant that the court does not have proper jurisdiction over the case
E)none of the other choices are correct
Answer: B
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Chapter 8: Real and Personal Property
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Q1) Which of the following is an intentional tort against property:
A)defamation
B)battery
C)malicious prosecution
D)invasion of privacy
E)none of the other choices
Q2) A _______________ is someone who has no right to occupy or use an estate and does so without permission.
A)real user
B)false user
C)antagonistic user
D)illegal user
E)hostile user
Q3) The government has the power to force the sale of private property for a public use.
A)True
B)False
Q4) Statutes may not modify the law of real property.
A)True
B)False
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Chapter 9: Intellectual Property
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Q1) The International Silk Association uses the motto "Only silk is silk." That is a:
A)copyright
B)trade dress
D)certification mark
D)trade name
E)none of the other choices
Q2) A commercial symbol that concerns the "look and feel" of a product is known as:
A)trademark
B)trade name
C)service mark
D)appearance mark
E)none of the other choices
Q3) In New York Times v.Tasini the Supreme Court held that electronic publication of copyrighted works infringed on the owner of the copyrights property.
A)True
B)False
Q4) Only books,and similar written material,may be copyrighted.
A)True
B)False
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Chapter 10: Contracts
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Q1) If a partner leaves a firm to go into competition with her old firm,it is possible the firm could get an injunction against the partner working in competition.
A)True
B)False
Q2) Army enlistment contracts and marriage contracts are examples of:
A)contracts that minors may not disaffirm
B)contracts that minors can always disaffirm
C)contracts that anyone can disaffirm
D)contracts that minors may not enter into
E)none of the other choices are correct
Q3) The award to a prevailing party in suit for breach of contract to recover costs incurred due to relying on the promise of the other party is called:
A)liquidated damages
B)nominal damages
C)punitive damages
D)compensatory damages
E)none of the other choices
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Chapter 11: Domestic and International Sales
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Questions
Q1) QD representatives met with EDS managers.They discussed plans for a conference room with Persian carpets,quality furniture and nice art.The parties agreed that the job would be done for $100,000,the final bill to be subject to review.QD delivered a room with ordinary carpet and furniture and posters of dogs.They sent a bill for $85,000.EDS sues
QD:
A)EDS should win based on the UCC's perfect tender rule
B)QD should win on the basis of contract law because the UCC does not apply to real estate dealings
C)QD should win because the terms of the contract were vague,based on oral discussions
D)QD should win on the basis of the seller's right to cure defects
E)none of the other choices
Q2) With respect to the buyer's basic obligations under Article 2,the most critical element is:
A)the appropriate manner and timeliness of delivery
B)the place of tender from the seller
C)the quality of tender
D)accept goods of "adequate" quality
E)none of the other choices
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Page 13
Chapter 12: Negotiable Instruments, credit, and Bankruptcy
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Q1) A business is a(n)____________when it has the ability to take some of the nonpaying customers' property to satisfy the debt.
A)general creditor
B)secured creditor
C)collateral creditor
D)real creditor
E)financed creditor
Q2) The debtor on a mortgage is known as:
A)the bank
B)the debtee
C)the mortgagor
D)the mortgagee
E)none of the above
Q3) Negotiable instruments are governed by:
A)the UCC
B)the CISG
C)the common law of contracts
D)the common law of arbitration
E)the Supreme Court
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Chapter 13: Business Organizations
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Q1) To terminate a partnership,the partners must go through "dissolution."
A)True
B)False
Q2) Corporations are "persons" that enjoy many of the same rights and privileges accorded real persons.
A)True
B)False
Q3) In Ironite Products v.Samuels,where a major shareholder (Samuels)of Ironite sued,contending the bylaws had been violated,the appeals court held that:
A)there was no fraud,the directors followed the rules,so he had no suit
B)while there was no fraud,the directors did not follow the bylaws properly,so the changes made to the corporation would have to be reconsidered
C)the bylaws had been violated,so Samuels was due full fair market value of his shares
D)the directors violated their duty to the corporation so would be removed from control and Samuels would take control of the company
E)none of the other choices
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Chapter 14: Agency and the Employment Relationship
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Q1) Juan and Marie enter into an oral agreement that Marie will sell Juan's crusty herb garlic bread to gourmet food stores in the area.This works until Juan gets sick and no longer makes his bread.Marie is furious that Juan is unable to supply her with the popular bread and sues him for lost profits.A court is likely to rule:
A)Juan cannot abandon the agency relationship he established with Marie
B)Marie's authority to act as agent for Juan lapsed and the agency relationship is terminated
C)Juan should pay Marie damages for reducing her income
D)Marie may not be fired because she and Juan had a contract of employment
E)Juan cannot abandon the agency relationship he established with Marie and Juan should pay Marie damages for reducing her income
Q2) The legal document that authorizes a person or a company to act as an agent for a principal is called:
A)power of law
B)power of agency
C)power of principal
D)power of plaintiff
E)none of the other choices are correct
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Chapter 15: The Regulatory Process
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Q1) When agencies write substantive (legislative)rules they must receive approval of Congress before becoming effective.
A)True
B)False
Q2) Substantive (legislative)rules issued by agencies are:
A)statements that provide the agency staff and public with guidance regarding what the agency believes a certain statute or regulation means
B)administrative statutes with the same force and effect of law as statutes passed by Congress
C)rules that describe an agency's organization,method of operation,and internal practices
D)statements that may only rephrase the language of a statute passed by Congress
E)none of the other choices
Q3) Administrative agencies engage in rulemaking to:
A)develop regulatory policies
B)determine if Congressional statutes should be implemented
C)determine rules for court procedures
D)determine rules for Executive branch operations
E)all of the other choices
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Chapter 17: Employment Discrimination
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Q1) The preferential treatment of members of protected classes is:
A)guilt-driven discrimination
B)irrational discrimination
C)legal discrimination
D)equalizing discrimination
E)none of the other choices are correct
Q2) Executive Order 11246 requires all:
A)small business to undertake affirmative action programs
B)minority-owned businesses to undertake affirmative action programs
C)private universities to undertake affirmative action programs
D)agricultural businesses to undertake affirmative action programs
E)businesses with federal contracts totaling $10,000 a year to take affirmative action
Q3) The preferential treatment of members of protected classes is:
A)reverse discrimination
B)irrational discrimination
C)legal discrimination
D)equalizing discrimination
E)guilt-driven discrimination
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Chapter 19: Consumer Protection
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Q1) Which of these does not violate the Fair Debt Collection Practices Act? The debt collector:
A)claims to be an attorney when talking to the debtor
B)publishes a list of actual debtors in the newspaper
C)threatens to beat up the debtor
D)calls the debtor's employer to discuss the matter
E)all of the other choices are illegal
Q2) Which of the following can be sued for by consumers under the TILA:
A)twice the amount of the finance charge (up to $1000)
B)court costs
C)attorney's fees
D)all of the other specific choices are correct
E)none of the other choices are correct
Q3) Garnishing the wages of a debtor refers to the practice of:
A)setting aside a portion of a debtor's wages to pay a creditor
B)supplementing the wages of a debtor on welfare
C)illegally increasing a debtor's earning so he can pay a creditor
D)temporarily increasing a debtor's wage so he can pay a creditor
E)none of the other choices are correct
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Page 21
Chapter 20: Antitrust Law
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Q1) The Supreme Court has held the sharing of price information to be a per se violation of the Sherman Act.
A)True
B)False
Q2) The first antitrust statute enacted by Congress (in 1890)was:
A)the Federal Trade Commission Act
B)the Interstate Commerce Act
C)the Sherman Act
D)the Clayton Act
E)the Norris-LaGuardia Act
Q3) Mass retailers oppose resale price maintenance because it hinders their strategy of:
A)selling a few high quality products
B)selling name brand goods at high prices
C)selling large volumes of goods at low prices
D)selling large volumes of goods at high prices
E)selling cheap knockoffs
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Chapter 21: Securities Regulation
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Q1) Accredited investors often buy private placement securities through Regulation D offerings.They receive a private-placement memorandum,which is similar to a prospectus,even though the security is not registered.
A)True
B)False
Q2) Liability for misstatements or omissions under SEC Rule 10b-5 applies to both registered and unregistered securities.
A)True
B)False
Q3) The first state to have securities regulation was:
A)Illinois
B)Ohio
C)California
D)Texas
E)none of the other choices are correct
Q4) SEC v.Howey provides the major definition for determining what investments will be deemed to be securities subject to securities law.
A)True
B)False
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Chapter 22: The International Legal Environment of Business
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Q1) Restrictions on a country's imports are generally imposed for which of the following reasons:
A)the country cannot produce the good itself,but wants to make money on it
B)to generate revenue for the government
C)to cause tension with other countries
D)to reduce incentives for U.S.countries to outsource
E)none of the other choices are correct
Q2) The FCPA requires all companies to create internal accounting controls that will provide reasonable assurances that company transactions are authorized and that company assets are traceable.
A)True
B)False
Q3) Which of the following is NOT usually part of the documentation required for payment from a buyer's bank when a letter of credit has been issued:
A)a certificate of origin
B)a commercial invoice
C)an export license
D)proof of profit
E)all of the other choices are correct
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