Corporate Law
Final Exam
Course Introduction
Corporate Law explores the legal framework governing the creation, operation, and regulation of corporations. The course covers essential topics such as the formation of corporations, fiduciary duties of directors and officers, shareholder rights, corporate governance structures, mergers and acquisitions, and compliance with securities regulations. Students will analyze key statutes, case law, and regulatory policies affecting corporate entities, and develop an understanding of the role of corporate law in facilitating business activities and protecting stakeholder interests. Practical case studies and contemporary issues such as corporate social responsibility and ethical considerations will also be discussed, preparing students for careers in legal, business, or regulatory environments.
Recommended Textbook
Business Law with UCC Applications 14th Edition by Paul A. Sukys
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Chapter 1: Ethics, Social Responsibility, and the Law
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Q1) According to ____________, whether an action is moral or not depends on the ultimate effects of that action.
A) natural law
B) market value ethics
C) utilitarianism
D) rational ethics
Answer: C
Q2) Joe believes that there are absolute standards of right and wrong. Joe's belief is an example of market value ethics.
A)True
B)False
Answer: False
Q3) A prescriptive theory explains how to create values that benefit society.
A)True
B)False
Answer: True
Q4) Law consists of values that govern a society's attitudes toward right and wrong.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Sources of the Law
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Q1) According to the uncertainty principle, when intent and results coincide, it is usually based on the strategic thinking and experience of the persons involved.
A)True
B)False
Answer: False
Q2) ____________ includes the freedom of the press, freedom of speech, freedom of assembly, and freedom of religion.
A) The Fifth Amendment
B) The Fourth Amendment
C) The Articles of Confederation
D) The First Amendment
Answer: D
Q3) The purpose of a complex adaptive system is the survival and improvement of the legal ecosystem.
A)True
B)False
Answer: True
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Chapter 3: The Judicial Process and Cyber-Procedure
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Q1) Jury instructions contain the judge's opinion of the evidence presented.
A)True
B)False
Answer: False
Q2) Subject matter jurisdiction in federal court cannot arise in cases of diversity if no federal law is involved.
A)True
B)False
Answer: False
Q3) Probate courts and courts of claims are examples of courts with ____________ jurisdiction.
A) special
B) subject matter
C) personal
D) general
Answer: A
Q4) State trial courts are known as limited jurisdiction courts.
A)True
B)False
Answer: False
5
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Chapter 4: Alternate Dispute Resolution
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Q1) DSK Construction interacts with many contractors and subcontractors, often for long-term projects. Disputes among the various parties often take a long time to be settled as different parties have different demands. Which method of ADR will help DSK and its contractors prevent disputes before they escalate?
Q2) The Cuyahoga Experimental Research Company and the Chagrin River Genetics Laboratory Association planned to construct a laboratory for research into the Human Genome Project. The laboratory would be located on land that was owned by four shipping companies. The owners of the companies objected to the way in which their land was appropriated for the project by the government and the research companies. The owners also objected to the planned location of the research facility because they were afraid that some sort of genetic accident might harm the crops and farm animals that were shipped through their terminal which was adjacent to the research facility. Which form of ADR would be ideally suited to hear this dispute? Explain.
Q3) A criminal law case can be resolved by an ADR panel.
A)True
B)False
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Chapter 5: Criminal Law and Cybercrimes
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Q1) Jackson's wallet is stolen. The thief makes use of the identification items in the wallet to pass himself off as Jackson in order to establish fraudulent credit card accounts and in general, disrupt Jackson's financial life. Analyze the crimes and the law violations for which the thief can be convicted.
Q2) An undercover police investigator logs into a computer chat room posing as a 15-year old girl. An older man, knowing the asserted age of the "girl", suggests that they meet at a local motel and expresses his intentions. The man checks into the motel at the pre-arranged time, and is arrested for attempted statutory rape under a state Internet enticement law. Discuss the case in brief.
Q3) Two drivers challenge each other to a drag race on a public highway. This is an example of acting with: A) a purpose.
B) knowledge C) recklessness. D) negligence.
Q4) The RICO Act covers only serious crimes, such as arson and robbery.
A)True
B)False
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Page 7
Chapter 6: Tort Law and Cybertorts
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Q1) Ching keeps a pet snake in her apartment. While Ching is hosting a party at her apartment, the snake escapes from its cage and bites a guest, seriously injuring the guest. The guest knew before attending the party that Ching has a pet snake in her apartment. If the guest sues Ching for the injury resulting from the cobra bite, Ching: A) will be strictly liable.
B) may defend based on assumption of risk.
C) is liable only if she intentionally released the snake from its cage.
D) has no liability since the incident was unforeseen by her.
Q2) If Jennifer, a landowner, wants Smith, a neighbor, to stop polluting a stream that flows into Jennifer's land, Jennifer should request a court to grant:
A) noneconomic compensatory damages.
B) economic compensatory damages.
C) an injunction.
D) an appeal bond.
Q3) Contributory negligence is a defense that completely prevents the plaintiff (the injured party) from recovering any damages.
A)True
B)False
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Chapter 7: The Essentials of Contract Law
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Q1) Courts typically award punitive damages in breach of contract cases.
A)True
B)False
Q2) Webtel Services, Inc. and Acme Co. sign a document which states that Webtel Services will create a web page for Acme and that Acme will pay for this work. This is an example of a:
A) bilateral, voidable contract.
B) quasi, unilateral contract.
C) bilateral, express contract.
D) unilateral, implied-in-law contract.
Q3) Ruben promises to pay Talana $200 if she steals Jessica's business law textbook. Talana steals the business law book, but Ruben, who now feels guilty for his act, refuses to pay Talana and asks her to return the book. Discuss ways in which Reuben has breached the contract.
Q4) An informal contract is also known as a(n):
A) void contract.
B) quasi-contract.
C) implied-in-fact contract.
D) simple contract.
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Chapter 8: Offer, Acceptance, and Mutual Assent
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Q1) Silas, very angry because his new car broke down, yells out "Anyone wanna buy a piece of junk for $100?" Ida overhears Silas and says, "I do, here's $100." What result?
A) Silas must sell his car for $100, since his statement was clear and definite.
B) Silas need not sell his car for $100, since he was clearly angry.
C) Silas must sell his car for $100, but only if he were speaking directly to Ida.
D) Silas must sell his car for $100, because his anger does convey serious intent.
Q2) A merchant's firm offer for the sale of goods can exceed three months in duration. A)True B)False
Q3) According to the UCC, a contract for the sale of goods comes into existence when any reasonable means under the circumstances is used to communicate the acceptance.
A)True
B)False
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Chapter 9: Consideration and Cyber-Payments
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Q1) The amendments to the Identity Theft and Assumption Deterrence Act added a new crime to the original statute, called aggravated identity theft.
A)True
B)False
Q2) Danny agrees not to go duck hunting if "Save the Ducks" pays him $100. This is forbearance on Danny's part.
A)True
B)False
Q3) Consideration does not require that the benefits and sacrifices promised between the parties be legal.
A)True
B)False
Q4) The law will not enforce an agreement that has not been bargained for. A)True
B)False
Q5) Sergie orally agrees to pay Zenith Finance Co. a $300 loan debt that was discharged in bankruptcy after Zenith told Sergie that repaying the debt would help him "rebuild his credit", since Zenith would report his payments to credit reporting agencies. Discuss the case.
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Chapter 10: Capacity and Legality: The Final Elements
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Q1) Gail buys a car at the age of 17 and makes regular monthly payments until six months after her 18<sup>th</sup> birthday, when the car is totaled in a wreck. Gail wants to disaffirm the car purchase. The age of adulthood in Gail's state is 18. Discuss.
Q2) When Julie, aged 27, took flu medication, she became very light-headed and confused. Alice, taking advantage of the situation, persuaded Julie to sell her watch that was worth $1,000 to her for $100. Julie later realized what Alice did and decided to take legal action. Which of the following is true as per contract laws?
A) Julie cannot sue Alice since she, as an adult, voluntarily sold the watch.
B) Julie has the right to get her watch back without returning the $100.
C) Alice is allowed to keep the watch and Julie should return the $100.
D) Alice should return the watch and Julie should return the $100.
Q3) The illegal practice of charging more than the amount of interest allowed by law is called:
A) libel.
B) in pari delicto.
C) slander.
D) usury.
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Page 12
Chapter 11: Written Contracts and Cyber-Commerce
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Q1) _________ contracts for the sale of goods of $500 or more are ________________ if the contract _________________________.
A) Oral, enforceable, involves specially manufactured goods that cannot be resold easily
B) Oral, not enforceable, is an executed agreement
C) Written, not enforceable, involves admissions in court
D) Electronic, not enforceable, is a written memorandum
Q2) Jennifer orally contracts to purchase a television for $450. This contract is legally unenforceable.
A)True
B)False
Q3) An exception to the _____________ rule states that if a written agreement depends on some event before it becomes enforceable, __________________ evidence may be offered regarding that _____________________
A) Parol evidence, written, condition precedent.
B) Standard construction, written, condition precedent.
C) Best Evidence, oral, condition precedent.
D) Parol evidence, oral, condition precedent.
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Chapter 12: Third Parties, Discharge, and Remedies
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Q1) When no consideration is given for an assignment, creditors of the assignor may have the assignment rescinded on the grounds that it is a fraudulent conveyance.
A)True
B)False
Q2) Jennifer contracts to purchase Allison's house when Allison is transferred out of the state. The contract calls for monthly payments, but allows Jennifer to pay the remaining balance at any time. Jennifer, on June 1, sends Allison an offer to pay the balance. Allison receives the offer on June 2, but sets it aside until October 1. When Allison realizes that Jennifer has not made any payments for four months, she threatens to sue Jennifer for breach of contract. Discuss the legal rules governing this situation.
Q3) A transfer of a contract right is called a delegation.
A)True
B)False
Q4) If due notice has been given and the obligor makes payment to the assignor, the obligor is excused from making payment to the assignee.
A)True
B)False
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Page 14
Chapter 13: Sales Contracts: Formation, Title, and Risk of Loss
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Q1) Fish not yet caught by a commercial fisher are called future goods.
A)True
B)False
Q2) Merchant A orally enters into a $1,000 contract with Merchant
B. Merchant A will be legally bound if Merchant B sends a written confirmation, even if Merchant A has not signed it.
A)True
B)False
Q3) Massive Equipment Company sends machinery on approval to Mountain Moving Company. While in possession of the machinery, but prior to acceptance, Mountain becomes insolvent. The machinery is subject to the claims of Mountain's creditors.
A)True
B)False
Q4) In an auction with reserve, the auctioneer must accept the highest bid. A)True
B)False
Q5) Big Choppers orally contracts with Jane to make a custom motorcycle for Jane for $30,000. When completed, Jane refuses to accept the motorcycle or pay for it. Discuss the validity of the oral contract.
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Chapter 14: Sales Contracts Rights, Duties, Breach, and Warranties
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Q1) Which of the following is true of a shipment contract?
A) The seller must put the goods in the possession of the carrier.
B) The seller must tender the delivery of goods to the buyer.
C) The seller offers to turn the goods to the buyer, and the buyer offers to pay for them.
D) The seller tenders the delivery of goods to the carrier, along with the document title.
Q2) Tang went into a bicycle shop to purchase a bike rack. He asked the salesperson for help in picking out a rack that would fit his bike. While the salesperson was helping another customer, Tang went ahead and chose one he wanted. The salesperson then told Tang that the rack was a good one. After Tang put the rack on his bike, it did not fit properly and damaged his gear shift. Explain whether Tang can rightfully claim that the salesperson committed a breach of warranty of fitness for a particular purpose.
Q3) A(n) ____________ is any written warranty that does not meet all of the requirements for a full warranty.
A) express warranty
B) limited warranty
C) implied warranty
D) warranty of merchantability
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Page 16
Chapter 15: Product Liability and Consumer Protection
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Q1) Which of the following is true of public interest and public policy?
A) Public interest promotes behaviour complying with the public consensus, while public policy refers to the idea that certain activities affect the entire social structure.
B) Public interest is the consensus and public policy is the coercive social engineering strategy by which that consensus is implemented.
C) Public interest promotes the making of safe goods to coerce the public policy to maintain a social structure that promotes health and safety, and prevents illness and injury.
D) To meet the goal of public policy, public interest insists that manufacturers, sellers, and distributors compensate a victim, who is injured by an unsafe product.
Q2) Joslin orders merchandise by phone from Marginal Enterprises with no stated delivery date. When she does not receive it after a month, she contacts Marginal who indicates that due to a strike at their production plant, delivery that normally takes one month will take two months. Discuss Joslin's legal options.
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Chapter 16: The Nature of Negotiable Instruments
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Q1) A blank indorsement should be used:
A) only for the purpose of deposit or collection.
B) to impose warranty liability on the maker.
C) to reserve more space for other indorsements.
D) only in limited situations.
Q2) A check indorsed "for deposit only":
A) prevents further negotiation of the instrument.
B) requires the amount of the instrument to be credited to the indorser's account before further negotiation occurs.
C) requires the amount of the instrument to be credited to the indorser's account and prevents further negotiation.
D) requires the amount of the instrument to be further indorsed by the payee in person before being credited to the indorser's account.
Q3) The words "without recourse" on an indorsement means the indorser is:
A) liable personally, but not other parties.
B) not liable for any problems associated with the instrument.
C) not liable if the instrument is dishonored.
D) liable for only up to fifty per cent of the loss.
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Chapter 17: Holders in Due Course Defenses and Liabilities
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Q1) In exchange for some illegal drugs, Popka wrote a $500 check to White. Immediately thereafter, Popka stopped payment on the check. Can White recover the $500 from Popka in court? Explain.
Q2) Callaghan bought a bedroom set from a furniture store and signed a consumer credit contract agreeing to pay $150 in 12 monthly installments. The furniture store immediately negotiated the credit contract to a finance company, with which it had an arrangement, and received payment. The furniture turned out to be defective. Discuss if Callaghan can use the defense of defective furniture against the furniture store and the finance company for the money owed.
Q3) The holder in due course of a note discharged in bankruptcy has no hope of collecting any funds.
A)True
B)False
Q4) Tammy purchases a promissory note that has numbers scratched out and rewritten. What legal problem will Tammy encounter in claiming to be a holder in due course of the note?
Q5) Fraud in the inducement is a personal defense.
A)True
B)False
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Chapter 18: Bank-Depositor Relationships and
Cyber-Banking
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Q1) Electronic ____________ is a system in which funds are electronically transferred from a customer's checking account, eliminating the need to process a paper check.
A) fund transfer
B) check transfer
C) check conversion
D) teller system
Q2) Ashton Bank knows that its customer, Juan, has died. One day after Juan's death, Ashton Bank was presented a check for clearing of $3,000. The check was written by Juan a week prior to his death to Bailey Enterprises. Discuss the legal rights of Bailey Enterprises.
Q3) If a bank pays a check in cash to the payee, and the check is returned to the drawer with the next bank statement, the bank's settlement is said to be:
A) provisional.
B) final.
C) in due course.
D) honored.
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Chapter 19: Insurance
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Q1) Sagan forgets to list in his health insurance application that he broke his arm at age five. He is not guilty of fraudulent concealment.
A)True
B)False
Q2) Stanley falls into the low-income group. Which of the following health care plans can Stanley opt for?
A) Medicaid
B) Long-term care insurance
C) Medicare
D) Mediclaim
Q3) Logan's building has a replacement cost of $500,000 and his fire insurance policy has an 80% coinsurance clause. Logan has $200,000 of insurance on the building which is completely destroyed by fire. Discuss how much Logan will collect from the fire insurance policy.
Q4) Universal life insurance allows the policy owner to modify the:
A) face value of the policy and the premiums.
B) face value of the policy, but not the premiums.
C) premiums, but not the face value of the policy.
D) face value of the policy and obtain refunds of premiums already paid.
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Chapter 20: Mortgages and Security Interests
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Q1) According to the UCC, conflicting secured interests are generally resolved:
A) according to whether an attached security interest in inventory has priority over a conflicting security interest in the same inventory.
B) by consumers' perfected security interests of which they have no knowledge.
C) based on whether the seller's inventory prevails over buyers of goods in the ordinary course of business (except farm products).
D) according to priority in time of filing or perfection.
Q2) In which type of mortgage is the loan repaid when the borrower dies or the property is sold?
A) Variable-rate mortgage
B) Conventional mortgage
C) Balloon-payment mortgage
D) Reverse mortgage
Q3) A point is a one-time charge equal to ____________ of the principal amount borrowed.
A) one-tenth
B) three percent
C) one percent
D) ten percent
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Page 22
Chapter 21: Bankruptcy and Debt Adjustment
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Q1) In a voluntary filing, the bankruptcy petition itself becomes the order for relief.
A)True
B)False
Q2) Which chapter of the bankruptcy code allows a federal homestead exemption?
A) Chapter 11
B) Chapter 7
C) Chapter 8
D) Chapter 12
Q3) A(n) ____________ is a self-operating postponement of collection proceedings against the debtor, which goes into effect the moment the order for relief occurs.
A) federal exemption
B) involuntary petition
C) automatic stay
D) means test
Q4) Trudy has a steady income, but is behind on her payment of debts. Trudy wants to pay her debts, but needs some relief from her creditors. Discuss what type of Bankruptcy Procedure would best fit her case.
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Chapter 22: Agency Law
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Q1) Simon sells illegal drugs for JY Laboratories with the understanding that JY Laboratories will receive fifty percent of the gross profits. JY Laboratories fails to honor this agreement. Discuss whether Simon may sue JY Laboratories to enforce the agreement.
Q2) An employer's vicarious liability for its employee's actions is based on the principle of respondeat superior.
A)True
B)False
Q3) Tom, owner of the Rico Apartment Complex, appoints Alice as "General Manager" of the Rico Apartment Complex. Alice enters into several contracts in Tom's name: (1) maintenance agreement with Alpha Enterprises; (2) purchase of cable TV service from Star Ethics for Rico; (3) purchase of a new Corvette for Alice to drive while on Rico business. Discuss which of these contracts bind Tom?
Q4) An agent may not recover compensation for illegal services unless they were rendered at the request of the principal.
A)True
B)False
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Chapter 23: Employment Law
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Q1) Which of the following statements holds true for employee responsibilities under the Family and Medical Leave Act (FMLA)?
A) Employees must notify the employer at least 30 days before they intend to take the leave.
B) Employees need not notify the employer if the need for a leave is unpredictable.
C) Employees must accept the right of the employer to offer reduced pay on their return after the leave.
D) Employees must discharge partial duties during the period of the leave.
Q2) An employee who is addicted to illegal drugs could claim a disability under the ADA.
A)True
B)False
Q3) A contract negotiated by the employer and the labor union that covers all issues related to employment is a(n):
A) option contract.
B) implied contract.
C) collective bargaining agreement.
D) confidentiality agreement.
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Page 25
Chapter 24: Labor Law
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Q1) An employer is barred from playing any role in the selection of union representatives.
A)True
B)False
Q2) Tom is an official of Large Co., a mining company. Tom is paid by Large Co. to be the company spy in union meetings and make reports about the inner workings of the union. Discuss the legal aspects of this situation.
Q3) One of the objectives of labor unions is sponsoring laws that help improve political conditions for workers.
A)True
B)False
Q4) Hamyes Chemical Works allows its employees to be exposed to certain chemicals.
George, an employee, reports this to his union and agrees to testify when the union brings a claim that this is in violation of a union contract. George is immediately discharged from the job. Haymes Chemical Works:
A) has rightly discharged George as his act amounted to breach of trust.
B) would be liable for legal action under the Wagner Act.
C) could be charged with coercion and harassment under the Taft-Hartley Act.
D) is protected under the First Amendment.
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Page 26
Chapter 25: Sole Proprietorships and Partnerships
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Q1) Brylea is paid 10% of the net profits by Delta Partnership as compensation for her work for Delta. Delta ceases business, owing many creditors who attempt to collect from Brylea, asserting that Brylea is a partner. Discuss Brylea's partnership status and liability.
Q2) Mia works as an assistant in a pharmacy. Her receipt of monthly wages, by itself, makes her a partner in the pharmacy.
A)True
B)False
Q3) Arian is a sole proprietor and owes a number of business creditors. The business creditors may sue to:
A) only take Arian's business assets.
B) only take Arian's personal assets.
C) take both Arian's business and personal assets.
D) not take any assets, but only the profits of the business.
Q4) In the Opening Case, PNC Bank vs. Michael Farinacci, the main issue was whether the defendants be held jointly liable under the old law (UPA) or jointly and severally liable under the new law (RUPA).
A)True
B)False
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Page 27
Chapter 26: The Corporate Entity
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Q1) Patricia holds 150 shares of common stock in a large corporation. Patricia:
A) is guaranteed the rights to some of the profits of the corporation.
B) is most likely entitled to two votes for each share of stock she holds.
C) will not be included in the distribution of capital upon dissolution of the corporation.
D) risks whatever money she invested in the 150 shares of common stock.
Q2) The Panon Corporation is incorporated in Tennessee, but its corporate headquarters is in Massachusetts. As a result, the Panon Corporation is:
A) considered a citizen of only Massachusetts.
B) considered a citizen of only Tennessee.
C) not considered a citizen of either Massachusetts or Tennessee.
D) considered a citizen of both Massachusetts and Tennessee.
Q3) Janice requires information about the voting rights of members of Titan, LLC. Which document will contain this information?
A) Articles of incorporation
B) Articles of organization
C) Bylaws
D) Operating agreement
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Chapter 27: Corporate Governance
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Q1) ____________ is based on the belief that because corporate decision making influences more individuals and groups than just the shareholders and the managers, corporate decisions should be made by an impartial group of corporate outsiders.
A) Corporate democracy
B) Governmental control
C) Shareholder democratic control
D) Independent director control
Q2) Michelson was chairman of the board and chief executive officer of a computer manufacturing firm. When considering whether to purchase CompuPrint, the manufacturer of computer printers, Michelson examined CompuPrint's financial records, consulted with legal and financial experts, and conducted an in-depth study of the marketplace and decided that it would be profitable for his corporation to purchase CompuPrint. If CompuPrint turns out to be a poor investment, and a court hears a case challenging Michelson's decision, the court will most likely analyze his conduct based on the ____________ rule.
A) business judgment
B) insider trading
C) fairness
D) shareholder protection
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Chapter 28: Government Regulation of Corporate Business
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Q1) If Auto Supply refuses to sell hoses to Small Retail Co. unless Small also buys brake shoes from Auto, the action will be prohibited by the Clayton Act.
A)True
B)False
Q2) A receiver is an individual appointed by the shareholders to hold property subject to diverse claims.
A)True
B)False
Q3) The first major expansion of the Commerce Clause of the U.S. Constitution was done through which of these?
A) The Dodd Frank Act
B) Wickard v. Filburn
C) Gibbons v. Ogden
D) The Securities Exchange Act
Q4) Tremendous LLC proposes to merge with Small LLC. Janice, a member of Tremendous, is opposed to this merger. The operating agreement allows mergers to be approved by a simple majority vote. Discuss the legal rights Janice may assert in this situation.
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Chapter 29: Personal Property and Bailments
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Q1) Paulina rented a room at the Desert Inn Hotel and left her diamond ring on the dresser in her room when she went to dinner. When she returned, the ring was gone. Paulina discovered that the room door did not automatically lock when she closed it; instead it required her to use her key. Is Desert Inn liable for her loss?
A) Yes, since innkeepers are insurers of their guest's property.
B) No, since Paulina was negligent in determining that her room door was not locked.
C) Yes, since innkeepers are in a bailment relationship regarding guest's property.
D) No, since Paulina must inquire about Desert Inn's security system.
Q2) ____________ is the reward given to persons who voluntarily assist a sinking ship or recover its cargo from peril or loss.
A) Gift in causa mortis
B) Chose in action
C) Salvage
D) Severalty
Q3) A transient guest at a hotel is a guest whose length of stay is fixed.
A)True
B)False
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Page 31
Chapter 30: Real Property and Landlord and Tenant Law
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Q1) When two or more persons own real property as tenants in common, each person owns an undivided share of the whole property.
A)True
B)False
Q2) In a joint tenancy, time, title, interest, and possession are known as the four: A) certainties.
B) factors.
C) unities.
D) components.
Q3) Martina flew her ultra light airplane 200 feet above the surface of a vacant lot owned by Jacobs. When Jacobs complained, Martina claimed she was flying in navigable airspace. Was Martina correct? Explain.
Q4) Real estate is defined as the ownership rights that go along with the land and everything temporarily or permanently attached to it. A)True B)False
Q5) Some states authorize landlords to use force to evict tenants. A)True B)False
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Chapter 31: Wills, Trusts, and Advanced Directives
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Q1) If Tano dies without a will, he dies:
A) testate.
B) intestate.
C) interstate.
D) testator.
Q2) Carolyn signs a handwritten will without witnesses. Such a will is called a holographic will.
A)True
B)False
Q3) Stepchildren are given the same legal rights under estate law as natural children. A)True
B)False
Q4) Carl has his lawyer prepare his will. Wanting to make a few minor changes, Carl places some handwritten words in the margins, initials them, and scratches out words in the typed text. Carl's changes:
A) create a codicil.
B) create a new will.
C) amend the typed will.
D) are legally ineffective.
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Chapter 32: Professional Liability
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Q1) If Nadia, a licensed physician, operated on a patient without consent, Nadia could be guilty of battery.
A)True
B)False
Q2) Big Co. has made a variety of unsecured, undisclosed, large personal loans to top management officials. Belinda audits Big and discovers this problem. Discuss what type of audit opinion Belinda is likely to issue.
Q3) For a patient to succeed in a negligence case against a health care professional, the patient must demonstrate that the health care provider owed a duty to that patient.
A)True
B)False
Q4) Betty is unhappy with her physician, Todd, and wants a copy of her medical records to be able to consult another physician. Todd says the records are his work product and his property. Discuss the likely outcome of this dispute.
Q5) GAAP was created by the FASB.
A)True
B)False
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34
Chapter 33: The Intersection of Law and Science
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Q1) Sienna runs a restaurant. The barbeque chicken that is served in the restaurant is famous and draws a large crowd. Sienna follows a special process of preparing the chicken. This process is not known to anyone except Sienna and her cook. Does this process of barbequing chicken qualify as a trade secret?
Q2) A ____________ is a property right granted by the federal government to an inventor.
A) patent
B) copyright
C) royalty
D) trademark
Q3) The three issues that author Robert Heilbroner thought would challenge the existence of the human race are: (1) ____________, (2) the challenge of uncontrolled population growth, and (3) the destruction of the environment.
A) terrorism
B) nuclear war
C) incurable communicable diseases
D) death of the sun
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Chapter 34: International Law
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Q1) All of the following are covering laws except for:
A) a characterization of the global scene.
B) a description of the chief actor on the global scene.
C) a realpolitik description of the morality of the decision.
D) special considerations that must be factored into any international study.
Q2) ____________ history is a technique for determining how world leaders will probably act in a given world order when facing a crisis or mapping out a future global strategy.
A) International initial conditions
B) Predictive political
C) International behavior
D) Realpolitik
Q3) Tobyland is a developing nation and needs five million dollars to build dams and flyovers. Which international organization will give Tobyland a loan of five million dollars?
Q4) Corzina, a small nation-state, has been attacked by its neighbor, Troy. Another nation-state, Rutland is a friend of Corzina's, but has problems with Troy. Finding this to be the best opportunity, Rutland attacks Troy, defeats Troy, and takes control over its government and the civilian population. Is the cause and intention of Rutland just?
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