E-Commerce Law
Mock Exam
Course Introduction
E-Commerce Law explores the legal principles and regulatory frameworks that govern online business activities. The course covers topics such as electronic contracts, digital signatures, privacy and data protection, intellectual property rights in the digital environment, jurisdictional issues, consumer protection, and legal considerations for online payment systems. Students will analyze current laws and regulations, case studies, and practical scenarios to understand how legal issues impact electronic transactions and digital business operations, preparing them to navigate the complex legal landscape of e-commerce.
Recommended Textbook
Contemporary Business and Online Commerce Law 7th Edition by Henry R. Cheeseman
Available Study Resources on Quizplus
41 Chapters
5608 Verified Questions
5608 Flashcards
Source URL: https://quizplus.com/study-set/588
Page 2
Chapter 1: Legal Heritage and the Information Age
Available Study Resources on Quizplus for this Chatper
123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/10985
Sample Questions
Q1) The executive branch of government is empowered to issue executive orders.This power is derived from express delegation from the judicial branch and is implied from English common law.
A)True
B)False
Answer: False
Q2) The doctrine of stare decisis provides that each court decision is independent and should stand on its own.
A)True
B)False
Answer: False
Q3) The Historical School of jurisprudence believes that the law should not change and that what has historically been the law should remain the law.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Constitutional Law for Business and
E-Commerce
Available Study Resources on Quizplus for this Chatper
126 Verified Questions
126 Flashcards
Source URL: https://quizplus.com/quiz/10986
Sample Questions
Q1) There are extensive federal regulations covering airplanes and pilots.Assume that the state of Missouri passes a statute containing numerous requirements,some conflicting with the federal rules,covering the licensing of airplane pilots and the operation of aircraft.A pilot's constitutional challenge to this state statute would most likely succeed on the basis of:
A) the preemption doctrine.
B) the Equal Protection Clause.
C) substantive due process.
D) the state police power.
E) the exclusive doctrine.
Answer: A
Q2) The legislative branch of the federal government can change laws that have been interpreted by the United States Supreme Court.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Courts and Jurisdiction
Available Study Resources on Quizplus for this Chatper
125 Verified Questions
125 Flashcards
Source URL: https://quizplus.com/quiz/10987
Sample Questions
Q1) Which of the following is not a special federal court established by the United States Congress?
A) U.S. Tax Court
B) U.S. Court of Federal Claims
C) U.S. Court of International Trade
D) U.S. Court of Intrastate Commerce
E) U.S. Bankruptcy Court
Answer: D
Q2) There are ________ circuits in the federal court system.
A) twelve (12)
B) thirteen (13)
C) fourteen (14)
D) fifteen (15)
E) sixteen (16)
Answer: B
Q3) If a U.S Supreme Court decision results in a tie vote,the case is remanded to the Court of Appeals for a new trial.
A)True
B)False
Answer: False
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Judicial, Alternative, Administrative, and E-Dispute Resolution
Available Study Resources on Quizplus for this Chatper
121 Verified Questions
121 Flashcards
Source URL: https://quizplus.com/quiz/10988
Sample Questions
Q1) The answer names the parties to the lawsuit,alleges the ultimate facts and law violated,and contains a "prayer for relief" for a remedy to be awarded by the court.
A)True
B)False
Q2) The defendant bears the burden of proof to persuade the trier of fact of the merits of the case.
A)True
B)False
Q3) If several plaintiffs have filed separate lawsuits stemming from the same fact situation against the same defendant,the court can ________ the cases into one case if doing so would not cause undue prejudice to the parties.
A) collaborate
B) consolidate
C) integrate
D) merge
E) disassociate
Q4) The discovery process is an integral part of the pre-trial process that serves a variety of functions.Discuss these functions and their importance.
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Torts and Strict Liability
Available Study Resources on Quizplus for this Chatper
155 Verified Questions
155 Flashcards
Source URL: https://quizplus.com/quiz/10989
Sample Questions
Q1) Assuming that statutory requirements are met,what is protected under merchant protection statutes?
A) Merchants are protected from the intentional torts of their customers.
B) Merchants are protected from product disparagement claims of their competitors.
C) Merchants are protected from product disparagement claims of their suppliers.
D) Merchants are protected from false imprisonment claims of persons reasonably detained on suspicion of shoplifting.
E) Customers are protected from the negligent conduct of merchants.
Q2) A participant in an activity subject to strict liability is liable for damages even if there is no fault on the part of the participant.
A)True
B)False
Q3) When a student states in a written student evaluation that her professor is boring and uninspiring,if in fact her professor has won the professor of the year award for the past three years,she is committing libel.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Criminal Law and Cyber Crimes
Available Study Resources on Quizplus for this Chatper
152 Verified Questions
152 Flashcards
Source URL: https://quizplus.com/quiz/10990
Sample Questions
Q1) A lawsuit for any torts connected with a crime must be brought by the victim in a lawsuit that is separate from the criminal case.
A)True
B)False
Q2) In a criminal lawsuit,a private party is the plaintiff.
A)True
B)False
Q3) Probable cause is most directly associated with which step of the criminal process?
A) arrest
B) indictment
C) plea bargaining
D) arraignment
E) jury deliberations
Q4) In a "hung jury" scenario,the government may choose to retry the case before the same trial court judge and jury.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Intellectual Property and Cyber Piracy
Available Study Resources on Quizplus for this Chatper
155 Verified Questions
155 Flashcards
Source URL: https://quizplus.com/quiz/10991
Sample Questions
Q1) Each of the following is a word that has lost its trademark due to generic use except:
A) escalator.
B) nylon.
C) cornflakes.
D) yo-yo.
E) Google.
Q2) Applications for patents must be filed with the U.S.Patent and Trademark Office (PTO)in Washington,D.C.
A)True
B)False
Q3) A competitor can lawfully discover a trade secret by performing reverse engineering.
A)True
B)False
Q4) An author must file a timely application in order to receive copyright protection.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Ethics and Social Responsibility of Business
Available Study Resources on Quizplus for this Chatper
134 Verified Questions
134 Flashcards
Source URL: https://quizplus.com/quiz/10992
Sample Questions
Q1) Someone who believes that the principles of justice and moral duties are based on universal rules,and that the actor must abide by the same rules being applied to others,believes in which moral theory?
A) ethical relativism
B) utilitarianism
C) ethical fundamentalism
D) Kantian ethics
E) Rawls's distributive justice theory
Q2) The theory of basing ethical business conduct on stakeholder interest is widely accepted because it is usually possible for businesses to balance stakeholder interests so that each stakeholder is satisfied and protected.
A)True
B)False
Q3) Ethical relativism holds that individuals must decide what is ethical based on their own feelings about what is right and wrong.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
10
Chapter 9: Nature of Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
154 Verified Questions
154 Flashcards
Source URL: https://quizplus.com/quiz/10993
Sample Questions
Q1) Frank says to Mary,"If you wash every window in my house today,I'll pay you $200.I don't care if you do it,but there is $200 in it for you if you do." Mary washes 12 of the 20 windows in Frank's house by 2:00 p.m.At this point:
A) Frank can revoke his offer to pay Mary the $200 for washing the windows.
B) Mary is obligated to finish washing the windows.
C) Frank cannot revoke his offer to pay Mary $200 for washing the windows.
D) no contract can be established based upon the given facts.
E) Frank and Mary have a formal, executed contract.
Q2) The doctrine of quasi-contract is intended to prevent unjust enrichment,but not unjust detriment.
A)True
B)False
Q3) The common law of contracts developed from early court decisions that became precedent for later decisions.
A)True
B)False
Q4) Informal contracts are always oral.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Agreement and Consideration
Available Study Resources on Quizplus for this Chatper
158 Verified Questions
158 Flashcards
Source URL: https://quizplus.com/quiz/10994
Sample Questions
Q1) If no time is stated in the offer,for how long is an offer open?
A) ten days
B) one month
C) fourteen days
D) six months
E) for a reasonable time dictated by the circumstances
Q2) The words "agreement" and "________ " are often used interchangeably.
A) invitation to negotiate
B) offer
C) acceptance
D) contract
E) solicitation
Q3) Gift promises are also called fortuitous promises.
A)True
B)False
Q4) Generally,a price term can be implied if there is a market or source from which to determine the price of the item or service.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
143 Verified Questions
143 Flashcards
Source URL: https://quizplus.com/quiz/10995
Sample Questions
Q1) Minors are liable for the contract price of any necessaries of life for which they contract.
A)True
B)False
Q2) Minors are obligated to pay for the ________ for which they contract.
A) necessaries
B) services
C) personal property
D) intellectual property
E) real property
Q3) A person who has dealt with an insane person must place the insane person in status quo if the contract between them is void; however,a person who has dealt with an insane person need not place the insane person in status quo if their contract is voided by the insane person.
A)True
B)False
Q4) The infancy doctrine gives minors the right to disaffirm most contracts they have entered into with adults.
A)True
B)False
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Genuineness of Assent and Statute of Frauds
Available Study Resources on Quizplus for this Chatper
168 Verified Questions
168 Flashcards
Source URL: https://quizplus.com/quiz/10996
Sample Questions
Q1) To establish undue influence,the dominant party must have unduly used his or her influence to persuade the servient party to enter into a contract.
A)True
B)False
Q2) Fraud in the inducement is also known as fraud in the factum.
A)True
B)False
Q3) When interpreting a contract with contradictory language,a specific term will take precedence over a conflicting general provision.
A)True
B)False
Q4) Mark went to an antique auto auction where a car was advertised as Elvis Presley's Cadillac.Mark ended up being the high bidder on the car.It was later discovered that unbeknownst to the auction house,this car had never belonged to Elvis Presley.What can Mark do in this situation?
Q5) Usually,a misrepresentation of law is not actionable as fraud.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Third-Party Rights and Discharge
Available Study Resources on Quizplus for this Chatper
150 Verified Questions
150 Flashcards
Source URL: https://quizplus.com/quiz/10997
Sample Questions
Q1) Which of the following statements is correct regarding anti-delegation clauses?
A) Anti-delegation clauses are usually enforced.
B) Anti-delegation clauses are usually enforced in equity, rather than by law.
C) Anti-delegation clauses are not enforceable.
D) Anti-delegation clauses are not enforceable if they pertain to contracts for "blue-collar" services.
E) Anti-delegation clauses are not enforceable if they pertain to contracts for professional services.
Q2) If a contract requires the occurrence or nonoccurrence of an event before a party is obligated to perform a contractual duty,this is a condition antecedent.
A)True
B)False
Q3) A(n)________ assignment clause prohibits the assignment of rights under the contract.
A) pro-
B) quasi-
C) anti-
D) non-delegable
E) implied
To view all questions and flashcards with answers, click on the resource link above.
Page 15
Chapter 14: Breach of Contract and Remedies
Available Study Resources on Quizplus for this Chatper
143 Verified Questions
143 Flashcards
Source URL: https://quizplus.com/quiz/10998
Sample Questions
Q1) A writ of garnishment orders the sheriff to seize property in the possession of the breaching party and sell the property at auction to satisfy the judgment.
A)True
B)False
Q2) When one party substantially,but not completely,performs a contract,creating a minor breach,which of the following remedies may the aggrieved party choose?
A) deduct the cost necessary to complete performance from the payment due to the breaching party
B) sue the breaching party for the cost to complete performance
C) rescind the contract.
D) deduct the cost necessary to complete performance from the payment due to the breaching party, sue the breaching party for the cost to complete performance, or rescind the contract
E) deduct the cost necessary to complete performance from the payment due to the breaching party, or sue the breaching party for the cost to complete performance
To view all questions and flashcards with answers, click on the resource link above.
16
Chapter 15: Digital Law and E-Commerce
Available Study Resources on Quizplus for this Chatper
114 Verified Questions
114 Flashcards
Source URL: https://quizplus.com/quiz/10999
Sample Questions
Q1) Spam accounts for approximately twenty-five percent of all business e-mail traffic.
A)True
B)False
Q2) Assuming that all of the elements to establish a contract are present,an e-mail contract is enforceable.
A)True
B)False
Q3) The suffix ".pro" is not a valid top-level suffix for a domain name.
A)True
B)False
Q4) Which of the following is not one of the most commonly used top-level extensions for domain names?
A) .edu
B) .org
C) .com
D) .net
E) .med
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Formation of Sales, Lease, and E-Contracts
Available Study Resources on Quizplus for this Chatper
127 Verified Questions
127 Flashcards
Source URL: https://quizplus.com/quiz/11000
Sample Questions
Q1) UCC Article 2 defines a good as tangible things that are movable.
A)True
B)False
Q2) Under the UCC,the buyer or seller can reserve the right to set the price at a later date.
A)True
B)False
Q3) Article 2 and Article 2(A)of the UCC cover which types of transactions?
A) sales of goods and sales of real property
B) sales of goods and leases of goods or real property
C) sales of goods and contracts for the providing of services
D) sales of goods and leases of goods
E) sales of goods and leases of services
Q4) A lessor is the person who transfers the right of possession and use of goods under the lease.
A)True
B)False
Q5) Should UCC Article 2 and Article 2A apply to services? What are the benefits and difficulties that would arise if UCC Article 2 and 2A applied to services?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Performance of Sales, Leases and E-Contracts
Available Study Resources on Quizplus for this Chatper
128 Verified Questions
128 Flashcards
Source URL: https://quizplus.com/quiz/11001
Sample Questions
Q1) Which of the following is a conditional sale?
A) entrustment sale
B) good faith sale
C) a sale by a merchant to a buyer in the ordinary course of business.
D) consignment
E) bailment
Q2) In a contract for the sale of goods,identification of the goods is significant because it:
A) allows the contract to be a destination contract.
B) is the earliest that title can pass.
C) determines when a document of title is needed.
D) determines when the implied warranties become effective.
E) determines whether a party is entitled to specific performance.
Q3) If a buyer breaches a sales contract,the buyer only bears the risk of loss after the breach has occurred and not before.
A)True
B)False
Q4) One way to create a shipment contract is to include the term Ex-ship.
A)True
B)False
19
To view all questions and flashcards with answers, click on the resource link above.
Chapter 18: Remedies for Breach of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
138 Verified Questions
138 Flashcards
Source URL: https://quizplus.com/quiz/11002
Sample
Questions
Q1) What is the term for the buyer's right to make the shipment conform under some circumstances if the buyer delivers nonconforming goods?
A) the time to conform rule
B) the right to make perfect
C) the reasonable delay doctrine
D) the right to cure
E) the good faith obligation
Q2) If the goods or tender of delivery fail in any respect to conform to the contract,the buyer or lessee may opt (1)to reject the whole shipment,(2)to accept the whole shipment,or (3)to reject part and accept part of the shipment.
A)True
B)False
Q3) Unless otherwise agreed,the buyer or lessee has the right to inspect goods that are tendered,delivered,or identified in a sales or lease contract prior to accepting or paying for them.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 20
Chapter 19: Warranties and Product Liability
Available Study Resources on Quizplus for this Chatper
129 Verified Questions
129 Flashcards
Source URL: https://quizplus.com/quiz/11003
Sample Questions
Q1) To be successful,the plaintiff in a negligence case must prove that the defendant breached a duty of due care owed to any person and that the plaintiff was injured.
A)True
B)False
Q2) Little Bobby,who is 5 years old,finds his older brother's "Extendo Sword",a toy sword about a foot long that is sharp and springs out to 5 feet long when a button is pushed on the handle.The label on the sword says it is safe for children over 3 years of age.Bobby pushes the button when the sword is pointed toward his face and,just as all properly functioning "Extendo Swords" do,the sword shot out.Bobby is injured and under products liability,sues the toy store that sold the toy.Bobby will most likely:
A) lose because of contributory negligence.
B) lose if he cannot prove negligence on the part of the toy store.
C) win on the basis of a manufacturing defect.
D) win on the basis of a design defect.
E) lose if the defendant can show that the sword was a state of the art design.
Q3) Punitive damages are not allowed in strict liability actions.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 21
Chapter 20: Creation and Transfer of Negotiable Instruments
Available Study Resources on Quizplus for this Chatper
162 Verified Questions
162 Flashcards
Source URL: https://quizplus.com/quiz/11004
Sample Questions
Q1) A time draft is payable on sight.
A)True
B)False
Q2) If the maker or drawer of a nonnegotiable contract fails to pay it,the holder of the contract can sue the non-performing party for breach of contract.
A)True
B)False
Q3) The "maker" is a party to a note,but is not a party to a draft.
A)True
B)False
Q4) An I.O.U.is another form of note that is considered to be a promise to pay.
A)True
B)False
Q5) A promissory note is an unconditional written order by one party (the drawer)that orders a second party (the drawee)to pay money to a third party (the payee).
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 21: Holder in Due Course and Liability of Parties
Available Study Resources on Quizplus for this Chatper
123 Verified Questions
123 Flashcards
Source URL: https://quizplus.com/quiz/11005
Sample Questions
Q1) ________ means honesty in fact in the conduct or transaction concerned.
A) Due diligence
B) Ethics
C) Good faith
D) Equity
E) Transparency
Q2) Which of the following is true?
A) The maker of a note has primary liability upon signing a note, but the drawer of a check does not have primary liability upon signing the check.
B) The maker of a note has primary liability upon signing the note, and the drawer of a check has primary liability upon signing the check.
C) The maker of a note has primary liability upon signing the note, and the drawee of a check has primary liability upon the drawer's signing of the check.
D) The drawer of check has primary liability upon signing the check, but the maker of a note does not have primary liability upon signing the note.
E) The maker of a note does not have primary liability upon signing the note, nor does the drawer of a check upon signing the check.
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Banking System, E-Money, and Financial Reform
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/11006
Sample Questions
Q1) Which of the following is not a party to a check?
A) the drawer
B) the drawee
C) the maker
D) the payee
E) the payer bank
Q2) If the same wrongdoer engages in a series of forgeries or alterations on the same account,the customer must report that the payer bank within a reasonable period of time,not exceeding ________ from the date that the bank statement was made available to the customer.
A) thirty (30) days
B) sixty (60) days
C) ninety (90) days
D) six (6) months
E) one (1) year
Q3) Banks are liable for any damages caused by paying any postdated check prior to its date.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 23: Credit and Secured Transactions
Available Study Resources on Quizplus for this Chatper
147 Verified Questions
147 Flashcards
Source URL: https://quizplus.com/quiz/11007
Sample Questions
Q1) How should the Internet affect the rules for attachment and perfection of security interests?
Q2) The purpose of a mechanic's lien is to give the homeowner a way to collect against a person who provides inadequate materials for home building or repair.
A)True
B)False
Q3) Assume Bobby wants to buy a house priced at $150,000.He pays $50,000 down,and borrows $100,000 from First Bank.On January 2,Bobby gives First Bank a mortgage on the home for $100,000,but First Bank forgets to record the mortgage until August 1.On March 1 Bobby obtains a home equity loan of $100,000 from Second Bank.Bobby does not tell Second Bank that there is another loan outstanding on the house.Second Bank records a mortgage on the home on March 2.Bobby defaults on both loans and leaves town.Assuming the home can be sold for $150,000,who would be entitled to those funds,and why?
Q4) In a credit transaction,the borrower is the debtor,and the lender is the creditor. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 25
Chapter 24: Bankruptcy and Reorganization
Available Study Resources on Quizplus for this Chatper
124 Verified Questions
124 Flashcards
Source URL: https://quizplus.com/quiz/11008
Sample Questions
Q1) Once appointed,a bankruptcy ________ becomes the legal representative of the debtor's estate.
A) conservator
B) guardian
C) referee
D) trustee
E) agent
Q2) Attorneys representing debtors in a bankruptcy proceeding are subject to fines and sanctions if the information contained in the bankruptcy petition and schedules is wrong.
A)True
B)False
Q3) The majority of Chapter 11 proceedings are filed by corporations that want to reorganize their capital structure by receiving discharge of a portion of their debts.
A)True
B)False
Q4) Bankruptcy law is exclusively federal law; there are no state bankruptcy laws.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: Agency Law
Available Study Resources on Quizplus for this Chatper
140 Verified Questions
140 Flashcards
Source URL: https://quizplus.com/quiz/11009
Sample Questions
Q1) An agent generally is not liable for contracts made in connection with a fully-disclosed agency.
A)True
B)False
Q2) Implied authority is the authority that the third party may reasonably assume the agent possesses.
A)True
B)False
Q3) In most states,a real estate broker's contract to sell real estate must be in writing.
A)True
B)False
Q4) A principal is liable for the innocent,but not the intentional,misrepresentations made by an agent acting within the scope of employment.
A)True
B)False
Q5) A principal can authorize an independent contractor to enter into contracts.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Small Business, Entrepreneurship, and Partnerships
Available Study Resources on Quizplus for this Chatper
148 Verified Questions
148 Flashcards
Source URL: https://quizplus.com/quiz/11010
Sample Questions
Q1) In the absence of an agreement to the contrary,all general partners have a(n)________ right to participate in the management of the general partnership business.
A) conditional B) qualified C) express D) equal
E) disproportionate
Q2) If a limited partner personally guarantees the repayment of a loan to a limited partnership,the creditor may enforce the personal guarantee and recover payment from the limited partner who personally guaranteed the repayment of the debt.
A)True
B)False
Q3) Manny,Moe and Jack form a general partnership to operate a flower shop.After three years,the business has gone so well that they have expanded to twenty-four profitable shops.Each is married with children.Suddenly,Jack died.What happens to the partnership,the assets and the profits of the business?
Q4) Why should a sole proprietor be personally liable for the torts and contracts of a business?
28
To view all questions and flashcards with answers, click on the resource link above.
Chapter 27: Corporate Formation and Financing
Available Study Resources on Quizplus for this Chatper
122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/11011
Sample Questions
Q1) What makes a "publicly-held" corporation different from a "public" corporation?
A) A publicly-held corporation has many shareholders, while a public corporation is a corporation owned by a governmental entity.
B) A publicly-held corporation is entitled to limited liability, but a public corporation is not.
C) A publicly-held corporation must have a charitable purpose, while a public corporation need not have a charitable purpose.
D) A public corporation is entitled to limited liability, but a publicly-held corporation is not.
E) Both terms have the same meaning.
Q2) Most cities and towns are formed as "quasi-private" corporations.
A)True
B)False
Q3) Corporations are treated,in effect,as artificial persons created by the state.
A)True
B)False
Q4) Debt securities are also called variable income securities.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 29
Chapter 28: Corporate Governance and Sarbanes-Oxley Act
Available Study Resources on Quizplus for this Chatper
122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/11012
Sample Questions
Q1) On the board of directors of a corporation,an outside director is a director who is not also an officer of the corporation.
A)True
B)False
Q2) The duty of ________ requires corporate directors and officers to use diligence when acting on behalf of the corporation.
A) care
B) loyalty
C) good faith
D) obedience
E) a fiduciary
Q3) Which of the following is not one of the common committees found on boards of directors?
A) audit committee
B) nominating committee
C) litigation committee
D) dividends committee
E) executive committee
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Corporate Acquisitions and Multinational Corporations
Available Study Resources on Quizplus for this Chatper
126 Verified Questions
126 Flashcards
Source URL: https://quizplus.com/quiz/11013
Sample Questions
Q1) Even if management is not in favor of a shareholder resolution,a shareholder has a right to have the resolution included in the corporation's proxy materials if it:
A) relates to the corporation's business.
B) concerns a policy issue.
C) does not concern the payment of dividends.
D) relates to the corporation's business, concerns a policy issue, or concerns the payment of dividends.
E) relates to the corporation's business, concerns a policy issue, and does not concern the payment of dividends.
Q2) The United States Treasury Department administers and enforces laws pertaining to proxies and proxy contests.
A)True
B)False
Q3) A short-form merger procedure is simpler than an ordinary merger.
A)True
B)False
Q4) Explain what a "poison pill" is,and how it affects business dealings.
To view all questions and flashcards with answers, click on the resource link above. Page 31
Chapter 30: Limited Liability Company and Limited Liability Partnership
Available Study Resources on Quizplus for this Chatper
122 Verified Questions
122 Flashcards
Source URL: https://quizplus.com/quiz/11014
Sample Questions
Q1) Each member of a member managed limited liability company has rights in the management of the business of the limited liability company based upon the amount of the capital contribution,and those rights may not be modified by agreement.
A)True
B)False
Q2) A limited liability company may do business in states other than the state in which it is organized.To do so,the LLC must register as a(n)________ LLC in any state in which it wants to conduct business.
A) "close"
B) closely-held
C) domestic
D) foreign
E) alien
Q3) A member is personally liable for the debts of a limited liability company if he or she personally guarantees the repayment of the limited liability company's debts.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 32
Chapter 31: Franchise and Special Forms of Business
Available Study Resources on Quizplus for this Chatper
109 Verified Questions
109 Flashcards
Source URL: https://quizplus.com/quiz/11015
Sample Questions
Q1) Under the Federal Trade Commission "franchise rule," a franchisor may make sales projections for a potential franchisee based on sales of an existing franchise,but not on sales of a hypothetical franchise.
A)True
B)False
Q2) Franchise agreements commonly set forth training requirements.
A)True
B)False
Q3) Over-extensive covenants not to compete are nevertheless enforceable if they are included in franchise agreements.
A)True
B)False
Q4) A franchise arrangement is typically used in a situation where there is no trademark or other intellectual property owned by the franchisor.
A)True
B)False
Q5) McDonald's does not grant exclusive geographical territories to its franchisees. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 33
Chapter 32: Investor Protection,E-Securities
Transactions,and Wall Street Reform
Available Study Resources on Quizplus for this Chatper
139 Verified Questions
139 Flashcards
Source URL: https://quizplus.com/quiz/11016
Sample Questions
Q1) Private parties who have been injured by certain securities violations may bring a civil action against the violator under Section 12 of the Securities Act of 1933.
A)True
B)False
Q2) Section 16(a)of the Securities Exchange Act of 1934 defines any person who is an executive officer,a director,or a 10-percent shareholder of an equity security of a reporting company as a "statutory insider" for Section 16 purposes.
A)True
B)False
Q3) Under the "small offering" exemption of the Securities Act of 1933,securities can be sold to an unlimited number of accredited and unaccredited investors.
A)True
B)False
Q4) Criminal prosecutions of violations of federal securities laws are brought by state attorneys general.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 34
Chapter 33: Antitrust Law
Available Study Resources on Quizplus for this Chatper
153 Verified Questions
153 Flashcards
Source URL: https://quizplus.com/quiz/11017
Sample Questions
Q1) Which of the following best describes the activities allowable under the Noerr doctrine?
A) Competitors can work together to lobby for passage of laws without being in violation of the antitrust laws, as long as their petition is not baseless.
B) Competitors can agree on the prices at which they will sell their products, when the agreement results in lower prices for consumers.
C) Mergers will be allowed under the antitrust laws when one of the companies would have failed in the absence of a merger.
D) A company is free to compete or not compete with any other business, so long as the decision is made unilaterally.
E) Competitors can agree on the prices at which they will sell their products, so long as the products are readily available.
Q2) Because the common law could not deal effectively with monopolies,the United States Congress enacted a comprehensive system of antitrust laws to limit anticompetitive behavior.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Consumer Safety, Consumer Financial
Protection, and Environmental Protection
Available Study Resources on Quizplus for this Chatper
130 Verified Questions
130 Flashcards
Source URL: https://quizplus.com/quiz/11018
Sample Questions
Q1) The Consumer Product Safety Commission (CPSC)is empowered to conduct research on the safety of consumer products.
A)True
B)False
Q2) The term caveat emptor means "to the winner goes the spoils."
A)True
B)False
Q3) Advertising is false and deceptive under Section 5 of the FTC Act if it contains misinformation or omits important information that is likely to mislead a "reasonable consumer."
A)True
B)False
Q4) Statements of opinion and "sales talk" do not constitute false and deceptive advertising.
A)True
B)False
Q5) "Bait and switch" is a type of deceptive advertising found in the fishing industry.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 35: Labor, Worker Protection, Employment, and Immigration Law
Available Study Resources on Quizplus for this Chatper
164 Verified Questions
164 Flashcards
Source URL: https://quizplus.com/quiz/11019
Sample Questions
Q1) Illegal strikers may be discharged by the employer,but they have legal rights to reinstatement.
A)True
B)False
Q2) Marsha works for a factory as an assembler on an assembly line.She is an hourly worker and is not paid for lunch time.Everyone takes lunch at the same time,as the line shuts down from noon to 12:30 pm.One lunch period she slips on some spilled coffee in the company cafeteria and breaks her leg.Is she entitled to workers' compensation?
A) no, because she was "off the clock"
B) no, because eating is not a work-related function
C) yes, because it was a company cafeteria operating during normal business hours
D) yes, because she likely would not have been injured had she left the premises during lunch, so fairness requires that she be covered
E) yes, if the employer knew the coffee had been spilled and yet did nothing to remedy the situation; however, if the employer was not aware of the danger, the employer would not be required to pay Marsha workers' compensation benefits
To view all questions and flashcards with answers, click on the resource link above.
Page 37
Chapter 36: Equal Opportunity in Employment
Available Study Resources on Quizplus for this Chatper
128 Verified Questions
128 Flashcards
Source URL: https://quizplus.com/quiz/11020
Sample Questions
Q1) The Equal Employment Opportunity Commission is industry-sponsored,and is comprised of equal numbers of members from management and from labor.
A)True
B)False
Q2) Often,disparate impact discrimination is proven through statistical data about the employer's employment practices.
A)True
B)False
Q3) Because e-mail is usually read privately at one's desk,employers cannot inspect the contents of employee e-mail messages as a way to try to prevent sexual harassment in the workplace.
A)True
B)False
Q4) What are some of the problems that employers face with respect to sexual harassment? What can an employer do to minimize its liability exposure in this area?
Q5) Not all affirmative action plans enacted by private employers are illegal.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 38
Chapter 37: Personal Property, Bailment, and Insurance
Available Study Resources on Quizplus for this Chatper
181 Verified Questions
181 Flashcards
Source URL: https://quizplus.com/quiz/11021
Sample Questions
Q1) What is the logic behind the three different levels of duty of care owed for bailments,depending on who benefits from the bailment? Should these distinctions be eliminated? If so,what is the appropriate level of care to apply to all bailments?
Q2) A bailment without a fixed term is called a(n)________.
A) constructive bailment
B) quasi-bailment
C) bailment in perpetuity
D) implied bailment
E) bailment at will
Q3) Which of the following best describes an "umbrella" insurance policy?
A) a policy that covers more than one type of risk
B) a policy that provides coverage beyond the dollar limits of the insured's other policies
C) a policy that covers damage caused exclusively by rain
D) a policy that covers risks to a business
E) a policy that combines life insurance and fire insurance protection
Q4) What are the advantages and disadvantages of "no-fault" automobile insurance? What is the purpose of no-fault coverage? Should no-fault coverage be mandatory,optional,or not offered? Give reasons for your answer.
To view all questions and flashcards with answers, click on the resource link above.
Page 39
Chapter 38: Real Property, Landlord-Tenant Law, and Land Use Regulation
Available Study Resources on Quizplus for this Chatper
158 Verified Questions
158 Flashcards
Source URL: https://quizplus.com/quiz/11022
Sample Questions
Q1) Jon has sold the rights to extract natural gas from beneath his property to the Reval Corporation.Reval has purchased (a)n:
A) easement.
B) license.
C) profit.
D) mortgage.
E) fee simple defeasible.
Q2) An easement by prescription:
A) creates ownership of the land in question.
B) creates a permanent right of use in the land in question.
C) creates a temporary right of use in the land in question.
D) occurs when landlocked property is purchased.
E) creates a freehold estate.
Q3) Which of the following is not a type of commercial lease?
A) gross lease
B) double gross lease
C) net lease
D) double net lease
E) triple net lease
Page 40
To view all questions and flashcards with answers, click on the resource link above.
Chapter 39: Family Law, Wills, and Trusts
Available Study Resources on Quizplus for this Chatper
128 Verified Questions
128 Flashcards
Source URL: https://quizplus.com/quiz/11023
Sample Questions
Q1) Sam has written a will with the following clause,"I leave $80,000 to Dave." This gift is:
A) specific gift.
B) general gift.
C) residuary gift.
D) per capita gift.
E) per stirpes gift.
Q2) Which of the following is not a requirement of a "common law" marriage?
A) The parties must be eligible to be married.
B) The parties must be acting voluntarily.
C) The parties must live together.
D) The parties must obtain a marriage license, although a ceremony is not required.
E) The parties must act as if they are married.
Q3) Which of the following does not revoke a will,either wholly or partially?
A) a properly-executed subsequent will
B) divorce
C) a child born after the will is executed
D) an action by the testator destroying the will
E) annulment
To view all questions and flashcards with answers, click on the resource link above.
Chapter 40: Accountants' Liability
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/11024
Sample Questions
Q1) In terms of the Public Company Accounting Oversight Board (PCAOB),all of its members must be certified public accountants (CPAs).
A)True
B)False
Q2) An unqualified opinion represents an auditor's finding that the company's financial statements unfairly represent the company's financial position.
A)True
B)False
Q3) When an accountant performs his or her services with reckless disregard for the truth,or with reckless disregard for the consequences of his or her actions,the accountant is guilty of actual fraud.
A)True
B)False
Q4) An accountant who does not comply with GAASs when conducting an audit and thereby fails to uncover a fraud or embezzlement by an employee of the company being audited can be sued for damages arising from this negligence.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 42
Chapter 41: International and World Trade Law
Available Study Resources on Quizplus for this Chatper
134 Verified Questions
134 Flashcards
Source URL: https://quizplus.com/quiz/11025
Sample Questions
Q1) The United States Constitution does not vest exclusive power over foreign affairs in the federal government.
A)True
B)False
Q2) A treaty sponsored by an international organization,such as the United Nations,that is signed and ratified by two or more nations is called a:
A) multilateral treaty.
B) convention.
C) custom.
D) charter.
E) statute.
Q3) The euro can be used in all countries of the eurozone.
A)True
B)False
Q4) Appeals from decisions made by the dispute settlement body of the World Trade Organization are heard by the International Court of Justice.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 43