Introduction to Business Law
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Course Introduction
Introduction to Business Law provides students with a foundational understanding of the legal concepts and principles that govern the business environment. This course covers topics such as contract law, torts, agency, employment law, intellectual property, and the structure of the legal system. Students will learn how laws affect business operations, decision-making, and the responsibilities of businesses to stakeholders. Through case studies and real-world examples, the course emphasizes the practical application of legal principles and ethical considerations in business contexts.
Recommended Textbook
Business Law Text and Cases Commercial Law for Accountants 14th Edition by Roger LeRoy Miller
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Chapter 1: Business Ethics
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Q1) Ethics is as clearly defined as the law.
A)True
B)False Answer: False
Q2) Codes of ethical conduct can indicate how employees are expected to act.
A)True
B)False Answer: True
Q3) The concept of corporate social responsibility is imposed on corporations by law.
A)True
B)False Answer: False
Q4) Corporations can be viewed as "citizens" that are expected to participate in bettering society.
A)True
B)False Answer: True
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Page 3
Chapter 2: Small Businesses and Franchises
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Q1) Flynn buys a Greasy Burger, Inc., franchise. Greasy requires that its franchisees buy its products exclusively for every phase of their operations. Because Flynn wishes to buy less expensive products, he challenges the requirement. His best argument is probably that the requirement violates
A) the implied covenant of good faith and fair dealing.
B) the Federal Trade Commission's Franchise Rule.
C) federal antitrust laws.
D) the franchisor's marketing image.
Answer: C
Q2) In a sole proprietorship, the proprietor shares the burden of any losses or liabilities incurred by the business enterprise with the government.
A)True
B)False
Answer: False
Q3) A franchisee is generally economically independent of the franchisor's integrated business system.
A)True
B)False
Answer: False
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Page 4
Chapter 3: All Forms of Partnerships
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Q1) The intent to associate is irrelevant in terms of the elements of a partnership.
A)True
B)False Answer: False
Q2) A partner's devoting time, energy, and skill to partnership business is a compensable service.
A)True
B)False Answer: False
Q3) On dissolution, the creditors of the partnership and the creditors of the individual partners can make claims on the partnership's assets.
A)True
B)False Answer: True
Q4) Withdrawal from a partnership before the end of its express term constitutes a breach of the partnership agreement.
A)True
B)False Answer: True
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Chapter 4: Limited Liability Companies and Special
Business
Forms
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Q1) For federal income tax purposes, one-member limited liability companies are not taxed.
A)True
B)False
Q2) Global Shipping Corporation and Harbor Warehouse Company transfer their property to Investment Managers, Inc., which manages the property and distributes the profits to the beneficiaries. This form of business organization is
A) a business trust.
B) a joint stock company.
C) a joint venture.
D) a syndicate.
Q3) Commerce & Trade Corporation and Distance Shipping & Transport, Inc., form a business trust. eCharge Auto Company and Fleet Electric Corporation form a joint stock company. Green AgriCorp and Harvest Farms, Inc., form an incorporated cooperative. What features do these combinations of business organization have in common?
Q4) In most states, a limited liability company must have at least two members.
A)True
B)False
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Chapter 5: Corporate Formation and Financing
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Q1) A court will not pierce the corporate veil of a corporation simply because it is too thinly capitalized.
A)True
B)False
Q2) Bay City Merchants Corporation has six shareholders, four of whom are members of the same family. All of Bay City's shareholders agree in writing to operate without shareholders' meetings. Under the Revised Model Business Corporation Act, this most likely warrants
A) no penalties or sanctions.
B) the imposition of a fine on Bay City.
C) the imprisonment of Bay City's shareholders.
D) the piercing of Bay City's corporate veil.
Q3) Venture capital is capital provided to new business ventures by professional, outside investors.
A)True B)False
Q4) If a corporation has S corporation status, it must pay income taxes at the corporate level.
A)True
B)False
Page 7
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Chapter 6: Corporate Directors, Officers, and Shareholders
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Q1) The executive officers represent the ultimate authority in every corporation.
A)True
B)False
Q2) Any individual director can act as an agent to bind the corporation.
A)True
B)False
Q3) The board of Management Consultants, Inc., can delegate some of its responsibilities to
A) the firm's incorporators.
B) the firm's officers.
C) the firm's shareholders.
D) no one.
Q4) Ben is a shareholder of Commerce & Trade Inc. As a shareholder, Ben does not have A) a right to compensation.
B) dividend rights.
C) inspection rights.
D) preemptive rights.
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Chapter 7: Securities Law and Corporate Governance
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Q1) Bernie is the chief executive officer of Cooking Network, Inc., which is required to file certain financial reports with the Securities and Exchange Commission (SEC). Under the Sarbanes-Oxley Act of 2002, Bernie must
A) certify that the reports are complete and accurate.
B) designate a corporate official to assume liability for inaccuracies.
C) do nothing.
D) read the reports and be prepared to answer questions about them.
Q2) Anyone who wrongfully obtains inside information and trades on it for his or her personal gain can be liable under SEC Rule 10b-5.
A)True
B)False
Q3) Refer to Fact Pattern 7-2. If Ben is liable under the Securities Exchange Act of 1934, it will be because the information on which he based his purchase of AirLift stock was A) a forward-looking forecast.
B) not material.
C) not yet public.
D) not yet true.
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Chapter 8: Tort Law
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Q1) Fraud occurs only when there is justifiable reliance on a true statement.
A)True
B)False
Q2) A Georgia state statute requires commercial vehicle drivers to "fully attend to the operation of the vehicle." Hale, a driver for Interstate Trucking, Inc., is driving and talking on his cell phone when his rig collides with Jocelyn's car, injuring her. Jocelyn's best theory for recovery against Hale and Interstate Trucking is
A) a Good Samaritan statute.
B) negligence per se.
C) res ipsa loquitur.
D) the "danger invites rescue" doctrine.
Q3) Cal is driving a car in which Duff is a passenger when an accident occurs. Cal and Duff are emotionally rattled, but neither is physically hurt. Cal is not liable to Duff on a negligence theory because
A) both parties were emotionally rattled.
B) Cal did not apparently intend to cause an accident.
C) Duff must have been comparatively negligent.
D) Duff was not injured.
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Page 10
Chapter 9: Agency Formation and Duties
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Q1) Dakota Energy Company employs Evan to negotiate the purchase of mineral rights for future mining projects. Evan secretly buys some of the property and sells it to Dakota at a profit. Evan has breached A) no duty.
B) the agent's duty of accounting.
C) the agent's duty of loyalty.
D) the principal's duty of compensation.
Q2) Refer to Fact Pattern 9-2.At the shop, Faye is
A) an independent contractor.
B) an employee only.
C) an employee and agent.
D) a principal.
Q3) An agency relationship cannot be created by an oral agreement.
A)True
B)False
Q4) The relationship between an employer and an employee cannot involve an agency relationship.
A)True B)False
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Chapter 10: Agency Liability and Termination
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Q1) Private Security Service employs Olsen as an agent. Without Private Security's knowledge but otherwise acting within the scope of employment, Olsen commits a crime. The state can successfully prosecute
A) none of the choices.
B) Private Security.
C) Private Security or Olsen.
D) Olsen.
Q2) Metro Hospital, Inc., employs New Collection Company as an agent for the collection of Metro's unpaid accounts. While garnishing O'Shea's wages, New Collection misstates the amount and collects too much. O'Shea can recover from
A) Metro only.
B) Metro or New Collection.
C) New Collection only.
D) none of the choices.
Q3) If a principal is undisclosed, the agent may be liable to the principal for a third party's nonperformance of a contract.
A)True
B)False
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Chapter 11: Employment, Immigration, and Labor Law
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Q1) Curtis is an employee of Deepwater Drilling, Inc., covered by federal overtime provisions, which apply only after an employee has worked more than
A) eight hours in a day.
B) forty hours in a week.
C) 160 hours in a month.
D) one year for the same employer.
Q2) Steel Production Industries, Inc., employs five hundred workers. For the Occupational Safety and Health Administration, Steel Production must do all of the following except A) keep occupational injury and illness records for each employee.
B) report any work-related diseases.
C) report any work-related injuries.
D) pay employees higher wages for working in more dangerous areas.
Q3) Ethan, a former employee of Fiber Optics, Inc., is currently unemployed. To collect unemployment compensation, Ethan must A) be willing and able to work.
B) have been fired for misconduct.
C) have voluntarily left his job.
D) not be actively seeking employment.
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Chapter 12: Employment Discrimination
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Q1) Resource Corporation and the Service Employees International Union are sued by plaintiffs alleging job discrimination in violation of Title VII of the Civil Rights Act. This law applies to employers and labor unions with at least
A) fifteen employees or members.
B) five employees or members.
C) ten employees or members.
D) one employee or member.
Q2) Refer to Fact Pattern 12-1.Craig files a suit against Dispatch under Title VII of the Civil Rights Act, claiming discrimination. To support this claim, Craig must show that he is a member of
A) a protected class.
B) a majority group.
C) an employers' association.
D) a union.
Q3) Employers can require employees to participate in such religious activity as weekly prayer meetings.
A)True
B)False
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Page 14
Chapter 13: The Formation of Sales and Lease Contracts
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Q1) To be characterized as a "good" under the UCC, an item of property must be movable.
A)True
B)False
Q2) Marine Expeditions, Inc., pays Nate's Boats $4,000 to use an oceangoing vessel for a month. For the purposes of the UCC, this is
A) a merchant's firm offer.
B) an option contract.
C) a lease.
D) a sale.
Q3) The United Nations Convention on Contracts for the International Sale of Goods (CISG) is the uniform international sales law of countries that account for more than two-thirds of all global trade.
A)True
B)False
Q4) A merchant's firm offer is revocable at any time before acceptance.
A)True
B)False
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Chapter 14: Performance and Breach of Sales and Lease Contracts
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Q1) Soft Chair Company contracts to deliver 100 chairs to Stuffy Furnishings Store on May 1 for which Stuffy agrees to pay. Soft tells Stuffy on April 15 that delivery will be delayed until June 1. Stuffy may
A) await performance, sue Soft, or suspend its own performance.
B) only await Soft's performance for a commercially reasonable time.
C) only sue Soft for breach of contract.
D) only suspend its own performance.
Q2) If a buyer repudiates a contract, the seller can bring an action to recover damages. A)True B)False
Q3) Precise Parts, Inc., and Quality Auto stores enter into a contract for a sale of auto parts that meet certain specifications. Precise Parts ships goods that do not comply.
Quality Auto
A) cannot reject the entire shipment.
B) can reject the entire shipment.
C) must accept the entire shipment.
D) must reject the entire shipment.
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Page 16
Chapter 15: Negotiable Instruments
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Q1) Rico agrees to buy a bicycle from Salvatore for $250. Salvatore agrees to deliver the bike on September 1. Rico writes a draft for $250 payable to Salvatore on September 1. This is
A) a certificate of deposit.
B) a time draft.
C) a sight draft.
D) a promissory note.
Q2) A symbol can serve as a valid signature.
A)True
B)False
Q3) Oren signs an instrument payable to the order of Pay-Out Loans, Inc., "on or before" June 15. This instrument is
A) negotiable.
B) not negotiable, because the maker can move up the payment date.
C) not negotiable, because moving up the payment date is optional.
D) not negotiable, because the exact payment date cannot be determined from the face of the instrument.
Q4) The most common type of draft is a check.
A)True B)False
Page 17
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Chapter 16: Transferability and Holder in Due Course
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Q1) A holder takes an instrument for value by promising to perform in the future.
A)True
B)False
Q2) Rochelle fraudulently induces Sybil to sign a note. Rochelle sells the note to Terry, who does not know of the fraud and takes the note for value and in good faith, and thus becomes an HDC. Terry sells the note to Ulrich, who sells the note back to Rochelle. Does Rochelle acquire Terry's HDC rights in the note?
Q3) A holder does not take an instrument for value if he or she gives a negotiable instrument as payment.
A)True
B)False
Q4) A bearer instrument can be converted into an order instrument through indorsement.
A)True
B)False
Q5) A restrictive indorsement does not destroy negotiability.
A)True
B)False
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Chapter 17: Liability, Defenses, and Discharge
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Q1) Jen is the maker of a note, on which Bart is secondarily liable. Credit Instruments Company (CIC) is the current holder of the note. Bart will be obligated to pay the note if
A) Jen defaults on the note.
B) CIC breaches a transfer warranty.
C) CIC negotiates the note to Delta Collection Agency, a third party.
D) CIC presents the note for payment.
Q2) The completion of an originally incomplete instrument in an unauthorized manner is not a defense against payment on the instrument to an HDC.
A)True
B)False
Q3) Community Bank receives a check drawn by Dennis. The check lacks a proper indorsement. Payment can be postponed without dishonor A) indefinitely.
B) under no circumstances.
C) for thirty days.
D) until the proper indorsement is obtained.
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19
Chapter 18: Banking in the Digital Age
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Q1) Tomas writes a check for $1,000 drawn on Unified Bank and presents it to Viola. Viola presents the check for payment to Unified Bank, which dishonors it. The party most likely liable to Viola is
A) Tomas in a civil suit.
B) Tomas in a criminal prosecution.
C) Unity Bank in a civil suit.
D) none of the choices.
Q2) Smith & Jones P.A. is a business customer of Platinum Bank. Under federal law, Smith & Jones cannot demand
A) any proof of payment except the bank's good faith.
B) monthly statements.
C) recrediting of its account on payment of a forged item.
D) the return of its original checks with its monthly statements.
Q3) Refer to Fact Pattern 18-1.If Choice pays the check, the bank
A) can sue Kelly for a wrongful stop-payment order.
B) can sue Auto Repair for breach of contract.
C) is liable to Auto Repair for the time and trouble to return the payment.
D) is liable for Kelly's loss due to the wrongful payment.
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Page 20
Chapter 19: Creditors Rights and Remedies
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Q1) George borrows funds from Hometown Credit Union (HCU) to buy real property. George signs a written instrument that gives HCU an interest in the property as security for the debt's payment. This is
A) a mortgage.
B) an artisan's lien.
C) a workout agreement.
D) a suretyship arrangement.
Q2) A creditor's surrender of collateral to a debtor without the guarantor's consent can reduce the guarantor's obligation.
A)True
B)False
Q3) An employer can dismiss an employee because his or her wages are being garnished.
A)True
B)False
Q4) A short sale is a sale of only part of the whole property subject to a mortgage. A)True
B)False
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Chapter 20: Secured Transactions
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Q1) Ken's Auto Sales borrows money from Lenders Finance Corporation under a security agreement. With the money, Ken's buys six Mazda Miatas. The vehicles are
A) beyond the extent of Lenders's interest.
B) after-acquired property.
C) a future advance.
D) proceeds.
Q2) The payment of Janitorial Service's debt to Business Finance, Inc., is guaranteed by the service's personal property. Business Finance is
A) a debtor.
B) a secured creditor.
C) a security interest.
D) a secured party.
Q3) Any breach of the terms of the security agreement can constitute default. A)True
B)False
Q4) Proceeds are whatever is received when collateral is sold.
A)True
B)False
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Page 22
Chapter 21: Bankruptcy Law
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Q1) To supply false information on official bankruptcy schedules is a crime.
A)True
B)False
Q2) Cassie files a voluntary petition in bankruptcy for relief through a liquidation proceeding. Among her debts that will not be discharged are claims
A) by creditors who were not notified of the bankruptcy.
B) for money to be paid for goods not delivered.
C) for contributions to employee benefit plans.
D) for long overdue credit-card debt.
Q3) A bankruptcy estate consists of all the debtor's interests in property currently held, wherever located.
A)True
B)False
Q4) Zeke files a petition for bankruptcy underChapter 13. Zeke'sChapter 13 plan must provide for
A) the turnover of his future income to the trustee.
B) his attendance at a credit-counseling briefing.
C) adequate means for the petition's execution.
D) a preference for one creditor over another.
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Chapter 22: Professional Liability and Accountability
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Q1) In all cases involving allegations of negligence, the plaintiff must prove that the professional's breach of the duty of care actually caused some injury.
A)True
B)False
Q2) Lou, an attorney, allows a statute of limitations to lapse on a claim by Metal Fabrication Company, a client. Lou
A) can be held liable for malpractice.
B) has violated an ethical standard but cannot be held liable. C) is subject to criminal penalties under the statute of limitations. D) will be automatically disbarred.
Q3) Generally, an attorney is not liable to a nonclient unless the attorney has committed fraud or malicious conduct.
A)True
B)False
Q4) In performing professional services, an accountant is subject to the standard of the ordinarily prudent person.
A)True
B)False
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Chapter 23: Administrative Agencies
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Q1) Congress can review new federal regulations before they take effect.
A)True
B)False
Q2) Any party to a case may appeal the order of an administrative law judge to the board or commission that governs the agency.
A)True
B)False
Q3) The Fourth Amendment protects against unreasonable searches and seizures by agencies.
A)True
B)False
Q4) The U.S. Department of Health and Human Services (HHS) was founded in 1980. All of the following subagencies are within HHS except
A) the National Institutes of Health.
B) the Food and Drug Administration.
C) the Veterans Health Administration.
D) the Centers for Disease Control.
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Chapter 24: Consumer Law
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Q1) Mattress Company advertises a special sale-all bedding, half price. The ad does not state that the sale price does not include delivery or shipping costs. To avoid claims of deceptive advertising, Mattress should
A) clearly and conspicuously disclose the shipping cost in its ads.
B) display the shipping cost in small print on ads displayed in stores.
C) include the shipping cost in small print on its receipts.
D) not reveal the shipping cost.
Q2) In a transaction subject to the Truth-in-Lending Act, the terms of a credit instrument must be fully disclosed.
A)True
B)False
Q3) Credit Loan Company extends credit in the ordinary course of its business. Under the Truth-in-Lending Act, The lender must inform potential borrowers of A) credit terms offered by other lenders.
B) comparative prices for goods to be bought with the borrowed funds.
C) Credit Loan's credit terms.
D) the borrowers' credit scores.
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Chapter 25: Environmental Protection
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Q1) It is a violation of federal law to destroy or deface any labeling required on a pesticide or herbicide.
A)True
B)False
Q2) New Town Construction, Inc., wants to build a parking ramp to connect to its New Town Mall, both of which are on private land. For this action, an environmental impact statement is
A) prohibited.
B) required.
C) unnecessary.
D) voluntary.
Q3) Cities and counties may impose rules regulating methods of wastes removal.
A)True
B)False
Q4) Persons who provide information about violators of the Clean Air Act may be paid up to $10,000.
A)True
B)False
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Chapter 26: Antitrust Law
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Q1) A suit is filed against DrillBits Corporation, alleging that the firm committed the offense of monopolization. To determine whether DrillBits has monopoly power requires looking at
A) the price of a share of DrillBits' stock.
B) DrillBits' size alone.
C) DrillBits' production methods and marketing techniques.
D) the relevant market.
Q2) Monopoly power may be proved by evidence that a firm used its power to control prices.
A)True
B)False
Q3) To drive its competitors out of a certain geographic segment of its market, Drones, Inc., sets the prices of its products below cost for the buyers in that area. This is A) price-fixing.
B) smart marketing.
C) predatory pricing.
D) price discrimination.
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Chapter 27: Personal Property and Bailments
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Q1) Nero and Omar agree to buy natural gas to sell to Power Fuel Company and to share storage costs until Power Fuel can take delivery. The gas is commingled so that Nero's cannot be distinguished from Omar's. This is
A) accession.
B) confusion.
C) conversion.
D) a bailment.
Q2) Angela is in good health and sound mind when she gives Brianna a quarter horse. Brianna accepts. This is a gift
A) inter vivos.
B) causa mortis.
C) by accession.
D) by production.
Q3) Gary tells his daughter Heidi that she can have his restored 1932 Ford Coupé when he dies, but he does not add this to his will. This is
A) a gift causa mortis.
B) a gift inter vivos.
C) a gift by accession.
D) not a gift.
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Chapter 28: Real Property and Landlord-Tenant Law
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Q1) Tropic Breeze Residences, Inc., owns apartment buildings. Suki leases one of Tropic Breeze's apartments. Suki's transfer of her interest in the lease to Vito for a period shorter than the lease term is
A) an assignment.
B) a violation of the law.
C) a periodic tenancy.
D) a sublease.
Q2) Lee leases a house from Megan for a two-year term. To ensure the validity of their lease, it should include
A) a provision for the landlord's future interest.
B) a due date for the payment of the property taxes.
C) a requirement that Dora perform structural repairs to the house.
D) a requirement that Evan carry liability insurance.
Q3) Niles wants to lease a condo for two years from Oak Street Condos Inc. In most states, the lease agreement must be
A) in writing.
B) none of the choices.
C) witnessed.
D) notarized.
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Page 30
Chapter 29: Intellectual Property
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Q1) A copy must be exactly the same as the original to infringe a copyright.
A)True
B)False
Q2) Trade names have the same legal protection as trademarks.
A)True
B)False
Q3) The idea for "Price + Profit," an app that businesses can use to track their revenue, profit, and payroll, is protected by
A) copyright law.
B) patent law.
C) none of the choices.
D) trade secrets law.
Q4) RiteMade Machinery, Inc., designs, makes, and sells a drill press. Steel Equipment Company copies the design without RiteMade's permission. Steel's conduct is actionable provided
A) consumers are confused.
B) Steel's conduct is intentional.
C) Steel's conduct reduces the value of RiteMade's design.
D) RiteMade's design is patented.
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Chapter 30: Insurance
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Q1) Rob applies to Standard Insurance Company for a life insurance policy. On the application, Rob understates his age. Rob obtains the policy, but for a lower premium than he would have had to pay had he disclosed his actual age. The policy includes an incontestability clause. Five years later, Rob dies. Can Standard refuse payment on the policy?
Q2) Energy Industries, Inc., obtains insurance policies with Fidelity Insurance, Inc., and Goodworth Insurance Company against the risk of loss of Energy's property. Each policy includes a multiple insurance clause. A fire partially destroys one of Energy's buildings. Energy can collect from Fidelity
A) all of the loss.
B) half of the loss.
C) its proportionate share of the loss to the total amount of insurance.
D) none of the loss.
Q3) An arbitration clause requires arbitration of disputes that arise between the insurer and the insured concerning the settlement of claims.
A)True
B)False
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Chapter 31: Wills and Trusts
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Q1) According to the terms of Donna's will, specific gifts are made, and taxes and other estate expenses and debts are paid. The assets of her estate that remain are
A) the bequest.
B) the devise.
C) the legacy.
D) the residuary.
Q2) Kendall executes a separate written instrument to amend her prior will. This separate document is
A) a bequest.
B) a codicil.
C) a devise.
D) a holographic will.
Q3) For Melinda's will to be valid, she must be mentally competent at the time of A) death.
B) the acquisition of the property to be distributed under the will.
C) the making of the will.
D) the probate of the will.
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Chapter 32: Digital Update:should Employees Have a Right of Disconnecting
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Q1) Personnel Resources Company considers using software to analyze employee behavior with the goal of predicting wrongdoing. In this situation, the ethical focus is on A) the success of the software.
B) sanctions for something yet to be done.
C) questions of privacy.
D) whether data mining should occur only online.
Q2) Predictive analytics in the digital realm focuses on
A) predicting certain behavior based on certain data.
B) analyzing certain data to predict digital developments.
C) analyzing certain predictions to monitor certain results.
D) predicting certain digital data based on reasoned analysis.
Q3) Bill starts Castaway to market a new line of uniquely designed fishing gear. Delta Bank loans $50,000 to Bill for the project. The bank is most likely to recover the amount of the loan from Bill's personal assets
A) if Bill provides a complete, accurate record of business transactions.
B) if the loan is not subject to an agreement that imposes personal liability.
C) if Bill's business is a sole proprietorship.
D) under no circumstances.
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Chapter 33: Digital Update: Revenge Porn and Invasion of Privacy
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Q1) Under the Patient Protection and Affordable Care Act, small businesses that meet certain requirements-including those with fewer than twenty-five full-time employees-can
A) any of the choices.
B) buy health insurance for employees through the Small Business Health Options Program.
C) claim a health-care tax credit.
D) claim a business-expense tax deduction.
Q2) Nadia, an employee of Omar in Saudi Arabia, engages in a wrongful act without Omar's knowledge or consent. Under the principles of sharia law, responsibility for Nadia's act lies with
A) only Nadia.
B) only Omar.
C) Nadia and vicariously-by extension-to Omar.
D) neither Nadia nor Omar.
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Chapter 34: Digital Update: Taxing Web Purchases
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Q1) Beth borrows $10,000 from the U.S. Department of Education to help pay for her education at Community College. She signs a note payable to DOE for the amount of the loan plus interest. The borrower will be considered in default if she fails to A) any of the choices.
B) repay the loan according to the terms in the note.
C) graduate from Community College within four years of the loan.
D) find employment in her program of study after graduation.
Q2) Apple Pay and other phone-based payment systems enable mobile devices to A) link from a digital wallet to another app within a single phone.
B) entail more security risks than carrying a physical wallet.
C) communicate wirelessly with point-of-sale systems.
D) work with existing magnetic-strip credit-card machines.
Q3) Rita borrows $20,000 from the U.S. Department of Education to help pay for her education at State University. She signs a note payable to DOE for the amount of the loan plus interest. The loan may be discharged if A) Rita does not graduate from State University within six years of the loan. B) in bankruptcy, repayment would cause Rita undue hardship.
C) any of the choices.
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Chapter
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Q1) The European Union (EU) has charged Google Inc. with promoting its comparison-shopping service at the expense of its competitors. As a remedy, the EU wants Google to change the way it shows its search results. The EU would order the defendant to
A) display the most relevant services first.
B) maintain its core software unchanged.
C) cut traffic to its competitors.
D) crowdsource.
Q2) Eve is an attorney. With respect to client information, under the American Bar Association's Model Rules of Professional Conduct, Eve, like other attorneys
A) is required to guarantee that a breach of confidentiality will never occur.
B) has an ethical duty to safeguard the information.
C) does not need to be concerned with keeping the information secure.
D) does not own the data.
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Chapter 36: Digital Update:the Exploding World of Digital
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Q1) Money2Play Corporation does not make or sell products or services but buys a patent and asserts it against New Functions, Inc., a start-up applications company, demanding licensing fees and threatening an infringement suit. Because of these threats, New Functions is most likely to A) have difficulty in attracting investors.
B) target other firms with patent litigation to obtain investment capital.
C) cease and desist.
D) collect more capital to fund its operations than without the threats.
Q2) Bob owns a virtual asteroid near the virtual planet Cosmo in the virtual DeepSpace universe. Property consists of a bundle of rights in anything that has an ascertainable value and is subject to ownership. This definition encompasses A) intangible objects used in virtual worlds like DeepSpace.
B) digital books, music libraries, and movie downloads.
C) all of the choices.
D) domain names and expensively created Web sites.
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