Law and Business Test Bank
Course Introduction
Law and Business is an interdisciplinary course that explores the essential role of legal principles and frameworks in shaping commercial activities and business decision-making. The course provides students with a foundational understanding of the legal environment in which businesses operate, including contracts, corporate governance, intellectual property, employment law, and regulatory compliance. Through case studies and practical examples, students learn how legal considerations influence business strategy, risk management, and ethical conduct. Emphasis is placed on analyzing real-world scenarios to develop problem-solving skills and the ability to apply legal knowledge in business contexts. This course is ideal for students aiming for careers in business, entrepreneurship, or law.
Recommended Textbook
Legal Environment of Business A Managerial Approach 3rd Edition by Sean Melvin
Available Study Resources on Quizplus
25 Chapters
2000 Verified Questions
2000 Flashcards
Source URL: https://quizplus.com/study-set/2317 Page 2
Chapter 1: Legal Foundations
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46073
Sample Questions
Q1) The power of courts to establish law in matters not specifically addressed by statutes is very limited in common law countries.
A)True
B)False
Answer: False
Q2) Mega Corporation has developed a strategic plan that calls for an emphasis on appealing to a younger demographic.If it decided that such an appeal to a younger market would necessitate a change in the corporate logo and trademark,such changes would require an understanding of
A) securities law.
B) intellectual property law.
C) contract law.
D) antitrust law.
Answer: B
Q3) Most schools of jurisprudential thought center on the government's role in creating 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: Business and the Constitution
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46074
Sample Questions
Q1) Assume that the state of Georgia raised the fee for registration of motor vehicles to $5 per year.If challenged,this new statute would be reviewed using
A) rational basis scrutiny.
B) intermediate scrutiny.
C) strict scrutiny.
D) no particular form of scrutiny (none is required in this situation).
Answer: A
Q2) After more than 100 years,the Chicago Cubs have won baseball's World Series.They want a parade down Michigan Avenue at 10 a.m.on Friday,but the city tells them that the parade will be down Rush Street at noon on Saturday.The city claims that Rush Street on Saturday will provide more safety and convenience for the city's citizens.The Cubs claim a violation of their freedom of speech.If a lawsuit ensues,what standard of review will the court use to resolve the issue?
A) rational basis scrutiny
B) intermediate-level scrutiny
C) strict scrutiny
D) no particular form of scrutiny (none is required in this situation)
Answer: B
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: The American Judicial System, Jurisdiction and Venue
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46075
Sample Questions
Q1) The "effects test" is utilized
A) to determine the amount of damages a defendant must pay the plaintiff.
B) by the U.S. Supreme Court to decide whether to accept a case for review.
C) by a federal court to determine whether state precedent should apply to a case it is adjudicating.
D) to establish personal jurisdiction over an out-of-state defendant in certain cases when minimum contacts do not otherwise exist.
Answer: D
Q2) Not all courts have the authority to hear all cases.
A)True
B)False
Answer: True
Q3) Delaware has courts that exclusively hear commercial matters,and these specialized courts are called ____ courts.
Answer: chancery
Q4) The court's authority over disputes between the parties is called _______ jurisdiction.
Answer: subject matter
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Resolving Disputes: Litigation and Alternative Dispute
Resolution
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46076
Sample Questions
Q1) Who,among the following,is not present during a pretrial conference?
A) the judge
B) the parties
C) the court reporter
D) the parties' attorneys
Q2) For the courts to allow a lawsuit to proceed,both the plaintiff and the defendant must be able to prove standing or the suit will be dismissed.
A)True
B)False
Q3) To successfully pursue a lawsuit,the plaintiff must evidence standing to sue.What must the plaintiff prove in order to establish standing to sue?
Q4) A ____ is a document filed by one party that requests court action in a matter pertaining to the litigation.
Q5) The Federal Arbitration Act enumerates specific procedures for conducting arbitration hearings.
A)True
B)False
Q6) Discuss the potential advantages of ADR over litigation.
Page 6
To view all questions and flashcards with answers, click on the resource link above.
Chapter 5: Business, Societal, and Ethical Contexts of Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46077
Sample Questions
Q1) Ethical misconduct not only includes illegal and unethical practices but also includes questionable practices of managers and organizations.
A)True
B)False
Q2) What action did Facebook's COO,Sheryl Sandburg,take in response to the complaint?
A) She issued a statement explaining the experiment and the concept of A/B testing.
B) She issued a half-hearted apology stating that the study was part of ongoing research companies do to test products and apologized for the lack of communication.
C) She issued an apology, urging Facebook and other companies to stop the unethical research on consumers.
D) She took no action.
Q3) Prioritizing moral values for an organization and ensuring that behaviors are aligned with those values is known as _______.
Q4) Name the five-step process that a manager should use for ethical decision making.
Q5) The notion of _______ is a central theme in Immanuel Kant's work.
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 6: Overview and Language of Contracts
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46078
Sample Questions
Q1) What are the categories of contracts in the following scenario?
Dr.Pearson,an avid skier,decides to purchase a new pair of skis.He goes to a local ski shop and is assisted by the shop's owner as he looks at several pairs.He really likes a pair that costs $1,085,the most expensive set in the store,and says he will buy them if the owner will include bindings.The owner agrees and prints an order form with instructions to the shop staff for fitting the skis with bindings.Dr.Pearson pays for the skis and collects his receipt.The shop staff prepares the skis,and Dr.Pearson returns the following week to pick them up,ready to hit the slopes.
Q2) A negotiation to buy a car is an example of entering into an implied contract.
A)True
B)False
Q3) In general,contracts for services are governed by
A) state common law.
B) state statutory law.
C) the Uniform Commercial Code.
D) federal law.
Q4) An offer is considered to have terminated via _______ when a time limit attached by the offeror expires or after a reasonable time has passed.
Q5) Contracts that involve goods and services are known as _______ contracts.
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Contract Enforceability and Performance
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46079
Sample Questions
Q1) Which of the following is not a discharge by mutual consent?
A) accord and satisfaction
B) novation
C) rescission
D) frustration of purpose
Q2) An event that occurs after the performance under a contract and discharges the parties' contractual obligations is best referred to as a(n)
A) condition prerequisite.
B) condition antecedent.
C) condition subsequent.
D) condition precedent.
Q3) Josh entered into a contract with Donna in which she was to pay $50,000 for Josh's hunting cabin.All negotiations,witnessed by various third parties,stated the $50,000 figure as the sales price.When the contract was written,a typographic error was made indicating a price of $5,000.At settlement,Donna tendered $5,000 and demanded the deed in accordance with the written contract.Must Josh sell the cabin for $5,000?
Q4) Language such as "provided that" or "unless" in a contract that triggers a performance obligation is called a _______.
To view all questions and flashcards with answers, click on the resource link above.
Page 9
Chapter 8: Contracts for the Sale of Goods
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46080
Sample Questions
Q1) Jones Corp.is set to deliver goods ordered by Smith,Inc.and calls to confirm that the goods will be delivered the next day.Smith,Inc.on the phone,notifies Jones Corp.that it has found the same goods available cheaper from another seller and will not accept delivery.In order for Smith,Inc.to officially be in breach of contract,Jones Corp.must deliver and tender conforming goods and have Smith,Inc.wrongfully reject them.
A)True
B)False
Q2) If a buyer knowingly accepts nonconforming goods,the buyer may still sue the seller for monetary damages based on the nonconformity.
A)True
B)False
Q3) If Continental Tires agreed to purchase all of the rubber that a particular Brazilian rubber plantation could produce,this would be
A) an output contract.
B) an input contract.
C) a requirements contract.
D) a necessities contract.
Q4) A _______ is one that is regularly engaged in the sale of a particular good.
To view all questions and flashcards with answers, click on the resource link above.
Page 10
Chapter 9: Torts and Products Liability
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46081
Sample Questions
Q1) The loss of marital relations and spousal companionship is called loss of _______.
Q2) Lost revenue or profits,whether actual or potential,are called _______ harm.
Q3) Under concepts articulated in MacPherson v.Buick,a manufacturer of a defective product is liable only to the purchaser of the product and not to every user.
A)True
B)False
Q4) Milio is having coffee in a coffee house when he sees Jordan,who is the dean of a Midwest business school.Milio used to teach at Jordan's prior school and was considered a very valuable faculty member.They haven't seen each other for years,and Jordan has no idea what Milio has been doing or where he's currently working.She tells him that she has a position for him if he's interested.The next day Milio quits the university he's under contract with and signs a contract with Jordan's school.Jordan's school can be sued for tortious interference with existing contractual relationship.
A)True
B)False
Q5) Name the various categories of torts,and explain the essential differences between them.
To view all questions and flashcards with answers, click on the resource link above.
Page 11
Chapter 10: Agency
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46082
Sample Questions
Q1) One of the principal's duties is to keep an accounting during the agency relationship.
A)True
B)False
Q2) Brian hired Craig to negotiate a deal with Rudy.Brian instructs Craig that while he is in Rudy's office,should he be able to steal the Johnson file,he is to do so.If Craig has the opportunity to steal the file but fails to do so,he is in violation of his duty of obedience and obligation to follow his principal's instructions.
A)True
B)False
Q3) An agent may work for two principals at the same time if the agent deals fairly with both.
A)True
B)False
Q4) The centerpiece of a fiduciary obligation is the agent's duty to act with due care when performing the responsibilities of the agency.
A)True
B)False
Q5) Explain the three-prong test the IRS uses to determine an agent's status.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Employment Relationships and Labor Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46083
Sample Questions
Q1) Which of the following is a tactic used by employers when anticipating a strike by a group of employees?
A) wildcat strikes
B) lockouts
C) secondary boycotts
D) grievances
Q2) The Fair Labor Standards Act does not cover all employees.
A)True
B)False
Q3) Contributory negligence and comparative negligence are generally not valid defenses to workers' compensation claims.
A)True
B)False
Q4) Unsafe workplace conditions are monitored and regulated under A) ERISA.
B) COBRA.
C) HIPAA.
D) OSHA.
Q5) In what ways does OSHA (the Act and the agency)work to establish and maintain workplace safety?
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46084
Sample Questions
Q1) Aranda works in an office environment with 50 employees.Once or twice a week,her boss Alden tells her she has great legs and that she should wear shorter skirts.He also tells her to let loose and open another button on her blouse once in a while.She asks him to stop and continues to wear knee-length skirts and keep her blouse buttoned to the neck.He never touches her and he never makes these comments when someone else can hear.When she gets her performance appraisal from Alden,he gives her an excellent evaluation and a raise.After listening to Alden for six months,she files a complaint with the EEOC.
A) She may have a valid quid pro quo claim.
B) She may have a valid hostile environment claim.
C) She may choose either a valid quid pro quo claim or a hostile environment claim, as both are valid.
D) She has suffered no economic or other job detriment, so she has no cause of action.
Q2) Emmanuelle has been the subject of intense and continuous hostile environment sexual harassment over a period of months.If she quits before filing a complaint with the EEOC,she forfeits the right to file the complaint and seek damages.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 14
Chapter 13:
Choice of Business Entity, Sole Proprietorships, and Partnerships
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46085
Sample Questions
Q1) You have been invited to become a member of a partnership.What are some of the considerations you need to assess in making a decision to become a general or limited partner?
Q2) An advantage of operating as a sole proprietorship is that personal liability for any business losses is limited to the owner's investment in the business.
A)True
B)False
Q3) A limited partnership is formed by the limited partner's filing of a certificate of limited partnership with the appropriate state government authority.
A)True
B)False
Q4) In a general partnership
A) profits and losses must be split equally among the partners.
B) an unequal split of profits may be agreed to based on the partnership agreement, but losses must be split equally.
C) profits must be split equally, but losses may be split unequally based on the partnership agreement.
D) profits and losses may be unequally split based on the partnership agreement.
Page 15
To view all questions and flashcards with answers, click on the resource link above.
Chapter 14: Limited Liability Companies and Limited Liability Partnerships
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/46086
Sample Questions
Q1) If an LLP does not have a partnership agreement,which of the following will courts look to in order to resolve internal management disputes?
A) The Revised Limited Liability Partnership Act or the Limited Liability Partnership Act if the RLLPA is not adopted.
B) The Revised Limited Liability Company Act or the Limited Liability Company Act if the RLLCA is not adopted.
C) The Revised Uniform Partnership Act or the Uniform Partnership Act if the RUPA is not adopted.
D) Common law.
Q2) Because it is not a taxable entity,an LLP
A) files an information tax return.
B) does not need to file a tax return.
C) needs to file only a federal tax return.
D) needs to file only a state and local tax return.
Q3) What is the purpose of an operating agreement,and what benefits does it afford an LLC?
Q4) In cases where a partner has engaged in some _______ or _______ the LLP acts to shield only the personal assets of other partners.
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Corporations
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46087
Sample Questions
Q1) Which of the following is NOT a factor used by courts to determine whether to pierce the corporate veil?
A) Poor management and decision making by an inadequately trained or educated manager.
B) Inadequate capitalization.
C) Evidence of fraud or willful misconduct.
D) Failure to follow necessary corporate formalities.
Q2) A closely held corporation may be categorized as a privately held or publicly held corporation,depending on its status at creation.
A)True
B)False
Q3) A corporation comes into existence when
A) the board adopts the bylaws.
B) the officers are chosen.
C) the organizational meeting has commenced.
D) the state accepts the articles of incorporation and issues the charter.
Q4) In a minority of the states,the articles of incorporation are called the _______.
Q5) The expiration date of a corporate bond is also called its _______.
To view all questions and flashcards with answers, click on the resource link above. Page 17
Chapter 16: Regulation of Securities, Corporate
Governance, and Financial Markets
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46088
Sample Questions
Q1) The SEC is an independent agency that A) is not under the direct control of the president. B) is under the direct control of the president. C) is under the direct control of the Department of Justice. D) is under the direct control of the U.S. Treasury Department.
Q2) A person who receives nonpublic confidential information regarding a company and uses that information to realize a profit is called a _______.
Q3) Annuities issued by insurance companies are exempt from full SEC registration requirements.
A)True
B)False
Q4) Bonds are debt instruments secured by company assets.
A)True
B)False
Q5) Rule 10(b) (5)of the 34 Act is aggressively used by the SEC in terms of insider-trading enforcement.
A)True
B)False
Q6) In what two ways do federal securities statutes define a security?
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Administrative Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46089
Sample Questions
Q1) What is the first step in the agency rulemaking process?
A) Determine legislative authority.
B) Draft the proposed rule change.
C) File for a hearing to start the formal rulemaking procedure.
D) Study and research of alternatives.
Q2) A heightened standard of judicial review called the _______ test is used when the formal rulemaking process is required by the enabling statute.
Q3) Congress has no power to remove an agency head.
A)True
B)False
Q4) A group of adversely affected parties want to challenge an agency rule in federal court.What is the process that the judge will use to make his or her decision?
Q5) Which of the following is not a source of administrative law?
A) the Constitution
B) the Administrative Procedures Act
C) common law
D) treaties
Q6) Final effective regulations are published in the _______.
Q7) What are the four primary functions of administrative agencies?
To view all questions and flashcards with answers, click on the resource link above. Page 19
Chapter 18: Environmental Law
Available Study Resources on Quizplus for this Chatper
81 Verified Questions
81 Flashcards
Source URL: https://quizplus.com/quiz/46090
Sample Questions
Q1) The Resource Conservation and Recovery Act (RCRA)applies only to active facilities,not future ones.
A)True
B)False
Q2) Federal environmental laws are primarily administered,implemented,and enforced by the _______ Agency.
Q3) A pre-existing factory has a permit to emit pollution at a specified level under the Clean Air Act.Due to increased demand for production,the factory owner plans to upgrade its facilities,which could affect the amount of pollution emitted by the plant.What steps must the factory owner take to remain in compliance with the CAA? Are there specific concerns that the factory owner must consider? Explain.
Q4) The Comprehensive Environmental Response Compensation and Liability Act (CERCLA)is also known as the _______.
Q5) In addition to being enforced by the EPA,the Clean Water Act (CWA)is also enforced by the U.S.Army Corp of Engineers.
A)True
B)False
Q6) The Superfund imposes _______ liability on the principally responsible parties.
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Antitrust and Regulation of Competition
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46091
Sample Questions
Q1) The test for determining a monopoly under the Sherman Act is the entity's share of the relative market.
A)True
B)False
Q2) The Robinson-Patman Act makes it illegal for a business entity to discriminate in price "between different purchasers of commodities of like quality or grade." In order to violate this act,the business must
A) make sales at different prices to at least three different purchasers.
B) make one sale of a different price to a purchaser.
C) make two or more sales to different purchasers at different prices.
D) give different price quotes to different purchasers.
Q3) Which economist/philosopher is cited in support of frequent meetings being circumstantial evidence of anticompetitive collusion?
A) Plato
B) Socrates
C) John Locke
D) Adam Smith
Q4) In U.S.v.Colgate,the court found that _______ boycotts do not fall under the Sherman Act.
To view all questions and flashcards with answers, click on the resource link above. Page 21
Chapter 20: Creditors Rights and Bankruptcy
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46092
Sample Questions
Q1) Bankruptcy is not the only option for businesses that want to avoid liability for their debts.
A)True
B)False
Q2) _______ liquidates the debtor's property to repay creditors and discharge the debts.
A) Chapter 7
B) Chapter 11
C) Chapter 12
D) Chapter 13
Q3) Which of the following unsecured creditors has first priority?
A) An ex-spouse who is due alimony.
B) Unpaid employees.
C) General creditors.
D) The court, for its costs.
Q4) How is a debtor protected in bankruptcy from the moment of filing?
A) The debtor has access to credit counseling.
B) Personal guaranties of loans are voided.
C) An automatic stay is placed on all collection efforts.
D) Certain transactions are now considered to be voidable.
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 21: Warranties and Consumer Protection Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46093
Sample Questions
Q1) Name and discuss the two categories of warranties.
Q2) Which act regulates the leasing relationship in which the consumer has possession of a motor vehicle in exchange for monthly payments?
A) Consumer Lending Act.
B) Truth in Lending Act.
C) Magnuson-Moss Act.
D) Equal Credit Opportunity Act.
Q3) Which is not an example of a warranty?
A) Merchantability.
B) Express.
C) Puffery.
D) Fitness for a particular purpose.
Q4) The Truth in Lending Act applies to creditors that are _______ engaged in extending credit for goods and services.
Q5) The Fair Debt Collection Practices Act requires that a collection agency make known certain rights of the debtor in a _______.
Q6) Describe how the federal government is protecting consumers online regarding spam.
Q7) What is puffery? Provide an example.
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Criminal Law and Procedure in Business
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46094
Sample Questions
Q1) Michelle is driving at night when a policeman pulls her over for a blown taillight.When he approaches the car,he shines his flashlight into the car and sees a bag of white powder on the back seat.The officer orders Michelle out of the car and then reaches in to seize the bag.A quick examination leads him to believe that the bag contains cocaine.He arrests Michelle and takes her to the station.Was the officer's search legal?
A) The officer conducted an illegal search because he did not obtain a warrant.
B) The officer conducted an illegal search because he may look into the car but may not use mechanical devices to aid his search without a warrant, so the use of the flashlight made the search illegal.
C) The officer conducted a legal search of areas which were openly visible because he may look into the car and may use simple mechanical devices, such as a flashlight, to aid his search without a warrant.
D) The officer conducted a legal search because he found drugs and the ends justify the means.
Q2) Criminal _______ deals with the limits set on the government's authority in applying criminal law.
Q3) A formal filing by a magistrate that binds a defendant over for trial is called a[n] _______.
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 23: Personal Property, Real Property, and Land Use Law
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46095
Sample Questions
Q1) Alessia has inherited 21 acres of land in Alaska.Since she has no urge to visit Alaska,she has never seen the land.Rondo and Jania have moved onto the land and erected a home.They have started using the land and have even fenced much of it in.There is no mortgage on the land,and Alessia doesn't receive a tax bill because Rondo and Jania pay the yearly taxes.After the statutory period in Alaska has run,Rondo and Jania would become the owners of the land.
A)True
B)False
Q2) Which of the following is used to separate and keep apart commercial,residential,and industrial properties?
A) eminent domain
B) variances
C) easements
D) zoning
Q3) Water rights are also known as _______ rights.
Q4) Micah and Kayla have a live Christmas tree in a pot in their home.This tree is real property.
A)True
B)False
Page 25
To view all questions and flashcards with answers, click on the resource link above.
Chapter 24: Intellectual Property
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46096
Sample Questions
Q1) A design patent will last for
A) 14 years from the date of the filing of the application with the U.S. Patent and Trademark Office.
B) 14 years from the date of the approval of the application granted by the U.S. Patent and Trademark Office.
C) 20 years from the date of the filing of the application with the U.S. Patent and Trademark Office.
D) 20 years from the date of the approval of the application granted by the U.S. Patent and Trademark Office.
Q2) Allen calls PepsiCo,the makers of Pepsi Cola,saying that he is an employee of Coca-Cola and he has the Coca-Cola secret recipe.The recipe is legendary as a closely guarded secret supposedly known to only a handful of people in the world.They arrange a meeting.Allen begins the meeting by stating that he acquired the recipe legally,and the PepsiCo representative says that she believes him and PepsiCo will buy it.Allen in fact stole the recipe.Since PepsiCo does not know specifically that the recipe was acquired improperly by Allen,the company cannot be guilty of misappropriation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: International Law and Global Commerce
Available Study Resources on Quizplus for this Chatper
80 Verified Questions
80 Flashcards
Source URL: https://quizplus.com/quiz/46097
Sample Questions
Q1) Which treaty is a standard that courts use for interpreting treaty law?
A) Convention on the Recognition and Enforcement of Foreign Laws.
B) U.N. Treaty on Foreign Jurisprudence.
C) Berne Convention.
D) Vienna Convention on the Law of Treaties.
Q2) What are the roles of the International Court of Justice?
Q3) The Paris Convention sets international standards for the patentability of inventions. A)True
B)False
Q4) What is the problem with the Madrid Protocol?
A) There are no specifics that actually require fundamental enforcement from signatory countries.
B) Few countries have signed the agreement.
C) The European Union chose to create its own agreement instead of following the Madrid Protocol's terms.
D) The terms of the protocol are very limited in their application.
Q5) The ICC,LCIA,and AAA all use the same rules to govern their arbitrations.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 27