Law, Ethics, and Corporate Responsibility
Pre-Test Questions
Course Introduction
This course explores the intersection of law, ethics, and corporate responsibility in the modern business environment. Students will examine the legal and regulatory framework that governs corporate behavior, as well as ethical theories and their application to real-world dilemmas faced by organizations and their leaders. Emphasis is placed on corporate governance, social responsibility, compliance systems, ethical decision-making, and the broader impact of business on society. Through case studies and practical examples, participants will develop the skills to recognize, analyze, and address ethical and legal challenges in corporate contexts.
Recommended Textbook
The Legal Environment Today 7th Edition by Roger LeRoy Miller
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Chapter 1: Business and Its Legal Environment
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Q1) Jill is an appellate court judge.In this capacity,Jill establishes a rule of law.Under the doctrine of stare decisis,the principle must be adhered to by A)all courts.
B)courts of lower rank only.
C)that court and courts of lower rank.
D)that court only.
Answer: C
Q2) Judges use precedent when deciding a case in a common law legal system. A)True
B)False
Answer: True
Q3) Refer to Fact Pattern 1-1.These opinions are collected and published in volumes called A)citations.
B)codes.
C)regulations.
D)reporters.
Answer: D
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Chapter 1: A: Online Developments:
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Q1) Lauren,a basketball coach at State University,schemes to fraudulently obtain scholarships for her team's players.This is most likely
A)honest-services fraud,a federal crime.
B)a violation of collegiate athletic rules but no crime.
C)a breach of university rules but no civil or criminal wrong.
D)unethical but no crime.
Answer: A
Q2) Keisha is a state court judge.A statute of limitations limits
A)the amount of a judgment that Keisha can issue in any one case.
B)the length of a trial in Keisha's court.
C)the number of cases that Keisha is permitted to hear.
D)the time during which a certain suit can be brought in Keisha's court.
Answer: D
Q3) Under the rules of Pushtunwali,the members of the jirga make decisions based on A)history,custom,and their own experience.
B)foreign government pressure and "modern" values.
C)prayer,Koranic verses,and religious interpretations.
D)the need to take revenge for a loss of family nang,or honor.
Answer: A
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Page 4
Chapter 2: Ethics and Business Decision Making
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Sample Questions
Q1) Business ethics is consistent only with short-run profit maximization.
A)True
B)False
Answer: False
Q2) In making decisions for United Merchandising Company,Vance uses a cost-benefit analysis.This is part of
A)duty-based ethics.
B)Kantian ethics.
C)the principle of rights.
D)utilitarianism.
Answer: D
Q3) John is sales manager for Kleen 'N Brite Products,Inc.Compared to John's personal activities,his business activities most likely involve
A)more complex ethical issues.
B)no ethical issues.
C)simpler ethical issues.
D)the same ethical issues.
Answer: A
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Chapter 3: Courts and Alternative Dispute Resolution
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Q1) The Idaho Supreme Court rules against Jiffy Mart in a case against Kwik Stop Stores,Inc.Jiffy Mart files an appeal with the United States Supreme Court.The Court does not hear the case.This
A)is a decision on the merits with value as a precedent.
B)indicates agreement with the Idaho court's decision.
C)means nothing.
D)means that the Idaho court's decision is the law in Idaho.
Q2) Emil wants to initiate a suit against Fast Credit Company by filing a complaint.The complaint should include
A)an explanation of the proof to be offered at trial.
B)a motion for judgment n.o.v.
C)a motion for judgment on the pleadings.
D)a statement of the grounds for the court to exercise jurisdiction.
Q3) Owen,in Pennsylvania,and Quik Jobs,Inc.,in Maryland agree to have their dispute resolved in arbitration according to the law of Virginia.This is a ground for a court to A)do nothing.
B)review the merits of the dispute.
C)review the sufficiency of the evidence.
D)set aside the award.
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Page 6
Chapter 4: Constitutional Authority to Regulate Business
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Q1) The Bill of Rights protects individuals against types of interference by the federal government.
A)True
B)False
Q2) Oklahoma enacts a law requiring all businesses in the state to donate 10 percent of their profits to Protestant churches that provide certain services to persons whose income is below the poverty level.PriceLess Stores files a suit to block the law's enforcement.The court would likely hold that this law violates
A)no clause in the U.S.Constitution.
B)the establishment clause.
C)the free exercise clause.
D)the supremacy clause.
Q3) Melanie engages in speech that harms others' good reputations on her blog at no.lie.com.The First Amendment gives such speech
A)less protection than obscene speech.
B)more protection than symbolic speech.
C)no protection.
D)the same protection as any noncommercial speech.
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Chapter 5: Torts,cyber Torts,and Strict Liabiity
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Q1) Joy invites Ken into her apartment.Ken commits trespass to land if he A)enters the apartment with fraudulent intent.
B)harms the apartment in any way.
C)makes disparaging remarks about Joy to others.
D)refuses to leave when Joy asks him to go.
Q2) Kai files a suit against Lana based on one of Lana's statements that Kai alleges is fraudulent.To give rise to fraud,the statement must be one of A)emotion.
B)fact.
C)illusion. D)opinion.
Q3) The public disclosure of private facts about a person is not an invasion of privacy if it is done without the person's knowledge or consent. A)True
B)False
Q4) To commit an intentional tort,one person must intend to harm a certain other person.
A)True
B)False
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Chapter 6: Criminal Law and Cyber Crime
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Q1) Kino sees a DVD player on the porch of Lulu's house,takes the player to his home,and tells everyone he owns it.Maya,holding a knife,forces Nick to give her his boom box,and runs away with it.Ollie breaks into Pam's apartment,takes a computer,and leaves.Which of these acts are crimes,and what are the differences among them
Q2) The crime of theft requires the taking of property,without regard to whether the perpetrator knew it belonged to another.
A)True B)False
Q3) Ciera digitally copies "Rampage" and other recent films without the authorization of the owners and transfers those copies freely to others via file-sharing Web sites.This is A)pirating.
B)spamming.
C)phishing.
D)vishing.
Q4) There is at least one circumstance in which a person cannot refuse to testify. A)True B)False
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Chapter 7: International Law in a Global Economy
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Q1) Hemisphere Financial Corporation,a U.S.firm,files a suit against Italy in a U.S.court.Italy claims foreign sovereign immunity.Under the Foreign Sovereign Immunities Act,this claim is determined by
A)a neutral third-party court.
B)an international law court.
C)an Italian court.
D)the U.S.court in which the suit is filed.
Q2) Senator Wyden and other politicians want to restrict the flow of technologically advanced products and data from the United States to other countries.To restrict or encourage exports,Congress can
A)do nothing.
B)assess antidumping duties.
C)impose export taxes.
D)set export quotas.
Q3) Force majeure clauses in international business contracts commonly set forth the major clauses of the contracts.
A)True
B)False
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10
Chapter 8: Intellectual Property and Internet Law
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Q1) Because the Internet is vast,the unauthorized use of another's mark in a domain name is generally permissible.
A)True
B)False
Q2) A marketing technique can be a trade secret.
A)True
B)False
Q3) Ellen publishes a book titled First Place,which includes a chapter from Frank's copyrighted book Great Racecar Drivers.Ellen's use of the chapter is actionable provided A)consumers are confused.
B)Ellen's use is intentional.
C)Ellen's use reproduces Frank's chapter exactly.
D)Ellen does not have Frank's permission.
Q4) A fanciful use of ordinary words may be trademarked.
A)True
B)False
Q5) In the United States,a patent is given to the first person to file for it.
A)True
B)False
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Chapter 8: A: Online Developments:
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Q1) The Anti-Counterfeiting Trade Agreement applies to
A)pirated copyrighted works distributed via the Internet.
B)personal financial information on its owner's laptop.
C)legally downloaded recordings on a user's iPod.
D)a business firm's trade secrets cached on the firm's server.
Q2) Pay-to-Buy.com,Inc.,applies to the U.S.Patent and Trademark Office for a patent on an online payment system.Business process patents are more likely to lead to litigation than patents oa tangible inventions because business process patents often involve A)fields that provide services.
B)machines.
C)processes that incorporate computer programs.
D)transformations of particular articles into different states or objects.
Q3) Girard accepts a job with Deep Vault Bank in reliance on assurances that Deep Vault will not soon be sold.In fact,negotiations to sell the bank are under way at the time that Girard is hired.Girard is most likely a victim of A)fraud.
B)mistake.
C)nothing.
D)puffery.
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Page 12
Chapter 9: Formation in Traditional and E-Contracts
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Q1) U-Can-Own-It Corporation sells appliances to less educated consumers,including Viv,on installment plans.U-Can-Own-It files a suit against Viv when she stops making payments.Viv claims that the deal is unconscionable.The court will most likely consider A)the geographic area of the relevant market.
B)the parties' relative bargaining power.
C)the quality of related products in the general market.
D)the relation of this deal to those of other customers.
Q2) A unilateral contract is formed when the one receiving the offer completes the requested act or performance.
A)True
B)False
Q3) The E-Sign Act preempts the uniform version of the Uniform Electronic Transactions Act.
A)True
B)False
Q4) A contract is void if one of the parties was intoxicated at the time of its formation.
A)True
B)False
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Chapter 10: Contract Performance,breach,and Remedies
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Q1) Real Cheap Painters,Inc.,agrees to paint Quint's house,using a particular brand of "discount" paint.Real Cheap completes the job but uses a different brand of discounted paint.This is most likely
A)an absolute excuse for Quint's refusal to pay.
B)a material breach.
C)complete performance.
D)substantial performance.
Q2) Under the Statute of Frauds,all contracts must be in writing to be enforceable. A)True
B)False
Q3) Quicksilver Delivery Service contracts to deliver Pete's Pizza Parlor's products to its customers for $5,000,payable in advance.Pete's pays the money,but Quicksilver fails to perform.Can Pete's rescind the contract Can Pete's also obtain restitution What does it mean to "rescind" a contract How is a contract rescinded What is restitution How is restitution accomplished Explain.
Q4) An incidental beneficiary cannot sue the promisor directly for breach of the contract. A)True
B)False
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Page 14
Chapter 11: Sales,leases,and Product Liability
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Sample Questions
Q1) Parker,a salesperson for Quality Textiles,Inc.,shows Rosa,a fabric buyer for Style Clothing Company,samples of cloth,stating that any shipment will match the samples.This statement is
A)an express warranty.
B)an implied warranty.
C)a warranty of title.
D)puffery.
Q2) One requirement for a product liability suit based on negligence is a failure to exercise due care.
A)True
B)False
Q3) Dorothy eats a candy bar made and sold by Eastwich Candy Corporation and becomes ill.Dorothy files a suit against Eastwich,alleging that the candy bar was not merchantable.Merchantable food is food that is fit to eat on the basis of A)consumer expectations.
B)what constitutes a perfect condition.
C)its maker's intentions.
D)its producer's experience.
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15
Chapter 12: Creditor-Debtor Relations and Bankruptcy
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Q1) Delia refuses to pay Ewing $500 in cash on their contract to repair certain theater sets,which Ewing still possesses.Ewing's lien on the sets will terminate
A)if Ewing continues to maintain possession.
B)if Ewing does not file a written notice of lien within thirty days.
C)if Ewing voluntarily surrenders possession.
D)within thirty days.
Q2) Delilah files a petition in bankruptcy.The proceeding is governed by the Bankruptcy Code,which is part of A)state law.
B)federal law.
C)the U.S.Constitution.
D)international law.
Q3) Certain liquidation cases may be converted to repayment plan cases with the consent of the debtor.
A)True
B)False
Q4) A debtor's vehicle is never exempt from satisfaction of a judgment debt.
A)True
B)False
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Chapter 13: Mortgages Foreclosures After the Recession
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Q1) Sierra borrows $175,000 from Regional Home Finance Corporation to buy a home.The loan is a twenty-year,3/1,adjustable-rate mortgage,with an initial interest rate of 4.0 percent for three years and potential increases of up to 3.0 percent to a cap of 11.0 percent.Before the loan is completed,the lender discloses the amount of the loan principal,the initial interest rate,the initial annual percentage rate,and associated fees and costs.Not disclosed are material details about the amounts of the payments when the interest rate changes.Before the first increase takes effect,Sierra decides that she wants to rescind the loan.What is a "twenty-year,3/1,adjustable-rate mortgage" Can Sierra rescind this loan Why or why not
Q2) Denise borrows $90,000 from Clear Lake Credit Union to buy a home.Denise loses her job and fails to make payments on the mortgage,but assures Clear Lake Credit that she will soon secure a new job.The lender agrees to postpone the payments.This is
A)a bridge loan.
B)forbearance.
C)a reamortization.
D)a restructure.
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Chapter 14: Small Business Organizations
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Q1) A limited liability company can be taxed as a partnership.
A)True
B)False
Q2) A franchise agreement between Software<sup>2</sup> Company and Games<sup>3</sup>,Inc.,is silent on a time for termination of the franchise.Software<sup>2</sup> may
A)never terminate.
B)terminate at any time.
C)terminate on reasonable notice.
D)terminate on three days notice.
Q3) Coco is considering forms of business organization for her concessions business-Coco's Cupcakes.Most states require that a limited liability company have
A)no minimum number of members.
B)at least one member.
C)at least two members.
D)at least three members,including at least one general partner.
Q4) A sole proprietorship lacks continuity on the death of the proprietor.
A)True
B)False
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Chapter 14: A: Landmark in the Legal Environment:
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Q1) Dingo Bangles Company wants to present information in "disclosure documents" via the Internet to prospective franchisees.Among other legal requirements with which Dingo must comply,prospective franchisees must
A)agree to settle any lawsuits that may arise over the documents.
B)be able to download or save all electronic documents.
C)provide e-mail addresses for Dingo to verify users' authenticity.
D)register with the Federal Trade Commission via Dingo's Web site.
Q2) Darla,who has a disability,applies for a job with Elite Auto & Truck Company.According to the Equal Employment Opportunity Commission,before Elite makes a job offer,the company may ask Darla
A)how many days she was sick last year.
B)questions about previous workers' compensation claims.
C)special questions about the extent of her disability.
D)whether she can meet the attendance requirements.
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Chapter 15: Corporations
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Q1) Sophie and Tiny incorporate their beverage-container business as U-Twist Products,Inc.The first board of directors may be appointed by the firm's A)board of directors.
B)incorporators.
C)officers.
D)shareholders.
Q2) Officers and employees of Apples Corporation and Oranges Corporation are convicted of conspiring to violate a federal law that is punishable by a term of imprisonment and a fine.Can Apples and Oranges be held liable for these crimes If so,how can they be punished
Q3) A corporation is referred to as a domestic corporation by its home state.
A)True
B)False
Q4) Implied powers of a corporation are expressed in state statutes.
A)True
B)False
Q5) Shareholders are the ultimate authority in every corporation.
A)True
B)False
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Chapter 16: Agency
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Q1) Lenore is the sole proprietor of Mall Kiosks.With respect to contracting for her own business interests,Lenore is
A)an agent and has the authority.
B)an agent but does not have the authority.
C)not an agent and does not have the authority.
D)not an agent but does have the authority.
Q2) Dizzy is not Edwina's agent but enters into a contract with Frida on Edwina's behalf.Edwina later contacts Frida to approve the contract.This is
A)an agency by agreement.
B)an agency by estoppel.
C)an agency by ratification.
D)not the creation of an agency relationship.
Q3) An agency relationship cannot exist in the absence of a formal agreement. A)True
B)False
Q4) Before a principal can ratify a contract,the agent must withdraw from the deal.
A)True
B)False
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Chapter 17: Employment,immigration,and Labor Law
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Q1) Myron is an employee of Nero.Either party can terminate the employment relationship at any time for any reason without liability.With respect to the employment-at-will doctrine,this is
A)an example of the doctrine.
B)an exception based on contract theory.
C)an exception based on public policy.
D)an exception based on tort theory.
Q2) There are no exceptions to the employment-at-will doctrine.
A)True
B)False
Q3) General Packaging Corporation,a U.S.employer,may hire Hilo,a noncitizen,if Hilo is
A)a lawful permanent resident of the United States.
B)an unlawful but hopefully permanent resident in the United States.
C)an unlawful but only temporary resident in the United States.
D)any of the choices.
Q4) An employer can refuse to bargain collectively with an elected employee representative.
A)True
B)False
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Chapter 18: Employment Discrimination
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Q1) Under the Americans with Disabilities Act of 1990,disabled employees are entitled to "reasonable accommodation."
A)True B)False
Q2) Under the Equal Pay Act of 1963,all of the women on an employer's staff must be paid the same as all of the men.
A)True B)False
Q3) Refer to Fact Pattern 18-3.Manny believes that he has been discriminated against on the basis of his age.For the Age Discrimination in Employment Act of 1967 to apply
A)all parties must be forty years of age or younger.
B)Lita must be forty years of age or older.
C)Manny must be forty years of age or older.
D)NBC must have been in existence for at least forty years.
Q4) The Civil Rights Act of 1964 prohibits job discrimination on the basis of experience. A)True B)False
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23
Chapter 19: Powers and Functions of Administrative Agencies
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Q1) The federal government must disclose certain records to any person or entity on written request only if there is a rational reason for the request.
A)True
B)False
Q2) After notice-and-comment rulemaking,the U.S.Bureau of Land Management (BLM)issues a new rule and applies it to Clearcut Timber Company.Clearcut appeals the application to a federal court.The court will most likely defer to the BLM's interpretation of A)the facts and the law.
B)the agency's authority.
C)procedural requirements.
D)the Constitution.
Q3) All federal government agencies must make their records available electronically on the Internet.
A)True B)False
Q4) Only experts can submit comments on a proposed administrative rule. A)True B)False
Page 24
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Chapter 20: Consumer Protection
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Q1) Advertising will not be deemed deceptive so long as it appears to be based on factual evidence,even if it is not.
A)True
B)False
Q2) Consumer Finance Corporation (CFC)extends credit to consumers.CFC is subject to the Equal Credit Opportunity Act,which prohibits credit discrimination based on A)disability.
B)education.
C)income.
D)race.
Q3) Paychex Loan Company extends credit in the ordinary course of its business.Under the Truth-in-Lending Act,Paychex must inform potential borrowers of A)credit terms offered by other lenders and its own credit terms. B)no credit terms.
C)only its own credit terms.
D)only the credit terms that will convince borrowers to "close the deal."
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Chapter 21: Protecting the Environment
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Q1) When a release of hazardous chemicals from a site occurs,potentially responsible parties can avoid liability through transfer of ownership.
A)True
B)False
Q2) The Environmental Protection lists all hazardous air pollutants (HAPs)on a prioritized schedule.
A)True
B)False
Q3) Metro City operates its own municipal public drinking water system for which the Environmental Protection Agency has set maximum levels of pollutants.Metro does not use any equipment to meet these standards.With regard to any contamination of the water,under the Safe Drinking Water Act,this is most likely
A)a violation.
B)not a violation because Metro does not set the standards.
C)not a violation because water is not a stationary source.
D)not a violation because Metro does not use any equipment.
Q4) Those who knowingly violate the Clean Air Act are exempt from liability.
A)True
B)False
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Chapter 22: Real Property and Land-Use Control
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Q1) Sid rents an apartment from Town Properties,Inc.The lease,which ends on May 31,does not include an option for renewal,and Sid and Town do not discuss whether Sid can stay on at the end of the term.On June 1,Sid has
A)an implied option to renew the term.
B)a right to remain contingent on notice from Town.
C)a right to remain subject to notice to Town.
D)no right to remain.
Q2) Mix-It Concrete Company has the right to enter Nim's land and remove the rock from Nim's quarry.This is
A)a fee simple absolute.
B)a license.
C)an easement.
D)a profit.
Q3) The implied warranty of habitability does not apply to substantial physical defects that a landlord knows about.
A)True
B)False
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Chapter 23: Antitrust Law and Promoting Competition
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Q1) The basic purpose of antitrust law is to regulate economic competition.
A)True
B)False
Q2) A firm can have market power without violating antitrust law.
A)True
B)False
Q3) Acquiring monopoly power through anticompetitive means violates antitrust law.
A)True
B)False
Q4) To acquire monopoly power in its market,Perfect Plastics,Inc.,sets its prices lower than its competitors.Under the Sherman Act,this is
A)a per se violation.
B)a violation if its competitors make similar deals.
C)a violation if it thereby acquires monopoly power.
D)not a violation.
Q5) U.S.antitrust law may protect foreign consumers and competitors from violations by U.S.firms.
A)True
B)False
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Chapter 24: Investor Protection and Corporate Governance
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Q1) Pumping up a company occurs when a single person using multiple aliases on an online forum creates the illusion of widespread interest in a stock.
A)True
B)False
Q2) Private parties cannot sue violators of Section 10(b)and Rule 10b-5.
A)True
B)False
Q3) Hi-Five Aero Corporation is required to register its securities under Section 12 of the Securities Exchange Act of 1934.Section 14(a)of the act regulates
A)the declaration of dividends by Hi-Five's board of directors.
B)the later re-registration of Hi-Five's securities.
C)the short-swing activities of Hi-Five's insiders.
D)the solicitation of proxies from Hi-Five's shareholders.
Q4) Generally,stock offerings that are made in a limited manner during any twelve-month period are not exempt from the registration requirement.
A)True
B)False
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