Legal Aspects of Business Study Guide Questions
Course Introduction
Legal Aspects of Business explores the fundamental legal principles and frameworks that influence business operations in both domestic and international contexts. The course covers key topics such as contract law, company law, intellectual property rights, consumer protection, employment regulations, and dispute resolution mechanisms. By examining real-world cases and current legal developments, students gain an understanding of how the law impacts decision-making, risk management, and ethical practices in business environments, preparing them to navigate legal challenges effectively in their future careers.
Recommended Textbook
Business Law Today Comprehensive 9th Edition by Roger
Available Study Resources on Quizplus
45 Chapters
3172 Verified Questions
3172 Flashcards
Source URL: https://quizplus.com/study-set/3656
Page 2
LeRoy Miller
Chapter 1: The Legal Environment
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72747
Sample Questions
Q1) The basis for the U.S.legal system is the natural law school.
A)True
B)False
Answer: True
Q2) Courts can rely on the common law as a guide to interpreting legislation.
A)True
B)False Answer: True
Q3) Standard Business Company appeals a decision against it,in favor of Top Flight Corporation,from a lower court to a higher court.Standard is
A)the appellant.
B)the appellee.
C)the defendant.
D)the plaintiff.
Answer: A
Q4) A state law that conflicts with the U.S.Constitution will be deemed unconstitutional. A)True
B)False Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Constitutional Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72748
Sample Questions
Q1) Serene City enacts an ordinance that bans the use of "sound amplifying systems" on public streets.Tyler wants to campaign for a seat on the city council by broadcasting his message through speakers mounted on a truck.In Tyler's suit against the city,a court would likely hold the ordinance to be
A)an unconstitutional restriction of speech.
B)constitutional under the First Amendment.
C)justified by the need to protect individual rights.
D)necessary to protect national interests.
Answer: B
Q2) Federico,the president of Gems Retail Corporation,claims that certain actions by the federal government and the state of New Mexico infringe on rights guaranteed by the Bill of Rights.Most of these rights limit
A)neither New Mexico nor the federal government.
B)the federal government only.
C)New Mexico and the federal government.
D)New Mexico only.
Answer: C
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Courts and Alternative Dispute Resolution
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72749
Sample Questions
Q1) Interrogatories are written questions for which written answers are prepared and signed under oath.
A)True
B)False
Answer: True
Q2) Lynn files a suit against Karl.Karl denies Lynn's charges and sets forth his own claim that Lynn breached their contract and owes Karl money for the breach.This is
A)a counterclaim.
B)a crosclaim.
C)an affirmative defense.
D)an irrelevant response.
Answer: A
Q3) 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.
Answer: D
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Torts and Cyber Torts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72750
Sample Questions
Q1) An Iowa state statute requires amusement parks to maintain equipment in specific condition for the protection of patrons.Jack's Fun Park fails to maintain its equipment.Key,a patron,is injured.Jack's has committed A)a dram shop act.
B)contributory negligence.
C)negligence per se.
D)res ipsa loquitur.
Q2) A state statute requires machinery in industrial plants to include automatic shut-off switches accessible to each employee working on the machine.Steel Company's (SC's)equipment does not have the switches.Trudy,an SC employee,suffers an injury that an accessible shut-off switch would have prevented.Trudy's best theory for recovery against SC is
A)assumption of risk.
B)negligence per se.
C)res ipsa loquitur.
D)strict liability.
Q3) Defamation is one person's use of another's name without permission.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 6
Chapter 5: Intellectual Property and Internet Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72751
Sample Questions
Q1) Cathy uses,on her new recording Drive By,the exact note-for-note melody of a song written by Earl without his permission.This is
A)copyright infringement.
B)patent infringement.
C)trademark infringement.
D)a theft of trade secrets.
Q2) Standard Corporation can not claim a trademark in the phrase "Quality Is Standard" if the phrase
A)has a secondary meaning.
B)is descriptive.
C)is generic.
D)means nothing.
Q3) A marketing technique can be a trade secret.
A)True
B)False
Q4) A patent applicant must demonstrate that the invention,discovery,or design is commercially practicable to receive a patent.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Criminal Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72752
Sample Questions
Q1) Criminal liability depends on the performance of a prohibited act.
A)True
B)False
Q2) The crime of bribery occurs when the bribe is offered even if it is not accepted.
A)True
B)False
Q3) Stealing software is not a crime.
A)True
B)False
Q4) Bruno is a businessperson with investments in legal and illegal operations.Bruno may be subject to penalties under RICO
A)for making an unprofitable,but legal,investment.
B)for the commission of any business fraud.
C)only in a case involving a "racket."
D)only in a case involving organized crime.
Q5) Money laundering includes making "dirty" money "clean" of legitimate businesses.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Cyber Crime
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72753
Sample Questions
Q1) Because embezzlement is considered a white-collar crime,it cannot be considered a computer crime.
A)True
B)False
Q2) It is not identity theft to use a fabricated identity to access online funds.
A)True
B)False
Q3) Via e-mail,Vern makes repeated credible threats to Ursula that put her in reasonable fear for her safety.This is
A)cyber stalking.
B)employment fraud.
C)phishing.
D)vishing.
Q4) Rashad accesses Quant Company's computer system without authority to obtain protected financial data.Under federal law,this is
A)a felony if it is committed for a commercial purpose.
B)a felony if Quant brings a civil suit against Rashad.
C)not a crime.
D)a crime,but not a felony.
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Ethics and Business Decision Making
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72754
Sample Questions
Q1) An ethics program can clarify what a company considers to be unacceptable conduct.
A)True
B)False
Q2) Lyle,vice-president of sales for Mi-T Electric,Inc.,adheres to Judeo-Christian religious ethical standards.With respect to their application,these standards are
A)absolute.
B)analytical.
C)discretionary.
D)utilitarian.
Q3) Setting realistic workplace goals can reduce the probability that employees will act unethically.
A)True
B)False
Q4) An action may be legal but not ethical.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 9: Nature and Classification
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72755
Sample Questions
Q1) Cathy assures Don that she will deliver his products as he directs.An assertion that one will do something in the future is part of the definition of
A)a declaration.
B)a moral obligation.
C)an ethical principle.
D)a promise.
Q2) On Monday,Neil tells Outdoor Landscaping,Inc.,that he will pay Outdoor $500 if a variety of tasks are completed by Friday.On Wednesday,when Outdoor is more than half done with the work,Neil says that he has changed his mind.These parties had
A)an expired contract when Neil said that he had changed his mind.
B)a quasi contract when Neil said that he would pay for certain work.
C)a unilateral contract as soon as Outdoor began to perform.
D)no contract.
Q3) Cody signs and returns a letter from Dora,referring to Dora's Double-D Ranch and its price.When Cody attempts to complete the deal,Dora refuses,claiming that they have no contract.Cody claims they do.What standard determines whether these parties have a contract
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Agreement in Traditional and E-Contracts
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72756
Sample Questions
Q1) An effective offer requires a reasonable price related to market value.
A)True
B)False
Q2) Order Processing Corporation and Pinpoint Data,Inc.,enter into a contract online in a state that has enacted an unmodified version of the UETA.With regard to the E-SIGN Act
A)the E-SIGN Act does not preempt this version of the UETA.
B)the E-SIGN Act preempts this version of the UETA.
C)the "fit" between the acts is an issue for a court to determine.
D)the two acts "cancel" each other's application.
Q3) Lively Toys Store and Movin' Products Company (MPC)enter into an e-contract under which MPC agrees to ship a case of electronic,remote-controlled bugs to Lively Toys,which agrees to pay on delivery.The Uniform Electronics Transactions Act (UETA)
A)denies the enforcement of such contracts.
B)does not apply to such contracts.
C)preempts all other laws with respect to such contracts.
D)supports the enforcement of such contracts.
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Consideration
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72757
Sample Questions
Q1) If a promise is made,it will be enforced.
A)True
B)False
Q2) Numeric Methods Corporation promises to give stock options to Orin,a project schedule manager,for projects that have already been completed ahead of schedule.This promise is
A)enforceable because it is a new contract.
B)enforceable because it is an illusory promise.
C)enforceable because it is supported by past consideration.
D)unenforce?able.
Q3) Risks ordinarily assumed in business do not constitute consideration for the modification of a contract.
A)True B)False
Q4) A promise to pay for an act that has yet to occur is unenforceable.
A)True B)False
Q5) If a debt is liquidated,an accord and satisfaction cannot take place.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Capacity and Legality
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72758
Sample Questions
Q1) A contract with an unlicensed professional is never enforceable.
A)True
B)False
Q2) Disaffirmance is the legal avoidance of a contractual obligation.
A)True
B)False
Q3) Jacquie signs a contract to buy a car just before reaching the age of majority.After reaching the age of majority,Jacquie does not take possession or make payments.Most courts would hold,with respect to the contract,that this is
A)disaffirmance.
B)emancipation.
C)ratification.
D)rescission.
Q4) A covenant not to compete between ongoing businesses is always enforceable.
A)True
B)False
Q5) If an illegal contract is executory,either party can enforce it.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Voluntary Consent
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72759
Sample Questions
Q1) Only a mistake in value will make a contract voidable.
A)True
B)False
Q2) Refer to Fact Pattern 13-1.Opal's best argument in favor of enforcement of the contract is that
A)a bilateral mistake does not afford relief from a contract.
B)a mistake of value does not afford relief from a contract.
C)a unilateral mistake does not afford relief from a contract.
D)the price was below the prices of comparable devices.
Q3) Misrepresentation of a material fact can occur through words alone.
A)True
B)False
Q4) Even if an obvious,significant clerical error exists in a written contract,the contract is enforceable.
A)True
B)False
Q5) Scienter refers to a material fact's scientific basis.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: The Statute of Fraudswriting Requirement
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72760
Sample Questions
Q1) Nori files a suit against Mica to enforce an oral contract for the sale of lakeshore property that would otherwise be unenforceable under the Statute of Frauds.The court could enforce the deal if
A)Nori foreseeably and justifiably relied on Mica's promise to her detriment.
B)Mica denies the existence of any contract.
C)neither party has begun to perform.
D)the deal does not involve customized goods.
Q2) Chloe files a suit against Digital Consultants,Inc.(DCI),to enforce a contract.The only written evidence of the contract is a memo in DCI's files written on DCI's letterhead and signed by a DCI officer.The contract can be enforced if the memo includes
A)a correct title,such as "Chloe-DCI Contract."
B)all essential terms.
C)a statement of the consideration.
D)the parties' addresses.
Q3) A contract involving a lease of land does not need to be in writing to be enforceable.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 16
Chapter 15: Performance and Discharge
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72761
Sample Questions
Q1) A party's refusal to perform his or her contractual obligations is a rescission.
A)True
B)False
Q2) When a contract party alters a written contract,the other party must adapt his or her performance accordingly.
A)True
B)False
Q3) Anything less than substantial performance is a material breach of contract.
A)True
B)False
Q4) After a contract is made,a supervening event may make performance impossible and discharge the contract.
A)True
B)False
Q5) A promise to perform under a contract is never absolute.
A)True
B)False
Q6) A condition subsequent terminates a party's promise to perform.
A)True
B)False
Page 17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Breach and Remedies
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72762
Sample Questions
Q1) Specific performance is the remedy customarily used when one party has breached a contract for a sale of land.
A)True
B)False
Q2) The duty owed under the mitigation of damages doctrine depends on the situation. A)True
B)False
Q3) Office Accounting,Inc.,hires Perry to repair a computer on site for $400,but Perry does not show up as agreed.Office Accounting hires Raul to do the job for $350.Office Accounting may recover from Perry
A)compensatory damages.
B)consequential damages.
C)nominal damages.
D)punitive damages.
Q4) Nominal damages normally establish that the defendant acted wrongly. A)True B)False
Q5) Punitive damages are almost never available in contract disputes. A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 18
Chapter 17: Third Party Rights
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72763
Sample Questions
Q1) Xtra Finance Company is a creditor beneficiary in a deal that involves Yvon and Zack.Xtra,like most creditor beneficiaries,is
A)a donee beneficiary.
B)an incidental beneficiary.
C)an intended beneficiary.
D)none of the choices.
Q2) George promises to repair Ford's boat dock in exchange for Efrem's promise to plant trees on George's property.This is
A)a delegation.
B)an assignment.
C)a third party beneficiary contract.
D)an alienation.
Q3) McCall and Teresa enter into a contract for the distribution of McCall's produce to local restaurants for which Teresa agrees to pay.McCall transfers his right to payment under the contract to Midtown Bank.This transfer is
A)a delegation.
B)an assignment.
C)a novation.
D)prohibited.
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 18: The Formation of Sales and Lease Contracts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72764
Sample Questions
Q1) Recreation Supplies,Inc.(RSI),and Sam,the owner of Tourist Time Shop,orally agree to a sale of beach balls and seashells for $1,000.Sam gives RSI a check for $400 as a partial payment.This contract is
A)enforceable to the extent of $400.
B)fully enforceable because it is for specially made goods.
C)fully enforceable because it is oral.
D)not enforceable.
Q2) Better Sales,Inc.,is the offeror and City Goods Corporation is the offeree under a unilateral sales contract in which Design Products Company is also interested.Better is not notified of City's performance within a reasonable time.Better
A)may treat the offer as having lapsed.
B)must assume that City has started to perform.
C)must contact City.
D)must contract with Design.
Q3) If a sales contract is unilateral,the offeror need not be notified of the offeree's performance.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 19: Title and Risk of Loss
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72765
Sample Questions
Q1) Real Foods Corporation orders from Savory Company goods that are stored in an Uptown,Inc.,warehouse.Real Foods pays for the goods,delivery is via the transfer of a negotiable warehouse receipt,and Real Foods moves the goods out of the warehouse.The risk of loss passes to Real Foods when it
A)orders the goods.
B)pays for the goods.
C)receives the negotiable warehouse receipt.
D)moves the goods out of the warehouse.
Q2) Aromatic Tea Company contract to sell tea to Savory Stores,Inc.The contract includes the term "F.O.B.Upriver City," which is Savory's location.This means that the contract is
A)a bailment contract.
B)a destination contract.
C)a shipment contract.
D)a transportation contract.
Q3) If a sale involves crops that are to be harvested within twelve months,identification takes place when the crops are planted.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 21
Chapter 20: Performance Breach of Sales Lease Contracts
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72766
Sample Questions
Q1) A buyer who rightfully rejects nonconforming goods can resell the goods and keep the proceeds.
A)True B)False
Q2) According to the court in Case 20.1,Maple Farms,Inc.v.City School District of Elmira,the defense of commercial impracticability will not excuse the performance of a contractual obligation when there is an increase in the seller's costs while the contract is in force
A)unless the increase in the seller's costs is substantial.
B)under any circumstances.
C)unless the increase in the seller's costs makes it impossible for the seller to perform without losing money.
D)unless the increase in the seller's costs was not foreseeable at the time the contract was formed.
Q3) If a lessee wrongfully refuses to accept goods that conform to a contract,the lessor must tender substitute goods.
A)True B)False
To view all questions and flashcards with answers, click on the resource link above.
22
Chapter 21: Warranties and Product Liability
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72767
Sample Questions
Q1) A design defect is not the sort of product defect that will support the imposition of liability on a strict product liability basis.
A)True
B)False
Q2) 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)puffing.
Q3) Warranties of title do not arise in most sales contracts.
A)True
B)False
Q4) A warranty against infringement is a promise by the seller that the product was constructed in a workmanlike manner.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 23
Chapter 22: Negotiable Instruments: Transferability Liability
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72768
Sample Questions
Q1) Vera gives Willy a $500 check as payment for a debt.Willy crudely raises the amount of the check to $5,000 and transfers it to Xtreem Sportz store for a new bike.Xtreem deposits the check in its Yankee Bank account.Vera is liable for the payment of $5,000 to A)no one.
B)Willy,Xtreem Sportz,and Yankee Bank.
C)Willy only.
D)Xtreem Sportz and Yankee Bank only.
Q2) Quincy draws a check payable to "Replay Stadium" to buy two season tickets to the next year's State College football games.This instrument is
A)a bearer instrument.
B)an order instrument.
C)valid but nonnegotiable.
D)void.
Q3) A person who in good faith acquires a negotiable instrument from a thief cannot become an HDC.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 24
Chapter 23: Checks and Banking in the Digital Age
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72769
Sample Questions
Q1) A customer has sixty days from the date of receipt of a statement of an electronic transfer to notify the financial institution of any errors.
A)True
B)False
Q2) Kip writes a check for $1,000 drawn on Local Bank and presents it to Mira.Mira presents the check for payment to Local Bank,which dishonors it.The party most likely liable to Mira is
A)Kip in a civil suit.
B)Kip in a criminal prosecution.
C)Local Bank in an administrative proceeding.
D)neither Kip nor Local Bank.
Q3) Elmo pays First National Bank $1,000 plus a service fee to draw a check on itself made payable to Go Delivery Service.This is
A)a cashier's check.
B)a certified check.
C)a trade acceptance.
D)a traveler's check.
To view all questions and flashcards with answers, click on the resource link above.
25
Chapter 24: Security Interests in Personal Property
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72770
Sample Questions
Q1) Expert Capital Company and Frugal Financial Bank are secured parties with security interests in property owned by Grande Corporation.Between these security interests,the first to be filed or perfected has priority over other filed or perfected security interests in A)most circumstances.
B)no circumstances.
C)states that have not adopted Article 9 of the UCC.
D)states that require a security agreement to be signed and dated by the creditor.
Q2) Intermittent advances against a line of credit can be subject to the same collateral. A)True
B)False
Q3) A financing statement is effective only if it is filed electronically. A)True
B)False
Q4) A purchase-money security interest in consumer goods is perfected automatically at the time of a credit sale.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 26
Chapter 25: Other Creditors Remedies and Suretyship
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72771
Sample Questions
Q1) A creditors' composition agreement is usually held to be unenforceable.
A)True
B)False
Q2) A guaranty contract must be in writing to be enforceable.
A)True
B)False
Q3) 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 surrenders possession.
D)within thirty days.
Q4) A surety is released from his or her obligation if a debtor cannot pay a debt.
A)True
B)False
Q5) A debtor's "business tools" may be exempt from satisfaction of a judgment debt.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 27
Chapter 26: Bankruptcy
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72772
Sample Questions
Q1) A trustee has the power to set aside a sale of the debtor's property.
A)True
B)False
Q2) Any "person" may be a debtor in a liquidation proceeding.
A)True
B)False
Q3) If,within a certain time after a discharge,it is discovered that a debtor concealed property to defraud a creditor,the discharge may be revoked.
A)True
B)False
Q4) A bankruptcy court may deny a discharge based on the debtor's conduct.
A)True
B)False
Q5) Refer to Fact Pattern 26-2.The highest priority with respect to payment of claims belongs to
A)Kay and Music,Inc.
B)Jazz Dance Studio.
C)Lora.
D)unnamed general creditors.
To view all questions and flashcards with answers, click on the resource link above. Page 28
Chapter 27: International Law in a Global Economy
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72773
Sample Questions
Q1) Call Center Corporation,a U.S.firm,owns property in India.The government of India seizes the property for a proper public purpose and pays Call Center just compensation.This is A)confiscation.
B)defalcation.
C)dumping.
D)expropriation.
Q2) Business Corporation,a U.S.firm,and Comercial,S.A.,a Mexican firm,are parties to a contract that does not specify a choice of law.The governing law is that of
A)any third country.
B)Spain.
C)the buyer's place of business.
D)the seller's place of business.
Q3) WiFi Corporation,a U.S.firm,signs a contract with Bueno Computadores,Ltd.,an Argentinean firm,for a shipment and payment for WiFi's goods.This is
A)a distribution agreement.
B)a joint venture.
C)direct exporting.
D)licensing.
To view all questions and flashcards with answers, click on the resource link above.
Page 29
Chapter 28: Agency Relationships in Business
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72774
Sample Questions
Q1) Jock hires Kym to act as his agent to purchase Lifetime Gym & Fitness,Inc.Jock tells Kym to reveal that she is buying the firm on behalf of a third party and to tell Lifetime's seller who that third party is.Jock is
A)a disclosed principal.
B)an apparent principal.
C)an undisclosed principal.
D)a partially disclosed principal.
Q2) Jim agrees to act on Kit's behalf,subject to Kit's control,and Kit trusts Jim to so act.This describes a relationship between
A)a business and its competitors.
B)a government and its governed.
C)a parent and a child.
D)a principal and an agent.
Q3) Building subcontractors are not independent contractors.
A)True
B)False
Q4) A principal owes an agent a duty of accounting.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 30
Chapter 29: Employment, immigration, and Labor Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72775
Sample Questions
Q1) During a union election campaign at Skyscraper Construction Corporation,the employer can,without monitoring or regulating by the National Labor Relations Board,threaten employees with
A)a layoff only.
B)a layoff or a reduction in benefits and wages.
C)a reduction in benefits and wages only.
D)neither a layoff nor a reduction in benefits and wages.
Q2) Employee contributions to pension plans vest immediately.
A)True
B)False
Q3) Fruits & Vegetables,Inc.,employs hundreds of seasonal and permanent workers,both skilled and unskilled,in seven states.Under the Immigration Act of 1990,Fruits & Vegetables can hire illegal immigrants
A)if either the employer or the immigrants file special forms.
B)only if the employer files a special form.
C)only if the immigrants file special forms.
D)under no circumstances.
Q4) All unemployed workers are eligible for unemployment compensation.
A)True
B)False
Page 31
To view all questions and flashcards with answers, click on the resource link above.
Chapter 30: Employment Discrimination
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/72776
Sample Questions
Q1) Olly applies for a job with Petro Company.Petro does not hire Olly because of his ethnicity,or national origin.This is
A)desperate-measure discrimination.
B)disparate-impact discrimination.
C)disparate-treatment discrimination.
D)not discrimination.
Q2) An employer can be liable for an employee's sexual harassment of a member of the same gender.
A)True
B)False
Q3) 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
Q4) A victim of alleged discrimination must bring a suit against an employer before filing a claim with the Equal Employment Opportunity Commission.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 32
Chapter 31: Sole Proprietorships and Private Franchises
Available Study Resources on Quizplus for this Chatper
71 Verified Questions
71 Flashcards
Source URL: https://quizplus.com/quiz/72777
Sample Questions
Q1) Riley is interested in buying a franchise from Soft Shoe Corporation.Soft Shoe must disclose material facts that Riley needs to make an informed decision concerning this purchase,according to A)no law.
B)the federal service-station franchise termination law.
C)the Federal Trade Commission's Franchise Rule.
D)the Illinois Franchise Disclosure Act.
Q2) If a party to a franchise contract fails to perform,he or she may be subject to a suit for breach of contract.
A)True
B)False
Q3) CheezBurger Heaven,Inc.,conducts a chain-style franchise.This involves the transfer to Clive,one of its franchisees,of A)a license.
B)a trade name.
C)the formula to make a product.
D)the ownership of the business.
To view all questions and flashcards with answers, click on the resource link above. Page 33
Chapter 32: All Forms of Partnerships
Available Study Resources on Quizplus for this Chatper
67 Verified Questions
67 Flashcards
Source URL: https://quizplus.com/quiz/72778
Sample Questions
Q1) Clu,Dolf,and Elton do business as Fertile Valley Farm.Clu's relationship to the firm ends,but it continues to do business.This is A)dissociation.
B)dissolution.
C)winding up.
D)wrongful.
Q2) Jim and Kyle are partners in J&K Sales,which exports technical equipment under a three-year partnership agreement.The U.S.government declares that the equipment can no longer be exported.J&K
A)dissolves as soon as the stated term expires.
B)dissolves as soon as the partners agree to dissolve it.
C)dissolves immediately unless the partners change its business.
D)does not dissolve.
Q3) Only a limited partnership's limited partners have a fiduciary obligation to the other partners.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
34
Chapter 33: Limited Liability Companies Special Business
Forms
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72779
Sample Questions
Q1) Big Valu Grocery Stores is an unincorporated cooperative.Big Valu and other unincorporated cooperatives are generally treated like A)business trusts.
B)corporations.
C)joint stock companies.
D)partnerships.
Q2) Forming a limited liability company requires filing articles of organization in a state office.
A)True
B)False
Q3) For federal jurisdictional purposes,a limited liability company can choose to be treated like a corporation.
A)True
B)False
Q4) In a limited liability company,members cannot participate in its management.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 35
Chapter 34: Corporate Formation and Financing
Available Study Resources on Quizplus for this Chatper
68 Verified Questions
68 Flashcards
Source URL: https://quizplus.com/quiz/72780
Sample Questions
Q1) A corporation cannot be formed without a profit-making purpose.
A)True
B)False
Q2) Raw Resources Corporation authorizes Stefan,its employee,to oversee its mining operation.In the course of this employment,Stefan commits a tort.Liability for this tort most likely rests with
A)neither Raw Resources nor Stefan.
B)Raw Resources and Stefan.
C)Raw Resources but not Stefan.
D)Stefan but not Raw Resources.
Q3) A foreign corporation is a corporation formed in another country.
A)True
B)False
Q4) Stan incorporates his scientific products business as Tech Supply,Inc.Unless the articles of incorporation state otherwise,Tech Supply most likely has
A)a finite,yet-to-be-determined existence.
B)a one-year,nonrenewable existence.
C)a one-year,renewable existence.
D)perpetual existence.
To view all questions and flashcards with answers, click on the resource link above. Page 36
Chapter 35: Corporate Directors,officers, Shareholders
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72781
Sample Questions
Q1) Egan is a director of First Realty Corporation.As a director,Egan can act as an agent to bind First Realty
A)in all circumstances.
B)in no circumstances.
C)to any contract in which Egan does not have a conflict of interest.
D)to any contract that represents a corporate opportunity for First Realty.
Q2) Denise,Ervin,and Flem occupy the positions of directors on the board of Gallery Corporation.As directors,they may not
A)authorize major corporate policy decisions.
B)decide to issue stock and bonds,and declare dividends.
C)select and remove corporate officers.
D)support businesses that directly compete with Gallery.
Q3) Cara and Dru are officers of EZ Trucking Corporation.As corporate officers,the rights of Cara and Dru are
A)determined by their employment contracts.
B)specified in state corporation statutes.
C)the same as those of the directors.
D)the same as those of the shareholders.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 36: Corporate Acquisitions, takeovers, Termination
Available Study Resources on Quizplus for this Chatper
64 Verified Questions
64 Flashcards
Source URL: https://quizplus.com/quiz/72782
Sample Questions
Q1) Salt Corporation wants to acquire or merge with Pepper Corporation.The board and the shareholders of Pepper are resisting.Salt should
A)file a plan of merger with the secretary of state.
B)file an article of merger with Pepper.
C)make a tender offer to the shareholders of Pepper.
D)make a tender offer to the shareholders of Salt.
Q2) A corporate takeover is the process of acquiring control over a corporation by the purchase of a substantial number of the voting shares of its stock.
A)True
B)False
Q3) Ridgeway Sand & Gravel Corporation and Quick-Set Paving Company combine so that all that remains after the papers have been signed is Ridgeway.This is A)a consolidation.
B)a merger.
C)a purchase of assets.
D)a share exchange.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 37: Investor Protection,insider Trading, Corp Gov
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72783
Sample Questions
Q1) Any corporation with more than $10 million in assets and five hundred or more shareholders must register their securities with the Securities and Exchange Commission.
A)True
B)False
Q2) Against a charge of a violation of the Securities Act of 1933,only an issuer of stock can assert the due diligence defense.
A)True
B)False
Q3) Refer to Fact Pattern 37-2.Under SEC Rule l0b-5,Sid would not be liable if he had waited to buy Tech stock until
A)after Sid told Uri of the new game.
B)after Uri bought Tech stock.
C)after the public release of the game.
D)just before the game was released.
Q4) Sales of securities must occur within twenty days of registration.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 39
Chapter 38: Administrative Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72784
Sample Questions
Q1) Executive control over the Federal Communications Commission,and other agencies,may be exercised through a presidential veto of
A)Congress's modifications of the agency's authority.
B)the agency's final rules.
C)the agency's final orders.
D)none of the choices.
Q2) Rulemaking-the formulation of new administrative regulations-is a major function of Congress,not administrative agencies.
A)True
B)False
Q3) The public must be provided with adequate advance notice of scheduled federal administrative agency meetings and agendas.
A)True
B)False
Q4) Administrative agencies cannot make legislative rules,or substantive rules,that are as legally binding as laws that the Congress passes.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 40
Chapter 39: Promoting Competition
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72785
Sample Questions
Q1) The basic purpose of antitrust law is to regulate economic competition.
A)True
B)False
Q2) To drive its competitors out of a certain geographic segment of its market,Fryin' Potatoes,Inc.,sets the prices of its products below cost for the buyers in that area.This is A)a refusal to deal.
B)business acumen.
C)predatory bidding.
D)price discrimination.
Q3) Bubbly Bottling Company is engaged in the soft-drink bottling and distribution industry in the states of New York and New Jersey.The firm currently has about 40 percent of the market for these products and related services.Carbonate Distribution Corporation competes with Bubbly in the same states.Carbonate has about 35 percent of the market.If Bubbly were to acquire the stock and assets of Carbonate,would Bubbly be in violation of any of the antitrust laws If so,which one Discuss fully.
Q4) Only private individuals can enforce the antitrust laws.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 41
Chapter 40: Consumer Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72786
Sample Questions
Q1) Ron signs a contract with Sam,a door-to-door salesperson for Tutors,Inc.,to buy a foreign-language course.To cancel the contract,Ron has up to
A)three days.
B)thirty days.
C)sixty days.
D)ninety days.
Q2) All statutes that serve to protect the interests of consumers are classified as consumer law.
A)True
B)False
Q3) Fun-E Products,Inc.,makes and sells toys.The government agency that has the authority to remove a potentially hazardous toy from the market is
A)the Consumer Product Safety Commission.
B)the Federal Reserve Board of Governors.
C)the Federal Trade Commission.
D)the Food and Drug Administration.
Q4) Merchants must ship orders within the time promised in their ads.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 42
Chapter 41: Environmental Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72787
Sample Questions
Q1) Performance standards for major sources of air pollution require the use of the any available technology,or AAT.
A)True
B)False
Q2) The government can recover the cost to clean up a hazardous waste disposal site from the persons who were even remotely responsible.
A)True
B)False
Q3) The Environmental Protection Agency is the primary federal agency regulating environmental law.
A)True
B)False
Q4) The Environmental Protection Agency can regulate a substance that poses an imminent hazard but cannot prohibit the use of a substance altogether.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Page 43
Chapter 42: Liability of Accountants Other Professionals
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72788
Sample Questions
Q1) Quibble Game Company's liabilities exceed its assets.Quibble hires Roo & Slay,an accounting firm,to prepare a balance sheet.Through Roo & Slay's negligent omissions,the sheet shows a positive net worth.Town Bank relies on the balance sheet to make a loan to Quibble.When Quibble defaults,Town files a suit against Roo & Slay.Under the Restatement rule,Roo & Slay is most likely
A)liable because Roo & Slay owed a duty of care to Quibble.
B)liable because Roo & Slay owed a duty to any foreseeable user.
C)liable if Roo & Slay knew that Town would rely on the balance sheet.
D)not liable because Roo & Slay and Town were not in privity.
Q2) A professional cannot be liable for fraud in the absence of fraudulent intent.
A)True
B)False
Q3) Lacy is an accountant who prepares her clients' tax returns.Muff is not an accountant,but he also prepares tax returns for clients.Under the Internal Revenue Code,liability for preparing a false return may be imposed on
A)Lacy and Muff.
B)Lacy only.
C)Muff only.
D)neither Lacy nor Muff.
To view all questions and flashcards with answers, click on the resource link above.
Page 44
Chapter 43: Personal Property and Bailments
Available Study Resources on Quizplus for this Chatper
70 Verified Questions
70 Flashcards
Source URL: https://quizplus.com/quiz/72789
Sample Questions
Q1) Sid borrows Tony's paint sprayer to paint his house.Uma allows Vic to store his posthole digger in her shed.The party with a right to use the bailed property is A)neither Sid nor Uma.
B)Sid and Uma.
C)Sid only.
D)Uma only.
Q2) If property is owned as community property,each spouse owns an undivided one-half interest in it.
A)True
B)False
Q3) Klondike and Leola own 10,000 shares of stock in My-T Gro Corporation.On the death of ether owner,that owner's interest in the stock passes to the surviving owner.This is A)a joint tenancy.
B)a tenancy by the entirety.
C)a tenancy in common.
D)ownership in fee simple absolute.
To view all questions and flashcards with answers, click on the resource link above.
Chapter 44: Real Property and Landlord-Tenant Law
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72790
Sample Questions
Q1) Opal conveys three acres of wetlands to Pristine Places,Inc.,with a deed that warrants only that Opal held good title during her ownership of the property.This deed is
A)a grant deed.
B)a quitclaim deed.
C)a special warranty deed.
D)a warranty deed.
Q2) Consumer Shops,Inc.,signs a lease for a storefront owned by Downtown Building Company.Unlike a purchaser of real property,Consumer Shops
A)acquires only temporary possession of the premises.
B)enjoys exclusive possession of the premises.
C)holds only temporary title to the premises.
D)retains temporary,exclusive possession and title to the premises.
Q3) With respect to Egor's land,Fig has an easement,Gabe has a profit,and Huck has a license.A right to possess the land is owned by A)Egor,Fig,and Gabe only.
B)Egor and Gabe only.
C)Egor only.
D)Fig,Gabe,and Huck only.
To view all questions and flashcards with answers, click on the resource link above. Page 46
Chapter 45: Insurance,wills,and Trusts
Available Study Resources on Quizplus for this Chatper
72 Verified Questions
72 Flashcards
Source URL: https://quizplus.com/quiz/72791
Sample Questions
Q1) Juli types onto a computer what she intends to be "My Will" and prints it out.Juli has capacity."My Will" is
A)invalid.
B)valid if Juli signs it.
C)valid if Juli signs it and has three witnesses sign it.
D)valid if Juli signs it,has three witnesses sign it,and files it in a cer?tain state office.
Q2) Kendall executes a separate written instrument to amend her prior will.This separate document is
A)a codicil.
B)a constructive will.
C)an inter vivos will.
D)a nuncupative will.
Q3) In most states,a person must be sixteen years of age to execute a valid will.
A)True
B)False
Q4) An insurance application is usually not part of the insurance contract.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.