Legal Environment of Business
Exam Materials
Course Introduction
This course provides an overview of the legal principles and regulatory framework affecting businesses in the United States. It examines foundational topics such as the sources and structure of law, the court system, contracts, torts, agency relationships, and property law. The course also explores issues related to business organization, employment law, intellectual property, and government regulation, with an emphasis on the ethical and legal responsibilities of business professionals. Students will develop the ability to identify legal risks and opportunities in business decisions and understand how law influences managerial decision-making in a dynamic business environment.
Recommended Textbook
The Legal Environment of Business Text and Cases 8th Edition by Frank B. Cross
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35 Chapters
1251 Verified Questions
1251 Flashcards
Source URL: https://quizplus.com/study-set/3957 Page 2
Chapter 1: Business and Its Legal Environment
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79268
Sample Questions
Q1) No state has adopted the Uniform Commercial Code in its entirety.
A)True
B)False
Answer: False
Q2) A state constitution is supreme within the state's borders.
A)True
B)False
Answer: True
Q3) The Federal Trade Commission is a government agency that issues rules,orders,and decisions.The Georgia state legislature enacts statutes.The Jackson County Board and the Peach City Council enacts ordinances.Administrative law includes
A)all law that affects a business's operation.
B)the rules,orders,and decisions of the Federal Trade Commission.
C)statutes enacted by the Georgia state legislature.
D)ordinances created by the Jackson County Board and the city council of Peach City,Georgia.
Answer: B
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Chapter 2: The Court System
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79267
Sample Questions
Q1) Concurrent jurisdiction exists when neither federal nor state courts have the power to hear a particular case.
A)True
B)False
Answer: True
Q2) Elle is walking to work along a sidewalk next to a road.A truck owned by Fast Distribution Company (FDC)strikes and injures Elle,causing her injuries that result in more than $250,000 in medical expenses.Elle is a resident of Georgia,where the accident occurred.FDC has its principal place of business,and is incorporated,in Delaware.In what court may Elle sue FDC
Answer: Elle may sue FDC in Delaware,because FDC has its principal place of business,and is incorporated,in that state.FDC may be sued in Georgia,because that is where Elle's injury occurred.FDC may be subject to Elle's suit in a federal court,because the parties have diversity of citizenship (Elle is a resident of Georgia and FDC has its principal place of business,and is incorporated,in Delaware)and the amount in controversy is more than $75,000 (the cost of Elle's injuries is more than $250,000).
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Chapter 3: Alternative and Online Dispute Resolution
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Alternative dispute resolution refers to any method for resolving a dispute outside the court system.
A)True
B)False
Answer: True
Q2) Pixie files a suit against Quiver.Before going to trial,the parties meet,with their attorneys to represent them,to present their dispute to a third party who is not a judge but who imposes a resolution on the parties.This is A)arbitration.
B)mediation.
C)negotiation.
D)not a legitimate form of dispute resolution.
Answer: A
Q3) A forum-selection clause in a contract designates which nation's law will be applied to any dispute.
A)True
B)False
Answer: False
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5
Chapter 4: Ethics and Business Decision Making
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79265
Sample Questions
Q1) Setting realistic workplace goals can reduce the probability that employees will act unethically.
A)True
B)False
Q2) Ergonomic Corporation convenes its employees for its managers to announce (1)a new company-wide ethical code of conduct, (2)an ad campaign to publicize the new code,and (3)the discharge of employees who do not adhere to the code.One of the most effective ways to set a tone of ethical behavior within a business organization is
A)to create an ethical code of conduct.
B)to discharge employees who do not create the appearance of impropriety.
C)to post a marketing campaign online touting the firm's ethical tone.
D)for management to direct employees to "do as we say,not as we do."
Q3) An action may be legal and ethical.
A)True
B)False
Q4) Ethical codes of conduct can set the ethical tone of a firm.
A)True
B)False
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Page 6
Chapter 5: Constitutional Law
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79264
Sample Questions
Q1) A law that regulates economic matters violates the equal protection clause.
A)True
B)False
Q2) Myra claims that a Nebraska state statute infringes on her "procedural due process" rights.This claim focuses on
A)procedures used in making decisions to take life,liberty,or property.
B)the content of the statute.
C)the similarity of the treatment of similarly situated individuals.
D)the steps to be taken to protect Mary's privacy.
Q3) Old Oak Brewery,Inc. ,makes and sells alcoholic beverages with labels that display a drawing of a squirrel making the gesture generally known as "giving the finger." Old Oak applies to the Ohio State Liquor Authority (OSLA)for brand-label approval to sell the beer in Ohio.Without considering alternatives,OSLA denies approval because "the label could appear in grocery stores,with obvious exposure on the shelf to children of tender age." Why would a court hold that the denial of Old Oak's application violates the First Amendment
Q4) Some constitutional protections apply to business entities.
A)True
B)False
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Chapter 6: Administrative Law
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79263
Sample Questions
Q1) Informal agency actions are exempt from the Administrative Procedure Act's requirements.
A)True
B)False
Q2) If the meaning of a statute's language is unclear and an agency interprets it,a court must overturn the interpretation.
A)True
B)False
Q3) Boxy's Packaging Materials Company is subject to regulations issued by the Occupational Safety and Health Administration (OSHA).Like other federal administrative agencies,the OSHA was created by
A)Congress,through enabling legislation.
B)the Federal Trade Commission,through the rulemaking process.
C)the president,through an executive order.
D)the U.S.Department of Labor,through a final order.
Q4) Many agency rules require compliance reporting from regulated entities,and such a report can not trigger an enforcement investigation.
A)True
B)False
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Chapter 7: Criminal Law and Cyber Crime
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79262
Sample Questions
Q1) Sven receives an MP3 player stolen from Tomas.To be criminally liable,Sven must know
A)the player is stolen.
B)Tomas is the true owner.
C)how to operate an MP3 player.
D)what an MP3 player is.
Q2) Via the Internet,Rocky sabotages the computer system of Quik Chik'n Company,a food manufacturer,with the purpose of altering the levels of ingredients of the company's products so that consumers of the food become ill.Rocky is
A)a cyberterrorist.
B)a botnet.
C)a virus.
D)a worm.
Q3) A cyberterrorist might target a government agency,but not a business.
A)True
B)False
Q4) Most cyber crimes are "new" crimes.
A)True
B)False
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Chapter 8: International Law in a Global Economy
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79261
Sample Questions
Q1) The chief aim of the European Union and other trade organizations is to minimize trade barriers among their members.
A)True
B)False
Q2) In the global environment of business,the law of a particular nation,such as Brazil,China,or India,is classified as
A)environmental law.
B)global law.
C)international law.
D)national law.
Q3) Agro Co-op,Inc. ,and Bio Feed Corporation are exporting firms that join together to export a line of products.Agro Co-op and Bio Feed apply to Charter Bank for a loan to fund their effort.Under federal law,Charter and other U.S.banks are
A)encouraged by credit guaranties to lend such funds.
B)discouraged by administrative rules to make such loans.
C)asked by enforcement agencies to report such requests.
D)banned by statute from opening such credit lines.
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Chapter 9: Contract Formation
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79260
Sample Questions
Q1) The rules of contract law are often followed to avoid potential disputes.
A)True
B)False
Q2) Jenna,a minor acting on her own,signs a contract to buy a horse and its tack from Field Equine Ranch.Later,after taking possession of the horse and tack,Jenna disaffirms the deal.She
A)can keep the horse and the tack.
B)can keep the horse but not the tack.
C)can keep the tack but not the horse.
D)must return both the horse and the tack.
Q3) Danton,a popular performer,dies.His spouse Caitlin sells their house to Buck.Unknown to Caitlin or Buck,in one of the closets is the master recording of an unreleased album.With respect to this recording,Buck can
A)keep it because Caitlin should have known about it.
B)keep it because the sale of a house includes everything in it.
C)not keep it because there was no voluntary consent to its sale.
D)not keep it because the sale of a house includes nothing in it.
Q4) A contract involving property of any kind must be in writing to be enforceable.
A)True
B)False
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Chapter 10: Contract Performance,breach,and Remedies
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Lake Port Services enters into a contract to load Max's Great Lakes barges with the cargo that Max designates.Lake Port's offer to perform,when Lake Port is ready,willing,able to do so,is
A)complete.
B)substantial.
C)tender.
D)tough.
Q2) SFX Paintball Games,Inc. ,and Truck & Trailer Delivery Corporation sign an agreement that provides for the payment of "$1,000 by whichever party commits a material breach of the contract that creates damages difficult to estimate but approximately $1,000." This is
A)a liquidated damages clause.
B)a mitigation of damages clause.
C)a nominal damages clause.
D)a penalty clause.
Q3) The duty owed under the mitigation of damages doctrine depends on the nature of the contract.
A)True
B)False
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Page 12
Chapter 11: Sales,leases,and E-Contracts
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79258
Sample Questions
Q1) Rachel enters into a contract with State University over the Internet to take an online course titled "Online Law." This is an e-contract because
A)the contract involves an online course.
B)the contract was formed online.
C)the contract will be performed online.
D)the subject matter of the contract is "Online Law."
Q2) Mitchell buys 100 bales of hay from New Grain Fields.The parties agree that the hay will be transported "F.O.B.New Grain Fields" via Farm County Trucking Company.Farm County's truck and the hay are lost in a fire following an accident.The loss is suffered by A)Mitchell.
B)New Grain Fields.
C)Farm County Trucking.
D)all of the parties in equal measure.
Q3) A forum-selection clause indicates the forum in which contract disputes will be resolved.
A)True
B)False
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Chapter 12: Torts and Cyber Torts
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) At Parkside Bistro,Ogden believes that he was overcharged and shoves Nellie,the waiter.Nellie sues Ogden,alleging that the shove was a battery.Ogden is liable
A)if Parkside did not overcharge Ogden.
B)if the shove was offensive.
C)if Ogden acted out of malice.
D)under no circumstances-the shove was not a battery.
Q2) From a computer in a distant location,Sergio searches Tia's personal computer without her permission.Sergio is most likely liable for A)appropriation.
B)conversion.
C)invasion of privacy.
D)no tort.
Q3) An act that causes indignity is sufficient to recover for the infliction of emotional distress.
A)True
B)False
Q4) Self-defense is a defense to a charge of assault.
A)True
B)False
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Chapter 13: Strict Liability and Product Liability
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79256
Sample Questions
Q1) Many jurisdictions will consider the negligent actions of both the plaintiff and the defendant when apportioning liability in a product liability action.
A)True
B)False
Q2) Sellers or lessors are liable only for products that are reasonably dangerous.
A)True
B)False
Q3) Fun Toyz Corporation makes skateboards,which it sells to consumers,including Gitana.Gitana is injured due to a defect in the board that causes an accident in which Haley,a bystander,is also injured.In a product liability suit based on strict product liability,Fun Toyz may be liable to A)Gitana and Haley.
B)Gitana only.
C)Haley only.
D)no one.
Q4) A product liability action may be based on warranty theories.
A)True
B)False
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15
Chapter 14: Intellectual Property and Internet Law
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79255
Sample Questions
Q1) USA Transport Company uses a mark associated with its name to distinguish its services from those of other transport firms.The mark is
A)a certification mark.
B)a collective mark.
C)a service mark.
D)trade dress.
Q2) Patent protection begins on the date that a patent is issued.
A)True
B)False
Q3) A marketing technique can be a trade secret.
A)True
B)False
Q4) State and federal governments provide for the registration of trademarks.
A)True
B)False
Q5) International copyright protection is automatic-even in nations that have not signed international agreements relating to intellectual property rights.
A)True
B)False
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Chapter 15: Creditor-Debtor Relations and Bankruptcy
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Verna files a petition in bankruptcy in a liquidation proceeding.If the court administers the means test and concludes that Verna is abusing the bankruptcy process by filing for a liquidation,the court will most likely
A)force Verna to file for relief through an individual repayment plan.
B)discharge Verna's debts.
C)distribute Verna's property to Verna's creditors.
D)issue an automatic stay against any actions by Verna's creditors.
Q2) Smartt Software Company borrows $10,000 from Term 'N All Loans,Inc. ,but cannot repay the loan when it comes due.Term 'N All refuses to extend the time for repayment unless Smartt can provide an acceptable surety.Uno Venture Corporation agrees to act as a surety for the loan after Smartt offers the firm a discount on software and shows Uno financial statements,compiled with Term 'N All's assistance,that misrepresent Smartt's financial situation.Later,after Uno uses the discount to buy software,Smartt again defaults on repayment of the loan,and Term 'N All files a suit against Uno to collect the amount of the debt.Is Uno liable Why or why not
Q3) Payment of the principal obligation will not discharge the surety from the obligation. A)True B)False
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Chapter 16: Mortgages Foreclosures After the Recession
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42 Verified Questions
42 Flashcards
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Sample Questions
Q1) Seymour borrows $350,000 from Reliable Bank to buy a home.Seymour stops making payments on the loan ten months later.After the bank repossesses the property securing the loan but before it is sold,Seymour wants to buy it.This is
A)a deficiency judgment.
B)a reverse mortgage.
C)a violation of the law.
D)the right of redemption.
Q2) Brendan borrows $150,000 from Countywide Credit Union to buy a home.The loan is a fixed-rate mortgage at 5.5 percent with a thirty-year term secured by Brendan's home,which is his principal residence.When Brendan has paid off $10,000 of the mortgage-still owing $140,000-he loses his job and defaults on the loan.The market for homes has declined since Brendan took out the loan,and the value of the home at the time of default is $100,000.Despite the default,Brendan assures Countywide that he has accepted a new position,which will begin in six months.What are Brendan's options to recover the amount still owed on the mortgage Which option would most benefit these parties Why
Q3) There are additional disclosure requirements for a higher-priced mortgage loan. A)True B)False
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Page 18
Chapter 17: Sole Proprietorships, franchises, Partnerships
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42 Verified Questions
42 Flashcards
Source URL: https://quizplus.com/quiz/79252
Sample Questions
Q1) In a general partnership,the partners are personally liable for the debts of the partnership.
A)True
B)False
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) In-Home Maid Service Company uses a Web site to provide downloadable information to prospective franchises.This online information is the equivalent of an offer that must comply with
A)the Automobile Dealers' Franchise Act of 1965.
B)the Petroleum Marketing Practices Act of 1979.
C)the Federal Trade Commission's Franchise Rule.
D)the state Franchise Disclosure Document,or FDD.
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Chapter 18: Limited Liability Companies and Limited Partnerships
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42 Flashcards
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Sample Questions
Q1) Cecilia's Day Spa,LLC,is a member-managed limited liability company.If the law in Cecilia's state is like the law in most states,unless the members have agreed otherwise,voting rights are apportioned according to
A)capital contributions.
B)participation in management.
C)the number of members.
D)transactions with the firm.
Q2) Venture Capital,LP,is a limited partnership.Its limited partners include more than 150 sophisticated investors and investment professionals.A Venture limited partner loses his or her limited liability if he or she
A)acts as the firm's manager.
B)does not participate in the firm's management.
C)invests in Unified Fund,one of Venture's competitors.
D)votes on the firm's sale or dissolution.
Q3) An assignment of the interest of a limited partner dissolves a limited partnership.
A)True
B)False
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Page 20
Chapter 19: Corporations
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42 Flashcards
Source URL: https://quizplus.com/quiz/79250
Sample Questions
Q1) The articles of incorporation serve as a primary source of authority for a corporation.
A)True
B)False
Q2) Ivy and Justin want to form and do business as Kayak Adventures Corporation.A corporation can be owned by
A)natural persons only.
B)artificial persons only.
C)artificial or natural persons.
D)neither "artificial" nor "natural" persons.
Q3) Wild & Scenic River Tours,Inc. ,is a corporation.Wild & Scenic has the implied power to A)issue stocks and bonds.
B)execute contracts and negotiable instruments.
C)buy and sell (or lease)property.
D)perform all acts reasonably appropriate and necessary to accomplish its corporate purposes.
Q4) A corporation is a legal entity created and recognized by federal law.
A)True
B)False
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Chapter 20: Agency
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Sample Questions
Q1) Remedies of the agent for breach of duty by the principal follow normal contract and tort remedies.
A)True
B)False
Q2) Glen is an agent for Hi-Flite,Inc.On Hi-Flite's behalf and at its request,Glen pays Ian for certain plane maintenance and repair services.Glen's right to obtain the amount of those payments from Hi-Flite arises under the principal's duty of A)avoidance.
B)cooperation.
C)indemnification.
D)reimbursement.
Q3) Ratification occurs when a principal accepts responsibility for an agent's unauthorized act.
A)True
B)False
Q4) A principal may be liable for the tort of an agent committed within the scope of the agency or employment.
A)True
B)False
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Chapter 21: Employment Relationships
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Sample Questions
Q1) Whistleblowing occurs when an employer signals the end of a work day by sounding a buzzer,ringing a bell,or otherwise "blowing the whistle "
A)True
B)False
Q2) Tedium Accounting Corporation,a private employer,handles bookkeeping for small employers.In most circumstances,with exceptions,federal law clearly prohibits Tedium from subjecting its employees to
A)drug tests.
B)electronic monitoring of business communications.
C)genetic tests.
D)lie-detector tests.
Q3) Employer who willfully violates safety regulations can be prosecuted under state criminal laws.
A)True
B)False
Q4) Children under fourteen years of age are not allowed to work.
A)True
B)False
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Chapter 22: Employment Discrimination
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Sample Questions
Q1) Olivia applies for a job with Petro Company.Petro does not hire Olivia because of her ethnicity,or national origin.This is
A)reverse discrimination.
B)disparate-impact discrimination.
C)disparate-treatment discrimination.
D)not discrimination.
Q2) An employee's resignation must be the foreseeable result of an employer's discriminatory action to support a showing of constructive discharge.
A)True
B)False
Q3) The Civil Rights Act of 1964 does not prohibit job discrimination in the hiring process.
A)True
B)False
Q4) Federal law does not prohibit discrimination on the basis of gender in assessing an employee's education,training,or experience.
A)True
B)False
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Chapter 23: Immigratiion and Labor Law
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Sample Questions
Q1) Some of the employees of Relay Computers,Inc. ,decide that they want to be represented by the Science Workers Union in bargaining with Relay over overtime pay and the times that the plant opens and closes.Relay,and some employees,including Tracy,are against the union.Who can demand that a union election be held If the union loses the election,can it picket Relay If the union is elected,does it have to represent Tracy If the union is elected,does Relay have to bargain over overtime pay and the times that the plant opens and closes If the union is elected,how soon can a decertification election be held
Q2) During a union election campaign,Autowerks Repair,Inc. ,prohibits on-site,work-hour solicitations by any party,including Mechanics Union,which is seeking the workers' unionization.This violates
A)federal labor law.
B)federal election law.
C)federal solicitation law.
D)no federal law.
Q3) A union obtains authorization cards from a majority of workers to justify an election among the workers for unionization.
A)True
B)False
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Page 25
Chapter 24: Consumer Protection
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Sample Questions
Q1) Kristen receives unsolicited merchandise in the mail.Kristen
A)may keep the merchandise without any obligation to the sender.
B)must return the merchandise within five days to avoid payment.
C)must return the merchandise within fifteen days to avoid payment.
D)must return the merchandise within thirty days to avoid payment.
Q2) Darren wants to go into the business of direct merchandise sales.What are the legal problems that Darren might encounter in telemarketing In selling door-to-door In marketing over the Internet In soliciting sales through the mail
Q3) Special Roast Coffee,Inc. ,processes and sells a variety of coffee products.Special Roast's product packages must include
A)the company owner's identity.
B)the contents' net quantity.
C)the restaurants and stores in which the product is sold.
D)the type of consumer most likely interested in the product.
Q4) Labels on fresh meat must indicate where the food originated.
A)True
B)False
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Chapter 25: Environmental Law
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Sample Questions
Q1) Federal statutes and regulations do not cover mobile sources of air pollution.
A)True
B)False
Q2) Under the Marine Protection,Research,and Sanctuaries Act (the Ocean Dumping Act),Bayside Chemical Company may dump its chemical waste into the ocean
A)after obtaining a permit.
B)before obtaining a permit.
C)without a permit.
D)not at all.
Q3) The Environmental Protection Agency sets minimum levels for pollutants in public water systems.
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
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Chapter 26: Real Property Land-Use Control
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Sample Questions
Q1) LaDonna signs a one-year lease with Mae to occupy an apartment in Ames,Iowa,near the University of Iowa.LaDonna needs the apartment only for two semesters and may have to sublet it for the rest of the term.LaDonna's tenancy is
A)a periodic tenancy.
B)a tenancy at will.
C)a tenancy by the entirety.
D)a fixed-term tenancy.
Q2) Luke owns a farm near Marshalltown,Iowa,with stands of trees serving as windbreaks.Luke grows corn on the property.When Luke sells the farm to Nina,if the contract does not specify otherwise,the sale includes
A)neither the crops nor the trees.
B)the crops and the trees.
C)the crops only.
D)the trees only.
Q3) Zoning restrictions are absolute.
A)True
B)False
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Chapter 27: Antitrust and Monopoly
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Sample Questions
Q1) Helio Company can process hydrogen into an inexpensive fuel for internal combustion engines.As an innovator in its market,Helio currently has the power to affect the price of its product.This is A)market power.
B)predatory pricing.
C)price discrimination.
D)price-fixing.
Q2) A firm can have monopoly power without violating antitrust law. A)True
B)False
Q3) Rapido Pizza,Inc. ,is a close corporation with only two shareholders,Sunny and Tomas.Rapido is in the pizza-delivery business.Two other such firms serve the same market,but Rapido controls a 75 percent share.Sunny and Tomas agree that Tomas will buy all of Sunny's Rapido shares.As a condition of the transaction,Sunny agrees not to open a competing pizza-delivery business within a seventy-mile radius or become employed by any rival firm within the same designated area.The covenant is to last five years.Is this an unreasonable restraint of trade Would a court likely declare unenforceable Sunny's promise not to compete
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Chapter 28: Antitrust and Restraints of Trade
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Q1) Delta Services,Inc. ,is the major wholesale distributor of software in the state of Florida.Its closest competitor is Efficient Systems Company,another Florida firm.The two firms agree that Delta will operate in south Florida and Efficient will operate in north Florida.This is
A)a group boycott.
B)a market division.
C)a price-fixing agreement.
D)a tying arrangement.
Q2) Agreements among members of trade or professional organizations are exempt from antitrust laws.
A)True
B)False
Q3) A unilateral refusal to deal with a particular person or firm never violates antitrust law.
A)True
B)False
Q4) Maximum resale price maintenance agreements are per se violations of antitrust law.
A)True
B)False
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Chapter 29: Investor Protection and Corporate Governance
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Q1) "Forward-looking" financial forecasts are protected against liability for securities fraud.
A)True
B)False
Q2) Before filing the registration statement,an issuer cannot sell or offer to sell the securities.
A)True B)False
Q3) Refer to Fact Pattern 29-2A.If Dhani is liable under the Securities Exchange Act of 1934,it will be because the information on which he based his purchase of Eureka stock was
A)a forward-looking forecast.
B)not material.
C)not yet public.
D)not yet true.
Q4) The Securities and Exchange Commission can bring a civil action against anyone who aids in a violation of the Securities Exchange Act of 1934.
A)True B)False
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Chapter 30: Part I: The Foundations
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Q1) In a brief filed in Lea's suit against Mica in a state court,Neil,Lea's attorney,cites,Ole!
Cafe v.Pan Foods Corp. ,an unpublished opinion.With respect to the persuasiveness of unpublished opinions,most states
A)allow their courts to consider such opinions.
B)do not allow their courts to consider such opinions.
C)impose certain hierarchical rankings.
D)require their courts to consider such opinions.
Q2) In the pursuit of profits,Global Enterprises Corporation engages in what some observers consider to be bad corporate behavior.The worldwide explosion of information technology has led to a transparent global economy that makes socially responsible behavior
A)more important.
B)less important.
C)neither more nor less important.
D)both more and less important.
Q3) Ethical behavior on the part of Plastics Products Company may be inhibited by
A)clear ethical standards.
B)collective decision making.
C)legislative determinations of what represents society's best interest.
D)managers' dissent to unethical decisions.
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Chapter 31: Part II: The Public and International Environment
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Q1) DrugCo,Inc. ,makes and markets Evenflo,a prescription drug.Food and Drug Administration (FDA)rules require ads for prescription drugs to disclose all of the potential negative side effects.Display ads on the Web are not amenable to such lists.Thus to comply with FDA rules,on the Web DrugCo should run
A)a general,disease-related search ad.
B)an ad for Evenflo without a list of side effects.
C)a tweet.
D)no ads.
Q2) Catalyst Corporation is a small,U.S.-based business that makes sophisticated polymers for export.Under the National Export Initiative,the federal government is A)erecting barriers to deny free access to foreign markets.
B)boosting lending to small businesses,especially for export purposes.
C)placing less emphasis on exports than other governments.
D)playing a less active role in promoting exports in emerging markets.
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Chapter 32: Part III: The Commercial Environment
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Q1) Hamidi,a coffee farmer in Kenya,forms an alliance with Guthrie,an importer and marketer in Ireland.Their products carry a Fair Trade label.This means that Hamidi
A)accepts whatever price for his products that the market will bear.
B)produces crops with genetically modified organisms.
C)puts children to work whenever possible.
D)uses environmentally sustainable farming methods.
Q2) California caps noneconomic damages in medical malpractice cases at $250,000.California and other states hope that such limits will reduce health-care expenditures by reducing
A)the frequency and severity of medical malpractice claims.
B)the frequency and severity of occurrences of medical negligence.
C)the number of legal and financial personnel,including attorneys.
D)the size of medical staffs,including "nonessential" personnel.
Q3) The Anti-Counterfeiting Trade Agreement is most likely to establish an international governing body to be
A)subject to the World Intellectual Property Organization.
B)under the auspices of the World Trade Organization.
C)part of the Internet Corporation for Assigned Names and Numbers.
D)separate and distinct from existing groups.
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Chapter 33: Part IV: The Business Environment
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Q1) Home & Hearth,Inc. ,is a close corporation owned by Iona,Jamon,and Kleo,who are siblings.Each shareholder is also a director and officer.When the family disagrees over how to operate Home & Hearth,Jamon and Kleo vote to oust Iona from her position as Home & Hearth's president.Iona files a suit against the others,alleging a breach of fiduciary duty.The court may order Jamon and Kleo to A)buy Iona's shares.
B)sell Iona's shares publicly.
C)sell Jamon and Kleo's shares publicly.
D)sell Jamon and Kleo's shares to Iona.
Q2) Twisted Dipsy Pretzels Inc.offers entrepreneurs the opportunity to operate a franchise under the Twisted Dipsy trade name as a member of a select group of dealers that engage in the retail pretzel-concession business.To potential investors,Twisted Dipsy makes earnings claims.For those claims,the franchisor must have A)a hypothetical basis.
B)a reasonable basis.
C)an actual basis.
D)no basis.
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Chapter 34: Part V: The Employment Environment
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Q1) AgriEquip Service & Supply,Inc. ,sends Merilyn an e-mail in which AgriEquip offers to employ her for certain hours and a specific amount of money over a limited period of time.She responds with a counteroffer that reduces the hours and increases the money.AgriEquip e-mails an acceptance.Merilyn performs,but AgriEquip refuses to pay.She files a suit against AgriEquip for breach of contract.The court is most likely to rule that the e-mail
A)showed only an agreement to agree.
B)was an agreement to the essential terms of an employment contract.
C)constituted an unenforceable,non-existent contract.
D)contained a contract but is unenforceable because it is electronic.
Q2) Paisley works for Rick's Air Conditioning & Heating Service.Reasons for holding Rick's liable under the doctrine of respondeat superior for Paisley's tort injuring Nikki do not include the employer's
A)ability to afford Nikki more effective relief.
B)ability to pay for Nikki's injury.
C)control over Paisley.
D)guilt or innocence.
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Chapter 35: Part VI: The Regulatory Environment
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Q1) Cool Corporation makes energy-saving air conditioning units.Cool anticipates a change in the demand for its products as a consequence of climate change.One argument in favor of requiring Cool to disclose this information is that it could lead to
A)additional protections under the Sarbanes-Oxley Act of 2002.
B)an increase in the number of shareholder suits against competitors.
C)sound investment decisions by investors.
D)the conversion of Cool from publicly held to privately held.
Q2) The U.S.Green Building Council verifies that a building meets certain standards before issuing a Leadership in Energy and Environmental Design (LEED)certification.Lolly hires Myron,a subcontractor,and insists that his work conform to the requirements of the LEED rating system.If the standards are not conformed to,then
A)certain tax credits may not be available.
B)the U.S.Green Building Council may impose sanctions.
C)Lolly must pay "just compensation" to the local zoning authority.
D)Myron may be denied a zoning variance.
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