Legal Environment of Business
Test Questions
Course Introduction
The Legal Environment of Business explores the complex framework of laws and regulations that impact business operations and decision-making. This course examines key topics such as contract law, agency, employment law, intellectual property, product liability, and the structure of the court system. Students will gain an understanding of how legal principles influence ethical business conduct and learn to identify potential legal risks in organizational settings. Through case studies and practical examples, the course prepares students to navigate the legal challenges businesses face in both domestic and international contexts.
Recommended Textbook
Legal Environment of Business and Online Commerce 7th Edition by Henry R. Cheeseman
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26 Chapters
2561 Verified Questions
2561 Flashcards
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Page 2
Chapter 1: Legal Heritage and the Digital Age
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Sample Questions
Q1) Which of the following would be considered an example of "shaping moral standards," as seen as a function of the law?
A) laws granting freedom of speech and religion
B) laws discouraging drug and alcohol abuse
C) laws providing rights to peaceful protest
D) laws preventing overthrow of the government
Answer: B
Q2) Mark Walton was involved in a car accident in which the airbag of his car failed to deploy. He sued the car manufacturer for installing faulty airbags. But in the course of the case being heard in court, the car company and Mark decided settle the lawsuit out of court. What important function of the law was served in this case?
A) promoting social justice
B) maximizing individual freedom
C) providing a basis for compromise
D) maintaining the status quo
Answer: C
Q3) The adoption of the ________ law led to precedence being an important feature of the American legal system.
Answer: English common
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Page 3
Chapter 2: Ethics and Social Responsibility of Business
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Sample Questions
Q1) Which of the following is an apparent disadvantage of utilitarianism?
A) It does not allow people to have subjective notions of right and wrong.
B) It is based on moral duties derived from universal rules.
C) It puts too much emphasis on one book or theory.
D) It treats morality as if it were an impersonal mathematical calculation.
Answer: D
Q2) Section 406 of the Sarbanes-Oxley Act requires a public company to disclose whether it has adopted a code of ethics for senior financial officers.
A)True
B)False
Answer: True
Q3) The moral theory that dictates people choose the action or follow the rule that provides the greatest good to society is referred to as ________.
Answer: utilitarianism
Q4) The False Claims Act permits private parties to sue the government on behalf of a corporation.
A)True
B)False Answer: False
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Chapter 3: Courts, Jurisdiction, and Administrative Agencies
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Sample Questions
Q1) In the U.S. Circuit Courts of Appeals, an en banc review refers to an appeal heard by a three-judge panel.
A)True
B)False
Answer: False
Q2) ________ are courts that hear matters of a specialized or limited nature.
A) General-jurisdiction trial courts
B) Inferior trial courts
C) Intermediate appellate courts
D) Chancery courts
Answer: B
Q3) ________ refers to a court's jurisdiction over the parties to a lawsuit.
Answer: In personam jurisdiction
Q4) The U.S. Supreme Court is composed of ________ justices.
A) nine
B) six
C) ten
D) three
Answer: D
Page 5
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Chapter 4: Judicial, Alternative, and E-Dispute Resolution
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Sample Questions
Q1) Only the defendant can appeal in a criminal case.
A)True
B)False
Q2) In a civil case John Deer vs. Jane Doe, the judge finds that the jury was swayed by the fact that Jane Doe was a woman when passing the verdict in her favor. Owing to this, the judge reduces the damages awarded to Jane by $20,000. This act is called
A) remittitur
B) judgment notwithstanding the verdict
C) motion for summary judgment
D) motion for judgment on the pleadings
Q3) A defendant can answer a complaint and file a cross-complaint at the same time.
A)True B)False
Q4) Differentiate between trials with and without jury.
Q5) A pretrial motion is made to try and dispose of all or part of a lawsuit prior to trial.
A)True
B)False
Q6) Only the ________ can appeal in a criminal case.
Page 6
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Chapter 5: Constitutional Law for Business and E-Commerce
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Sample Questions
Q1) The United States considers Native American tribes as "domestic dependent" nations with limited sovereignty.
A)True
B)False
Q2) Distinguish between limited protected speech and unprotected speech, as divided by the U.S. Supreme Court.
Q3) The ________ prohibits the government from promoting one religion over another.
A) Due Process Clause
B) Privileges Clause
C) Establishment Clause
D) Free Exercise Clause
Q4) Why is it unconstitutional for a state government to ban products imported from a foreign country, despite that country engaging in activities not condonable by that state?
Q5) ________ is a test that is applied to classifications based on a suspect class or involves fundamental rights.
Q6) The ________ provides that federal law takes precedence over state or local law.
Q8) ________ is responsible for making federal law. Page 7
Q7) How has the U.S. government regulated commerce with Native Americans?
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Page 8
Chapter 6: Torts and Strict Liability
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Sample Questions
Q1) Libel and slander constitute ________.
A) the tort of outrage
B) defamation of character
C) the tort of appropriation
D) intentional misrepresentation
Q2) Which of the following statements is true of battery?
A) Battery refers to intentional infliction of emotional distress.
B) Assault and battery often occur together.
C) Actual physical contact is not necessary for a tort to be termed as battery.
D) Indirect physical contact between the victim and the perpetrator is not battery.
Q3) If a defendant makes an untrue statement of fact about the plaintiff and the statement was intentionally or accidentally published to a third party, the defendant is held liable for misappropriation of the right to publicity.
A)True
B)False
Q4) ________ is liability without fault.
Q5) When and how can a plaintiff claim damages if the defendant has breached a duty of care?
Q6) Explain the doctrine of strict liability with examples.
Page 9
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Chapter 7: Criminal Law and Cyber Crimes
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Sample Questions
Q1) In legal terminology, evil intent is also known as ________.
Q2) A collection of criminal statutes is referred to as a(n)________.
A) bill
B) constitution
C) penal code
D) charter
Q3) Which of the following would violate the Double Jeopardy Clause?
A) The government reopens a case after new incriminating evidence is found against an acquitted person.
B) A person is tried for a case similar to a case from which he was acquitted earlier.
C) A case reaches a hung jury in court and the government reopens the case with a new jury.
D) The criminal act violates more than one jurisdiction and each jurisdiction tries the accused in turn.
Q4) The willful or malicious burning of a building is called ________.
Q5) ________ is the taking of another's personal property other than from his or her person or building.
Q6) Why do governments and defendants enter into plea bargains?
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Chapter 8: Intellectual Property and Cyber Piracy
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Sample Questions
Q1) According to the Economic Espionage Act, ________.
A) persons who have reverse engineered a trade secret can use that trade secret, and the related trademark
B) it is a federal crime to steal another's trade secret
C) the rights to a trade secret will have to be renewed after a specified period of time
D) trade secrets can be shared for a limited amount of time
Q2) A closely guarded formula for a recipe protected by a soft drink manufacturer would be considered as an example of a ________.
A) trade secret
B) copyright
C) patent
D) trademark
Q3) A(n)________ is a distinctive mark, symbol, name, word, motto, or device that identifies the goods of a particular business.
Q4) ________ is a type of trademark dilution where a party uses another party's famous mark to designate a product or service in another market so that the unique significance of the famous mark is weakened.
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Chapter 9: Formation of Traditional and E-Contracts
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Sample Questions
Q1) Alan tells Sherry that he will pay her $5,000 if she runs the Boston Marathon. Once Sherry starts running the marathon, Alan, legally, ________.
A) can revoke the contract as informal verbal agreements are not binding
B) can reduce the money on offer C) can only increase the money on offer D) cannot revoke the contract
Q2) An option contract is terminated upon the death of the offeror.
A)True
B)False
Q3) ________ is something of legal value given in exchange for a promise.
Q4) In auction without reserve, the seller is the offeree.
A)True B)False
Q5) A voidable contract is also termed as an unenforceable contract.
A)True B)False
Q6) The infancy doctrine gives adults the right to disaffirm contracts entered with minors.
A)True
B)False
Page 12
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Chapter 10: Performance and Breach of Traditional and E-Contracts
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Sample Questions
Q1) Distinguish between minor breach and material breach.
Q2) Kinetosphere Automation Inc. (K.A.)makes a mandatory employment contract with all its employees. The contract states that K.A.'s employees are not to work for any other organization while they are employed by K.A. If K.A. finds an employee who is also serving another company, it can approach the court to obtain a(n)________ to prevent the employee from working in the other company.
A) restitution
B) rescission
C) injunction
D) subjugation
Q3) In order to prove fraud, which of these elements must be shown?
A) The innocent party knew the wrongdoer.
B) The innocent party was the one who detected fraud.
C) The wrongdoer assumed a false identity.
D) The innocent party relied on the wrongdoer's representation.
Q4) The agreement whereby the parties agree to accept something different in satisfaction of the original contract is called restitution.
A)True
B)False
Page 13
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Chapter 11: E-Commerce and Digital Law
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Sample Questions
Q1) E-mail contracts need not meet the Statute of Frauds requirements as long as they meet UCITA guidelines.
A)True
B)False
Q2) The ________ is a federal statute that permits trademark owners and famous persons to recover domain names that use their names where the domain name has been registered by another person or business in bad faith.
A) UCITA
B) ACPA
C) ICANN
D) ECPA
Q3) ________ are state laws that require certain types of contracts to be in writing.
Q4) Which of the following domain extensions signifies a resource website?
A) .com
B) .org
C) .edu
D) .info
Q5) Explain in brief the working of an e-license.
Q6) What measures has Congress taken to regulate spam e-mail?
Page 14
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Chapter 12: UCC Sales and Lease Contracts and Warranties
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Sample Questions
Q1) A title for goods obtained by a seller through fraud, impersonation, or a dishonored check is referred to as a ________.
A) unenforceable title
B) voidable title
C) conditional title
D) unequivocal title
Q2) Which of the following is true of additional terms being added under the UCC?
A) They are considered to be counteroffers.
B) It can be added when the sale is between two merchants.
C) It can be added into the contract without the consent of the offeror.
D) It can be added in a sale that involves one or both parties being a nonmerchant.
Q3) A ________ is a seller's or lessor's express or implied assurance to a buyer or lessee that the goods sold or leased meet certain quality standards.
A) bond
B) caveat emptor
C) warranty
D) collateral
Q4) Article 2 of the UCC governs ________.
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Page 15
Chapter 13: Credit, Secured Transactions, and Bankruptcy
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Sample Questions
Q1) A(n)________ refers to a document filed by a secured creditor with the appropriate government office that constructively notifies the world of his or her security interest in personal property.
A) security disclosure
B) financing statement
C) possession statement
D) custodial statement
Q2) ________ is a form of credit that does not require any security to protect the payment of the debt.
Q3) In a guaranty agreement, the guarantor is primarily liable on the debt.
A)True
B)False
Q4) When is a creditor referred to as a secured creditor?
A) when the creditor has been guaranteed payment by a trustee
B) when the creditor gives a loan without security
C) when the creditor has been paid back his debt
D) when the creditor has acquired collateral
Q5) If unsecured creditors do not agree to a plan of reorganization, the court can use its ________ and make the dissenting class accept the plan.
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Chapter 14: Small Business and General and Limited Partnerships
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Sample Questions
Q1) The right to share in the profits of the partnership is the right to share in the earnings from the investment of capital.
A)True
B)False
Q2) The Revised Uniform Partnership Act is a federal statute that holds in all states. A)True
B)False
Q3) Flow-through taxation is the federal income tax imposed on general partnerships. A)True
B)False
Q4) It is not necessary for a limited partnership to have general partners if the limited partners share management responsibility among themselves.
A)True B)False
Q5) A limited partnership cannot have general partners. A)True B)False
Page 17
Q6) The ________ Act is a model act that codifies general partnership law.
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Chapter 15: Limited Liability Companies, Limited Liability
Partnerships, and Special Forms of Business
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Sample Questions
Q1) A franchisee is established when parties of a general partnership conduct business outside the state of their incorporation.
A)True
B)False
Q2) Which of the following is true of LLC taxation?
A) An LLC is taxed as a corporation in all general cases.
B) Income or losses of an LLC do not flow through to the members' individual income tax returns.
C) Members of an LLC are subject to double taxation.
D) An LLC is not taxed at the entity level.
Q3) Ubiquitous Enterprises is a franchisee of HotPan chain of restaurants. One afternoon, Linda, an employee of a HotPan restaurant owned by the franchisee is mopping the floor. Gary, a customer who enters the restaurant is talking on his cell phone and does not notice Linda mopping the floor. He slips on the wet floor while walking to the counter and is injured. Who among the following is liable for Gary's injuries?
A) HotPan, for not providing a "Caution: Wet Floor!" sign
B) Ubiquitous Enterprises, for not having its own "Caution" sign
C) Linda, for not alerting Gary
D) Gary, for not noticing that the floor was wet
Page 18
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Chapter 16: Corporations and the Sarbanes-Oxley Act
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Q1) In a voting trust, the legal titles to the shares given to the trustee are held in the name of the shareholders.
A)True
B)False
Q2) An S corporation must pay federal income tax at the corporate level.
A)True
B)False
Q3) Which of the following is true of treasury shares?
A) They cannot be issued by the corporation.
B) They cannot be voted by the corporation.
C) They are owned by shareholders.
D) They are paid dividends for.
Q4) A corporation that is incorporated in another country is known as a(n)________ corporation.
Q5) A(n)________ is a person or a corporation that is empowered to accept service of process on behalf of a corporation and is identified in the articles of incorporation.
Q6) A director or corporate officer who usurps a corporate opportunity would be violating the director's fiduciary duty, called the ________.
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Chapter 17: Investor Protection, E-Securities, and Wall Street Reform
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Sample Questions
Q1) Which of the following is classified under "common securities?"
A) real estate
B) bullion
C) debenture
D) bank deposit
Q2) An exemption from registration which states that securities transactions not made by an issuer, an underwriter, or a dealer do not have to be registered with the SEC is known as known as a(n)________ exemption.
Q3) The ________ is a federal statute that permits the SEC to obtain a civil penalty of up to three times the illegal benefits received from insider trading.
A) Securities Act
B) Securities Exchange Act
C) Insider Trading Sanctions Act
D) SEC Rule 506
Q4) A(n)________ is a financial instrument whose value is determined by the price movements of another asset.
Q5) The Howey test is used to determine if an arrangement is an investment contract.
A)True
B)False
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Chapter 18: Agency Law
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Sample Questions
Q1) Who is an independent contractor?
Q2) In a partially disclosed agency, the contracting third party transacts directly with the principal and does not know the identity of the agent.
A)True
B)False
Q3) Ratification of a contract is a situation in which a principal accepts an agent's unauthorized contract.
A)True
B)False
Q4) If an agency terminates by operation of law, there is no duty to notify third parties about the termination.
A)True
B)False
Q5) Principals do not control the means by which independent contractors achieve results.
A)True
B)False
Q6) A party who employs another person to act on his or her behalf is known as a(n)________.
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Chapter 19: Equal Opportunity in Employment
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Sample Questions
Q1) If a person believes that he or she has been discriminated against in the workplace, he or she cannot immediately file a lawsuit against the employer.
A)True
B)False
Q2) If the EEOC chooses not to bring suit, it issues a(n)________ to the complainant.
A) affirmative defense
B) right to sue letter
C) filing date
D) document of claim
Q3) Distinguish between disparate-treatment and disparate-impact discrimination.
Q4) A person having origins in any of the original peoples of the Middle East belongs to the Caucasian racial group.
A)True
B)False
Q5) ________ discrimination occurs when an employer discriminates against a specific individual because of his or her race, color, national origin, sex, or religion.
Q6) The ________ protects both sexes from pay discrimination based on sex.
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Page 22
Chapter 20: Employment Law and Worker Protection
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Sample Questions
Q1) Which of the following is true of Social Security?
A) Social Security operates like a savings account.
B) Contribution to the Social Security fund is entirely derived from employers.
C) Employers remit Social Security payments to the IRS.
D) Self-employed individuals are exempted from Social Security payments.
Q2) The FLSA applies to ________.
A) employees in government organizations
B) employees earning less than minimum wages
C) employees engaged in the production of goods for interstate commerce
D) self-employed US citizens
Q3) According to the FLSA, children under the age of 14 are forbidden from working, including as newspaper deliverers.
A)True
B)False
Q4) Overtime pay is paid for each hour worked in excess of ________ hours that week.
A) 35
B) 40
C) 45
D) 50
Q5) What is the Family and Medical Leave Act? How is an employee covered under it?
Page 23
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Chapter 21: Labor Law and Immigration Law
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Q1) The action of strikers walking in front of an employer's premises, carrying signs announcing their strike is known as ________.
A) occupying
B) picketing
C) employee lockout
D) outcry
Q2) Subjects that are not compulsory or illegal are known as ________ subjects of collective bargaining, which maybe be bargained for if the company and union agree to do so.
A) secondary
B) alternative
C) permissive
D) conditional
Q3) List and explain strikes that are held to be illegal be federal labor law.
Q4) Managers and professional employees cannot belong to unions formed by employees whom they manage.
A)True
B)False
Q5) Decertification elections must be supervised by the ________.
Q6) Distinguish between strikes and picketing. When is picketing lawful?
Page 24
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Chapter 22: Antitrust Law and Unfair Trade Practices
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Q1) Noerr doctrine is indirectly protected and guaranteed by the Bill of Rights.
A)True
B)False
Q2) The per se rule is applicable to restraints of trade that are considered inherently anticompetitive.
A)True
B)False
Q3) Which of the following is true with regard to price fixing?
A) Price fixing is a reasonable violation of Section 1 of the Sherman Act.
B) Price fixing is a process seen exclusively among sellers of goods and services.
C) Price fixing is permissible as it helps consumers or protects competitors from ruinous competition.
D) Price fixing also involves fixing the quantity of a product or service to be produced or provided.
Q4) The insurance business enjoys a statutory exemption from antitrust laws.
A)True
B)False
Q5) Mergers between firms in unrelated businesses are known as ________ mergers.
Q6) Give an account of state antitrust laws.
25
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Chapter 23: Consumer Protection
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Q1) Regulation Z is an administrative agency regulation that sets forth detailed rules for compliance with the ________ Act.
A) Fair Credit Reporting
B) Truth-in-Lending
C) Fair Credit Billing
D) Fair Debt Collection Practices
Q2) Sales made by door-to-door salespersons are not regulated by the FTC.
A)True
B)False
Q3) Which of the following is a function that the Consumer Product Safety Commission is empowered to execute?
A) collecting data regarding injuries caused by consumer products
B) regulating the distribution of genetically modified food products
C) recalling drugs that have been found to be harmful from the market
D) accepting petitions from consumers on wrongly labeled food products
Q4) Which of the following consumer products comes under the purview of the CPSC?
A) aircrafts
B) motor vehicles
C) firearms
D) children's toys
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Chapter 24: Environmental Protection
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Q1) Which of the following steps immediately follows the publication of the EIS for a proposed project?
A) the Congress has to pass a bill adopting the EIS
B) the non-profit environmentalists are allowed access to the EIS
C) the government issues an order to proceed with a federal action on the project
D) the interested parties submit comments to the EPA
Q2) Sources of thermal pollution are subject to the provisions of the Clean Water Act and the regulations adopted by the EPA.
A)True
B)False
Q3) Each state is required to prepare a(n)________ that sets out how the state plans to meet the federal standards set by the NAAQS.
A) strategic environmental assessment
B) environmental impact statement plan
C) state assessment plan
D) state implementation plan
Q4) Describe the purpose and requirements of an EIS?
Q5) The disposal of new hazardous wastes is regulated by the ________ Act.
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Chapter 25: Land Use Regulation and Real Property
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Q1) A ________ is a type of freehold estate wherein the ownership is taken away upon the occurrence or nonoccurrence of a specified condition.
Q2) Which of the following forms of tenancy involves the possession of property without right?
A) tenancy at sufferance
B) periodic tenancy
C) tenancy for years
D) tenancy at will
Q3) ________ is an interest in real property that lasts for a specified person's lifetime.
A) Life estate
B) Fee simple absolute
C) Servient estate
D) Fee simple defeasible
Q4) A(n)________ is created when a landlord and a tenant agree on a specific duration for the lease.
Q5) What is a general warranty deed?
Q6) Give an account of zoning. What are nonconforming uses?
Q7) What is an easement and how is it created?
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Chapter 26: International and World Trade Law
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Q1) The Association of Southeast Asian Nations (ASEAN)was created as a treaty among the oil-producing countries of Asia.
A)True
B)False
Q2) Which of the following is provided under the Foreign Sovereign Immunities Act?
A) It stipulates the rules for conflict resolution among the DR-CAFTA members.
B) It endows the president with powers to enter into treaties with foreign nations.
C) It exclusively governs suits against foreign nations in the United States.
D) It regulates commerce between the United States and foreign nations.
Q3) The World Bank is ________.
A) an autonomous agency under the aegis of the European Union
B) an agency that monitors the financial collaborations taking place in the eurozone
C) primarily responsible for promoting sound monetary, fiscal, and macroeconomic policies worldwide
D) primarily responsible for providing money to developing countries to fund projects for humanitarian purposes
Q4) What does the act of state doctrine assert?
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