Business - Business Law, Quiz Grade 3

1

Most administrative actions are resolved through negotiated settlements at their initial stages, without formal adjudication.

2

To be sufficient, a financial statement must:

3

UNIT TWO-APPLICATION AND ETHICS:THE BIGGEST DATA BREACH OF ALL TIME Hackers infiltrate the computer system of ChemCo Inc. and steal the company's trade secrets. If the hackers can be identified, they can be

4

There are three parties on a promissory note: the maker, the drawee, and the payee.

5

Which of the following would be the crime of obstruction of justice?

6

Administrative agencies may issue subpoenas to obtain business documents that agencies need for law enforcement. Subpoenas may:

7

Design patents extend for a 14-year period

8

To be effective, title to land may transferred only by deed

9

Aunilateral contract is formed at the moment when the contract is performed

10

Principle factors influencing the choice of business organizational form include tax ramifications

11

The elements that courts examine to determine undue influence include the following:

12

The concept of democracy is based on the belief that each individual has the right and duty to fully participate in social and political decision making.

13

The scope of the Clean Water Act is very broad

14

The members of Citizens Aware believe that a recently enacted federal law is unconstitutional. They write and sign a petition to the government to repeal the law, refuse to obey the law, and stop others from complying with the law. Under the First Amendment, these individuals have a right to

15

Jonah leases an apartment from Amy and pays rent of two months in advance, plus a damage deposit. Unfortunately, when Jonah attempts to move in, he finds that Eliza is living in the apartment. Eliza tells Jonah that Amy had no right to ask her to leave and that she is staying put. Which of the following is true, assuming that Eliza has no legal right to occupy the premises?

16

Most, but not all, contract rights are assignable.

17

For there to be a tort of negligence, there must be a causal connection between the alleged negligent conduct and the harm suffered

18

Explain the "secondary" nature of Local 164's actions in this case which were held to be a violation of Section 8(b)(4)

19

A principal is not liable for an agent's crime if the agent commits a crime in the scope of employment for the principal without the authorization of the principal.

20

Filing for bankruptcy under Chapter 13 of the bankruptcy code results in ______ of debts

21

Another term for punitive damages is exemplary damages.

22

UBS, a bank based in Switzerland, has received a subpoena from the IRS for the bank records of 52,000 U.S. citizens. The IRS alleges that the U.S. taxpayers hid money in UBS accounts for the purpose of avoiding paying taxes. UBS had created a program

Students should return to the "What if everyone behaved like this?" They could also raise the utilitarian aspect of transferring money in this way to avoid taxes and the avoidance of taxes in the context of the "good of the whole.". International law is different from U.S. laws and there are plenty of areas in which businesses (and here, individuals) can take advantage of the laws and regulations in other countries. The students should reflect the realization that they often demand of companies' behavior in other countries that meets U.S. standards (as with the labor cases), but in this situation individuals choose to take advantage of no taxes via international operations. Few see the parallels in behavior between what they indict companies for, but for which they give individual taxpayers an "atta boy" or "atta girl.".

23

One of the common functions of negotiable instruments is as a substitute for money

24

A group of employees being represented by a union is called a:

25

Which of the following is the dollar value of the mill rate 86.5?

26

Certain debtors may not qualify to have all debts discharged in bankruptcy.

27

Facilitation and grease payments are two different things

28

John's brother, Phil, loaned him $10,000 to start his business. John didn't do too well and planned to file for bankruptcy. In May, he gave Phil his car worth $8,000 to satisfy the debt. John filed his petition in November. After liquidation, if the car were included in his assets, every unsecured debtor would have received 85% of the debt owing to him. Will this be a voidable preference?

29

Miranda v. Arizona considered the intent requirement in an armed robbery case

30

Luke puts his motorcycle up for sale via a post on an online auction site. This is

31

If Oregon passed a statute that prohibited liquor stores from engaging in any kind of advertising, that statute would be A) valid as an exercise of police power

32

A(n) ________ is a document that modifies an insurance policy and becomes part of the insurance policy

33

Clauses in listing agreements exculpating brokers from liability to the seller are valid

34

Regarding antitrust enforcement in the European Union (EU) the following statement is true.

35

The Equal Employment Opportunity Commission is newer than most federal agencies

36

Which of the following statements regarding managers is most correct?

37

Ken loaned Barbara $8,000 and took back a note secured by Barbara's car. If Barbara files for bankruptcy when the value of the car is $4,500, what is Ken's status? He has a (n):

38

Which of the following is a false statement regarding trusts?

39

The Occupational Safety and Health Administration is charged with enforcing the Occupational Safety and Health Act through inspections announced at least two days in advance

40

Lauren transfers an instrument to Miguel in a form and by a means that makes Miguel a "holder." This is

41

A defendant in a lawsuit must file what document to avoid losing the action?

42

Which statement is FALSE?

43

Consumers view property listings on the Internet more than 300% more if they have more than 6 what?

44

Alvin promised Gia that if she quit her job in California and moved to New York, he would have a job for her. Gia sells everything and moves to New York. Alvin however does not hire Gia to work. Under which of the following circumstances would promissory estoppel take effect?

45

Which of the following items would be patentable?

46

A prospectus is required when any corporation issues new shares

47

Explain the rights of the owners and the association in a condominium ownership interest

In a condominium ownership interest, the owner acquires title to a "unit" within a building, along with an undivided interest in the land, buildings, and improvements of the "common areas" of the development. When the condominium is developed, a Declaration of Covenants, Conditions, and Restrictions (called CC&Rs) is filed. This document contains the architectural and use restrictions for the condominium development, assessments, and instructions for forming the condominium association that will manage the condominium. The association has the power, as provided in the CC&Rs, to levy assessments against the unit owners in order to manage, maintain, insure, repair, and replace the common areas. The association likewise has the authority to fine unit owners who do not comply with the CC&Rs.

48

What are tombstone ads and when do they occur?

49

Alice is a possible juror in a trial of Carla for the crime of robbery. Alice is questioned as to her knowledge of the defendant and about her general notions of the guilt or innocence of persons accused of crimes. Which of the following motions by Carla's attorney is the best example of one that is both legally correct and tactically appropriate?

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Business - Business Law, Quiz Grade 3

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