Business - Business Law

The agenda for a meeting of the shareholders of a corporation would not usually include

A(n) ________ contract is implied by the direct or indirect acts of the parties.

An e-license is a contract whereby the owner of software grants limited rights to the owner of a computer or digital device to use the software

4

Under the privileges and immunities clause, the federal government has the power to regulate commercial activities among the states.

5

Which of the following statements is true of the contract clause?

6

A dependent agent relationship allows for greater quality control but reduces the level of profit that accrues to the principal

7

If the delivery terms are not specified in a contract, the normal usage that the courts impose is for the seller to pay for shipping to the buyer's place of business

8

Even if the bank pays a check in spite of a stop-payment order, the bank will not be obligated to recredit the customer's account

9

Statutes of many states will shorten the time for valid post-dissolution claims if the dissolving corporation

10

The apparent authority of a partner to bind the partnership in dealing with third parties:

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A misrepresentation of a material fact is actionable as fraud only if it occurs by words

12

An instrument is not considered canceled if it is destroyed or mutilated by accident or by an unauthorized third party

13

________ is a restraint of trade in which a seller refuses to sell one product to a customer unless the customer agrees to purchase a second product from the seller

14

Spicy Sauces, Inc., and Tom’s Bottling Plant have a manufacturing franchise arrangement. This involves the transfer of

15

assignment of rights

16

If a job applicant or an employee with a disability, with reasonable accommodation, can perform essential job functions, the employer must make the accommodation.

17

Zara purchased a boa constrictor from an online pet store, Exotic Pets 4 U. Before the store can deliver the boa constrictor, the government bans the ownership of boa constrictors as pets. In this case, Exotic Pets 4 U is excused from its obligation under the contract due to impossibility of performance.

18

What is a bona fide occupational qualification (BFOQ)? How can an employer establish a BFOQ?

19

Which of the following is true of the basis of the U.S. legal system?

20

Overtime pay is given to nonexempt employees who work more than 40 hours in a work week

21

To avoid violating antitrust law while attending industry conventions, competitors should:

22

A corporation's sale of substantially all of the assets of the business must be approved by its shareholders.

23

Which of the following is NOT required to create a valid sales contract?

24

A ________ is one that is regularly engaged in the sale of a particular good.

25

Property is:

26

The National Priority List was drawn by EPA with reference to which of the following statutes?

27

In American Hospital Association v. NLRB, the U.S. Supreme Court upheld the NLRB's health care industry bargaining unit rules and the power of the NLRB in order to establish: A) prima facie case through disparate impact treatment

28

An entrepreneur is a person who forms and operates a business.

29

Under 2-711 of the UCC, a buyer has a remedy called "cover". What is cover and when can it be used?

30

Electronic fund transfers that begin at retailers when consumers want to pay for goods or services with debit cards are called point-of-sale systems

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The Clean Water Act requires anyone discharging pollution into navigable water to obtain a permit from the EPA

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Language that attempts to dismiss an express warranty is warranty

33

In order to recover for a general average claim, the claimant must prove that the ship was in imminent danger

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The resolutions that shareholders vote on at shareholder meetings are advisory to the board

35

Big Burger Co sues Bakum Corporation for breach of contract for $1,000 of hamburger buns that were not delivered. Bakum may assert as a defense to payment that Big Burger is not a de jure corporation

36

Under the common-law agency test, the most critical factor in determining employee status is whether a(n):

37

Foreclosure is an action through which the mortgage holder takes the property from the mortgagor, ends the mortgagor's rights in the property, and sells the property to pay the mortgage debt.

38

When one tenant in common dies, that party's interest in the property automatically passes to the surviving owners

39

A federal agency must respond to all comments on a proposed rule

40

In some personal injury cases, an award for punitive damages exceeds the award for compensatory damages

41

Which of the following is the correct definition of a waiver in terms of contract law?

42

Punitive damages may be recovered in a case of discrimination against a private employer if it acted with malice

43

Sunday laws, while legal, are gradually being repealed or ignored

44

________ theory in contract law, means that the existence and interpretation of the contract is based on the outward manifestations of intent by the parties.

45

True or False. A work must be original and fixed in a durable medium to be copyrighted.

46

Phil has a partnership interest in Best Bike. He has been denied access to the books and records and he suspects that one of the partners is engaging in secret business transactions using partnership funds. Phil wants to know the status of the business. Phil should request an______:

47

Discuss some of the key indicators of America's economic and social health.

Some of the key indicators of America's economic and social health include:

a.	Overall quality of life. According to a U.N. 2015 report on overall quality of life

(based on income, life expectancy, and education), America is doing relatively well. A similar but broader study, the 2015 Social Progress Index, ranked the United States 16th in the world on general quality of life. America ranks first in freedom of speech and access to advanced education but 30th in personal safety, 30th in life expectancy, and 39th in nutrition and basic medical care.94

b.	Poverty. The number of Americans in poverty declined in 2015, but 13.5 percent of

the population still fell below the official government poverty line ($24,300 for a family of four in 2016). A 2016 Stanford Center on Poverty and Inequality study ranked the United States 10th of 10 developed countries on measures of poverty and inequality.

c.	The Gaps. Gaps in wealth and income raise concerns about fundamental unfairness in

American life that might undermine democracy and public health while reducing overall economic strength and social cohesion. The income gap in America has been growing. Fifty years ago, the ratio of CEO to average worker pay, for example, was about 20 to 1; today it is about 300 to 1.

d.	Community. Mounting evidence suggests that our lives are increasingly solitary,

distant, and estranged. The market is driven by and rewards individual achievement. Whether a product of capitalist impulses or not, we do have evidence of declining social connections.

48

The ADEA and the ADA protect:

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The principal broker is generally responsible for all business conducted by the firm.

50

Jody loaned her neighbor, Phil, her snow blower. Phil set it near his driveway, and later accidentally ran over and destroyed it. In a suit to recover damages, Jody as plaintiff has the burden of proving that Phil was negligent and caused the destruction of her snow blower

51

What effect does a finding that a company is a de minimis polluter have on the company's liability?

52

Colin signs a note “payable to the order of Debit Bank.” The bank indorses the note in blank and negotiates it to Equity Funds, which sells it to Financial Investments. Liability associated with the transfer of the note from Equity to Financial is

53

Zoe, who works as a retail clerk, wishes to talk with her co-workers about organizing a union. Her employer forbids her from talking with other workers about union activity in the presence of customers and threatens to fire her if she joins the union. Does the employer have a legal right to make this threat to Zoe?

54

Fresh Diary, Inc., is the offeror and Gelato Ice Cream Company is the offeree under a unilateral sales contract in which Hector's Helado Corporation is also interested. Gelato is not notified of Fresh Dairy's performance within reasonable time. Gelato:

55

A corporation may accomplish acquiring all or substantially all assets of another corporation by:

56

Cody signs and returns a letter from Deb, referring to Deb's Double-D Ranch and its price. When Cody attempts to complete the deal, Deb refuses, claiming that they have no contract. Cody claims they do. What standard determines whether these parties have a contract?

57

If a qualified black person applied for a particular job and was rejected for that job just because he was black, and the employer kept the position open and hired an equally qualified white person, it would be a case of which of the following types of discrimination?

58

Gem Jewelers files a voluntary petition for bankruptcy. In listing its assets, Gem intentionally omits certain valuable stones. After Gem is granted a discharge, Hor d'Ouerve Catering, one of Gem's unsecured creditors whose claims were discharged, learns of the fraud. Hor d'Ouerve can

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Business - Business Law

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