Quiz Review 9, Business - Business Law

1

Maple Products Corporation is a public company, which New Hampshire regulates and in which Orin invests. The Sarbanes-Oxley Act of 2002 introduced direct federal corporate governance requirements to

2

Which of the following statements is true of the Foreign Sovereign Immunities Act?

3

Which of the following is defined for antitrust purposes as the power to exclude competitors in a given market?

4

A warranty may be generally defined as a statement:

5

The perfect tender rule requires that the seller's tender of performance must conform exactly to the contract subject to:

6

Justifiable reliance is an element of fraud.

7

Alf rents an apartment. The lease does not specify how long it will last, but it does specify that Alf must pay rent every month. Alf's tenancy is

8

The Equal Pay Act requires that employees of Native American ancestry and employees of Italian ancestry be paid equally for equal work

9

When a check is certified, the certifying bank

10

Trade secrets: A) are registered for 14 years

11

The "comply or else" guideline gave companies the flexibility to comply with governance standards or explain their noncompliance in their corporate documents.

12

Josh saw a bicycle advertised with a sale price of $29 in the Wal-Smart sale flyer inserted in the Sunday newspaper. Josh went to the store and located the advertised bicycle. There was a sign indicating that the price of the bicycle was $229, though the sign did not mention that the sale flyer was inaccurate. He took the bicycle to the cashier, and handed her $50.00 bill and said, "I accept. We have a deal". The cashier then scanned the item and told the consumer an error had been made in the advertisement and that the price was $229. In this case:

13

Pro forma numbers are:

14

__________ liability is the responsibility of an acquirer of corporate assets for the liabilities of the seller

15

Under common law, modifications to existing contracts require new consideration from each party.

16

The agencies outside the executive branch that are headed by groups or individuals are created by the:

17

________ will create a distinction between thin consent and thick consent according to Adam Moore.

18

The capacity to act through an agent, depends on the capacity of the agent to do the act.

19

The constitutional privilege:

20

________ is analogous to forgery because it also involves the alteration or falsification of an object or a document with intent to defraud.

21

Under the Fifth Amendment, when can a person be forced to produce documents for a government prosecution that could implicate a business in a violation of the law?

22

In 1998, the length of copyright protection for an individual holder was extended to the life of

23

GR*Tech Company agrees to sell computer equipment to Home Office Stores, Inc., to market to its customers. Normally, their contract would not be enforceable unless it includes

24

True or False. When a legally enforceable promise is broken, the injured party can seek damages.

25

Sierra is a holder of preferred stock in Rio Grande Irrigation & Development, Inc Sierra has priority over holders of Rio common stock as to A) nothing

26

In general, a mortgagor is under a duty to: ______

27

Working out some frustrations after a bad game, Jessica angrily hits a baseball and then sees it is flying toward the umpire. She yells, "Watch out!" The umpire ducks and the ball misses him. Since there was no physical contact, no assault or battery occurred

28

The purpose of bail bond in a criminal proceeding is to assure the appearance of the defendant in court

29

Which of the following statements about the English feudal system and disposition of property is false?

30

Lila obtains a life insurance policy with no cash surrender value and names her son Maurice as the beneficiary. This is

31

A contract where formation was induced by duress is an example of a contract that is:

32

integrated contract

33

A user's presence must be visible and generally known in the area, so that the owner is on notice that his title is contested.

34

What are the four common exemptions from blue sky laws that have been identified?

35

[House Painting] Graciela Reyes signed a check agreeing to pay, "Annie Greene, Marney Harris," $1,000. The payment was for painting her house. A problem with the note was that it spelled Annie's last name, "Greene," whereas Annie spells it simply, "Green." Annie and Marney were having a disagreement regarding how to split up the funds for painting the house. Annie proceeded to sign the check on the back, "Annie Green," and presented it to Hiro Murakami to satisfy a debt that she owed him. Hiro Murakami endorsed the check on the back, "Hiro Murakami, without recourse," and gave it to his nephew, Nate, who took it to the bank for payment. Meanwhile, Graciela has stopped payment on the check because, following a rainstorm, all the paint on the house looked spotted. Marney is unhappy because

36

What is a contingent fee? What distinguishes a lawful contingent fee from an unlawful one?

37

Most states follow the Doctrine of Ancient Lights

38

Discovery procedures are intended to be used by the parties to litigation strictly under a court's direct supervision.

39

Value is identical to simple consideration.

40

to commit trespass to land, a person must harm the land

41

A misdemeanor is a less serious crime, punishable by less than a year in jail

42

If goods are advertised in a newspaper at an incorrect price, and the fault is that of the newspaper, the merchant may be able to recoup his or her losses from the publication.

43

________ is commonly identified with the policy of "maximizing the overall good."

44

Green Glass Corporation makes glass bottles for food and beverage makers to package their products for wholesale distribution and retail sale. Liability may be imposed on Green Glass based on

45

Amy is on the board of directors of Computers Plus. Computers Plus is looking for a warehouse to purchase. Amy owns a warehouse. In order for Amy to sell her warehouse to Computers Plus A)the transaction must be fair to both Amy and Computers Plus

46

A union contract binds the employer to recognize certain hours of work

47

In a lease contract, the title of goods is passed from the lessor to the lessee.

48

A debtor may rescind a contract under the Truth in Lending Act:

49

The term actus reus means a wrongful deed or guilty act

50

If a physical exam is necessary to determine the extent of an injury to the plaintiff that is relevant to a case, the doctor used must be one approved by the plaintiff

51

[License Challenge] Talia was licensed by her state to train massage therapists. The state-licensing agency, the Aesthetic and Massage Commission, took very seriously its role of enforcing the state statute enabling the Commission to do its work and providing that licensed massage therapists must refrain from "any act or conduct indicating bad faith, incompetence, dishonesty, or improper dealing." Rules were passed authorizing the agency to revoke the license of anyone found guilty of such acts or conduct. While driving home late one night from a party, Talia was stopped by police and arrested for driving under the influence of alcohol. She pled guilty to the offense. When the Aesthetic and Massage Commission discovered the conviction, the officials of the agency met, decided that Talia

in Business

might drink on the job, and that she might pose a danger to students. Accordingly, her license to teach massage therapy was revoked. Talia threatened to sue to retain her license and was told by the agency head that she had no right to appeal to court because, based on her admission of guilt, no factual dispute was involved. The agency official went on to say that even if an appealable issue existed, agency action may only be overturned when there is clear and convincing evidence that the agency exceeded its discretion. The administrative system in Talia's state is identical to the federal system.Regarding the statement of the agency that Talia had no right to appeal to court, which statement is true?

A. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an independent agency may be appealed to court, actions of an executive agency may not be appealed to court.
B. Further information is needed regarding whether the agency was an executive agency or an independent agency because while actions of an executive agency may be appealed to court, actions of an independent agency may not be appealed to court.
C. Because the agency was set up to protect the safety of the public, the agency representative is correct unless Talia can establish that she entered into a separate contractual arrangement with the agency when she was hired that gave her the right to appeal decisions to court.
D. Because the agency was set up to protect the safety of the public, the agency representative is correct; and Talia has no right to a court action and no right to enter into a contractual agreement with the agency regarding appeal rights.
E. The agency representative was wrong; and if Talia cannot resolve the issue within the agency, she may appeal to court for judicial review.

52

The Statute of Frauds recognizes electronic signatures as legally enforceable.

53

The United States does not recognize sovereign immunity for commercial activities of foreign

54

When Qui Tam whistleblowers against the pharmaceutical industry were questioned about their motivation, several reasons were mentioned. Which of the following was NOT given as a reason?

55

If a guest is bitten by a pest or insect, the hotel will be found liable as long as:

56

Which of the following refers to ownership by one person?

57

Creditors may not contract with a debtor for payment of a sum less than that owed.

58

A shareholders' written agreement, unlimited in duration, to vote in a specified manner for the election of directors is a voting trust.

59

Which of the following is involved in a situation in which a person refuses to perform according to a contract unless the other person either signs another contract with the one making the threat or pays that person a higher price than was specified in the original agreement?

60

Indorsers and drawers are the parties whose liability on negotiable instruments is ordinarily primary

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Quiz Review 9, Business - Business Law

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