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Business Law Final ACFM 220 Bucknell
Business Law Final Exam Question Review
58
Business
Undergraduate 3
04/29/2015

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Term
The doctrine of stare decisis means that:
A) the common law has not been able to evolve in a astable and predictable manner
B) decisions can be overruled
C) courts adhere to and rely on rules of law that they or superior courts announced and applied in prior similar decisions.
D) courts are not allowed to correct erroneous decisions or choose among conflicting precedents
Definition
C
Term
The category of law that creates, defines, and regulates legal rights and obligations is known as...
A) Substantive law
B) Procedural law
C) Constitutional Law
D) Criminal Law
Definition
A) Substantive law
Term
Janet is called for jury duty and is selected for possible service on a jury. However, when the defendant's attorney sees her, he notices that she is wearing a green dress. Both the defendant and the defendant's attorney hate green dresses, so they strike her name from the jury. In this case:

A) valid challenge for clause
b) valid peremptory challenge
c) not a valid challenge
d) plaintiff's attorney can have Janet serve by making an offer of proof to the judge
Definition
B)this is a valid peremptory challenge
Term
In the Word-Wide VW Corp v. Woodson case, the Supreme Court found that:
a) for a state to exercise jurisdiction over the parties to a lawsuit, there must be sufficient minimal contacts between the defendant and the state.
b) occurence of an accident within a certain state is a sufficient circumstance for that state to exercise jurisdiction over the parties
c) the due process clause of the constitution was violated because of inadequate notice to the defendant
d) a business must solicit business in a particular state, wither through salespersons or advertising, in order to be subject to the jurisdiction of that state's courts
Definition
a) for a state to exercise jurisdiction over the parties to a lawsuit, there must be sufficient minimal contacts between the defendant and the state.
Term
Andrew, an attorney, has a case that was recently heard by the US court of Appeals. He would like to have the supreme court hear the case. One way by which the Supreme Court may review the case is by:
a)forum non conveniens
b) writ of centiorari
c) en blanc appeal
d) motion for supreme judgment
Definition
b) writ of centiorari
Term
Under the supremacy clause of the US constitution:
a) executive branch of government is the most powerful branch
b) federal law preempts state law, but only if it clearly conflicts
c)ederal law preempts state law, not only in cases where they conflict, but also if a congressional intent to preempt state legislation can be inferred.
d) the states and the people have the supreme power of governance
Definition
c) federal law preempts state law, not only in cases where they conflict, but also if a congressional intent to preempt state legislation can be inferred.
Term
In reading the title of a case, Smith v. Jones:
A) you cand determine that Smith is the plaintiff
B) you can determine that Jones is the plaintiff
C) the determination of who is the plaintiff depends on the level of the court at which the case is being heard.
D) it is not always possible to determine from the case title which party is the plaintiff.
Definition
D) not always possible
Term
Able and Baker are both residents of Iowa, but they have a dispute regarding some land located in Kansas. Able files a lawsuit in Kansas regarding the land and Baker objects, claiming that the Kansas courts have no jurisdiction. In this case:
A) only the Iowa courts can hear the case
B) the Iowa federal district court can hear the case based on diversity of citizenship
C) the Kansas courts have in rem jurisdiction to adjudicate the claim regarding the property
D) The Kansas federal district court can hear the case based upon diversity of citizenship.
Definition
C) In rem jurisdiction
Term
Generally, State A may exercise "long-arm" jurisdiction over a defendant located in State B defendant:
A) made a contract in State A
B) once resided in State A
C) uses a product produced in State A
D) has relatives in State A
Definition
A) contract in state A
Term
Appellate judges can reverse a decision of the trial court:
A) where any error below is found
B) only where there was a mistake about the law or court procedures that substantiated appellants rights and duties.
C) only where the outcome of the case is clearly wrong and justice demands a remedy
D) where the losing party demands a new trial
Definition
B
Term
what constitutional principle requires that similarly situated people be treated similarly by government?
a) commerce clause
b) equal protection
c) due process
d) free speech
Definition
b) equal protection
Term
In Brentwood Academy v. Tennessee Secondary School Athletic Association case, the U.S Supreme Court held that:
A) state action may be found only if the Association attempts to limit a fundamental right such as free speech.
B) state action may be found only if there is such a close nexus between the state and the challenged action that seemingly private behavior may be fairly treated as that of the state itself.
C) public school officials do not act within the scope of their duties, even when they represent their institutions, if they violate the U.S Constitution.
D) the Association had private school membership, thereby preventing the action of the Association from being considered state action.
Definition
B
Term
State X passes legislation that requires that unless a mother of children under the age of 7 is found to be unfit, custody in divorce proceedings should be awarded to the mother and not the father. If this statute is challenged, the court will:
A) determine that fundamental rights and suspect classification are involved in this legislation.
B) only require that the legislation conceivably bears some rational relationship to a legitimate governmental interest
C) review the legislation to see if the preference to mothers bears a substantial relationship to an important governmental objective.
D) determine whether this legislation is necessary to promote a compelling governmental interest.
Definition
C
Term
The fraudulent conversion of another's property by one in lawful possession of it is:
A) Robbery
B) Theft
C) Larceny
D) Embezzlement
Definition
D
Term
The criminal intent necessary to commit a crime is known as:
A) mens rea
B) actus rea
C) the reasonable person test
D) malice afterthought
Definition
A- mens rea
Term
Arthur wrote a defamatory letter regarding Bill which he mailed to Bill, but which he did not show to anyone else.
A) Arthur has committed the tort of slander
B) Arthur has committed the tort of libel
C) Arthur has committed both libel and slander
D) Arthur has committed neither slander nor libel.
Definition
D-neither
Term
The tort of ________ is a false communication which injuries a persons reputation and good name by disgracing him and diminishing the respect in which he is held.
A) false light
B) intrusion
C) defamation
D) disparagement
Definition
C - defamation
Term
Andrew noticed Michael and his pregnant wife Georgette walking down the street and, as a joke, drove his car within inches of Michael. Michael wasn't injured, but his wife suffered severe mental distress and needed to be hospitalized in order to save his the pregnancy. Andrew has:
A. no liability to Georgette, because it was a joke
B. committed the tort of battery against Georgette
C. committed the tort of battery against Michael but has committed no tort against Georgette
D. committed the tort of intentional infliction of emotional distress against Georgette
Definition
D. committed the tort of intentional infliction of emotional distress against Georgette
Term
By law, all apartment buildings in New Jersey must have smoke alarms in the ceilings. Mary suffers smoke inhalation because the smoke alarm in her apartment building was not yet installed. To win negligence action against her building owner, Mary would have to prove
A. a duty exited toward her
B. a breach of that duty
C. injury and causation
D. All of the above
Definition
C. injury and causation
Term
Which of the following is correct with respect to the reasonable person standard?
A. it makes allowance for mental deficiency
B. it makes allowance for physical disability
C. it does not take into consideration a child's age
D. it does not take into consideration emergency situations
Definition
B. it makes allowance for physical disability
Term
In the Phillip Morris USA v Willliams case, the US Supreme Court held that?
A. the Due Process Claim forbids a state from using a punitive damages award to punish a defendant for injury it inflicts on nonparties
B. courts may not award punitive damages in negligence cases; the defendant must have acted purposefully
C. the punitive damage award was "grossly excessive" in this case
D. punitive damage serve a narrower function than compensatory damages
Definition
A. The Due Process Claim forbids a state from using a punitive damages award to punish a defendant for injury it inflicts on non parties
Term
In which of the following situations would a court be likely to find an affirmative duty to act?
A. where a pedestrian witnesses an auto accident in which one of the drivers is injured
B. where an airline attendant sees one passenger threaten another passenger
C. where the driver of a car sees a two year old toddler wandering in the middle of a busy street
D. All of these are correct
Definition
B. Where an airline attendant sees one passenger threaten another passenger
Term
An emergency situation
A. Changes the burden of proof required in a negligence lawsuit
B. is considered when determining whether conduct was reasonable in a negligence lawsuit
C. imposes a duty to act and failure to do so can result in a successful lawsuit against the non-actor
D. will absolve an actor of all liability for actions taken in response to the emergency
Definition
B. is considered when determining whether conduct was reasonable in a negligence lawsuit
Term
The intermediate equal protection test:
a) does not require governmental action to bear a substantial relationship to an important governmental objective
b) does not allow taking into legislative consideration the natural physical differences of gender
c) requires that men and women be treated exactly the same with regard to governmental action
d) eliminates the strong presumption of the constitutionality of legislation that exists under the rational relationship test
Definition
d) eliminates the strong presumption of the constitutionality of legislation that exists under the rational relationship test
Term
In addition to the four basic requirements of a contract, which of the following must also occur in order to have a valid contract?
A) the agreement must be in writing
B) there must be evidence of undue influence
C) there must be an absence of invalidating conduct, such as duress
D) A legal remedy must be available for there to be a breach
Definition
C
Term
George has been declared incompetent by the court and is under the care of his sister. Unknown to his sister, george rents a 30,000 seat civic center for his birthday party. George's contract to rent the civic center is best described as:
A) A void contract
B) Quasi contract
C) a voidable contract
D) an enforceable contract
Definition
A) void
Term
Caroline signs a contract to work as a sales rep for Incellmed Corp. for a period of two years. This contract is governed by:
A) Article 2 of the UCC
B) state common law
C) federal statute
D) the law of quasi contract
Definition
B) state common law
Term
The UCC would applyy to which of the following:
A) A contract for employement
B) a contract to provide accounting services
C) a contract for the sale of automobile parts
D) a contract for the lease of real property
Definition
C
Term
Which of the following is not an element necessary for recovery in a quasi contract?
A) a benefit conferred on the defendant by the plaintiff
B) an implied or express promise
C) the defendants knowledge or appreciation of a benefit
D) the defendants acceptance or retention of a benefit.
Definition
B
Term
Elmer wrote a letter to his friend Fred offering to sell Fred an 80-acre farm for 200,000. After mailing the letter, Elmer learns that the farm is actually worth 300,000 and changes his mind about selling. Elmer:
A) has made a firm offer to fred which cannot be revoked
B) can revoke his offer at any time before Fred accepts it, because there is no consideration to keep it open.
C) must keep the offer open, because this is an option contract
D) is promissorily estopped from revoking his offer to fred.
Definition
B
Term
An offer need not take any particular form to have legal validity. To be effective, however, it must:
A) be spoken directly to the offeree
B) always contain the price of the product or service offered
C) always contain the place of delivery
D) be communicated to the offeree
Definition
D
Term
If there is no time specified for the acceptance of an offer, when does the offer terminate?
A) after 24 hours
B) after 48 hours
C) after 2 weeks
D) after a reasonable period of time
Definition
D
Term
Albert read ElectroCorp's ad in the local newspaper advertising a flat screen TV for $89. Albert rushed to the store to buy the TV only to be told by the salesperson that the ad was a misprint and the price should have been $389. Albert gave the spokesperson $89 plus sales tax and demanded the TV.
A) the ad is a firm offer by the merchant and the TV must be sold for $89
B) the ad is a contract and the store must abide by terms stated in the contract.
C) the store must accept the price stated in the ad, but only if albert has a copy of the ad with him.
D) Albert is merely making an offer to ElectroCorp to buy the TV for $89 plus sales tax.
Definition
D
Term
Ben and Kate had been neogiating Ben's employment contract in conversations over the phone for a couple of weeks. Finally, they agreed on some contract terms. Kate offered to create a draft of the contract for Ben to read over. On the same day, Ben was fired from his job. Afraid he would be unemployed, Ben signed Kate's draft without reading it. In this example Ben:
A) can avoid the contract because of mistake by failure to read
B) can avoid the contract because he was the victim of economic duress.
C) cannot avoid the contract because of economic duress or failure to read.
D) may rescind the contract because of unilateral mistake.
Definition
C
Term
Adam wants to but a six-passenger car. The salesman tells him that the two-seat sports car Adam sees is perfect for six people. Adam test drives the car and buys it. In this case:
A) Adam has a valid cause of action for fraud
B) Adam was not justified in relying upon the salesman's representation that the car would seat six people
C) The element of scienter is missing
D) The salesman is in a confidential relationship with Adam
Definition
B. Adam was being a fucking idiot and should've known better
Term
If incorrect, which of the following would probably be considered a misrepresentation of a material fact?
A) "This is the one that I think is the best buy"
B) "This is the best computer on the market"
C) "This car has new brakes"
D) "These tires will wear like iron"
Definition
C) All others would be considered opinion, where this is a blatant lie
Term
Jill contracts to purchase Kevin's automobile under the belief that she can sell it at a profit to Linda. After she buys it and finds out Linda isn't interested, Jill:
A) Can't avoid the contract
B) Can rescind the agreement
C) Could rescind the agreement if she was mistaken in her estimate of the value of the car
D) Can sue Linda for detrimental reliance
Definition
A
Term
Aunt Ellie promises her 21 yr old nephew that shell pay him 100 if he quit smoking for a month. If he does, is there a binding contract?
A) No, because he gave no benefit to auntie
B) no because he didnt suffer any detriment
c) yes because stopping smoking improves his health
d) yes because he gave up a legal right
Definition
D
Term
W helped H study for a test. After H passed, he told W he would give him $10 for helping him pass. W said thanks ill take it.
A) there is not contract because there is no mutual assent
B) there is no contract because there is no valid consideration
C) There is no contract because $10 is reasonably inadequate consideration
D) there is a contract with sufficient consideration
Definition
B
Term
Neil gives Al 50 in return for al's promise to defame Sara. Nell hopes to ruin sara's chances at a promotion, so he gives al 50 in return for also promise to defame sara. Nell finds out that al did not hold up his end of the agreement. Which of the following statements are true?
a) nell can get the money back from al through litigation
b) nell can get the money back and force al to do as he promised
c) legally, nell can neither get the money back nor force al to do as he promised.
d) nell can force al to act through an appeal to the courts, but al gets to keep the 50
Definition
C
Term
Claudia sells her highly successful hair salon to Carl. in the sales contract, claudia agrees to never open a hair salon in the state. Which of the following best describes this contract clause?
a) void as an illegal violation of statute
b) unenforceable as a violation of public policy
c) valid as a reasonable restraint on trade
d) binding as fair protection
Definition
B
Term
Which of the following is true with regard to an exculpatory clause?
a) an exculpatory clause excuses one party from a liability to her own tortuous conduct
b) where one party has a superior bargaining position that has enabled him to impose an exculpatory clause upon the other, the courts are inclined to nullify the provision.
c) an exculpatory clause may be unforeseeable for unconscionability.
d) all of the above are true
Definition
D
Term
A(n) ______ is a measure designed to protect the public from unqualified practitioners.
a) regulatory license
b) revenue license
c) exculpatory clause
d) usury statute
Definition
A
Term
Before granting an injunction enjoining a former employee from competing in a described territory, the court insist that the employer demonstrate that the restriction is ____________ to protect the employer's legitimate interest.
a) exculpatory
b) unconscionable usurious
c) usurious
d) necessary
Definition
D
Term
The sole nursing home in the county offers a long-term care agreement. The contract is prepared on a standard form and offers terms on a take-it-or-leave-it-basis. Such a contract is called:
a) exculpatory
b) a usurious contract
c) an illegal restraint on trade
d) an adhesion contract
Definition
D
Term
A bank robbery occurs and the bank offers a $1000 reward for info leading to the arrest and conviction of the robber. Several people help and claim to be entitled to the money. which are eligible?
A) An employee of the bank
B) An on duty cop from the county the arrest occurred in
C) an off duty cop from another county
D) none of the above
Definition
C
Term
Barrys sport shop calls champion to order 200 designer shirts at $2 per. He decides after the original order to call and buy 100 more. Champion sends 200 shirts. Can he force champion to send him the other 100 shirts?
A) No because there is no consideration for the extra shirts
B) no because Barry doesnt have a writing signed by Champion
C) Yes because this is a subsequent modification of the contract
D) Yes because Champion is a merchant within Article 2 of the UCC
Definition
B) THe price change would go from 400 - 600. since it goes to over 500, according to the UCC, it must be in writing for it to be upheld in court.
Term
Anita owes Brad 75k. Brad signs a written statement granting carl a gratuitous assignment of his rights from Anita. If he delivers it to carl before he dies:
A) the delivery of the assignment makes it irrevocable
B) the assignment is terminated upon Brad's death
C) the signing of the statement makes the assignment irrevocable
D) the assignment is invalid because it is revocable
Definition
A
Term
Stark enters into a contract with a contractor to build a shopping mall in River City. Donner will benefit from this since his store is nearby. Donner is:
A) an implied beneficiary
B) a partial beneficiary
C) a donee beneficiary
D) an incidental beneficiary
Definition
D
Term
Anna is 88 years old and under the legal guardianship of her daughter. One day anna receives a telephone call from a health insurance salesman and purchases a $400 a month medigap insurance policy. The contract is:
a) void
b) voidable
c) unenforceable
d) valid
Definition
A) void
Term
Under the UCC, when the minor has sold goods and the buyer has resold them to a good faith purchaser for value:
a) the minor can disaffirm and recover the property
b) both the purchaser from the minor and the good faith purchaser for value acquire legal title
c) the good faith purchaser for value acquires valid legal title
d) the good faith purchaser for value receives a voidable title.
Definition
C
Term
Steve purchases a four-wheel drive truck from Belk auto sales. Steve is only 17 years of age. He wrecks the vehicle and attempts to disaffirm the contract and have Belk repay him all that he has paid. In the majority of jurisdictions, what would happen?
a) steve would be out of luck
b) steve must have the truck repaired
c) steve will receive money less the depreciation in value of the vehicle
d) steve may simply return the vehicle and get his money.
Definition
D
Term
Which of the following promises does NOT have to be evidenced by writing in order to be enforceable?
a) jones's agreement with sally to sell his condominium for 100,000
b) stewart's promise to work for austin for a two year period of time
c) dad's promise to the credit union that he will make payments on his son's truck.
d) mindy's agreement with susan to buy her bike for 400
Definition
D
Term
Which of the following is an exception to the suretyship provision requirement under the statute of frauds?
a) a collateral promise made to the creditor
b) a promise, the leading object of which is to obtain economic benefit for oneself
c) a colllateral promise where there are three parties and two contracts are involved
d) a promise by an executor to pay the debts of the decedent from the executor's own funds.
Definition
B
Term
Anita owes Brad 75k. Brad signs a written statement granting carl a gratuitous assignment of his rights from Anita. If he dies before the statement is delivered:
A) the delivery of the assignment makes it irrevocable
B) the assignment is terminated upon Brad's death
C) the signing of the statement makes the assignment irrevocable
D) the assignment is invalid because it is revocable
Definition
B
Term
The Code greatly alters the common law doctrine of material breach by adopting what is known as:
a) the perfect tender rule
b) anticipatory repudiation rule
c) prevention of performance rule
d) discharge by operation of law rule
Definition
A
Term
Jack borrowed $50 from R for a few weeks. Jack then says to R, I will wash and wax your car in exchange for the $50 I owe you. R says "great!" Jacks performance of this new duty is:
A) an accord
B) a novation
C) a rescission
D) a satisfaction
Definition
D
Term
On November 1, P and R enter a contract where both are obligated to perform on Dec 31. On Dec 1, P tells R she cant fulfill her duties to the contract. This statement is:
A) a material alteration
B) anticipatory repudiation
C) a nonmaterial breach since the statement is made before Dec 31
D) an accord
Definition
B
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