Fill in the blank. In the United States, both the national government and the state governments can make law in a system known as _____________.
Select one: a. Common law b. Federalism c. Primary law d. Stare decisis
Definition
Fill in the blank. In the United States, both the national government and the state governments can make law in a system known as _____________.
Select one:
a. Common law
b. Federalism
c. Primary law
d. Stare decisis
Term
Which of the following statements about the United States Constitution is true?
Select one:
a. The U.S. Constitution is the supreme law of the land. b. The U.S. Constitution consists of statutes passed by Congress. c. The U.S. Constitution can be overruled by the Supreme Court. d. The U.S. Constitution can be overruled by state laws.
Definition
Which of the following statements about the United States Constitution is true?
Select one:
a. The U.S. Constitution is the supreme law of the land.
b. The U.S. Constitution consists of statutes passed by Congress.
c. The U.S. Constitution can be overruled by the Supreme Court.
d. The U.S. Constitution can be overruled by state laws.
Term
What is the common law?
Select one:
a. Law created by Congress and state legislatures b. Law that creates the structure of the government in the United States c. Law created by administrative agencies d. Judge-made law in Great Britain and its former colonies
Definition
What is the common law?
Select one:
a. Law created by Congress and state legislatures
b. Law that creates the structure of the government in the United States
c. Law created by administrative agencies
d. Judge-made law in Great Britain and its former colonies
Term
Fill in the blank. The United States Supreme Court’s authority to decide the meaning of the Constitution is known as ________________.
Select one:
a. Stare decisis b. Subject matter jurisdiction c. Diversity jurisdiction d. Judicial review
Definition
Fill in the blank. The United States Supreme Court’s authority to decide the meaning of the Constitution is known as ________________.
Select one:
a. Stare decisis
b. Subject matter jurisdiction
c. Diversity jurisdiction
d. Judicial review
Term
Which of the following statements about members of the Supreme Court of the United States is true?
Select one:
a. They serve for a four-year term. b. They may serve no longer than the age of 65. c. They have life tenure. d. They serve as long as the president desires.
Definition
Which of the following statements about members of the Supreme Court of the United States is true?
Select one:
a. They serve for a four-year term.
b. They may serve no longer than the age of 65.
c. They have life tenure.
d. They serve as long as the president desires.
Term
For a bill to become a federal law in the United States, which of the following must occur?
Select one:
a. It must be introduced by the president, passed by both houses of Congress, and approved by the Supreme Court. b. It must be passed by both houses of Congress and either be signed by the president or Congress must override the president’s veto. c. It must be passed by both houses of Congress and approved by a majority of the states’ legislatures. d. It must be passed by both houses of Congress, approved by the Supreme Court, and approved by a majority of the states’ legislatures.
Definition
For a bill to become a federal law in the United States, which of the following must occur?
Select one:
a. It must be introduced by the president, passed by both houses of Congress, and approved by the Supreme Court.
b. It must be passed by both houses of Congress and either be signed by the president or Congress must override the president’s veto.
c. It must be passed by both houses of Congress and approved by a majority of the states’ legislatures.
d. It must be passed by both houses of Congress, approved by the Supreme Court, and approved by a majority of the states’ legislatures.
Term
Benefits of arbitration include all of the following EXCEPT:
Select one:
a. It is usually less expensive than litigation. b. It is usually faster than litigation. c. The decision of the arbitrator is never binding. d. Discovery tends to be much simpler.
Definition
Benefits of arbitration include all of the following EXCEPT:
Select one:
a. It is usually less expensive than litigation.
b. It is usually faster than litigation.
c. The decision of the arbitrator is never binding.
d. Discovery tends to be much simpler.
Term
What is the burden of proof in a civil trial?
Select one:
a. Beyond a reasonable doubt b. Preponderance of the evidence c. Without a doubt d. Reasonable suspicion
Definition
What is the burden of proof in a civil trial?
Select one:
a. Beyond a reasonable doubt
b. Preponderance of the evidence
c. Without a doubt
d. Reasonable suspicion
Term
Arbitration is similar to litigation in all of the following respects EXCEPT:
Select one:
a. A neutral third party presides over the proceedings. b. The decisions of arbitrators become binding precedent. c. Arbitration is an adversarial process. d. Parties introduce evidence.
Definition
Arbitration is similar to litigation in all of the following respects EXCEPT:
Select one:
a. A neutral third party presides over the proceedings.
b. The decisions of arbitrators become binding precedent.
c. Arbitration is an adversarial process.
d. Parties introduce evidence.
Term
Drawbacks to mediation as compared to litigation include all of the following EXCEPT:
Select one:
a. Both parties in mediation must be willing to reach an agreement. b. It is usually more expensive than litigation. c. A mediator may not have the expertise or background appropriate to a particular dispute. d. The mediation is not binding on the parties.
Definition
Drawbacks to mediation as compared to litigation include all of the following EXCEPT:
Select one:
a. Both parties in mediation must be willing to reach an agreement.
b. It is usually more expensive than litigation.
c. A mediator may not have the expertise or background appropriate to a particular dispute.
d. The mediation is not binding on the parties.
Term
Mediation is similar to litigation in which way?
Select one:
a. In mediation, parties are bound by decisions of the mediator. b. In mediation, the process is adversarial. c. In mediation, the process is slow and complex. d. In mediation, a neutral third party is involved.
Definition
Mediation is similar to litigation in which way?
Select one:
a. In mediation, parties are bound by decisions of the mediator.
b. In mediation, the process is adversarial.
c. In mediation, the process is slow and complex.
d. In mediation, a neutral third party is involved.
Term
While a plaintiff alleging negligence against a company may prove the company had a duty, the company breached its duty, and the plaintiff suffered legally recognizable injuries, the plaintiff would still have to prove which of the following?
Select one:
a. The company committed the breach on purpose. b. The company was strictly liable for its breach. c. The company had no defenses to its breach. d. The company was the cause of the injuries.
Definition
While a plaintiff alleging negligence against a company may prove the company had a duty, the company breached its duty, and the plaintiff suffered legally recognizable injuries, the plaintiff would still have to prove which of the following?
Select one:
a. The company committed the breach on purpose.
b. The company was strictly liable for its breach.
c. The company had no defenses to its breach.
d. The company was the cause of the injuries.
Term
Which of the following is NOT a tort?
Select one:
a. A painter agrees to paint a house, takes the money, but does not paint the house. b. A man picks up a bat and swings it at another man he believes called him a name. c. Explosives stored on a company’s premises ignite, destroying a neighboring building. d. A man driving his car is changing the song on his iPhone when he hits a pedestrian.
Definition
Which of the following is NOT a tort?
Select one:
a. A painter agrees to paint a house, takes the money, but does not paint the house.
b. A man picks up a bat and swings it at another man he believes called him a name.
c. Explosives stored on a company’s premises ignite, destroying a neighboring building.
d. A man driving his car is changing the song on his iPhone when he hits a pedestrian.
Term
All of the following situations may result in a strict liability tort EXCEPT:
Select one:
a. A car driven by someone speeding excessively causes an accident. b. A neighbor’s pet tiger escapes and mauls your child. c. A truck carrying nuclear waste crashes when the driver falls asleep. d. A car with a faulty accelerator causes an accident.
Definition
All of the following situations may result in a strict liability tort EXCEPT:
Select one:
[image]
Term
Yolanda offers to sell her laptop computer to Zoe for $200; Zoe agrees to pay Yolanda $200 for the laptop; the next day Zoe gives Yolanda $150 and a $50 gift card to a local store in payment. Is Zoe discharged from the contract?
Select one:
a. Probably not, because in this circumstance strict compliance would be reasonable. b. Probably, because in this circumstance substantial compliance would be reasonable. c. Probably not, because Yolanda doesn’t like the store that the gift card is from. d. Probably, because Yolanda has gotten the value she bargained for.
Definition
Yolanda offers to sell her laptop computer to Zoe for $200; Zoe agrees to pay Yolanda $200 for the laptop; the next day Zoe gives Yolanda $150 and a $50 gift card to a local store in payment. Is Zoe discharged from the contract?
Select one:
a. Probably not, because in this circumstance strict compliance would be reasonable.
b. Probably, because in this circumstance substantial compliance would be reasonable.
c. Probably not, because Yolanda doesn’t like the store that the gift card is from.
d. Probably, because Yolanda has gotten the value she bargained for.
Term
Fill in the blank. In contract law, an assignment is the transfer of contract _______________ to a third party.
Select one:
a. Consideration b. Duties c. Rights d. Property
Definition
Fill in the blank. In contract law, an assignment is the transfer of contract _______________ to a third party.
Select one:
a. Consideration
b. Duties
c. Rights
d. Property
Term
Fill in the blank. If I offer to sell you my car for $6,000 and you say that you will buy it so long as your spouse likes it, this is an example of _______________.
Select one:
a. A bilateral contract b. An illusory contract c. A unilateral contract d. The mirror image rule
Definition
Fill in the blank. If I offer to sell you my car for $6,000 and you say that you will buy it so long as your spouse likes it, this is an example of _______________.
Select one:
a. A bilateral contract
b. An illusory contract
c. A unilateral contract
d. The mirror image rule
Term
Which of the following lists the required elements of a valid common law contract?
Select one:
a. Offer and acceptance, consideration, capacity, contract in writing b. Offer and acceptance, consideration, capacity, legal purpose c. Offer and acceptance, exchange of money, capacity, legal purpose d. Offer and acceptance, exchange of promises, capacity, legal purpose
Definition
Which of the following lists the required elements of a valid common law contract?
Select one:
[image]
Term
Essential elements of a contract include all of the following EXCEPT:
Select one:
a. Consideration. b. Must be in writing. c. Offer and acceptance. d. Legal capacity.
Definition
Essential elements of a contract include all of the following EXCEPT:
Select one:
[image]
Term
Your neighbor orders propane gas for his house; the delivery vehicle, however, comes to your house; you realize you need propane, so you allow the driver to fill your tank. When the bill comes, you refuse to pay it. Are you required to pay it?
Select one:
a. No, because you never made a contract with the propane supplier. b. No, because you can raise the defense of mistake. c. Yes, a court will interpret that you did make a contract with the propane supplier. d. Yes, because under the doctrine of quasi-contract, you cannot be unjustly enriched.
Definition
Your neighbor orders propane gas for his house; the delivery vehicle, however, comes to your house; you realize you need propane, so you allow the driver to fill your tank. When the bill comes, you refuse to pay it. Are you required to pay it?
Select one:
[image]
Term
The Statute of Frauds applies in all of the following situations, EXCEPT:
Select one:
a. Contracts for the provision of personal services. b. Contracts for goods of $500 or more.Incorrect c. Contracts for sale of real property. d. Contracts that cannot be completed within one year.
Definition
The Statute of Frauds applies in all of the following situations, EXCEPT:
Select one:
Term
Fill in the blank. Service contracts generally require _____________ performance in order for the parties to be discharged from the contract.
Select one:
a. Substantial b. Complete c. Full d. Strict
Definition
Fill in the blank. Service contracts generally require _____________ performance in order for the parties to be discharged from the contract.
Select one:
[image]
Term
Which of the following is an example of a bilateral contract?
Select one:
a. Adele offers to sell her cell phone to Boris for $25; Boris says he will pay Adele $25 for her cell phone next Saturday. b. Adele offers to sell her cell phone to Boris for $25; Boris pays Adele $25 and Adele says she will give Boris the cell phone next Saturday. c. Adele says to Boris and her other friends, “If someone gave me a dollar, I’d give them my cell phone;” Boris hands her a dollar. d. Adele says to Boris and her other friends, “I’d like to sell my cell phone;” Boris says he’ll give Adele a dollar; Adele says she’ll give the cell phone.
Definition
Which of the following is an example of a bilateral contract?
Select one:
[image]
Term
All of the following are examples of real property EXCEPT:
Select one:
a. A house. b. The lamp attached to the outside of a house. c. The potted plant sitting on the front step of a house Correct d. The railing running up the steps in front of a house.
Definition
All of the following are examples of real property EXCEPT:
Select one:
[image]
Term
Rhonda finds a beautiful diamond ring. She can claim ownership of the ring under which condition?
Select one:
a. The ring has been lost. b. The ring has been abandoned. c. The ring has been mislaid. d. The owner does not realize she left the ring behind.
Definition
Rhonda finds a beautiful diamond ring. She can claim ownership of the ring under which condition?
Select one:
[image]
Term
The Lanham Act excludes all of the following from being trademarked in the United States EXCEPT:
Select one:
a. Trademarks identical to a trademark already granted. b. Sounds. c. The United States flag. d. Anything immoral.
Definition
The Lanham Act excludes all of the following from being trademarked in the United States EXCEPT:
Select one:
[image]
Term
In the United States, copyright protection lasts for how any years after the death of the author?
Select one:
a. 100 years b. 70 years c. 50 years d. 25 years
Definition
In the United States, copyright protection lasts for how any years after the death of the author?
Select one:
a. 100 years
b. 70 years
c. 50 years
d. 25 years
Term
“Widget” is a trademark for a product made by “The Widget Company.” Other companies make products very similar to the “Widget.” Soon, writers, journalists, and the public begin referring to all such similar products as “widgets.” What is the most likely result?
Select one:
a. The Widget Company does not have to take any action, because its trademark is registered. b. The government will act to ensure that the term “Widget” is used according to the trademark law. c. The other companies will sue The Widget Company for trademark infringement. d. The Widget Company will lose the trademark unless it takes active steps to protect it.
Definition
“Widget” is a trademark for a product made by “The Widget Company.” Other companies make products very similar to the “Widget.” Soon, writers, journalists, and the public begin referring to all such similar products as “widgets.” What is the most likely result?
Select one:
[image]
Term
The Age Discrimination in Employment Act of 1967 does all of the following EXCEPT:
Select one:
a. It protects workers of any age from age discrimination. b. It protects workers over the age of 40 from age discrimination. c. It allows employers to discriminate against older workers if there is a bona fide occupational qualification. d. It applies to any employer with more than 20 workers.
Definition
The Age Discrimination in Employment Act of 1967 does all of the following EXCEPT:
Select one:
[image]
Term
Title VII of the Civil Rights Act of 1964 protects employees against discrimination based on all of the following EXCEPT:
Select one:
a. Race. b. Color. c. Religion. d. Age.
Definition
Title VII of the Civil Rights Act of 1964 protects employees against discrimination based on all of the following EXCEPT:
Select one:
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Term
The regulation of relations between employers and labor organizations in the United States is governed by which act?
Select one:
a. The National Labor Relations Act b. The Employment at Will Act c. The Sherman Act d. Title VII. Act
Definition
The regulation of relations between employers and labor organizations in the United States is governed by which act?
Select one:
[image]
Term
Fill in the blank. In the United States, anti-discrimination laws modify the _______________ doctrine, which holds that an employer can generally terminate an employee for any reason.
Select one:
a. At-will b. Collective bargaining c. Prevailing wage d. Wrongful termination
Definition
Fill in the blank. In the United States, anti-discrimination laws modify the _______________ doctrine, which holds that an employer can generally terminate an employee for any reason.
Select one:
[image]
Term
The Economic Espionage Act is a federal statute in the United States that criminalizes which of the following?
Select one:
a. Fraud b. Stealing government financial secrets c. Theft of intellectual property d. Theft of trade secrets
Definition
The Economic Espionage Act is a federal statute in the United States that criminalizes which of the following?
Select one:
[image]
Term
Fill in the blank. The use of deception to acquire money or property is the definition of _____________.
Select one:
a. A Ponzi scheme b. Fraud c. Embezzlement d. Misappropriation
Definition
Fill in the blank. The use of deception to acquire money or property is the definition of _____________.
Select one:
[image]
Term
If a prospective business owner told you he wanted to organize his business in a way that would result in no registration and allow him to exercise the fullest control, you would likely advise him to choose which of the following business entity types?
Select one:
a. Limited liability company b. Corporation c. Limited partnership d. Sole proprietorship
Definition
If a prospective business owner told you he wanted to organize his business in a way that would result in no registration and allow him to exercise the fullest control, you would likely advise him to choose which of the following business entity types?
Select one:
[image]
Term
Fill in the blank. Every owner in a ________________ is jointly and severally liable for the debts and obligations of the organization . Select one:
a. Limited liability company b. Partnership c. Limited partnership d. Corporation
Definition
Fill in the blank. Every owner in a ________________ is jointly and severally liable for the debts and obligations of the organization.
Select one:
[image]
Term
Which of the following is a major disadvantage of a corporation?
Select one:
a. Joint and several liability b. Double taxation c. Separate legal existence d. Limited duration of existence
Definition
Which of the following is a major disadvantage of a corporation?
Select one:
[image]
Term
Which of the following identifies one aspect of general partnerships that may be advantageous?
Select one:
a. Limited liability b. Separate legal existence c. An extensive body of flexible law d. May be formed and dissolved easily
Definition
Which of the following identifies one aspect of general partnerships that may be advantageous?
Select one:
[image]
Term
Advantages of a limited liability company involve all of the following EXCEPT:
Select one:
a. It is taxed like a partnership. b. It may be created with only one member. c. Members can participate in management. d. It is a good choice for going public.
Definition
Advantages of a limited liability company involve all of the following EXCEPT:
Select one:
[image]
Term
Business entities that have limited liability include all of the following EXCEPT:
a. Sole proprietorships. b. Corporations. c. Limited partnerships. d. Limited liability companies.
Definition
Business entities that have limited liability include all of the following EXCEPT:
Select one:
[image]
Term
ill in the blank. In general, the ________________ requires that securities offered or sold in interstate commerce be registered with the United States Securities and Exchange Commission.
Select one:
a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Investment Advisers Act of 1940
Definition
ill in the blank. In general, the ________________ requires that securities offered or sold in interstate commerce be registered with the United States Securities and Exchange Commission.
Select one:
[image]
Term
Federal antitrust law is enforced primarily by which of the following agencies?
Select one:
a. Securities and Exchange Commission b. Public Company Accounting Oversight Board c. United States Patent Office d. Federal Trade Commission
Definition
Federal antitrust law is enforced primarily by which of the following agencies?
Select one:
[image]
Term
Which of the following statements about the Sherman Act is true?
Select one:
a. It regulates the sale of securities. b. It promotes competition in trade and commerce. c. It controls the sale of mutual funds. d. It created the Public Company Accounting Oversight Board.
Definition
Which of the following statements about the Sherman Act is true?
Select one:
[image]
Term
The description, “Right and wrong are determined solely by each person,” best describes which of the following metaethical theory?
Select one:
a. Utilitarianism b. Individual Relativism c. Nihilism d. Cultural Relativism
Definition
The description, “Right and wrong are determined solely by each person,” best describes which of the following metaethical theory?
Select one:
[image]
Term
The description, “The virtuous person aims at the mean, which is the virtue, that lies between two extremes, which are vices,” best describes which of the following ethical theory?
Select one:
a. Immanuel Kant’s ethical theory b. Aristotle’s ethical theory c. Nihilism d. Utilitarianism
Definition
The description, “The virtuous person aims at the mean, which is the virtue, that lies between two extremes, which are vices,” best describes which of the following ethical theory?
Select one:
[image]
Term
The description, “There is no such thing as right or wrong,” best describes which of the following metaethical theory?
Select one:
a. Immanuel Kant’s ethical theory b. Aristotle’s ethical theory c. Nihilism d. Utilitarianism
Definition
The description, “There is no such thing as right or wrong,” best describes which of the following metaethical theory?
Select one:
[image]
Term
The description, “Never use someone simply as a means, and only act on maxims that you can universalize for everyone,” best describes which of the following ethical theory?
Select one:
a. Immanuel Kant’s ethical theory b. Aristotle’s ethical theory c. Nihilism d. Utilitarianism
Definition
The description, “Never use someone simply as a means, and only act on maxims that you can universalize for everyone,” best describes which of the following ethical theory?
Select one:
[image]
Term
Classical ways to reason about ethics include all of the following EXCEPT:
Select one:
a. Promoting the greatest good. b. Thinking about the rights and duties of various parties. c. Relying on personal views of right and wrong. d. Promoting fairness.
Definition
Classical ways to reason about ethics include all of the following EXCEPT:
Select one:
[image]
Term
When business people speak of ethics, they are generally speaking about all of the following EXCEPT:
Select one:
a. Avoiding breaking the criminal laws. b. Avoiding actions that could result in criminal liability. c. Avoiding getting caught doing something wrong. d. Avoiding actions that could are bad for the company image.
Definition
When business people speak of ethics, they are generally speaking about all of the following EXCEPT:
Select one:
[image]
Term
The description, “Right and wrong are determined solely by one’s culture,” best describes which of the following metaethical theory?
Select one:
a. Utilitarianism b. Individual Relativism c. Nihilism d. Cultural Relativism
Definition
The description, “Right and wrong are determined solely by one’s culture,” best describes which of the following metaethical theory?
Select one:
[image]
Term
Appeals courts have jurisdiction to do which of the following?
Select one:
a. Decide questions of fact b. Decide questions of law c. Conduct new trials d. Recall witnesses and call new witnesses
Definition
Appeals courts have jurisdiction to do which of the following?
Select one:
Term
Which of the following statements about the United States Constitution is true?
Select one:
a. The U.S. Constitution is the supreme law of the land. b. The U.S. Constitution consists of statutes passed by Congress. c. The U.S. Constitution can be overruled by the Supreme Court. d. The U.S. Constitution can be overruled by state laws.
Definition
Which of the following statements about the United States Constitution is true?
Select one:
Term
For a bill to become a federal law in the United States, which of the following must occur?
Select one:
a. It must be introduced by the president, passed by both houses of Congress, and approved by the Supreme Court. b. It must be passed by both houses of Congress and either be signed by the president or Congress must override the president’s veto. c. It must be passed by both houses of Congress and approved by a majority of the states’ legislatures. d. It must be passed by both houses of Congress, approved by the Supreme Court, and approved by a majority of the states’ legislatures.
Definition
For a bill to become a federal law in the United States, which of the following must occur?
Select one:
a. It must be introduced by the president, passed by both houses of Congress, and approved by the Supreme Court.
b. It must be passed by both houses of Congress and either be signed by the president or Congress must override the president’s veto.
c. It must be passed by both houses of Congress and approved by a majority of the states’ legislatures.
d. It must be passed by both houses of Congress, approved by the Supreme Court, and approved by a majority of the states’ legislatures.
Term
Which of the following statements about members of the Supreme Court of the United States is true?
Select one:
a. They serve for a four-year term. b. They may serve no longer than the age of 65. c. They have life tenure. d. They serve as long as the president desires.
Definition
Which of the following statements about members of the Supreme Court of the United States is true?
Select one:
Term
What is the common law?
Select one:
a. Law created by Congress and state legislatures b. Law that creates the structure of the government in the United States c. Law created by administrative agencies d. Judge-made law in Great Britain and its former colonies
Definition
What is the common law?
Select one:
Term
ADR is often considered attractive to parties of a dispute, in comparison to litigation, for all of the following reasons EXCEPT:
Select one:
a. The process of ADR is not public. b. ADR generally takes less time than litigation. c. ADR generally costs less than litigation. d. The decisions reached in ADR are binding.
Definition
ADR is often considered attractive to parties of a dispute, in comparison to litigation, for all of the following reasons EXCEPT:
Select one:
Term
Fill in the blank. As opposed to litigation, _____________ is the form of ADR that provides the most control over the process to the parties.
Select one:
a. Arbitration b. Mediation c. Negotiation d. Facilitation
Definition
Fill in the blank. As opposed to litigation, _____________ is the form of ADR that provides the most control over the process to the parties.
Select one:
a. Arbitration
b. Mediation
c. Negotiation
d. Facilitation
Term
Jose is from the state of Florida. While driving in Montana, his car is hit by a car driven by Kareem, who is from New York. Jose hears that the courts in Texas are generally favorable to plaintiffs. He sues Kareem in Texas. The court would likely reject the case based on which of the following?
Select one:
a. The case not being ripe b. The case being moot c. Lack of standing d. Lack of personal jurisdiction
Definition
Jose is from the state of Florida. While driving in Montana, his car is hit by a car driven by Kareem, who is from New York. Jose hears that the courts in Texas are generally favorable to plaintiffs. He sues Kareem in Texas. The court would likely reject the case based on which of the following?
Select one:
Term
ABC Company, a corporation registered in the state California, goes to court in California and asks the court to decide whether it would be a violation for it to use a trademark very similar to one held by ACC Company. The court would likely reject the case based on which of the following
Select one:
a. Lack of standing b. Lack of personal jurisdiction c. The long-arm statute d. The case being ripe
Definition
ABC Company, a corporation registered in the state California, goes to court in California and asks the court to decide whether it would be a violation for it to use a trademark very similar to one held by ACC Company. The court would likely reject the case based on which of the following
Select one:
Term
Benefits of arbitration include all of the following EXCEPT:
Select one:
a. It is usually less expensive than litigation. b. It is usually faster than litigation. c. The decision of the arbitrator is never binding. d. Discovery tends to be much simpler.
Definition
Benefits of arbitration include all of the following EXCEPT:
Select one:
Term
To prove assault, a plaintiff must show all of the following, EXCEPT:
Select one:
a. The defendant’s action caused actual fear for the plaintiff. b. The defendant’s act was intentional. c. The defendant’s action was unexcused. d. The defendant’s action caused reasonable apprehension.
Definition
To prove assault, a plaintiff must show all of the following, EXCEPT:
Select one:
Term
In professional malpractice cases, the plaintiff must prove which of the following?
Select one:
a. That the defendant intended to cause damage to the plaintiff b. That the damages are covered by malpractice insurance sufficient to pay the plaintiff c. That the defendant did not act as a reasonable person in his or her profession would d. That the defendant did not act with the ordinary care of a reasonable person
Definition
In professional malpractice cases, the plaintiff must prove which of the following?
Select one:
Term
A tort may be defined as which of the following?
Select one:
a. A civil wrong, including breach of contract b. A civil wrong, other than breach of contract c. Civil and criminal wrongs generally d. A criminal wrong that is also punishable civilly
Definition
A tort may be defined as which of the following?
Select one:
Term
Fill in the blank. In a unilateral contract, the accepting party can only accept with _____________.
Select one:
a. A promise b. An exchange of consideration c. Money d. An action
Definition
Fill in the blank. In a unilateral contract, the accepting party can only accept with _____________.
Select one:
Term
For which of the following scenarios would the remedy of specific performance be available?
Select one:
a. A firm promises delivery of 50,000 widgets and only delivers 25,000 because of a shortage. b. A painting contractor promises to paint a business’s premises but then attempts to change the terms by increasing the price. c. A company attempts to buy a rare antique connected with the history of the company; the seller, after agreeing to the sale, now does not want to sell. d. A store advertises leather jackets for sale at $10.99 each; when a buyer shows up, he is told it was a mistake, and the real price is $109.99.
Definition
For which of the following scenarios would the remedy of specific performance be available?
Select one:
Term
What is the most typical remedy available for a breach of contract?
Select one:
a. Specific performance b. Monetary damages c. Consequential damages d. Quantum meruit
Definition
What is the most typical remedy available for a breach of contract?
Select one:
a. Specific performance
b. Monetary damages
c. Consequential damages
d. Quantum meruit
Term
Fill in the blank. All common law contracts must contain valid ___________, meaning there must be a bargained-for exchange of promises or acts, and each party must incur a new legal detriment or obligation.
Select one:
a. Offers b. Acceptance c. Capacity d. Consideration
Definition
Fill in the blank. All common law contracts must contain valid ___________, meaning there must be a bargained-for exchange of promises or acts, and each party must incur a new legal detriment or obligation.
Select one:
Term
Which of the following scenarios can be characterized as a unilateral contract?
Select one:
a. Anna offers to buy Barbara’s car for $6000, and Barbara agrees to the deal. b. Anna asks Barbara to care for her garden; for this, Anna will pay Barbara $25 per hour; Barbara accepts. c. Anna offers a reward of $500 for the return of her lost dog; Barbara returns Anna’s dog to her. d. Anna tells Barbara she will give her $500, if Barbara helps look for her dog; Barbara accepts and begins to look for the dog.
Definition
Which of the following scenarios can be characterized as a unilateral contract?
Select one:
a. Anna offers to buy Barbara’s car for $6000, and Barbara agrees to the deal.
b. Anna asks Barbara to care for her garden; for this, Anna will pay Barbara $25 per hour; Barbara accepts.
c. Anna offers a reward of $500 for the return of her lost dog; Barbara returns Anna’s dog to her.
d. Anna tells Barbara she will give her $500, if Barbara helps look for her dog; Barbara accepts and begins to look for the dog.
Term
Which of the following is considered personal property?
Select one:
a. The bricks in a house that has been constructed b. A chandelier hanging from the ceiling of a house c. A favorite tree in the back yard of a house d. The bricks for sale at a building supply company.
Definition
Which of the following is considered personal property?
Select one:
Term
Alphonse wants to leave his house to his son upon his death. But he does not like or trust his son’s wife and does not want her to own the house should his son die before her. What interest in real property should he give his son so that his son can have the house while he is alive and ensure his son’s wife does not gain ownership of the house upon his son’s death?
Select one:
a. Fee simple absolute b. Fee simple defeasible c. Life estate d. Tenancy in common
Definition
Alphonse wants to leave his house to his son upon his death. But he does not like or trust his son’s wife and does not want her to own the house should his son die before her. What interest in real property should he give his son so that his son can have the house while he is alive and ensure his son’s wife does not gain ownership of the house upon his son’s death?
Select one:
a. Fee simple absolute
b. Fee simple defeasible
c. Life estate
d. Tenancy in common
Term
Which of the following CANNOT be trademarked?
Select one:
a. Words b. Colors c. A container shape d. Government symbols
Definition
Which of the following CANNOT be trademarked?
Select one:
Term
In the United States, trade secrets are protected by which of the following?
Select one:
a. Common law b. Federal law c. State law d. Administrative law
Definition
In the United States, trade secrets are protected by which of the following?
Select one:
a. Common law
b. Federal law
c. State law
d. Administrative law
Term
To be patentable, an invention must be all of the following EXCEPT:
Select one:
a. New. b. Useful. c. Easy to use. d. Nonobvious.
Definition
To be patentable, an invention must be all of the following EXCEPT:
Select one:
Term
Fill in the blank. If an employer wishes to ensure that an employee does not leave in the future to engage in the same business, the employer is likely to enter into a contract with a(n) _____________.
Select one:
a. At-will clause b. Covenant not to compete c. Assignment of rights d. Strict performance clause
Definition
Fill in the blank. If an employer wishes to ensure that an employee does not leave in the future to engage in the same business, the employer is likely to enter into a contract with a(n) _____________.
Select one:
Term
The Equal Pay Act of 1963 seeks to do which of the following?
Select one:
a. Eliminate the wage gap between African Americans and Caucasians b. Eliminate the wage gap between women and men c. Eliminate the wage gap between upper and middle classes d. Eliminate the wage gap between middle and lower classes
Definition
The Equal Pay Act of 1963 seeks to do which of the following?
Select one:
Term
Under the National Labor Relations Act, employees have all of the following rights EXCEPT:
Select one:
a. The right to self-organization. b. The right to form, join, or assist labor organizations. c. The right to compel other employees to engage in collective action. d. The right to bargain collectively through representatives of their own choosing.
Definition
Under the National Labor Relations Act, employees have all of the following rights EXCEPT:
Select one:
Term
A victim of racial discrimination in the United States is most likely to file an action under what law?
Select one:
a. The 1866 Civil Rights Act b. Title VII of the Civil Rights Act of 1964 c. The Fourteenth Amendment to the United States Constitution d. Both A and B
Definition
A victim of racial discrimination in the United States is most likely to file an action under what law?
Select one:
Term
In the United States, which of the following statements best describes the Sherman Act?
Select one:
a. The Sherman Act allows the federal government to regulate activities that restrain competition and trade. b. The Sherman Act allows the federal government to regulate the trade of corporation shares on stock exchanges. c. The Sherman Act establishes stronger reporting requirements for boards of public corporations and the managers and accountants who work for them. d. The Sherman Act establishes the United States Securities and Exchange Commission.
Definition
In the United States, which of the following statements best describes the Sherman Act?
Select one:
Term
Which of the following identifies one aspect of general partnerships that may be advantageous?
Select one:
a. Limited liability b. Separate legal existence c. An extensive body of flexible law d. May be formed and dissolved easily
Definition
Which of the following identifies one aspect of general partnerships that may be advantageous?
Select one:
Term
If a prospective business owner told you he wanted to organize his business in a way that would result in no registration and allow him to exercise the fullest control, you would likely advise him to choose which of the following business entity types?
Select one:
a. Limited liability company b. Corporation c. Limited partnership d. Sole proprietorship
Definition
If a prospective business owner told you he wanted to organize his business in a way that would result in no registration and allow him to exercise the fullest control, you would likely advise him to choose which of the following business entity types?
Select one:
Term
Fill in the blank. Every owner in a ________________ is jointly and severally liable for the debts and obligations of the organization.
Select one:
a. Limited liability company b. Partnership c. Limited partnership d. Corporation
Definition
Fill in the blank. Every owner in a ________________ is jointly and severally liable for the debts and obligations of the organization.
Select one:
Term
Business entities that have limited liability include all of the following EXCEPT:
Select one:
a. Sole proprietorships. b. Corporations. c. Limited partnerships. d. Limited liability companies.
Definition
Business entities that have limited liability include all of the following EXCEPT:
Select one:
Term
Which of the following is a major disadvantage of a corporation?
Select one:
a. Joint and several liability b. Double taxation c. Separate legal existence d. Limited duration of existence
Definition
Which of the following is a major disadvantage of a corporation?
Select one:
Term
Federal antitrust law is enforced primarily by which of the following agencies?
Select one:
a. Securities and Exchange Commission b. Public Company Accounting Oversight Board c. United States Patent Office d. Federal Trade Commission
Definition
Federal antitrust law is enforced primarily by which of the following agencies?
Select one:
Term
Fill in the blank. In general, the ________________ requires that securities offered or sold in interstate commerce be registered with the United States Securities and Exchange Commission.
Select one : a. Securities Act of 1933 b. Securities Exchange Act of 1934 c. Investment Company Act of 1940 d. Investment Advisers Act of 1940
Definition
Fill in the blank. In general, the ________________ requires that securities offered or sold in interstate commerce be registered with the United States Securities and Exchange Commission.
Select one:
Term
Milton Friedman argues that the responsibilities of a corporate executive include all of the following EXCEPT:
Select one:
a. A responsibility to the executive’s employers. b. Promoting desirable social ends. c. Conducting business according to the owners’ wishes. d. Making as much money as possible while following basic rules of society.
Definition
Milton Friedman argues that the responsibilities of a corporate executive include all of the following EXCEPT:
