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This Tutorial contains 2 Set of Final Exam Part 2 (All Questions Listed Below)
BUS 407 Final Exam Part 2
Question 1 Which kind of analysis compares the monetary cost of training with the intangible or nonmonetary results?
Question 2 According to the text, which of the following groups would be interested in “process evaluation” data?
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1) The form of alternative dispute resolution wherein the parties hire someone to review the evidence and make a decision that is binding upon the
parties is called
A. negotiation
B. settlement conference
C. conciliation
D. arbitration
2) The Federal Trade Commission is an example of
A. a federal agency created by the federal government
B. a corporation subsidized by the federal government
C. a branch of the U.S. Supreme Court
D. a temporary commission created by executive order that has become permanent
This document provides answers to 30 multiple choice questions covering various topics in business law, including alternative dispute resolution, federal agencies, jurisdiction, contracts, torts, employment law, and intellectual property. The questions assess understanding of key concepts and their appropriate applications.
This document provides a study guide for the BUS 415 final exam, including two sets of multiple choice questions and answers. It directs students to a website for additional study materials and classes. The questions cover topics like stare decisis, alternative dispute resolution, corporations as legal persons, the relationship between law and ethics, and other business law concepts.
This document contains 30 multiple choice questions about various legal topics including: common law legal systems, types of business entities (corporations, LLCs, partnerships), agency law, alternative dispute resolution, corporate governance duties, contracts, torts, employment law, property law, intellectual property, and securities law regulations like Sarbanes-Oxley. The questions are from a final exam for a law course and test understanding of key concepts and ability to apply legal rules to hypothetical scenarios.
This document contains a 30 question multiple choice exam on business law topics. The exam covers common law systems, types of business organizations (corporations, LLCs, partnerships), agency law, alternative dispute resolution, corporate governance issues (duties of care and loyalty, business judgment rule), contracts, employment law, securities law (Sarbanes-Oxley Act), and property law. For each question there are 4 possible answer choices and some include a brief rationale for the correct answer.
Law 531 final exam mcq`s correct answers 100%Austing_3
This document provides 25 multiple choice questions that appear to be from a law school final exam on various topics of law. It asks the reader to choose the best answer for each question. At the end, it requests that the reader leave positive feedback if they found the questions helpful in preparing for their exam.
Dodson, who was 16 at the time, purchased a truck from Shrader for $4900. In January 1988, the truck's engine broke down. Dodson sued Shrader to get his money back. Shrader argued that Dodson damaged the truck through his actions. As a minor, Dodson could disaffirm the contract but was still responsible for returning or compensating Shrader for any reduction in value or damage to the truck during Dodson's possession of it. The case centered around balancing Dodson's right to disaffirm as a minor with Shrader's right to be returned to the original status quo.
This document discusses the concept of consideration in contracts. It defines consideration as something of legal value that is bargained for and given in exchange for an act or promise. Consideration must flow from both parties to a contract and can take several forms, like a promise to do or not do something. The document outlines several rules for consideration, like that it must move at the desire of the promisor. It also discusses exceptions to the rule that without consideration there is no contract, like natural love and affection in some cases. Privity of contract, or strangers to a contract, are also addressed, along with exceptions where a third party can sue.
For more course tutorials visit
uophelp.com is now newtonhelp.com
www.newtonhelp.com
1) The form of alternative dispute resolution wherein the parties hire someone to review the evidence and make a decision that is binding upon the
parties is called
A. negotiation
B. settlement conference
C. conciliation
D. arbitration
2) The Federal Trade Commission is an example of
A. a federal agency created by the federal government
B. a corporation subsidized by the federal government
C. a branch of the U.S. Supreme Court
D. a temporary commission created by executive order that has become permanent
This document provides answers to 30 multiple choice questions covering various topics in business law, including alternative dispute resolution, federal agencies, jurisdiction, contracts, torts, employment law, and intellectual property. The questions assess understanding of key concepts and their appropriate applications.
This document provides a study guide for the BUS 415 final exam, including two sets of multiple choice questions and answers. It directs students to a website for additional study materials and classes. The questions cover topics like stare decisis, alternative dispute resolution, corporations as legal persons, the relationship between law and ethics, and other business law concepts.
This document contains 30 multiple choice questions about various legal topics including: common law legal systems, types of business entities (corporations, LLCs, partnerships), agency law, alternative dispute resolution, corporate governance duties, contracts, torts, employment law, property law, intellectual property, and securities law regulations like Sarbanes-Oxley. The questions are from a final exam for a law course and test understanding of key concepts and ability to apply legal rules to hypothetical scenarios.
This document contains a 30 question multiple choice exam on business law topics. The exam covers common law systems, types of business organizations (corporations, LLCs, partnerships), agency law, alternative dispute resolution, corporate governance issues (duties of care and loyalty, business judgment rule), contracts, employment law, securities law (Sarbanes-Oxley Act), and property law. For each question there are 4 possible answer choices and some include a brief rationale for the correct answer.
Law 531 final exam mcq`s correct answers 100%Austing_3
This document provides 25 multiple choice questions that appear to be from a law school final exam on various topics of law. It asks the reader to choose the best answer for each question. At the end, it requests that the reader leave positive feedback if they found the questions helpful in preparing for their exam.
Dodson, who was 16 at the time, purchased a truck from Shrader for $4900. In January 1988, the truck's engine broke down. Dodson sued Shrader to get his money back. Shrader argued that Dodson damaged the truck through his actions. As a minor, Dodson could disaffirm the contract but was still responsible for returning or compensating Shrader for any reduction in value or damage to the truck during Dodson's possession of it. The case centered around balancing Dodson's right to disaffirm as a minor with Shrader's right to be returned to the original status quo.
This document discusses the concept of consideration in contracts. It defines consideration as something of legal value that is bargained for and given in exchange for an act or promise. Consideration must flow from both parties to a contract and can take several forms, like a promise to do or not do something. The document outlines several rules for consideration, like that it must move at the desire of the promisor. It also discusses exceptions to the rule that without consideration there is no contract, like natural love and affection in some cases. Privity of contract, or strangers to a contract, are also addressed, along with exceptions where a third party can sue.
1. A valid contract meets all the essential elements of a contract including agreement, consideration, contractual capacity, and lawful object.
2. A void contract has no legal effect and cannot be enforced as it fails to meet the essential elements or the terms are illegal.
3. A voidable contract can be declared void or upheld at the option of one of the parties, such as a contract made by a minor, and is otherwise valid until avoided.
The document discusses the concept of consideration in contract law. It defines consideration as something of value exchanged between parties in a contractual agreement. Consideration must be bargained for, such as an act, forbearance from an act, or a promise. There are exceptions where consideration is not required, such as natural love and affection between parties or an agreement to pay a time-barred debt. Consideration is essential to forming a valid, enforceable contract and establishes the mutual obligations between parties.
This document defines consideration and outlines its essential rules and types under contract law. It states that consideration is something of value that each party provides to make a contract enforceable. The rules are that consideration must move at the desire of the promisor, can come from the promisor or third party, and can be past, present or future. There are also exceptions to the general rule that an agreement without consideration is void, such as agreements on account of natural love/affection or to compensate for past voluntary services. The types of consideration are past (valid in India but not England), present, and future consideration.
The document discusses the concept of consideration in contracts. It defines consideration as something bargained for and received by the promisor from the promisee in exchange for the promise. Consideration can be in the form of an act, abstinence from an act, or a return promise. It must be something of value in the eyes of law and move at the desire of the promisor. Consideration can be past, present or future. There are exceptions to the privity rule that allow third parties to enforce contracts under certain conditions like trusts or intended benefits.
The document defines consideration under Indian contract law as something done or promised to be done in exchange for a promise. Consideration must be real, lawful, and something the promisor is not already obligated to do. While consideration is usually required, there are some exceptions like natural love and affection between family, completed gifts, and promises to pay time-barred debts. The doctrine of promissory estoppel also allows enforcement of some promises without consideration if someone relied on the promise.
Estoppel can prevent a party from asserting their strict legal rights (acting as a shield), but it cannot be used to create new legal rights or claims that did not previously exist (acting as a sword).
This document discusses key elements of contract formation under Malaysian law, including offer, acceptance, consideration, intention to create a legal relationship, legal capacity, and free consent. It also discusses circumstances that can invalidate a contract such as misrepresentation, undue influence, and mistake. The document analyzes a hypothetical case regarding a minor entering into a contract and concludes the contract would be void due to lack of legal capacity. Relevant cases are also discussed.
The document discusses the key elements of consideration according to Indian contract law:
1) Consideration must move at the desire of the promisor. It must be done at their request.
2) Consideration can move from either the promisee or any other person, including a stranger to the contract.
3) Consideration can be past (before the promise), present (at the time of promise), or future (after the promise).
This summarizes a business law case study involving an individual named Tom. Tom signed a two-year contract to be a plantation manager in Brunei from 2016 to 2018. He was offered a potential one-year extension. While in Brunei, Tom accessed bank accounts in both Australia and Brunei. Upon returning to Australia in 2018, Tom started his own accounting practice. The case study raises issues regarding Tom's tax obligations and residency status related to his overseas employment, rental income, and new business. It also provides rules under Australian taxation law regarding these issues including residency tests, reporting income sources, and business registration requirements.
This document defines consideration and outlines its key elements and functions in contract law. Consideration is something of value given in exchange for something received. It must be given by the promisee at the promisor's request. Consideration can be past, present or future acts. It must be real/possible, but does not need to be adequately valued. Exceptions to the consideration requirement include contracts of love, agency, voluntary services, donations, gifts, extensions of time limits, and time-barred debts. The document also defines bailment as the delivery of goods by one person to another for a purpose, and outlines the rights and duties of bailors and bailees.
"Consideration" (Chapter 7) - Business LawSandeep Sharma
The document discusses the rule that contracts require consideration to be valid and exceptions to this rule. It defines consideration as something of value exchanged between parties in a contract (quid pro quo). The main points are:
1) Consideration must be real, not illusory, and lawful. It need not be adequate in value.
2) Exceptions where contracts don't require consideration include natural love and affection between close relations, completed gifts, voluntary services, time-barred debts, contracts of agency, and gratuitous bailments.
3) Promises to charities are generally unenforceable due to lack of consideration, as neither party gains or suffers directly from the promise.
The document summarizes two legal cases from a Malaysian business law course. The first case discusses the will of Tan Soh Sim who died without a will. Her legal next-of-kin signed a document giving her estate to her four adopted children and second wife. The court found the document invalid as the adopted children were not in near relation to the next-of-kin according to Chinese custom. The second case discusses Ventaka Chinnaya Rau Garu vs. Venkataramaya but no details are provided. The document provides facts, issues, principles, decisions and commentary for the first case and references for a business law course assignment.
The document discusses the key principles of consideration under contract law in India according to the Indian Contract Act 1872. It defines consideration and outlines several important points regarding consideration:
1) Consideration must move at the desire of the promisor.
2) Consideration may move from the promisee or any other person.
3) Consideration can be past, present or future.
4) Consideration need not be adequate but must be real and of some value.
The document also discusses exceptions to the general rule that an agreement made without consideration is void, such as agreements made out of love and affection or to pay a time-barred debt.
The document summarizes key aspects of entertainment law related to contract formation and obligations. It discusses requirements for valid contracts such as offer/acceptance, consideration, and capacity. It also covers duration limits, bankruptcy implications, and obligations of performers/authors including creative control, breach terms, morals clauses, and non-competition agreements. Examples are provided of relevant court cases that address these entertainment law contract issues.
This document discusses legal rules regarding consideration in contracts. It states that consideration must move at the desire of the promisor, can move from the promisee or another party, and may be forbearance from legal action. Consideration can be past, present, or future. It does not need to be adequate and must be real rather than illusory. Consideration cannot involve preexisting obligations or be illegal, immoral, or against public policy.
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law since Con Edison received project funds and commenced an interpleader proceeding.
This document discusses the legal requirements for consideration in contracts. It defines consideration as mutuality of agreement where both parties gain or lose something of value. Consideration must be both valuable and move from the promisee. There are exceptions for acts done at the promisor's request or where equitable estoppel applies. The performance of an existing contractual or public duty is generally not valid consideration, though practical benefits may allow contract variation. Equitable estoppel can also prevent a party from going back on a promise if the other party relied on the promise to their detriment.
This document discusses different types of contracts including valid, voidable, void, unenforceable, bilateral, unilateral, express, implied, and executed contracts. It provides examples and definitions for each type. Key points include that a valid contract is enforceable by law, a voidable contract can be enforced by one party but not the other, and a void contract was initially valid but became invalid due to external reasons like a government ban. Bilateral contracts involve obligations from both parties while unilateral contracts involve an express promise from one party only.
. Consideration must move from the promisee or a third party at the desire of the promisor. It does not need to be adequate but must be real, valuable, and legal. The document outlines exceptions where a contract may be valid without consideration, such as written agreements registered under law made out of natural love and affection between close relations.
Running head TITLE 1TITLE 6TitleStudent Name.docxagnesdcarey33086
Running head: TITLE
1
TITLE
6
Title
Student Name
University Name
Title
1) When statutes are passed only after considerable study, debate and public input, this is an example of which function of the law?
A. Keeping the peace.
B. Shaping moral standards.
C. Maintaining the status quo.
D. Facilitating orderly change.
2) What was the U.S. Supreme Court’s reaction to a case where a business executive was found guilty of aiding and abetting in the bribery of an Internal Revenue Service Agent even though the Internal Revenue Service agent had been found not guilty of the bribery in a separate trial?
A. Because of the inconsistent outcomes, a third combined trial was ordered to reconcile the different outcomes.
B. This simply underscores the fact that there is always the possibility that different juries might reach different results in a given situation.
C. Because one of the defendants had been found guilty, then both should have been found guilty.
D. Because one of the defendants had been found not guilty, they both should have been found not guilty.
3) Which of the following is most consistent with the Natural Law School of jurisprudence?
A. The laws of man are secondary to the laws of nature, and thus the laws of nature take precedence whenever the laws of man are in conflict with the laws of nature.
B. By applying the rules of logic to specific cases, the logical, or natural, result will be obtained.
C. Law is based on moral and ethical principles of what is right, and it is the job of men and women, through study, to discover what these principles are.
D. The law is a reflection of society, thus the law must change naturally as society changes over time.
4) Which of the following statements is true regarding the relationship of law and ethics?
A. In some cases the law will require a higher standard of conduct than ethics, but never vice versa.
B. Depending on the circumstances, the law can require a higher, lower, or the same standard of conduct as ethics demands.
C. The legal requirements will almost always be the same as the ethical requirement because the law is based on the ethical standards.
D. In some cases ethics will require a higher standard of conduct than the law, but never vice versa.
5) Which of the following is correct with regard to the relationship between law and ethics?
A. Lawful conduct is always ethical conduct.
B. Although much of law is based on ethical standards, not all ethical standards have been enacted as law.
C. The rule of law and the golden rule of ethics demand the same response.
D. The law may not .permit something that would be ethically wrong.
6) Which of the following is not one of the Caux Round Table Principles for International Business?
A. Promotion of Multiculturalism.
B. Respect for the Environment.
C. Avoidance of Illicit Operations.
D. Support for Multilateral Trade.
7) In a civil case, which of the following is true about the order of the prese.
The document provides 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law. Some of the questions test knowledge of key features of common law systems, forms of business organizations, fiduciary duties of corporate directors and officers, and statutes like Sarbanes-Oxley. The questions are accompanied by 4 possible answer choices for each.
The document provides 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law. Some of the questions test knowledge of key features of common law systems, types of business entities and agency relationships, fiduciary duties of corporate directors and officers, and statutes like Sarbanes-Oxley. The questions are testing comprehension of legal concepts and ability to apply those concepts to hypothetical scenarios.
1. A valid contract meets all the essential elements of a contract including agreement, consideration, contractual capacity, and lawful object.
2. A void contract has no legal effect and cannot be enforced as it fails to meet the essential elements or the terms are illegal.
3. A voidable contract can be declared void or upheld at the option of one of the parties, such as a contract made by a minor, and is otherwise valid until avoided.
The document discusses the concept of consideration in contract law. It defines consideration as something of value exchanged between parties in a contractual agreement. Consideration must be bargained for, such as an act, forbearance from an act, or a promise. There are exceptions where consideration is not required, such as natural love and affection between parties or an agreement to pay a time-barred debt. Consideration is essential to forming a valid, enforceable contract and establishes the mutual obligations between parties.
This document defines consideration and outlines its essential rules and types under contract law. It states that consideration is something of value that each party provides to make a contract enforceable. The rules are that consideration must move at the desire of the promisor, can come from the promisor or third party, and can be past, present or future. There are also exceptions to the general rule that an agreement without consideration is void, such as agreements on account of natural love/affection or to compensate for past voluntary services. The types of consideration are past (valid in India but not England), present, and future consideration.
The document discusses the concept of consideration in contracts. It defines consideration as something bargained for and received by the promisor from the promisee in exchange for the promise. Consideration can be in the form of an act, abstinence from an act, or a return promise. It must be something of value in the eyes of law and move at the desire of the promisor. Consideration can be past, present or future. There are exceptions to the privity rule that allow third parties to enforce contracts under certain conditions like trusts or intended benefits.
The document defines consideration under Indian contract law as something done or promised to be done in exchange for a promise. Consideration must be real, lawful, and something the promisor is not already obligated to do. While consideration is usually required, there are some exceptions like natural love and affection between family, completed gifts, and promises to pay time-barred debts. The doctrine of promissory estoppel also allows enforcement of some promises without consideration if someone relied on the promise.
Estoppel can prevent a party from asserting their strict legal rights (acting as a shield), but it cannot be used to create new legal rights or claims that did not previously exist (acting as a sword).
This document discusses key elements of contract formation under Malaysian law, including offer, acceptance, consideration, intention to create a legal relationship, legal capacity, and free consent. It also discusses circumstances that can invalidate a contract such as misrepresentation, undue influence, and mistake. The document analyzes a hypothetical case regarding a minor entering into a contract and concludes the contract would be void due to lack of legal capacity. Relevant cases are also discussed.
The document discusses the key elements of consideration according to Indian contract law:
1) Consideration must move at the desire of the promisor. It must be done at their request.
2) Consideration can move from either the promisee or any other person, including a stranger to the contract.
3) Consideration can be past (before the promise), present (at the time of promise), or future (after the promise).
This summarizes a business law case study involving an individual named Tom. Tom signed a two-year contract to be a plantation manager in Brunei from 2016 to 2018. He was offered a potential one-year extension. While in Brunei, Tom accessed bank accounts in both Australia and Brunei. Upon returning to Australia in 2018, Tom started his own accounting practice. The case study raises issues regarding Tom's tax obligations and residency status related to his overseas employment, rental income, and new business. It also provides rules under Australian taxation law regarding these issues including residency tests, reporting income sources, and business registration requirements.
This document defines consideration and outlines its key elements and functions in contract law. Consideration is something of value given in exchange for something received. It must be given by the promisee at the promisor's request. Consideration can be past, present or future acts. It must be real/possible, but does not need to be adequately valued. Exceptions to the consideration requirement include contracts of love, agency, voluntary services, donations, gifts, extensions of time limits, and time-barred debts. The document also defines bailment as the delivery of goods by one person to another for a purpose, and outlines the rights and duties of bailors and bailees.
"Consideration" (Chapter 7) - Business LawSandeep Sharma
The document discusses the rule that contracts require consideration to be valid and exceptions to this rule. It defines consideration as something of value exchanged between parties in a contract (quid pro quo). The main points are:
1) Consideration must be real, not illusory, and lawful. It need not be adequate in value.
2) Exceptions where contracts don't require consideration include natural love and affection between close relations, completed gifts, voluntary services, time-barred debts, contracts of agency, and gratuitous bailments.
3) Promises to charities are generally unenforceable due to lack of consideration, as neither party gains or suffers directly from the promise.
The document summarizes two legal cases from a Malaysian business law course. The first case discusses the will of Tan Soh Sim who died without a will. Her legal next-of-kin signed a document giving her estate to her four adopted children and second wife. The court found the document invalid as the adopted children were not in near relation to the next-of-kin according to Chinese custom. The second case discusses Ventaka Chinnaya Rau Garu vs. Venkataramaya but no details are provided. The document provides facts, issues, principles, decisions and commentary for the first case and references for a business law course assignment.
The document discusses the key principles of consideration under contract law in India according to the Indian Contract Act 1872. It defines consideration and outlines several important points regarding consideration:
1) Consideration must move at the desire of the promisor.
2) Consideration may move from the promisee or any other person.
3) Consideration can be past, present or future.
4) Consideration need not be adequate but must be real and of some value.
The document also discusses exceptions to the general rule that an agreement made without consideration is void, such as agreements made out of love and affection or to pay a time-barred debt.
The document summarizes key aspects of entertainment law related to contract formation and obligations. It discusses requirements for valid contracts such as offer/acceptance, consideration, and capacity. It also covers duration limits, bankruptcy implications, and obligations of performers/authors including creative control, breach terms, morals clauses, and non-competition agreements. Examples are provided of relevant court cases that address these entertainment law contract issues.
This document discusses legal rules regarding consideration in contracts. It states that consideration must move at the desire of the promisor, can move from the promisee or another party, and may be forbearance from legal action. Consideration can be past, present, or future. It does not need to be adequate and must be real rather than illusory. Consideration cannot involve preexisting obligations or be illegal, immoral, or against public policy.
1) A subcontractor was unpaid for road patching work it performed for Con Edison under a contract. It filed liens and sued Con Edison along with other parties.
2) The case involves complex issues around public improvement liens under New York's Lien Law, including questions around whether the work constituted a public or private improvement and whether valid liens were filed.
3) While the liens themselves may not be valid, the plaintiffs can still potentially recover against Con Edison through trust fund provisions of the Lien Law since Con Edison received project funds and commenced an interpleader proceeding.
This document discusses the legal requirements for consideration in contracts. It defines consideration as mutuality of agreement where both parties gain or lose something of value. Consideration must be both valuable and move from the promisee. There are exceptions for acts done at the promisor's request or where equitable estoppel applies. The performance of an existing contractual or public duty is generally not valid consideration, though practical benefits may allow contract variation. Equitable estoppel can also prevent a party from going back on a promise if the other party relied on the promise to their detriment.
This document discusses different types of contracts including valid, voidable, void, unenforceable, bilateral, unilateral, express, implied, and executed contracts. It provides examples and definitions for each type. Key points include that a valid contract is enforceable by law, a voidable contract can be enforced by one party but not the other, and a void contract was initially valid but became invalid due to external reasons like a government ban. Bilateral contracts involve obligations from both parties while unilateral contracts involve an express promise from one party only.
. Consideration must move from the promisee or a third party at the desire of the promisor. It does not need to be adequate but must be real, valuable, and legal. The document outlines exceptions where a contract may be valid without consideration, such as written agreements registered under law made out of natural love and affection between close relations.
Running head TITLE 1TITLE 6TitleStudent Name.docxagnesdcarey33086
Running head: TITLE
1
TITLE
6
Title
Student Name
University Name
Title
1) When statutes are passed only after considerable study, debate and public input, this is an example of which function of the law?
A. Keeping the peace.
B. Shaping moral standards.
C. Maintaining the status quo.
D. Facilitating orderly change.
2) What was the U.S. Supreme Court’s reaction to a case where a business executive was found guilty of aiding and abetting in the bribery of an Internal Revenue Service Agent even though the Internal Revenue Service agent had been found not guilty of the bribery in a separate trial?
A. Because of the inconsistent outcomes, a third combined trial was ordered to reconcile the different outcomes.
B. This simply underscores the fact that there is always the possibility that different juries might reach different results in a given situation.
C. Because one of the defendants had been found guilty, then both should have been found guilty.
D. Because one of the defendants had been found not guilty, they both should have been found not guilty.
3) Which of the following is most consistent with the Natural Law School of jurisprudence?
A. The laws of man are secondary to the laws of nature, and thus the laws of nature take precedence whenever the laws of man are in conflict with the laws of nature.
B. By applying the rules of logic to specific cases, the logical, or natural, result will be obtained.
C. Law is based on moral and ethical principles of what is right, and it is the job of men and women, through study, to discover what these principles are.
D. The law is a reflection of society, thus the law must change naturally as society changes over time.
4) Which of the following statements is true regarding the relationship of law and ethics?
A. In some cases the law will require a higher standard of conduct than ethics, but never vice versa.
B. Depending on the circumstances, the law can require a higher, lower, or the same standard of conduct as ethics demands.
C. The legal requirements will almost always be the same as the ethical requirement because the law is based on the ethical standards.
D. In some cases ethics will require a higher standard of conduct than the law, but never vice versa.
5) Which of the following is correct with regard to the relationship between law and ethics?
A. Lawful conduct is always ethical conduct.
B. Although much of law is based on ethical standards, not all ethical standards have been enacted as law.
C. The rule of law and the golden rule of ethics demand the same response.
D. The law may not .permit something that would be ethically wrong.
6) Which of the following is not one of the Caux Round Table Principles for International Business?
A. Promotion of Multiculturalism.
B. Respect for the Environment.
C. Avoidance of Illicit Operations.
D. Support for Multilateral Trade.
7) In a civil case, which of the following is true about the order of the prese.
The document provides 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law. Some of the questions test knowledge of key features of common law systems, forms of business organizations, fiduciary duties of corporate directors and officers, and statutes like Sarbanes-Oxley. The questions are accompanied by 4 possible answer choices for each.
The document provides 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law. Some of the questions test knowledge of key features of common law systems, types of business entities and agency relationships, fiduciary duties of corporate directors and officers, and statutes like Sarbanes-Oxley. The questions are testing comprehension of legal concepts and ability to apply those concepts to hypothetical scenarios.
The document provides 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law. Some of the questions test knowledge of key features of common law systems, forms of business organizations, fiduciary duties of corporate directors and officers, and statutes like Sarbanes-Oxley. The questions are multiple choice with 4 answer options for each question testing comprehension of legal concepts and ability to apply facts to relevant laws.
This document appears to be a practice exam for a law school final, containing 25 multiple choice questions testing various concepts of business law. The questions cover topics like distinguishing features of common law systems, types of corporate authority, liability implications of LLC formality failures, sole proprietorship liability, partnership liability, alternative dispute resolution methods, director duties, assumption of risk defenses, contract statute of frauds issues, ERISA vesting requirements, labor law, employment discrimination, and methods of acquiring land through adverse possession. The document provides answer choices for each question but does not include the correct answers.
This document appears to be a practice exam for a law school final, containing 30 multiple choice questions testing concepts in business organizations, corporate law, employment law, and securities regulation. The questions cover topics such as distinguishing features of common law systems, types of corporate authority, LLC formalities and liability, sole proprietorship liability, partnership liability, alternative dispute resolution methods, corporate duties of care and loyalty, employment discrimination, ERISA vesting requirements, labor law, intellectual property issues, Sarbanes-Oxley requirements, and prohibited conduct.
This document appears to be a practice exam for a law school final, containing 25 multiple choice questions testing various concepts of business law. The questions cover topics such as distinguishing features of common law systems, types of corporate authority, liability implications of LLC formality failures, sole proprietor liability, partnership liability, alternative dispute resolution methods, director duties, assumption of risk defenses, contract statute of frauds issues, ERISA vesting requirements, labor law, employment discrimination, and methods of acquiring land through adverse possession. The document provides answer choices for each question but does not include the correct answers.
The document appears to be a practice exam for a law school final exam in the subject of LAW 531. It contains 26 multiple choice questions testing various concepts in business law, including common law systems, agency authority in corporations, LLC liability, partnership liability, alternative dispute resolution methods, corporate director duties, product liability defenses, contract law doctrines like the statute of frauds and parol evidence rule, employment law, ERISA, and property law concepts like adverse possession. The exam covers a wide range of foundational business and legal principles.
The document contains 30 multiple choice questions from a law school final exam on various business law topics including: [1] distinguishing features of common law systems; [2] types of corporate authority; [3] consequences of LLCs failing to follow formalities; [4] personal liability of sole proprietors. The questions cover additional topics such as: [5] partnership liability; [6] alternative dispute resolution methods; [7] corporate director duties; [8] employment discrimination; [9] intellectual property issues. The document provides answers to test an individual's knowledge of business and employment law concepts.
This document contains 26 multiple choice questions that appear to be from a law school final exam on various topics of business law. The questions cover distinguishing features of common law systems, types of corporate authority, LLC formalities and liability, sole proprietorship liability, partnership liability, alternative dispute resolution methods, arbitration, mediation, director duties, assumption of risk defenses, duty of care for corporate officers, products liability, the Statute of Frauds, the parol evidence rule, discovery processes, ERISA vesting, labor law statutes, employment discrimination, recovery of legal fees, adverse possession, and categories of personal property.
This document contains 26 multiple choice questions that appear to be from a law school final exam on various topics of business law. The questions cover distinguishing features of common law systems, types of corporate authority, LLC formalities and liability, sole proprietorship liability, partnership liability, alternative dispute resolution methods, arbitration, mediation, corporate director duties, assumption of risk defenses, duty of care for corporate officers, products liability, the Statute of Frauds, the parol evidence rule, discovery processes, ERISA vesting, labor law, employment discrimination, recovery of legal fees, adverse possession, and categories of personal property.
This document provides the questions and answers to a law school final exam for LAW 531. It covers topics like [1] distinguishing features of common law legal systems, [2] types of corporate authority, and [3] personal liability of sole proprietors and partners. The 30 multiple choice questions and answers would allow a student to study for and prepare to take the final exam.
This document provides answers to a 25 question multiple choice law exam. It covers various topics of law including: [1] common law legal systems; [2] types of corporate authority; [3] limited liability for LLCs; [4] sole proprietor liability; [5] general partnership liability; [6] alternative dispute resolution methods; [7] arbitration; [8] mediation; [9] corporate director duties; [10] assumption of risk defenses; [11] ERISA vesting requirements; [12] union organizing statutes. The answers are labeled A-D and correspond to the questions provided in another document.
This document provides answers to 30 multiple choice questions from a law exam. Some key points covered include: [1] distinguishing features of common law legal systems include precedent set by judges; [2] types of agency authority held by corporate officers include express, implied, and apparent authority; [3] failure of an LLC to follow formalities like keeping meeting minutes could result in loss of limited liability for members responsible.
This document provides answers to a 25 question multiple choice exam for a Law 531 Final Exam. The questions cover a range of legal topics including common law systems, agency authority in corporations, limited liability for LLCs, sole proprietorships, partnerships, alternative dispute resolution methods, corporate director duties, assumption of risk defenses, statutes of frauds, ERISA vesting rules, labor law, employment discrimination, attorney fee recovery acts, and property law classifications.
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This document contains 30 multiple choice questions that appear to be from a law school final exam covering various topics in business law, including common law systems, agency authority in corporations, limited liability for LLCs, sole proprietorships, partnerships, alternative dispute resolution methods, duties of care for corporate directors and officers, products liability, contracts, employment law, property law, intellectual property, and business regulation including Sarbanes-Oxley. The questions test understanding of legal concepts and which choice best characterizes a given legal situation.
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This document provides the questions and multiple choice answers to 30 questions that appear to be from a law school final exam on various business law topics. The questions cover areas like the distinguishing features of common law, types of agency authority in a corporation, liability implications of LLC formalities, sole proprietorship liability, partnership obligations, alternative dispute resolution methods, duties of care and loyalty of corporate directors and officers, defenses to assumption of risk, statutes of limitations, employment discrimination, intellectual property issues, and provisions of Sarbanes-Oxley.
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This document provides the questions and multiple choice answers to 30 questions that appear to be from a law school final exam on various business law topics. The questions cover areas like the distinguishing features of common law, types of agency authority in a corporation, liability implications of LLC formalities, sole proprietorship liability, partnership obligations, alternative dispute resolution methods, duties of care and loyalty for corporate directors and officers, defenses to assumption of risk, statutes of limitations, employment discrimination, intellectual property issues, and provisions of Sarbanes-Oxley.
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1. BUS 415 Final Exam Guide
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1) The form of alternative dispute resolution wherein the parties hire someone to
review the evidence and make a decision that is binding upon the
parties is called
A. negotiation
B. settlement conference
C. conciliation
D. arbitration
2) The Federal Trade Commission is an example of
A. a federal agency created by the federal government
B. a corporation subsidized by the federal government
C. a branch of the U.S. Supreme Court
D. a temporary commission created by executive order that has become
permanent
3) A corporation is considered a citizen of what state?
A. The state where the majority of the employees live
B. It is not a citizen because it is a business
C. The state where it filed its Articles of Incorporation
D. The state where the president of the corporation lives
4) The Federal False Claims Act is also known as
A. the Sarbanes-Oxley Act
B. the Whistleblower Statute
C. the Statute of Frauds
D. the Statute of Limitations
5) Utilitarianism is a moral theory, which states
A. ethics requires a decision-maker to take actions which result in the greatest
good to society
2. B. ethics requires following the Golden Rule (do unto others as you would have
them do unto you)
C. ethics requires actions which use the most efficient tools
D. ethics requires acting according to the Bible or some outside source
6) Which of the following statements is true?
A. If something is legal, it is always ethical.
B. Practices that are legal in the United States are legal everywhere in the world.
C. Practices that are ethical in the United States are considered ethical
everywhere else in the world.
D. A course of action can be legal but not ethical.
7) If a defendant files a motion for summary judgment in a civil case, what is the
defendant saying?
A. That the plaintiff’s claims are false
B. That the court has no jurisdiction to decide the case
C. That the case is ready to go to the jury
D. That even if what the plaintiff says is true, there is no basis for judgment
against the defendant
8) A defendant fails to answer a civil lawsuit, what is likely to happen?
A. A court will contact the defendant and ask him to answer the lawsuit.
B. The court will grant a default judgment against the defendant.
C. The case will be appealed before the court makes a ruling.
D. The court will order that the defendant go to jail until he or she agrees to
answer.
9) The legal authority of a court to make orders that are binding upon the parties is
called
A. in rem jurisdiction
B. personal jurisdiction
C. quasi in rem jurisdiction
D. enumerated jurisdiction
10) Harry Hoosier, an Indiana resident, drives his family to Florida for spring
vacation. When he is at a red light, Freddie Floridian, a Florida
resident, is unable to stop in time and his vehicle impacts Harry’s car from the rear.
No one is hurt and Harry’s vehicle suffers approximately
$10,000 in damages. Which is correct?
3. A. Harry can sue Freddie in federal court in Florida but not in Indiana.
B. Harry can sue Freddie in state court in Florida or Indiana.
C. Harry can sue Freddie in state court but not federal court in Florida but not in
Indiana.
D. Harry can sue Freddie in state court but not federal court in Florida or
Indiana.
11) Monica owed Bob $500 for a business investment, which was more than a year
overdue. Bob got drunk at a party and told everyone that Monica
had owed him $500 for over a year. Can Monica recover from Bob for defamation?
A. Yes, because Bob abused his conditional privilege.
B. No, because Bob was telling the truth.
C. Yes, because Bob communicated the statement to third persons.
D. No, because Bob had been drinking.
12) What is the definition of a tort?
A. Any violation of an ethical duty
B. Any crime or misdemeanor
C. Any action done in violation of a prior agreement, which allows the victim to
recover damages
D. Any civil wrong that allows the injured person to recover damages
13) Pete and Vicky make the following agreement: Pete promises he will go into a
store, buy something for $5, and pay for it with a $100 bill on
which he has written “Happy Birthday Vicky!” Vicky promises that after Pete collects
his change and leaves the store, she will go into the same
store, buy something that costs $5, and pay with a $10 bill. When the clerk attempts to
give her change for $10, Vicky will claim that the $100 bill
that is in the cash register was money she just received for her birthday, and will
demand change from a $100 bill. Then Pete and Vicky will split the
extra money they think Vicky will receive in change. Is this a valid contract?
A. This is a valid contract. There was a promise in exchange for a promise, and
both parties got what they wanted.
B. This is a void contract, because the parties agreed to commit fraud.
C. This is a voidable contract because Vicky can change her mind.
D. This is not an enforceable contract because the agreement is not in writing.
14) An easement can be defined as
4. A. a limited right to use another person’s land for a specified purpose
B. a relaxation of the borderlines between two parcels of land
C. a life estate in the property of another
D. an option to purchase the land of another
15) Huey, Dewey, and Louie own a building as tenants in common. Huey lives in the
building. Without consulting the other two owners, Dewey deeds
his interest in the building to Joe. What will be the outcome of this situation?
A. Huey, Louie, and now Joe will own the property as tenants in common.
B. Huey and Louie will still own the property as tenants in common, but Joe will
have a reversionary interest.
C. The transfer of the interest to Joe will be ineffective because the other two did
not consent.
D. Joe will make Huey pay rent.
16) Which of the following best describes the benefits of a limited liability company
(LLC)?
A. LLC managers are not personally liable for debts, obligations, and liabilities of
the LLC.
B. LLCs have limited duration.
C. Documents do not have to be filed with the state to create an LLC.
D. LLCs are automatically taxed like corporations.
17) Which of the following is true when a general partnership is converted to an LLC?
A. The property must be sold to a third party who then immediately sells it to the
LLC.
B. The conversion can be made retroactive for up to 2 years.
C. The profit and loss sharing terms must remain the same as they were in the
partnership.
D. The general partners will retain unlimited personal liability for obligations
incurred while the business was a partnership.
18) In the Northeast Ethanol, LLC case, the court pierced the defendant's corporate
veil after determining that
A. the plaintiffs could not find financing to build the ethanol plant
B. the defendant's shareholder used the corporation to perpetrate fraud
C. the ethanol plant was an unwise investment, against the best interest of the
parties
D. the plaintiff's corporate directors were engaging in ultra vires activities
5. 19) Which comment best describes the alter-ego doctrine in corporate law?
A. A corporation automatically becomes the alter ego of its shareholders
B. The president is the sole decision maker of a corporation
C. The board of directors is the alter ego of a corporation
D. Protection from personal shareholder liability can be forfeited if corporate
formalities are not observed
20) If a corporation is properly incorporated in one state and wants authority to do
business in second state, the corporation typically must
A. re-incorporate in the second state
B. do nothing because being incorporated in one state automatically entitles the
corporation to do business in all states
C. register with the Interstate Commerce Commission as an alien corporation
D. obtain a certificate of authority from the second state
21) The DEF Corporation is incorporated in Texas. It wishes to do business in
Oklahoma. Before DEF can legally do businesses in Oklahoma, which
of the following must it do?
A. Nothing; DEF automatically has constitutional rights to do business in
Oklahoma.
B. DEF must incorporate in Oklahoma.
C. DEF must qualify (register) to do business in Oklahoma.
D. DEF must domicile itself in Oklahoma.
22) What types of business can be converted to an LLC?
A. General partnerships only
B. General partnerships and limited partnerships only
C. Corporations and limited partnerships only
D. Corporations, general partnerships, and limited partnerships
23) Which of the following best describes the status of the employment at-will doctrine
in the United States today?
A. It applies in most states to most employment relationships, but there are many
exceptions that limit its application.
B. It applies more today than in the last century, and the quantity of corporate
layoffs is evidence of this.
C. It today applies only to the employer, although in the past it applied to both the
employee and employer.
D. It still applies today, but only to employees who are expressly told that they are
an at-will employee when they are hired.
6. 24) Which of the following rejected applicants may have a valid claim for
discriminatory hiring practices?
A. A public health service did not hire a registered nurse because his shaking
hands prevented him from administering injections.
B. A Catholic school did not hire a teacher because he was not Catholic.
C. A trucking company did not hire a truck driver because she was pregnant.
D. A university did not hire a 22-year-old woman to be a director of faculty
because she was too young.
25) Which of the following people is protected from employment discrimination on the
basis of age?
A. A 90-year-old person who wants a job as an airline pilot
B. A 50-year-old person who wants a job as an accountant
C. A 30-year-old person who wants a job as a waitress
D. A 10-year-old person who wants a job as a bartender
26) Marie works as a receptionist for a plumbing company. She works from 9 a.m. to
6 p.m. Monday through Friday. She earns $12 per hour, and is
told how to do her job and what she should be working on at any particular time. Her
boss does not withhold any taxes from her paycheck. Which of
the following is true?
A. Marie would be treated as an employee because she is paid for the work that
she does.
B. Marie would be treated as an employee because of the control exercised by the
plumbing company over her work.
C. Marie would be treated as an independent contractor because she is paid
hourly.
D. Marie would be treated as an independent contractor because the employer
doesn’t take any taxes out of her check.
27) Company employee handbooks have been found in some cases to amount to a(n)
______________ exception to the employment at will doctrine.
A. apparent
B. tort
C. public policy
D. implied contract
28) Which of the following is a correct statement of the requirements for a Bona Fide
Occupational Qualification (BFOQ)?
7. A. The occupational qualification is job-related and cost-effective.
B. The occupational qualification is job-related and nondiscriminatory.
C. The occupational qualification is job-related and is a business necessity.
D. The occupational qualification is rationally based and evenly applied.
29) What federal legal protection is there with respect to trade secrets?
A. Trade secrets are protected under the federal patent laws.
B. Trade secrets are protected under the federal copyright laws.
C. Trade secrets are protected under the Trade Secret Protection Act of 1952.
D. Trade secrets are protected under the Economic Espionage Act of 1996.
30) Which of the following is true about misappropriation of trade secrets?
A. Although it is not necessary that the trade secret be patented, the secret must be
such that it could be patented.
B. Trade secrets are always protected regardless of the actions of the trade secret
owner.
C. The plaintiff can recover damages from theft of a trade secret only if the
defendant acquired the trade secret through unlawful means.
D. Injunctions are generally not available to protect trade secrets.