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.
What do you understand about Bankruptcy Laws - David Ford Avon CTDavid Ford Avon Ct
everyone should understand about creditor's rights and bankruptcy laws according to David Ford Avon CT. These laws can help a person if he had a situation in the future.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
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What do you understand about Bankruptcy Laws - David Ford Avon CTDavid Ford Avon Ct
everyone should understand about creditor's rights and bankruptcy laws according to David Ford Avon CT. These laws can help a person if he had a situation in the future.
The annual Legal Seminar For Credit Professionals, presented by Kegler Brown in conjunction with NACM – Great Lakes Region and American Subcontractors Association, was combined with an international business and construction legal program. Topics included selling internationally, post-judgment collection, bankruptcy, bids and pay-if-paid clauses.
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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?
Question 1 1. The seller can recover the purchase price for the .docxmakdul
Question 1
1. The seller can recover the purchase price for the goods only under certain circumstances, including when:
The buyer accepts, but fails to pay for the goods.
The goods are destroyed after risk of loss passes to the buyer.
The buyer rejects specially manufactured goods that cannot be resold.
A, B and C.
0.5 points
Question 2
1. Which of the following is a true statement?
It is unlawful for an employer in the U.S. to hire illegal immigrants unless the employer is based in a border region with very high employment.
As a general rule, it is illegal in the U.S. for private sector employers to use polygraph tests on their employees.
The WARN Act in the U.S. prohibits a company from closing a major plant unless it gets the permission of the Department of Labor.
A closed shop which requires union membership as a condition of hiring is legal pursuant to federal labor laws in the United States.
0.5 points
Question 3
1. Which of the following best describes a shareholder's preemptive rights?
The right to purchase shares of another shareholder pursuant to a buy-and-sell agreement.
The right to purchase a pro-rata portion of any additional shares issued by the corporation.
The right of shareholders to override actions of the board of directors.
The right of shareholders to remove members of the board of directors without cause.
0.5 points
Question 4
1. Under the implied warranty of merchantability:
A.
Both merchants and non-merchants generally are liable.
B.
The warranty includes a requirement that the goods be adequately packaged and labeled.
C.
The warranty applies even if a product is misused and instructions are disregarded.
D.
The warranty is based on a reasonable consumer expectations test as to what a high quality of a good should be.
0.5 points
Question 5
1. Under the UCC a merchant is best described as a
A salesman or saleswoman
A retailer
An inventor
A Venetian
0.5 points
Question 6
1. Common law consists of:
Laws which all nations have in common.
Laws which affect everyone, including ordinary persons.
Rulings and opinions which have been issued by judges when deciding previous cases.
Laws which more people are aware of.
0.5 points
Question 7
1. Under the common law, a tort can best be defined as:
A.
Any violation of an ethical or moral duty.
B.
Another term for a crime or misdemeanor.
C.
An action done in breach of an agreement that allows the aggrieved party to recover damages.
D.
A civil wrong that allows an injured person to recover damages.
0.5 points
Question 8
1. A sues B in a state trial court for negligence. A loses the suit. If A wants to appeal, the most appropriate court in which to file the appeal is
the state appellate court.
the nearest federal district court.
the nearest federal court of appeals.
the United States Supreme Court.
0.5 points
Question 9
1. Which of the following is a FALSE statement:
A.
Comity is a international la ...
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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.
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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
Welcome to TechSoup New Member Orientation and Q&A (May 2024).pdfTechSoup
In this webinar you will learn how your organization can access TechSoup's wide variety of product discount and donation programs. From hardware to software, we'll give you a tour of the tools available to help your nonprofit with productivity, collaboration, financial management, donor tracking, security, and more.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Safalta Digital marketing institute in Noida, provide complete applications that encompass a huge range of virtual advertising and marketing additives, which includes search engine optimization, virtual communication advertising, pay-per-click on marketing, content material advertising, internet analytics, and greater. These university courses are designed for students who possess a comprehensive understanding of virtual marketing strategies and attributes.Safalta Digital Marketing Institute in Noida is a first choice for young individuals or students who are looking to start their careers in the field of digital advertising. The institute gives specialized courses designed and certification.
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Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
2024.06.01 Introducing a competency framework for languag learning materials ...Sandy Millin
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Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
Francesca Gottschalk - How can education support child empowerment.pptxEduSkills OECD
Francesca Gottschalk from the OECD’s Centre for Educational Research and Innovation presents at the Ask an Expert Webinar: How can education support child empowerment?
1. LAW 531 Final Exam
Click here for Answers
1) Which of the following is a distinguishing feature of a common law legal system?
A. Requiring guilt be proven beyond a reasonable doubt
B. The sole source of law is a comprehensive civil code
C. An appeal process
D. The making of law by the judges and the following of precedent
2) Which best describes the types of agency authority held by officers of a corporation?
A. Vicarious authority
B. Express and obvious authority
C. Implied and apparent authority only
D. Express, implied, and apparent authority
3) If an LLC fails to follow formalities such as keeping minutes of meetings, which of the
following is true?
A. Only the managers of a manager-managed LLC will lose limited liability.
B. All members will lose their limited liability.
C. This failure will not result in imposing personal liability on any member.
D. Only the parties responsible for the failure will lose limited liability.
4) Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the
shop because business was so bad. At that time, the business assets totaled $50,000, but the
business liabilities totaled $125,000. Which of the following statements is true?
A. Martha is personally liable for the additional $75,000.
B. Martha’s business creditors can collect only the $50,000 of business assets.
2. Click here for Answers
C. Martha’s business creditors can collect only the $50,000 now, but if Martha ever goes into
business again, they can get the assets of the new business.
D. Once Martha terminates the sole proprietorship, the business creditors cannot even get the
$50,000
5) Partners of a general partnership
A. are protected from litigation against the partnership by statute
B. are liable for the obligations of the partnership only to the extent of their capital contributions
C. do not have to pay taxes on the profits of the partnership that are distributed to them
D. are liable for all the obligations of their partnership
6) Which of the following forms of alternative dispute resolution allows both parties to see the
strengths and weaknesses of both sides of the case through the presentation of evidence?
A. Negotiated settlement
B. Minitrial
C. Mediation
D. Conciliation
7) A ___________ is a court-appointed party who conducts a private trial and renders a
judgment
A. fact-finder
B. arbitrator
C. judicial referee
3. Click here for Answers
D. negotiator
8) What is a form of alternative dispute resolution that is often used when the parties involved do
not want to face one another?
A. Arbitration
B. Fact-finding
C. Minitrial
D. Conciliation
9) Which of the following is true regarding mediation?
A. A mediator often meets with both parties at the same time
B. A settlement agreement is never reached with a mediator.
C. A mediator does not make a decision or award
D. If a settlement agreement is not reached in mediation, then the parties hire a new mediator
10) There are no accountants on the board of the Oriole Corporation, a privately held
corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the
financial situation of the corporation. The board does not do an independent analysis of the
CPA’s report. In these circumstances, the board is
A. violating a duty of loyalty
B. violating a duty to exercise due care
C. violating the business judgment rule
D. not violating any duty
4. Click here for Answers
11) Self-dealing by a director of a corporation can best be described as
A. A breach of a director's duty of notification
B. A breach of a director’s duty of care
C. A breach of the Business Judgment Rule
D. There was no breach of duty
12) Which of the following is likely to be a breach of a corporate officer’s or director’s duty of
care?
A. Failing to anticipate a precipitous drop in consumer demand of the company’s product
B. Failing to make a reasonable investigation of relevant facts
C. Failing to predict the unexpected startup of a new competitor
D. Failing to foresee a sudden rise in the interest rate
LAW 531 Final Exam
13) In what ways may officers and directors be protected by the corporation from liability for
actions taken as an officer or director?
A. The officer or director must purchase personal liability insurance to cover such losses.
B. Have the corporation purchase liability insurance and indemnify the officers and directors
C. Officers and directors cannot be protected from liability
D. Officers and directors are automatically protected from liability by virtue of corporate
14) If a plaintiff voluntarily participates in a risky activity that results in injury, what is the most
likely defense to a claim that the plaintiff assumed the risk?
5. Click here for Answers
A. Contributory negligence
B. Defendant was negligent per se
C. Defendant assumed the risk under the “danger invites rescue” doctrine
D. Comparative negligence
15) Mark is the treasurer of Sky-Hi Tech Corporation and, as such, he is responsible for
protecting the assets of the corporation. One of Mark’s subordinates, Jill, is in charge of
reconciling the monthly corporate bank statements. Over a period of several months, Jill
embezzled a large amount of money from Sky-Hi Tech, covering up the theft using her bank
reconciliations. If Mark had adequately supervised Jill, she could not have embezzled this
money. Mark’s actions (or inactions) constitute a breach of his duty of
A. due care
B. obedience
C. loyalty
D. good business judgment
LAW531 Final Exam
16) Barry buys a new sports car. The car sits low to the ground and because of the styling,
visibility to the rear is limited. About a month after Barry buys the car, he backs over his pet
poodle as he is leaving for work. In his strict liability suit against the car manufacturer, Barry
will
A. win because driving a sports car is an inherently dangerous activity
B. win on the basis of design defect
C. win on the basis of packaging defect because the car could have been packaged in a
differently styled body
D. lose because he assumed the risk of backing up in a car when he could not see to the rear
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17) If a judge rules that a party lost its case because of the Statute of Frauds, the judge has
essentially stated which of the following?
A. The losing party purposely deceived the other party about a material fact.
B. The losing party will not be allowed to introduce evidence to contradict a written agreement
C. The losing party cannot enforce an oral contract that should have been in writing
D. The losing party was found by the court to have lied, and therefore will lose the case
LAW 531 FInal Exam LAW531
18) What does the parol evidence rule do?
A. It limits the ability of parties to written contracts from introducing certain evidence related to
the contract.
B. It sets the rules for admissibility of evidence relating to releasing a criminal from a prison
term
C. It sets the general rules for the admissibility of evidence in criminal actions
D. It determines which contracts are required to be in writing
19) ABC LLC and XYZ Corp. entered into a contract whereby ABC is to supply XYZ with
widgets. After receiving the first shipment of widgets, XYZ finds that the widgets, while meeting
the physical standards specified in the contract, do not perform as XYZ anticipated. The contract
is silent as to performance specifications, but XYZ suspects that ABC knew that it was
manufacturing and supplying widgets that would not perform according to industry standard.
XYZ initiates a lawsuit against ABC, alleging that ABC knowingly supplied defective widgets.
What process will XYZ use to help it develop its case against ABC?
A. Pleadings
B. Motion for summary judgment
C. Discovery
D. Trial
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20) Under the Employee Retirement Income Security Act (ERISA), an employee’s benefits must
vest
A. within 10 years
B. by the time of the employee’s retirement
C. in total within 5 years or gradually within 7 years
D. only as provided in the pension plan
21) Which of the following statutes provides that it is legal for employees to organize a union?
A. The Norris-LaGuardia Act
B. The National Labor Relations Act
C. The Labor-Management Relations Act
D. The Worker Adjustment and Retraining Notification Act
22) William was a factory worker at the Spruce Industries plant. When management found out
that William is gay, he was fired. The plant’s action is
A. not prohibited under federal law
B. a violation of Title VII
C. a violation of the Equal Pay Act
D. a violation of the Americans with Disabilities Act
23) Janet is manager of a bank. She has all the qualifications to be promoted to bank manager. In
fact, she is better qualified than any of the men being considered for the position. However, the
8. Click here for Answers
owner of the bank believes that bank customers will not accept a woman as bank manager, so the
owner promotes one of the males. The owner’s actions would best be described as what?
A. Quid pro quo
B. Hostile work environment
C. Gender discrimination
D. Pregnancy discrimination
24) Which one of the following statutes allows a prevailing party to recover attorney’s fees in an
action against the government for an action of an agency?
A. The Freedom of Information Act
B. The Government Compensation Act
C. The Administrative Procedure Act
D. The Equal Access to Justice Act
25) Which of the following would prevent someone from acquiring land by adverse possession?
A. The person never had to fight the original owner to remain on the land
B. The person lived on the land secretly so that the original owner would not find out he or she
was there
C. The person lived on the land without the original owner’s permission
D. The person was the only person who lived on the land in question
26) Which of the following would be classified as tangible personal property, as opposed to other
property categories, such as fixtures or intangible property?
A. A freestanding desk
B. Built-in cabinets in an office
9. C. A copyright to a literary work
D. A field of corn
27) As the CEO of a high tech company, you become aware that your chief competitor is
working on a new computer program that will revolutionize your industry. You know that if you
can find out several key functions about the new product, your own programmers will be able to
duplicate the function of the program without actually copying its code. Which of the following
actions can you ethically take?
A. Paying the garbage company to deliver the competitor’s garbage to you
B. Hiring a former employee of the competitor and paying her a bonus to tell you the
competitor’s secrets
C. Hiring a researcher to review all available information about the competitor, including
patents, types and names of employees hired, reports by the competitor, including all SEC filings
D. Hacking into the competitor's computer systems to find out what you need
28) From a practical perspective, what are some of the elements of Sarbanes-Oxley?
A. Ensuring transparency, accountability and internal controls
B. Ensuring companies are profitable
C. Ensuring that CEOs do not make more than 10 times the lowest paid employee
D. Ensuring that large shareholders do not have board representation
29) Under Title IX of the Sarbanes-Oxley Act, the penalty for someone who certifies “any
statements as set forth in subsections (a) and (b) of this section knowing that the periodic report
accompanying the statement does not comport . . .” is
A. no more than $1,000,000.00 or imprisoned no more than 10 years, or both
B. no more than $500,000.00 or imprisoned no more than 6 months, or both
C. no more than $2,000,000.00 or imprisoned no more than 3 years, or both
D. no more than $5,000,000.00 or imprisoned no more than 20 years, or both
30) Which is prohibited under the Sarbanes-Oxley Act?
A. High salaries for corporate executives
10. Click here for Answers
B. Using an independent accounting firm for audit purposes
C. Public companies making personal loans to their directors and executives
D. Directors and executives attending board meetings on a regular basis