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1. UOP LAW 531 Final Exam Guide (New 2018)
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1. The obligation owed by individuals to one
another not to cause any unreasonable harm or
any risk of harm is called:
duty of care
duty of restoration.
duty of loyalty.
duty of restitution.
2. Which of the following best describes the term
warranty?
It refers to the terms in a sales contract stipulating
the party that will bear the risk of loss of goods
during shipment.

2. It is a purchaser’s title to goods obtained by the
impersonation of another person.
It is the seller’s assurance to a buyer that the goods
sold meet certain standards of quality.
It refers to the transfer of possession of stolen
property to a person who had bought the property
without the knowledge that it has been stolen.
3 The manifestation of the substance of a contract
by two or more individuals is called __________.
acceptance
an agreement
an offe
consideration
4 Workers’compensation is defined as the:
set of programs mandated by the government to
ensure safety in places of work

3. remuneration awarded to employees and their
families when the employees are injured on the
job.
insurance obtained by employees from private
insurance companies and government-sponsored
programs.
system that provides retirement and death
benefits to covered employees and their
dependents.
5. Which of the following applies to trade
restraints that are inherently anticompetitive?
The per se rule
The pro rata rule
The rule of four
The rule of reason
6. A group boycott occurs when:
competitors at one level of distribution
collectively refuse to deal with others at a different
level of distribution.
parties enter into a trade agreement that has

4. greater anticompetitive effects than
procompetitive effects.
competitors agree that they will distribute their
goods to only a particular portion of the market.
parties at different levels of distribution enter into
an agreement to adhere to a schedule that will
stabilize prices.
7. Which of the following scenarios is an example
of law and ethics contradicting each other?
the trademarked garment designs of a well-known
fashion designer.
A restaurateur, whose restaurant is violating labor
laws, bribes a federal official to prevent him from
reporting the violations.
A florist in the United States employs an illegal
immigrant to help the immigrant and her family
overcome their financial difficulties.
An iron-ore manufacturing company provides its
employees with high-quality safety equipment.

5. 8. Corporate officers are elected by a corporation’s
__________.
board of directors
preferred stockholders
owners
common stockholders
9. Which of the following is a category of torts?
Personal liability
Nonintent crime
Professional malpractice
Strict liability
10. Corporate officers are best described as:
owners of a corporation with limited liability for
its debts and obligations
directors elected by a corporation’s shareholders.
employees appointed to manage the daily
operations of a corporation.
partners pursuing a joint venture transaction

6. 11. 11
Which of the following is a remedy that requires
the breaching party to perform the acts promised
in a contract?
Binding arbitration
Special damages
Specific performance
Punitive damages
12. Helen buys a toy railway set for her 3-year-old
son, Ben. The product’s cover mentions that the
toy is suitable for children only aged between 3
and 12. While playing with the toy one evening,
without Helen’s supervision, Ben chokes on an
inch-long engine driver figure that forms part of
the train. Although he survives, he is traumatized
by the incident. For which type of defect can Helen
sue the toy manufacturer?
Failure to tamperproof
Defect in product packaging

7. Failure to warn
Defect in manufacture
13. An agency that appears to be created by a
principal but does not exist in reality is called a(n)
__________.
fully disclosed agency
implied agency
apparent agency
agency by ratification
14. 14
Robert orders coffee while having breakfast in a
diner. He suffers third-degree burn injuries when
the coffee accidently spills on him. He presses
charges against the diner for failing to notify him
that the coffee was exceptionally hot. In this
scenario, the diner is guilty of a(n) __________.

8. intentional tort
unintentional tort
nonintent crime
intent crime
15. When an employer does not discriminate
against women in general but treats women above
the age of 40 differently, the employer is practicing
__________.
color discrimination
religious discrimination
sex-plus discrimination
racial discrimination
16. Insider trading is considered illegal because:
it results in excessive losses for the company.
it makes use of nonmaterial public information.
it fails to account for the short-swing profits
brought into a company.

9. it limits investment opportunities for the investing
public.
17. When can an arbitrator’s decision and award
be appealed to the courts?
When an arbitration is binding
While entering a negotiation
While drafting a submission agreement
When an arbitration is nonbinding
18. When one party acquires a license to use
another party’s business model and intellectual
property in the distribution of goods and services,
the arrangement is a __________.
limited liability partnership
franchise
joint venture

10. kickback
19. Which of the following is a difference between
embezzlement and larceny?
Embezzlement is an unintentional tort, whereas
larceny is a nonintent crime.
Embezzlement is usually punishable by the
payment of monetary damages, whereas larceny is
usually punishable by the death penalty.
Embezzlement is the stealing of property by a
person to whom the property was entrusted,
whereas larceny is the stealing of property by a
person not entrusted with it.
Embezzlement is the snatching of personal
property from a person’s home, whereas larceny is
the snatching of personal property from a person
on the street.
20. Which of the following is a criticism of the
ethical fundamentalism theory?
It does not allow people to decide for themselves
what is right and what is wrong.

11. It is impossible in the real world to expect that
everyone in society will obey moral rules.
It does not reach an agreement on what the
universal rules should be.
It is impossible to measure the “good” that may
result from different actions.
21. Which of the following is a characteristic of
torts?
They are usually not tried by the jury.
They are brought to court by a plaintiff.
They are punishable by the death penalty.
They are tried by criminal procedure.
22. 2

12. A goal of the Sarbanes-Oxley Act of 2002 is to:
control and closely monitor the financial accounts
of all corporations in the United States.
allow directors and executive officers of public
companies to be given personal loans from the
companies.
end conflicts of interest, establishing better
corporate governance.
enable smooth settlement of alleged fraud among
major corporations.
23. Laws that prohibit discrimination based on
race, gender, or religion in the workplace
primarily serve the function of:
minimizing the freedom of employees
providing a basis for compromise.
advocating social justice.
creating a new status quo.

13. 24. Which of the following is a requirement for
obtaining a patent for an invention?
The invention must be in the form of a service.
The invention must be original.
The invention needs to be made of highly valuable
components.
The invention needs to be recognizable to the
general public.
25.
The power and authority to exclude competition
or control prices is known as __________.
enumerated power
implied power
monopoly power
reserved power
26. Which of the following is an advantage of
franchising?

14. It allows businesses to reach profitable new
markets.
It enables two businesses to pool their resources
to pursue a common goal
It allows a business to consist of only general
partnRoberers.
It grants free access to the intellectual property of
a business to anyone in the same market.
27. Laws that protect governments from being
overthrown primarily serve the function of:
minimizing individual freedom.
advocating social justice
providing bases for compromise.
maintaining the status quo.
28.
Which of the following is prohibited by the Food,
Drug, and Cosmetic Act (FDCA) with regard to
food?
The sale of non-organic food products
Labeling of raw seafood products

15. Labeling of genetically engineered food products
The sale of adulterated food
29.
Which of the following is a difference between
arbitration and mediation?
The decision of an arbitrator is nonbinding,
whereas the decision of a mediator is binding.
The role of an arbitrator is merely to assist parties
in reaching a settlement, whereas the role of a
mediator is similar to the role of a trial judge.
An arbitrator is authorized to issue an award,
whereas a mediator can only assist in reaching a
settlement.
Arbitration is an informal method of dispute
resolution, whereas mediation is a formal method
of dispute resolution.
30.
Ken owns a small convenience store in a street
corner in California. One afternoon, a teenage boy
enters his store, looks around, and prepares to
walk out without buying anything. Ken is wary of
the boy because of the boy’s shabby clothing. He
stops and asks the boy to empty his pockets and

16. then questions him for about five minutes. After
finding that the boy does not have anything from
the store on him, Ken reluctantly lets him go.
Which of the following is a merchant protection
statute that Ken has violated?
Reasonable grounds for suspicion
Adequate assurance of performance
Reasonable duration of detention
Adverse possession