Reference no: EM13923174
LAW/421 Final Exam Study Guide
1) Which legal process does not require a hearing officer's decision?
Mediation
2) Describe jurisprudence:
The study of the science and philosophy of law
3) The state of California is requiring all commercial trucks to get special windshield wipers installed at a price of $1,000 a pop. It's supposed to increase safety, but this has not been fully proven. Trucks will have to go around the state to avoid the law. Is this law valid or invalid?
The law is invalid. It appears to be an intrastate law, but the statute have major implications on interstate commerce.
4) Where does the power of preemption come from?
Supremacy Clause of the US Constitution
5) Name a major issue with international courts?
It's difficult to enforce rulings on sovereign nations
6) In the United States, who typically pays the cost of litigation when it comes to the plaintiff and defendant?
The plaintiff and defendant usually pay for their own legal costs
7) How is torts law governed?
State common law
8) Assumption of risk can be used as a defense for which claim?
Negligence
9) What does the swoosh symbol on Nike shoes represent?
Trademark
10) What does a unique shape or color of a product represent? (For example, the shape of a Coca-Cola bottle)
Trade dress
11) What is Cybersquatting?
Registering a domain name of a popular brand and selling back to the rightful owner.
12) The Digital Millennium Copyright Act (1998) does NOT do the following...
Require CD-Writers to pay 2% into a fund that to prevent unlawful copying of material.
13) Carlos was taking a nap and when he work up he noticed is pool was cleaned and his lawn was mowed. A few hours later a man named Doug showed up and asked for payment. Does Carlos need to pay for the work?
Carlos would not have to pay for the work performed
14) A promise can ONLY be accepted by the performance of the party to whom it is offered is what type of contract?
Unilateral contract
15) What is NOT a discharge by mutual consent?
Rescission
16) Buck is shopping for assault rifles and agrees to buy an AR-15 for $1,500. The following day, president Obama signs a law that bans assult rifle ownership in the US. What happens to the contract?
Automatically terminated. Impossible to perform
17) What award is rarely given in contract cases?
Punitive damages
18) What is an example of an equitable remedy?
Reformation
19) Provide an example of something that is not tangible:
Ownership rights
20) How does consideration differ in UCC (Universal Commercial Code) when compared to state common law?
Consideration in a UCC sales contract may be changed without adding additional consideration
21) The Universal Commercial Code UCC will allow incomplete contracts, except for the following:
Judicial input of any terms necessary to maintain fairness
22) Two international firms have entered into a contract for the sale of goods, but have not done business before. UCC law allows gap fillers to fix these issues, except in the following situation:
The firms did not specify the quality of the products to be delivered
23) What term is used when a buyer rejects low quality goods and purchases the appropriate goods from a different seller?
Cover
24) Disclaiming a warranty does not require which of the following?
An explanation for why the warranty is disclaimed
25) "What if everyone took these same actions" is commonly cited as what type of legal approach?
Universalization
26) Who founded the utilitarian approach to law and philosophy?
Jeremy Bentham
27) Bernie operates an investment firm, however, it is not making enough returns to pay of all his investors. He starts using funds from new investors to pay off old investors. What illegal activity is he engaging in?
Ponzi scheme
28) Roger works at the bank. He takes money from customer accounts and falsifies bank records to cover his tracks. What crime is he engaged in?
Embezzlement
29) The Sarbanes-Oxley Act created new regulations for public companies, but it did not change what?
Tax compliance laws
30) Jackie is the CFO of a public company. She files false financial reports to boost her bonus package. Under Sarbanes Oxley, what penalties might she face for these actions?
$1,000,000 in fines and up to 10 years in prison