The rain significantly safer due to reduced

Assignment Help Business Law and Ethics
Reference no: EM13925519

LAW 421 Final Exam Guide
1) Which of the following does not result in a decision rendered by the hearing officer?
A. Arbitration
B. Mediation
C. Med-arb
D. Using expert evaluators

2) Jurisprudence is defined as
A. adjudication of law suits
B. the enactment of laws by a government body
C. the science and philosophy of law
D. the duties and obligations owed by a citizen

3) The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed.
These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain,
although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or
will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must
have these flaps or go around the state. This Kansas law
A. is valid because it only applies to Kansas roads and such a law is entirely intrastate
B. is valid because Kansas's right to protect its citizens under its police powers will override any outside challenges to this law
C. is invalid because this law is intended to regulate interstate commerce, an enumerated federal power
D. is invalid because although on its face it's an intrastate law, this statute will have a significant economic effect on interstate commerce
causing an undue burden

4) The power of preemption is derived from
A. the power of judicial review
B. the Commerce Clause
C. the Necessary and Proper Clause
D. the Supremacy Clause

5) What is the main problem with international courts?
A. Finding judges who understand the complexities of international law
B. Creating a body of law that reflects multiple legal systems
C. Enforcing a ruling on sovereign nations is difficult
D. Lack of recognition from the U.N. and WTO

6) Under the U.S. legal system, subject to some exceptions, costs of litigation regarding both the plaintiff and defendant
A. are all paid by the loser
B. are all paid by the winner
C. are paid for by each side with the plaintiff and defendant paying for their own legal costs
D. are totaled by the court and then for fairness, split in half with each side paying an equal amount

7) Generally, torts law is governed by
A. state statutory law
B. state common law
C. federal statutory law
D. constitutional law

8) Assumption of risk is a defense to
A. conversion
B. negligence
C. defamation
D. battery

9) The three stripes on Adidas clothing represents a
A. trademark
B. trade dress
C. trade secret
D. patent

10) The color or shape of an item, if distinctive, is a
A. trademark
B. trade dress
C. copyright
D. patent

11) Cybersquatting describes the practice of
A. registering multiple domain names and then selling them back to companies at inflated prices
B. hacking into a company's website to install a virus or Trojan horse designed to steal information but allow the site to continue
operation
C. using mechanical devises to access a company's website multiple times to the point that traffic to the site is slowed or blocked
D. hacking into a company's website to install a virus designed to cause the company's website to totally cease operation

12) The Digital Millennium Copyright Act (1998) provided each of the following protections EXCEPT
A. manufacturers of CD-Writers were required to pay 2% of their sales into a fund to be distributed to copyright holders because the
CD-Writers could easily copy music and other copyrighted works
B. civil and criminal penalties were established for those who sell or manufacture products or services that circumvent antipiracy software
C. restrictions were placed on analog recorders and camcorders that lack antipiracy features
D. ISPs were relieved of liability for copyright infringement by their users as long as the ISP had no knowledge of the infringement

13) When Maria comes home from work, she finds that her yard has been mowed and trimmed. An hour later, a man comes to her door to
collect payment for the yard work. Maria refuses to pay him because she has never seen him before nor had she hired him to do the work.
Which of the following is accurate?
A. This is an implied, unilateral contract, so she must pay.
B. Maria has received unjust enrichment so a quasi contract is formed, so she must pay.
C. The court would make Maria pay the reasonable cost of the work to be fair to both parties.
D. Maria would not have to pay anything.

14) Where a promise can only be accepted by the performance of the person to whom it is offered is an example of a/an
A. bilateral contract
B. unilateral contract
C. implied contract
D. quasi contract

15) Each of the following is a discharge by mutual consent EXCEPT
A. accord and satisfaction
B. novation
C. rescission
D. frustration of purpose

16) Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs
a contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law is enacted
making the ownership, sale, or possession of an automatic rifle illegal. This contract
A. automatically terminates due to impossibility
B. automatically terminates due to impracticability
C. automatically terminates due to frustration of purpose
D. is enforceable and not affected by the new law because it was entered into before the law took effect

17) Which of the following is rarely awarded in contracts cases?
A. Consequential damages
B. Compensatory damages
C. Punitive damages
D. Liquidated damages

18) Which of the following is classified as an equitable remedy?
A. Consequential damages
B. Reformation
C. Restitution
D. Liquidated damages

19) Which of the following would not be considered tangible?
A. A car
B. Oxygen
C. The right of ownership
D. The pen or pencil you are using

20) With regard to consideration in a sales contract, the UCC differs from the common law in that
A. consideration in a sales contract may be modified without additional consideration
B. consideration exchanged must be equal or very closely equal in sales contracts
C. consideration is not required in sales contracts
D. consideration in a sales contract may be modified as long as additional consideration is provided

21) The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria EXCEPT
A. past commercial conduct
B. industry standards or norms
C. judicial input of any terms necessary to maintain fairness
D. correspondence or verbal exchanges between the parties

22) Two merchant companies have entered into a contract for the sale of goods but have had no prior dealings, which would establish a
course of conduct between them. The UCC will allow gap fillers to apply to their contract regarding missing terms in each of the following
situations EXCEPT
A. they have failed to specify when payment for the goods is to be made
B. they have failed to specify where delivery of the goods is to be made
C. they have failed to specify the quality or grade of the goods to be delivered
D. they have failed to specify the price of the goods to be delivered

23) When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of
the following:
A. Cover
B. Specific Performance
C. Lawsuit for Money Damages
D. Revoking Acceptance

24) Which of these is not a requirement for disclaiming a warranty?
A. Statutory authorization
B. A conspicuous writing
C. Explaining why the warranty is being disclaimed
D. Including the word merchantability if merchantability is to be disclaimed

25) "What if everyone took these same actions" is a question sometimes called the
A. universalization approach

Reference no: EM13925519

Questions Cloud

A firms preferred stock pays an annual dividend : A firm's preferred stock pays an annual dividend of $4, and the stock sells for $73. Flotation costs for new issuances of preferred stock are 7% of the stock value. What is the after-tax cost of preferred stock if the firm's tax rate is 35%?
Receivable will be uncollectible : Assume instead that Rogala uses the aging of accounts receivable method and estimates that $82 of its Accounts Receivable will be uncollectible
Describe how you might go about that process : Describe how you might go about that process. Just need logical explanation, don't make any blender just the point need answer.
Net cash from financing activities : The first month of operation showed the net cash from operating activities to be $3,760, the net cash from investing activities to be ($5,415), and the ending cash balance to be $3,425. The net cash from financing activities must be:
The rain significantly safer due to reduced : The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by t..
Prepare the general journal entry to record payment : Prepare the general journal entry to record payment of the wages.
After-tax cost of debt for a new issue of bonds : The coupon rate on an issue of debt is 8%. The yield to maturity on this issue is 9%. The corporate tax rate is 38%. What would be the approximate after-tax cost of debt for a new issue of bonds?
What is the firms dividend : Firm X has a tax rate of 25%. The price of its new preferred stock is $70 and its flotation cost is $4.00. The cost of new preferred stock is 12%. What is the firm's dividend?
What is your optimal level of residual risk : You have a residual risk aversion of lR = 0.12 and an information ratio of IR = 0.60. What is your optimal level of residual risk? What is your optimal value added?

Reviews

Write a Review

Business Law and Ethics Questions & Answers

  Why was the employers questioning this employee illegal

Why was the employer's questioning this employee illegal? If, as it appears, the termination was based on the employee's disability, is there any way the employer could defend its actions

  What other factors might influence stevens decision

To assist Steven with making an educated decision about which medication to take, complete the following: What are potency and efficacy, and how are they different

  Identify the various cyber crimes that would apply in a

the last primer you will prepare for your departments training series will give your colleagues a background on the

  Select a business organization from the fortune 500

Select a business organization from the Fortune 500 which is of interest to you and ensure that you will be able to obtain the necessary information about its strategy, business model, and performance (much of this information can be obtained from th..

  What is the role of the victim in investigating crime

Of all the suggested characteristics required for an effective investigator, which three are the most critical? Are these qualifications more stringent than those required for a patrol officer? What is the role of the victim in investigating crime

  How does this doctrine act as an exception to the elements

how does this doctrine act as an exception to the elements and requirements of a contract? why does this doctrine

  Does the fetus have rights

Does the fetus have rights? If yes, on what ethical basis are disputes between the rights of the fetus and the rights of the pregnant woman to be settled

  Explain intoxicated contracts and liability

Explain Intoxicated Contracts and Liability and Under the doctrine of strict liability, liability is imposed strictly according to fault

  Explain the structure of the appellate courts

explain in what trial court(s) in the state you would file specific types of claims. Additionally, explain the structure of the appellate courts in your state, naming each level of appeals court, if there is more than one level

  Which school of jurisprudential thought best supports

Constitution be interpreted narrowly and literally, as originally written? Why? Which school of jurisprudential thought best supports YOUR answers? Why

  In 2013 hal furnishes more than half of the support of his

1.under the income tax formula a taxpayer must choose between deductions for agi and the standard

  What documents will you need to review to accomplish this

you are on a roll the chief of police continues to be impressed with your work. he has hired you again to extend your

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd