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UOP LAW421 Final exam (Summer 2014)

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Question;Law421 final exam;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;?;automatically terminates due to frustration of purpose;?;automatically;terminates due to impossibility;?;is enforceable and not affected by the new law because it;was entered into before the law took effect;?;automatically terminates due to impracticability;2;Each of the following is a discharge by mutual consent EXCEPT;?;novation;?;accord and satisfaction;?;rescission;?;frustration of purpose;The UCC will permit an incomplete or slightly ambiguous contract;to be enforced using each of the following criteria EXCEPT;?;past commercial conduct;?;industry standards or norms;?;correspondence or verbal exchanges between the parties;?;judicial input of any terms;necessary to maintain fairness;What is the main problem with international courts?;?;Lack of recognition from the U.N. and WTO;?;Finding judges who understand the complexities of international;law;?;Creating a body of law that reflects multiple legal systems;?;Enforcing a ruling on;sovereign nations is difficult;Ben is the manager of a branch of a large bank. He has regularly;taken money from customer's accounts for his own use and changed the bank;records to cover his actions. Ben is guilty of;?;a conspiracy;?;embezzlement;?;a Ponzi scheme;?;racketeering;When a buyer rejects nonconforming goods and purchases the;appropriate goods from a different seller, this is an example of which of the;following;?;Lawsuit for Money Damages;?;Cover;?;Revoking Acceptance;?;Specific Performance;Cybersquatting describes the practice of;?;hacking into a company's website to install a virus or Trojan;horse designed to steal information but allow the site to continue operation;?;using mechanical devises to access a company's website multiple;times to the point that traffic to the site is slowed or blocked;?;hacking into a company's website to install a virus designed to;cause the company's website to totally cease operation;?;registering multiple domain;names and then selling them back to companies at inflated prices;Generally, torts law is governed by;?;state common law;?;federal statutory law;?;state statutory law;?;constitutional law;Stan is an investment manager. He has received money from various;investors with a promise of very high returns on their investments. The;invested money is not supplying enough capital in order to pay the returns;promised, so he has started using new investor's money to pay older investors.;By advertising and by word of mouth, people are anxious to invest with Stan;because of the money being paid, and with the influx of new investors, he is able;to continue operating. Stan is;?;racketeering;?;operating an insider trading operation;?;guilty of conspiracy to defraud;?;operating a Ponzi scheme;Under the U.S. legal system, subject to some exceptions, costs of;litigation regarding both the plaintiff and defendant;?;are all paid by the winner;?;are totaled by the court and then for fairness, split in half with;each side paying an equal amount;?;are all paid by the loser;?;are paid for by each side;with the plaintiff and defendant paying for their own legal costs;Jurisprudence is defined as;?;adjudication of law suits;?;the duties and obligations owed by a citizen;?;the science and philosophy;of law;?;the enactment of laws by a government body;The Sarbanes-Oxley Act (2002) imposed stricter regulations on how;corporations do business through regulations in each of the following areas;EXCEPT;?;financial reporting;?;auditing;?;tax compliance;?;corporate governance;The three stripes on Adidas clothing;represents a;?;trade dress;?;trademark;?;trade secret;?;patent;Joan is the CFO of Para Corp. and is a year from retirement. In;order to guarantee herself a very substantial bonus and to boost her retirement;package, she knowingly certifies false financial reports making the company;appear to be much more profitable than it really is. She further takes steps to;assure that the financial report was not reviewed through internal controls;maintained by Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002);if her fraud is NOT part of a larger scheme, what criminal penalties are;possible for Joan?;?;$2 million in fines and up to 12 years in prison;?;$10 million in fines and up to 20 years in prison;?;$5 million in fines and up to 15 years in prison;?;$1 million in fines and up;to 10 years in prison;Which of the following is rarely awarded in contracts cases?;?;Punitive damages;?;Compensatory damages;?;Consequential damages;?;Liquidated damages;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;?;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;?;is valid because Kansas's right to protect its citizens under its;police powers will override any outside challenges to this law;?;is valid because it only applies to Kansas roads and such a law is;entirely intrastate;?;is invalid because this law is intended to regulate interstate;commerce, an enumerated federal power;The color or shape of an item, if distinctive, is a;?;patent;?;trade dress;?;copyright;?;trademark;The power of preemption is derived from;?;the Supremacy Clause;?;the Necessary and Proper Clause;?;the Commerce Clause;?;the power of judicial review;Which of the following would not be considered tangible?;?;A car;?;The right of ownership;?;The pen or pencil you are using;?;Oxygen;Which of the following does not result in a decision rendered by;the hearing officer?;?;Arbitration;?;Med-arb;?;Using expert evaluators;?;Mediation;21;Assumption of risk is a defense to;?;negligence;?;battery;?;defamation;?;conversion;With regard to consideration in a sales contract, the UCC differs from the;common law in that;?;consideration in a sales contract may be modified as long as;additional consideration is provided;?;consideration is not required in sales contracts;?;consideration exchanged must be equal or very closely equal in;sales contracts;?;consideration in a sales;contract may be modified without additional consideration;What if everyone took these same actions is a question sometimes;called the;?;utilitarian approach;?;universalization approach;?;functionality approach;?;morality approach;Which of the following is classified as an equitable remedy?;?;Restitution;?;Consequential damages;?;Reformation;?;Liquidated damages;Which of these is not a requirement for disclaiming a warranty?;?;Statutory authorization;?;Including the word merchantability if merchantability is to be;disclaimed;?;A conspicuous writing;?;Explaining why the warranty;is being disclaimed;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?;?;Maria has received unjust enrichment so a quasi contract is;formed, so she must pay.;?;This is an implied, unilateral contract, so she must pay.;?;Maria would not have to pay;anything.;?;The court would make Maria pay the reasonable cost of the work to;be fair to both parties.;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;?;they have failed to specify the quality or grade of the goods to;be delivered;?;they have failed to specify where delivery of the goods is to be;made;?;they have failed to;specify the price of the goods to be delivered;?;they have failed to specify when payment for the goods is to be;made;28;The utilitarian approach;to moral philosophy was founded by;?;Cicero;?;Jeremy Bentham;?;Immanuel Kant;?;Kenneth Lay;The Digital Millennium Copyright Act (1998) provided each of the;following protections EXCEPT;?;civil and criminal penalties were established for those who sell;or manufacture products or services that circumvent antipiracy software;?;restrictions were placed on analog recorders and camcorders that;lack antipiracy features;?;ISPs were relieved of liability for copyright infringement by;their users as long as the ISP had no knowledge of the infringement;?;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;Where a promise can only be accepted by the performance of the person to whom;it is offered is an example of a/an;?;quasi contract;?;implied contract;?;bilateral contract;?;unilateral contract

 

Paper#58942 | Written in 18-Jul-2015

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