Question;Question 1;1. Which of the;following is the most correct statement of the requirements;for a bona fide occupational qualification?;Job;related and cost effective.;Job;related and nondiscriminatory.;Job;related and a business necessity.;Rationally;based and evenly and ethically applied.;Question 2;1. Ron is a;director of Standard Company. Ron has a right to;compensation.;first;refusal.;participation.;preemption.;Question 3;1. "Fundamental;corporate change" consists of;a.;Amending;the articles of incorporation;b.;Merging;with another corporation;c.;Dissolution;and termination of the corporation;d.;All;of the above.;1. Which of the;following is truerelating to a "firm offer" under;the UCC?;It;can be made only by a merchant.;It;must be in writing and signed by the merchant.;It;may provide that the offer remain open for any period of time up to four;months.;A;and B only.;Question 5;1. Which of the;following is a true statement?;A.;Powers;not given to the states by the U.S. Constitution are reserved for the federal;government in Washington, D.C.;B.;The;states in the United States are not permitted to have their own constitutions;because doing so could conflict with the U.S., that is, federal constitution.;C.;The;U.S. Congress has the power to create administrative agencies.;D.;The;doctrine of stare decisis means that one should not intently;stare at a co-worker of the opposite sex since one might be sued for sexual;harassment.;Question 6;1. The jury returns a;verdict against X Corporation, in its suit against Y, Inc. X can file a;motion for;a;directed verdict.;a;judgment on the pleadings.;a;new trial or for a judgment notwithstanding the verdict.;summary;judgment.;Question 7;1. Horizontal;price-fixing occurs when;One;or more companies charge the same prices for goods at all their stores for an;unreasonable length of time.;A;manufacturer requires its independent retail dealers to sell its products at;a given price.;A;company with the entire market on a patented product sells the product at a;fixed price.;Two;or more competing companies agree on the prices they will charge for their;products.;Question 8;1. If the buyer breaches;the contract before the goods are completed, the seller can;Complete;the goods and resell them.;Stop;work on the goods and resell them as scrap.;Recover;damages from the buyer.;A;B and C.;Question 9;1. Which of the;following best describes the requirements of a partnership?;An;association of persons, owning property, sharing gross receipts.;An;association of persons, owning and managing a business in order to make a;profit.;An;association of persons, owning property in order to make a profit.;An;association of persons.;Question 10;1. Which of the;following are required elements to the common law tort of negligence?;a.;Duty;and breach of duty;b.;Factual;and proximate (also called legal) causation;c.;Damages;d.;All;of the above.;Question 11;1. Who can be deemed;liable for trading on material inside information based on U.S. securities;laws?;a.;Misappropriators;of inside information;b.;Insiders;and tipees in conspiracy with insiders;c.;Inadvertent;tipees who are in a fiduciary relationship with the disclosing party;d.;All;of the above.;Question 12;1. Which of the;following can be deemed to be a product defect pursuant to strict liability;tort law?;a.;The;lack of a warning or the lack of an adequate warning on a product.;b.;A;flawed product, that is, one that does not meet the manufacturer's own;standards for that product.;c.;A;product that does not incorporate state-of-the-art safety modifications which;are feasible economically and practically to do.;d.;All;of the above.;Question 13;1. The elements of a;valid contract are;a.;Mutual;agreement and consideration;b.;Capacity;and legality;c.;A;writing if the Statute of Frauds applies;d.;All;of the above.;Question 14;1. Which of the;following most likely is illegal discrimination pursuant to Title VII of the;federal Civil Rights Act?;a.;Not;considering applicants for manufacturing sales positions because of their;religious beliefs in incarnation.;b.;Not;hiring applicants for sales positions who are smokers of tobacco products.;c.;Not;hiring gay, lesbian, bisexual, or transgender employees.;d.;Not;hiring candidates whether male or female who are parents when extensive;travel is involved with the position.;Question 15;1. Which of the;following is true about the Sherman Act?;Liability;under Section I for restraint of trade requires agreement with another party;but liability under Section 2 for monopolization does not.;Liability;under the Section 2 for monopolization requires agreement with another party;but liability under Section I for restraint of trade does not.;Liability;under either Section I or Section 2 requires agreement with another party.;A;business can be liable under either Section I or Section 2 without any;agreement with another party.;Question 16;1. Which of the following is a true statement?;A.;Death;of an agent or the principal terminates an agency only after notification of;death is received by the living party.;B.;An;agency coupled with an interest usually terminates on the death of the;principal.;C.;An;agency coupled with an interest is usually revocable by the principal.;D.;Revocation;of authority is done by the principal whereas renunciation of the authority;is done by the agent.;Question 17;1. The bargained-for;element of a contract is best legally construed as;The;price;The;offer;The;consideration;The;intent;Question 18;1. A contractual clause;establishing an amount of prospective damages for breach is best described;legally as;Mitigation;of damages;Liquidated;damages;Against;the law;Limitation;of damages;Question 19;1. In an ordinary;merger, what approvals generally are needed?;Recommendation;by both boards of directors and votes of the shareholders of each corporation.;Votes;by both boards of directors, but shareholders need not approve.;Vote;by the board of directors of the surviving corporation, and for the;corporation which does not survive, recommendation by the board of directors;and vote by the shareholders.;For;both corporations, a vote by the shareholders, but no action by the board of;directors.;Question 20;1. Consequential damages;are;Awarded;to give the nonbreaching party the ?benefit of the bargain.?;Are;fixed in an amount prior to an actual breach.;Arise;from foreseeable consequences related to the contract and its breach.;Are;not awarded in the case of personal services contracts.;Question 21;1. Which of the;following is not true regarding common law?;The;common law of the United States originally came from England.;Judges;must strictly follow precedent in all cases.;A;drawback of common law is that legal decisions may be followed after they have;become outdated or no longer relevant.;Common;law is called common law because judges in England were intended to apply;laws similarly is all jurisdictions, thereby making the law common to all.;Question 22;1. The purpose of a;proxy is to;Allow;a shareholder to transfer shares to another.;Allow;a shareholder to place shares in trust.;Allow;a shareholder to assign her right to vote to another.;Allow;a shareholder to assign her dividends to another.;Question 23;1. Which of the;following is the most accurate statement?;The;offeree?s rejection of an offer terminates it as a general rule under the;common law.;An;offeror can revoke an option contract if the offeror decides that the;consideration given for it was inadequate.;Revocation;of an offer made to the general public must be communicated in a large;metropolitan newspaper, such as the Miami Herald, New York Times, or;Washington Post.;Offers;are irrevocable under the common law for a three month period.;Question 24;1. Which of the;following is a false statement?;A.;One;of the major functions of the U.S. Constitution is to limit the government?s;ability to interfere with individual rights.;B.;The;concept of federalism means that the federal government holds all of the;government power.;C.;Enumerated;powers consist of express powers given to Congress.;D.;Federal;statutes take precedence over state constitutions.;Question 25;1. An oral contract in;which Sally agrees to work for Jane for the rest of Jane's life is;A;guaranty contract.;Unenforceable;under the Statue of Frauds because it cannot possibly be performed within one;year.;Enforceable;under the Statute of Frauds.;A;and C only.;Question 26;1. What is a FALSE;statement regarding monopolization analysis pursuant to Section 2 of the;Sherman Act?;a.;One;generally cannot be guilty of or liable for monopolization without having a;monopoly first.;b.;One;can have a monopoly but not have monopoly power and thus not be a;monopolizing company.;c.;All;monopolies are illegal since they are inherently unfair to consumers.;d.;Wrongful;conduct by a monopoly to establish the legal wrong of monopolization includes;illegal AND unethical, predatory, or abusive conduct (which is not;necessarily illegal).;Question 27;1. The doctrine in;negligence law which shifts the burden of proof from the plaintiff to the;defendant is;Negligence;per se.;Res;ipsa loquitur.;Apparent;negligence.;Good;Samaritan.;Question 28;1. A plaintiff in;a fraudulent misrepresentation case must prove all of the following except;A.;Reasonable;and justifiable reliance;B.;False;statement of material fact;C.;Intent;to deceive;D.;Physical;injury.;Question 29;1. Which of the;following is true about punitive damages?;They;are generally not available for breach of contract claims.;They;are awarded only if consequential damages are also awarded.;They;are awarded where specific performance is not available.;Their;purpose is to give the nonbreaching party the benefit of the bargain.;Question 30;1. Corporations;typically are required to hold shareholders? meetings at least;Annually;Every;six months.;Twice;a year, but they are not required to be held every six months.;Quarterly.;Question 31;1. Which of the;following would constitute a valid acceptance?;The;buyer tells the seller that the nonconforming goods which were shipped will;be kept and paid for.;The;buyer waits for three months before notifying the seller that the goods are nonconforming.;The;buyer immediately resells the nonconforming goods.;A;B and C.;Question 32;1. Which of the;following is a truestatement?;A.;The;doctrine of caveat emptor means: Let the buyer beware.;B.;The;law presumes that a seller who makes a statement about goods is just giving;his or her opinion unless the seller clearly says that he or she is making a;statement of fact.;C.;Implied;warranties do not apply to the sale of goods.;D.;The;implied warranty of merchantability applies only to the goods themselves, and;not to the manner in which they are packaged or labeled.;Question 33;1. When is an employer;responsible for the negligent torts of its employees?;a.;When;there is vicarious liability and the doctrine of respondeat superior applies.;b.;When;the torts are committed by the employee acting in the "course and scope;of employment.;c.;When;the employer is directly negligent for selecting and/or supervising an;incompetent and careless employee who commits the tort.;d.;All;of the above.;Question 34;1. Under typical state;corporation law a director may be removed;only;for cause.;with;or without cause but only in a close or closely-held corporation.;with;or without cause by the shareholders;only;if expressly permitted by the articles of incorporation.;1. By which of the;following methods may a corporation not be dissolved?;By;unanimous written consent of all the shareholders.;By;an act of the legislature of the state of incorporation.;By;the courts, if the directors are hopelessly deadlocked.;By;the courts, if the corporation refuses to pay dividends for the fiscal year.;Question 36;1. Which of the;following is a false statement?;A;franchisor can impose certain quality standards on a franchisee.;Some;business forms and organizations in the U.S. offer limited liability to their;owners and investors.;Many;states in the U.S. now permit business persons to operate as a limited;liability company (LLC).;No;capital can be raised through an offering of stock in the U.S. without the;principals first registering the shares with the Securities and Exchange;Commission and obtaining the agency?s approval.;Question 37;1. The best statement;of the test applied in determining if a defendant was the proximate cause of;the plaintiff?s injuries is;Was;it foreseeable to the plaintiff that the defendant would engage in this;particular conduct?;Given;this particular injury to the plaintiff, was it foreseeable that the;defendant was the cause?;Was;it reasonably foreseeable to the defendant that the defendant?s conduct could;lead to this kind of injury?;Was;the injury foreseeable to the plaintiff prior to the injury?s occurrence?;Question 38;1. Which of the;following is correct about Venue?;It;is an alternative to meeting jurisdiction requirements.;Its;requirements must be met in addition to meeting jurisdiction requirements.;In;most cases, venue selection is up to the defendant.;It;allows a party to select the court most likely to decide a case in its favor.;Question 39;1. Which of the;following is/are TRUE about performance of a contract?;a.;Under;the UCC, the performance of a sales contract must meet the "perfect;tender" rule.;b.;Under;the common law, the performance of a construction contract must meet the;substantial performance" doctrine.;c.;Under;the common law, a contract with a time for performance must be performed as a;general rule on the contract date or a reasonable time thereafter.;d.;All;of the above are true.;Question 40;1. Which of the;following statements is false?;To;bring a legal action in the U.S. against an employer for intentional;discrimination based on the Civil Rights Act, the employee must demonstrate;that he or she is a member of a protected class.;The;Family and Medical Leave Act provides up to 15 weeks of paid leave for U.S.;workers who experience the birth of a child or who undergo a serious illness.;The;National Labor Relations Board decides whether a bargaining unit is;?appropriate? for a union election in the U.S. by primarily determining if a;community of interest exists among the workers in the potential unit.;Requiring;equal pay for equal work for different sexes is part of U.S. labor and;discrimination law.
Paper#59164 | Written in 18-Jul-2015Price : $42