Question 1. When statutes are passed only after considerable study, de

1. When statutes are passed only after considerable study, debate and public input, this is an example of which function of the law?

2. The Federal Trade Commission is an example of:

3. What was the U.S. Supreme Court’s reaction to a case where a business executive was found guilty of aiding and abetting in the bribery of an Internal Revenue Service Agent even though the Internal Revenue Service agent had been found not guilty of the bribery in a separate trial?

4. Which of the following is not one of the Caux Round Table Principles for International Business?

5. Which of the following statements is true regarding the relationship of law and ethics?

6. What did the appeals court rule when General Motors was sued in Ypsilanti, Michigan?

7. In general, the courts in a civil law system play a much larger role in making law than in a common law system.

8. Most federal circuits of the federal appellate court system are determined based on:

9. An inferior trial court is one that:

10. In a negligence action, all parties in the product’s chain of distribution are liable for the injury, even if only one party was negligent.

11. To be successful in a negligence cause of action, the plaintiff must prove that the defendant breached a duty of care that caused the plaintiff’s injuries.

12. Which of the following could not give rise to a strict liability in tort action for products liability?

13. A contract provision that relieves a party to the contract from liability is known as:

14. Which of the following is generally true about exculpatory clauses?

15. An exculpatory clause releasing a white water adventure rafting company from liability for all injuries it causes is:

16. Which of the following correctly describes a certificate of deposit?

17. Where must the signature appear on a negotiable instrument in order to meet the signature requirement?

18. What characteristics are necessary for a draft to be a check?

19. A buyer agrees to purchase “two cars” from an elevator company. All material terms are contained in a written contract, but “two cars” is not further defined. Which of the following evidence can be admitted if there is a dispute over what “two cars” refers to?

20. A retailer ordered some inventory by phone from a manufacturer. The order was for 1,000 machines from the manufacturer’s inventory at $300 each. The manufacturer sent the retailer a fax moments later detailing the order. The retailer looked at the fax and was satisfied that it stated the terms of the contract, but never responded in any way. When the goods were delivered on time a month later, the retailer refused to accept them, asserting that the contract was unenforceable. Which is true?

21. A homeowner orally contracted to buy some custom made parts that the homeowner will use to build a retaining wall in the homeowner’s back yard. The contract price for these materials was $2,000. The buyer refused to take delivery even though they were conforming. The seller is unable to sell these parts to anyone else because they were individually designed for the homeowner. In a lawsuit against the homeowner by the seller of the parts:

22. When an LLC desires to do business in another state, it must obtain a(n):

23. Which of the following is true when a general partnership is converted to an LLC?

24. Which types of businesses can be converted to an LLC?

25. What is RICO?

26. Under The Racketeer Influenced and Corrupt Organizations Act:

27. Mary was at a party given by friends of her boyfriend. It was summer and the guests spent most of the time outdoors. Mary fell in love with a crystal serving dish being used, and when no one was looking, slipped it into her purse. She took the dish home and placed in her kitchen cabinet. Under the definitions under common law, what crimes has Mary committed?

28. John buys a particular issue of stock that carries a stated dividend rate of 8 percent per year; that if this dividend is not paid during a particular year, it will not be paid in a subsequent year before common stock dividends are paid; that John can exchange the stock for common stock in the future, at a specified exchange price; and that if the corporation wants to, it may buy the stock back from John at $50 per share. This stock is best described as:

29. Mary is planning to form a corporation to manufacture and distribute electric solar panels. She will sell the panels only in the Rocky Mountain states. These panels will be manufactured at two factories, one in Illinois and one in Florida. The headquarters of this company will be in Louisiana. In which state(s) could Mary incorporate this business?

30. The DEF Corporation is incorporated in Texas. It wishes to do business in Oklahoma. Before DEF can legally do business in Oklahoma, which of the following must it do?

31. Which of the following best describes the employment at will doctrine?

32. What is generally the effect when an exception to the employment at will doctrine applies?

33. Under the employment at will doctrine, an employment relationship can be terminated:

34. Which of the following employers have been expressly excluded from Title VII?

35. Which of the following items is a legal justification for paying unequal wages based on gender?

36. Which is true about the two kinds of discrimination that are actionable under Title VII?

37. In general, trademark protection is granted based on whether the trademark is:

38. What federal legal protection is there with respect to trade secrets?

39. When can an ordinary word such as “window” be granted trademark protection?

40. Under the Occupational Safety and Health Act:

41. An at-will employee being threatened with termination if the employee does not violate a law at the direction of the employer would be protected under which exception to the employment at will doctrine?

42. Company handbooks have been found to amount to a(n) ___________ exception to the employment at will do

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