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28. Which of the following is a true statement? a. An
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28. Which of the following is a true statement?
a. An invitation to negotiate usually will be construed as constituting an offer to enter into a contract.
b. Under the common law, an offer ordinarily does not need to be communicated to the offeree to be effective.
c. An agreement under the common law of contracts usually consists of an offer and an acceptance.
d. In most states in the U.S., the revocation of a contract is not legally effective until it is actually received by the offeree.
29. Pat and Don submit their dispute to binding arbitration. A court can set aside the arbitrator’s award if
a. Don is not satisfied with the award.
b. Pat is not satisfied with the award.
c. the award involves at least $75,000.
d. the award violates public policy or if bad faith was involved.
30. Which of the following is true?
a. Because of the commerce clause, states do not have any power to regulate commerce.
b. In order for the federal government to have power to regulate commerce, that commerce must actually cross state lines.
c. The states’ police power gives states the power to regulate intrastate and certain interstate business occurring within their borders.
d. Although a state cannot regulate interstate commerce within its borders, it has full power to prevent interstate business activities within its borders.
31. What may be included in the articles of incorporation as an optional provision?
a. The address of the corporation's initial registered office in the state.
b. The names and addresses of the incorporators.
c. The par value of the stock or any statement that it shall have no par value.
d. The name of the corporation.
32. In order to be enforceable, a covenant-not-to-compete must be reasonable in each of the following aspects except:
a. Length of time the restriction is in effect.
b. Scope (i.e. interests protected) by the restriction.
c. Amount paid to the one who gives up the right to compete.
d. Geographic area of the restriction.
33. A non-essential term of an offer under the common law may be the
d. Subject Matter
34. Which of the following is a false statement?
a. The breach of duty element in the test for negligence liability in the U.S. is governed predominantly by the reasonable person standard.
b. The doctrine of res ipsa loquitur can apply if an event causing the harm normally does not occur in the absence of negligence.
c. A battery occurs only if the victim suffers actual serious physical harm, that is, the victim is “battered.”
d. One may be able to recover damages for emotional distress in a tort lawsuit for negligence.
35. 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.
36. The collective name for nonjudicial resolution of disputes is:
c. Alternative dispute resolution.
d. The people’s court.
37. Which of the following generally does not need to be included with the articles of incorporation?
a. The period duration of the corporation.
b. The classes and preferences of stock.
c. Whether preemption rights are given to the stockholders.
d. A copy of the bylaws.
38. The doctrine which applies when one person confers a benefit on another who retains the benefit in a situation where it would be unjust to allow the recipient to retain the benefit is known as:
39. The graphics used in “Grave Raiders,” a computer game, are best protected by
a. copyright law.
b. patent law.
c. trademark law.
d. trade secrets law.
40. A contract that one party may avoid without being in breach is
41. Rita calls Sam on the phone and agrees to buy his laptop computer for $400. This is
a. an express contract.
b. an implied-in-fact contract.
c. an implied-in-law contract.
d. a quasi contract.
42. Central Business Corporation was incorporated in Delaware, has its main office in New Jersey, and does business in New York. Central is subject to the jurisdiction of
a. Delaware, New Jersey, or New York.
b. Delaware or New Jersey only.
c. Delaware or New York only.
d. New Jersey or New York only.
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