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Question 1 Which of the following is not true?Answer The plaintiff s required level of proof to win a civil trial is greater than in a criminal trial.The victim of a crime may be able to bring a civil lawsuit against the alleged criminal.After a criminal defendant has been found not guilty, the victim may still bring a civil suit for damages against the same defendant if the victim has not already done so.Procedural protections for defendants are greater in criminal cases than in civil cases.Question 9 The person empowered by the corporation to receive notice of lawsuits against it, is called the:Answer Incorporator.Promoter.Registered agent.President.Question 10 In a suit between Delta Data Company and Eagle Information, Inc., the court applies the doctrine of stare decisis. This requires the court to find cases that, compared to the case before it, haveAnswer entirely different facts.no facts, only conclusions of law.precisely identical facts.the same or similar facts.Question 11 Which of the following is true regarding contracts?Answer A contract that is completely performed by all parties is called an executory contract.A contract that has been completely performed by one party, but not the other, is called an executed contract.A contract that has been performed by A but not by B is executory as to B and executed as to A.To be enforceable, a contract must be executed.Question 12 Ellen assigns to Fred her rights under a contract with Gil. Ellen's rights under the contractAnswer are extinguished and set up in Fred.continue until the contract is fully executed.continue until Gil performs his obligations under the contract.continue until Fred receives Gil's performance.Question 14 Which of the following events cause the dissolution of a partnership?Answer Admission of a new partner.A partner assigning her partnership interest to a nonpartner.A creditor obtaining a charging order.A partner's demand for an accounting.Question 15 Andy is an officer for Beta Corporation. When acting for Beta in ordinary business situations, Andy isAnswer an agent only.an agent and principal.a principal only.neither an agent nor a principalQuestion 17Nora signs a contract to provide routine lawn-mowing services to Owen. Nora delegates her duty under the contract to Pat. Owen can compel performance fromAnswer neither Nora not Pat.Nora only.Pat only.Pat or, if Pat does not perform, Nora.Question 18 A wholesale distributor who is named in a product liability suit based on strict liability could avoid liability if:Answer The plaintiff had not purchased the product causing the injury.The distributor exercised reasonable care in all ways with respect to the product causing the injury.This product had been used for many years by other users without injury.This defect which caused the injury occurred after the product left the distributor.Question 19 X offers to sell Y a computer. Y sends an acceptance via the mail. This acceptance is generally effective when it isAnswer in transit.received.sent or dispatched.written.Question 23 Which of the following is not a correct statement?Answer Under the principle of comity, a foreign business that deals with a U.S. business in the U.S. may be subject to U.S. law.Alternative dispute resolution refers to methods for resolving a dispute outside the traditional court system.An arbitrator can never render a legally binding decision since he or she is not a traditional judge. Most online dispute resolution services automatically apply the laws of India since that country is well known as a "high-tech" academic and business centerQuestion 24 Which of the following is a false statement?Answer Essentially, corporate income is taxed twice when it is distributed to shareholders as dividends under U.S. tax and business laws.A limited liability company (LLC) limits the liability of its members in the United States for business debts.A general partnership for liability purposes is not usually considered a legal entity apart from its owners under U.S. laws.Agreements to form a partnership always must be written under U.S. laws since there could be disagreements between partners otherwise.Question 25 Which of the following is a false statement?Answer The U.S. Constitution expressly states that Congress has the power to regulate interstate commerce. When state regulations in the U.S. impinge on interstate commerce, commerce must yield to the state regulations, no matter how heavy the burden placed on the commerce since states possess sovereignty within their borders. When there is a direct conflict between a federal and state law in the U.S., the state law is rendered invalid.
ISome federal constitution protections in the U.S. apply to business entities such as corporations.Question 26Which of the following is a true statement?Answer The Federal Trade Commission is the federal agency in the U.S. that is empowered to prevent and punish unfair and deceptive marketing and advertising practices in trade or commerce.The Consumer Products Safety Commission in the U.S. prohibits manufacturers from selling and marketing products unless they are marked with the agency's official "seal of approval."Common law legal doctrines no longer apply to polluters in the U.S. since they are so big and powerful and thus can only be regulated by federal statutory law.An environmental impact statement is required in the U.S. for all federal and state government development projects and for all proposed federal and state legislation.Question 27 The bylaws of a corporation:Answer Take precedence over the article of incorporation.Must be filed in the appropriate state office.Are not binding on the officers and directors of the corporation.Govern the internal management of the corporation and typically would include the time and place of the annual shareholder's meeting.
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I would be happy to add a nice bonus for help on these:
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.
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.
Where the articles of incorporation are silent as to what constitutes a quorum of shareholders at a shareholders' meeting, what typically is a quorum?
The articles must provide for the amount that constitutes a quorum.
A majority of the shares entitled to vote.
Two-thirds of the shares entitled to vote.
One-third of the shares entitled to vote.
Which of the following is a true statement?
Criminal law focuses on duties that exist between private persons.
The prosecution in a criminal case in the U.S. needs only establish by a preponderance of the evidence that the defendant committed the crime.
Criminal liability frequently depends on a specific state of mind or intent.
All promises are legally binding contracts based on common law notions of criminality for promise-breaking.
Hyppolite Haitian Art Gallery offers to sell a very nice "market scene" painting to Joanne for $425. Joanne is interested and asks the owner, Hyppolite: "Does the price include the frame." Hyppolite answers in the negative. Under the common law of contracts, Joanne's statement can best be characterized as a:
A counter-offer terminating the offer.
A rejection of the offer.
An inquiry having no affect on the offer.
A stupid question since the painting was framed anyway.
Jim and Gail contract for the sale of 500 computers. The agreement states, "The obligations of the parties are conditional on Gail obtaining financing from First Bank by August 1." This clause likely is
a condition precedent.
a condition subsequent.
a concurrent condition.
not a condition.
Mary is an administrative law judge (ALJ) for the National Labor Relations Board. In hearing a case, Mary has the authority to make
decisions binding on the federal courts.
determinations of fact.
new statutory laws.
new rules and regulations.
Standard Delivery employs Tina as a driver. While driving within the scope of employment, Tina causes an accident in which Vic is injured. Vic can recover from
neither Standard nor Tina.
Standard or Tina.
Victor properly assigns his contract right with Seller to receive goods at his place of business to Amiee, whose place of business is out of the country. Both Victor and Seller live and do business in the same state. Victor has paid for the goods and notifies Seller of the assignment. But Seller refuses to ship the goods to Aimee since the shipping and insurance charges will be much more for an out-of-country shipment. When Aimee does not receive the goods, she sues Seller for breach of contract. The likely result of such a lawsuit will be:
Seller will prevail since assignees like Aimee cannot sue in their own name since the assignor must join the lawsuit.
Seller will prevail since the assignment will result in a material increase in the obligor's performance duties.
Aimee will win if the assignment was written and Aimee paid a fair price for the assignment.
Aimee will lose since contract assignments are typically prohibited by state statute.
Tech, Inc., sells its brand-name computer equipment directly to its franchised retailers. Depending on how existing franchisees do, Tech may limit the number of franchisees in a given area to reduce intrabrand competition. Tech's restriction on the number of dealers likely is
a per se violation of the Sherman Act.
exempt from the antitrust laws.
subject to continuing review by the appropriate federal agency.
subject to the rule of reason.
Trevor and Chris form a contract by a series of e-mails culminating in the contract and their "electronic signatures" in bold. The contract otherwise is fine, and they print out "hard copies" for their records; but an issue arises as to whether this "e-contract" is a valid one. This contract is:
Invalid since the common law requires all contracts to be in paper, signed on the paper, and under seal.
Generally valid in the United States by means of the federal E-Sign law.
Valid but only if two witnesses are willing to testify that they saw each party sign electronically.
Invalid under the Statute of Frauds due to the potential for deceit.
Mountain Boots, Inc., and National Shoe Company orally agree to a sale of 100 pair of hiking boots for $5,000. National gives Mountain a check for $500 as a down payment. At this point, the contract is
enforceable to at least the extent of $500.
fully enforceable because it is for specially made goods.
fully enforceable because it is oral.
At one time, Office Depot merged with Staples, leaving Office Max as a very small remaining competitor. This merger was deemed to be illegal pursuant to the Clayton Act because:
The market was defined broadly to include all stores that sell office supplies.
The market was defined narrowly to include just office supply "super-stores."
There was the probability of a substantial lessening of competition in the market.
B and C.
Best Toy Company begins marketing a new toy that is highly flammable. The Consumer Product Safety Commission may
ban the toy's future manufacture and sale, and order that the toy be removed from the market.
ban the toy's future manufacture and sale only.
do nothing until there is an injury or damage on which to base an action.
order that the toy be removed from the market only.
Curt, personnel director for Digital Products, Inc., prefers to hire Asian Americans, because "they're smarter and work harder" than other minorities. This is pro¬hibited by
the Age Discrimination in Employment Act of 1967.
the Americans with Disabilities Act of 1990.
Title VII of the Civil Rights Act of 1964.
none of the above.
Stephanie and Melissa agree to have their business disputed mediated. The mediator carefully listens to both parties and then makes a recommendation favoring Melissa. Stephanie refuses to accede to the mediator's recommendation. What can Melissa do?
Sue Stephanie for fraud and deceit for not obeying the mediator.
Nothing since mediation is generally not binding.
Sue Stephanie for breach of contract for not agreeing with the mediator's recommendation.
Request that the state attorney general prosecute Stephanie for theft for wasting her and the mediator's valuable time.
Procedures used in South Dakota and other states in making government decisions to take life, liberty, or property are the focus of constitutional provisions covering
procedural due process.
substantive due process.
the right to privacy.
Gina attends a local gym where she leaves her car keys on a key rack which is unattended but near the check-in counter. After her workout she discovers that her keys and car are missing. She calls the police. Several hours and several miles away the police spot the car and begin a hig-speed chase. The car thief runs a red light and crashes into Terry, who is injured. Terry sues Gina and the local gym for the tort of negligence. Their strongest defense to the lawsuit would be:
Lack of a duty of due care.
Lack of proximate causation.
Lack of factual causation.
The presence of comparative negligence by the police.
Greg agrees to make bookshelves for Holly, who tells Ira that she will guarantee payment for whatever supplies Greg orders from Ira for the shelves. Holly's promise is enforceable
only if it is in writing.
only if it is oral.
whether it is oral or in writing.
under no circumstances.
Dan, a doctor, renders aid to Eve, who is injured. Dan can recover the cost from Eve
even if Eve was not aware of Dan's help under quasi-contract.
only if Eve was aware of Dan's help.
only if Eve was not aware of Dan's help.
Home Interiors, Inc. (HII), tells Jan, whose business is purchasing for others, to select and buy $200 worth of certain goods and ship them to HII's office. Jan buys the goods from Brand Name Products Store and ships them as di¬rected, keeping an account for the expense in HII's name. HII and Jan
do not have an agency relationship, because Jan's business is buying for others.
do not have an agency relationship, because Jan did not indicate that she was acting for Baron.
do not have an agency relationship, because their agreement is not in writing.
have an agency relationship.
General Contractor Corporation (GCC) begins constructing a building for High-rise Apartments, Inc. In mid-project, GCC asks for $150,000 more, claiming an increase in ordinary business expenses. High-rise agrees. This agreement generally is
enforceable as an accord and satisfaction.
enforceable because of the unforeseen difficulties.
unenforceable as an illusory promise.
unenforceable due to the preexisting duty rule.
Dan assigns to Evan a contract to buy a used car from Fran. To be valid, the assignment must
be in writing and be signed to Dan.
be supported by adequate consideration from Evan.
not be revocable by Dan.
not materially increase Fran's risk or duty.
Thanks just in case I think you missed answering the last one #19
I have four question left and then we done. Is a Bonus of $50 fair?
The requirement that goods tendered to a buyer must conform in all ways to the terms of the contract is called the:
Complete Performance Rule
Perfect tender rule.
No right to curve rule
Substantial performance rule.
Which of the following is a false statement?
A merchant can disclaim the implied warranty of merchantability.
If the seller is not a merchant, and the goods are not to be moved, then the risk of loss passes to the buyer on tender of delivery of the goods plus notification.
If the seller is not a merchant, and the seller holds the goods, and the buyer is to pick them up, then the risk of loss passes to the buyer when the buyer acquires good title to the goods.
If a seller is a merchant, and the goods are not to be moved, the risk of loss passes to a buyer when the buyer takes physical possession of the goods.
Unless specifically agreed upon by the partners, which of the following rights do partners not have?
Participation in management.
Sharing in partnership profits.
Salaries or other compensations.
The return of capital.
Regarding differences under the UCC in the treatment of merchants and nonmerchants, which is true?
The UCC requires merchants' contracts to be in writing, but not those of nonmerchants.
The consideration requirement has been eliminated for contracts between merchants, but is still present in contracts involving at least one nonmerchant.
between merchants, but is still present in contracts involving at least one nonmerchant.The consideration requirement has been eliminated for contracts
That would be great! Thanks!
I couldn't tell which was the correct answer for this #19 above:
be supported by adequate consideration from Evan
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