LAW531 LAW/531 Final Exam (Latest, New Classroom) Updated 3/4/2014 - 52329

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  1. What are the two categories of government regulations that pertain to businesses?
  2. In a survey of the nonattainment areas in the state, the agency found Helmont to be the district that exceeded the ozone standard by the largest margin. Helmont is most likely to be categorized as a(n) ________ nonattainment area.
  3. In which type of franchise does the franchisor give the franchisee a license to make and sell its products from a retail outlet for an exclusive geographical territory?
  4. The federal Privacy Act provides that federal administrative agencies can
  5. George, Jerry, and Harry are passengers on a flight from Chicago to New York. They injure their legs when their seatbelts do not fasten during takeoff. The airline is sued by all three together for injuries caused and the airline is found to be negligent and is directed by the court to pay damages to the injured parties. Which of the following parties is entitled to recover maximum damages?
  6. Which of the following doctrines allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed and performance is necessary to avoid injustice?
  7. Which of the following policies helps a corporate officer from being sued for honest mistakes made on behalf of a corporation?
  8. Generally, the action committed by a corporate officer or director in his or her violation of the fiduciary duty of care is what type of action?
  9. A bona fide occupational qualification is required to be
  10. ________ is a rule which states that judges of one country cannot question the validity of an act committed by another country within that other country’s borders.
  11. A minor can be obligated to pay the reasonable value for the purchase contract of which of the following?
  12. Which of the following actions taken by a company with monopoly power would give rise to a cause of action for monopolization or attempt to monopolize?
  13. The Sarbanes-Oxley Act requires the chief executive officer and the chief financial officer of a public company to personally certify that the financial reports of the company do not contain any false or materially misleading statements as to the operation and financial condition of the company. A violation of the act can result in which of the following penalties?
  14. Which of the following is true of a Limited Liability Company (LLC)?
  15. What legal article or theory allows a teacher in a public school to use the copyrighted materials of another person without that creator’s permission?
  16. Which of the following is true of an arbitration clause?
  17. A sales contract has been breached whereby only 75% of the money has been received for the delivered goods because that is what he believes the fair value to be. The party subject to the breach wants to collect the remainder of the money owed. What is the best legal course of action for him to pursue?
  18. Bartie’s, Inc. sells watercolors and pastels that are marketed as safe for use by children. However, several accounts of lead poisoning were reported in children who used the products. An investigation revealed that the company was knowingly manufacturing colors that contained toxic amounts of the heavy metal. Which of the following torts has Bartie’s, Inc. committed?
  19. A(n) ________ is a clause that can be included in the articles of incorporation that permits the corporation to engage in any activity permitted by law.
  20. Armex, a large power plant, has been in the news for a potential defect in the construction of its inner chambers that caused radioactive fumes to escape from the plant to the surrounding areas. This has endangered the lives of the employees at the plant and those staying in nearby areas. What entity is likely to take up this safety violation for corrective action, such as closure of the plant?
  21. John is a country music songwriter who composes a song entitled “Busted, Rusted Heart” in which the melody is similar to that of the 1990s hit by Billy Ray Cyrus, “Achy Breaky Heart.” The words also parallel and make fun of the words in the original song. Does John commit copyright infringement if he performs his song and sells copies of it?
  22. Spring Stream sells bottled water that it claims contain vital minerals and salts not found in rival brands. The company also does not use tamperproof seals because they claim that tamperproof seals minimize the health benefits of the water. As a result, many establishments refill these water bottles with contaminated water and sell them again. People who drink the water suffer from various waterborne diseases. Which of the following forms the grounds on which affected customers can bring a strict liability lawsuit against Spring Stream?
  23. Which of the following statements is true of NAFTA?
  24. What is the definition of illegal consideration?
  25. The tort of defamation of character requires a plaintiff to prove that the defendant
  26. Which of the following is true about supramajority voting requirements?
  27. Who first drafted the Uniform Commercial Code and when was it drafted?
  28. An entity’s achievement of strategic and operational objectives is subject to
  29. Which of the following statements best represents the distinction between binding and nonbinding arbitration?
  30. Allenby Spares, Inc. is a shop that sells spare automotive parts from various manufacturers. A customer buys a faulty brake manufactured by TurboDiezel, Inc. from Allenby Spares and is involved in an accident due to the use of the faulty brake in his vehicle. Which of the following is true of this situation?
Solution Description
  1. What are the two categories of government regulations that pertain to businesses?
  2. In a survey of the nonattainment areas in the state, the agency found Helmont to be the district that exceeded the ozone standard by the largest margin. Helmont is most likely to be categorized as a(n) ________ nonattainment area.
  3. In which type of franchise does the franchisor give the franchisee a license to make and sell its products from a retail outlet for an exclusive geographical territory?
  4. The federal Privacy Act provides that federal administrative agencies can
  5. George, Jerry, and Harry are passengers on a flight from Chicago to New York. They injure their legs when their seatbelts do not fasten during takeoff. The airline is sued by all three together for injuries caused and the airline is found to be negligent and is directed by the court to pay damages to the injured parties. Which of the following parties is entitled to recover maximum damages?
  6. Which of the following doctrines all
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