Reference no: EM13871364

Question 1. Generally, which power(s) does (do) an administrative agency possess?

all powers necessary to effectively perform the duties entrusted to it

legislative only

judicial only

executive only

Question 2. A contract is said to be executory when

it is in writing

it is under seal

all of the obligations thereunder have been performed

any of the obligations thereunder remain to be performed

Question 3. A bilateral contract consists of a:

promise for a future act

promise for refraining from acting

promise for a promise

promise to contract in the future

Question 4. The ethical category of integrity and truthfulness is best expressed as:

maintaining ones values and principles so long as profits can be maintained.

maintaining ones values and principles so long as the costs are not great.

maintaining ones values and principles unless deviating will go unnoticed.

maintaining ones values and principles despite the consequences or cost.

Question 5. Which of the following has been linked with the long-term growth and profitability of business organizations?

High standards for product quality

High standards for employee welfare

High standards for customer service

All of the above

Question 6. An offer may be terminated by

a revocation of the offer by the offeror

lapse of time

death or disability of either party

all of the above

Question 7. Consideration is:

the concern shown by the other contracting party

what is determined by the promisor as the price for the promise

a stated number of dollars

the concern of both contracting parties for the protection of the environment

Question 8. A deposition:

is the testimony of a witness taken under oath

is conducted outside the court room

can be used to impeach a witness

all of the above

Question 9. A motion for summary judgement can be filed when:

the defendent fails to file an answer to the complaint

the plaintiff fails to conduct discovery

when there is no disputed issue of material fact in the case

none of the above

Question 10. Statutory law is written by:

Congress and other legislative bodies

judges

governmental agencies

the president

Question 11. An administrative regulation:

Is a guideline that may be voluntarily followed

Has the force of law

Is a suggestion that will protect the environment

Is a standard used to govern industry

Question 12. A regulation adopted by a federal administrative agency is binding if:

It has been printed in the Federal Register

The persons affected have received copies of it

The persons affected have notified the agency of their approval of the regulation

Publicity has been given to it by the news media

Question 13. An obligation to pay the reasonable value of services rendered when there is no contract would be called:

quasi-contractual

quasi-enforceable

semi-enforceable

valid

Question 14. Consideration to support a contract generally requires

an adequate exchange

a reasonable price

an agreed exchange

none of the above

Question 15. When one party has broken a contract, there are remedies, which include:

Bringing an action for damages

Rescinding the contract

Seeking specific performance

All of the above

Question 16. An express warranty is:

a statement by the seller which is the basis of the bargin

a statment by the seller which must include the words express warranty

a statement by the seller which must be made before the sale occurs

none of the above

Question 17. A buyer may revoke acceptance of goods:

and not give notice of the revocation to the seller

if the goods are substantially impaired

and the parties are required by law to go to court to resolve questions related to their rights and responsibilities under the contract

none of the above

Question 18. The obligations of the parties to a sales contract include:

The seller's duty to deliver the goods to the buyer's place of business

The buyer's duty to always accept the goods

The seller's duty to arrange for appropriate transport

The buyer's duty to pay for the goods

Question 19. One party to a contract permitting the other party to continue performance without objecting that the performance is unsatisfactory is an example of a(n):

Waiver

Breach

Anticipatory repudiation

Forbearance

Question 20. Disparate impact exists when facially neutral employment practices:

Adversely impact a protected group

Intentionally discriminate against a protected group

Favorably impact a protected group

Intentionally impact unfavorably a protected group but the activity is business related

Question 21. Hostile working environment sexual harassment:

Cannot be created by unwelcome sexual flirtations and propositions

Cannot result in an injunction being granted against offensive conduct

Can result in an award of punitive damages

Can result in a business being sold

Question 22. The warranty of merchantability

can be disclaimed

does not apply to the serving for value of food or drink to be consumed on the seller's premises

implies that the goods are fit for all purposes for which such goods are used

all of the above

Question 23. An oral contract can be enforced when it relates to:

The purchase of a television set for $200

The sale of an interest in land for $400

Managing a factory for five years

A promise to answer for the debit of another

Question 24. When a sales contract is broken by the seller, the buyer may

reject the nonconforming goods

revoke acceptance of goods which do not conform to the contract

allow the tender of nonconforming goods to be cured

all of the above

Question 25. The sources of American law include:

state constitutions and the Federal constitution

statutes enacted by state legislatures and the Congress

court decisions and U.S. treaties

all of the above

Question 26. Legal principles expressed for the first time in court decisions are called:

statutory law

stare decisis

common law

case law

Question 27. The Americans With Disabilities Act applies to private employers when:

They have federal contracts

They have been shown to exhibit a pattern of discrimination

They have 15 or more employees

They have contracts with any state agency

Question 28. Parol evidence is generally admissible to explain:

Ambiguous terms

Why signatures are missing

Why a contract was not performed

Implied terms

Question 29. Maria intentionally attempts to have Patty break a contract Patty has with Alfred. Maria will be liable under which theory of tort?

libel

product disparagement

wrongful interference with a contract

infliction of emotional distress

Question 30. Which of the following does not constitute acceptance:

Express statement of approval by the buyer

Examination by the buyer

Retaining goods for an unreasonably long period of time

Modifying the goods

Question 31. Defamation consisting of the publication or communication of false, spoken words is termed:

slander

libel

privilege

perjury

Question 32. Bob sent letters to people randonly slected from the phone book. The letters said "It is agreed that we will paint your house for a price based upon the cost of the materials and our labor." Sue received the letter. Sue and Bob have

a division contract

a contingency contract

an invitation to negotiate

an option contract

Question 33. Among the guidelines for balancing the interests of various stakeholders to resolve ethical dilemmas in business are:

Identify potential parties who could be injured by the proposed action

Define the problem from both the decision maker's viewpoint and the opposing viewpoints

Ask whether you would be willing to describe a proposed action to your family, board of directors, congressional hearings, or other public forum

All of the above

Question 34. Today the following parties may recover damages in product liability cases

the buyer and the buyer's family members

only the buyer

the buyer, the buyer's customers and employees, and other third parites

none of the above

Question 35. If the buyer materially breaches a sales contract

the seller may not cancel the contract until she has given the buyer at least six months to preform

the seller is still obligated to perform

the seller may cancel the contract and the cancellation ends the contract and discharges all unperformed obligations on both sides.

none of the above

Question 36. Philip Laws rented an apartment from Candice Sutton. Laws had notified Sutton on more than one occasion that the wooden steps to his apartment were decaying and in need of repair. Laws claimed that he had to leave the outside light on in order to avoid portions of the steps that would no longer bear his weight when he came in at night. Sutton promised to repair the steps while Laws was away on a business trip. Accordingly, Laws did not leave the lights on during his absence. When he returned three nights later Laws was injured when one of the steps broke under his weight as he was entering his apratment. Laws sued Sutton. Sutton replied that she should not bear full responsibility for Laws' injury, as Laws knew of the condition of the steps, and had not taken the customary precaution of lighting the area.

a. You be the jury. How do you decide?

b. Discuss the applicable law(s) and then apply the law(s) to the material facts in the problem. In discussing the law, describe each element of the law and the facts that apply to each element. Include a discussion of any possible defenses.

Question 37. Sierra and Hannah went snowboarding at Mammoth last winter. On the trip Sierra admired Hannah's snowboard, and told her so. Hannah told Sierra that she was going to buy a new snowboard in the summer and that Hannah would sell this board to Sierra for $300. Sierra agreed to buy the board. That August Hannah bought a new snowboard. She called Sierra and told her she was ready to complete the sale. Sierra responded by saying "What sale?" Hannah reminded Sierra of the conversation they had had that winter about Sierra buying Hannah's old snowboard. Sierra's response was "Oh, I was just admiring your board. I didn't want to buy it."

a. You be the jury. Do Sierra and Hannah have a contract?

b. Discuss the applicable law(s) and then apply the law(s) to the material facts in the problem. In discussing the law, describe each element of the law and the facts that apply to each element.