Reference no: EM131038099

Business Management - Legal Political Exam

1. If the state of California and the federal government both passed laws or regulations related to the sale of video games, which would prevail and why? Discuss the relationship between the states and the federal government, and which has priority. When do the States have the right to regulate?

Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.

2. Should plaintiffs be able to recover from cigarette manufacturers for smoking-related illnesses? Are there variables that should affect the manufacturers' liability? What are they? What effect should the warnings on cigarette packages have on the outcome? Discuss the various theories of recovery (strict liability, warranty theory, etc) and any possible defenses the tobacco companies could argue. It might be beneficial if you discussed some of the tobacco litigation cases which have been decided by the Courts throughout the years. Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.

3. Under contract law in the U.S., certain types of contracts must be in writing to be enforceable in court. What is the legal designation of such a contract in the U.S.? List and define the five types of contracts that must be in writing.

4. Discuss the purposes of unions and whether they are effective tools to serve their purposes. Please analyze the Wagner Act of 1935, the Taft-Hartley Act of 1947 and the Landrum-Griffith Act of 1959.

What can and cannot be done by management when an election is pending for union representation? What would constitute unfair labor practices by a union? By management? Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.

5. What changes should be made to copyright law to reflect the ease with which much creative material can be reproduced and distributed over the Internet? What concerns are there with any such law? What might be done with the Fair Use Doctrine?

How about alterations to the laws regarding trademarks, trade names and trade dress? What effect might internet dissemination have on that area?

Finally with so much information available on the internet, what revisions should be made to the laws relating to patents?

Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.

6. The Sherman Act of 1890 provided the basic Federal Statute for prosecution and ultimate dissolution of the Standard Oil Trust in 1911, which had functioned as a monopoly controlling 92% of the oil and natural gas business in the United States; also known as the great clash between President Theodore Roosevelt and Exxon Founder John D. Rockefeller. This famous Supreme Court case was followed by the Clayton Act of 1914, which sought to prevent formation of future monopolies, and outlined a number of prohibited business activities. A century later lawyers, economists, and other business people continue to debate the goals and/or benefits of antitrust legislation, and resulting court decisions. Discuss the provisions of both Sections 1 and 2 of the Sherman Act and also the vertical integration rules under the Clayton Act Section 7. When is a monopoly deemed to exist? Are all monopolies violations of the law? What are possible defenses under these Acts? What is predatory pricing? What action would constitute a restraint of trade? What are tying arrangements? Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.

7. Compare and contrast the theories of liability for insider trading under the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. Who exactly is an insider? What are the possible penalties for violating the Act? Include a discussion of some of the major cases in this area such as Dirks, Chiarella and Winans. Are there any defenses? Analyze and evaluate the various issues presented while arguing and debating the connections between business, law, politics, and ethics.