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Course 371004- Legal Environments of Business
  Final Exam
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371004v - Legal Environments of Business

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Technology & Operations
12 CPE Credit Hours

Final Exam
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Read 'Chapter 1: Introduction To Law' & answer the following question(s):
1. __________________ is not one of basic concepts of law
2. Federal court systems do not include
3. Beth, an employee of City Bank, is charged with embezzlement, which requires
4. A breach of societal duty is known as
5. Elements necessary for a recovery of damages based on deceit include all except
6. Delta Services (DS) is an Internet service provider. On a DS online bulletin board, Ben, a DS customer, posts a defamatory remark about Beta Company. Beta could successfully file a suit against
7. Contracts may not be
8. Offers may be terminated in all except
9. Kay and Lucy enter into a contract that falls within the provisions of the UETA. Under the UETA, “an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record” is
10. On September 27, Summers sent Fox a letter offering to sell Fox a vacation home for $150,000. On October 2, Fox replied by mail agreeing to buy the home for $145,000. Summers did not reply to Fox. Do Fox and Summers have a binding contract?
11. If an acceptance by mail was authorized, it becomes effective when it is deposited in the mail. T F
12. Fraud is a(n) ______________ misrepresentation of a material fact made with the intent to induce another to rely on it.
13. Reality of consent does not cover
14. For a promise to be enforceable by court action it must be
15. Capacity is the ability
16. Situations that produce illegal contracts include all of the following except
17. Illegal contracts are generally void. T F
18. In collateral contracts the party’s performance is required only
19. Assignor’s liability to assignee implies warranties are all except
20. Performance of a contract becomes impossible in all except
21. Types of damages do not include
22. The relinquishing of rights under a contract is known as a “waiver”. T F
23. Forming an agency relationship requires that
24. Major classifications of agency do not include
25. A minor may not appoint and act through an agent. TF
26. The agent is under a duty not to
27. Generally, an agency relationship is terminated by operation of law in all of the following situations except the
28. Which one of the following is not a characteristic of partnerships
29. A partner may not sue another partner or the partnership. T F
30. Corporations may not include
31. The corporation has a legal existence separate from that of its owners. T F
32. Under the Model Act a corporation must have
33. A corporation may be held guilty of committing crimes. T F
34. “Blue sky” laws seek to protect investors from
35. _______________ is not one of the factors that determine shareholder’s voting rights.
36. The officers of the corporation are entitled to vote all un-issued stock. T F
37. Which of the following does not acquire ownership of personal property?
38. A house built on a plot of land is considered a fixture. T F
39. Co-ownership of real property doe not includes
40. Formation applies only to contracts for:
41. Normally, buyers of stolen goods get good title to them as they buy them in good faith and give value for them. T F
42. Liability for negligence does not include:
43. Unless the parties agree otherwise, the buyer has the right to inspect the goods before accepting or paying for them. T F
44. The statute of limitations on the sale of goods under the U.C.C. is limited to
45. To be negotiable an instrument must be all except
46. Types of endorsements do not include
47. A person cannot be held liable on a negotiable instrument unless his/her
48. Security interests in real property do not include
49. Bankruptcy may be
50. Law seeks to protect economic relations from unreasonable interference through federal and state statutes and common law against all except
51. Antitrust laws do not include
52. The Clayton Act specifically prohibits
53. The F.T.C. enforces antitrust laws by
54. The Sherman Act specifically prohibits
55. The purposes of employment law include all except
56. FICA contributions are used to pay for a fund maintained under the Americans with Disabilities Act. T F
57. The primary purpose for enacting workers' compensation statutes was to
58. Workers' compensation laws provide for all of the following benefits except
59. Which of the following statements is correct regarding the scope and provisions of the Occupational Safety and Health Act (OSHA)?
60. Under Title VII of the Civil Rights Act of 1964, a covered entity is prohibited from engaging in employment discrimination on the basis of race, color, religion, national origin, or sex. The practices subject to the act include
Read 'Chapter 2: Crimes And Torts' & answer the following question(s):
Read 'Chapter 3: Contracts And Offer' & answer the following question(s):
Read 'Chapter 4: Consideration' & answer the following question(s):
Read 'Chapter 5: Performance And Remedies' & answer the following question(s):
Read 'Chapter 6: Agency' & answer the following question(s):
Read 'Chapter 7: Partnerships' & answer the following question(s):
Read 'Chapter 8: Incorporation' & answer the following question(s):
Read 'Chapter 9: Real Property' & answer the following question(s):
Read 'Chapter 10: Product Liability' & answer the following question(s):
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