Law > EXAM > LAW 531 Final Exam (All)

LAW 531 Final Exam

Document Content and Description Below

1) Which of the following is a distinguishing feature of a common law legal system? A. Requiring guilt be proven beyond a reasonable doubt B. The sole source of law is a comprehensive civil code... C. An appeal process D. The making of law by the judges and the following of precedent 2) Which best describes the types of agency authority held by officers of a corporation? A. Vicarious authority B. Express and obvious authority C. Implied and apparent authority only D. Express, implied, and apparent authority 3) If an LLC fails to follow formalities such as keeping minutes of meetings, which of the following is true? A. Only the managers of a manager-managed LLC will lose limited liability. B. All members will lose their limited liability. C. This failure will not result in imposing personal liability on any member. D. Only the parties responsible for the failure will lose limited liability. 4) Martha started a flower shop as a sole proprietor. After 1 year, she was forced to close the shop because business was so bad. At that time, the business assets totaled $50,000, but the business liabilities totaled $125,000. Which of the following statements is true? A. Martha is personally liable for the additional $75,000. B. Martha’s business creditors can collect only the $50,000 of business assets. C. Martha’s business creditors can collect only the $50,000 now, but if Martha ever goes into business again, they can get the assets of the new business. D. Once Martha terminates the sole proprietorship, the business creditors cannot even get the $50,000 5) Partners of a general partnership A. are protected from litigation against the partnership by statute B. are liable for the obligations of the partnership only to the extent of their capital contributions C. do not have to pay taxes on the profits of the partnership that are distributed to them D. are liable for all the obligations of their partnership 6) Which of the following forms of alternative dispute resolution allows both parties to see the strengths and weaknesses of both sides of the case through the presentation of evidence? A. Negotiated settlement B. Minitrial C. Mediation D. Conciliation 7) A ___________ is a court-appointed party who conducts a private trial and renders a judgment A. fact-finder B. arbitrator C. judicial referee D. negotiator 8) What is a form of alternative dispute resolution that is often used when the parties involved do not want to face one another? A. Arbitration B. Fact-finding C. Minitrial D. Conciliation 9) Which of the following is true regarding mediation? A. A mediator often meets with both parties at the same time B. A settlement agreement is never reached with a mediator. C. A mediator does not make a decision or award D. If a settlement agreement is not reached in mediation, then the parties hire a new mediator 10) There are no accountants on the board of the Oriole Corporation, a privately held corporation. The board routinely relies on a Certified Public Accountant (CPA) to explain the financial situation of the corporation. The board does not do an independent analysis of the CPA’s report. In these circumstances, the board is A. violating a duty of loyalty B. violating a duty to exercise due care C. violating the business judgment rule D. not violating any duty 11) Self-dealing by a director of a corporation can best be described as A. A breach of a director's duty of notification B. A breach of a director’s duty of care C. A breach of the Business Judgment Rule D. There was no breach of duty 12) Which of the following is likely to be a breach of a corporate officer’s or director’s duty of care? A. Failing to anticipate a precipitous drop in consumer demand of the company’s product B. Failing to make a reasonable investigation of relevant facts C. Failing to predict the unexpected startup of a new competitor D. Failing to foresee a sudden rise in the interest rate 13) In what ways may officers and directors be protected by the corporation from liability for actions taken as an officer or director? A. The officer or director must purchase personal liability insurance to cover such losses. B. Have the corporation purchase liability insurance and indemnify the officers and directors C. Officers and directors cannot be protected from liability D. Officers and directors are automatically protected from liability by virtue of corporate 14) If a plaintiff voluntarily participates in a risky activity that results in injury, what is the most likely defense to a claim that the plaintiff assumed the risk? A. Contributory negligence B. Defendant was negligent per se C. Defendant assumed the risk under the “danger invites rescue” doctrine D. Comparative negligence 15) Mark is the treasurer of Sky-Hi Tech Corporation and, as such, he is responsible for protecting the assets of the corporation. One of Mark’s subordinates, Jill, is in charge of reconciling the monthly corporate bank statements. Over a period of several months, Jill embezzled a large amount of money from Sky-Hi Tech, covering up the theft using her bank reconciliations. If Mark had adequately supervised Jill, she could not have embezzled this money. Mark’s actions (or inactions) constitute a breach of his duty of A. due care B. obedience C. loyalty D. good business judgment 16) Barry buys a new sports car. The car sits low to the ground and because of the styling, visibility to the rear is limited. About a month after Barry buys the car, he backs over his pet poodle as he is leaving for work. In his strict liability suit against the car manufacturer, Barry will A. win because driving a sports car is an inherently dangerous activity B. win on the basis of design defect C. win on the basis of packaging defect because the car could have been packaged in a differently styled body D. lose because he assumed the risk of backing up in a car when he could not see to the rear 17) If a judge rules that a party lost its case because of the Statute of Frauds, the judge has essentially stated which of the following? A. The losing party purposely deceived the other party about a material fact. B. The losing party will not be allowed to introduce evidence to contradict a written agreement C. The losing party cannot enforce an oral contract that should have been in writing D. The losing party was found by the court to have lied, and therefore will lose the case 18) What does the parol evidence rule do? A. It limits the ability of parties to written contracts from introducing certain evidence related to the contract. B. It sets the rules for admissibility of evidence relating to releasing a criminal from a prison term C. It sets the general rules for the admissibility of evidence in criminal actions D. It determines which contracts are required to be in writing 19) ABC LLC and XYZ Corp. entered into a contract whereby ABC is to supply XYZ with widgets. After receiving the first shipment of widgets, XYZ finds that the widgets, while meeting the physical standards specified in the contract, do not perform as XYZ anticipated. The contract is silent as to performance specifications, but XYZ suspects that ABC knew that it was manufacturing and supplying widgets that would not perform according to industry standard. XYZ initiates a lawsuit against ABC, alleging that ABC knowingly supplied defective widgets. What process will XYZ use to help it develop its case against ABC? A. Pleadings B. Motion for summary judgment C. Discovery D. Trial 20) Under the Employee Retirement Income Security Act (ERISA), an employee’s benefits must vest A. within 10 years B. by the time of the employee’s retirement C. in total within 5 years or gradually within 7 years D. only as provided in the pension plan 21) Which of the following statutes provides that it is legal for employees to organize a union? A. The Norris-LaGuardia Act B. The National Labor Relations Act C. The Labor-Management Relations Act D. The Worker Adjustment and Retraining Notification Act 22) William was a factory worker at the Spruce Industries plant. When management found out that William is gay, he was fired. The plant’s action is A. not prohibited under federal law B. a violation of Title VII C. a violation of the Equal Pay Act D. a violation of the Americans with Disabilities Act 23) Janet is manager of a bank. She has all the qualifications to be promoted to bank manager. In fact, she is better qualified than any of the men being considered for the position. However, the owner of the bank believes that bank customers will not accept a woman as bank manager, so the owner promotes one of the males. The owner’s actions would best be described as what? A. Quid pro quo B. Hostile work environment C. Gender discrimination D. Pregnancy discrimination 24) Which one of the following statutes allows a prevailing party to recover attorney’s fees in an action against the government for an action of an agency? A. The Freedom of Information Act B. The Government Compensation Act C. The Administrative Procedure Act D. The Equal Access to Justice Act 25) Which of the following would prevent someone from acquiring land by adverse possession? A. The person never had to fight the original owner to remain on the land B. The person lived on the land secretly so that the original owner would not find out he or she was there C. The person lived on the land without the original owner’s permission D. The person was the only person who lived on the land in question 26) Which of the following would be classified as tangible personal property, as opposed to other property categories, such as fixtures or intangible property? A. A freestanding desk B. Built-in cabinets in an office C. A copyright to a literary work D. A field of corn 27) As the CEO of a high tech company, you become aware that your chief competitor is working on a new computer program that will revolutionize your industry. You know that if you can find out several key functions about the new product, your own programmers will be able to duplicate the function of the program without actually copying its code. Which of the following actions can you ethically take? A. Paying the garbage company to deliver the competitor’s garbage to you B. Hiring a former employee of the competitor and paying her a bonus to tell you the competitor’s secrets C. Hiring a researcher to review all available information about the competitor, including patents, types and names of employees hired, reports by the competitor, including all SEC filings D. Hacking into the competitor's computer systems to find out what you need 28) From a practical perspective, what are some of the elements of Sarbanes-Oxley? A. Ensuring transparency, accountability and internal controls B. Ensuring companies are profitable C. Ensuring that CEOs do not make more than 10 times the lowest paid employee D. Ensuring that large shareholders do not have board representation 29) Under Title IX of the Sarbanes-Oxley Act, the penalty for someone who certifies “any statements as set forth in subsections (a) and (b) of this section knowing that the periodic report accompanying the statement does not comport . . .” is A. no more than $1,000,000.00 or imprisoned no more than 10 years, or both B. no more than $500,000.00 or imprisoned no more than 6 months, or both C. no more than $2,000,000.00 or imprisoned no more than 3 years, or both D. no more than $5,000,000.00 or imprisoned no more than 20 years, or both 30) Which is prohibited under the Sarbanes-Oxley Act? A. High salaries for corporate executives B. Using an independent accounting firm for audit purposes C. Public companies making personal loans to their directors and executives D. Directors and executives attending board meetings on a regular basis [Show More]

Last updated: 1 year ago

Preview 1 out of 9 pages

Reviews( 0 )

Recommended For You

 *NURSING> EXAM > Relias Dysrhythmia Basic Test Answers 2023 Dysrhythmia – Basic A ( A+ GRADED 100% VERIFIED) (All)

preview
Relias Dysrhythmia Basic Test Answers 2023 Dysrhythmia – Basic A ( A+ GRADED 100% VERIFIED)

Relias Dysrhythmia Basic Test Answers 2023 Dysrhythmia – Basic A ( A+ GRADED 100% VERIFIED)

By kian biden , Uploaded: Jan 29, 2024

$9.5

 *NURSING> EXAM > ATI PN comprehensive predictor 2020/2021 180 Questions And Answers.(SCORE A GUARANTEED) (All)

preview
ATI PN comprehensive predictor 2020/2021 180 Questions And Answers.(SCORE A GUARANTEED)

Ati PN comprehensive predictor 2020/2021 180 Questions And Answers.(SCORE A GUARANTEED)

By Rixx Dennis , Uploaded: Nov 17, 2021

$46

 *NURSING> EXAM > NURS 6512 Advanced Health Assessment and Diagnostic Reasoning Final Exam- Walden University (All)

preview
NURS 6512 Advanced Health Assessment and Diagnostic Reasoning Final Exam- Walden University

NURS6512 - Advanced Health Assessment & Diagnostic Reasoning Advanced Health Assessment Final Exam Q & A what is the leading cause of mortality in teenagers? - motor vehicle accidents ho...

By quiz_bit , Uploaded: Apr 30, 2021

$13

 Anatomy> EXAM > BSC 2346 A & P Module 5 Mid Term Exam; Latest Complete Solution Guide; Rasmussen College. (All)

preview
BSC 2346 A & P Module 5 Mid Term Exam; Latest Complete Solution Guide; Rasmussen College.

BSC 2346 A & P Module 5 Mid Term Exam Mid Term- Module 5 Which choice best describes the function of the haversian (central) canals within bone? What statement is NOT true regarding synovial...

By Expert#1 , Uploaded: Feb 11, 2020

$11

 *NURSING> EXAM > ATI Comprehensive Predictor (Study This One!) (All)

preview
ATI Comprehensive Predictor (Study This One!)

ATI Comprehensive Predictor Quizlet/ATI Comprehensive Predictor Quizlet/ATI Comprehensive Predictor Quizlet/ATI Comprehensive Predictor Quizlet

By Rixx Dennis , Uploaded: Mar 07, 2021

$15

 *NURSING> EXAM > NR 501 Nursing Theory Week 8 Quiz (All)

preview
NR 501 Nursing Theory Week 8 Quiz

NR501 Week 8: Nursing Theory Quiz Week 8: Nursing Theory Quiz Question 1 A statement of beliefs and values about human beings and their world is: An assumption A concept A hypothesis A philosophy Ques...

By QUIZ BIT , Uploaded: Jun 23, 2021

$10

 *NURSING> EXAM > Nutrition Proctored-Questions and Answers (2020) (All)

preview
Nutrition Proctored-Questions and Answers (2020)

Nursing 160 Nutrition Proctored-Questions and Answers/Nursing 160 Nutrition Proctored-Questions and Answers /Nursing 160 Nutrition Proctored-Questions and Answers

By Rixx Dennis , Uploaded: Jan 20, 2021

$12

 *NURSING> EXAM > HESI Med Surg Exam 2023, Med-Surg HESI Exam (All)

preview
HESI Med Surg Exam 2023, Med-Surg HESI Exam

HESI Med Surg Exam (CHECK THE LAST PAGE FOR MULTIPLE VERSIONS OF THE EXAM AND OTHER HESI EXAMS) A nurse is assisting with the care of a client who has a femur fracture and is in skeletal traction....

By Maxquizer , Uploaded: Jul 18, 2021

$9

 *NURSING> EXAM > RN ATI Capstone Comprehensive Assessment A: The Actual Exam. Individual Performance Profile. (All)

preview
RN ATI Capstone Comprehensive Assessment A: The Actual Exam. Individual Performance Profile.

RN ATI Capstone Comprehensive Assessment A: The Actual exam. Individual Performance Profile AREAS OF REVIEW STUDY Management of care Safety and infection control Health promotion and maintance Ps...

By QuizMaster , Uploaded: Aug 10, 2020

$9

 Business> EXAM > HSA 546 Final Exam Part 1 and 2 . 25 Questions for Part 1 and 25 Questions for Part 2. (Questions and Answers) (All)

preview
HSA 546 Final Exam Part 1 and 2 . 25 Questions for Part 1 and 25 Questions for Part 2. (Questions and Answers)

HSA 546 Final exam Part 1 and 2 (Questions and Answers) • Question 1 4 out of 4 points The six primary categories of __________ in the office practice are professional, personnel, property, fi...

By YourTutor , Uploaded: Feb 18, 2021

$11

$4.00

Add to cart

Instant download

Can't find what you want? Try our AI powered Search

OR

GET ASSIGNMENT HELP
87
0

Document information


Connected school, study & course



About the document


Uploaded On

Dec 29, 2019

Number of pages

9

Written in

Seller


seller-icon
CHRIS

Member since 4 years

723 Documents Sold


Additional information

This document has been written for:

Uploaded

Dec 29, 2019

Downloads

 0

Views

 87

Document Keyword Tags

THE BEST STUDY GUIDES

Avoid resits and achieve higher grades with the best study guides, textbook notes, and class notes written by your fellow students

custom preview

Avoid examination resits

Your fellow students know the appropriate material to use to deliver high quality content. With this great service and assistance from fellow students, you can become well prepared and avoid having to resits exams.

custom preview

Get the best grades

Your fellow student knows the best materials to research on and use. This guarantee you the best grades in your examination. Your fellow students use high quality materials, textbooks and notes to ensure high quality

custom preview

Earn from your notes

Get paid by selling your notes and study materials to other students. Earn alot of cash and help other students in study by providing them with appropriate and high quality study materials.

WHAT STUDENTS SAY ABOUT US


What is Browsegrades

In Browsegrades, a student can earn by offering help to other student. Students can help other students with materials by upploading their notes and earn money.

We are here to help

We're available through e-mail, Twitter, Facebook, and live chat.
 FAQ
 Questions? Leave a message!

Follow us on
 Twitter

Copyright © Browsegrades · High quality services·