Question 1

It takes only a small increase in the price of cigarettes to reduce demand by a significant amount.

Accepted Answer

A) True 
 B)False  False

Question 2

Punitive damages are particularly useful in discouraging manufacturers from making unsafe products.

Accepted Answer

A) True 
 B)False  True

Question 3

If a case has been adjudicated,then it is pending in court.

Accepted Answer

A) True 
 B)False  False

Question 4

A contract can be enforced only if it has:

Accepted Answer

A) one party has agreed to the contract. 
B) one party must agree to perform some act. 
C) both parties must be over age 25. 
D) the purpose of the contract must be legal. 
A) one party has agreed to the contract. 
B) one party must agree to perform some act. 
C) both parties must be over age 25. 
D) the purpose of the contract must be legal.

Question 5

Liability in civil cases must be established by proof beyond a reasonable doubt.

Accepted Answer

A) True 
 B)False

Question 6

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

Accepted Answer

A) True 
 B)False

Question 7

McGovern believes we are too convinced about safety and environmental issues.

Accepted Answer

A) True 
 B)False

Question 8

The law assumes that,when performing employment duties,an employee is under the control of the employer.

Accepted Answer

A) True 
 B)False

Question 9

Laws and practices making it possible to resolve disputes without taking them to trial are meant to _____.

Accepted Answer

A) maximize individual freedom 
B) provide a basis for compromise 
C) facilitate planning 
D) facilitate orderly change 
A) maximize individual freedom 
B) provide a basis for compromise 
C) facilitate planning 
D) facilitate orderly change

Question 10

If you suffer injury because of a defective product you may file a product liability claim.

Accepted Answer

A) True 
 B)False

Question 11

Laws are designed to serve a general function that is the promotion of justice for businesses.

Accepted Answer

A) True 
 B)False

Question 12

As business partners,Peggy and Maria have a legal relationship where either one of them is authorized to act for the other and under that person's control.This is called _____.

Accepted Answer

A) agency 
B) a contract 
C) business law 
D) bankruptcy 
A) agency 
B) a contract 
C) business law 
D) bankruptcy

Question 13

In court,the _____ is the party filing the complaint,while the _____ is the party charged in the complaint.

Accepted Answer

A) district attorney / criminal 
B) accuser / accused 
C) defendant / plaintiff 
D) plaintiff / defendant 
A) district attorney / criminal 
B) accuser / accused 
C) defendant / plaintiff 
D) plaintiff / defendant

Question 14

State and Federal statutes can also be criminal statutes.

Accepted Answer

A) True 
 B)False

Question 15

Intentional torts against economic interests include all of the following except _____.

Accepted Answer

A) making a false statement of material fact about a business product 
B) enticing someone to breach a valid contract 
C) going into business for the sole purpose of taking business from another concern 
D) all of the above are intentional torts against economic interests 
A) making a false statement of material fact about a business product 
B) enticing someone to breach a valid contract 
C) going into business for the sole purpose of taking business from another concern 
D) all of the above are intentional torts against economic interests

Question 16

Which of the following is NOT one of the requirements of a legal contract?

Accepted Answer

A) Mutual agreement 
B) Both parties must possess legal capacity to assume contractual duties 
C) Each agrees not to cause harm or unreasonable risk to the other party 
D) Each must exchange something of legal value 
A) Mutual agreement 
B) Both parties must possess legal capacity to assume contractual duties 
C) Each agrees not to cause harm or unreasonable risk to the other party 
D) Each must exchange something of legal value

Question 17

The punishment in tort cases is the monetary compensation that the court orders the defendant to pay the plaintiff.

Accepted Answer

A) True 
 B)False

Question 18

If a LuLu's Diner employee spills scalding hot coffee on a customer causing third degree burns,the owner of LuLu's Diner is held responsible for the employee's actions.

Accepted Answer

A) True 
 B)False

Question 19

Statutory laws are made by legislative bodies.

Accepted Answer

A) True 
 B)False

Question 20

A contract is _____.

Accepted Answer

A) an exchange of a promise for an act 
B) is legally enforceable 
C) must have an offerer and an offeree 
D) all of the above 
A) an exchange of a promise for an act 
B) is legally enforceable 
C) must have an offerer and an offeree 
D) all of the above

It takes only a small increase in the price of cigarettes to reduce demand by a significant amount.

Punitive damages are particularly useful in discouraging manufacturers from making unsafe products.

If a case has been adjudicated,then it is pending in court.

A contract can be enforced only if it has:

Liability in civil cases must be established by proof beyond a reasonable doubt.

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

McGovern believes we are too convinced about safety and environmental issues.

The law assumes that,when performing employment duties,an employee is under the control of the employer.

Laws and practices making it possible to resolve disputes without taking them to trial are meant to _____.

If you suffer injury because of a defective product you may file a product liability claim.

Laws are designed to serve a general function that is the promotion of justice for businesses.

As business partners,Peggy and Maria have a legal relationship where either one of them is authorized to act for the other and under that person's control.This is called _____.

In court,the _ is the party filing the complaint,while the _ is the party charged in the complaint.

State and Federal statutes can also be criminal statutes.

Intentional torts against economic interests include all of the following except _____.

Which of the following is NOT one of the requirements of a legal contract?

The punishment in tort cases is the monetary compensation that the court orders the defendant to pay the plaintiff.

If a LuLu's Diner employee spills scalding hot coffee on a customer causing third degree burns,the owner of LuLu's Diner is held responsible for the employee's actions.

Statutory laws are made by legislative bodies.

A contract is _____.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

Filters

Exam 17: The Legal and Regulatory Environment of Business

It takes only a small increase in the price of cigarettes to reduce demand by a significant amount.

Punitive damages are particularly useful in discouraging manufacturers from making unsafe products.

If a case has been adjudicated,then it is pending in court.

A contract can be enforced only if it has:

Liability in civil cases must be established by proof beyond a reasonable doubt.

Tort reform is a movement to stem the swelling tide of personal-injury litigation in the U.S.

McGovern believes we are too convinced about safety and environmental issues.

The law assumes that,when performing employment duties,an employee is under the control of the employer.

Laws and practices making it possible to resolve disputes without taking them to trial are meant to _____.

If you suffer injury because of a defective product you may file a product liability claim.

Laws are designed to serve a general function that is the promotion of justice for businesses.

As business partners,Peggy and Maria have a legal relationship where either one of them is authorized to act for the other and under that person's control.This is called _____.

In court,the _____ is the party filing the complaint,while the _____ is the party charged in the complaint.

State and Federal statutes can also be criminal statutes.

Intentional torts against economic interests include all of the following except _____.

Which of the following is NOT one of the requirements of a legal contract?

The punishment in tort cases is the monetary compensation that the court orders the defendant to pay the plaintiff.

If a LuLu's Diner employee spills scalding hot coffee on a customer causing third degree burns,the owner of LuLu's Diner is held responsible for the employee's actions.

Statutory laws are made by legislative bodies.

A contract is _____.

The Foundations of Business

Entrepreneurship

Selecting a Form of Business Ownership

Business Ethics and Social Responsibility

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Product Design and Development

Operations Management in Manufacturing and Service Industries

Business in a Global Environment

Marketing: Providing Value to Customers

Operating in a Digital Marketing and Social Networking

The Role of Accounting in Business

Managing Financial Resources

Teamwork and Communications

Personal Finances

Managing Information and Technology

Filters

In court,the _ is the party filing the complaint,while the _ is the party charged in the complaint.