Question 1

Why should bankruptcy only be used as a last resort?

Accepted Answer

For companies and individuals who survive bankruptcy,lingering issues remain that involve establishing a new credit rating.Until a good credit rating can be reestablished,banks and other lenders may not extend credit at all,or will offer loans with higher interest rates.

Question 2

Chapter 11 bankruptcy ________.

Accepted Answer

A)  requires that the business ceases operation 
B)  allows a business to pay its creditors over time 
C)  is the most common form of bankrupty for individuals 
D)  demands that creditors be paid within 3-5 years 
E)  can only be filed voluntarily 
A)  requires that the business ceases operation 
B)  allows a business to pay its creditors over time 
C)  is the most common form of bankrupty for individuals 
D)  demands that creditors be paid within 3-5 years 
E)  can only be filed voluntarily B

Question 3

Domenica had a tree on her property that blocked Mark's view of the lake across the street from his house.Mark got more and more annoyed by the tree's presence until the day he cut down the tree when Domenica was at work.Domenica is able to sue Mark for intentional tort.

Accepted Answer

A) True 
 B)False  True

Question 4

All of the following are true of constitutional law EXCEPT

Accepted Answer

A)  it is the written text of the U.S. Constitution 
B)  it is the foundation of U.S. law 
C)  it is the written text of the Bill of Rights 
D)  it is written law determined by the legislative branch of the government 
E)  all other laws fall subordinate to it 
A)  it is the written text of the U.S. Constitution 
B)  it is the foundation of U.S. law 
C)  it is the written text of the Bill of Rights 
D)  it is written law determined by the legislative branch of the government 
E)  all other laws fall subordinate to it

Question 5

Traditional copyright law effectively protects books,music,film,art in the digital age.

Accepted Answer

A) True 
 B)False

Question 6

What does "UCC " stand for?

Accepted Answer

A)  Uniform Commercial Code 
B)  Unintentional Commerce Claim 
C)  Unfair Contract Consideration 
D)  Undue Copyright Challenge 
E)  Union Corporation Credit 
A)  Uniform Commercial Code 
B)  Unintentional Commerce Claim 
C)  Unfair Contract Consideration 
D)  Undue Copyright Challenge 
E)  Union Corporation Credit

Question 7

Which of the following people would most likely be in favor of tort reform?

Accepted Answer

A)  a parent whose child has elevated lead levels due from a toy made in China 
B)  a lawyer who just won a multimillion-dollar case on behalf of customers injured by defective curling irons 
C)  an advocate who is concerned about the ability of injured parties to be fairly compensated for their damages 
D)  an analyst who feels that the cost of litigation is driving up the cost of insurance 
E)  a consumer who wants to have easy access to file a lawsuit should he be injured by a faulty product 
A)  a parent whose child has elevated lead levels due from a toy made in China 
B)  a lawyer who just won a multimillion-dollar case on behalf of customers injured by defective curling irons 
C)  an advocate who is concerned about the ability of injured parties to be fairly compensated for their damages 
D)  an analyst who feels that the cost of litigation is driving up the cost of insurance 
E)  a consumer who wants to have easy access to file a lawsuit should he be injured by a faulty product

Question 8

Can anyone enter into a business contract?

Accepted Answer

All parties entering into the contract m

Question 9

A customer was dissatisfied after an experience at a hair salon.She posted extensively about her dissatisfaction on the Internet,making derogatory remarks about the stylist's abilities and the hygiene at the salon.If the hair stylist wanted to sue the customer,under which law could the stylist proceed?

Accepted Answer

A)  undue influence 
B)  breach of contract 
C)  product liability 
D)  negligence 
E)  intentional tort 
A)  undue influence 
B)  breach of contract 
C)  product liability 
D)  negligence 
E)  intentional tort

Question 10

In terms of contract law,consideration means ________.

Accepted Answer

A)  mental capacity 
B)  something of real value 
C)  minor status 
D)  duress 
E)  acceptance 
A)  mental capacity 
B)  something of real value 
C)  minor status 
D)  duress 
E)  acceptance

Question 11

A regulation passed by the Food and Drug Administration strengthening the rules for drug safety and requiring manufacturers to prove their drugs' effectiveness is an example of ________ law.

Accepted Answer

A)  constitutional 
B)  statutory 
C)  administrative 
D)  case 
E)  common 
A)  constitutional 
B)  statutory 
C)  administrative 
D)  case 
E)  common

Question 12

Which of the following is NOT one of the elements of a contract that must be in place for it to be valid?

Accepted Answer

A)  an offer must be made 
B)  the parties must understand and agree on the terms 
C)  the terms must be formally drafted 
D)  consideration must be given 
E)  the offer must be accepted 
A)  an offer must be made 
B)  the parties must understand and agree on the terms 
C)  the terms must be formally drafted 
D)  consideration must be given 
E)  the offer must be accepted

Question 13

Truth-in-advertising rules do all of the following EXCEPT

Accepted Answer

A)  ensure that advertisements are nondeceptive 
B)  ensure that the advertisements are not unfair 
C)  ensure that there is sufficient evidence to support claims made in advertisements 
D)  ensure that cigarette packages contain warning labels 
E)  ensure that advertisements do not cause unavoidable consumer injury that is not outweighed by the benefit 
A)  ensure that advertisements are nondeceptive 
B)  ensure that the advertisements are not unfair 
C)  ensure that there is sufficient evidence to support claims made in advertisements 
D)  ensure that cigarette packages contain warning labels 
E)  ensure that advertisements do not cause unavoidable consumer injury that is not outweighed by the benefit

Question 14

Which of the following is NOT a type of tort?

Accepted Answer

A)  intentional tort 
B)  negligence 
C)  strict liability 
D)  absolute liability 
E)  tort reform 
A)  intentional tort 
B)  negligence 
C)  strict liability 
D)  absolute liability 
E)  tort reform

Question 15

In instances when a contract is not fulfilled,________ of contract is said to occur.

Accepted Answer

A)  fraud 
B)  duress 
C)  undue influence 
D)  breach 
E)  incapacity 
A)  fraud 
B)  duress 
C)  undue influence 
D)  breach 
E)  incapacity

Question 16

Christian is filing for Chapter 13 bankruptcy,so he must sell his home and car and use the proceeds from this to pay off his debts on a 3-5 year repayment plan.

Accepted Answer

A) True 
 B)False

Question 17

Only a firm's administrative personnel are subject to administrative law.

Accepted Answer

A) True 
 B)False

Question 18

A copyright is any word,name,symbol,or device (or any combination of these)that is used to identify and distinguish a good.

Accepted Answer

A) True 
 B)False

Question 19

Unlike trademarks and patents,trade secrets ________.

Accepted Answer

A)  are not protected under federal statutes 
B)  are not protected under state laws 
C)  are protected only when the secret is disclosed 
D)  cannot be processes 
E)  must be physical devices 
A)  are not protected under federal statutes 
B)  are not protected under state laws 
C)  are protected only when the secret is disclosed 
D)  cannot be processes 
E)  must be physical devices

Question 20

How are trademarks protected?

Accepted Answer

Trademark rights exclude others from usi

Why should bankruptcy only be used as a last resort?

Chapter 11 bankruptcy ________.

Domenica had a tree on her property that blocked Mark's view of the lake across the street from his house.Mark got more and more annoyed by the tree's presence until the day he cut down the tree when Domenica was at work.Domenica is able to sue Mark for intentional tort.

All of the following are true of constitutional law EXCEPT

Traditional copyright law effectively protects books,music,film,art in the digital age.

What does "UCC " stand for?

Which of the following people would most likely be in favor of tort reform?

Can anyone enter into a business contract?

In terms of contract law,consideration means ________.

A regulation passed by the Food and Drug Administration strengthening the rules for drug safety and requiring manufacturers to prove their drugs' effectiveness is an example of ________ law.

Which of the following is NOT one of the elements of a contract that must be in place for it to be valid?

Truth-in-advertising rules do all of the following EXCEPT

Which of the following is NOT a type of tort?

In instances when a contract is not fulfilled,________ of contract is said to occur.

Christian is filing for Chapter 13 bankruptcy,so he must sell his home and car and use the proceeds from this to pay off his debts on a 3-5 year repayment plan.

Only a firm's administrative personnel are subject to administrative law.

A copyright is any word,name,symbol,or device (or any combination of these)that is used to identify and distinguish a good.

Unlike trademarks and patents,trade secrets ________.

How are trademarks protected?

Business Basics

Economics and Banking

Ethics in Business

Business in a Global Economy

Small Business and the Entrepreneur

Forms of Business Ownership

Business Management and Organization

Motivation, Leadership, and Teamwork

Human Resource Management

Online Business and Technology

Production, operations, and the Supply Chain

Marketing and Consumer Behavior

Product Development and Pricing Strategies

Promotion and Distribution

Financing and Tracking Business Operations

Investment Opportunities in the Securities Market

Constructing an Effective Business Plan

Business Communications

Finding a Job

Personal Finance

Filters

Exam 17: Business Law

Why should bankruptcy only be used as a last resort?

Chapter 11 bankruptcy ________.

Domenica had a tree on her property that blocked Mark's view of the lake across the street from his house.Mark got more and more annoyed by the tree's presence until the day he cut down the tree when Domenica was at work.Domenica is able to sue Mark for intentional tort.

All of the following are true of constitutional law EXCEPT

Traditional copyright law effectively protects books,music,film,art in the digital age.

What does "UCC " stand for?

Which of the following people would most likely be in favor of tort reform?

Can anyone enter into a business contract?

In terms of contract law,consideration means ________.

A regulation passed by the Food and Drug Administration strengthening the rules for drug safety and requiring manufacturers to prove their drugs' effectiveness is an example of ________ law.

Which of the following is NOT one of the elements of a contract that must be in place for it to be valid?

Truth-in-advertising rules do all of the following EXCEPT

Which of the following is NOT a type of tort?

In instances when a contract is not fulfilled,________ of contract is said to occur.

Christian is filing for Chapter 13 bankruptcy,so he must sell his home and car and use the proceeds from this to pay off his debts on a 3-5 year repayment plan.

Only a firm's administrative personnel are subject to administrative law.

A copyright is any word,name,symbol,or device (or any combination of these)that is used to identify and distinguish a good.

Unlike trademarks and patents,trade secrets ________.

How are trademarks protected?

Business Basics

Economics and Banking

Ethics in Business

Business in a Global Economy

Small Business and the Entrepreneur

Forms of Business Ownership

Business Management and Organization

Motivation, Leadership, and Teamwork

Human Resource Management

Online Business and Technology

Production, operations, and the Supply Chain

Marketing and Consumer Behavior

Product Development and Pricing Strategies

Promotion and Distribution

Financing and Tracking Business Operations

Investment Opportunities in the Securities Market

Constructing an Effective Business Plan

Business Communications

Finding a Job

Personal Finance

Filters