Question 1

The Tenth Amendment to the U.S. Constitution

Accepted Answer

A)  reserves to the states all powers not granted to the federal government. 
B)  reserves to the federal government all powers not granted to the states. 
C)  requires each state in the union to have its own constitution. 
D)  does not exist. 
A)  reserves to the states all powers not granted to the federal government. 
B)  reserves to the federal government all powers not granted to the states. 
C)  requires each state in the union to have its own constitution. 
D)  does not exist. A

Question 2

Government authorities cannot enforce national law.

Accepted Answer

A) True 
 B)False  False

Question 3

International law is the law of a foreign nation and varies from country to country.

Accepted Answer

A) True 
 B)False  False

Question 4

A court may rule contrary to a precedent if the court decides that the precedent

Accepted Answer

A)  is incorrect or inapplicable. 
B)  is not in line with the judge's personal values. 
C)  would lead to unintended consequences. 
D)  would not bring about the result the judge prefers. 
A)  is incorrect or inapplicable. 
B)  is not in line with the judge's personal values. 
C)  would lead to unintended consequences. 
D)  would not bring about the result the judge prefers.

Question 5

The best definition of a remedy is

Accepted Answer

A)  the relief given to an innocent party to enforce a right or to prevent or compensate for the violation of a right. 
B)  medication paid for by the government. 
C)  a right guaranteed by the Bill of Rights. 
D)  a situation or state of facts that gives a person a right to initiate a judicial proceeding. 
A)  the relief given to an innocent party to enforce a right or to prevent or compensate for the violation of a right. 
B)  medication paid for by the government. 
C)  a right guaranteed by the Bill of Rights. 
D)  a situation or state of facts that gives a person a right to initiate a judicial proceeding.

Question 6

Under Ohio's state constitution, the Ohio Environmental Protection Agency issues a new rule, the Polk County Commission approves a new property tax measure, and the professors and students at Ohio Law School publish the results of their most recent legal research. Sources of law do not include

Accepted Answer

A)  the measures approved by local governing bodies. 
B)  the results of legal scholars' research. 
C)  the rules issued by state administrative agencies. 
D)  the states' constitutions. 
A)  the measures approved by local governing bodies. 
B)  the results of legal scholars' research. 
C)  the rules issued by state administrative agencies. 
D)  the states' constitutions.

Question 7

Common law is the same as statutory law.

Accepted Answer

A) True 
 B)False

Question 8

Being a small-business owner means that you will never have to take on the role of finance manager, marketing manager or accountant.

Accepted Answer

A) True 
 B)False

Question 9

Leona enters into a contract with Munchie Bakery to cater a sales conference. When the conference is postponed indefinitely, Leona asks a court to cancel the contract and return the parties to the positions that they held before its formation. This request involves

Accepted Answer

A)  specific performance. 
B)  an injunction. 
C)  rescission. 
D)  an action that the court cannot order. 
A)  specific performance. 
B)  an injunction. 
C)  rescission. 
D)  an action that the court cannot order.

Question 10

Standard Business Company appeals a decision against it, in favor of Top Flight Corporation, from a lower court to a higher court. Standard is

Accepted Answer

A)  the appellant. 
B)  the appellee. 
C)  the defendant. 
D)  the plaintiff. 
A)  the appellant. 
B)  the appellee. 
C)  the defendant. 
D)  the plaintiff.

Question 11

Administrative law is a source of American law that is comprised of statutes.

Accepted Answer

A) True 
 B)False

Question 12

Starlight Café brings a suit, seeking a remedy at law. A remedy at law is

Accepted Answer

A)  the payment of money or property as compensation for damages. 
B)  a decree of specific performance. 
C)  a judicial proceeding for the resolution of a dispute. 
D)  an injunction. 
A)  the payment of money or property as compensation for damages. 
B)  a decree of specific performance. 
C)  a judicial proceeding for the resolution of a dispute. 
D)  an injunction.

Question 13

Judge Julia decides that the precedent for the case she is hearing is no longer correct due to technological changes. She overturns the precedent when she decides the case. It is most likely that her case will

Accepted Answer

A)  go unnoticed by the public. 
B)  be thrown out of court. 
C)  receive a great deal of publicity. 
D)  be ignored by the media. 
A)  go unnoticed by the public. 
B)  be thrown out of court. 
C)  receive a great deal of publicity. 
D)  be ignored by the media.

Question 14

A provision in the California state constitution conflicts with a provision in the U.S. Constitution. If challenged

Accepted Answer

A)  neither provision will be enforced. 
B)  the provisions will be balanced to reach a compromise. 
C)  the state provision, not the U.S. Constitution, will be enforced. 
D)  the U.S. Constitution, not the state provision, will be enforced. 
A)  neither provision will be enforced. 
B)  the provisions will be balanced to reach a compromise. 
C)  the state provision, not the U.S. Constitution, will be enforced. 
D)  the U.S. Constitution, not the state provision, will be enforced.

Question 15

Beth is a victim of Carl's violation of a criminal law. Criminal law is concerned with

Accepted Answer

A)  the prosecution of private individuals by other private individuals. 
B)  the prosecution of public officials by private individuals. 
C)  the relief available when a person's rights are violated. 
D)  wrongs committed against the public as a whole. 
A)  the prosecution of private individuals by other private individuals. 
B)  the prosecution of public officials by private individuals. 
C)  the relief available when a person's rights are violated. 
D)  wrongs committed against the public as a whole.

Question 16

There are no precedents on which the court deciding the case Financial Investment Co. v. Goodhands Insurance, Inc., can base its decision. The court may consider

Accepted Answer

A)  issuing an order according to the judge's personal values. 
B)  refusing to decide the case. 
C)  postponing a decision until a precedent is available. 
D)  basing a decision on public policy or social customs and values. 
A)  issuing an order according to the judge's personal values. 
B)  refusing to decide the case. 
C)  postponing a decision until a precedent is available. 
D)  basing a decision on public policy or social customs and values.

Question 17

Whether financial statements created by an accountant need to be verified for accuracy is not a legal question.

Accepted Answer

A) True 
 B)False

Question 18

The federal government and the states have the same constitution.

Accepted Answer

A) True 
 B)False

Question 19

Many different laws may apply to a single business transaction.

Accepted Answer

A) True 
 B)False

Question 20

Damages are never paid in money.

Accepted Answer

A) True 
 B)False

Exam 1: The Legal Environment

The Tenth Amendment to the U.S. Constitution

Government authorities cannot enforce national law.

International law is the law of a foreign nation and varies from country to country.

A court may rule contrary to a precedent if the court decides that the precedent

The best definition of a remedy is

Under Ohio's state constitution, the Ohio Environmental Protection Agency issues a new rule, the Polk County Commission approves a new property tax measure, and the professors and students at Ohio Law School publish the results of their most recent legal research. Sources of law do not include

Common law is the same as statutory law.

Being a small-business owner means that you will never have to take on the role of finance manager, marketing manager or accountant.

Leona enters into a contract with Munchie Bakery to cater a sales conference. When the conference is postponed indefinitely, Leona asks a court to cancel the contract and return the parties to the positions that they held before its formation. This request involves

Standard Business Company appeals a decision against it, in favor of Top Flight Corporation, from a lower court to a higher court. Standard is

Administrative law is a source of American law that is comprised of statutes.

Starlight Café brings a suit, seeking a remedy at law. A remedy at law is

Judge Julia decides that the precedent for the case she is hearing is no longer correct due to technological changes. She overturns the precedent when she decides the case. It is most likely that her case will

A provision in the California state constitution conflicts with a provision in the U.S. Constitution. If challenged

Beth is a victim of Carl's violation of a criminal law. Criminal law is concerned with

There are no precedents on which the court deciding the case Financial Investment Co. v. Goodhands Insurance, Inc., can base its decision. The court may consider

Whether financial statements created by an accountant need to be verified for accuracy is not a legal question.

The federal government and the states have the same constitution.

Many different laws may apply to a single business transaction.

Damages are never paid in money.

Constitutional Law

Courts and Alternative Dispute Resolution

Torts and Cyber Torts

Intellectual Property and Internet Law

Criminal Law and Cyber Crime

Ethics and Business Decision Making

International Law in a Global Economy

Nature and Classification

Offer and Acceptance

Consideration, Capacity, and Legality

Defenses to Contract Enforceability

Third Party Rights and Discharge

Breach and Remedies

The Formation of Sales and Lease Contracts

Performance and Breach of Sales Lease Contracts

Warranties and Product Liability

Negotiable Instruments: Transferability Liability

Checks and Banking in the Digital Age

Secured Transactions

Creditors Rights and Bankruptcy

Mortgages Foreclosures After the Recession

Agency Relationships in Business

Employment, Immigration, and Labor Law

Employment Discrimination and Diversity

Sole Proprietorships and Private Franchises

All Forms of Partnership

Limited Liability Companies Special Business Forms

Corporate Formation, Merger, and Termination

Management and Ownership of a Corporation

Investor Protection, Insider Trading, Corp Gov

Promoting Competition

Consumer and Environmental Law

Liability of Accountants Other Professionals

Personal Property and Bailments

Real Property and Landlord-Tenant Law

Insurance, Wills, and Trusts

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