Question 1

The "public disclosure" test for ethical behavior is sometimes referred to as the ______ test.

Accepted Answer

A)  Television 
B)  Powell 
C)  Self-conscious 
D)  Golden 
E)  Primary 
A)  Television 
B)  Powell 
C)  Self-conscious 
D)  Golden 
E)  Primary

Question 2

List the purposes of the law and discuss why these purposes are necessary for an ordered society.

Accepted Answer

Purposes of the law should be listed as

Question 3

Because of the law, we rely on the goodwill and dependability of one another.

Accepted Answer

A) True 
 B)False

Question 4

When courts rely on precedent, they are obeying ______.

Accepted Answer

A)  Common analysis 
B)  Resjudicata 
C)  Staredecisis 
D)  Inrem process 
E)  Federal law 
A)  Common analysis 
B)  Resjudicata 
C)  Staredecisis 
D)  Inrem process 
E)  Federal law

Question 5

Reference - International Expansion. Zach wants to expand his coffee business internationally-into Zeno, a small remote country in Africa. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the most strict laws regarding contracts, employment, and business practices. So long as I'm legal here, I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in the remote country of Zeno for violating recently past laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of vacation per year. Which of the following is true regarding Zach's defense that he thought he knew the law of Zeno because he had studied it some years before and that the laws under which he was arrested were new?

Accepted Answer

A)  Rules in international business change frequently, and Zach had a duty to stay current. It is not a defense that he studied the law at one time and that the laws at issue were new. 
B)  Zach is entitled to rely as a defense on the fact that he had studied the law at one time. Officials in Zeno were charged with publicizing any changes. 
C)  If Zach can prove that the laws at issue were passed within the last twelve months before he was arrested, he will get out of jail because under international law, there is a twelve month grace period for foreigners. 
D)  If Zach can prove that the laws at issue were passed within the last six months before he was arrested, he will get out of jail because under international law, there is a six month grace period for foreigners. 
E)  Zach cannot be prosecuted so long as he was not aware he was violating the law. He did not have the requisite intent to perform a criminal act regardless of whether the laws were new. 
A)  Rules in international business change frequently, and Zach had a duty to stay current. It is not a defense that he studied the law at one time and that the laws at issue were new. 
B)  Zach is entitled to rely as a defense on the fact that he had studied the law at one time. Officials in Zeno were charged with publicizing any changes. 
C)  If Zach can prove that the laws at issue were passed within the last twelve months before he was arrested, he will get out of jail because under international law, there is a twelve month grace period for foreigners. 
D)  If Zach can prove that the laws at issue were passed within the last six months before he was arrested, he will get out of jail because under international law, there is a six month grace period for foreigners. 
E)  Zach cannot be prosecuted so long as he was not aware he was violating the law. He did not have the requisite intent to perform a criminal act regardless of whether the laws were new.

Question 6

Legislative acts passed by state legislatures can be found in ______.

Accepted Answer

A)  The U.S. Code 
B)  State codes 
C)  The Uniform Register 
D)  The State Reporter 
E)  The State Reference Manual 
A)  The U.S. Code 
B)  State codes 
C)  The Uniform Register 
D)  The State Reporter 
E)  The State Reference Manual

Question 7

The United States Constitution and the ________ establish the fundamental principles and rules by which the United States and the several states are governed.

Accepted Answer

A)  Administrative rules 
B)  Procedural rules 
C)  Constitution of each state 
D)  Bylaws of each state 
E)  Both the procedural rules and the bylaws of each state 
A)  Administrative rules 
B)  Procedural rules 
C)  Constitution of each state 
D)  Bylaws of each state 
E)  Both the procedural rules and the bylaws of each state

Question 8

The term ______ involves the use of past decisions to guide future decisions.

Accepted Answer

A)  Commonality 
B)  Precedent 
C)  Restatement 
D)  Uniformity 
E)  Modeling 
A)  Commonality 
B)  Precedent 
C)  Restatement 
D)  Uniformity 
E)  Modeling

Question 9

Reference - The Stolen Book. Susan is told by Betty that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob had Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The prosecution by the government against Susan for slapping Bob involves which of the following?

Accepted Answer

A)  Public law 
B)  Private law 
C)  Administrative law 
D)  Both public and private law 
E)  Comprehensive law. 
A)  Public law 
B)  Private law 
C)  Administrative law 
D)  Both public and private law 
E)  Comprehensive law.

Question 10

Business law consists of the suggested rules of conduct that govern commercial relationships.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following are summaries of common law rules in a particular area of the law that have been enacted by most states?

Accepted Answer

A)  Restatements of the Law 
B)  Codifications of the Law 
C)  Reporters 
D)  Reports of the Law 
E)  Codes of Reporters 
A)  Restatements of the Law 
B)  Codifications of the Law 
C)  Reporters 
D)  Reports of the Law 
E)  Codes of Reporters

Question 12

The ______ is a significant body of law to business activities including sales, banking, and warranty.

Accepted Answer

A)  Federal Business Code 
B)  Model Business Code 
C)  Uniform Transactional Model 
D)  Uniform Commercial Code 
E)  Marketing Transaction Code 
A)  Federal Business Code 
B)  Model Business Code 
C)  Uniform Transactional Model 
D)  Uniform Commercial Code 
E)  Marketing Transaction Code

Question 13

Laws are enforced by which of the following?

Accepted Answer

A)  State legislatures 
B)  Federal Congress 
C)  Community consensus 
D)  Courts 
E)  All of these 
A)  State legislatures 
B)  Federal Congress 
C)  Community consensus 
D)  Courts 
E)  All of these

Question 14

Which of the following is a term used to refer to laws that are contained in one convenient location?

Accepted Answer

A)  Area laws 
B)  Codes 
C)  Classifications 
D)  Filings 
E)  Reports 
A)  Area laws 
B)  Codes 
C)  Classifications 
D)  Filings 
E)  Reports

Question 15

Reference - The Stolen Book. Susan is told by Betty that Bob stole her business law book from her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob had Susan arrested for slapping him. Susan sues Bob for damages in the amount of the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. The action Bob has against Betty for defamation involves which of the following?

Accepted Answer

A)  Criminal law 
B)  Civil law 
C)  Insider law 
D)  Both criminal and civil law 
E)  Administrative law 
A)  Criminal law 
B)  Civil law 
C)  Insider law 
D)  Both criminal and civil law 
E)  Administrative law

Question 16

Which of the following most accurately sets forth ways into which law may be divided and classified?

Accepted Answer

A)  National versus international. 
B)  Federal versus state. 
C)  Public versus private. 
D)  National versus international, and federal versus state, but not public versus private. 
E)  National versus international, federal versus state, and public versus private. 
A)  National versus international. 
B)  Federal versus state. 
C)  Public versus private. 
D)  National versus international, and federal versus state, but not public versus private. 
E)  National versus international, federal versus state, and public versus private.

Question 17

Which of the following cases is referenced in the text as a use of stare decisis as binding precedent, in that it abolished discriminatory policies for individuals of different racial backgrounds?

Accepted Answer

A)  Curtisv. SchoolBoard 
B)  Laughlinv. Glover 
C)  Groverv. BreeBee 
D)  Brownv. BoardofEducation 
E)  Storyv. Price 
A)  Curtisv. SchoolBoard 
B)  Laughlinv. Glover 
C)  Groverv. BreeBee 
D)  Brownv. BoardofEducation 
E)  Storyv. Price

Question 18

Reference - Environmental Concerns. Connie, the president of a company that makes paper, has a new interest in the environment. She recently went to a seminar on environmental dangers and has decided to take steps to clean things up. She started at home and was also convicted to change things at work. Connie had to face the fact that her company has been cheating and is not in compliance with applicable environmental regulations due to dumping in a nearby river. Her company has never been cited, however, because it employs a very large number of people in the community, including the mayor's wife and the chief-of-police's brother. On her mission to clean things up, Connie has decided to go even further than the law requires and install the very latest environmental protections. When she announced her plan, the chair of the company's board of directors, Brooke, had a meeting with Connie. Brooke told Connie to analyze the situation carefully because the cost of the additional equipment would mean no dividend to shareholders and no raise for employees. Furthermore, Brooke told Connie that installing all the new equipment would result in higher prices for the company's paper products and could bankrupt the company because of foreign competition. Brooke hinted that Connie could be fired if she persisted. Brooke suggested that Connie just be concerned with a minimal standard of ethics. Which of the following would be a stakeholder in the company?

Accepted Answer

A)  The community only 
B)  The shareholders only 
C)  Future generations only 
D)  The community and shareholders only 
E)  The community, shareholders, and future generations 
A)  The community only 
B)  The shareholders only 
C)  Future generations only 
D)  The community and shareholders only 
E)  The community, shareholders, and future generations

Question 19

Assume a judge writes that she is deciding to enforce a law in question but that her decision does not mean that she sees the law as the morally correct rule. The judge would have leanings in the direction of ______.

Accepted Answer

A)  Legal positivism 
B)  Natural law 
C)  Legal-realism 
D)  Conscience reaction 
E)  None of these 
A)  Legal positivism 
B)  Natural law 
C)  Legal-realism 
D)  Conscience reaction 
E)  None of these

Question 20

The ______ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

Accepted Answer

A)  Golden Rule 
B)  Universalization test 
C)  Public Disclosure 
D)  Relevant Disclosure 
E)  World Rule 
A)  Golden Rule 
B)  Universalization test 
C)  Public Disclosure 
D)  Relevant Disclosure 
E)  World Rule

Exam 1: An Introduction to the Fundamentals of Dynamic Business Law

The "public disclosure" test for ethical behavior is sometimes referred to as the ______ test.

List the purposes of the law and discuss why these purposes are necessary for an ordered society.

Because of the law, we rely on the goodwill and dependability of one another.

When courts rely on precedent, they are obeying ______.

Legislative acts passed by state legislatures can be found in ______.

The United States Constitution and the ________ establish the fundamental principles and rules by which the United States and the several states are governed.

The term ______ involves the use of past decisions to guide future decisions.

Business law consists of the suggested rules of conduct that govern commercial relationships.

Which of the following are summaries of common law rules in a particular area of the law that have been enacted by most states?

The ______ is a significant body of law to business activities including sales, banking, and warranty.

Laws are enforced by which of the following?

Which of the following is a term used to refer to laws that are contained in one convenient location?

Which of the following most accurately sets forth ways into which law may be divided and classified?

Which of the following cases is referenced in the text as a use of stare decisis as binding precedent, in that it abolished discriminatory policies for individuals of different racial backgrounds?

Assume a judge writes that she is deciding to enforce a law in question but that her decision does not mean that she sees the law as the morally correct rule. The judge would have leanings in the direction of ______.

The ______ for ethical behavior seeks consideration of what the world would be like if a decision is copied by everyone else.

Business Ethics and Social Responsibility

The Us Legal System and Alternative Dispute Resolution

Administrative Law

Constitutional Law

Criminal Law and Business

Tort Law

Real, Personal, and Intellectual Property

Introduction to Contracts and Agreement

Consideration

Capacity and Legality

Reality of Assent

Contracts in Writing and Third-Party Contracts

Discharge and Remedies

Formation and Performance of Sales and Lease Contracts

Sales and Lease Contracts: Performance, Warranties, and Remedies

Negotiable Instruments: Negotiability and Transferability

Holder in Due Course, Liability, and Defenses

Secured Transactions and Bankruptcy

Agency and Liability to Third Parties

Forms of Business Organization

Corporations: Formation and Organization

Securities Regulation

Employment and Discrimination Law

Consumer Law

Filters