Exam 21: Appendix A: Using Technology to Manage Information

The number of Americans filing for bankruptcy each year has increased since the late 1980s.

The Federal Trade Commission issues and interprets rules and regulations regarding business activities.The Federal Trade Commission is a governmental administrative agency.

The financial claims of ________ are given priority when assets are distributed among creditors in a bankruptcy case.

Producers of government approved drugs and chemicals cannot be sued by individuals who develop side effects years later.

Common law is the body of law established through legislative action by Congress.

Statutory law refers to written legislation.

Explain two of the major U.S.antitrust laws.

The Pillsbury Doughboy is an example of a:

The Sarbanes-Oxley Act requires CEOs to verify the accuracy of their firms' financial statements to the SEC.

The offer of a 3-year or 36,000-mile warranty by a car dealer on a new vehicle is an example of an implied warranty.

The recent lawsuits against the tobacco industry are examples of tort law.

The branch of the government responsible for overseeing the legal system is the:

When McDonald's lost a lawsuit to a person severely burned by hot coffee McDonald's was found to be guilty of:

Business law refers to a body of regulations that,when enforced,provides a framework within which business may be conducted.

Business and government do not need to work together to create a competitive environment that is fair and open since global competition is increasing.

Which of the following would cause a contract to be void?

Laws regulating marriage and personal injury liability are part of our body of criminal law.

A patent gives inventors exclusive rights to their inventions for:

A __________ is a legally enforceable agreement between two or more parties.

________ is the process of eliminating laws and regulations that hinder competition.