Deck 34: The Sarbanes-Oxley Act of 2002

Question 1

Pharma Meds Corporation employs Ogilvie under an employment contract that sets out a specific amount of money to be paid for certain results over a stated period of time.During the term of the contract,it becomes clear that the results are not likely to be attained.Pharma then gives Ogilvie the option of accepting a lesser position with fewer duties for less money.Ogilvie accepts via e-mail,but soon files a suit against Pharma for breach of the original contract.The court is most likely to rule that Ogilvie's e-mail

A)showed only an agreement to agree.
B)accepted the proposed modification of the employment contract.
C)constituted a non-binding,non-contractual communication.
D)contained an acceptance but is unenforceable because it is electronic.

Answer 1

B

Question 2

Ghani is Huey's agent.Ethically,Ghani cannot

A)disclose Ghani's interest in property that Huey is buying.
B)exhibit loyalty to Huey.
C)profit from the agency relationship,even with Huey's consent.
D)represent Ilya in a transaction with Huey.

Answer 2

D

Question 3

Dolph is an employee of Enterprise Company (EC).The federal government raids EC and determines that Dolph and many of his co-workers are illegal immigrants,whom are then detained and later deported.Frey,Dolph's EC manager,is imprisoned for federal law violations related to the immigrants' hiring.Unable to attract replacement workers at a competitive wage,EC shuts its doors.Reasons for reforming U.S.immigration laws include

A)the disruption of business caused by federal raids on employers.
B)the economic conditions prompting immigration to the United States.
C)the imprisonment of those who violate U.S.laws.
D)the low wages offered by employers for jobs that should pay more.

Answer 3

A