Because the principal is assumed to know what the agent knows, the agent has a _

Question

Because the principal is assumed to know what the agent knows, the agent has a ________.

duty to relinquish

duty to inform

duty to indemnify

duty to perform

2 points

Question 5

Which one of the following is a concern of state governments?

foreign commerce

commerce with Native American tribes

police power

interstate commerce

2 points

Question 6

Because of the ________, evidence obtained from an unreasonable search and seizure cannot be used in a trial.

exclusionary rule

good faith exception

Fifth amendment

Miranda rights

2 points

Question 7

Protection from self-incrimination is part of the ________.

Fourth amendment

Fifth amendment

Sixth amendment

Eighth amendment

2 points

Question 8

Some version of Article 2 has been adopted in every state EXCEPT ________.

Wisconsin

Florida

Montana

Louisiana

2 points

Question 9

The amount of money that a worker's compensation claimant can recover is ________.

fixed at the federal level

preset as established by statute or regulations

dependent on whether the employer carried worker's compensation insurance

dependent on how quickly the claim was filed

2 points

Question 10

A roofing company finishes a job for the Miller family and gets paid. A few days later, the Millers determine that the wrong shingles were used; they had in fact ordered a higher quality material than what was used. This constitutes ________.

strict performance

tender of performance

inferior performance

substantial performance

2 points

Question 11

Under the Economic Espionage Act of 1996, which of the following suggests the maximum penalty that can be imposed per criminal violation?

15 years imprisonment

$10 million

the penalty imposed for a case where the trade secret benefitted a foreign government

life imprisonment


3.3: Explain the legal protection available to a patent holder

2 points

Question 12

Cori signs a contract with a real-estate agency to sell her house. Cori cannot use other real estate agents while in this contract. This relationship is an example of ________.

incidental authority

express agency

apparent agency

agency by ratification

2 points

Question 13

Which of the following is considered a common crime?

bribery

criminal fraud

larceny

embezzlement

2 points

Question 14

According to the UCC, a ________ is any symbol executed or adapted by a party with the intent to authenticate a writing.

brand

signature

promissory

proxy

2 points

Question 15

A party who agrees to act on behalf of another person or party is called a(n) ________.

fiduciary

third party

agent

principal

2 points

Question 16

Testing automobiles for safety before authorizing production is an example of the ________ theory of social responsibility.

maximizing profits

stakeholder interest

corporate citizenship

moral minimum

2 points

Question 17

The Sarbanes-Oxley Act does all of the following EXCEPT ________.

require a public company to prominently display a code of ethics for senior financial officers

require a public company to disclose whether it has adopted a code of ethics for senior financial officers

make certain conduct illegal

establish criminal penalties for violations

2 points

Question 18

Fund transfers are addressed in Article ________ of the UCC; this article was added to the UCC in 1989.

3

3A

4

4A

2 points

Question 19

A ________ is drawn on a financial institution and is payable upon demand.

draft

check

promissory note

certificate of deposit

2 points

Question 20

A successful plaintiff in a trade secret suit can do all of the following except ________.

recover any profits made from the use of the stolen information

prevent the offenders from working in that industry

recover for damages brought about by the offense

obtain an injunction against further use or dissemination of the secret

2 points

Question 21

Which of the following is NOT included in most state court systems?

limited-jurisdiction trial courts

bankruptcy court

intermediate appellate courts

general jurisdiction trials courts

2 points

Question 22

According to the U.S. Constitution, the president may enter into treaties with foreign governments provided that ________.

The treaties will not be considered a permanent part of our constitution

two thirds of the members of senate consent

they are not deemed unconstitutional

the treaties are economically advantageous for the United States

2 points

Question 23

All of the following are types of drafts EXCEPT ________.

trade draft

sight draft

demand draft

time draft

2 points

Question 24

When initiating a lawsuit, the ________ files a complaint in the proper court.

cross-complainant

plaintiff

defendant

clerk of court

2 points

Question 25

The ________ Act permits private parties to sue companies for fraud on behalf of the federal government.

False Claims

Faulty Business

Civilian Empowerment

Critical Examination

2 points

Question 26

A person or party who employs another person to act on his/her behalf is called a(n) ________.

fiduciary

third party

agent

principal

2 points

Question 27

Who comprised the membership of the American Federation of Labor at the time it was developed?

semiskilled workers

skilled craft workers

unskilled workers

all workers

2 points

Question 28

Which of the following is NOT protected by trademark law?

a symbol used by a company on their athletic shoes

the phrase “Stars and Stripes forever”

the slogan used on milk commercials

service marks

2 points

Question 29

Who is given patent protection in the United States?

the first person to invent something

the first person to file for a patent

the first person be granted a patent

the first person to produce a prototype

2 points

Question 30

Self-dealing is considered part of which general partnership duty?

duty of obedience

duty to inform

duty of care

duty of loyalty

2 points

Question 31

A separate piece of paper attached to an instrument on which an indorsement is written is called a(n) ________.

special indorsement

allonge

virgule

qualified indorsement

2 points

Question 32

The Statute of Frauds includes which of the following provisions?

All contracts for the sale of goods costing $500 or more must be in writing.

All contracts for the sale of goods costing $1000 or more must be in writing.

The sale of specially manufactured goods must be in writing.

Lease contracts involving payments of $500 or more must be in writing.

2 points

Question 33

The idea that social power has been bestowed upon the business and thus the business has a duty to help society is a tenet of which theory of social responsibility?

maximizing profits

stakeholder interest

corporate citizenship

moral minimum

2 points

Question 34

In an attempt to break up a fight between a feuding couple, Gunther gets hit in the jaw and gets taken to the hospital. He could pursue litigation under which of the following acts?

assault

battery

transferred intent

false imprisonment

2 points

Question 35

If consent to create a contract has been obtained by duress or fraud, ________ has been violated and the contract is void.

genuineness of assent

genuineness of consent

informed consent

contractual capacity

2 points

Question 36

Strict liability applies to which of the following?

a defective lawn mower sold at a yard sale

a raft sold at a discount superstore

any services provided by a beauty salon

a cracked syringe used to inject medication during an emergency procedure

2 points

Question 37

Which of the following statements is NOT true about entrepreneurs?

they start a business by themselves or with others

their endeavors contribute to the growth of the economy

their endeavors start out as a sole proprietorship

their endeavors may end up as major corporations

2 points

Question 38

Which of the following is NOT true about the federal Social Security system?

current contributions are set aside to fund that worker s eventual retirement

the Federal Insurance Contributions Act specified that employees must make contributions into the Social Security fund

Social Security funds are used for Medicare

employers are responsible for remitting payment from their employees to the IRS

2 points

Question 39

All of the following are true about the Uniform Commercial Code (UCC) EXCEPT ________.

it was developed in 1949

23 states have enacted all or part of the UCC as statutes

it was developed in response to the frustrations arising from trying to follow different business laws in each state

Article 2 of the UCC concerns sales

2 points

Question 40

________ holds that people must make a decision about what is ethical based on their own beliefs about what constitutes right and wrong behavior.

Kantian ethics

Ethical fundamentalism

Ethical relativism

Rawl’s Social Justice

2 points

Question 41

Informal contracts are so named because ________.

they are not fully enforceable

they are not typically used

informal language is used on the contract

no special form is required for their creation

2 points

Question 42

Which article of the UCC code establishes the requirements for negotiable instruments?

Article 3

Article 3A

Article 4

Article 4A

2 points

Question 43

Which of the following terms is a general description for a group of crimes?

robbery

larceny

theft

burglary

2 points

Question 44

The parties to a contract must have ________ for the contract to be enforceable against them.

agreement

consideration

contractual capacity

lawful object

2 points

Question 45

The theory that each person is presumed to have entered into a social contract with everyone else in society was proposed by ________.

Kant and Bentham

Bentham and Locke

Rousseau and Kant

Locke and Rousseau

2 points

Question 46

Which of the following is the MOST common form of agency?

apparent agency

express agency

implied agency

incidental authority

2 points

Question 47

A negotiable instrument must have all of the following requirements EXCEPT ________.

permanency

portability

conditionality

signature

2 points

Question 48

Which article of the UCC code establishes the regulations and principles that control procedures for checking account deposits and collections?

Article 3

Article 3A

Article 4

Article 4A

2 points

Question 49

Which of the following types of alternative dispute resolutions is contained in labor union agreements?

negotiation

arbitration

mediation

conciliation

2 points

Question 50

Which of the following statements would render an instrument NOT payable at a certain time?

payable on June 4, 2011

payable on or before June 4, 1970

payable 30 days after June 4, 2011

payable after June 4, 2011

2 points

Question 51

In the United States, which of the following statements is true about child labor?

newspaper delivery is the only job permitted to children under age 15

you must be at least 16 years old to work in a restaurant job

Individuals between 18 and 21 years of age may work unlimited hours in jobs deemed nonhazardous by the Department of Labor.

Children ages 16 and 17 may work unlimited hours in jobs deemed nonhazardous by the Department of Labor.

2 points

Question 52

Partnership law is codified in the ________.

United States Constitution

laws of each state

Uniform Partnership Act

Sarbanes-Oxley Act

2 points

Question 53

An agency is hired to spray herbicide on the sidewalks in front of a building to kill weeds. A city ordinance is then passed that forbids use of herbicides on public thoroughfares. The contract can be terminated due to ________.

changed circumstances

termination by ratification

termination by impossibility

indemnity

2 points

Question 54

In which of the following situations would a contract most likely NOT be terminated?

a schoolteacher lets her teaching license lapse

a horse owner who contracts with a farmer suddenly has ethical questions about the practice

a man adjudged mentally insane cannot perform his job as contracted

a family that contracts with a daycare for daily childcare files for bankruptcy

2 points

Question 55

When a wrongdoer deceives another person out of money or property, it is called ________.

disparagement

intentional misrepresentation

trade libel

tort of outrage

2 points

Question 56

A(n) ________ shop agreement states that employees must join the union within a certain amount of time; a(n) ________ shop agreement specifies dues to be paid.

agency; union

closed; union

closed; agency

union; agency

2 points

Question 57

Under state law, the owner of a trade secret can bring a ________ against anyone who unlawfully obtains a trade secret.

formal complaint

grievance against the opposing corporation

civil lawsuit

federal lawsuit

2 points

Question 58

The function of the ________ is to hear appeals from lower courts; no new evidence or testimony is heard.

inferior trial courts

courts of record

appellate courts

state supreme courts

2 points

Question 59

A(n) ________ indorsement does NOT disclaim or limit liability.

blank

special

qualified

unqualified

2 points

Question 60

Reverse engineering, a way to discover trade secrets, involves ________.

taking apart and examining a rival s product

hiring product developers away from a rival company

undermining a rival s business by selling a similar product at a lower cost

inventing a superior product that outsells its inferior counterpart

duty to relinquish

duty to inform

duty to indemnify

duty to perform

Explanation / Answer

Q Duty to inform

Q5 police power

Q6 Exclusionary rule

Q7 fifth amendments

Q.8 Louisiana

Q.9dependent on whether the employer carried worker's compensation insurance

Related Questions

Navigate

• Browse (All)
• Browse B
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.