Business Law

Which of the following statements is true of an easement?

An easement can also be reserved in a deed.

Which of the following is the best definition of morality?

The collection of values that guides human behavior

Which of the following causes problems in determining when diversity of citizenship exists in cases involving business corporations

The fact that business corporations are frequently incorporated in one state and have their principal place of business in another state

Administrative Law

The legal principles involved in the workings of government agencies, bureaus, boards or commissions

Consequentialism

The primary goal or end of business leaders is to produce a profit. This orientation reflects _____.

Which of the following statements is true of voluntary arbitration?

The procedure is not tied to a court and is not bound by rules of evidence.

Which of the following statements is true of caucuses in dispute resolution?

They are sometimes used by mediators to make the mediation processes more productive.

Which of the following statements is true of principled, interest-based negotiations?

They involve seven elements that vary in importance depending on the factual situation in dispute and on the parties' individual perspectives

Which of the following is one of the ethical principles proposed by Rawls?

Everyone is entitled to certain equal basic rights, including liberty, freedom of association, and personal security.

A jurist who subscribes to the philosophy of judicial restraint would generally believe that the U.S. Constitution is fluid and can be interpreted within the context of contemporary society. T or F

False

A statute of limitations determines the maximum amount of money for which a plaintiff can sue T or F

False

According to formalist thinker Immanuel Kant, to have good intent, one has to make an exception for one's own behavior. T or F

False

Consequentialism is primarily a duty-based view of ethics. T or F

False

For a classification to survive an equal protection challenge using the minimum rationality approach, it must be entirely arbitrary. T or F

False

In the United States, there is only a federal court system to hear and decide legal issues. T or F

False

Isla mails Taylor offering to sell her house at a "reasonable price." Taylor mails his acceptance. Isla and Taylor are bound by a valid contract. T or F

False

Known risks cannot be allocated in a contract. T or F

False

Legal realism is the idea that courts should understand the meaning of the Constitution relative to the times in which they interpret it. T or F

False

Mike repaired Rosie's car, and Rosie refused to pay the bill. Mike was still in possession of the car and therefore could claim a mechanic's lien on the car. T or F

False

Most state statutes authorizing voluntary arbitration accept an agreement to arbitrate even if it is oral in form. T or F

False

Several studies have found a discernible difference between results reached by a six-person jury and those reached by a 12-person jury. T or F

False

When negotiating, the chances of a negotiated settlement through positional bargaining are high because positional bargaining focuses on the underlying conflicts T or F

False

Which of the following statements is true of rescission?

If a party to a contract choses rescission as a remedy, that party cannot also make a claim for damages.

Which of the following statements is true about bailment?

In the business world, most bailments are of mutual benefit to both parties.

Which of the following statements is true of freedom of speech?

It covers both verbal and written communications.

Which of the following statements is true of formalism?

It focuses more on common good rather than on individual rights.

Which of the following describes an element of a conflict?

It leads to disputes when coupled with claims that are rejected.

Which of the following Supreme Court Justices is currently the Chief Justice?

John Roberts

A particular state decrees that the parties to a divorce case involving a property dispute take up arbitration. Which of the following types of arbitration is depicted in this case?

Mandatory arbitration

Which of the following Supreme Court Justices is the most recent nominee to the Court?

Neil Gorsuch

A _____ suit is one in which one or more plaintiffs file suit on their own behalf and on behalf of all other persons who may have a similar claim.

class-action

_____ property is a resource that you own as an individual.

Private

Kate Ace is a luxury purse brand that has its own distinctive logo . The company recently discovered that another retailer has been selling counterfeit Kate Ace bags. The legal dispute that will arise here is most likely to be governed by _____.

Property law

The strict scrutiny approach is applied to cases involving rights such as the

Right to travel

. _____ jurisprudence supports the idea that law can and should change to meet new developments in society.

Sociological

After months of debating the issue, the House of Representatives and Senate have both agreed to pass a bill that will increase the tax on alcohol sales. This type of legislation is called a(n) __________.

Statute

The ______ to the U.S. Constitution reinforces federalism by reserving some powers to the states and to the people.

Tenth Amendment

Which of the following is a national group of senior business leaders that has identified a general list of topics that organizational codes of business ethics should cover?

The Business Roundtable

Public Law

includes constitutional law, administrative law, and criminal law

Which of the following types of contracts are beyond the scope of application of the statute of frauds?

oral contracts for services that last more than 20 months

Courts have held that the existence of diversity of citizenship is determined by the citizenship of the __________

parties in a case

A negotiation between a seller and a buyer begins with each party stating their respective expectations in a competitive style. The seller starts with as high an asking price as is considered reasonable. Likewise, the buyer begins with the lowest reasonable price. In the context of negotiation methods, this scenario is an example of _____

positional bargaining

The ______ test is used if the classification involves either a suspect class or a fundamental constitutional right.

strict scrutiny

Angelo files a lawsuit against Franz alleging that Franz damaged his property. Esther, a judge, has reviewed the case and believes that the lawsuit between Angelo and Franz completely lacks any merit. She is convinced that the suit should not continue. In this case, Esther is most likely to __________.

terminate the litigation process on her own initiative

An arbitrator's award must __________

give a disclosure of findings and the reasons if an arbitration agreement so requires

Which of the following refers to judicial decisions that apply to legal problems and interpret the relevant constitutional, legislative, and regulatory laws?

Case law

_____ occurs when a trial judge requires the disputing parties to submit to the mediation process before a complaint can be litigated formally

Court-annexed mediation

Which of the following statements is true of the use of alternative dispute resolution (ADR) techniques?

Disputing parties can agree to use an ADR technique after a dispute arises.

Ryan and Rick enter into a business agreement to assemble and sell a monthly product subscription box for sports enthusiasts. A dispute arises over their partnership agreement. Ryan decides to file a lawsuit against Rick. In the middle of litigation, both Ryan and Rick decide that arbitration would be better and enter into an arbitration agreement. Which of the following statements is true of this situation?

This case is an example of a postdispute arbitration agreement.

Seth takes his laundry to Denise's Dry Cleaners. When Seth gets his clothes back, he notices that two of his shirts, perfect when brought in, are ripped. In this scenario, which of the following statements is true?

This was a mutual benefit bailment, and Denise's owed a duty of reasonable care.

A decision made by the Ninth Circuit Court of Appeals is more likely to be reviewed by the Supreme Court and to be reversed. T or F

True

A dispute arises when one party makes a claim that another party denies. T or F

True

A party to a contract is discharged when that party is relieved from all further responsibility of performance. T or F

True

A voidable contract is an agreement when at least one party has the right to withdraw from the promise made without incurring any legal liability. T or F

True

As a general rule, the law does not permit a lawyer to reveal confidential communications and testify against a client, even if called to do so at a trial. T or F

True

Courts have examined due care in negligence cases in terms of a balancing test. T or F

True

Courts throughout the United States have uniformly upheld mandatory arbitration statutory schemes as against the constitutional challenges where a dissatisfied party can reject an arbitrator's award and seek a de novo judicial review of that award. T or F

True

Defendants usually bring in third-party defendants when there is someone who may have liability to a defendant if the defendant has liability to a plaintiff T or F

True

Disadvantages of case law do not destroy the benefits of certainty, predictability, and stability provided by case law and stare decisis. T or F

True

Freedom of speech recognizes that there is no such thing as a false idea. T or F

True

Generally, an arbitrator's award does not need to set forth conclusions of law or the reasons for an award. T or F

True

If a dispute arises involving the rule of law in multiple states, judges will need to apply conflict of law rules to determine which state's substantive rules of law to use. T or F

True

If a judge or regulator were to make a ruling or regulation concerning a company in which he or she is a stockholder, they would be creating a conflict of interest. T or F

True

If a plaintiff receives an answer that contains counterclaims, the plaintiff should file a reply in which each counterclaim allegation is specifically admitted or denied T or F

True

If the capture rule is applied to subsurface rights, a property owner of Parcel A would be allowed to drill and extract oil that flows underneath Parcel B, which is owned by his neighbor. T or F

True

It is fairly common for both a plaintiff and defendant to attach a series of interrogatories to their respective pleadings T or F

True

The important role and positive perception of arbitration among businesses today probably would not exist without the Federal Arbitration Act. T or F

True

The right of redemption allows a mortgagor, before foreclosure, to get back land upon payment of the full amount of the debt. T or F

True

Under quasi-strict scrutiny tests, a law can be found to be both valid and unconstitutional. T or F

True

Sheila contracted her friend Susan to paint her house for $3,000. Sheila did this as a favor to Susan as Susan was unemployed. Before she could finish the job, however, Susan got a job at a marketing company, which meant that she could not complete her contract. As Susan is her friend, Sheila decided not to enforce the contract, and she let Susan keep the $1,000. This scenario is an example of a(n) ______.

Waiver

Subject matter jurisdiction is defined as _______

a court's power over the issues involved in a case

When the result of a lawsuit at the trial court level is appealed, the successful party in the trial court is called the _____.

appellee

Compensatory Damages

awarded for breach of contract attempt to make a plaintiff "whole" as though in an economic sense the defendant had not breached the contract

Which of the following is an example of a bailment?

babysitting your sister's child for the weekend

An employment contract denies payment of a full month's salary if an employee does not clock in 160 hours of work. This is a(n) ______.

condition subsequent

Contract Law

covers the rules of how owners transfer resources by exchanging them

Private Law

covers those legal problems and issues that concern your private resource relationships with other people

A key provision of the Fair Credit Reporting Act requires __________.

credit reporting agencies to follow procedures that will assure the maximum accuracy of information

Stakeholder theory suggests that ethical corporate behavior __________.

depends on managers who recognize and take into account the various stakeholders whose interests a corporation affects

Common Law

emphasizes the role of judges in determining the meaning of laws

Tort Law

establishes rules for compensation when an owner's legal boundaries are wrongfully crossed by another.

Tom gifted 50 acres of land to Clark County as long as the land is used as shelter and sanctuary for rescued animals. Based on these facts, Clark County has a

fee simple defeasible

The general way of perfecting a security interest under Article 9 is to file a(n)

financing statement

Nelly and Mario are graffiti artists who belong to a minority community. They create designs and paintings depicting social issues that affect their community. They make sure their artwork is not obscene and does not incite a hateful reaction. They exhibit their art pieces at art shows. In this case, which of the following First Amendment protections is applied to the actions of Nelly and Mario?

freedom of speech

Contracts are

legally enforceable promises

The Latin meaning of the word stare decisis is __________.

let the prior decision stand

Punitive damages (exemplary damages)

monetary damages in excess of a compensatory award, usually granted only in intentional tort cases where defendant's conduct involved some element deserving punishment

Terrell files a complaint against Chad for negligence with the court clerk. After Terrell receives an answer from Chad in response to the summons, Terrell believes that he can win based solely on his original complaint and Chad's answer. In this case, Terrell is most likely to file a __________.

motion for a judgment on the pleadings

Mediators and arbitrators are similar because they both __________

must be disinterested third parties

Mediators and arbitrators are similar because they both __________.

must be disinterested third parties

A municipality zoning ordinance attempts to regulate the placement of satellite dish antennas in residential areas by specifying the size and location requirements. The Supreme Court rules that the zoning ordinance is unconstitutional as it violates the Federal Communications Commission Regulation law. In this case, the ruling of the Supreme Court illustrates the concept of ______.

preemption

In civil cases, the _____ standard is achieved when there is greater weight of evidence in support of a proposition than there is against it.

preponderance of evidence

Civil Law

relies more on legislation than on judicial decisions for law

Olflex Corp. files a complaint against Tenfour Corp., and the parties are in the discovery phase of litigation. A major issue in the dispute is the wording of the original sales contract between the two corporations. In this case, to get Tenfour to present the original sales contract, Olfex is most likely to __________.

request for production of documents

Rachel owns a beach house and wants to build a deck. Zoning restrictions limit decks to 120 square feet, but Rachel wants to build one that is 144 square feet. Which of the following should Rachel do next?

she should ask for variance

Criminal Law

specifies various offenses against the proper order of the state

Constitutional Law

the interpretation and application of either the federal or state constitutions

In the absence of a statute, the rights and duties of the disputing parties to a submission for arbitration are described and limited by _____.

the parties' agreement

California imposes new regulations on the production of orange juice, which decrease the standards for production below the current federal health and safety standards. It is alleged that this law is inconsistent with the regulations of the federal Food and Drug Administration. The Supreme Court held that the state law violated the federal food and drug regulations and declared the law unconstitutional. In this case, which of the following supports the Court's decision?

the supremacy clause

Property Law

which involves the recognition of exclusive right in both tangible and intangible resources. (land, goods, copyrights, tradmarks)