Business Law Final Exam
Eliza is a state court judge. Flora appears in a case in Eliza's court, claiming that Glover breached a contract. Which of the following actions may Eliza take? a. Award damages or issue a decree of specific performance b. Imprison Glover, but not Flora c. Imprison Flora, but not Glover d. Order the parties to pay Eliza to render a favorable ruling
A
In Benny v. City Car Dealership, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Daphne v. Even Steven Auto Deals, Inc., a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to a. allow the minor to cancel the contract. b. disregard the Benny case. c. order the minor to cancel the contract. d. require the minor to fulfill the contract.
A
In a suit against Knut, Leon obtains an injunction. This is... a. an order to do or to refrain from doing a particular act. b. an order to perform what was promised. c. a payment of money or property as compensation. d. the cancellation of a contract.
A
Jane enters into a contract with Jill to provide 100 roses for a dinner party. Jane fails to deliver the roses. Jill initiates a suit against Jane, asking the court to order Jane to deliver the roses. Jill is a. the plaintiff. b. the defendant. c. the binding authority. d. the persuasive authority.
A
Maggie and Nate enter into a contract for the sale of a car, but Nate later refuses to deliver the car. Maggie asks a court to order Nate to perform as promised. Ordering a party to perform what was promised is a. specific performance. b. damages. c. rescission. d. beyond the court's authority.
A
Standard Business Company appeals a decision against it, in favor of Top Flight Corporation, from a lower court to a higher court. Standard is a. the appellant. b. the appellee. c. the defendant. d. the plaintiff.
A
To Cody, the written law of a particular society at a particular time is most significant. Cody is a a. legal positivist. b. legal rationalist. c. legal realist. d. person who adheres to the natural law school.
A
The Bay City Planning Department, the Coastal County Zoning Commission, the Delaware Environmental Quality Agency, and the U.S. Bureau of Land Management issue regulations. These rules constitute a. administrative law. b. case law. c. stare decisis. d. statutory law.
A
The Tenth Amendment to the U.S. Constitution: a. reserves to the states all powers not granted to the federal government. b. reserves to the federal government all powers not granted to the states. c. requires each state in the union to have its own constitution. d. does not exist.
A
49. Karen is a judge hearing the case of Local Dispatch Co. v. National Transport Corp. Applying the relevant rule of law to the facts of the case requires Karen to find previously decided cases that, in relation to the case under consideration, are a. as different as possible. b. as similar as possible. c. at odds. d. exactly identical.
B
Mikkala is a well-known professional athlete. Mikkala Co. owns trademarks, including "mikkala," that it uses to sell merchandise. Norm owns photos of Mikkala that he markets through his Web site, mikkalapics.com. Under the principles discussed in "A Sample Court Case," Experience Hendrix, L.L.C. v. Hendrixlicensing.com Ltd., Norm's domain name most likely a. constitutes nominative fair use of the "mikkala" mark. b. infringes the "mikkala" mark. c. is a legitimate description of Mikkala Co.'s products. d. is a legitimate reference to Mikkala Co.'s products.
B
Judge Julia decides that the precedent for the case she is hearing is no longer correct due to technological changes. She overturns the precedent when she decides the case. It is most likely that her case will a. go unnoticed by the public. b. be thrown out of court. c. receive a great deal of publicity. d. be ignored by the media.
C
Leona enters into a contract with Munchie Bakery to cater a sales conference. When the conference is postponed indefinitely, Leona asks a court to cancel the contract and return the parties to the positions that they held before its formation. This request involves a. specific performance. b. an injunction. c. rescission. d. an action that the court cannot order.
C
Smith Saddlery is a saddle shop subject to the laws of New York. In New York, the highest- ranking (superior) law is a. a case decided by the New York Court of Appeals. b. a rule created by a New York state administrative agency. c. a provision in the New York constitution. d. a statute enacted by the New York legislature.
C
51. There are no precedents on which the court deciding the case Financial Investment Co. v. Goodhands Insurance, Inc., can base its decision. The court may consider a. issuing an order according to the judge's personal values. b. refusing to decide the case. c. postponing a decision until a precedent is available. d. basing a decision on public policy or social customs and values.
D
The Texas Supreme Court decides the case of Livewire Co. v. Power Corp. Of nine justices, five believe the judgment should be in Livewire's favor. Justice Bellamy, one of the five, writes a separate opinion. The four justices who believe the judgment should be in Power's favor join in a third separate opinion. 66. Refer to Fact Pattern 1-1. These opinions are collected and published in volumes called a. citations. b. codes. c. regulations. d. reporters.
D
Being a small-business owner means that you will never have to take on the role of the finance manager, marketing manager or accountant. True or Flase
False
Uniform laws apply in all states, including those in which the laws have not been adopted. True or False
False
Common law is the same as statutory law. True or False
False, common law comes from judicial side and statutory law comes from legislative
Administrative law is a source of American law that is comprised of statutes. True or False
False, it is a body of law that governs the actions of administative agencies of the government
Stare decisis is a doctrine obligating judges to help persons who have failed to protect their own rights. True or False
False, it is a common law doctrine under which judges are obligated to follow the precedents established in prior decisions
Common law is a term for the laws that are familiar to most of us. True or False
False, it is the body of law developed from custom or judicial decisions in English US courts, not attributable to a legislature
The American Law Institute was the only organization involved in developing the Uniform Commercial Code. True or False
False, it was created by the American Law insititute and the National Confernece of Commissionioners on Uniform State Laws
Government authorities cannot enforce national law. True or False
False, they can
State constitutions are supreme within their respective borders. True or False
True
A court may depart from a precedent if the precedent is no longer valid. True or False
True
Equity is a branch of law founded in justice and fair dealing that seeks to supply a remedy when no adequate remedy at law is available. True or False
True
If a debtor does not pay a mechanic's lien, the debtor's property can be sold to satisfy the debt. a. True b. False
True
