Busn Bonus Chapter A

Over __________ percent of patent applications are approved

50%

In 2011, NYSE Euronext and ICE Group (one of the largest stock exchanges in the world) was warding off a hostile takeover bid by NASDAQ OMX, another U.S.-based stock exchange. NASDAQ OMX's intention was to break up NYSE Euronext after the acquisition. The NYSE-NASDAQ merger would have created the largest stock exchange in the world. To avoid an acquisition by NASDAQ OMX, the NYSE Euronext could have made a case that:

Combining NYSE with NASDAQ would never survive anti-trust scrutiny

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

Deregulation

are the largest source of tax income received by the federal government

Income taxes

Affordable healthcare continues to be a hotly debated topic in the United States. At this time, the government has passed legislation known as the Patient Protection and Affordable Care Act. The legislation's purpose is

To provide government mandatory healthcare for approximately 32 million U.S. citizens who are uninsured

The regulation of marriages and payments for personal injuries is covered by

civil law

The body of law created by court decisions rendered by judges is called __________ law.

common

The social movement designed to increase and strengthen the rights and powers of buyers in business transactions is called

consumerism

In 2011, a popular British newspaper, "News of the World," owned by media mogul Rupert Murdoch (whose empire is headquartered in the U.S.) was shut down due to accusations that the newspaper's journalists were illegally "phone hacking" in order to gather information for their stories. Due to the connection with a U.S.-based company, the U.S. District Attorney also opened an investigation. This type of investigation is handled under

criminal law

One day as Brian was speaking with one of his customers a shriek went up from the other side of the restaurant. When he rushed over, he found that one of his customers had spilled hot tea on her arm. If this customer was so inclined, she could __________ and the court would likely find in her favor.

sue the restaurant for negligence

The Pillsbury Doughboy is an example of a:

trademark

Cajun Cookin' sits on a large landscaped lot. Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take care of the landscape. They pay $200 per month for this service. After two weeks had gone by with no service, Brian called the company only to find out that the owner and the crew had decided to take a vacation and would not be back to do the landscaping for another two weeks. Lovely Landscapes:

will likely have to pay Brian damages if Brian decides to sue them

Your 15-year-old brother comes home with the great news that he has decided to buy his first car and has just agreed to give $10,000 to a complete stranger. He signed the contract and just needs to pay the stranger and pick up the car. Your dad is upset and calls the stranger to tell him your brother will not be buying the car. The stranger can

do nothing

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

duress

You verbally promise to pay your sister tomorrow the $25 that you owe her. This promise however, is not a negotiable instrument because

it is not in writing

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

negligence

Mark and Barry own the Warehouse Liquor Store in town. They are careful to pay all of their taxes in full and on time. Recently the local government has decided to raise the taxes imposed on the sale of cigarettes and liquor. Barry and Mark are upset about this because:

people will likely buy less cigarettes and liquor from them

The City of New Orleans filed suit against certain gun manufacturers for financial payments to cover the costs of police work and medical care as a result of gun violence. This suit was based on the legal principle of:

strict product liability

A(n) __________ patent refers to the situation when some inventors intentionally delay a patent application because they expect others to develop similar products or technolog

submarine

The Nike Swoosh and the Golden Arches of McDonald's are examples of a

trademark