Legal Environment of Business: Final Study Guide
T/F: An executed contract is one that is fully performed.
True
T/F: Contracts are legally enforceable promises.
True
T/F: Defamation is the publication of untrue statements about another that hold up that individual's character or reputation to contempt and ridicule.
True
T/F: Due process requires that a defendant must have certain minimum contacts with a state in order to be hailed into a court under a long-arm statute.
True
T/F: Federal sentencing guidelines reduce criminal fines for legal violations in companies that have taken specific steps to self-police ethical/legal conduct.
True
T/F: Formalism is primarily a duty-based view of ethics that creates moral that one must satisfy in order to be ethical.
True
T/F: In most states, a jury's decision must be unanimous.
True
T/F: Jurisprudence refers to the general body of law interpretations by judges as different from legislation passed by legislators.
True
T/F: Legislation passed by the Congress is called a statute or an act.
True
T/F: Modern business ethics reflects elements of both formalism and consequentialism, bu tends to focus more heavily on consequentialism.
True
T/F: News media are protected under the First Amendment when they publish information about public figures and public officials.
True
T/F: Of the world's 100 largest economies, 49 of them are countries and 51 are companies.
True
T/F: Rule-of-law nations adopt laws supporting the private market because it is in everyone's interest, including the lawmakers'.
True
T/F: The U.S. Constitution does not specify the size of juries required in civil and criminal trials.
True
T/F: The United Kingdom, the United States, Canada, Jamaica, India, Nigeria, New Zealand, and a few other countries-----all colonized by England-----follow the common law.
True
T/F: The first ten amendments are known as the Bill of Rights.
True
T/F: The separation of powers between levels of government is known as federalism.
True
T/F: You can commit a civil assault without committing a civil battery.
True
When various laws are not consistent, which of the following is given first priority?
United States Constitution
Making ethical or moral decisions to promote the common good is a significant principle of ethical __________.
Utilitarianism
To enter another's land without consent or to remain there after being asked to leave constitutes the tort of __________.
trespass
A(n) _________ contract is one that appears to be an agreement but lacks an essential requirement for validity and enforceability.
void
Mike has a car accident and Maria saves his life. To show his appreciation, Mike gives Maria a life estate in one of the homes he owns. Maria lives there for a while and then accepts a job in another state so she gives the property to her sister Jackie. (This is permissible to do.) Jackie owns the property until:
Maria dies.
A ___________ is an intentional misrepresentation of a material fact that is justifiably relied upon by someone to his or her injury.
Fraud
Which of the following involves an intentional misstatement of a material fact that induces one to rely justifiably to his or her injury?
Fraud
Larry loses his watch in a city park. Frieda finds the watch lying in the grass while strolling through the park. Frieda discovers Larry's name and address engraved on the back of the watch. Which of the following is correct (assume no city statutes exist regarding lost property)?
Frieda may keep the watch because it is a lost property.
Which of the following is true about preemption?
If a federal law preempts a subject; state law that attempts to regulate it is unconstitutional.
_________ us usually defined as the desire to bring about certain results.
Intent
Which of the following is true about freedom of speech?
It covers both verbal and written communications.
Which of the following is true of tort law?
It sets limits on how people can act and use their resources.
A _______ is used to recover damages as a result of printed defamation of character.
Libel
The __________ jury is the trial jury that returns a verdict in both criminal and civil cases.
Petit
The party who files a civil action is called the _________.
Plaintiff
Which of the following is a mutual benefit bailment?
Renting a car
Economic growth depends "in particular on the rule of law" which is a "lodestar for all countries." Why?
Rule-of-law nations adopt laws supporting the private market because it is in everyone's interest, including the lawmakers'.
The _________ Amendments to the Constitution guarantee the right to a jury trial.
Sixth and Seventh
A(n) _________ is an agreement containing mutual promises.
bilateral contract
Which of the following parties would have standing to sue in a case to stop the merger of two companies?
A shareholder of one of the two companies.
Which of the following is intangible property?
A patent
Who, among the following, does not have a duty of confidentiality?
A mechanic
________ property is an ownership fence which applies to resources like land that more than one individual owns jointly.
Common
________ law covers the legal principles that apply to government agencies, bureaus, boards, or commissions.
Administrative
A property based legal system:
Allows people to exclude others from interfering with what their efforts produce.
The main job of judges is to:
Apply the law to the facts.
Brooke has fallen asleep on the beach. Eight guys get into a circle around her and one gets real close and screams, "snake" into her ear. When she jumps up screaming in fright, they all start laughing at her. What tort have they committed?
Assault
The ___________ emphasizes consistency and compels a person to act as he believes everyone should act.
Categorical imperative
T/F: A unilateral contract is an agreement with only one promise, and only one party is committed to perform.
True
Which of the following terms refers to a person's ability to be bound by a contract?
Capacity
So significant is the role of judges in the United States that they determine the meaning of the Constitution and can declare void the legislation of Congress and the acts of the president. This illustrates that the legal system in the U.S. is based on ________.
Common law
The law protecting the owners of a business organization from the managers who run it for them is ___________.
Corporate governance
Which of the following provides the best definition of ethics?
Ethics is a formal system for deciding what is right and wrong and for justifying moral decisions.
T/F: A lawyer's first duty is to his client.
False
T/F: An assault is an illegal touching of another.
False
T/F: Contract law compensates owners whose resources are wrongfully harmed by the actions of others.
False
T/F: Freedom of speech is an absolute constitutional guarantee.
False
T/F: Freedom of speech relates to private action that restricts our ability to express ourselves.
False
T/F: Jurisprudence is the rule of law.
False
T/F: Law and "rule of law" are synonymous terms.
False
T/F: Sociological jurisprudence emphasizes that contemporary law should focus on legal principles that have withstood the test of time in a nation.
False
T/F: The Second Amendment to the Constitution holds that "No State shall...deprive any person of life, liberty or property without due process of law."
False
T/F: The contract clause applies to the federal government in many ways.
False
T/F: The federal government recognizes that states have no sovereignty.
False
T/F: The members of the U.S. Supreme Court are called magistrates.
False
T/F: The person against whom a criminal charge is filed by the prosecution is called the defendant, whereas the person sued in a civil case is called the respondent.
False
T/F: To be enforceable, a contract mist contain a written promise.
False
T/F: Touching can constitute a battery only when it causes physical injury.
False
Kate has entered into a binding agreement to sell a house to Michael. When Michael shows up to complete the deal as per the agreement, Kate refuses to go through with the transaction. Which of the following best categorizes Kate and Michael's issues with regard to classification of laws?
This is a private law issue regarding contract law.
T/F: A defendant can be found liable for a strict liability tort even though the defendant neither intentionally nor negligently caused the harm.
True
T/F: A tort is any civil wrong other than a breach of contract.
True
When the owner of an old airplane engine has it restored and has an airplane built around it, the owner of the engine now owns the entire airplane through the doctrine of __________, which refers to something "added."
accession
After the complaint is filed, the first thing the defendant must file is the:
answer.
Tony has admired Ann for months, but he has never talked to her. One day, Tony walks up to Ann and gives her a hug and a kiss. Ann is angry and decides to sue Tony. Tony has committed the tort of:
battery
The attorney-client privilege extends to:
communications made to the lawyer's employees.
The wrongful exercise of dominion (power) and control over the personal (nonland) resources that belong to another is known as __________.
conversion
An __________ contract is one that is partially or completely unperformed.
executory
A(n) ________ contract is the one in which the promised terms of the contract have been discussed by the parties.
express
The process of requesting and transporting the prisoner from one state to another is called _______.
extradtion
The intentional unjustified confinement of a non-consenting person is known as:
false imprisonment.
The separation of powers between levels of government is known as ___________.
federalism
A lawsuit that is totally lacking in merit is referred to as _________.
frivolous
Frequent, abusive, threatening phone calls by creditors are most likely to provide the basis for a claim of _________.
intentional infliction of mental distress
Written defamation, or defamation published over radio or television, is termed ________.
libel
The contract clause:
limits a state's ability to impair the obligaiton of a contract.
The deposited acceptance rule is also known as the _______ rule.
mailbox
False arrest is also called:
malicious prosecution
The negligence of professionals is called __________.
malpractice
A(n) ___________ contains a specific promise and a specific demand.
offer
In contracts that are not between merchants selling goods, a promise to keep an offer open for a certain time period must be supported by the offeree's consideration. Such an agreement to not revoke an offer is called a(n) _________.
option
Contract law applies to :
private agreements, making them legally enforceable.
A _________ deed makes no guarantees other than that the grantor surrenders all claim against the land.
quitclaim
In case an offeror withdraws his/her offer, it is called __________.
revocation
The Second Amendment consists of the:
right to possess guns.
Oral defamation is called:
slander
In order to hear a case, a court requires ___________.
subject matter jurisdiction
The eminent domain clause is contained in:
the Fifth Amendment to the Constitution.
According to the mirror image rule, _______.
the acceptance must exactly match the offer.
A lawyer's first duty is:
the administration of justice.
In a negligence suit, a plaintiff must prove that:
the defendant actually caused the injury.
Injurious falsehood is sometimes called:
trade disparagement
Customers refusing to leave a store after being asked to do so is an example of __________.
trespass
