MGT220 Exam 1

What is an attractive nuisance?

An attractive nuisance is a dangerous condition or item that a reasonable child would want to approach.

All of the following are methods to enforce an arbitrator's decision except: a. Writs of Execution. b. Garnishment. c. Fines. d. Liens

C. Fines

An example of an intentional tort is:

Defamation, Assault, Malicious prosecution

True or False: Some of the rights in the Constitution's Bill of Rights extends to Corporations

True

Explain White Collar Crime.

White collar crimes are characterized by deceit, concealment, or violation of trust. They are committed by business professionals. They generally involve fraud, and the employees committing the crimes are motivated by the desire for financial gains or fear of losing business standing, money, or property. Fraud is the intentional misrepresentation of material facts for monetary gain. This type of crime is not dependent on threats or violence.

A person trained in conflict resolution is considered

a mediator

All of the following are examples of results of unethical business actions except: a. Recruitment and retention problems. b. Lower employee salaries. c. Negative employee relations. d. Poor company reputation

b. Lower employee salaries

Alex has been sued by Will for failure to pay rent for their apartment which source of law will govern thislawsuit? a. Administrative law .b. The Constitution. c. Civil Law. d. Criminal Law

c. Civil Law

Forms of Alternative Dispute Resolution ("ADR") include all of the following except: a. Mediation. b. Settlement. c. Litigation. d. Arbitration

c. litigation

Regulations are: a. Laws passed by Congress. b. Rules made by local governments. c. Derived from decisions made by judges. d. Rules adopted by administrative agencies.

d. Rules adopted by administrative agencies

Consequences of being convicted a crime include all of the following except: a. Prison. b. Fines. c. Community service. d. Damages

d. damages

T/F: All of the sections of the Bill of Rights apply to corporations and commercial activities

False

The _____ gives the federal government the authority to regulate interstate and international commerce

Commerce Clause

T/F: The 14th Amendment is a part of the Bill of Rights

False

The crime of larceny includes

The trespassory taking and control of personal property.

Describe the typical steps in Arbitration.

(1) number of arbitrators is decided, along with how they will be chosen; (2) a timeline is established; (3) evidence is presented by both parties; (4) the arbitrator will make a decision and usually makes one or more awards.

What is a pump-and-dump scheme?

A pump-and-dump scheme involves fraud by spreading false or misleading information to create a buying frenzy that will "pump" up the price of the stock and then the fraudsters "dump" shares of the stock by selling their own shares at the inflated price. Once those shares are dumped, the fraudsters stop hyping the stock and the price per share typically falls, causing investors to lose money.

All of the following are elements of negligence except:

A reasonable person.

The elements of res ipsa loquitor that a plaintiff must establish in a product liability lawsuit include all of the following except: a. The defendant breached his or her duty of care. b. The defendant had control over the product in question while it was being manufactured. c. Under normal circumstances, the product would not cause damage or harm, but damage or harm has occurred in the case in question. d. The behavior of the plaintiff did not significantly contribute to the harm caused.

A. The defendant breached his or her duty of care.

If an activity causes a foreseeable and highly significant risk of physical harm even when reasonable care is exercised by all actors, and the activity is not one of common usage, it is:

Abnormally dangerous.

The criminal act necessary to commit a crime is known as:

Actus reus

What is an Unfair Trade Practice and which Administrative Agency regulates it?

An unfair trade practice is any deceptive or fraudulent business practice or act thatcauses injury to a consumer. The FTC investigates and regulates.

Roger and Larry are having a dispute regarding their joint business. They want to have a binding resolution to their dispute, but they would prefer to have the dispute handled privately and by someone with special expertise. The best form of dispute resolution for their problem would be

Arbitration

The following are the type of awards that may be issue by an arbitrator

Bare Bones and Reasoned

The burden of proof is a criminal case is:

Beyond a reasonable doubt.

Define business ethics

Business ethics are the blueprint for building a successful organization. They outline acceptable levels of behavior for each individual who makes up the organization

Distinguish between civil and criminal law.

Civil and Criminal law differ in numerous ways, including, but not limited to: who initiates the case (civil - plaintiff as private party; criminal - prosecutor as agent of state/federal government); how the case is decided; what punishments or penalties are issued; the burden of proof in a civil case is lower (a preponderance of the evidence)than a criminal case (beyond a reasonable doubt); and what legal protections are provided (for example, a criminal defendant may be appointed an attorney).

Describe the differences between contributory and comparative negligence.

Contributory negligence has some fault attributed to the plaintiff, and damages are reduced accordingly, whereas comparative negligence disallows any fault to be attributed to the plaintiff.

The _____ of the constitution offers the most extensive protection for businesses.

Due Process Clause

T/F: The Patient Protection and Affordable Care Act's (also known as Obamacare) provision that mandated that individuals not insured through employment obtain minimum essential health insurance or face a penalty was upheld as constitutional by the 11th Circuit

False

True or False: Securities are only regulated by federal laws.

False - state laws also regulate securities

The doctrine aimed at dividing the governing powers between the federal governments and the states is:

Federalism

Which of the following is a special relationship giving rise to a duty to act to aid or protect one in peril?

Hotel and guest, and school principal and student.

Ethical rules can be based on deep values of an organization which may include:

How the organization gives back to the community

Distinguish between larceny and embezzlement

Larceny occurs between two individuals, when one unlawfully takes the property of another, and embezzlement occurs when a person is entrusted with property or an item of value and takes it with no intention of returning it.

When an individual creates and promotes malicious falsehoods about another that individual may be liable for:

Libel, Slander, Defamation.

A process in which a third party selected by the disputants helps the parties to voluntarily resolve theirdisagreement is known as

Mediation

Describe Negligence

Negligence occurs when an individual or business does not exercise their reasonable duty of care, which causes measurable harm to another person that may be remedied in monetary damages.

What's the first step in Alternative Dispute Resolution?

Negotiation

What's the definition of negotiation?

Negotiation is the process by which parties with nonidentical preferences allocateresources through interpersonal activity and joint decision making

Explain Police Power and the Dormant Commerce Clause

Police Power refers to the residual powers granted to each state to safeguard the welfare of their inhabitants. The Dormant Commerce Clause is the limitation on the authority of states to regulate in areas that impact interstate commerce.

The three dimensions of the triple bottom line include

Profits, People, Planet

Distinguish between corporate social responsibility and social marketing

Social marketing attempts to change the attitudes and behaviors of consumers by using a variety of marketing methods, whereas corporate social responsibility is a sustainable effort that can be measured.

Mediation focuses on

Solutions

What is the difference between state and federal law?

State law is specific to that state and is only persuasive to judges in other states,whereas federal law is binding upon all states and preempts state law

The doctrine aimed at dividing the governing powers between the federal governments and the states is:

Supremacy Clause

The benefits of Corporate Responsibility for a business include

Talent attraction, Consumer influence, improved perception by investors.

What is the Foreign Corrupt Practices Act?

The Foreign Corrupt Practices Act prohibits bribery payments by U.S. companies to foreign government officials with an intent to influence foreign business results. One example of bribery would be a situation in which a pharmaceutical company offers special benefits to individuals who agree to prescribe their medications.

What is the supreme law of the land? What are statutes? What are ordinances? What is an administrativerule?

The United States Constitution is the supreme law of the land. Statutes are laws enacted by Congress and federal and state legislative bodies. Ordinances are rules enacted by local legislative bodies (such as a county or municipality). An administrative rule is a law issued by administrative agencies under the authority given to them in statutes

Which of the following is a goal of an arraignment?

The defendant is informed of the charge and enters a plea.

Explain the differences between binding and non-binding arbitration.

The difference between binding and non-binding arbitration is: in binding arbitration, the decision of the arbitrator is final, and except in rare circumstances, neither party can appeal the decision through the court system. In non-binding arbitration, the arbitrator's award can be thought of as a recommendation: it is only finalizing if both parties agree that it is an acceptable solution.

Where did the term Corporate Responsibility originate?

The earliest published book about CSR is Corporate Responsibility of theBusinessman, published in 1953. This book introduced the concept of companiesgiving back as a form of investment in the future. The idea came from a generationthat had survived some of the hardest times in our world and wanted to make it abetter place for generations to come.

How does the process of negotiation work?

The goal of negotiation is to find a solution to an issue. There are two major goals: (i)relational (focused on building, maintaining, or repairing a partnership, connection, or rapport with another party) and (ii) outcome (concentrated on achieving certain end results).

Name the steps in Mediation.

The steps of mediation are: a. Mediator's Opening Statement: mediator introduces himself or herself and explains the goals of mediation. b. Opening Statements of Plaintiff and Defendant: both parties are given the opportunity to speak, without interruption. During this opening statement, both parties are afforded the opportunity to describe the nature of the dispute and their desired solution. c. Joint Discussion: the mediator will try to get the two disagreeing parties to speak to one another and will guide the discussion toward a mutually amicable solution. This part of the mediation process usually identifies which issues need to be resolved and explores ways to address the issues. d. Private Caucus: during this stage, each party has the ability to meet and speak privately with the mediator. Typically, the mediator will use this time to learn more about what is most important to each party and to brainstorm ways to find a resolution. The mediator may ask the parties to try to put aside their emotional responses and resentments to work toward an agreement. e. Joint Negotiation: after the private caucuses, the parties are joined again in the same room, and the mediator presents any newly discovered insight to guide them toward an agreement. f. Closure: during this final stage, an agreement is reached, or it is determined that the parties cannot agree. Either way, the mediator will review the positions of each party and ask them if they would like to meet again or explore escalating options, such as moving the dispute to court

Describe the 2 types of Due Process.

The two types of Due Process are: substantive and procedural due process. Substantive due process means that laws that will deprive an individual of his or her life, liberty, or property must be fair and not arbitrary. Laws passed should not affect fundamental rights, and regulations are required to meet the rational-basis test. In other words, the government must demonstrate that the law bears a rational relationship to a legitimate state interest. Procedural due process means that governments must use fair procedures when depriving an individual of his or her life, liberty, or property

Define Torts.

Torts are wrongs committed against others who suffer some form of damage as a result.

T/F: Businesses can be charged with crimes.

True

What country is the United States legal system derived from?

United Kingdom

Where can you find a codification of federal laws?

United States Code

Which of the following is correct with regards to the powers of state government in the United States? a. All powers not specifically enumerated to the federal government are reserved to the states. b. The power over crimes is reserved to the federal government. c. The power over the militia is reserved to the states. d. The powers over the federal government are superior to every state power

a. All powers not specifically enumerated to the federal government are reserved to the states.

According to Kimberlee Leonard of the Houston Chronicle the elements that belong in a Code of Conduct fora company include all of the following except: a. Office Hours. b. Professional behaviors. c. Regulatory ethics. d. Legal considerations.

a. Office Hours

The legislature of the state of Wyoming enacts a new statute that sets standards for the liability of businesses selling defective products. This statute applies in: a. Wyoming only. b. only Wyoming and its bordering states. c. all states. d. all states but only to matters not covered by other states' laws

a. Wyoming only.

What is the function of law in the United States? a. Establish standards. b. Promote consistency. c. Promote, provide, and maintain order. d. All of the above

d. All of the above

Four sources of law in the U.S. legal system are: a. Constitutional law, criminal law, civil law, and maritime law. b. Federal law, state law, international law, and maritime law. c. Statutory law, case law, equity, and common law. d. Constitutional law, judicial law, legislative law, and administrative law

d. Constitutional Law, Judicial Law, Legislative Law, and administrative law

All of the following are the most common applications of arbitration in the business context except: a. Labor. b. Business Transactions. c. Property Disputes. d. Torts

d. torts

As a judge, Baxter applies common law rules. These rules develop from:

decisions of the courts in legal disputes.

Who decides the business ethics for a company

leadership

What's the definition of Corporate Responsibility?

the idea that a business is given the opportunityand privilege to make the world a better place