MGMT 209 Final

What restrictions are on little Johnny if he is 17 years old due to the Fair Labor Standards Act?

the type of job can be limited due to dangerous situations

If unionized workers go out on strike claiming it to be a worker safety issue when it is determined by the NLRB that the strike was really an economic strike, what can the employer legally do?

they can fire the workers and not rehire them

If Keebler is claiming that they have Lite Townhouse crackers, what does this mean if they are in compliance with the Nutrition Labeling and Education Act of 1990?

they have 1/3 fewer calories than the regular Townhouse crackers

For an amendment is to become part of the Constitution, what percentage of the states must ratify it?

three-fourths

Mandatory topics of good faith bargaining include all the following except

who will be the union president

Mike and Mary are a married couple. Their personal property maximum of exempt property, in Texas, is:

$100,000 worth of personal property

The most important clause as far as business is concerned:

Article I, section 8.

Due process was extended to the states with:

14th Amendment

This gave equal protection to ALL individuals.

14th Amendment

At the height of the Great Depression, unemployment was at

30%

Eminent Domain is:

5th Amendment and private property taken by government

The Supremacy Clause is found in:

Article VI, Clause 2

What is not a covered area of water pollution control?

Acid Rain

Ricky and Lucy are driving to Los Angeles with Fred and Ethel. Ricky and Lucy own the car. Fred is driving and has a wreck. Ricky sues Fred for the damages to Ricky's car. What type of law(s) is/are involved when Ricky sues Fred?

Civil

Fred and Barney have a car wreck. Barney feels that Fred did not yield the right of way and demands that Fred pay the damages. Fred disagrees. Barney sues Fred. What type of law is involved?

Civil and Private

The major limitation on states abilities to regulate business activities is:

Commerce clause

The Superfund is also called:

Comprehensive Environmental Response, Compensation and Liability Act

Which is the most important source of law?

Constitutional Law

Which Texas Court must have an attorney in good standing as the judge?

County Court at Law

Which Texas court that can hear criminal matters is elected by a state-wide election?

Court of Criminal Appeals

The Necessary and Proper Clause does which of the following?

Covers all contingencies and source of constitutional flexibility

Herman is a drug dealer and is charged by the U.S. Prosecutor with drug trafficking. What type of law is involved?

Criminal and Public

The principle of "separation of powers" was

Designed to control the use of the powers granted by the states to the federal government

What was the first of the Federal Regulatory Agencies

ICC

The Supreme Court case that illustrates the functioning of the doctrine of the separation of powers was:

Immigration and Naturalization Service v. Chadha

Judge made law:

Is common law & utilizes precedent/stare decisis doctrine

Jack and Jill have dated for several years but Jill has eyes for Tom and goes out on a date with Tom. However, Jack sees then and gets very upset and screams and yells at Jill using every nasty, bad word that he can. He really loses it and acts very childish. Jill is extremely upset and Tom convinces her to sue Jack, who is very wealthy, for intentional infliction of mental distress. What will probably happen in the case of Jill v. Jack?

Jill will lose in Texas because with these facts, she cannot prove the Texas version of Intentional Infliction of Mental Distress

The power of the Commerce Clause has been seen through the struggle for power between the National and State governments in what three historical events?

McCulloch v. Maryland, Civil War and the Civil Rights Movement

What state has probably the greatest statutory protection against Employment at Will?

Montana

Uranium mines are regulated by the EPA and

NRC

The labor law that prohibited management from obtaining injunctions against labor disputes was/were:

Norris-LaGuardia

Which type of court makes precedent?

appellate courts

You own a processing plant that emits water pollution. You have obtained the proper permits to emit the pollution into the river. However, you upgrade your facility with state of the art pollution control devices which greatly reduces your amount of pollution. What would you want to with the excess amount of the permits?

Openly, legally sell the excess permits to another company

Brown v. Board of Education overturned:

Plessy v. Ferguson

Company X gives their employees a written personal policy, what if any of the following are true about that practice?

at least in a minority of states, it will probably be taken as an implied contract and Company X will be bound to it

Which of the following is NOT a source of law?

Presidential opinions

The British imposed the Sugar Act, Stamp Act, etc. on the Colonists to:

Raise revenue to pay for the French and Indian War

Which role(s) of law in the business world standardize(s) activities that would otherwise be consideredpurely private interactions of individuals?

Regulation

Bryan, Texas is in what Federal District Court?

Southern

To be liable under Trespass to Real Property

the owner must have established that that area is not an area for the trespasser to enter.

An application for Writ of Certiorari is used to gain admittance to what court?

U.S. Supreme Court

Ethel and Brandy enter into a contract where Ethel is to clean Brandy's house once a week for a year for$25 a week. A year goes by and Brandy has paid Ethel the agreed price for the year's work because Ethel has cleaned the house each week as per the contract, but then tells Ethel that Brandy does not want to continue the cleaning contract. What type of contract is/was this?

Valid

In Texas a special statutory lien only for automobile mechanics is called a(n):

Worker's lien

You should only ask a question in a trial that begins with "why" when:

You know the answer the witness will give.

Dr. Brown treats a patient who has AIDS. When Dr. Brown asked the patient how they got AIDS, they tell him/her that the only way they could have gotten AIDS was that you were his gay lover for years and his only lover. Therefore, the only way he could possibly have gotten the disease was from you. Dr. Brown calls you and tells you that you have been exposed to AIDS. However, you are not home and Dr. Brown leaves this message on the recorder: " I have a patient that tells me that you are the source of his AIDS. I can't tell you the patient's name but you need to get tested for AIDS." Your wife hears the message and hits you with a baseball bat when you get home. You sue Dr. Brown for Defamation when the test comes back negative. What is the probable result?

You lose because there is no defamation.

A Peremptory Challenge is:

a challenge to a prospective juror that takes little or no reason and limited to a certain number of challenges

John runs a stop sign and hits Mary's car. At trial John proves Mary was speeding. The jury finds that both John and Mary were negligent. John is found to be 20 per cent negligent and Mary was found to be 80 per cent negligent. The case was probably tried in:

a comparative negligence jurisdiction

Statutory law can come from all of the following except:

administrative agencies judicial decisions.

Under the National Labor Relations Act who is NOT a covered employee?

maids

McCulloch v. Maryland relates to:

national powers prevailing over state government

How many members are on the Texas Supreme Court?

nine

When can workers go out on a worker safety strike?

only if the employees are in danger

The major area of concern in water pollution is:

point sources

Enforcement of the law leads to:

predictability and stability

Quasi in rem jurisdiction:

probably doesn't exist anymore and is used to obtain territorial jurisdiction due to property of someone that is not necessarily the subject matter of the lawsuit being located in the court's physical jurisdiction

The Hart-Scott-Rodino Anti-Trust Act of 1976

requires per-merger notification

A very feeble 94 year old woman, Betty, is at the bank depositing her Social Security check when a very tall, muscular young male, Henrick, tries to steal her purse. Betty takes her .38 out of her pocket and shoots Henrick, killing him. Henrick's family flies in from Sweden and sues Betty for the wrongful death of Henrick. What will the court probably do?

rule for Betty because she used reason self defense

If the offeree dies the offer is

terminated by law

In the Clean Water Act the EPA sets the stiffest standards for:

drinking water

What are the legal duties of the directors and managers/officers to the owners of the corporation?

duty of due care and diligence and fiduciary duty

lf a regulatory agency enforces its laws against any type of business, it is called:

economy wide

The idea of reverse incorporation applies to:

equal protection, 5th amendment, and national government

An agency where the President of the United States appoints the head official and can remove the head official is called a/an:

executive agency and dependent agency

When the President of the United States creates a law to control the policies of the Executive Branch during his administration, this is called:

executive order

A President can independently create law through:

executive orders

A contract where one party has performed completely, but the other party has not can best be described as a/an:

executory contract.

How do you begin the process to create an LLC?

filing Articles of Organization with the Secretary of State in Texas

In 1997, the IRS issued new regulations on LLCs that

gave LLCs the right to decide to have an unlimited existence

If the FTC feels that the advertisement is harmful to consumers to such an extent that they want to remove the advertisement immediately, then the FTC can:

go to U.S. District Court for an injunction.

A challenge for cause in voir dire is:

granted by the judge of the case.

If two companies want to merge that sell the same products in a different part of the country, what type of merger would this be?

horizontal and geographic extension merger

If a group of competitors get together and agree to not deal with one specific competitor, this is what type of anti-trust violation and handled by what rule?

horizontal boycott, per se

The United States merger guidelines can apply to:

horizontal competitors, vertical competitors, conglomerate mergers, and potential competitors

If a Florida manufacturer of widgets that only sells its widgets in Florida merges with a North Carolina manufacturer of the same widgets who only sells his widgets in North Carolina, this would be a/an:

horizontal geographic extension merger.

When the EPA sets the NAAQS what is of primary concern to the EPA?

human beings

Austin is following Peter's instruction in an agency relationship. Peter has given Austin the specific instructions to drive the car the most direct route using interstate highways when possible. Austin is driving from Houston to Los Angeles. When Austin arrives in El Paso the interstate is closed due to bad weather so he takes an alternate route. Austin is using:

implied power.

Henningensen v. Bloomfield Motors established which type of products liability?

implied warranty theory

Little Johnny is 14, where can he work outside of his parents own business under the Fair Labor Standards Act?

in the acting profession, as a paperboy, and some farming situations

Search and seizure applies to:

individuals, corporations, and 4th amendment

What is price discrimination?

Selling your product to one entity for one price and selling the same product to another entity for a different price without justification

Which of the following statements best describes the procedures under the Clean Water Act?

The federal government sets the standards, the state governments enforce the standards and if they do not the federal government enforces them

Lee takes a picture of the sunset with a windmill in front of the sun. The windmill is not associated with any product or company. He decides that he wants to protect the photograph as his intellectual property. His best way to do so would by:

copyright

Under Sarbanes-Oxley who must be on the audit committee?

Outside directors

Spencer is a single adult with no children, his personal property maximum of exempt property in Texas is:

$15,000

When the first cleanup barge reached the Exxon Valdez disaster site, 14 hours after the accident, how much of the Alaskan coastline (in miles) was covered in oil?

1100

If your primary objective is to give all the owner(s) limited liability, your choice for a type of business entity should be a:

corporation

One of the major remedies in advertising as we discussed in the Volvo case is:

corrective advertising.

Mike and Mary are a married couple. Their rural homestead in Texas is:

200 acres and all the improvements thereon

During the Great Depression at the time that FDR was implementing the New Deal what was the rate of unemployment in the United States?

30%

For a representative election to be held, the union must collect authorization cards from how much of the work force?

30%

The Age Discrimination in Employment Act and its subsequent amendments protects workers who are:

40 and above.

When attempting to purchase what percentage of a company's stock must you notify the SEC of your proposal and what is it called?

5%, tender offer

The 5th Amendment applies in:

criminal cases.

Which of the following contracts MUST be in writing?

A contract that cannot be performed in a year and an earnest money contract to sell your house

Which of the following statements about drug testing by your employer is/are true?

An employer can do a drug test on the employees involved in an accident at work. An employer can do an announced drug test for everyone if the drug test is far enough in the future to give the employee the time to get any illegal drugs out of their system.

Defenses to trespass include all of the following:

A trespasser enters the property to assist a non-trespasser who is in danger. A trespasser enters the property to assist a trespasser who is in danger. A trespasser enters the property to save the property from danger.

In air pollution, a state is subdivided into:

ACQR

What profession first used LLPs in large numbers?

Accountants

Proxy solicitation is:

Allowing someone else to vote your shares and is highly regulated by the '34 act

Law is:

An abstract term and a collection of rules and regulations and the enforcement thereof

The most significant power to regulate business is found in:

Article I Section 8

Which of the following in a possessory lien?

Artisan's lien

If a factory is built in 1990 and emits air pollution, what type of pollution control devices would be required to be installed by the factory?

BACT

If a factory was built after the Clean Water Act went into effect, what type of pollution control device must be installed?

BACT

Which type(s) of businesses cannot be a LLC?

Banks that are insured by the FDIC and insurance companies

What type of securities are debt obligations of the corporation?

Bonds, debentures, and equipment trust bonds

What document sets the rules that govern the operation of the corporation?

Bylaws

Which of the following are currently required by the OPA?

Every oil tanker must have an oil cleanup contingency plan in the event of an oil spill. A certificate to be allowed to enter the United States form the U.S. Coast Guard.

Which of the following federal regulatory agencies was/were created during the Social Conscious Era of the 1960s and 1970s?

CPSC, OSHA, and EPA

What is the birth certificate of the LLC?

Certificate of organization

Reorganization bankruptcy for individuals with a set income is found in what chapter of the federal bankruptcy code?

Chapter 13

Liquidation is handled under what section of the bankruptcy code?

Chapter 7

The FTC usually enforces:

Clayton and FTC

Price discrimination is handled by what law(s)?

Clayton and Robinson-Patman

What one aspect of employment does the Equal Pay Act deal with?

Compensation

If you agree to a contract and under the terms of the contract you must begin performance immediately and perform under the contract until a stated event in the contract occurs, you have entered into what type of contract?

Condition subsequent contract

If two totally unrelated companies want to merge this would be what type of merger?

Conglomerate merger

The ultimate control over regulatory agencies is held by:

Congress

Consumer remedies for false advertising can include:

Contracts under common law but it gives little or no remedy. Torts under common law but it is difficult for the consumer to win. Express warranty under the UCC if the seller makes an express warranty.

If your primary objective is to be able to raise capital from the public, which form of business entity is the correct choice?

Corporation

If you want to create a separate legal entity, which form(s) of businesses entities do so?

Corporation and Limited liability company

Which Texas appellate court is not a true appellate court in that the trial is a retrial of the case?

County Court and County Court at Law

The Rehabilitation Act gave us which of the following?

Curb cuts in sidewalks, hire the handicapped programs, affirmative action, and handicapped parking

Unfair advertising was basically outlawed by __________________ but brought back by __________________.

FTC Improvements Act of 1980; Anti-cigarette advertisements like the Joe Camel advertisement

An example of an independent agency is/are:

FTC, NLRB, SEC, and FCC

Which labor law was passed by Congress over a presidential veto?

Labor-Management Relations Act

If the false advertisement concerns the advertiser's own product and if they use a false description or representation, then the false advertiser can be liable under:

Lanham Trademark Act of 1946.

FTC vs. Superior Court Trial Lawyers Association:

Dealt with horizontal price discrimination and issued a decision by the per se rule with the exception that horizontal price discrimination is allowed if it is the only way to do it

Which of the following are duties of the CPSC?

Develop and issue consumer product safety standards, issue labeling standards, and issue minimum performance criteria for products

One of the biggest companies to benefit from the Sonny Bono Copyright Extension Act of 1998, as discussed in class, was:

Disney

Under which type of discrimination do you have to prove intent to discriminate?

Disparate Treatment and Differential Treatment

There are two major functions of the legal system. When you are sued in court this is an example of what type of major function of the legal system?

Dispute Resolution

The Kefauver-Harris Amendment deals with:

Drug effectiveness

Under Wagner who is a covered employee?

Electrical workers

If Jack sues Jill but recovering money does him no good, Jack is seeking what types of damages?

Equitable

When you want to correct inaccurate billing on a credit card statement, what law can you use?

Fair Credit Billing Act

Which consumer act applies to collection agencies?

Fair Debt Collection Protection Act

What are the penalties for violation of the '33 Act?

Five years in prison and $10,000 fine

Where can little Johnny work if he is 15 under the Fair Labor Standards Act?

For his parents in the family business and at a fast food eating establishment if you stay away from the deep fryers.

Regulatory agencies were held to be invalid or at least constitutional suspect during what President's administration?

Franklin D Roosevelt

Joe Candidate is running for office and tells the media that his opponent is having an illicit affair with another man who is only 17 years old. He does not identify the underage man. His opponent, Fred Opponent, sues Joe Candidate for defamation. Which of the following statements is most correct.

Fred Opponent will win but only if he proves the statement was defamatory and made with malicious intent

Where did LLCs begin?

Germany

What test do you use to prove disparate impact?

Griggs Test

What caused the trusts to become powerful in the late 1880s?

Growth of corporations, prosiness attitudes of the courts, and republican domination

You are at a party and Herman gets very drunk. You try to take his keys away from him so that he will not drive home drunk. To get the keys away from Herman you hold him down and make him give you the keys by force. Herman is not hurt. Once he sobers up, Herman sues you for assault, battery and false imprisonment. Which of the following is correct about this situation?

Herman wins if you acted unreasonably. You win if the court finds that you were privileged in your actions.

There are at least three eras of federal regulatory agencies. The FDA was created during which one?

Historical

Lucy sues Ethel for breaking her food processor. What type of damages can Lucy expect to receive if she wins the lawsuit?

Legal damages and money

If Chrysler merged with General Motors, what type of merger would this be?

Horizontal merger

Sam points a water pistol at Jane who thinks Sam is going to kill her. Jane is terrified and runs away. Jane sues Sam. What will probably happen?

If the judge or jury felt that a reasonable person would be afraid, they would rule for Jane. If the judge or jury felt that it was unreasonable to be afraid of that particular water pistol, they would rule for Sam.

The only real positive union gain prior to the Great Depression in 1929 was the:

Immigration Act of 1924.

Which of the following is not a true contract?

Implied by law contract

Which of the following is/are NOT covered by the EPA but probably will be in the future?

Indoor air pollution and urban run off

If Carnival Cruise Lines dumps the trash hold on the ship into the ocean what are the penalties that could be assessed for that dumping of trash?

Injunction, fine of $50,000, imprisonment for up to one year

Which of the intentional torts does Texas NOT recognize?

Interference with prospective economic advantages

The Sherman Act proved to be ineffective due to:

Interpretation by the federal courts

Howard and his girlfriend decide to drive through a crowd in the nude on his motorcycle to attend the "streak in" outside the Academic Building. The motorcycle dies and he has to jump start the motorcycle while she stands next to him trying to describe what to cover up. The student newspaper takes a picture and publishes it in the next edition of the paper and names of Howard and his girlfriend. If Howard and his girlfriend sue, what is the probable tort and result?

Invasion of privacy but they would lose

Which of the following is true about a corporation?

It can last forever

Which of the following is true about a limited liability company?

It can last forever

Which of the following are true about a sole-proprietorship?

It is the oldest form of business entity. It is the simplest form of business entity. There are no formalities to creating it.

The court system can create law by:

Judicial review, judicial interpretation, and common law

Junior enters into a contract to buy a car with Sleezy Sam's Used Cars when he is 16 years old. If he takes the car back to Sleezy Sam's which is true?

Junior has disaffirmed the contract and junior has to pay the restitution that he can pay, if any.

Who was the first president to get the opportunity to enforce Landrum-Griffin?

Kennedy

Which business entity was created in Texas in 1991?

LLP

The Taft-Hartley Act of 1947 is also called the:

Labor-Management Relations Act

Strict liability in torts is:

Liability without fault and normally limited to abnormally dangerous activities

Which of the following is/are taxed like a partnership even thought that entity is not a partnership?

Limited liability company and S corporation

What American company had to run corrective advertisements for several years after claims they had made were found to have been false?

Listerine

If an already existing plant emits mercury what type of air pollution controls must be installed?

MACT

Which of the following is/are exempt from the Anti-Trust Laws that we discussed in class?

MLB-Major League Baseball

Which of the goals of CalPERS, when dealing with institutional investors, became part of Sarbanes-Oxley?

Make the audit committee be totally composed of outside directors

What is the real name of the Ocean Dumping Act?

Marine Protection, Research, and Sanctuaries Act

Mary tries to register the name of her product, "Twin Cities Pretzels", and is turned down by the federal government. Which of the following is true?

Mary can utilize state law for trademark protection

What is the only Texas court that is normally appointed?

Municipal Court

What are the standards for the country set by the EPA in air pollution?

NAAQS

The Magna Charta of American labor is:

National Labor Relations Act

MacPhearson v. Buick Motor Co. established which type of products liability?

Negligence theory

The Election of 1932 ushered in a new era called the:

New Deal

Where does the U.S. Court of Appeals sit that includes Texas Federal Courts?

New Orleans

The labor law that outlawed yellow dog contracts was:

Norris LaGuardia.

The labor law that prohibited management from obtaining injunctions against labor disputes was/were:

Norris LaGuradia and the Anti-Injunction Act

What state(s) have off-duty conduct statutes?

North Dakota, New York and Colorado

If the labor representative calls OSHA and reports safety violations and even goes so far as to point those violations out to the OSHA inspectors when they arrive, what can the employer do to the worker for reporting the OSHA violations?

Nothing

An example of a dependent agency is/are:

OSHA

Who can be liable under 'short swing' profits?

Officers, directors, 10% or greater shareholders, and managers

Who is liable under the Comprehensive Environmental Response, Compensation and Liability Act?

Owner if the land at the time the waste was deposited on the land. Generator of the hazardous waste. Operator of the land at the time the hazardous is discovered. Owner of the land at the time the waste is discovered.

Who elects the board of directors in a corporation?

Owners and Shareholders

Which of the following is/are an example(s) of areas that have been added to the five categories that are protected classes under the Civil Rights Act of 1964?

Pregnancy and Sexual Harassment

If you are dealing with a totally disclosed agency in a contractual transaction where the agent acted within his/her scope of the agency, who, along with the third party, is liable under the subsequent contract?

Principal

What type of regulatory rules do the courts give the closest scrutiny?

Procedural rules and Regulations

The relevant market is the:

Product market and the geographic market

Sarbanes-Oxley created a regulatory agency to establish and enforce ethical and auditing standards for auditors of public companies, this agency is called:

Public Company Accounting Oversight Board.

Which of the following is/are exempt from the Anti-Trust Laws that we discussed in class?

Public transportation, labor unions, insurance and other state regulated industries, and certain agricultural organizations

During Boot Line when Texas A&M is playing Texas University on national TV and the game is covered by ABC. Puck the bad Ag drops his pants and shows his tattoos of "Beat to" on his left cheek and "12 Man Rocks" on his right cheek. He is caught on national TV during the half time activities part of the ABC coverage with his pants down. The following week Puck is expelled from Texas A&M University and IBM calls him and tells him that the job offer they had made is no longer a realistic option. Both were done due to the TV incident. Puck sues ABC for invasion of privacy. What will be the result of Puck's lawsuit?

Puck will lose because what he did was in public

Comparable worth:

is an argument that equal pay should extend to workers that are doing different jobs but jobs that have a comparable worth to the business and just a theory and is not the law in the United States

A mechanic's, contractors or materialman's lien covers which of the following types of situations where you do not pay for the actions?

Repairs on your home such as when a new heating system in installed. Little Johnny cutting the grass. Installation of a swimming pool.

What is/are/the major provision(s) of the Fair Labor Standards Act of 1938?

Restrictions on child labor

What environmental law was the first one in the United States to give the country a permit system?

Rivers and Harbor Act

Which of the following types of businesses entities have/has a limited on the type of owners they can have?

S corporation and Professional corporation

Which of the following federal regulatory agencies was/were created during the Great Depression and the New Deal Era?

SEC and NLRB

When the EPA created the environmental standards for Texas what was Texas required to create?

SIP

When it comes to privacy in the workplace what is an example of what the employer can do?

Search your desk with good cause and if required with a search warrant. Do random drug tests if you agreed to that as a condition of your employment. Monitor your email.

Which is the proper office to file your papers to create a corporation if you want to incorporate in Texas?

Secretary of State

In Texas, if a judge signs an order authorizing substituted service, then service can be obtained by:

Serving the citation to anyone at the defendant's residence over the age of 14 years of age, nailing the citation to the front door of the defendant's residence, and publish the notice in the defendant's home town newspaper.

What event probably led to the Constitutional Convention more than any other historical event?

Shay's Rebellion

The Antitrust Act(s) that was/were broad and punitive rather than specific and preventative is:

Sherman

Which of the Anti-Trust laws was written very broadly to cover many areas of Anti-Trust laws and alsomakes it a felony to attempt to monopolize?

Sherman

What was an example of a product that was removed from the market by the FDA that was later allowed to be put back on the market when it was determined that the FDA was wrong?

Silicon breast implants

What did labor call Taft-Hartley?

Slave Labor Act

Which Texas court(s) was/were created by the Texas Legislature?

Small Claims Court and County Court at Law

Which introductory, lowest level Texas trial court can hear civil law?

Small Claims Court and Justice of the Peace Court

The following are interstate commerce clauses except:

Smith v. Allwright

European unions tend to follow which theory?

Social unionism

What was/were the historical reason(s) for the passage of the Pure Food and Drug Act of 1906?

Spanish American War and Publication of the book, "The Jungle"

When judges use previous cases in deciding a verdict it is called

Stare decisis

What must be disclosed by Regulation Z of TILA?

Starting date of the obligation; cash price of the transaction; and number of payments

What are requests for admission?

Statements that the party to the lawsuit is required to either admit or deny

You get angry at your roommate and decide to kill him/her. What type of law have you violated?

Statutory, State, Criminal, and Public

Which of the following is NOT a type of enforcement by a regulatory agency?

Subpoena, self-reporting, direct observation and performing tests and inspections

Which of the following types of reform agencies do not apply to the federal agencies?

Sunset laws

Which labor law outlawed closed shops?

Taft-Hartley

What are the penalties for violation of the '34 Act?

Ten years in prison and $10,000 fine

What should be included in the prospectus?

Terms of the security and independently audited financial statements

The Student Body President at a major university goes to a party and gets drunk. He then tells all of the attendees at the party that the very popular basketball coach is really a child molester and that he was at a meeting where the President of the University decided to fire the coach. One of the party goers is the editor of the university student newspaper and she makes this the headline story in the next edition of the paper. The basketball coach sues for defamation per se. What must he prove to win?

That the statements were false. That the harm is so bad that he does not have to prove it. That the supposed defamation was actually published.

Which of the following are necessary steps to prove a prima facie case of disparate treatment in a hiring situation?

That you are qualified for the job. That the employer is seeking applications.

Wetlands are enforced by:

The Army Corps of Engineers.

A civil court uses the preponderance of the evidence standard in the required burden of proof. What does a criminal court utilize?

The State or the Prosecution always has to prove the case beyond a reasonable doubt

Judicial Review was created by:

The US Supreme Court and Marbury v Madison

When does the business judgment rule protect the corporate directors or officers and managers?

The action was taken based on an informed decision. There was a rational basis for the decision.

Disclosure must be made under the Truth in Lending Act if:

The amount financed is more than $25,000. there are more than four payments. In certain real estate loans.

Which of the following is true about a rural homestead?

The claimed property can be in more than one parcel. The debtor gets to designate the exempt property.

Under the Fair Credit Reporting Act who is responsible for incorrect information being included in your credit report?

The credit reporting company. The company that incorrectly reported the information. Any company that makes use of the credit report of another improperly.

If a company that is running an advertisement receives a notice from the FTC to change it's advertisement but refuses to do so until just before the trial in the Federal Trade Commission and is required to make redress to the injured consumers, payment of penalties and prohibition of certain practices, what has occurred?

The parties have entered into a consent decree

What facts must be present to give rise to an agency by estoppel?

The principal's actions or inactions must lead a reasonable third party to believe that the agent has the principal's authority

What are the requirements of vertical restraint guidelines?

The seller has to have market power in the tying product. The tied product and the tying product must be separate. There must be substantial adverse effect on the tied product market.

What property can a landlord NOT take under a proper landlord's lien?

The shirt off your back and family pictures

Which of the following statements is/are true about 'short swing' profits?

There are no defenses. Insider information is deemed to be used. The corporation is supposed to sue to recover the profit.

Which of the following is true about a partnership?

There are no formalities to forming it

In Texas, what is the maximum amount of exemption that a consumer can claim for a retirement account?

There is no maximum limit

What is the power that sets aside the regulatory agencies from other branches of government?

They have enforcement power in and of themselves

Assume you are right handed and that you cut off your finger. Under workers compensation law in Texas, what is the most valuable finger on your right hand?

Thumb

Which of the following forms of intellectual property are protected only under state law or common law?

Trade names

The Insider Trading Sanctions Act established:

Treble damages in insider trading and liability for aiders and abettors in insider trading

Which of the following is/are an example of a protected class under the Civil Rights Act of 1964?

Two Latino employees speaking Spanish at work during their break who are fired for doing so because they are Latino. Firing a woman because she is pregnant.

Who regulates the meat industry?

U.S. Department of Agriculture

What counties of the world generally use generally accepted accounting principles (GAAP)?

United Staes, Germany, France and Japan

If a company makes a representation but forgets to tell you the important part of the claims (they omit necessary information intentionally) and this questionable claim is likely to mislead a reasonable consumer, the company would be liable for:

deceptive advertising.

Which labor law specifically legalized unions and gave then several concerted activities like going on strike?

Wagner

Which labor law created the National Labor Relation Board (NLRB)?

Wagner Act

How was the Sherman Antitrust Act used by employers to stop unions?

Was used to get an injunction to stop unions

When does a regulatory agency have to utilize formal rule making procedures?

When creating substantive rules

Assuming you live in a minority jurisdiction, if Mary offers you $100 to walk across a high wire from the Wehner Building to the Horticulture Building, when do you accept the unilateral offer?

When you complete a substantial amount of the trip across the high wire

What was the first state to have LLCs in the United States?

Wyoming

Which of the following is true about the homestead exemption in Texas?

You can only select one type of homestead in Texas

What is a type of justification to price discrimination?

Your are simply meeting the competitions price, product is out of season, volume discount, and cost justification

Which of the following is not considered an act constituting an error under the Electronic Funds Transfer Act

a computational (math) error by the consumer

Jack and Jill enter into a contract. If both perform all of the requirements of the contract satisfactorily, the contract is:

discharged by complete performance.

You get the chance to go to Italy to study abroad but you have a lease. You get one of your friends to take over your lease. If you get the landlord to release you from the lease and substitute your friend for you in the lease, the landlord has:

discharged your contractual obligations and entered into a novation

Negligence requires:

a duty owned to the injured party, harm to the injured party, breach of the duty, and causation

To be voidable, a mistake must be:

a mutual mistake of material fact.

To obtain a writ of execution, you must have reason to believe that the debtor is:

about to leave the state and about to take the property out of state

What is the maximum amount of liability of a Consumer who doesn't notify the bank of a lost ATM card for over sixty (60) days from the date the card is lost?

all of the charges on the account, including all the money the Consumer has in the financial institute

The exception to the rule on secondary boycotts is:

ally doctrine.

The statute that creates most regulatory agencies is called:

an enabling statute.

court order forcing someone to perform the obligation to a contract that the party had previously agreed to do and then refused to do, is called:

an equitable remedy called specific performance.

If you sell your herd of cows at a normal cattle auction and there are several bids on your cattle, you are:

an offeree and involved in a reserve sale

A concurrent opinion is:

an opinion agreeing with the majority opinion result but for different reasons.

A majority opinion is:

an opinion agreeing with the majority opinion result but for different things and establishes precedent

Which of the following are protected by copyright law?

architectural designs and writing a story about a historical event

One of the most common types of deceptive price advertising is:

bait and switch

What type of environmental controls are required by the Safe Drinking Water Act of 1974?

best available

When the employer fired employees for joining unions and then reported them to other potential employers, this was called:

black-listing.

Who/what is responsible for the operation of the corporation? Who would be the agents to the owners of the corporation?

board of directors

American unions tend to follow which theory?

business unionism

The purpose of tort law is:

compensation, justice, deterrence, and social insurance

The most common type of damages in a contract case are:

compensatory.

The Fair Credit Reporting Act allows a consumer's credit report to be used by:

consumers when requested by a written request by the consumer and by court order

What are yellow dog contracts?

contacts where the employee agreed to never join the union and if he/she did they could be fired and lead to the employee being blacklisted

In rem jurisdiction:

is using the subject matter of the lawsuit to obtain jurisdiction in a case

If a judge feels that it is within his/her discretion to interpret a statute they feel is correct (without regard to Congressional intent) the judge is utilizing):

judicial activism

If a judge feels that it is within his/her discretion how to interpret a statute but only according to congressional intent, that judge is utilizing:

judicial passivism

What product did I use as an example in class of being recalled by the CPSC?

lawn darts

Derivative Actions are:

lawsuits filed by shareholders against someone or something that has hurt the corporation financially

Mary thinks that Sterling is the best looking guy in school. Mary asks Sterling out and he rejects her. She finds out that Sterling is gay and dances at a gay bar. Mary tells the whole class at the next class meeting. Sterling sues Mary for defamation and invasion of privacy. Sterling will:

lose the defamation case if in fact he is gay and lose the invasion of privacy case since he dances in public at a gay bar and who cares if he is gay.

An illusory contract is:

no real commitment to a contract.

An example of a situation where the law has determined that there is no legal offer is:

normal advertisements.

A contract where Tom and Jerry entered into a contract and Tom has fully performed all of the obligations of the contract but Jerry has not completed the requirements of the contract, is called a/an:

partially executed contract.

Mandatory topics of good faith bargaining include all the following except:

pension, seniority, subcontracting and closing plants

The Equal Credit Opportunity Act applies to:

race, color, religion, sex and national origin, type of income received including welfare, marital status in Texas, and age

"Short Swing" Profits are set by:

rule 16b of the '34 Act.

The Equal Pay Act deals with what class(es) of workers?

sex

What is the time period on 'short swing' profits?

six months

Who enforces the NAAQS?

state governments

Mike promises in writing to pay the debt owed by Mary in the event that Mary does not pay the debt. If the creditor, Tom, correctly goes after Mike without suing Mary, Mike is a:

surety

Which Securities Law regulates the re-sale of securities previously issued on secondary markets like the NYSE?

the '34 Act

The Supreme Court case of Youngstown Sheet & Tube Co. v. Sawyer demonstrated:

the Supreme Court's check on the power of the executive branch.

During the construction of a building some of the workers/employees are violating safety rules. There are also visitors to the job site that are not following the safety rules. OSHA does an inspection and finds that both the visitors and the employees are violating OSHA standards. Who is penalized by OSHA?

the employer

The primary concern in anti-trust law is:

the good of the consumer.

Procedural due process applies when:

the government deprives an individual of life, liberty or property

What is the most distinguishing factor of a limited partnership?

the limited partner must be a silent partner when it comes to business decisions

Horizontal exchange of information is subject to a high burden rule. Therefore, one should not exchange information if:

they discuss price and they hide the fact that they are sharing the information

Which of the following is true about limited liability companies?

they give all of their owners limited liability. They are much easier to operate than the corporate form. They have flexibility in taxation. They have flexibility in management.

In Two Pesos, Inc. v. Taco Cabana, Inc. the Supreme Court held that a Mexican-style restaurant could not copy the decor of a competitor because of the law protecting:

trade dress.

The Lanham Act covers:

trademarks.

Defenses to assault and battery include all of the following except:

truth

How many different classes of partners must a limited partnership have to be legal?

two

If a supplier mergers with a retailer this would be a:

vertical merger.

If Mary is legally insane but has not been so determined by the courts until after she enters the contract, the contract as to Mary is:

voidable

The Consumer Leasing Act applies to:

when total payments do not exceed $25,000.