Business Law Questions

Courts of equity will not grant specific performance of contracts: For a personal service contract. For the sale of real estate. For the sale of the original manuscript of a rare edition book. All of these are correct.

"For a personal service contract.", because that would be slavery, which is unconstitutional by the us constitution.

Arbitration Disadvantages

1. Limited resources for challenging an award 2. Can be more expensive than trial 3. There is no jury which can be a drawback for a plaintiff 4. Companies or employers may be able to "hide" chronic discriminatory practices by forcing consumers or employees to agree to binding arbitration clauses.

What is the Process for Meditation?

1. Mostly all court cases are ordered to mediation before they can go to trial. 2. Parties meet with their attorneys and the mediator. Usually, opening statements are given by the attorney and the parties go into separate rooms with their attorneys, with an attorney acting as in the middle man. 3. Since there is no obligation to settle, if no agreement is reached, the mediator will call an "impasse" and advise the court that the parties could not settle. Court proceedings will then continue. 4. If the parties don't reach an agreement, they will enter a Mediated Settlement Agreement. This is a binding contract, and will be submitted to the court indicating the lawsuit is over. If either parties violates the agreement or fails to comply with terms, the other party can file a Motion to Enforce and the court can order compliance.

6 Mediation Advantages

1. Simple and Quick 2. Each party has control over the process and outcome. 3. No obligation to agree 4. Proceedings are confidential 5. Settlements are reached as a result of give and take; unlike a court case where winner takes all 6. Allows for flexible solutions

3 Mediation Disadvantages

1. The lesser party might feel pressured by the strong party into an unfavorable settlement 2. Parties may attend mediation for the sole purpose of finding out the other parties strategies/arguments. 3. No legal precedent will be set through mediation. Therefore if a party is always doing wrong, those wrongdoings won't be recognized outside of mediation.

A process in which a third party selected by the disputants helps the parties to voluntarily resolve their disagreement is known as: Mediation. Discovery. Arbitration. Settlement.

A

Consideration may include any of the following except: A promise. A gift. Property. Money.

A gift.

Mediation focuses on: Solutions. Testimony. Expert witnesses. Discoveries.

A

Define a material breach.

A material breach is when something substantially different from what was expected under the terms of the contract is delivered, the breach is considered material.

Binding Arbitration Clauses

A binding contract provision requiring that all disputes arising under the contract must be settled under arbitration.

What is the definition of a contract?

A contract is an agreement between two or more parties that is enforceable by law.

Define business ethics.

Acceptable levels of behavior for each individual who makes up the organization.

Regulations are a type of law that are created and adopted by: Local legislatures Administrative agencies Congress Judges

Administrative agencies

The benefits of Corporate Responsibility for a business include: Talent attraction. Consumer influence. Improved perception by investors. All of the above.

All of the above

A minor can avoid a contract to purchase a car if: The car has been destroyed. The car has been damaged. He or she grows tired of it. All of the above.

All of the above.

An example of an intentional tort is: Defamation. Assault. Malicious prosecution. All of the above.

All of the above.

Typical remedies available for a breach of contract include: Money damages. Rescission. Specific Performance. All of the above.

All of the above.

What are the ways an agreement can be invalidated? Fraud. Misrepresentation. Undue influence. All of the above.

All of the above.

ethical rules can be based on deep values of an organization which may include: Quality of products and services. Commitment to customers. How the organization gives back to the community. All of the above.

All of the above.

When an individual creates and promotes malicious falsehoods about another that individual may be liable for: Libel. Slander. Defamation. All of the above.

All of the above. The term for creating and promoting malicious falsehoods about another is "defamation." Defamation can occur in two forms: Slander: This is when false statements are spoken or oral communication that harms a person's reputation. Libel: This occurs when false statements are expressed in written or recorded form, such as through print, online media, or any other recorded medium.

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

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

Arbitration

An out of court hearing in which parties submit their dispute to a neutral third party who will impose a binding decision on the parties.

The NJ State Legislature enacted a new law recently that allows for the use of recreational marijuana. This law will apply to the following groups: Everyone in the United States Anyone who owns property in NJ No one because this law is unconstitutional. Anyone in the United States who buys the marijuana in NJ

Anyone in the United States who buys the marijuana in NJ

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. Litigation. Mediation. Summary Jury Trial.

Arbitration.

A person trained in conflict resolution is considered: An arbitrator. A mediator. A negotiator. A judge.

B

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

C

The following are the type of awards that may be issued by an arbitrator: Bare Bones. Reasoned. Both a and b. Neither a nor b.

C

What's the first step in Alternative Dispute Resolution? Conciliation. Mediation. Negotiation. Arbitration.

C

Nico is a landlord and Kyle is his tenant. Nico intends to bring a lawsuit against Kyle for failure to pay rent one his condo. What type of law will be applied in this case? Constitutional law Administrative regulations Civil law Criminal law

Civil law

The _____ gives the federal government the authority to regulate interstate and international commerce. Supremacy Clause. 10th Amendment. Bill of Rights. Commerce Clause.

Commerce Clause

The main sources of law in the U.S. legal system are: Federal law, state law, international law, and maritime law. Statutory law, case law, and common law. Constitutional law, criminal law, civil law, and family law. Constitutional law, judicial law, legislative law, and administrative law.

Constitutional law, judicial law, legislative law, and administrative law.

Describe the concept of Promissory Estoppel.

Contracts generally require consideration, but promissory estoppel can be an exception when one party acts on the other's promise, leading to harm or injustice.

Examples of illegal contracts include all but the following: Contracts for the sale or distribution of heroin. Contracts for loansharking. Contracts in consideration of marriage. Employment contracts for the hiring of undocumented workers.

Contracts in consideration of marriage.

Describe the differences between contributory and comparative negligence.

Contributory negligence is a legal doctrine that prevents a plaintiff from recovering any damages if they are found to have contributed even slightly to their own injury. Comparative negligence, on the other hand, allows the plaintiff to recover damages proportionate to the defendant's degree of fault, even if the plaintiff was partially responsible for the injury. In comparative negligence states, the plaintiff's recovery is reduced by their percentage of fault.

What's the definition of Corporate Responsibility?

Corporate governance. Corporate responsibility (CR) is about the impact an organisation makes on society, the environment and the economy. Having an effective CR programme contributes positively to all stakeholders as well as adding value for the organisation itself, and ensures it operates in a sustainable way.

Common law and precedent are terms that apply only to: We don't use those terms in the modern judicial system. Decision made by Congress. Decisions made by judges in individual cases. All types of laws created by legislatures

Decisions made by judges in individual cases.

The _____ of the constitution offers the most extensive protection for businesses. Supremacy Clause. Equal Protection Clause. Due Process Clause. Freedom of Speech Clause.

Due Process Clause

Describe the 2 types of Due Process.

Due process of law involves two types of processes: (a) procedural due process - Is the process fair? and (b) substantive due process - Does the government have the right to bring the action in the first place? In performing the LHO duties and responsibilities, you must be concerned with whether the process is fair.

What's the main benefit of e-mediation?

E-mediation can be useful in situations where the parties are geographically far apart, or the transaction in dispute took place online. Ebay uses e-mediation to handle the sheer volume of misunderstandings between parties. Research has shown that one of the benefits of e-mediation is that it allows people the time needed to "cool down" when they have to explain their feelings in an email, as opposed to speaking to others in person. In addition to technological advancements, new findings in psychology are influencing how disputes are resolved, such as the rising interest in canine-assisted mediation (CAM), in which the presence of dogs is posited to have an impact on human emotional health. Since the presence of dogs has a positive impact on many of the neurophysiological stress markers in humans, researchers are beginning to explore the use of therapy animals to assist in dispute resolution.

What is equal protection clause?

Equal Protection refers to the idea that a governmental body may not deny people equal protection of its governing laws. The governing body state must treat an individual in the same manner as others in similar conditions and circumstances.

What is a remedy? What is an equitable remedy? A remedy is the means given to a party to enforce a right or as compensation for the violation of a right. If I (the plaintiff) file a lawsuit and win, the compensation I receive from the other party (defendant) is my remedy.

Equitable remedies go beyond regular remedies in that they are not just money, but also actions. The plaintiff may be wanting the defendant to perform or refrain from a certain act. Equitable remedies are often used when monetary compensation alone is not an adequate solution.

All agreements are contracts and all contracts are legally enforceable. True False

False

All of the sections of the Bill of Rights apply to corporations and commercial activities. True. False.

False

An agreement that isn't supported by consideration will never be enforced even if the result is unfair. True False

False

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. True. False.

False

The 14th Amendment is a part of the Bill of Rights. True. False.

False, its part of the constituion

The doctrine aimed at dividing the governing powers between the federal governments and the states is: Judicial review. Federalism. Separation of powers. Preemption.

Federalism.

Explain each bill of right

First Amendment: freedom of religion, freedom of speech, freedom of the press, and freedom of assembly Second Amendment: the right of the people to keep and bear arms Third Amendment: restricts housing soldiers in private homes Fourth Amendment: protects against unreasonable search and seizure Fifth Amendment: protects against self-testimony, being tried twice for the same crime, and the seizure of property under eminent domain Sixth Amendment: the rights to a speedy trial, trial by jury, and to the services of a lawyer Seventh Amendment: guarantees trial by jury in cases involving a certain dollar amount Eighth Amendment: prohibits excessive bail or fines and cruel and unusual punishment for crimes Ninth Amendment: listing of rights (in the Bill of Rights) does not mean that other rights are not in effect Tenth Amendment: power not granted to the Federal Government is reserved for states or individual people

Which of the following is most likely to be classified as a necessity for which a minor will be held liable on a contract? A television. School supplies. Education. Food.

Food

When can a mentally incompetent person void a contract?

If a person lacks the mental capacity to enter a contract, then either he or she, or his or her legal guardian, may void it, except in cases where the contract involved necessities. In most states, mental capacity is measured against the "cognitive standard" of whether the party understood its meaning and effect.

Explain the differences between binding and non-binding arbitration.

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 finalized if both parties agree that it is an acceptable solution.

Mediation

Informal meeting between two parties in which they agree to settle their disputes.

The two types of ADR

Mediation and Arbitration

Name the steps in Mediation.

Mediator's Opening statement Opening Statement of Plaintiff and Defendant Joint Discussion Private Causcaus Joint Negotiation Closure

What can't a mediator do? TWO PART QUESTION

Mediators are facilitators, they cannot force the parties to settle, nor do they decide who is right or wrong. They create positive solutions for settlement that the parties might not otherwise have thought of on their own.

Describe Negligence.

Negligence is a legal concept that refers to a type of conduct or behavior that falls below the standard of care expected of a reasonable person in similar circumstances. It is a fundamental principle in tort law and is often the basis for civil lawsuits.

Describe the typical steps in Arbitration.

Not all arbitration agreements have the same procedures. It depends on the types of agreements made in advance by the disputing parties. First, the number of arbitrators is decided, along with how they will be chosen. Next, a timeline is established, and evidence is presented by both parties. Finally, the arbitrator will make a decision and usually makes one or more awards.

There is more than one answer. Mutual assent may be lacking in contracts that are formed in certain situations. Lack of mutual assent can be found when:

One party has significant power over the other party. A party to the contract has been given facts that are not true.

What is jurisdiction? What is jurisdiction over persons called? What is jurisdiction over property called? How can a court exercise jurisdiction over a person or property? Jurisdiction means the authority of a court to hear and decide on a specific case. Courts must have jurisdiction over a person and the subject matter of the dispute in order to hear a case. For example: The supreme court of California does not have jurisdiction over this case because both the plaintiff and the defendant are New Yorkers, and the dispute took place in NYC.

Personal Jurisdiction = Jurisdiction over a person. Rem Jurisdiction = Jurisdiction over a property. A court can exercise personal orrem jurisdictionif the defendant hasminimum contactswith the state; enough of a connection so that it is justifiable for the court to hear that case. Courts can also exercise jurisdiction over out-of-state defendants if the subject matter is involved with the state. When courts exercise personal jurisdiction over out-of-state defendants this is calledlong arm statutes.

Alternative Dispute Resolution

Processes for resolving legal disputes rather than having full blown trials

The elements of a contract include all but the following element: Offer and acceptance. Consideration. Capacity. Promissory Estoppel.

Promissory Estoppel.

Distinguish between rescission and reformation.

Rescission terminates the duties of both parties under the contract, while reformation allows courts to equitably change the contracts substance.

Define restitution.

Restitution restores the injured party to status quo or the position they had prior to the formation of the contract, by returning to the plaintiff any money or property given to the defendant pursuant to the contract.

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. However, corporate social responsibility is a sustainable effort that can be measured.

Mediator

Someone hired by both parties to help facilitate the negotiations.

Which clause of the U.S. Constitution provides that, within its own sphere, federal law is supreme and that state law must, in case of conflict, yield? Commerce Clause. Superior Clause. Supremacy Clause. Necessary and Proper Clause.

Supremacy Clause

What happens when a person lacks the legal capacity to enter into a contract?

The Contract can or will be voided.

Explain the Thomas-Kilmann Conflict Mode Instrument.

The Thomas-Kilmann Conflict Mode Instrument (TKI) is a questionnaire that provides a systematic framework for categorizing five broad negotiation styles. It is closely associated with work done by conflict resolution experts Dean Pruitt and Jeffrey Rubin. These styles are often considered in terms of the level of self-interest, instead of how other negotiators feel. These five general negotiation styles include: Forcing. Collaborating. Compromising.

What is an attractive nuisance?

The attractive nuicance doctrine applies to the law of torts in some jurisdictions. It states that a landowner may be held liable for injuries to children trespassing on the land if the injury is caused by an object on the land that is likely to attract children Common examples of attractive nuisances include swimming pools, abandoned vehicles, construction sites, and other potentially enticing features that might attract children but pose inherent risks. Property owners may be held liable for injuries sustained by children who are drawn to these attractive nuisances.

1. Explain Police Power and the Dormant Commerce Clause.

The authority of the federal government to regulate interstate commerce has, at times, come into conflict with state authority over the same area of regulation. The courts have tried to resolve these conflicts with reference to the police power of the states. Police power refers to the residual powers granted to each state to safeguard the welfare of their inhabitants. Examples of areas in which states tend to exercise their police power are zoning regulations, building codes, and sanitation standards for eating places. However, there are times when the states' use of police power impacts interstate commerce. If the exercise of the power interferes with, or discriminates against, interstate commerce, then the action is generally deemed to be unconstitutional. The limitation on the authority of states to regulate in areas that impact interstate commerce is known as the dormant commerce clause. In using the dormant commerce clause to resolve conflicts between state and federal authority, the courts consider the extent to which the state law has a legitimate purpose. If it is determined that the state law has a legitimate purpose, then the court tries to determine whether the impact on interstate commerce is in the interest of the citizens of the state, and will rule accordingly. For instance, an ordinance that banned spray paint, issued in the city of Chicago, was challenged by paint manufacturers under the dormant commerce clause, but was ultimately upheld by the U.S. Court of Appeals because the ban was intended to reduce graffiti and related crimes.

There is more than one answer. A purchaser who is 17 years old buys a car and then damages the car. He can return the car for full value because? The car is not a necessity. He is a minor. The purchaser is under duress. A car is a necessity

The car is not a necessity. He is a minor.

All of the following are elements of negligence except: A reasonable person. A duty by the defendant to either act or refrain from acting. A breach of a duty owed by defendant. Measurable harm.

The correct answer is: A reasonable person. In negligence cases, a reasonable person is not considered one of the elements of negligence. The elements typically include: Duty of Care: The defendant must owe a legal duty of care to the plaintiff. Breach of Duty: The defendant must breach the duty of care by failing to meet the standard expected of a reasonable person. Causation: There must be a direct causal link between the defendant's breach of duty and the harm suffered by the plaintiff. Proximate Cause: The harm caused must be a reasonably foreseeable result of the defendant's actions. Damages: The plaintiff must have suffered actual harm or damages.

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: Proximate cause. Abnormally dangerous. Negligence. None of these are correct.

The correct answer is: Abnormally dangerous. In tort law, an activity may be deemed abnormally dangerous if it causes a foreseeable and highly significant risk of physical harm, even when reasonable care is exercised by all actors involved. Additionally, if the activity is not one of common usage, it may contribute to the classification of the activity as abnormally dangerous. This concept is often associated with strict liability, where individuals engaging in such activities may be held liable for resulting harm, irrespective of their level of care.

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. Cousin to cousin. School principal and student. Hotel and guest, and school principal and student.

The correct answer is: Hotel and guest, and school principal and student.

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

The correct statement is: "The defendant breached his or her duty of care." In a product liability lawsuit involving res ipsa loquitur, the plaintiff does not need to establish that the defendant breached a duty of care. Instead, the plaintiff must establish the following elements: The defendant had control over the product in question while it was being manufactured. Under normal circumstances, the product would not cause damage or harm, but damage or harm has occurred in the case in question. The behavior of the plaintiff did not significantly contribute to the harm caused. The doctrine of res ipsa loquitur shifts the burden of proof to the defendant, requiring them to demonstrate that they were not negligent in the manufacturing or handling of the product.

Where did the term Corporate Responsibility originate?

The earliest published book about the topic is Corporate Responsibility of the Businessman, published in 1953. This book introduced the concept of companies giving back as a form of investment in the future. This idea came from a generation that had survived some of the hardest times in our world and wanted to make it a better place for generations to come.

What's the definition of negotiation?

The process by which parties with nonidentical preferences allocate resources through interpersonal activity and joint decision making. the process of discussing something with someone in order to reach an agreement with them, or the discussions themselves:

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

Torts

Define Torts:

Torts are civil wrongs that cause harm or loss to an individual or their property. These wrongs can result from intentional actions, negligence, or strict liability. Torts are a part of civil law, and the injured party (plaintiff) may seek compensation or redress for the harm suffered from the party responsible for the wrong (defendant). Torts encompass a wide range of actions, including intentional acts like assault, negligence (failure to exercise reasonable care), and strict liability (liability without fault, often applied to certain inherently dangerous activities or defective products).

Consideration that will make a promise binding can be a variety of the things or situations.

Valid: Giving up your claim to money you are entitled to Not going to an event you are invited to An exchange of a good or service that isn't worth the same as the other good or service being exchanged. Invalid: Agreeing to work the shift you have been assigned Offering to exchange a sum of money to be determined later. Reminding the other party that you drove them to work last week.

A contract that has no legal value at any time is called:

Void

What are the 2 types of Arbitration?

Voluntary: parties agree to submit their dispute to arbitration rather than litigating in the court system. Required: Arises after the parties have signed a contract containing a Binding Arbitration Clause. If you sign a contract with such a provision, you are agreeing that your sole legal remedy will be arbitration.

Binding authority is any written/official source of law that a court must follow when deciding a case. This includes constitutions, statutes, and regulations that are relevant to the case. *Supreme court decisions remain controlling until they are overturned by the supreme court, a constitutional amendment or by congressional legislation.

What is persuasive authority and when can it be used? Persuasive authority is any legal authority that a court may look to for guidance, however it is not binding. Persuasive authority is generally used when deciding cases of first impression.

What are the 4 sources of American law? ●The US Constitution and the constitutions of the various states ●Statutory Law - Including laws passed by congress, state legislatures, and local governing bodies ●Regulations created by administrative agencies, such as the FDA ●Case law (court decisions)

What is stare decisis and the concepts of precedent and binding authority? Under Stare Decisis, judges are obligated to follow precedents established in the past within their jurisdiction. Decisions made by higher courts are binding on lower courts.

What is subject matter jurisdiction? Subject matter Jurisdiction is a limitation on what types of cases a court can hear. An example of a court with limited subject matter jurisdiction is a bankruptcy court, which can only hear cases relating to bankruptcy. State courts or federal district courts on the other hand, do not have such limitations.

What is the difference between original and appellate jurisdiction? Original jurisdiction is the right of a court to hear a case for a first time, these are known as courts of first instance or trial courts. Courts exercising appellate jurisdiction are reviewing courts, or appellate courts. Cases can be brought to an appellate court through an appeal from a trial or lower court, in order to resolve appeals and review a case.

What are the 3 classifications of law? Criminal Law, Civil Law, Administrative Law

What is the power of judicial review? Judicial Review is the process by which judges decide whether or not the actions of the other two branches (legislative and executive) are constitutional.

How does the process of negotiation work?

Whenever the parties try to settle their dispute without the use of the court.

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

a

What is the Seperation of Powers

an act of vesting the legislative, executive, and judicial powers of government in separate bodies.

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

b

The three dimensions of the triple bottom line include all of the following except: Profits. People. Planet. Promotion.

d

The offender ultimately becomes the _______________, who must respond to the accusations of the plaintiff in a civil suit.

defendant

______________ = a duty to protect another,

duty to aid

whether or not a defendant could have predicted that an action or inaction could have resulted in the tort, or __________________

forseeability

Who decides the business ethics for a company? The HR department. The employees. Leadership. Consultants.

leadership

For an action to be deemed negligent, there must be a _____________, or responsibility to act,

legal duty of care

The ______________, who is the injured party, files the lawsuit on which the civil court will make a decision.

plaintiff

_________________ means that the result was fairly obvious before it occurred

reasonably foreseeable

In some cases, the duty of care is based on a _______________, which is a relationship based on an implied duty of care.

special relationship

How many amendments are in the bill of rights?

ten amendments