Business Law 2301 Review One

To recover damages for an intentional tort, the plaintiff is required to prove that there was a breach of duty by the tortfeasor to the plaintiff.

False

Which of the following best describes "recognizance"?

It refers to the obligations that people enter into before a court to do an act required by law

An employee who picks up inventory tools from his office with the intent to deprive the owners of the property is an example of larceny.

True

The legal term for one party benefiting unfairly at the expense of another is unjust enrichment.

True

An executory contract is defined as:

a contract in which the terms have not been fully carried out by all parties

The doctrine of stare decisis states that:

a decision taken by a court determines the fate of similar cases in other courts in the future

The tort of injurious falsehood occurs when:

a person makes false statements of fact that degrade the quality of another's goods or services

Which of the following is not a true contract and has been imposed by law in order to prevent on party benefiting unfairly at another's expense.

a quasi-contract

Most contracts are _______.

bilateral

The ____ consists of ten amendments to the U.S. Constitution specifically designed to protect the civil rights and liberties of citizens and the states.

bill of rights

The failure of a party to perform the obligations assumed under a contract is known as a(n):

breach of contract

Class of laws concerned primarily with business transactions

business law

Which of the following statements is true of civil law?

civil law deals with the enforcement or protection of private rights

Legally enforceable agreement

contract

Laws which deal with offenses against society.

criminal law

The individual against whom a case is filed is called the:

defendant

Having to pay back profits received illegally

disgorgement of profits

On investigation, it was found that Ken, the bookkeeper at CL corp., had stolen money from the company's account and recorded financial transactions inaccurately to cover up for his activities. For which of the following business crimes can Ken be prosecuted?

embezzlement

A justice system based upon fairness is called

equity

Principle that determines the morality of conduct

ethics

Joan sells and delivers a dress to Dress Shop for $200. Dress Shop pays the price at the time of the sale. This is an _____ contract.

executed

Fully performed

executed contract

All agreements are contracts.

false

All states of the U.S. have separate equity courts and common law courts.

false

An agreement between two parties to perform an illegal act is a quasi-contract.

false

Appellate courts conduct the original trial of cases.

false

Each state has three distinct court systems.

false

Felonies refer to crimes that are usually punishable by just a fine.

false

If a decision of an administrative agency conflicts with a statute enacted by a higher legislative body, the agency decision will prevail.

false

In the federal courts, the chief officer is called a:

magistrate

Ill will, spite or hostility

malice

Contract with terms spoken

oral contract

Software copied illegally

pirated software

The injured party in a civil suit.

plaintiff

____ laws are those that state how parties are to go forward with filing civil actions and how these actions are to be tried.

procedural

Court's temporary order forbidding an action.

restraining order

Which of the following statements is true of federal district courts?

they hear all criminal cases that involved a violation of federal law

A private wrong for which damages may be recovered.

tort

A certificate of deposit is a negotiable instrument.

true

Informal contracts are also known as ____ contracts

simple

Which of the following statements is true of common law?

Cases in common law are decided on the basis of precedents

Which of the following is true of the Uniform Commercial Code?

Individual states have made changes to the UCC

Persons educated in the law are called:

lawyers

Which of the following statements is most likely to be true of administrative agencies?

administrative agencies have the power to implement laws

A permanent order that is issued by a court with equity powers forbidding activities that would be detrimental to others is known as:

an injunction

Interference with a contract or economic advantage is a form of

an intentional tort

Admits or denies the facts alleged in the complaint.

answer

The heads of federal administrative agencies are

appointed

Which of the following is most likely to be a tort based on negligence?

automobile accidents

The legal system of the U.S. is based primarily on the French legal system.

false

The most common type of relief that courts of equity provide is monetary damages

false

The tort of product liability is also known as trade libel.

false

The written request that begins a civil suit is called a summons.

false

To establish the offense of criminal copyright infringement, a prosecutor needs to prove that the infringement was done for non-financial gain.

false

Kenneth was sentenced to six years in prison for forgery. In this case Kenneth has committed a(n):

felony

Which of the following is true of the U.S. Supreme Court?

it has appellate jurisdiction in cases based on the U.S. Constitution

Which of the following is true of the Racketeer Influenced and Corrupt Organizations Act?

it prevents the infiltration of legitimate businesses by organized crime

Which of the following is true of quasi-contracts?

it prevents the unjust enrichment of a party

The authority of a court to hear a case is called:

jurisdiction

_______ courts are concerned with delinquent children.

juvenile

Government rule prescribing conduct and carrying a penalty.

law

Manufacturers of products are liable without proof of negligence for dangerous products, this is called:

strict liability

To recover for a tort based on negligence, the plaintiff must show:

the breach of the tortfeasor's duty to the injured party

An enforceable contract is made by an adult with a minor. Which of the following is most likely to hold true in this case?

the contract is enforceable against the adult but not against the minor

Which of the following is true of appeals made to higher courts?

the decision of the appellate court is binding on lower courts

In a situation where an injured party in an accident is partly to blame for the accident, which of the following is most likely to be true under a contributory negligence system?

the injured party cannot recover any damages because it is partially negligent in the case

Which of the following is true of a jury trial procedure?

the jury is selected before an opening statement is made by the attorney

Debarment refers to:

the prohibition on doing business with the government

Which of the following is true of statutes?

they are less general than constitutions

Which of the following is true of unenforceable contracts?

they can be made enforceable by making a few changes to them

Which of the following is true of trial courts?

they conduct the original trial of a case

Which of the following is true of special federal courts?

they have jurisdiction limited by Congress

The location where a case is tried is called:

venue

No legal effect

void

May be set aside by one party

voidable

If granted, the U.S. Supreme Court will hear the appeal of a case is called:

writ of certiorari

Contract with terms in writing

written contract

Contract consisting of mutual exchange of promises

bilateral contract

Only one party needs to give an agreement in order for a contract to be enforceable.

false

Payments made to speed up the performance of routine governmental actions are treated as bribes by the FCPA.

false

Probate courts handle divorce and child custody cases.

false

Set of software instructions that produce abnormal computer behavior

rogue program

A chief officer is known as the judge in a state court of records as well as in a federal court.

true

Any state supreme court of the U. S. can reverse a decision of a lower court.

true

Appellate courts include courts of appeals and supreme courts.

true

For an act to be established as a tort of injurious falsehood, the false statements of fact must be communicated by the defendant to a third person.

true

In some small claims court, there is no jury and a judge tries the case.

true

In the legal system of the U.S. it is possible for the same law to have different consequences in different states.

true

RICO included civil sanctions as well as criminal ones.

true

RICO provides for the recovery of three times the damages suffered by an injured party as a result of its violation.

true

Some codes of professional responsibility are legally enforceable.

true

Statutes are easier to amend than constitutions.

true

The UCC makes no distinction between contracts under seal and other written contracts for the sale of goods.

true

The chief function of the court is to interpret and apply laws from any source to a given situation.

true

The court in which an official record of the proceeding is kept is called a court of record.

true

The law states that a unilateral contract calls for an act in consideration of a promise.

true

The offering of money, entertainment, or anything of value constitutes a bribe.

true

Using a business computer to play games constitutes computer trespass.

true

When a state law and a municipal legislation conflict with each other, the state law will prevail.

true