Business Law Review
According to The Harvard Law Review, below what percentage of market share do courts rarely find monopoly power?
50%
Which of the following types of employment discrimination is not covered by Title VII of the Federal Civil Rights Act?
All of these are covered by Title VII.
An analysis of whether a defendant's act or failure to act is sufficiently connected to the plaintiff's injury falls under which negligence element?
Causation
The power to legislate is given by the Constitution to which of the following?
Congress
Which of the following is not an objective of the law?
Ensure commercial profitability
National defense, insect eradication and street lighting are examples of:
Public goods
A company builds a garden at the side of its building to enhance the appearance of its neighborhood. This is an example of a
positive externality
What is the cap range for compensatory and punitive damages an employer might have to pay under Title VII of the Civil Rights Act?
$50,000 to $300,000
The Family and Medical Leave Act provides eligible employees __________ weeks of unpaid leave in any 12-month period for family needs such as the birth or adoption of a child
12
The piece of federal legislation that prohibits private individuals and organizations from intercepting wire, oral, or electronic communications is the:
1986 Electronic Communications Privacy Act
The Age Discrimination in Employment Act (ADEA) protects workers over the age of __________ and over.
40
Which of the following best describes an injunction?
A court order that may either require or forbid a party to perform a specified act.
Which of the following types of contracts ordinarily involves a situation in which one party makes a promise and the other party acts in response to that promise?
A unilateral contract
The federal legislation that forbids discrimination in employment public accommodations, public services, transportation, and telecommunications for the disabled is the
Americans with Disabilities Act
An agreement in which a buyer commits itself to deal only with a specific seller, thereby cutting competing sellers out of that share of the market is known as a(n):
An exclusive dealing contract
Which Article in the Constitution creates the legislative branch of government?
Article I
Owners, or the members of an LLC, file which of the following with the state to legally create the LLC?
Articles organization
Which of the following pieces of legislation forbids discrimination in education, housing, public accommodations, and employment?
Civil Rights Act of 1964
Assumption of the risk is a defense based on the idea of:
Consent
The sources of law which prescribe the structure of our governments and protection for our individual rights are:
Constitutions
Which of the following areas of law gives us a reliable mechanism for freely expressing our preferences for life?
Contract law
The right of one partner who pays partnership debt to recoup an appropriate share of that debt from the other partners is referred to as the right of:
Contribution
Federal agencies that control entry into certain economic activities fall under which category of the federal regulatory agency duties?
Control of supply
In general, which of the following third parties can enforce a contract?
Creditor beneficiaries and done beneficiaries.
Which of the following is not an available remedy under the Clayton Act?
Criminal sanctions
A term in a lending contract that makes the debt essentially immediately payable should the condition specified cease to be satisfied is a(n):
Debt covenant
What type of plan will specify in advance the "match" the employer will provide to go with the employee's own contributions?
Defined contribution plan
Which of the following is the dominant test for determining whether a worker is an independent contractor or an employee?
Degree of control
The doctrine under which a person cannot be prosecuted twice in the same tribunal for the same criminal offense is:
Double jeopardy
The __________ is the federal administrative agency that has the authority to issue regulations and guidelines as well as to receive, initiate, and investigate charges of discrimination against employers covered by federal antidiscrimination statutes such as Title VII.
EEOC The EEOC is the federal administrative agency that has the authority to issue regulations and guidelines as well as to receive, initiate, and investigate charges of discrimination against employers covered by federal antidiscrimination statutes such as Title VII.
Which of the following forbids discrimination on the basis of sex by paying wages to employees of one sex at a rate less than the rate paid to employees of the opposite sex for equal work on jobs requiring equal skill, effort, and responsibility and performed under similar working conditions?
Equal Pay Act
The Constitutional provision that forbids a government from treating one person differently from another person without a rational basis for doing so is the:
Equal Protection Clause
Which of the following appoints the top administrators for the various agencies?
Executive branch
Which federal agency was designed to prevent anticompetitive trade practices?
FTC
Under the Hart-Scott-Rodino Antitrust Improvements Act mergers and acquisitions must be reported to which of the following if those deals exceed certain dollar thresholds?
FTC and the Justice Department
The doctrine that permits a merger to preserve the assets of a firm that would otherwise be lost to the market is the:
Failing company doctrine
Which of the following is true of federal question jurisdiction?
Federal and state courts have concurrent jurisdiction for some federal questions.
A crime punishable by a year or more of incarceration is a:
Felony
In the United States, bribing a foreign official to violate local law in order to obtain or maintain business or to secure an improper advantage is illegal under which federal legislation? The Foreign Corrupt Practices Act make it illegal to bribe a foreign official to violate local law in order to obtain or maintain business or to secure an improper advantage
Foreign Corrupt Practices Act
Jonathan, a motel owner, was suspected of being associated with an illegal narcotics operation. The police put a GPS tracking unit on Jonathan's car and followed his movements for more than a month. He was arrested in 2010, and in a trial in 2012, the jury found him guilty of intent to distribute methamphetamine for which he was sentenced to life in prison. On appeal, Jonathan argued that his conviction should be overturned because the warrantless use of GPS tracking unit violated the
Fourth Amendment
Which of the following is not a recognized defense to an intentional tort claim?
Fraud
Judicial authority over a person is referred to as:
In personam jurisdiction
Which of the following is not a concern brought about by economic concentration?
Increased competition
A new security offered by a corporation of the same state as all of the persons it is offered to is what type of offering?
Intrastate
Which of the following statements is true of the Magnuson-Moss Warranty Act?
It applies only to consumer products.
In the context of legally enforceable contracts, which of the following best describes consideration?
It is the bargained-for legal value that one party agrees to pay to secure the promise of another.
Which of the following is true of the Pregnancy Discrimination Act?
It prohibits an employer from forcing a pregnant employee to take time off or to quit due to pregnancy.
Which of the following best describes assault?
It refers to intentionally causing another to reasonably believe that he or she is about to be the victim of a battery.
Which of the following is not true of workers' compensation law?
Less than 20% of the workforce is covered by workers' compensation laws.
Which of the following is described as tangible defamation?
Libel
The concept of __________ implies that when a corporation has liabilities that exceed its assets, its creditors cannot reach the personal assets of the shareholders.
Limited liability
Microsoft was charged with which of the following antitrust violations in 2000?
Maintaining market dominance by anticompetitive means.
Exclusive dealing and requirements contracts could result in competitors being denied a source of supply or a market for sale which is referred to as:
Market foreclosure
The threat to competition from a vertical merger that may deny a source of supply to a purchaser or an outlet for sale to a seller is known as:
Market foreclosure
A type of alternative dispute resolution that uses a neutral third party to facilitate an agreement between two disputing parties is
Mediation
Identify a merger hazard.
Mergers can significantly shape political affairs.
An employer who knew or should have known an employee could be dangerous, incompetent, or dishonest, and such characteristic was directly related to the injured party's damage, could be held liable under which of the following?
Negligence
The federal administrative agency in charge of ensuring safe workplaces is:
OSHA
A shareholder derivative lawsuit can be filed by minority shareholders of a corporation against whom?
Officers and directors
The Fair Labor Standards Act requires that covered employees receive at least what rate of pay for hours worked over 40 hours in a week?
One and a half times
Under Title VII, which of the following is not an available remedy for unlawful sexual harassment in the workplace?
Personal liability
Which of the following gives the states the authority to regulate commerce?
Police power
The H-1B visa is designed to bring foreign workers into the United States to fill what kind of positions?
Positions requiring a high level of skill and technical expertise in specialized fields such as science, engineering, or computer programming.
price discrimination
Price discrimination occurs when identical goods are sold at reasonably contemporaneous times to different purchasers at a different price, where the effect is to harm competitors.
The government is required to give notice and a fair hearing before taking action that affects a citizen's life, liberty or property because of:
Procedural Due Process
Which type of agency rules set forth the agency's internal operating structure and methods?
Procedural rules
Which of the following are possible defenses to strict liability cases?
Product misuse and assumption of the risk.
Under which of the following is it illegal, in connection with the sale or purchase of a security, to employ any scheme or to engage in any practice that defrauds another person participating in the financial markets?
Rule 10(b) of the 1934 Act
The federal legislation governing initial securities offerings is the:
Securities Act of 1933.
Horizontal group boycotts violate which federal legislation
Sherman Act
Which of the following pieces of federal legislation prohibits restraints of trade, monopolization, attempts to monopolize and conspiracies to monopolize?
Sherman Act
Which of the following is not a category of negligence claims stemming from defective products?
Strict liability
Which of the following tort claims focuses on the condition of a product rather than the conduct of the parties?
Strict liability
Laws that create, define and regulate legal rights and obligations are classified as:
Substantive
In the event of a conflict between state and federal law, which clause states that the federal law will prevail? Which of the following amendments poses an obstacle to FCC regulations on indecency?
Supremacy Clause
The __________ of the U.S. Constitution nullifies state action that conflicts with federal law.
Supremacy Clause
The constitutional amendment that reserves to the states any powers which are neither specifically delegated to the federal government nor prohibited to the state is the:
Tenth Amendment
Which of the following protects our personal freedoms, such as religion and speech, from the government?
The Bill of Rights
Which Amendment to the U.S. Constitution contains both the Establishment Clause and the Free Exercise Clause?
The First Amendment
Which Amendment to the U.S. Constitution protects free speech?
The First Amendment
Which Amendment provides for constitutional protection against state government?
The Fourteenth Amendment
Norah, a waitress at a restaurant, was hospitalized because of a drug overdose. When questioned by the police, she agreed to call Michael, whom she identified as the source of drugs. The police arrested Michael, searched him and his cell phone, and discovered call records confirming that the phone was used to talk to Norah. This evidence was used at trial against Michael, who argued that the cell phone search violated his Fourth Amendment rights. Which of the following is most likely to happen in this scenario?
The cell phone evidence will be discarded because it is unlawful for cell phones to be searched upon arrest without a warrant.
Which of the following rules provides that evidence secured in violation of the Fourth Amendment may not be used against a defendant at trial?
The exclusionary rule
Jack is driving from Los Angeles to San Francisco. On his way, Jack is stopped by a police patrol car for repeatedly crossing a double yellow line into oncoming traffic. A police officer politely asks Jack to step out of the vehicle, while the officer's partner performs a warrantless search of Jack's car. The police officer finds a gram of cocaine on the dashboard. Which of the following is most likely to happen in this scenario?
The police officer is allowed to secure drugs that are abandoned or in plain view even though a warrant has not been obtained.
Antitrust advocates have historically been concerned with all of the following except:
The preservation of monopolies
Breaches of duty to particular persons, causing loss or injury are categorized as:
Torts
Private parties may sue for __________ damages when they believe a merger has unlawfully harmed them.
Treble
An arrangement that permits a customer to buy or lease a desired product only if the customer also buys or leases another, less desirable product is referred to as a:
Tying arrangement
Transactions involving the sale of goods is governed by:
Uniform Commercial Code
Which of the following is a restraint imposed by suppliers on their buyers
Vertical restraints of trade.
Beatrice doesn't like her ex, Beauregard. Beatrice contracts with Beary to assault Beauregard for the sum of $5,000.00. This situation is best described as a(n):
Void contract.
Which of the following content included in articles of incorporation is discretionary?
Voting rules.
Disparate impact, or unintentional discrimination, is also known as
adverse impact.
A means for remedying past and present discriminatory wrongs in the workplace is known as
affirmative action
In a civil trial, after the judgment is rendered on a case, either party may appeal the decision to a higher court. If no error is found by the appellate court, the lower court decision is __________.
affirmed
In response to a complaint, the defendant may file with the court an initial pleading, called a(n) __________, wherein the defendant enters a denial by setting out his or her version of the facts and law, or in which the defendant simply concedes the validity of the plaintiff's position.
answer
If Tom owes John $300 for work that John has performed for him, and John gives this debt to Jim in repayment for work that Jim has done for him, then this transfer of rights to this debt is referred to as a(n) __________.
assignment
An employee who is not under contract for a definite period of time and who can be fired at any time is called a(n)
at-will employee
Tying arrangements are also known as
bundling
The outline that a law student prepares in an attempt to master the law is called a(n) __________.
case brief
Advertisements via circulars and billboards are examples of __________ speech.
commercial
A __________ merger is said to occur when an electronics company acquires a food manufacturing company.
conglomerate
A merger between firms dealing in unrelated products is a __________ merger.
conglomerate
In the context of takeover defenses, when a target company's management arranges for a friendly third party to purchase its critical assets at a reasonable price, it is referred to as a __________ defense.
crown jewel
The free market enthusiasm of the 1980s resulted in strenuous efforts to:
deregulate the economy
In the state court systems, generally at the base of the court pyramid in most states is a __________.
district court
Outrageous conduct causing severe emotional pain is the intentional tort claim of:
intentional infliction of emotional distress.
Independent agencies, such as the Federal Trade Commission, the Federal Communications Commission, and the Securities and Exchange Commission, were established by Congress by means of statutes labeled
enabling legislation
If an individual owns a potentially hazardous enterprise such as a bungee tower or a water slide, one way for the owner to protect himself from litigation should a customer be hurt is to include a(n) _____ in the customer agreement.
exculpatory clause
Random drug testing of employees is
forbidden by a number of states or limited to safety-sensitive situations.
A __________ merger involves firms that are in direct competition and occupy the same product and geographic markets.
horizontal
A dry cleaning company in a major city merges with another dry cleaning company in the same area. This is an example of a __________ merger.
horizontal
When competitors fix prices, restrict output, and divide territories among themselves, they are engaging in
horizontal restraints of trade.
A contract that is inferred on the basis of the facts or by the behaviors of the parties is a(n)
implied contract
The government might mandate disclosure requirements by businesses to combat imperfect or the lack of:
information
The crime of __________ trading has occurred when a director or an officer buys or sells a security while in possession of material, nonpublic information.
insider
The due diligence defense in a Section 11 action is available to all of the following except the:
issuers.
Respondeat superior stands for
let the master answer.
A movie theater is required to obtain a local permit for setting up its operations. This act of granting a local permit is called
licensure
The rule that states that acceptance is effective when sent, even if never received, is the __________ rule.
mailbox
The element of a crime that is the evil intent component is known as the:
mens rea
An innocent untruth is a(n)
misrepresentation
Pollution is an example of a
negative externality
Harm caused by carelessness is known as
negligence
The plaintiff in a breach of contract action who has suffered not actual damage may be entitled to an insignificant sum to illustrate the wrongfulness of the breach known as:
nominal damages
Tortious interference that impairs the enjoyment of one's land is known as a(n):
nuisance.
Few firms sharing monopoly power is a(n)
oligopoly
Governments can use the __________ to take private property for public uses such as building highways, bike trails, and parks, while providing just compensation to the owners.
power of eminent domain
With a condition __________, the parties to a contract have no binding duties until the specified event occurs.
precedent
Pricing below cost and a "dangerous probability" of recouping the losses suffered from the below-cost pricing are the two elements for establishing:
predatory pricing.
Selling substantially identical goods at reasonably contemporaneous times to different purchasers at a different price, where the effect is to harm competitors, is:
price discrimination.
The __________ offers the wisdom of the past and enhances efficiency by eliminating the need to resolve every case as though it were the first of its kind.
principle of stare decisis
The laws that are the methods of enforcing substantive rights are:
procedural laws
Under a __________ privilege, protection against a defamation suit is provided for legitimate business communications.
qualified
A ________ contract is where a seller agrees to supply all of a buyer's needs, or a buyer agrees to purchase all of a seller's output, or both.
requirements
In some cases of negligence claims, courts adopt the doctrine of __________, in which the facts suggest that the plaintiff's injury must have resulted from the defendant's negligence, but the circumstances are such that the plaintiff is unable to prove negligence.
res ipsa loquitur
In the context of employment discrimination, the Equal Employment Opportunity Commission
retains its right to sue on behalf of an employee even if the worker has signed away his or her own rights.
An employer may not take adverse action, known as __________, against an employee because that employee is participating in a Title VII complaint or investigation.
retaliation
For an offer to be valid it must contain all of the following except:
take written form.
Job loss or demotion in the context of sexual harassment law is known as
tangible employment action.
In United States v. Lopez, the United States Supreme Court ruled:
that the prosecution of a high school student for taking a gun to school in violation of the Gun Free School Zones Act did violate the Commerce Clause.
FTC and the Justice Department
the European Union
The responsibility of appointing officers and adopting bylaws for a corporation lies with:
the board of directors
The intentional entry onto the land belonging to another without consent is:
trespass.
An employer need not accommodate an employee's religious practice or belief if it creates a(n) __________ for the employer.
undue hardship
Consequences for violating securities laws include all of the following except:
unjust enrichment.
An agreement between two or more members of a supply chain is labeled a(n) _________ restraint on trade.
vertical
When a software development firm acquires a computer hardware manufacturing firm, it results in a __________ merger.
vertical
Respondeat superior is a form of __________ liability.
vicarious
Employers will be held liable under __________ reasoning for harm to third parties caused by the intentional or negligent acts of their employees when those acts occur on the job
vicarious liability
