Fin 292

Which of the following statements is true of mediation?

A trial judge can require the disputing parties to submit to the mediation process before a complaint can be litigated formally.

Which of the following statements is true of the use of alternative dispute resolution (ADR) techniques?

Disputing parties can agree to use an ADR technique after a dispute arises.

Administrative agencies often provide needed consistency in the formulation, application, and enforcement of rules and regulations governing business. These agencies are providing

Expertise

A decree of specific performance may be issued by a court to help an injured party in cases involving breach of contract and tortuous conduct but not when a statutory violation has occurred

False

Jurisprudence refers to the law itself and not to the philosophy of law

False

Procedural law defines rights and duties for the parties

False

The judicial power of the federal courts is defined and limited by the US constitution

False

The only way to obtain personal jurisdiction over a defendant is to have them served with a summons

False

The police are limitless, sometimes allowing the state government to be arbitrary, capricious, or unreasonable

False

The primary focus of policy making by the way of social regulation has been on balancing the costs of the programs with their potential benefits

False

Under the doctrine of Stare Decisis, courts are bound to follow the holdings and dicta of prior cases

False

Whether it's stated in the contact or not, when a breach of contract occurs, the injured party will usually recover her attorney fees as part of her compensatory damages

False

Bailey, the president of Carmichael Commodities Company, claims that certain actions by the federal government and by the state of Delaware infringe on rights guaranteed by the Bill of Rights. All of these rights limit

Federal government only

Which of the following is the essential definition of case law

Laws decided by judges on ad-hoc basis in individual cases

An automobile accident occurs in Alabama, but the lawsuit is brought in Georgia. The judge will apply what law for the accident.

None of the above

Beachside City enacts an ordinance that bans the distribution of all printed materials on city streets. Carl opposes the city's latest "revenue-enhancing" measure and wants to protest by distributing handbills. In his suit against the city, a court would likely hold the printed-materials ban to be

an unconstitutional restriction of speech

The ideas and philosophies that explain the origin of law and its justification are called __________.

jurisprudence

Subject matter jurisdiction is defined as __________.

a court's power over the issues involved in a case

Ethical formalists maintain that

harm to individual rights is never justified by an increase in organizational or common good

The party who initiates a civil lawsuit is called the __________.

plaintiff

When administrative agencies exercise their quasi-legislative power by issuing guidelines that have the force and effect of law, they are exercising their __________ function.

rule-making

Which of the following statements is false

Arbitrators must be licensed pursuant to the American Arbitration Association

Which of the following is a disadvantage of state decisis and the common law system

Dicta

Stakeholder theory suggests that ethical cooperate behavior

Depends on managers who recognize and take into account the various people whose interests the corporation impacts

Which of the following statements is true of substantive law?

Enforcement of a contractual promise is substantive in nature.

Which of the following statements is true of the Federal Arbitration Act(FAA)?

It covers any arbitration clause in a contract that involves interstate commerce.

Damages awarded one party to punish the other's conduct and to deter others from such conduct in the future are called ___ damages

Punitive

Which of the following is a type of regulatory authority which gives an administrative agency the ability to issue rules that have the impact of laws?

Quasi-legislative

The common law doctrine which provides for the final judgment entered by a court of competent jurisdiction to be conclusive and incapable of reiteration is known as

Res Judicata

Tirestone sells tires that are poorly made. There is no dispute that the tires are defective and such defects have caused over 80 deaths. Jennifer Dogooder, who has never bought a Tirestone tire, files a suit against the company, alleging that the tires are defective. Tirestone could ask for the suit to be dismissed on the basis that Jennifer Dogooder does not have

Standing

Which of the following is true about administration agencies

The actual regulatory activity is preformed by administrative agencies

Which of the following statements about the role of the commerce clause in regulating business activity is false?

The commerce clause prohibits a state from placing any burden on interstate commerce.

The Alabama legislature passed a law to regulate local online service providers. The local online service provides assert that the law is unconstitutional. The final authority regarding the constitutionality is

The courts

Which of the following is not a reason that the number of mediations is increasing

The rules of evidence are relaxed in mediation so the attorney can take a more active role allowing the businessperson more time to tend to their business.

Which of the following statements is true of the role of judges in U.S. courts?

They apply the law to the facts of a case.

Dicta is not precedent because it is a comment on a matter not necessary to the decision reached

True

Intrastate activities affecting the interstate commerce are regulated by the Congress

True

The Commerce Clause requires analysis of the regulation of commerce among several states

True

The most significant uniform for business is the Uniform Commercial Code

True

The __________ establish(es) the legislative, executive, and judicial branches of the federal government.

United States Constitution

The dominant form of consequentialism is

Utilitarianism

Which of the following ethical approaches focuses on the common good rather than on individual rights?

Utilitarianism

When agencies exercise their quasi-legislative power by issuing guidelines that have the force and effect of law, they are

rule making

Business ethics reflect elements of both formalism and consequentialism, but tend to focus more heavily on formalism.

false

Consequentialism is primarily a duty-based view of ethics.

false

Constitutional rights are constant and do not vary from time to time.

false

Discovery widens the issues disputed by the parties involved in a lawsuit.

false

Legislation passed by Congress is called an ordinance.

false

Stakeholder theory suggests that an ethical corporation utilizes its managers to foster risks to stakeholders which, if explained, would be clearly acceptable.

false

The rules and regulations of federal administrative agencies are not governed by preemption and are subordinate to state laws attempting to regulate the same activity.

false

By express language or by comprehensive regulation, Congress shows that it intends to exercise exclusive control over a particular subject matter. This doctrine of interpreting regulation is known as

federal preemption

Mike, an advocate of a certain religion, publishes an article in New Times magazine insisting that Congress base all federal law on his religion's principles. The First Amendment guarantees Mike's freedom of

religion, speech, press

Congress enacts a law prohibiting toys made in China from being sold in the United States. The Hawaii state legislature enacts a law allowing the sale of Chinese-made toys. Hawaii's law will most likely be

rendered invalid under the supremacy clause

Judicial review is the power of __________.

the courts to review laws passed by the legislative body and to declare them to be unconstitutional

A conflict exists between a state law and a federal law if the state statute would prevent or interfere with the accomplishment and execution of the full purposes and objectives of Congress.

true

A state's police powers are not limitless and are restricted by the U.S. Constitution and the dormant commerce clause concept.

true

A statute of limitations is a time limit, prescribed by each state, after which a suit cannot be filed.

true

All levels of government are larger and more complex in this decade of the twenty-first century than even 25 years ago.

true

Arbitration enables the disputing parties to avoid the formalities of a courtroom.

true

Ethical values underlie much law, including the law of how business operates and is regulated.

true

The Fourteenth Amendment to the U.S. Constitution recognizes that the law is enforced by taking a person's life, freedom, or the resources that he or she owns.

true

The executive branch of government normally appoints the top officials of an agency with the advice and consent of the legislative branch.

true

Ultimately, the commitment to ethical values is superior to mere observance of the law in ensuring responsible business behavior.

true