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Business Law - High Stakes Challenge Flashcards | StudBud
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Business Law - High Stakes Challenge
Business Law - High Stakes Challenge
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1
How many stages are there in Kohlberg's theory of moral development?
4
5
3
2
2
In rem jurisdiction
refers to jurisdiction over the person.
True
False
3
Although corporations are not persons but artificial entities created by the state, they can be held morally accountable
True
False
4
Which of the following is a common purpose of the civil and criminal law?
Compensation
Rehabilitation
Deterrence
Punishment
5
A corporation is considered a citizen:
of the state of its incorporationor where it has its principal office.
of all of the states in which it does business
under the FourteenthAmendment’s “privileges or immunities” clause.
All of these statements are true.
6
U.S. Supreme Court judges receive lifetime appointments from the President, subject to confirmation by the Senate
True
False
7
If a defendant acts under emergency conditions, these conditions are considered in the reasonable person standard.
False
True
8
A court order requiring that a person do or refrain from doing a particular act is known as a(n):
Injunction
Regulation
Maxim
Statute
9
Which arguments oppose business involvement in socially responsible activities?
Unfairness to company employees and shareholders.
Lack of Accountability
All of these are true.
Lack of corporatefocus on profitability.
10
The federal courts do not have exclusive jurisdiction over:
federal criminalprosecutions
trademark and copyright cases
bankruptcy cases
issues involving state constitutions.
11
The three distinct and independent branches of the United States government are:
The federal judiciary, the House of Representatives, and the U.S. Senate
The state government, the Congress, and the executive branch
The federal judiciary, the Congress, and the executive branch
The executive branch, the House of Representatives, and the U.S. Senate
12
The pleadings in a lawsuit include:
Written interrogatories
Complaint and Answer
The depositions
Evidence presented in trial
13
A traffic offense, such as a speeding ticket, would be heard by a:
State inferior trial court.
State probate court
U.S. Court of Federal Claims
U.S. District Court
14
Under which of the following provisions of the U.S. Constitution is a corporation not a "person"?
The Fifth Amendment’sDue Process Clause
The FourteenthAmendment’s Equal Protection Clause
The Fifth Amendment’sclause protecting against self-incrimination
The Fourteenth Amendment’s Due Process Clause
15
Which one of the following is NOT true of a suit brought under criminal law?
It must be brought by the Government
It is brought on theground of public policy.
Proof of guilt mustbe "by a preponderance of the evidence."
Conviction may result in imprisonment
16
A corporation owned by one person is treated under the law as that person.
False
True
17
The party who files an appeal is the:
Appellant
Defendant
Plaintiff
Appellee
18
A ____ is an act or omission prohibited by law, for the protection, whereby proof must be beyond a reasonable doubt.
Crime
Regulation
Sanction
Ordinance
19
A corporation has no constitutional protection against unreasonable searches and seizures.
True
False
20
A reasonable person, in tort law, is a fictitious individual who is always careful, prudent, and never negligent.
False
True
21
The Uniform Commercial Code is a federal law that applies to commercial transactions among the states.
True
False
22
Comparative negligence has replaced the contributory negligence doctrine in most states.
False
True
23
An example of a special court in the federal judicial system is the:
U.S. Court of Appeals
U.S. Supreme Court
Federal District Court
U.S. Court of Federal Claims
24
In all states, a 16-year-old who drives a car will not be held to the same standard of care as an adult.
True
False
25
Contracts are primarily governed by the Uniform Commercial Code
False
True
26
Which of the following names would NOT be permitted under most general incorporation statutes?
Acme Ltd
Acme Co
Acme
Acme Inc
27
Each party to a contract must intentionally exchange a legal benefit or incur a legal detriment.
True
False
28
One who has not created a peril has a duty to take affirmative action to assist an imperiled person.
False
True
29
Which is NOT TRUE about a pretrial conference?
It involves the judge and attorneys representing the parties to a dispute.
The purpose is to simplify the issues in dispute
It is held to encourage settlement
It's a meeting between attorneys and their clients to discuss issues & fees
30
The separation of powers involves:
The executive branches at the federal, state, and local levels
the court systems atthe federal, state and local levels
The federal judiciary, the Congress and the executive branch
The federal House of Representatives and the federal Senate
31
Laws passed by Congress are the supreme law of the land in the U.S. and take precedence over the U.S. Constitution.
False
True
32
Which of the following is correct with respect to the reasonable person standard?
It applies a test to children that considers age, background, & experience
All of these
It allows for physical disability
It considers whether a person has special skills or training
33
The law is a combination of:
mandatory, mundaneand mediocre.
permissive, passiveand meditative.
prohibitory,mandatory and permissive.
prohibitory,malevolent, and mandatory
34
Generally, State A may exercise "long arm" jurisdiction over a defendant located in State B if the defendant:
Once resided in State A
Uses a product produced in State A
Made a contract in State A
Has relatives in State A
35
If a person who has been declared incompetent by the courts enters into an agreement, that agreement is void.
False
True
36
The law that creates, defines, and regulates legal rights and obligations is known as:
Procedural
Constitutional
Substantive
Criminal
37
Which of the following is NOT always necessary in order for a valid contract to be formed?
Competent parties
A writing
Mutual Assent
Legality of Purpose
38
Subject matter jurisdiction is the authority of a particular court to adjudicate a controversy of a particular kind.
False
True
39
A corporation whose principal place of business operation is Florida must be incorporated in Florida.
True
False
40
Which of the following is not a characteristics of a corporation?
It is usually managedby its shareholders.
It has perpetual existence.
It has its own legal existence.
It is able to sue and be sued.
41
The "discovery" stage of a trial includes which one of the following?
production ofdocuments
Selection of Jury
cross examination ofwitnesses
arrest of suspect
42
Which of the following contracts is covered by Article 2 of the Uniform Commercial Code?
The sale of a house.
The sale of a new car.
A sale of automobile insurance
The sale of an insurance policy
43
A form of strict liability applies to all of the following situations except:
a herd of goats go on neighbor's property, eating and trampling their roses
a fireworks factory thatblows up and injures townspeople and their property
a medical procedure
a lawnmower sold in adefective condition that injures its owner
44
"I promise to pay you $100 if you will promise to fix my car next month." This is an offer for a unilateral contract.
False
True
45
The rule which permits the jury to infer both negligent conduct and causation from the occurrence of certain events is:
res ipsa loquitur
Causation in Fact
Comparative negligence
Proximate cause
46
The branch of public law that deals with the various regulatory functions and activities of the government is:
Criminal
Administrative
Substantive
Constitutional
47
A person is under a duty to all others at all times to exercise reasonable care for the safety of others.
True
False
48
To resolve a lawsuit, a court must have how many different types of jurisdiction?
Two
One
Four
Three
49
The party bringing a civil lawsuit must prove the case by a preponderance of the evidence.
False
True
50
Kohlberg observed that people progress through stages of moral development according to the major variables of:
age and education
age, economic status,and peer influence
religion, education,and the influence of peers and family
education and family guidance
51
Name the 2002 federal legislation imposing corporate governance requirements on publicly held corporations.
The Securities andExchange Act
The Sarbanes-Oxley Act
The Kohlberg Act
The Uniform Commercial Code
52
Which of the following run the day-to-day operations of a corporation?
Subscribers
Shareholders
Board of Directors
Officers
53
The person who files or commences a civil lawsuit is known as the:
Prosecutor
Defendant
Plaintiff
Respondent
54
The owner of a dog will always be strictly liable if the dog bites someone.
False
True
55
"Doing business" in a state will subject a foreign corporation to its litigation, regulation, and taxation.
False
True
