Business Law Final Flashcards by Shilo Jackman

True or False: 1. State legislatures sometimes come together to draft “uniform acts” to promote uniformity
on certain subjects.

False

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Which of the following is true regarding equity?
A) Today, most states have abolished separate equity courts.
B) The typical equitable remedy is money damages.
C) The rules of equity are very precise and technical.
D) Equitable principles defeat inconsistent statutes.

A) Today, most states have abolished separate equity courts.

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3. Which of the following types of law is made by a legislature?
A) Administrative regulations.
B) Executive orders.
C) Statutes.
D) Two of the above

C) Statutes.

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True or False: A state statute defeats an inconsistent federal administrative regulation in case of a
conflict between them.

False

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True or False: A state homicide statute is an example of a substantive law.

True

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True or False: For federal district court diversity jurisdiction to exist, the amount in controversy must
exceed $75,000.

True

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True or False: In rem jurisdiction is based on the fact that property of the defendant is located within the
state.

True

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True or False: Interrogatories are a form of discovery requiring a party to file written answers to
questions submitted to him

True

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Which of the following motions is made at trial and, if successful, essentially “takes the
case away from the jury” and gives a judgment to one party?
A) The motion to dismiss
B) The motion for a new trial
C) The motion for summary judgment
D) The motion for a directed verdict

D) The motion for a directed verdict

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Depositions are:
A) Written questions directed to a party, answered in writing, and signed under oath
B) Documentary evidence introduced at trial.
C) Oral examinations of a party or a party’s witness by the opposing party’s attorney
D) Written statements made during arbitration

Oral examinations of a party or a party’s witness by the opposing party’s attorney

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True or False: Although it is a criminal statute, the RICO statute also allows civil actions in which
private plaintiffs may recover treble damages.

True

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True or False: The warnings required by the Supreme Court in the Miranda decision were designed to
further Fourth and Eighth Amendment protections

False

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True or False: Corporations may be held criminally liable even in the absence of proof that high
corporate officers ordered or acquiesced in the offense charged.

True

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The Sixth Amendment does not guarantee a criminal defendant:
A) the right to a trial by an impartial jury.
B) the right not to be subjected to unreasonable searches and seizures.
C) the right to confront and cross-examine witnesses against him.
D) the right to a speedy trial.

B) the right not to be subjected to unreasonable searches and seizures.

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Which of the following is an accurate statement about the Fifth Amendment?
A) It would allow a Bogus, Inc. officer who has custody of Bogus records to resist a
subpoena demanding production of those records if the contents of the records could
incriminate that officer personally.
B) It would prevent a sole proprietor from being compelled to produce her business
records if the act of producing such records was not testimonial in nature.
C) It may be asserted by a corporation, partnership, or other collective entity on the same
basis that an individual human being could assert it.
D) It does not protect “required records” from being subpoenaed and used against the
recordkeeper in criminal prosecutions.

D) It does not protect “required records” from being subpoenaed and used against the
recordkeeper in criminal prosecutions

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True or False: While driving his new four-wheel drive vehicle at a high speed through a muddy field at
the county fair, Joe runs into Susan. Joe wasn’t trying to hit anyone and wasn’t
substantially certain that this would happen either. Rather, he was just having a good
time. Of course, Joe knew and had to know that this behavior carried with it a high risk
of harm to someone. Joe’s behavior is best described as reckless

True

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True or False: Defamation liability requires publication of the defamatory statement to an appreciable
number of people.

False

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True or False: In order to be liable for conversion, the defendant must know that the property rightfully
belongs to someone else.

False

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Doris locks Phil in a first-floor room. Phil sues Doris for false imprisonment. Which of
the following is true?
A) Doris would escape liability if she let Phil out of the room after one hour.
B) According to some courts, Doris would escape liability if Phil slept through the entire
period that the door was locked and thus was unaware that he was being detained.
C) Even if Phil could easily have escaped through an open window, Doris still is liable.
D) Doris would not be liable if Phil could have escaped by traveling two miles through a
narrow, filthy, rat-infested sewer line that periodically floods with water.

B) According to some courts, Doris would escape liability if Phil slept through the entire
period that the door was locked and thus was unaware that he was being detained.

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Store owners’ “conditional privilege” defense against intentional tort claims brought by
detained shoplifting suspects, recognized by most states, usually
A) requires only that the store owner acted with reasonable cause in detaining the
suspect.
B) requires only that the store owner detains the suspect for a reasonable length of time.
C) extends only to false imprisonment claims.
D) requires that the store owner act with probable cause, in a reasonable manner, and
detain the suspect for only a reasonable length of time.

D) requires that the store owner act with probable cause, in a reasonable manner, and
detain the suspect for only a reasonable length of time.

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True or False: Proximate causation presupposes the existence of actual or but-for causation; you can’t
have the former without the latter.

True

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True or False: One of the factors courts consider when determining the reasonableness of the risk
created by the defendant is the “social utility” of the defendant’s conduct.

True

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True or False: Negligence defendants are never liable for the consequences of an unforeseeable
intervening cause.

False

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Which of the following essentially is a “defense” to the negligence defense called
contributory negligence–that is, something that will knock out an otherwise-good
contributory negligence defense?
A) Last Clear Chance
B) Res Ipsa Loquitur
C) Proximate Cause
D) The “Substantial Factor” Doctrine

A) Last Clear Chance

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25. Parsons, a pedestrian watching a construction project, sees that a metal beam being lifted by a crane is about to drop on some unsuspecting workers. Thus, he rushes to the scene to warn the workers. For his efforts, he is struck by the falling beam. He sues the construction company in negligence. Which of the following is true? Assume that the falling beam was caused by a breach of duty on the company's part. A) Parsons will recover against the company. B) Parsons will not recover, because it is not foreseeable that a pedestrian would run onto the scene of an accident such as this. C) Parsons will not recover, because he knowingly and voluntarily assumed the risk of being struck by the beam. D) b and c are both true.

A) Parsons will recover against the company.

American law is based largely on ___ common law, which was a body of general rules that applied throughout the entire English realm. a. Spain b. French c. English d. German

English

With English common law, there were two separate court systems:

Courts of law and Courts of equity

Courts of law granted limited kinds of (monetary) remedies such as: a. land b. items of value c. Money d. all above

d. all above

Courts of equity awarded non-monetary relief (remedies in equity) such as specific: a. performance b. injunction c. rescissions d. all above

all above

Though the courts of law and equity have merged in most of the U.S., they still recognize

legal remedies and equitable remedies.

A party can request both legal and equitable remedies in the same action, and the trial court judge may grant: a. either or both forms of relief b. neither forms of relief

a. either or both forms of relief

Stare Decisis ("stand on decided cases") is a common law doctrine under which judges must

follow the precedents established in prior decisions.

It helps the courts be more efficient and makes the law more stable and predictable

Stare Decisis

Stare decisis has two aspects: 1. A court should not overturn its own precedents unless there is a compelling reason to do so. 2. Decisions made by a higher court are binding on lower courts.

1. A court should not overturn its own precedents unless there is a compelling reason to do so. 2. Decisions made by a higher court are binding on lower courts.

Binding Authority includes: a. constitution b. statues c. regulations d. all above

d. all above

Sources include precedents from other jurisdictions; a. Fairness b. Social Values c. Customs d. All above

d. All above

Pervasive authority is used in cases of: a. First impression b. second impression c. Those that have no precedent d. a and c

D. a and c

Criminal law is concerned with wrongs committed against the ___ as a whole. a. government b. private c. public d. nation

c. public

Criminal acts are defined and prohibited by: a. local b. state c. federal government statues d. all above

d. all above

Plaintiff: The party who ____ a lawsuit.

initiates

Defendant: The party ____ whom the lawsuit is brought.

against

Courts of original jurisdiction are those in which the case is heard and decided for the __ time. a. first b. second c. third d. fourth

a. first

Exclusive jurisdiction: Only ___ court (state or federal) has the power (jurisdiction) to hear the case. a. two b. three c. one d. four

c. one

The arbitrator's decision is called an ___ and is usually the final word on the matter. a. award b. punishment

a. award

Issue of Arbitrability: No party will be compelled to arbitration unless a court finds the party consented, and that they are ___ to both parties.

fair

The defendant must be formally ___ of the lawsuit

notified

A writ will not be issued unless at least __ of the __ justices approve of it. a. first and nine b. four and nine c. nine and four d. two and three

b. four and nine

Federal Court System is basically three-tiered system: a. U.S. District Courts b. U.S. Courts of Appeal c. U.S. Supreme Court. d. All of above

d. All of above

They receive lifetime appointments under Article ____of the U.S. Constitution a. I b. II c. III d. IV

c. III

All federal court judges including Supreme Court justices are appointed by the president of the

United States, subject to U.S. Senate confirmation

True or False: U.S. Law is based primarily on the Spanish and French Common law.

False

``` Which is not included in the 3 constitutional tests? Intermediate Scrutiny Test Rational Basis Test Strict Scrutiny Test Natural Rights Test ```

Natural Rights test

Which is not a recognized invasion of privacy tort? intrusion upon seclusion, placing another person in a false light, and misappropriation of a person’s name or likeness for commercial purposes. All of the above are examples of Invasion of privacy tort

All of the above are examples of invasion of privacy tort.

True or false: When defamation is spoken it is called slander and when it is written it is called libel.

True

``` What does the creation of contracts do? Reduce conflict Encourage businesses to take rational risks Promote fraud Both A and B ```

Both A and B

An offer will be terminated for which of the following reasons? The offeree no longer wants to abide by the contract terms The offeror dies

the offeror dies

True or false: Sole proprietorship and a general partnership are easily formed at little cost and can easily operate across states.

True

``` What type of corporation is exemplified by a Canadian food chain? Domestic Foreign Alien Non-profit ```

Alien

``` What type of corporation is exemplified by a Canadian food chain? Domestic Foreign Alien Non-profit ```

Answer: Sherman Act

True or False: Production cost cannot be used as a defense against a company accused of price discrimination.

False

``` Creative works are protected for the entire life of the author plus how many additional years? 40 48 67 70 ```

``` Nike is an example of which type of trademark? Arbitrary Fanciful Descriptive Suggestive ```

Suggestive

True or False: The Securities Act of 1933 was passed to deter fraud and ensure full disclosure in the trade and issuance of securities.

True

``` The Securities and Exchange Commission is composed of how many commissioners appointed by the President? 2 3 4 5 ```

True or False: A full warranty covers any promises that fall short. Answer: False, that is the purpose of a limited warranty

False

``` What year was the Consumer Product Safety Act created? 1950 1939 1972 1999 ```

1972

Agency is what type of relationship between a principal and an agent? Authority Contract Circumstantial

Contract

What must a principal provide to an agent? Free lunch Safe working conditions Water

Safe working conditions

What act allowed employees’ the right to unionize? Securities Act Norris-LaGuardia Act Clayton Act

Norris-LaGuardia Act

``` Which kind of strikes are not authorized by the union? Lion Strikes Bobcat Strikes Wildcat Strikes None of the above ```

Wildcat strikes

``` Which Clause gives congress the power to regulate commerce with other nations? Treaty Supremacy Contract Foreign Commerce ```

Foreign Commerce

``` The _________ of the UN is the executive arm of the UN President Secretariat General Assembly Security Council ```

Secretariat

With English common law, there were two separate court systems: a. court of law b. court of injection c. court of equity d. A and C

d. A and C

Though the courts of law and equity have merged in most of the U.S., they still recognize ___ remedies and ___ remedies. a. legal and law b. legal and equitable c. value and equitable d. doctrine and law

b. legal and equitable

Stare decisis has two aspects: a. A court should not overturn its own precedents unless there is a compelling reason to do so. b. Decisions made by a higher court are binding on lower courts c. a and b

c. a and b

Binding Authority: a. Any source of law a court must follow when deciding a case. b. A binding authority that requires a court to follow prior court decisions in its jurisdiction. c. Any primary or secondary source of law that a court may consult for guidance but that is not binding on the court.

a. Any source of law a court must follow when deciding a case.

Persuasive Authority: a. Any source of law a court must follow when deciding a case. b. A binding authority that requires a court to follow prior court decisions in its jurisdiction. c. Any primary or secondary source of law that a court may consult for guidance but that is not binding on the court.

c. Any primary or secondary source of law that a court may consult for guidance but that is not binding on the court.

Controlling precedent: a. Any source of law a court must follow when deciding a case. b. A binding authority that requires a court to follow prior court decisions in its jurisdiction. c. Any primary or secondary source of law that a court may consult for guidance but that is not binding on the court.

b. A binding authority that requires a court to follow prior court decisions in its jurisdiction.

A prior judicial decision is a binding precedent only when the subsequent court is applying the ___ law as the prior court. a. different b. same

same

Criminal law is: a. defined and prohibited by local, state, or federal government statutes. b. concerned with wrongs committed against the public as a whole.

concerned with wrongs committed against the public as a whole.

Business Law Final Flashcards

(80 cards)