Final Exam

Question 1

Violations of The Sherman Act can impose what consequences for violations?

Answer 1

Fines and imprisonment

Question 2

Are competition restraints in commercial leases are generally valid?

Answer 2

Yes

Question 3

What act deals with price discrimination?

Answer 3

The Robinson-Patman Act

Question 4

Which act contains prohibitions on monopolization?

Answer 4

Sherman Act

Question 5

What acts prohibits unfair methods of competition?

Answer 5

Federal Trade Commission Act

Question 6

What are common elements that are found in non-compete covenants that are most likely to validate the agreement?

Answer 6

Reasonable, enforceable, and limited geographic conditions

Question 7

When are treble damages often recoverable for actions brought under monopoly infractions?

Answer 7

Sherman Act

Question 8

Are superior skill, foresight, and industry a basis to allow a monopoly to exist?

Answer 8

Yes

Question 9

Does the presence of a master-servant relationship determine whether or not a principal must pay wage taxes and withhold income taxes?

Answer 9

Yes

Question 10

Is an independent contractor controlled directly by the principal?

Answer 10

No

Question 11

When does an agency at will relationship exist?

Answer 11

There is no specific end date

Question 12

In a master/servant relationship, is the principal liable for the torts of the agent committed within the scope of employment of the “servant”?

Answer 12

Yes

Question 13

What are the requirements for the creation of an agency relationship?

Answer 13

A principal with capacity is required

Question 14

Are personnel manuals considered contracts?

Answer 14

Yes

Question 15

Who is protected in the public policy exceptions to the employment-at-will doctrine?

Answer 15

Whistleblowers

Question 16

Can a simple statement create implied authority to sell products and collect money to be deposited?

Answer 16

Yes

Question 17

The concept of a fiduciary relations between an agent and a principal requires the agent to act how?

Answer 17

In the interest of the principal

Question 18

Are there required formal requirements for forming a sole proprietorship?

Answer 18

No

Question 19

Will a sole proprietor’s personal assets be subject to business creditor attachment?

Answer 19

Yes

Question 20

Partners by implication be required to not share profits?

Answer 20

Yes

Question 21

Is a sole proprietorship considered a business entity?

Answer 21

No

Question 22

How is the partnership property ownership treated by the partners?

Answer 22

Tenants in partnership

Question 23

Can the death of a partner be the cause of dissolution of the partnership?

Answer 23

Yes

Question 24

Limited partners have liability for what portion of the partnership’s risk?

Answer 24

Only for the amount of their contribution

Question 25

What items are not required for the articles of incorporation?

Answer 25

The names of board members are not required at this point in formation of incorporation process

Question 26

The business judgment rule holds directors liable for what actions?

Answer 26

Failure to obtain necessary information for making decisions

Question 27

Is the primary offering or IPO the first-time offering of shares for sale?

Answer 27

Yes

Question 28

Are primary offerings of stock regulated by The 1933 Securities Act?

Answer 28

Yes

Question 29

Are secondary sales of securities regulated by the 1934 Securities Exchange Act?

Answer 29

Yes

Question 30

Are shareholder proposals that call for a shareholder vote on compensation considered proper under SEC rules?

Answer 30

Yes

Question 31

Does the SEC require registration of an IPO?

Answer 31

Yes

Question 32

What best describes a primary stock offering?

Answer 32

The initial public stock offering or IPO

Question 33

What would not be considered a security under the 1933 Act?

Answer 33

A pension fund

Question 34

Who is liable for a Section 11 violation?

Answer 34

Directors and officers of the corporation

Question 35

What is the scienter required for proof of a 10(b) violation?

Answer 35

The intent to defraud

Question 36

The Fair Labor Standards Act is also referred to as what law?

Answer 36

The minimum wage law

Question 37

Are child labor protections a part of FLSA?

Answer 37

Yes

Question 38

Is retaliatory conduct against an employee who files a complaint prohibited under OSHA coverage?

Answer 38

Yes

Question 39

Are wages and hours examples of mandatory subjects for good-faith bargaining?

Answer 39

Yes

Question 40

Which employees are exempt under FLSA?

Answer 40

Agricultural employees, professions of law and medicine, executive, and administrators

Question 41

The FLSA covers what labor protections?

Answer 41

Child labor protections

Question 42

Is OSHA the agency responsible for ensuring safety in the workplace?

Answer 42

Yes

Question 43

What act addressed only the issue of wage discrimination?

Answer 43

The Equal Pay Act

Question 44

Is the pattern or practice of discrimination considered to be discrimination against a group rather than a person?

Answer 44

Yes

Question 45

What is required to establish a prima facie case for disparate treatment?

Answer 45

Plaintiff must belong to a minority group and must be qualified for the job

Question 46

The pattern or practice of discrimination cases can be defined by what actions?

Answer 46

Statistical comparisons of the general population

Question 47

The prohibitions on sex discrimination apply only to what activates by the employer?

Answer 47

Job hiring decisions, promotions, and wage increases

Question 48

Under Title VII, sexual harassment complaints require proof of what actions?

Answer 48

The required actions are either verbal or physical suggestions

Question 49

Under Title VII, employers who have had an incident of sexual harassment reported to them are responsible in what areas?

Answer 49

The employers are required to take some action to investigate the complaint and can be held liable in tort for their inaction

Question 50

Under The Pregnancy Discrimination Act, employers are prohibited from what actions?

Answer 50

Employers are prohibited from requiring pregnant women to take leaves, cutting the pay of women who return to work after maternity leave, and from basing a promotion decision on the basis of a pregnancy or planned pregnancy.