Law 421 contemporary business law final exam 30 questions and

LAW 421  Final Exam

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1) Which of the following does not result in a decision rendered by the hearing officer?

2) Jurisprudence is defined as

3) The state of Kansas has enacted a new law requiring all commercial trucks driving on Kansas roads to have special mud flaps installed. These mud flaps have been proven to make driving in the rain significantly safer due to reduced mist created by trucks driving in the rain, although data regarding accidents and injuries has not yet been determined. Any truck entering Kansas must have these flaps installed or will be subject to a significant fine and delay. The cost for purchase and installation of these flaps is $1,000 per truck. In short, trucks must have these flaps or go around the state. This Kansas law

4) The power of preemption is derived from

5) What is the main problem with international courts?

6) Under the U.S. legal system, subject to some exceptions, costs of litigation regarding both the plaintiff and defendant

7) Generally, torts law is governed by

8) Assumption of risk is a defense to

9) The three stripes on Adidas clothing represents a

10) The color or shape of an item, if distinctive, is a

11) Cybersquatting describes the practice of

12) The Digital Millennium Copyright Act (1998) provided each of the following protections EXCEPT

13) When Maria comes home from work, she finds that her yard has been mowed and trimmed. An hour later, a man comes to her door to collect payment for the yard work. Maria refuses to pay him because she has never seen him before nor had she hired him to do the work. Which of the following is accurate?

14) Where a promise can only be accepted by the performance of the person to whom it is offered is an example of a/an

15) Each of the following is a discharge by mutual consent EXCEPT

16) Harry sees an AK-47 automatic assault rifle in a gun shop window. He inquires about the price and is told that it is $2,500. Harry signs a contract promising to pay the $2,500 on Friday, taking possession of the rifle when payment is made. On Thursday, a law is enacted making the ownership, sale, or possession of an automatic rifle illegal. This contract

17) Which of the following is rarely awarded in contracts cases?

18) Which of the following is classified as an equitable remedy?

19) Which of the following would not be considered tangible?

20) With regard to consideration in a sales contract, the UCC differs from the common law in that

21) The UCC will permit an incomplete or slightly ambiguous contract to be enforced using each of the following criteria EXCEPT

22) Two merchant companies have entered into a contract for the sale of goods but have had no prior dealings, which would establish a course of conduct between them. The UCC will allow gap fillers to apply to their contract regarding missing terms in each of the following situations EXCEPT

23) When a buyer rejects nonconforming goods and purchases the appropriate goods from a different seller, this is an example of which of the following:

24) Which of these is not a requirement for disclaiming a warranty?

25) “What if everyone took these same actions” is a question sometimes called the

26) The utilitarian approach to moral philosophy was founded by

27) Stan is an investment manager. He has received money from various investors with a promise of very high returns on their investments. The invested money is not supplying enough capital in order to pay the returns promised, so he has started using new investor’s money to pay older investors. By advertising and by word of law 421 final exam mouth, people are anxious to invest with Stan because of the money being paid, and with the influx of new investors, he is able to continue operating. Stan is

28) Ben is the manager of a branch of a large bank. He has regularly taken money from customer’s accounts for his own use and changed the bank records to cover his actions. Ben is guilty of

29) The Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations do business through regulations in each of the following areas EXCEPT

30) Joan is the CFO of Para Corp. and is a year from retirement. In order to guarantee herself a very substantial bonus and to boost her retirement package, she knowingly certifies false financial reports making the company appear to be much more profitable than it really is. She further takes steps to assure that the financial report was not reviewed through internal controls maintained by Para Corp. Under the provisions of the Sarbanes-Oxley Act (2002), if her fraud is NOT part of a larger scheme, what criminal penalties are possible for Joan?

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