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Business Law

1. The best example of a chief executive's quasi lawmaking ability is:
A. Appointment Power
B. Rule Making
C. Executive Orders
D. None of the Above

2. T/F The Statute of Frauds was erected outside the British Parliament in 1677.

3. T/F A defendant in a civil action for FRAUD can be sentenced to jail time if convicted by a jury

4. Under the rules of precedent, a definitive and unquestionable ruling by the 9th Circuit Court of appeals MUST be followed by the following courts:
A. US Supreme Court
B. Arizona Superior Court
C. District Court of California
D. Both E & C but not A
E. University of Phoenix Staff

5. T/F Patent protection is available for products as well as business methods.

6. Intentional torts include the following:
A. Extreme Napping
B. Negligence
C. Defamation
D. Both B and C, but only sometimes A

7. T/F US Trademarks were adopted by the World Intellectual Property
Organization in 1984 as the standard for international protection.

8. Licensing agreements automatically expire:
A. After one year
B. After one year with 30 days prior written notice
C. According to the terms of the agreement
D. The are perpetual and do not expire

9. T/F A quasi contract is a contract implied by law.

10. When does common law control the sale of goods otherwise governed by Article
2 of the UCC?
A. What is the UCC
B. When components of the sale are primarily goods
C. When components of the sale are primarily services
D. Never
E. Always

11. When delivery terms specify FOB Destination, who is subject to risk of loss in transit?
A. FedEx
B. UPS
C. Seller
D. Buyer
E. Gremlins

12. Describe the difference between mens rea and actus reus.
A. Mens Rea means guilty mind
B. Mens Rea requires intent
C. Actus Reus means guilty act
D. Actus Reus is not required
E. All of the above
F. None of the above
G. A, B and C
H. A, C and D

13. T/F Due to the prevalence of white collar crime, accountants are REQUIRED to maintain professional liability insurance.

Solution Preview

It is my goal to provide ideas, definitions, research help, and instructions on how you, the student, should approach the assignment.

1. The best example of a chief executive's quasi lawmaking ability is:
A. Appointment Power
B. Rule Making
C. Executive Orders
D. None of the Above

Well, for this one you need to think about laws really are, and those are rules. So in this case "lawmaking"="Rule Making".

2. T/F The Statute of Frauds was erected outside the British Parliament in 1677.
False. The statute, not statue, was a set of laws enacted by Parliament in 1677. It is not a physical object, and thus cannot be "erected" anywhere.

3. T/F A defendant in a civil action for FRAUD can be sentenced to jail time if convicted by a jury

For this one, you need to think about what happens in civil court. Can civil courts put people in jail?

4. Under the ...

Solution Summary

The solution discusses different questions regarding business law, including fraud, rules of precendent, patents, torts, trademarks, common law and FOB.

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