HOMEWORK

In pre-trial discovery, if a business does not produce incriminating e-mails the court can instruct the jury that it can make negative inferences from the lost documents.

	A. True
	B. False

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In litigation, indirect non-legal costs are roughly the same amount as direct legal costs.

	A. True
	B. False

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All of the following are ways to lower business risk except:

	A. stick to company business
	B. always be respectful, courteous and constructive
	C. keep matters confidential
	D. take shortcuts to increase profits

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Issuing a public apology for corporate wrongdoing will always result in increased litigation.

	A. True
	B. False

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When answering a complaint the defendant can do all of the following except:

	A. deny the allegations set forth in the complaint
	B. list defenses
	C. admit to the allegations set forth in the complaint
	D. defer answering for 180 days

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All of the following are methods of alternative dispute resolution except for:

	A. mediation
	B. litigation
	C. arbitration
	D. settlement

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The monetary damage award set out by the court is the amount the prevailing party is guaranteed to receive from the losing party.

	A. True
	B. False

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Examples of antitrust activities include all of the following except for:

	A. price fixing
	B. allocation of markets
	C. standardization among trade association members
	D. concerted refusal to deal

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The grant of a patent is a limited "monopoly" and can run counter to the antitrust principle encouraging free and open markets.

	A. True
	B. False

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All of the following are a type of contract except:

	A. Express
	B. Implied
	C. Enduring
	D. Unilateral

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Which of the following is not a form of business organization?

	A. Limited Liability Corporation
	B. Partnership
	C. Sole Proprietorship
	D. Corporation

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Identify the correct statement about liability in business organizations

	A. A partner is not responsible for the debts of the partnership.
	B. A sole proprietor is personally liable for all debts of the business.
	C. A shareholder is responsible for the debts of the corporation.
	D. A member is personally liable for the debts of the LLC.

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The revenue from a Chapter C corporations is taxed twice.

	A. True
	B. False

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The test for mental capacity to enter into a contract is whether the person has reached the age of majority

	A. True
	B. False

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A partnership must prepare an income tax return but the partnership pays no income taxes itself.

	A. True
	B. False

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Using only the course materials, describe three differences between a limited liability company and a corporation. Cite your sources.

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Using only the course materials, list and provide examples for five defenses to a breach of contract claim. Cite your sources.

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List three types of contracts that must be in writing in order to be enforceable. What doctrine applies here? Use only the course materials and cite your sources.

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Jim wants to sell his car to Marsha. Describe what elements would need to be present in order to have a valid contract. Would this contract fall under the UCC? Why or why not? Use only the course materials and cite your sources.

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List at least three factors that weigh in favor of patents. List three factors that weigh in favor of trade secrets. Use only the course materials and cite your sources.

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