Contracts Quiz
BUSI 301 Week 4/Module 4
1.What happened that caused WorldCom's CEO
Bernard Ebbers to go to jail?
Multiple Choice
High level officials including Ebbers allowed unsafe
working conditions in the workplace in violation of OSHA
regulations.
Ebbers and other WorldCom officials were caught selling
fraudulent company stock.
Ebbers and other WorldCom officials were embezzling
money from the company.
Ebbers and other WorldCom officials used fraudulent
accounting methods to overstate their financial status.
WorldCom’s board of directors caught Ebbers selling
trade secrets to China, In violation of the company's
intellectual property rights.
2.Which of the following do not spell out what
market participants may and may not legally
do?
Multiple Choice
Regulatory bodies
Legislatures
Constitutions
Business Owners
Courts
3.What do values generally represent?
Multiple Choice
Government imposed moral minimums.
Action-oriented goals set by the state.
Our bellef in what is right and wrong.
Our understanding of the purposes we will fulfill by
making particular decisions.
Our subconscious demands.
4.A case that has been used in accordance with
stare decisis as a binding precedent is which
abolished discriminatory policies for
individuals of different racial backgrounds.
Multiple Choice
Laughlin v. Glover
Curtis v. School Board
Brown v. Board of Education
Story v. Price
Grover v. Sidwell
5.The Stolen Book. Betty tells Susan that Bob
stole her business law book from her car. The
next day Susan confronts Bob and slaps him
for stealing her book. Bob has Susan arrested
for slapping him. Susan sues Bob for damages
in the amount of the book and for maliciously
having her arrested. Claiming that she lied,
Bob sues Betty for defamation. The lawsuit
Susan has against Bob for damages for
stealing her book involves which of the
following?
Multiple Choice
Administrative law
Both public and private law
Public law
Comprehensive law
Private law
6.Which of the following topics is not regulated
by the Uniform Commercial Code?
Multiple Choice
Bank collections
Bank deposits
Warranties
State taxes
Title documents
7.Paired with the publications of the American
Law Institute, what became the source of the
Uniform Commercial Code?
Multiple Choice
State legislatures
The National Conference of Commissioners on Uniform
State Laws
The National Uniform Code Committee
The Uniform Contracts Code Committee
The U.S. Senate and House of Representatives
8.Which of the following is not a purpose of the
law as set forth in the text?
Multiple Choice
Guaranteeing personal freedoms
Encouraging taxation
Providing order such that one can depend on a promise or
an expectation of obligations
Serving as a moral guide by indicating minimal
expectations of citizens and organizations
Encouraging social justice
9.What does the so called public disclosure or
"television test" mean in regard to ethical
considerations?
Multiple Choice
It asks us to consult with the public before any major
Industry decision is made.
It requires that actions be discussed with local officials
before any action Is taken.
It asks us to consider what the world would be like if our
decision was copied by everyone else.
It suggests that we interact with other people in a
manner consistent with the way we would like for them to
Interact with us.
It requires us to imagine that our actions are being
broadcast on national television.
10. A commercial firm that seeks to merge
with another firm must obey the laws of
antitrust. This is an example of:
Multiple Choice
ethics
equity
The Uniform Contracts Code
business law
The International Contracts Code
11. The Stolen Book. Betty tells Susan that Bob
stole her business law book from her car. The
next day Susan confronts Bob and slaps him
for stealing her book. Bob has Susan arrested
for slapping him. Susan sues Bob for damages
in the amount of the book and for maliciously
having her arrested. Claiming that she lied,
Bob sues Betty for defamation. Bob is anxious
to see Susan punished for slapping him. Which
of the following is true regarding action Bob
can take?
Multiple Choice
Bob can hire his own lawyer to prosecute Susan and send
her to jail but cannot bring a civil action if he prosecutes
criminally.
Bob can bring an additional civil action against Susan for
slapping him only if he loses the criminal case.
Bob can hire his own lawyer to prosecute Susan and send
her to jail, and Bob can also bring an additional civil
action against Susan for slapping him.
Bob's privately retalned lawyer may not prosecute Susan
because that is the government's job, but the privately
retalned lawyer can bring a civil action against Susan.
Bob's privately retained lawyer may not prosecute Susan
alone but may insist on jointly trying the criminal case
with the government lawyer.
12. The are a collection of all the laws in one
convenient location.
Multiple Choice
common laws
report holders
codified laws
classifications of law
codes
13. What establishes the fundamental
principles and rules by which the United States
and individual states are governed?
Multiple Choice
State bylaws
State constitutions only
Administrative rules
The U.S. Constitution only
Both the U.S. Constitution and the constitutions of each
state
14. Terrance is looking to find the law that
Georgia passed in regard to mud flaps required
on 18-wheel semi-trucks. Where would he look
to find the law?
Multiple Choice
The State Reporter
State codes
The United States Code
State mandate Laws
The State Code of Law Enforcement
15. Why is it important to understand
comparative law as a businessperson?
Multiple Choice
Businesses must abide by all treaties that are in place in
all countries.
Because of advances in technology and transportation,
trade with other countries is far easler today than It was
in past years.
The European Union mandates that all U.S. businesses be
certified in International law.
All business people must know all international laws to do
business effectively.
Federal law requires that businesses get federally
licensed to do business abroad.
16. If a computer store dumps waste behind its
building in violation of local, state, or federal
environmental regulations, the resulting
dispute focuses on law
Multiple Choice
private
preferential
black-letter
public
consensual
17. Kristin Richmond, one of the founders of
Revolution Foods, believes that the objective
of Revolution Foods is to do what in response
to Kraft's Lunchables?
Multiple Choice
To show that Kraft Lunchables are too high in fat and
sodium and therefore unhealthy
To prove that Revolution Foods products are more
ethically prepared and distributed
To show consumers that Kraft was falsely advertising its
calorle and fat contents
To dominate the market with healthier alternatives by
using only natural foods, and thereby force Kraft out of
the packaged lunch market
To provide higher-quality ingredients to cultivate healthier
life styles
18. Which of the following schools of
jurisprudence is most closely tied to the
pursuit of efficiency?
Multiple Choice
Legal realism
Comparative reallsm
Historical school
Cost-benefit analysis
Identification with the vulnerable
19. Assume the Securities and Exchange
Commission (SEC) prosecutes someone for
insider trading. That prosecution is an example
of
Multiple Choice
adherence to the Uniform Criminal Code
civil law
procedural law
criminal law
natural law
20. Louisville, Kentucky is debating a new
business ordinance that will address sidewalks
in its city. Members of the Louisville city
council do not need to concern themselves
with which of the following issues?
Multiple Choice
Building codes
Local zoning
Environmental standards
Federally-mandated restrictive covenants
Local taxes
