I need help with business law exam answers attached file

The primary purpose of a mediator is to facilitate settlement of a dispute between the parties.

True

False

The two most common types of bankruptcy filed by business are a reorganization bankruptcy and a liquidating bankruptcy.

True

False

Section 402A of the Uniform Commercial Code governs the law of Strict Liability in a commercial setting.

True

False

Which of the following types of law are intended specifically to provide a system of compensation for injuries done by virtue of conduct deemed by the law to be inappropriate?

A) Substantive Law

B) Criminal Law

C) Procedural Law

D) Civil Law

The three primary theories of Product Liability are tortuous negligence, strict liability and contract warranty.

True

False

Burglary is the crime of stealing something from somebody.s house or building at night.

True

False

Litigation involving criminal law are typically initiated by legal counsel for the victim of the crime.

True

False

An automatic stay is in force upon filing of a bankruptcy and acts to stop a creditor from repossessing any collateral.

True

False

Courts represent the primary mechanism for the enforcement of law in the United States.

True

False

The concept of .observing corporate formalities. relates to failure to observe GAAP when reporting profit and loss to the Securities and Exchange Commission.

True

False

Baseball is specifically exempted from coverage under the Sherman Act, but not so with regard to Football.

True

False

Which of the following is not one of the general categories of torts?

A) Strict liability

C) Conversion

C) Negligence

D) Intentional.

The law of contracts in most states is entirely a matter of Common Law.

True

False

What differs in a defamation suit when the plaintiff is a public figure, as opposed to when the plaintiff is not a public figure?

A) The plaintiff need not prove actual injury to the reputation.-

B) The plaintiff can recover even when the statement is a mere opinion

C) The plaintiff must prove that the statement was made with malice

D) The plaintiff must prove that the statement was made in writing.

Laws of the United States are enforceable within foreign countries so long as United States companies or citizens are involved as one of the parties.

True

False

Any case in the United States may be automatically appealed directly to the United States Supreme Court if one of the litigants is unsatisfied with the outcome; the Supreme Court always has the final say in any litigation in the country.

True

False

C Corporations and S Corporations technically differ only with regard to the treatment of their net income with regard to sales taxation as administered by the International Revenue Service.

True

False

Which of the following terms pertains to the admission of evidence at a trial:

A) Eminent Domain

B) Full Faith and Credit

C) Probative Value

D) Revocation of Offer

Administrative Agencies often establish regulations pursuant to the legislative power delegated to the agencies by Congress.

True

False

When a jury is empanelled in a state appellate court, they must decide only the correct rule of law as applied to the facts already determined at the trial court level.

True

False

There is a single comprehensive court system in the United States, whereby all state and federal courts are administered and supervised by the Judicial Branch of the federal government.

True

False

Administrative Agencies often establish ordinances pursuant to the judicial power delegated to the agencies by Congress.

True

False

The elements required to create any contract are offer, acceptance, consideration and legality.

True

False

Which of the following sources of law does not come specifically from one of the three branches of the federal government?

A) Statutes

B) Regulations

C) Constitution

D) Common Law

In some instances, it is possible for an individual to go into and through a bankruptcy proceeding and still keep a home worth several million dollars.

True

False

The United States District Court System is divided into 13.circuits. with District Courts in each circuit covering trial court needs in all the states within the states that are a part of that circuit.

True

False

If a house is burning by virtue of the negligence of a defendant, and the plaintiff rushes back into the burning house after escaping in order to save priceless family heirlooms, the defendant is nonetheless liable for damages because he or she should have foreseen the possibility that such heirlooms needed to be

True

False

What does an offeree use to simply indicate that she is not interested in an offer?

A) Revocation

B) Rejection

C) Promissory estoppel

D) Option

Mens Rea and Actus Reus are both required to support a finding of criminal guilt.

True

False

Because they involve agreements between the United States and other countries, treaties are considered to be dominant over the Constitution, which controls all legal matters with the United States but is inapplicable outside of the United States.

True

False

A finding of an illegal monopoly pursuant to Section 1 of the Clayton Act requires overwhelming power, combination, and malice.

True

False

The Consolidated Omnibus Budget Reconciliation Act contains important provisions that protect workers in certain critical regards.

True

False

The initials 10K, 10Q, 13D and 8K represent business terms most closely associated with which of the following areas of law.

A) Securities Regulation

B) Antitrust

C) Employee Benefits

D) Federal Contracts

In a negligence claim, if a defendant fails to establish proximate cause, he or she might still be able to recover punitive damages against the plaintiff if it is established that malice is involved.

True

False

Adverse Possession relates to the crime of asserting control over the property of another by use of deception.

True

False

Proxy statements are provided to shareholders by a corporation before a shareholders. meeting or any other vote by shareholders on a corporate matter.

True

False

Justin is late to class one morning. As he rushes across campus, he pushes Brittany out of his path. She falls and breaks her wrist. Brittany can

A) Not sue Justin for assault because he actually touched her

B) Not sue Justin for assault because he did not intend to make her fall

C) Sue Justin for assault, but only if she can convince the prosecutor to file charges.

D) Sue Justin for battery because he deliberately pushed her.

Which of the following terms is used to describe ownership interests in real property?

A) Easement

B) Fee Simple Illusory

C) Periodic Tenancy for Years

D) Fee Simple

Criminal violations usually involve some conduct that is prohibited by the Constitution or by treaties which have been properly ratified by the United States Senate.

True

False

The meaning of the U.S. Constitution (together with its 37 Amendments) may vary significantly from state to state.

True

False