Legal Environment Of Business Exam Quiz

80 Questions | Total Attempts: 2721

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Legal Environment Of Business Exam Quiz

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Questions and Answers
  • 1. 
    After a decision has been rendered in a case, neither party may file an appeal.
    • A. 

      True

    • B. 

      False

  • 2. 
    Mathias and Dunwitty sign a contract. The contract contains a clause that provides if a dispute arises, they will submit the dispute to arbitration. A dispute arises and Mathias files a suit against Dunwitty. Under normal circumstances, the court would
    • A. 

      Refuse to hear the case on the basis that self-help is the sole remedy in such cases

    • B. 

      Hear the suit and then compel Mathias to arbitrate

    • C. 

      Compel Mathias to arbitrate

    • D. 

      Order relief under summary judgment without hearing the suit or compelling Mathias to arbitrate

  • 3. 
    To have standing to sue, a party must have been harmed or have been threatened with harm by the action about which he or she complains.
    • A. 

      True

    • B. 

      False

  • 4. 
    Cyberspace is its own jurisdiction.
    • A. 

      True

    • B. 

      False

  • 5. 
    Lulu files a suit against Carl Jr. befoer going to trial, the parties meet, with thier attorneys present to represent them, to try to resolve their dispute without the involvement of a third party. This is--
    • A. 

      Arbitration

    • B. 

      Litigation

    • C. 

      Mediation

    • D. 

      Negotiation

    • E. 

      Not possible

  • 6. 
    Carl files a suit against Dina, over a contract between them. Before the trial begins, Carl can obtain from Dina--
    • A. 

      Access to related documents in Dina's possession

    • B. 

      Accurate information about Dina's privileged material

    • C. 

      An admission of the truth of matters not related to the trial

    • D. 

      All of the above

  • 7. 
    A motion for summary judgment may be supported with sworn statements and other materials.
    • A. 

      True

    • B. 

      False

  • 8. 
    An arbitrator's mistake in a finding of fact or a conclusion of law is the only basis for setting aside an award.
    • A. 

      True

    • B. 

      False

  • 9. 
    For purposes of diversity of citizenship, a corporation is a citizen only of the state in which it is incorporated.
    • A. 

      True

    • B. 

      False

  • 10. 
    An arbitrator can never render a legally binding decision.
    • A. 

      True

    • B. 

      False

  • 11. 
    A long-arm stature is a state law that permits courts to obtain jurisdiction over out-of-state defendants.
    • A. 

      True

    • B. 

      False

  • 12. 
    Doug files a suit in Ohio against Beth over the ownership of a boat docked in Ohio. Doug and Beth are residents of New York. Beth could ask for a change of venue on the ground that New York
    • A. 

      Has a sufficient stake in the matter

    • B. 

      Has jurisdiction

    • C. 

      Has sufficient minimum contacts with the parties

    • D. 

      Is a more convenient location to hold the trial

  • 13. 
    Hermoine and Marvin have a long standing relationship that they would prefer to maintain, even though they are currently divided over how best to resolve a dispute concerning a delivery of grain. To minimize the possibility that this dispute will undermine their relationship, Hermione and Marvin should probably hire the services of
    • A. 

      A negotiator

    • B. 

      A mediator

    • C. 

      An arbitrator

    • D. 

      An enforcer

    • E. 

      A finagler

  • 14. 
    The courts act as a check on the other branches of government
    • A. 

      True

    • B. 

      False

  • 15. 
    Carol files a suit against Delta Hog Trap Corporation. Delta responds that it appears from the pleadings the parties do not dispute the facts and the only question is how the law applies to those facts. Delta supports this response with witnesses' sworn statements. This is --
    • A. 

      A counterclaim

    • B. 

      A motion for judgment on the pleadings

    • C. 

      A motion for summary judgment

    • D. 

      A motion to dismiss

    • E. 

      A motion in limine

  • 16. 
    State courts are independent of federal courts.
    • A. 

      True

    • B. 

      False

  • 17. 
    The US Supreme Court has appellate authority over all cases decided in the state courts.
    • A. 

      True

    • B. 

      False

  • 18. 
    • A. 

      Dismissed before the parties enter a courtroom

    • B. 

      Settled before the parties enter a courtroom

    • C. 

      Dismissed or settled before the parties enter a courtroom

    • D. 

      Resolved only after a trial

  • 19. 
    Jan and Kyle sign a contract that provides if a dispute arises, they will submit to arbitration. A dispute arises, but before it goes to arbitration, Jan files a suit against Kyle. The court will likely --
    • A. 

      Hear the suit and then order the parties to arbitrate

    • B. 

      Hear the suit without ordering the parties to arbitrate

    • C. 

      Order relief without hearing the suit or compelling the parties to arbitrate

    • D. 

      Order the parties to arbitrate

  • 20. 
    The internet has no effect on a court's assertion of personal jurisdiction.
    • A. 

      True

    • B. 

      False

  • 21. 
    Holly, a lawyer on the staff of International Roadkill Group, applies the utilitarian theory of ehtics in business contexts. Utilitarianism focuses on
    • A. 

      Moral values

    • B. 

      Religious beliefs

    • C. 

      The consequences of an action

    • D. 

      The nature of an action

    • E. 

      None of the foregoing

  • 22. 
    • A. 

      True

    • B. 

      False

  • 23. 
    In business negtiations, Beth, the CEO of Design Outhouses, Inc., follows "The Golden Rule," which
    • A. 

      Encourages the accumulation of as much personal wealth as possible

    • B. 

      Mandates compassionate treatment of others in all situations

    • C. 

      Permits taking advantage of others in financial terms

    • D. 

      Requires an increase of business profits over a certain period

  • 24. 
    The minimal acceptable standard for ethical behavior is compliance with the law.
    • A. 

      True

    • B. 

      False

  • 25. 
    To assist in detecting illegal bribes, Eagles & Buzzards Expediters, Inc., and all U.S. companies, must --
    • A. 

      Conceal financial records that reveal past bribes

    • B. 

      Keep records that "accurately and fairly" reflect financial activities

    • C. 

      Make bribes through third parties rather than directly to officials

    • D. 

      Permit payments to foreign officials that are unlawful in that country

    • E. 

      Maximize profits however and whenever possible