Legal Environment Of Business Exam 1

80 Questions | Total Attempts: 2388

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Legal Environment Of Business Exam 1

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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. 
    • 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. 
    • 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