40 MUTIPLE CHOICE WORDS

Question 1 

  1. Connie, the president of a company that makes paper,      has a new interest in the environment. She recently went to a seminar on      environmental dangers and has decided to take steps to clean things up.      She started at home and was also committed to change things at work.      Connie had to face the fact that her company has been cheating and is not      in compliance with applicable environmental regulations due to dumping in      a nearby river. Her company has never been cited, however, because it employs      a very large number of people in the community, including the mayor’s wife      and the chief-of-police’s brother.

    On her mission to clean things up, Connie has decided to go even further      than the law requires and install the very latest environmental protections.      When she announced her plan, the chair of the company’s board of      directors, Brooke, had a meeting with Connie. Brooke told Connie to      analyze the situation carefully because the cost of the additional      equipment would mean no dividend to shareholders and no raise for      employees. Furthermore, Brooke told Connie that installing all of the new      equipment would result in higher prices for the company’s paper products      and could bankrupt the company because of foreign competition. Brooke      hinted that Connie could be fired if she persisted. Brooke suggested that      Connie just be concerned with a minimal standard of ethics. Which of the      following would be a stakeholder in the company?

 

The community only

 

The shareholders only

 

Future generations only

 

The community and shareholders   only

 

The community, shareholders, and   future generations

2 points

Question 2 

  1. Which of the following is TRUE regarding the liability      in tort of employers for the actions of employees and independent      contractors?

 

Employers are generally liable in   tort for the actions of their employees, while they are generally not liable   for the actions of independent contractors.

 

Employers are generally liable in   tort for the actions of independent contractors, while they are generally not   liable for the actions of employees.

 

Employers are not generally liable   in tort for the actions of independent contractors or for the actions of   employees.

 

Employers are generally liable in   tort for the actions of independent contractors and also for the actions of   employees.

 

Employers are generally liable in   tort for the actions of independent contractors and the actions of employees,   but only if the employer has agreed to be liable in a written contract with   the employee or independent contractor.

2 points

Question 3 

  1. Which of the following was the result on appeal in the      case of Webster v. Blue Ship Tea Room Inc.—the case in which the      plaintiff sued after getting a bone caught in her throat while eating clam      chowder?

 

That the plaintiff could recover   based upon the implied warranty of merchantability

 

That the plaintiff could recover   based upon the implied warranty of fitness for a particular purpose

 

That the plaintiff could recover   based on an express warranty

 

That the plaintiff could not   recover because she waited too long in which to sue and also because she was   not the direct purchaser of the fish

 

That the plaintiff could not   recover for reasons including that the bone should not have been unexpected

2 points

Question 4 

  1. A partnership in which the partners divide      profits and management responsibilities and share unlimited personal      liability for the partnership’s debt is called a __________.

 

general partnership

 

limited partnership

 

limited liability partnership

 

corporation

 

limited liability company

2 points

Question 5 

  1. A person who contracts with another to do something for      him or her but who is not controlled by the other nor subject to the      other’s right to control with respect to his or her physical conduct in      the performance of the undertaking is a(n) __________.

 

employee

 

independent contractor

 

authorized contractor

 

task-specific contractor

 

partial contractor

2 points

Question 6 

  1. Which of the following occurs when a party to a      contract transfers his or her rights to a contract to a third party?

 

Assignment

 

Referral

 

Disgorgement

 

Privity

 

Transfer

2 points

Question 7 

  1. Penny is investigating what she needs to do to legally      to open a dog grooming business in her city. Which of the following would      govern the business?

 

State statutes

 

City ordinances

 

Model laws

 

State statutes, city ordinances,   and model laws

 

State statutes and city   ordinances, but not model laws

2 points

Question 8 

  1. Sally agrees to mow Paul’s yard for $300 for the      summer. Paul wishes to assign the contract to his grandmother. Sally      objects because Paul’s yard is very small while the grandmother’s yard is      over an acre. Which of the following is the correct legal outcome for the dispute      between Sally and Paul?

 

Sally will win because Paul’s   attempted assignment would increase the duties to which she agreed.

 

Sally will win because all   assignments are invalid without the obligor’s consent.

 

Sally will win unless Paul paid   her the $300 in advance in which case Paul will win.

 

Paul will win because he may   validly assign the contract without Sally’s consent.

 

Paul will win so long as he tells   Sally about the assignment prior to the time she begins any performance   whatsoever.

2 points

Question 9 

  1. Which of the following is FALSE regarding a sole proprietorship?

 

A sole proprietorship requires few   legal formalities.

 

A sole proprietor has complete   control of the management of the business.

 

The sole proprietor keeps all the   profits from the business.

 

Profits are taxed as the personal   income of the sole proprietor.

 

A sole proprietor is not   personally liable for obligations of the business.

2 points

Question 10 

  1. If the plaintiff wants a court order that requires the      defendant to fulfill the terms of the contract, the plaintiff is seeking      __________.

 

specific performance

 

directive

 

instructional edict

 

demand

 

injunction

2 points

Question 11 

  1. Gretchen offers $100 to anyone who can return her lost      dog, Sparky. Haley returns the dog and requests the money. Gretchen says      that there is no binding contract. Which of the following is TRUE      regarding Gretchen’s statement?

 

Gretchen is incorrect because   there is a binding bilateral contract.

 

Gretchen is incorrect because   there is a binding unilateral contract that Haley accepted by performing.

 

Gretchen is correct because there   is no binding bilateral contract.

 

Gretchen is correct because there   is no binding unilateral contract.

 

Gretchen is correct because Haley   acted incorrectly by her manner of attempted acceptance.

2 points

Question 12 

  1. Stewart, the owner of ABC Construction, agreed with      Joan, the owner of XYZ Hotel, that he would complete renovations on her      upscale hotel on the beach in Florida by October 1. The amount due to      Stewart under the contract was $250,000. The contract contained a clause      by which Stewart would pay Joan $50,000 for each day he was late on      completing the project. Unfortunately, a strong earthquake shook the area,      and while the earthquake did not damage the hotel itself, Stewart      encountered significant difficulty in getting supplies due to the high      demand for building material following the earthquake. Because he believed      that traveling, himself, to other states to obtain supplies would be      prohibitively expensive, he delayed the project for two weeks while      waiting for local stores to have sufficient supplies available. Stewart      finished renovations six days late. Joan told Stewart that she owed him      nothing but that he owed her $50,000. Stewart told Joan that he was suing      for the entire $250,000 because it was not his fault the earthquake      delayed matters. Which of the following is the appropriate term for the      agreement that Stewart would pay Joan $50,000 for each day he was late in      completion?

 

Mitigated damages term

 

Liquidated damages clause

 

Stipulated damages

 

Acknowledged damages clause

 

Approved and acknowledged damages   clause

2 points

Question 13 

  1. Which of the following are the two primary kinds of      performance?

 

Partial and significant

 

Partial and complete

 

Partial and substantial

 

Complete and substantial

 

Complete and significant

2 points

Question 14 

  1. The “public disclosure” test is also known as      the __________ test.

 

television

 

Powell

 

self-conscious

 

golden

 

primary

2 points

Question 15 

  1. Which of the following is FALSE regarding a limited      liability partnership?

 

A limited liability partnership is   considered a separate legal entity.

 

Limited liability partnerships are   fairly new.

 

The business name must include   “Limited Liability Partnership” or an abbreviation in the name.

 

The parties must file a form with   the secretary of the state to create a limited liability partnership.

 

Each partner pays taxes on his or   her share of the income of the business.

2 points

Question 16 

  1. Positive abstractions that capture our sense of what is      good or desirable are __________.

 

ethical ideas

 

values

 

conscience demands

 

desirable principles

 

action goals

2 points

Question 17 

  1. Which of the following is TRUE regarding the      mirror-image rule and the…

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