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BUSI 561 LEGAL ISSUES IN BUSINESS COMPLETED EXAM 2024
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BUSI 561 LEGAL ISSUES IN BUSINESS COMPLETED EXAM 2024
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BUSI 561 LEGAL ISSUES IN BUSINESS COMPLETEDEXAM 2024
Question 1 of 70
Which of the following best describes a "breach of contract"?
☐ Failure to negotiate in good faith
☑ Failure to perform a duty stipulated in a contract without lawful excuse
☐ Misrepresentation during contract formation
☐ An agreement to modify the original contract terms
Question 2 of 70
A company is sued for negligence after a customer slips and falls on a wet floor in the store. What must the plaintiff
prove to establish negligence?
☑ That the company had a duty of care, breached that duty, and caused harm to the plaintiff
☐ That the company intentionally caused harm to the plaintiff
☐ That the company failed to fulfill a contractual obligation
☐ That the store had no safety measures in place
Question 3 of 70
What is the primary purpose of antitrust laws?
☐ To regulate the pricing of goods and services
☑ To promote fair competition and prevent monopolies
☐ To protect intellectual property rights
☐ To establish minimum wages for employees
Question 4 of 70
In which of the following situations would a non-compete clause in an employment contract likely be enforceable?
☐ When it is overly broad and restricts employment in any field
☑ When it is reasonable in scope, duration, and geographic area
☐ When it applies to any employee who leaves the company
☐ When it is not disclosed to the employee before signing
Question 5 of 70
A business owner is concerned about protecting a new product invention. Which of the following legal protections
should the owner consider?
☐ Trademark
☐ Trade secret
, ☑ Patent
☐ Copyright
Question 6 of 70
What is the "doctrine of respondeat superior"?
☐ The principle that a business can be held liable for the actions of its employees when those actions occur within
the scope of employment
☐ The rule that employees must be compensated for overtime work
☑ The legal concept that an employer is responsible for the negligent actions of employees while they are
performing job duties
☐ The requirement that all business contracts must be written to be enforceable
Question 7 of 70
What constitutes insider trading?
☐ Buying or selling a company's stock based on information obtained from public sources
☐ Trading stocks based on market rumors
☑ Buying or selling securities based on non-public, material information about the company
☐ Making transactions based on general economic conditions
Question 8 of 70
Which of the following best defines "fraudulent misrepresentation"?
☐ Making a statement that is inaccurate but believed to be true
☑ Intentionally deceiving someone to induce them into a contract or transaction
☐ Providing misleading information due to a lack of knowledge
☐ Misunderstanding the terms of a contract
Question 9 of 70
In a contract dispute, what is "specific performance"?
☐ A legal remedy where a party is awarded damages for loss incurred
☑ A court order requiring a party to perform their contractual obligations
☐ An agreement to renegotiate the contract terms
☐ A settlement where the parties agree to dismiss the lawsuit
Question 10 of 70
What is a "fiduciary duty"?
☐ The responsibility of a business to comply with local regulations
☐ The duty to avoid conflicts of interest in business transactions
☑ The obligation to act in the best interest of another party, typically in a relationship of trust and confidence
☐ The requirement to disclose financial information to shareholders
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