Exam (elaborations)
Business Law Ivy Tech Final Exam Questions With Complete Solutions
- Course
- Institution
Business Law Ivy Tech Final Exam Questions With Complete Solutions
[Show more]
Content preview
Business Law Ivy Tech Final Exam Questions WithComplete Solutions
A bilateral contract comes into existence at the moment
promises are exchanged. Correct Answers True
A copy must be exactly the same as the original to infringe a
copyright. Correct Answers False
A decision by the federal Environmental Protection Agency
(EPA) on the amount of carbon that can be emitted from a car's
exhaust system conflicts with a California state law. In this
situation, under the supremacy clause, Correct Answers The
EPA's decision takes precedence
A federal case typically originates in a state court. Correct
Answers False
A law that has any impact on religion is unconstitutional.
Correct Answers False
A licensor might grant a license allowing a trademark to be used
as part of a domain name. Correct Answers True
A partner may pursue his or her own interests without
automatically violating the partner's fiduciary duties to the
partnership and the other partners. Correct Answers True
A personal name is protected under trademark law if it acquires
a secondary meaning. Correct Answers True
,A sole proprietor pays personal and business income taxes on
the business's profits. Correct Answers False
A state court can dissolve a corporation for fraudulent conduct
by its directors. Correct Answers True
A transaction that lacks a bargained-for exchange lacks an
element of consideration. Correct Answers True
A&B Storage, Inc., signs a six-month lease to occupy a
warehouse. This is Correct Answers A fixed term tenancy
All aspects of software are protected by copyright law. Correct
Answers False
All powers not specifically delegated to the federal government
are reserved to the states. Correct Answers True
An "offer" to sell an item on an online auction site generally is
treated as an invitation to negotiate. Correct Answers True
An absolute defense against payment exists if the insurer can
show that the insured lacked an insurable interest. Correct
Answers True
An acceptance must be unequivocal. Correct Answers True
An offer may not be revoked before it is accepted. Correct
Answers False
, An offer must be practical to be effective. Correct Answers
False
An unenforceable contract is one that cannot be enforced
because of certain legal defenses against it. Correct Answers
True
Arbitration that is mandated by a court is often binding on the
parties. Correct Answers False
At a meeting of employees, Fuel Injection Design &
Manufacturing, Inc.'s managers announce the creation of a new
company-wide code of ethical conduct and the initiation of an ad
campaign to publicize the new code. They also say that any
employees who do not adhere to the code will be discharged.
The effectiveness of this code will be determined by Correct
Answers The commitment of company leadership to enforcing
the code
Avery files a suit against Beth, alleging that she failed to pay
him for two months' labor at her Choice Cheese Factory. Beth
denies the charge and claims that Avery breached their contract
to produce a certain quantity of cheeses and owes Beth damages
for the breach. Beth's claim is Correct Answers A counterclaim
Ballpark Sports field, Inc., files a suit against Concessions &
Tailgate Services. The document that informs Concessions &
Tailgate that it must file an answer within a specified time
period is Correct Answers The summons
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Classroom. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80202 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now