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Business Law Ivy Tech Final Exam Questions With Complete Solutions
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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
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