Antitrust Law
If a company acquires too much market share in a particular industry, what area of law would be expected to have an impact on that company?
Securities Law
A company's sale of stock shares is mainly governed by which type of law?
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Antitrust Law - ANSWER- If a company acquires too much market share in a
particular industry, what area of law would be expected to have an impact on that
company?
Securities Law - ANSWER- A company's sale of stock shares is mainly governed
by which type of law?
regulatory - ANSWER- Another term for "administrative law" is
__________________ law.
false - ANSWER- The executive branch of the US government is responsible for
making laws. True or False?
all of the above - ANSWER- The doctrine of stare decisis: ?
-is based on common law tradition
-works with case law decided by judges
-creates consistency through the use of precedents
-all of the above
True - ANSWER- Valid federal laws take precedence over any conflicting state or
local laws. True or False?
True - ANSWER- The English common law system relied heavily on precedent.
True or False?
False - ANSWER- There are two major court systems in the United States the
federal court and the bankruptcy courts. True or False?
False - ANSWER- A statute of limitations (requiring a case to be brought within a
certain period of time) is an example of a substantive law. True or False?
,False - ANSWER- US Supreme Court justices are appointed by the president and
then affirmed every 4 years by a vote of the general population. True or False?
all of the above - ANSWER- Courts of limited jurisdiction include?
-US Tax Court
-US Bankruptcy Court
-Court of International Trade
-All of the above
compensate a party - ANSWER- Civil laws are designed to ___________________
for a loss.
False - ANSWER- Party A cannot bring a lawsuit against Party B unless Party B
has violated a statute. True or False?
equity - ANSWER- Specific performance is an example of a remedy at
____________.
-Equity
-Statute
-Admission
-All of the above
-parties to a lawsuit
State Statutes - ANSWER- Which of the following sources of law is created by a
legislative body?
-Constitutional Law
-State Statutes
-Case Law
-Common Law
-All of the above
prevention - ANSWER- A snack food company places a warning label that its
snacks may contains nuts and other allergens. This is an example of which
liability-reduction strategy?
false - ANSWER- OSHA - the Occupational Health and Safety Administration is an
example of a state administrative agency. True or False?
, false - ANSWER- Businesses that are organized in the United States are subject
to its laws, but not to the laws of other countries in which they do business. True
or False?
True - ANSWER- State courts of one state are not required to follow the legal
precedent established by the courts of another state. True or False?
executive - ANSWER- The ________ branch of the federal government has the
power to enforce the law.
-judicial
-legislative
-executive
-commissary
false - ANSWER- A sole proprietor must go through many levels of approval
before selling his or her business. True or False?
false - ANSWER- In a sole proprietorship, the business is considered a separate
legal entity from the proprietor. True or False?
true
(doing business as) - ANSWER- The designation of d.b.a. refers to the description
for a business that is operating under a trade name. True or False?
false
(fully and personally liable for business debts) - ANSWER- A sole proprietor has
limited personal liability. True or False?
true
(not a separate entity, so all taxes are reported and paid on individual owner's
return.) - ANSWER- A sole proprietorship does not does not pay taxes at the
business level. True or False?
true
(Share of profits indicates ownership as partners/a partnership) - ANSWER-
Receipt of a share of business profits is prima facie evidence of a general
partnership. True or False?
true
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