Business law mcq answer | Law homework help

1. (TCO 1) If a provision in the Florida state constitution conflicts with a provision in the U.S. Constitution… (Points: 5)
       [removed]neither provision applies.
       [removed]the provisions are balanced to reach a compromise.
       [removed]the state constitution takes precedence.
       [removed]The U.S. Constitution takes precedence.

2. (TCO 1) In Alpha v. Beta, a state supreme court held that a minor could cancel a contract for the sale of a car.  Now a trial court in the state is deciding Delta v. Gamma, a case with similar facts. Under the doctrine of stare decises, the trial court is likely to… (Points: 5)
       [removed]allow the minor to cancel the contract.
       [removed]disregard the previous case.
       [removed]order the minor to cancel the contract.
       [removed]require the minor to fulfill the contract.

3. (TCO 1) In a suit against Charles, the court rules that Diana is entitled to cancellation of a contract. This remedy is… (Points: 5)
       [removed]a decree of specific performance.
       [removed]a remedy “at law.”
       [removed]an injunction.
       [removed]rescission.

4. (TCO 1) Which of the following are “primary sources” of law? Check all that apply. (Points: 5)
       [removed]Constitutions (federal and state).
       [removed]”Common law.”
       [removed]Statutes (federal and state).
       [removed]Legal encyclopedias.
       [removed]Administrative rules and regulations.

[removed]5. (TCO 1) Ron, a driver for American Trucking Company, causes a five-car accident on the highway. If a suit for negligence is filed over Ron’s careless driving, Ron’s conduct will be measured by: (Points: 5)
       [removed]The duty of care exercised by the average driver in America today.
       [removed]The duty of care exercised by the reasonable driver.
       [removed]His overall driving record for the past five years.
       [removed]The number of accidents American Trucking Company, Inc. has had in the past five years.

6. (TCO 1) An Iowa state statute requires amusement parks to maintain equipment in specific condition for the protection of patrons. Jack’s Amusement Park fails to maintain its equipment as required. Kathy, a patron, is injured thereby. Jack’s Amusement Park has committed… (Points: 5)
       [removed]a dram shop act.
       [removed]a Good Samaritan act.
       [removed]negligence per se.
       [removed]res ipsa loquitur.

7. (TCO 1) The “Restatement Rule” states that accountants are subject to liability for negligence not only to their clients, but also to… (Points: 5)
       [removed]
Known users (or classes of users) of their reports or financial statements.
       [removed]
Foreseen users (or classes of users) of their reports or financial statements.
       [removed]
Both of the above.
       [removed]
Any user whose reliance on the reports or financial statements was reasonably foreseeable.

8. (TCO 2) In the event of a conflict between a federal statute and some other law, the law that would apply is… (Points: 5)
       [removed]The state statute, if it was enacted first.
       [removed]The U.S. Constitution, based on the Supremacy Clause.
       [removed]A decision of the “common law” that has been in effect for over 100 years.
       [removed]A state regulation because states have a right to regulate matters within its borders.

9. (TCO 2) A Metro City ordinance allows street vendors to operate only in certain areas, for the purpose of reducing traffic. A court would likely hold this ordinance to be… (Points: 5)
       [removed]constitutional, as a valid restriction on commercial speech.
       [removed]constitutional, under the Equal Protection Clause.
       [removed]unconstitutional, as an invalid restriction on commercial speech.
       [removed]unconstitutional, under the Equal Protection Clause.

10. (TCO 3) State “long arm” statutes allow courts to… (Points: 5)
       [removed]Exercise concurrent jurisdiction along with federal courts.
       [removed]Exercise personal jurisdiction over residents of that state.
       [removed]
Exercise personal jurisdiction over individuals and companies that are not residents of that state.
       [removed]Exercise subject matter jurisdiction in a “federal question” case.

11. (TCO 3) Paul, an Ohio resident, wants to sue Dan, a Tennessee resident, and Amy, a Virginia resident, over an automobile collision that occurred in Florida. Match the following… (Points: 5)
[removed]

Matching:

Answer

 

Potential Matches:

[removed]: An Ohio court has jurisdiction…

        

1: Over Dan only.
2: Over Amy only.
3: Over neither defendant.
4: Over both defendants, based on “minimum contacts.”

[removed]: A Florida court has jurisdiction…

        

[removed]: A Tennessee court has jurisdiction…

        

[removed]: A Virginia court has jurisdiction…

        

12. (TCO 4) A “quasi-contract” is… (Points: 5)
       [removed]An “implied in law” contract based on an oral agreement.
       [removed]An “implied in fact” contract.
       [removed]An “express” contract that is not in writing.
       [removed]A fictional contract imposed on parties to avoid the unjust enrichment of one party at the expense of another.

13. 

(TCO 4) Kate begins to perform, intending that the completion of her performance act as an acceptance of Lyle’s offer. Under the modern-day view, an offer that can only be accepted by completion of a specific act can…

(Points: 5)
       [removed]
be revoked any time after the offer is made.
       [removed]
be revoked any time before the completion of performance.
       [removed]
not be revoked once performance has substantially begun.
       [removed]
not be revoked once the promisee indicates he or she will perform.

14. 

(TCO 4) Larry says to Nora, “I would like to sell my baseball card collection to a buyer who can really appreciate it.  What do you think?” This statement is not an offer because it…

(Points: 5)
       [removed]
does not describe the subject matter specifically.
       [removed]
does not mention a price term.
       [removed]
merely expresses an opinion.
       [removed]
merely invites Nora to negotiate terms.

15. 

(TCO 4)  Kathy and Larry enter into an oral contract under which Larry agrees to work for Kathy’s construction firm for eighteen months. This contract is…   

 

(Points: 5)
       [removed]
enforceable by Kathy only.
       [removed]
enforceable by Larry only.
       [removed]
enforceable by either party.
       [removed]
not enforceable.

16. (TCO 4) Brittany is a real estate broker licensed only in California. Real estate license requirements exist to insure that brokers know the law in the state where a sale occurs. Brittany enters into a contract to represent a seller of real estate in Nevada. The seller… (Points: 5)
       [removed]must pay Brittany her commission if the sale is completed.
       [removed]may refuse to pay the commission if the sale is completed, because Brittany was not licensed in Nevada.
       [removed]must pay Brittany’s marketing expenses if the sale does not go through.
       [removed]may refuse to pay the commission only if the contract is rescinded before the sale is completed.

17. (TCO 4) Contracts for works of art, medical or dental work, and tailoring are considered to be personal service contracts, in which performance must be personally performed by: (Points: 5)
       [removed]The party stated in the contract.
       [removed]Anyone selected by the party stated in the contract.
       [removed]Either of the above.
       [removed]Anyone selected by a disinterested third party.

18. (TCO 4) Ace Builders, Inc. substantially performs its contract with Best Office Company to refurbish an old building, but is unable to finish the job. Ace must… (Points: 5)
       [removed]do nothing more.
       [removed]find a subcontractor to complete the contract.
       [removed]forfeit the entire price of the contract, paying nothing to Best.
       [removed]pay the difference between substantial and complete performance.

19. (TCO 4) Which of the following statements about discharge of a contract are true? Check all that apply. (Points: 5)
       [removed]Contract duties can be discharged, without being performed, if both parties agree.
       [removed]Contract duties are discharged by subjective impossibility.
       [removed]Contract duties are discharged if a condition precedent never occurs.
       [removed]Contract duties are discharged only if both parties fully perform.

[removed]20. (TCO 5) Under Article 2 of the UCC, when an offer does not specify a means of acceptance, how may it be accepted? (Points: 5)
       [removed]Only in writing, signed by the offeree.
       [removed]By certified mail, return receipt requested.
       [removed]By any means reasonable under the circumstances.
       [removed]Only by those means by which the parties have contracted in the past.

21. (TCO 5) Amy and Builders Corporation enter into a contract in which Amy agrees to deliver cement to Builders at a construction site. They neglect to include a price in the agreement. Under the UCC Article 2, a court will… (Points: 5)
       [removed]
determine a reasonable price for the cement and insert it into the contract.
       [removed]
leave the parties in the position in which it found them.
       [removed]
refuse to enforce the agreement.
       [removed]
select the lowest quoted price for cement and insert it into the contract.

22. (TCO 5) Which of the following shrink-wrap or click-on agreements would a court be willing to enforce? Check all that apply.  (Points: 5)
       [removed]A buyer using an online order form fails to object to terms after reading them, and places an order.
       [removed]A buyer using an online order form objects to terms after reading them, and does not complete the order process.
       [removed]A buyer using an online order form places and order after doing so is shown terms of use.
       [removed]A buyer using an online order form fails to read the terms available before placing an order.

[removed]23. (TCO 6) The Federal Communications Commission (FCC) plans to adopt new regulations to govern Internet-based phone services. Before drafting the regulations, the FCC may not (Points: 5)
       [removed]
Amend the Administrative Procedures Act to streamline proceedings.
       [removed]
Hold hearings to acquire facts pertinent to the proposed rules.
       [removed]
Order providers to provide certain documents.
       [removed]
Solicit testimony from interest groups and consumers.

24. (TCO 6) In reviewing an administrative agency decision, which of the following factors may an appeals court consider? Check all that apply. (Points: 5)
       [removed]Whether an agency has exceeded its authority under the legislation that created the agency.
       [removed]Whether the agency has violated any constitutional provisions.
       [removed]Whether the agency’s actions considered all of the arguments raised by the party making the appeal.
       [removed]Whether the agency’s actions were arbitrary, capricious or an abuse of discretion.

[removed]25. (TCO 7) Copy Products, Inc. uses, in its ads, a trademark that is similar, but not identical, to a distinctive mark used by Durable Goods, Inc. Copy’s use of the mark constitutes trademark infringement… (Points: 5)
       [removed]
only if consumers are confused.
       [removed]
only if Copy and Durable are competitors.
       [removed]
only if consumers are confused, and Copy and Durable are competitors.
       [removed]
regardless of whether consumers are confused or Copy and Durable are competitors.

26. (TCO 7) National Consumer Company (NCC) uses a trademark that neither NCC nor anyone else has registered with the government. Under federal trademark law… (Points: 5)
       [removed]
NCC may register the mark for protection.
       [removed]
NCC may not register a mark that has been used in commerce.
       [removed]
NCC has committed trademark infringement.
       [removed]
NCC must postpone registration until the mark is out of use for six months.

27. (TCO 7) Which of the following is an example of “trademark dilution?” (Points: 5)
       [removed]Registering a domain name that is confusingly similar to someone else’s.
       [removed]Spamming under another website’s logo, such as yahoo or hotmail.
       [removed]Trademarks that are immoral, scandalous or disparaging.
       [removed]Generic terms that refer to an entire class of products.

28. (TCO 8) Direct 2U, Inc. floods the e-mail boxes of the employees of Eagle Corporation with unsolicited ads, to the extent that the employees cannot e-mail each other.  Direct 2U has committed the tort of… (Points: 5)
       [removed]
appropriation.
       [removed]
disparagement of property.
       [removed]
trespass to personal property.
       [removed]
wrongful interference with a business relationship.

29. (TCO 9) Quick Office Supplies Company requires its customers to pay by check. Ron, a Quick driver, tells customers on his route that they can pay him with cash.  When Quick learns of Ron’s collections, it takes no action to stop it. Ron steals some of the cash. Quick may be liable under the doc­trine of… (Points: 5)
       [removed]
apparent authority.
       [removed]
equal authority.
       [removed]
express authority.
       [removed]
implied authority.

30. (TCO 9) Jay holds himself out as possessing special accounting skills. As an agent, he must exercise the degree of skill or care expected of… (Points: 5)
       [removed]
an average person.
       [removed]
a person having those skills.
       [removed]
a reasonable person.
       [removed]
the principal.







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