Attorney-Client Privilege & Ethics in Business Law Exam Guide

Question 1 Correct 4.00 points out of 4.00 Flag question Question text Which of the following is true of the attorney-client privilege? Select one: a. The privilege does not apply until the attorney is actually retained by a client. b. An attorney is allowed to divulge confidential information communicated by a client in the course of seeking legal advice. c. A client must feel free to speak fully and honestly with his attorney if the judicial system is to function effectively. d. The privilege covers statements made in the presence of people other than the attorney or the attorney's subordinates. Question 2 Correct 4.00 points out of 4.00 Flag question Question text Which of the following statements is true of independent agencies? Select one: a. They are headed by the president. b. They are a part of the executive branch of the government. c. They are headed by a board or commission. d. They are given authority only to enforce rules made by the Congress. Question 3 Correct 4.00 points out of 4.00

Flag question Question text Natural law thinkers believe that: Select one: a. law and morality are not separate. b. there is no law superior to that promulgated by political institutions. c. all laws should have an environmental focus. d. natural law provides the level of predictability attained by legal positivism. Question 4 Correct 4.00 points out of 4.00 Flag question Question text _____ believe that decisions are often more attributable to the biases and moods of decision makers than they are to the formal legal rules that are supposed to determine the outcome. Select one: a. Legal realists b. Legal positivists c. Legal sociologists d. Natural law thinkers Question 5 Correct 4.00 points out of 4.00 Flag question Question text

The problem with looking at values that find wide acceptance as a guide to ethical corporate behavior is that: Select one: a. modern life holds a diversity of conflicting ethical views. b. most widely-accepted values are uninformed. c. companies will always look to profit maximization over anything else. d. culture has no effect on the ethical attitudes of business managers in today's global world. Question 6 Correct 4.00 points out of 4.00 Flag question Question text The new federal sentencing guidelines implemented as part of Sarbanes-Oxley: Select one: a. apply sanctions to both individual board members as well as the corporation itself. b. assign specific oversight responsibilities to directors. c. are designed to give the management immunity. d. call for special committees of the board to be assigned similar functions. Question 7 Correct 4.00 points out of 4.00 Flag question Question text Specific, reform-based proposals for changes in management structure include: Select one: a. government representation on the corporate board of directors. b. government representation in corporate executive management.

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c. licensing requirements for holding certain corporate positions. d. outsourcing corporate executive management positions. Question 8 Correct 4.00 points out of 4.00 Flag question Question text Which of the following is true of Organization for Economic Cooperation and Development (OECD) reports? Select one: a. They coordinate domestic and international policies of developing countries. b. They state that most codes of conduct tend to speak in positive terms, such as, a commitment to honesty. c. They were created to promote rules for the corporations based on the culture of the place. d. They assert that most enterprises' codes of conduct expressly publish policies that deal directly with corruption. Question 9 Correct 4.00 points out of 4.00 Flag question Question text Which of the following statements is true of state action? Select one: a. The constitutional checks on governmental power do not apply to the Congress. b. Private deprivation of individual liberties is permitted only if interference of state action is prohibited by statute. c. The Constitution protects an individual only against governmental activity, usually called state action.

d. State action is not involved if policies are mandated by federal law. Question 10 Incorrect 0.00 points out of 4.00 Flag question Question text In the United States, the power of the states to regulate is: Select one: a. exclusive in the domain of intrastate commerce. b. nonexistent over matters that affect interstate commerce. c. limited only by its own state constitution. d. exclusive in the domain of interstate commerce. Question 11 Correct 4.00 points out of 4.00 Flag question Question text Under strict scrutiny analysis, to demonstrate that a government action is constitutional, the government must demonstrate that: Select one: a. its action bears a rational relationship to its desired end. b. it is pursuing a compelling government interest. c. it is pursuing a governmental end in the most intrusive manner. d. there is no restriction on commercial speech. Question 12 Correct 4.00 points out of 4.00

Flag question Question text Which of the following is true about administrative agencies? Select one: a. They rarely have the power to both issue regulations and investigate when such regulations have been violated. b. They may make regulations that are advisory in nature, but cannot make regulations that have the force of law. c. They are, in theory, part of the executive branch of government, but they may also perform legislative and judicial functions. d. They never adjudicate disputes involving the statutes they are charged with enforcing. Question 13 Incorrect 0.00 points out of 4.00 Flag question Question text Which of the following is a correct statement regarding the tort of assault? Select one: a. Assault is putting another in apprehension of an eventual threat to his or her physical safety. b. The tort of assault is designed to protect people from threats of battery. c. Contact is necessary. d. Most courts say that "mere words are enough" for assault. Question 14 Correct 4.00 points out of 4.00 Flag question

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Question text Which of the following denotes an injury to a person's reputation? Select one: a. Disparagement b. Defamation c. Battery d. Malice Question 15 Correct 4.00 points out of 4.00 Flag question Question text Which of the following statements can be conditionally privileged in defamation suits? Select one: a. Statements by members of Congress on the floor of Congress b. Statements made in the furtherance of legitimate business interests c. Statements by participants in judicial proceedings d. Private statements between spouses Question 16 Correct 4.00 points out of 4.00 Flag question Question text Esther is upset with her roommate Julio because he refuses to clean up after himself. In a fit of rage, Esther tries to hit him on his head but misses. At the time, Julio is turned away from Esther and is completely unaware that she tried to hit him. Under these circumstances, _____. Select one: a. Esther is liable only for battery b. Esther is liable only for assault

c. Esther is liable neither for battery nor assault d. Esther is liable for both battery and assault Question 17 Correct 4.00 points out of 4.00 Flag question Question text The doctrine of _____ holds that even though the plaintiff was negligent, he or she can still recover if it can be shown that the defendant had the final opportunity to avoid the harm. Select one: a. last clear chance b. negligence per se c. comparative negligence d. strict liability Question 18 Correct 4.00 points out of 4.00 Flag question Question text Which of the following is true about the breach of duty? Select one: a. A person is guilty of breach of duty if he or she exposes another person to a foreseeable and unreasonable risk of harm. b. The defendant is liable for the plaintiff's injury even if the defendant exercised reasonable care. c. Only when the defendant's actions violate statutes, it is regarded as breach of duty. d. In a ruling, a breach of duty is considered as serious as a criminal offense. Question 19

Correct 4.00 points out of 4.00 Flag question Question text Under a pure comparative negligence system, plaintiffs _____. Select one: a. that share the fault with the defendant will not be able to recover b. are able to recover the portion of their losses not attributable to their fault c. are barred from recovery if they are as much or more at fault for their injuries as the defendant d. are able to recover for the full extent of losses from the defendant even if they were well aware of the risks involved Question 20 Correct 4.00 points out of 4.00 Flag question Question text To recover in a negligence suit, a plaintiff must prove that the: Select one: a. defendant had intent to injure the plaintiff and did so by a breach of duty. b. defendant's breach of duty was the proximate cause of the plaintiff's injuries. c. defendant's breach of duty might have indirectly caused the plaintiff injuries. d. defendant's actions did not violate any statutes. Question 21 Correct 4.00 points out of 4.00 Flag question

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Question text Penny had carelessly left marbles on the steps of her house. When Bijou came to visit, she broke her leg by slipping on those marbles and severely damaged her spine. While in the hospital recovering from her fall, her body being weak from all the antibiotics, readily contracted a viral infection. Under these circumstances, Penny is most likely to be liable: Select one: a. only for the damage to Bijou resulting from her fall. b. only for Bijou's viral infection. c. for injuries sustained by Bijou and also for the viral infection. d. for neither problems because Bijou should have been careful. Question 22 Correct 4.00 points out of 4.00 Flag question Question text Jose, a migrant worker who lived in a mobile home, died in a fire. The smoke alarm of the mobile home malfunctioned and did not go off. He was trapped inside while the fire engulfed him. The state had a law that required dwellings to be equipped with smoke detectors and that they be maintained. In this scenario, Jose's widow can sue the owner of the mobile home under _____. Select one: a. disparagement b. negligence c. libel d. causation Question 23 Correct 4.00 points out of 4.00 Flag question Question text

Emmy worked late nights at a convenience store. One night, Emmy discovered that the "emergency alert" security system was not working. The owner of the store told her that he would have the system repaired immediately. Nevertheless, a month went by before the system was repaired. In the meantime, the store was robbed while Emmy was working and, in the course of the robbery, the perpetrator broke Emmy's leg. Under these circumstances, if Emmy presses charges, she is most likely to recover from the store owner: Select one: a. for negligence because the harm was foreseeable. b. for battery because his inaction was the reason for her injury. c. for intentional tort. d. only for emotional distress. Question 24 Correct 4.00 points out of 4.00 Flag question Question text Ultrahazardous activities: Select one: a. are defined only by international statutes. b. are subject to strict liability. c. only create liability where the defendant fails to act as a reasonable person. d. only create liability when the defendant fails to exercise utmost care. Question 25 Correct 4.00 points out of 4.00 Flag question Question text Which of the following is true about the nature of licensing? Select one:

a. The person who owns the intellectual property is known as the licensee. b. Sometimes the licensee is permitted to sublicense all or part of its rights in the technology to a sublicensee. c. As a general rule, persons who buy from patent holders or their licensees are restricted by the original licensing contract. d. A customer who has bought a patented product cannot freely resell it without fear of violating the original patent. Question 26 Correct 4.00 points out of 4.00 Flag question Question text In the United States, the copyright period for works for hire: Select one: a. is 110 years from the first publication or 140 years from creation, whichever comes first. b. lasts for the life of the author plus 70 years. c. is 95 years from the first publication or 120 years from creation, whichever comes first. d. lasts for the life of the author plus 120 years. Question 27 Correct 4.00 points out of 4.00 Flag question Question text An American university professor derives a new formula which explains a fundamental principle of nature. In the United States, this formula: Select one: a. can be patented. b. cannot be patented.

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c. can be patented because it is novel. d. cannot be patented because it is not useful. Question 28 Correct 4.00 points out of 4.00 Flag question Question text Currently, the Unites States awards patent privileges based on a _____ system. Select one: a. first-to-contemplate b. first-to-use c. first-to-file d. first-to-invent Question 29 Correct 4.00 points out of 4.00 Flag question Question text A certain court receives an appeal by parties dissatisfied with the decision of a trial court. However, neither does it hear any witnesses nor does it review new facts about the case. The court discussed in the example is a(n) _____. Select one: a. municipal court b. inferior court c. appellate court d. justice of peace court Question 30 Correct 4.00 points out of 4.00

Flag question Question text District courts: Select one: a. only review the legal conclusions reached by lower federal courts. b. are the intermediate courts of the federal court system. c. have both fact-finding and law-finding functions. d. are specialized courts in the federal court system. Question 31 Correct 4.00 points out of 4.00 Flag question Question text The United States Supreme Court: Select one: a. decides all of the cases appealed to it. b. decides a majority of the cases appealed to it. c. decides only a small percentage of the cases appealed to it. d. defers to the decision of the court of appeals in the event of a concurring opinion. Question 32 Correct 4.00 points out of 4.00 Flag question Question text Writ of certiorari (cert.) may be granted when:

Select one: a. a person does not want to appeal to the Supreme Court. b. there have been conflicting decisions in similar cases by different courts of appeal. c. the Supreme Court has too many cases to be heard and has no time to take up a new case. d. a case has the validity of a federal statute in agreement. Question 33 Correct 4.00 points out of 4.00 Flag question Question text In a contract involving elements of both goods and services, a court will determine whether Article 2 of the Uniform Commercial Code (UCC) applies by: Select one: a. asking which element predominates in the contract. b. balancing the need to apply a uniform standard with the interest of justice. c. asking if the contract is barred by public policy. d. using the criteria of reasonableness. Question 34 Correct 4.00 points out of 4.00 Flag question Question text If Frank buys a used car from Honest Bob’s Used Cars, and Frank is a minor, the parties have a(n) _____ contract. Select one: a. unconscionable b. unenforceable c. voidable

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d. valid Question 35 Correct 4.00 points out of 4.00 Flag question Question text A promise exchanged for a promise is an example of: Select one: a. a bilateral contract. b. a unilateral contract. c. an implied contract. d. promissory estoppel. Question 36 Correct 4.00 points out of 4.00 Flag question Question text Lorenzo offered Ida a job at his new law firm. In anticipation, Ida quit her job at Mega Firm, bought a new computer, and invested in a new set of law books. Shortly before her anticipated first day at Lorenzo's firm, Lorenzo informed Ida that he had changed his mind, and no longer wanted her to work for him. Ida may recover under the doctrine of _____. Select one: a. unjust enrichment b. promissory estoppel c. unilateral contract d. express contract Question 37 Correct 4.00 points out of 4.00

Flag question Question text When an offeror does not specifically indicate what he is willing to do and what he wants the offeree to agree to do in return, his behavior will probably be classed as an: Select one: a. agreement. b. offer. c. invitation to negotiate. d. invitation to bid. Question 38 Correct 4.00 points out of 4.00 Flag question Question text Advertisements are regulated outside of contract law by the: Select one: a. Uniform Commercial Code (UCC). b. Restatement. c. Federal Trade Commission. d. United Nations Convention on Contracts for the International Sale of Goods (CISG). Question 39 Correct 4.00 points out of 4.00 Flag question Question text

With regard to the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the Uniform Commercial Code (UCC), which of the following statements is correct? Select one: a. Unlike the UCC, the CISG does not require that an offer be directed to a specific person or persons. b. Unlike the CISG, the UCC does not require that an offer be stated with sufficient definiteness. c. Unlike the UCC, the CISG does not consider an offer sufficiently definite if it lacks price terms. d. Unlike the CISG, the UCC does not require that an offer indicate that the person making the offer intends to be bound by the agreement. Question 40 Correct 4.00 points out of 4.00 Flag question Question text The Uniform Commercial Code (UCC) changes the common law rule by saying that a timely expression of acceptance creates a contract even if it includes terms that are different from those stated in the offer or states additional terms on points the offer did not address. This controversial rule is known as the _____. Select one: a. "Battle of the Forms" b. "Mirror Image" Rule c. Doctrine of Substantial Performance d. Last Clear Chance Doctrine Question 41 Correct 4.00 points out of 4.00 Flag question Question text

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Laura offered to sell Louis a tract of land. The offer was complete and certain as to all material terms. The offer stated that a telegraphed acceptance was required. Within a reasonable time, Louis telephoned Laura to accept. Which of the following is a true statement about this situation? Select one: a. Louis can use promissory estoppel to enforce a contract here. b. Louis's telephone call would be a good acceptance as this case involves a sale of goods. c. Louis has not accepted and there is no contract. d. Louis has accepted because a telephone call is a reasonable means of acceptance. Question 42 Correct 4.00 points out of 4.00 Flag question Question text With regard to the terms of a contract created by the exchange of nonconforming forms, the Uniform Commercial Code (UCC) states that if the parties are both _____, the additional terms in the offeree’s form are included in the agreement unless the offer _____ limited acceptance to its own terms, the new terms would materially alter the offer, and the offeror gives notice of objection to the new terms within _____ after receiving the acceptance. Select one: a. merchants; impliedly; thirty (30) days b. merchants; expressly; a reasonable time c. nonmerchants; impliedly; a reasonable time d. nonmerchants; expressly; thirty (30) days Question 43 Correct 4.00 points out of 4.00 Flag question Question text Which of the following statements is true about the modification of an existing contract under the Uniform Commercial Code?

Select one: a. Agreements to modify contracts for the sale of goods need consideration to be binding. b. If the price of the goods in a modified agreement is $500 or more, the modification is enforceable. c. There is no duty to agree to a modification. d. There is no legal prohibition against agreements that result from coercion. Question 44 Correct 4.00 points out of 4.00 Flag question Question text The requirement of _____ requires a promisee to pay the "price" the promisor asked for in order to gain the right to enforce the promisor’s promise. Select one: a. promissory estoppel b. equity c. consideration d. forbearance Question 45 Correct 4.00 points out of 4.00 Flag question Question text If Khalid agrees to sell his house to Lalita for $300,000 a property which is actually worth $410,000, _____. Select one: a. Lalita can recover damages for breach of contract if Khalid refuses to perform b. Lalita will be able to get a court order for the specific performance of Khalid's promise c. Khalid is not entitled to equitable remedies

d. Lalita cannot recover damages for breach of contract Question 46 Correct 4.00 points out of 4.00 Flag question Question text People who regain their mental capacity: Select one: a. cannot ratify their contracts if the contract involves real estate. b. can ratify their contracts. c. can ratify their contracts only if a guardian signs up along with the person. d. cannot ratify their contracts. Question 47 Correct 4.00 points out of 4.00 Flag question Question text _____ are generally defined as those things that are essential to a minor's continued existence and general welfare. Select one: a. Considerations b. Emancipations c. Forbearances d. Necessaries Question 48 Correct 4.00 points out of 4.00

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Flag question Question text _____ means that a general hearing was held on the person's mental competency, and the court determined that the person was of unsound mind and appointed a guardian or conservator of the person's estate. Select one: a. Emancipation b. Adjudication c. Incapacitation d. Ratification Question 49 Correct 4.00 points out of 4.00 Flag question Question text Which of the following statements is considered an actionable misrepresentation? Select one: a. A statement about the future b. A statement that amounts to puffing c. A statement concerning a present fact d. A statement of opinion Question 50 Correct 4.00 points out of 4.00 Flag question

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Question text Simon put $5,000 worth of stocks and bonds into an asset management account at Fido Investments. One month later, his account statement indicated that he had a balance of $5 million. Simon quickly withdrew this amount from his account and put it into a Swiss bank account. Can Fido rescind its payment of $5 million to Simon on the grounds of mistake? Select one: a. No, because Simon and Fido made a mutual mistake. b. Yes, because even though Fido was at fault, Simon was well aware of Fido's mistake in crediting the extra amount to his account. c. No, because Fido should have exercised reasonable care while crediting the amount to Simon's account. d. Yes, because Fido was a victim of fraud by execution.

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Mid Term Exam-BUS LAW

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