Homework answers / question archive / 1)

1)

Law

Share With

---

1).Rules are necessary for the function of law. Commercial rules governing trade began almost 4,000 years ago in the Code of Hammurabi, and later to the Roman Empire. Merchants began using rules that governed trade issues such as sales, payment, insurance and shipment. These rules were known as the lex mercatoria, or __________.

 

A. Rule of Law.

B. Respondeat Superior.   

C. UCC

D. Law Merchant.

 

2.Bob works for ABC corp and a heavy storm is on its way. A tornado is likely and the windows are not secure. The tornado will shatter the windows. Bill, Bob’s boss is unable to be contacted. Bob goes to the store and buys $500 worth of plywood to protect the windows of the property. Bob acted beyond the authority granted by principal. Under agency by operation of law, Bob ________.

A.      Was correct in his decision and must be compensated.

B.      Was incorrect in his decision and can be fired.

C.      Must pay $500 to Bill.

D.      Both B & C.

 

3.Darrel works for ABC Company. He thinks ABC Company has discriminated against him and files to the EEOC. The EEOC approves his request with a “Right-To-Sue” letter. Darrel now has _____ days to file his lawsuit.

A.      60 Days.

B.      180 Days.

C.      90 Days.

D.      360 Days.

 

 

4.Katie works for an accounting firm. Her boss Jacob, continues to make advances to her. Jacob steadily insists that he will give Katie a raise if she sends provocative pictures to him. These requests until Jacob gets more severe and threatens to fire Katie if she doesn’t send the pictures. This is an example of__________.(Tamera Fobbs)

A.                Hostile environment

B.    Quid pro quo discrimination

C.                 Undue hardship

D.                Same sex discrimination

 

 

 

5.A person or company who agrees to act for, or in the place of, another person or company is ______________. (Tamera Fobbs)

A.    Agent

B.                 Principal

C.                 Agency

D.                Employer

 

6.A file must be filed to EEOC within ___ days of the discriminatory action in order to be investigated by EEOC. (Tamera Fobbs)

A.                150

B.                 200

C.                 365

D.    180

 

7. _____________ states that employers must provide employees a workplace “free from recognized hazards that are causing or are likely to cause death or serious physical harm”

A.         Uniform Commercial Code (UCC)

B.         Drug-Free Workplace Act

C.      Occupational Safety and Health Act (OSHA)

D.        Employee Substance Abuse Policies

 

8.If the agency determines that a violation may have occurred, it can offer to mediate a settlement, sometimes the agency brings suit itself, but in most cases that proceed, the agency issues a __________ that can be used in proceeding the court.

A.         Compliance process

B.      Right to Sue Letter

C.        Business necessity

D.        Affirmative Action as a Remedy

 

9.When employees are required to sign an agreement that they will not recruit fellow employees for another company when they leave their current place of employment, it is called _________.

A.      Anti-raiding covenants

B.         Non-compete Agreement

C.        Exculpatory agreement

D.      Wrongful Discharge

 

 

 

 

 

10.The ______ of partnership affairs involves completing any unfinished business and then collecting and distributing the partnership's assets.

A. Dissolution

B. Winding up

C. Limited partnership

D. Corporate charters

 

11.The ______ issues or creates the document that request payment, probably from a bank, but it could be from another party.

A. Drawer

B. Payee

C. Drawee

D. Beneficiary

 

12.To protect its interests, the lender extending credit to a business obtains a security interest, sometimes called a ______ .

A. Tangible property

B. Floating lien

C. Interest in inventory

D. Purchase money security interest

 

13.What does the UCC say about the formation of a sales contract?
a.         A contract cannot be formed until an offer is clearly accepted.
b.         If there is intent to enter into an agreement, a contract exists.
c.         If terms and conditions are unclear or missing, there is no basis for a contract.
d.         An offer can be revoked any time before acceptance.

14.What protects a board of directors from being sued by shareholders for missed profit opportunities?
a.         Fiduciary duty
b.         Operating agreement
c.         Business judgment rule
d.         Double taxation

16.Who grants property tax-exemptions to nonprofit organizations?
a.         Local tax appraisal district
b.         Texas comptroller
c.         Secretary of State
d.         Texas Governor

 

 17.Ann pretends to be Anna and obtains payment by check payable to Ann of a debt Norman owed Anna. What person suffers the loss if Ann cashes the check at Local Grocery Store?

A) Local Grocery

B) Ann

C) Anna

D) Norman

 

 18.Jackson Enterprises files for bankruptcy under Chapter 11. The business is wholly owned by Jackson who spent massive amounts of company money on elaborate "business trips" that appear to be vacations. What actions may the creditors take?

A) Request a trustee be appointed to conduct an audit and perform other tasks.

B) Nothing, except request the proceedings be converted to a Chapter 7.

C) Require Jackson to post a performance bond.

D) Require criminal fraud charges be brought against Jackson by the Bankruptcy Courtsv

 

19. Luis incorporates ABC Co. in West Virginia but wants to transact business in Ohio and Virginia also. ABC Co. must obtain a certificate of authority from _____.

A) West Virginia

B) Ohio only

C) Ohio and Virginia only

D) West Virginia, Ohio, and Virginia

 

 

20.Abe and Bob have a contract for Abe to sell his magazine store to Bob. the contract includes a provision that states that if the store is destroyed prior to the final real estate closing, Bob can get out of the contract without penalty. A month prior to the closing, the building sustains minor fire damage that can be easily corrected. However, Bob decides to withdraw from the contract. Since the damage was not serious. Bob is in breach of the contract. The lost profits sustained by Abe in the loss of the sale of his store would constitute as:

           

1. Consequential damages
2. Sight draft
3. Drawer
4. Incidental Damages

 21.Bright Lite Bulb Store contracts to install 100 light fixtures in a local mall within 7 days, and so enters into a purchase agreement with a supplier to buy the fixtures. The supplier agrees to deliver the fixtures within three days. On the fifth day, the supplier notifies Bright Lite they cannot fill the order, breaching the contract. Because the mall is unable to change their timeline, Bright Lite loses the contract and has to refund the mall’s money. The losses incurred by Bright lite are a direct result of the supplier’s breach of contract, and so are considered:

 

1. Consequential damages
2. Sight draft
3. Drawer
4. Incidental Damages

 

22.A charge of discrimination must be charged within _______ days of an alleged discriminatory event.

A.           150

B.           360

C.    180

D.           200

 

23.What information will you NOT receive under the FTC Franchise Rule?

A.           Number of franchisees and how many have gone out of business.

B.           Names, addresses, and telephone numbers of other franchisees.

C.           The background and experience of the business’s key executive.

D.    Names, addresses, telephone numbers, and bank information of customers.

 

24.The Worker Adjustment and Retraining Notification Act (WARN)

A.           Requires employers to provide harassment prevention training to their employees to keep them aware.

B.           Is an awareness program about the minimum wage and its effects on the employee before they are hired.

C.     Gives employees advance notice of a plant closing or mass layoff if 50 or more employees are affected.

D.           Notifies the worker ahead of time if they are being promoted or demoted.

 

25.There is a job opening for a female locker attendant and it very specifically says males are not allowed to apply. John applies for the job and is upset he does not get the position because it is his dream job. John decides he wants to file for discrimination. Will he win his case?

a. yes, because they cannot discriminate against him based on sex due to Title VII

b. no, because this job position is considered bona fide occupational qualification

c. yes, because of equal employment opportunity

d. no, because he was never hired to begin with

 

26.Jane is up for a promotion at her place of work. When she goes in for a meeting with her supervisor, Adam, to discuss the promotion he tells her if she sends him provocative pictures he will promote her. Jane is upset by this and wants to file for sexual harassment. Which type of sexual harassment has she been a part of?

a. quid pro quo

b. unnecessary touching

c. sexual advance

d. hostile environment

 

27.There are 100 shareholders of Miller Co. They are going to have an election at the next shareholder meeting for main chair holder. 48 of the 100 shareholders show up to the meeting for the election. Of the 48 who show 30 vote to elect Bob as main chair holder. Is this election voting valid?

a. yes, because more than half of the shareholders who showed up voted for him

b. no, because they did not all vote for him

c. yes, because almost half of the shareholders showed up

d. no, because more than half of the shareholders did not show up for the meeting

 

28.Under the UCC a good includes anything that is movable and tangible. This would include everything but:

a.     Natural resources

b.     Real Estate

c.     Clothing              

d.     Electronics

 

 

29. Mcdonald’s decides to allow John Kantz to have a franchise. What type of franchise has McDonald’s allowed Mr. Kantz to start:

a.     Management Franchise

b.     Product Distribution Franchise

c.     Business Format Franchise

d.     Exclusive Franchise

 

30.The UCC contracts must be in writing when they are $_____ or more

a.     $500

b.     $750

c.     $1000

d.     $50

 

 

 

31.Which of the following was not created under the Occupational Safety and Health Act?

a.     National Institute for Occupational Safety and Health Council

b.     National Institute for Occupational Safety and Health Administration

c.     Occupational Safety and Health Review Commission

d.     Occupational Safety and Health Administration

 

32.The National Labor Relations Board (NLRB) was created so that it

a.     Regulates the substance of bargaining

b.     Focuses on the rights of employees to self-organization

c.     Monitors unfair labor practices

d.     Has jurisdiction over employers only

 

33.The two major categories of sexual harassment are ________ and ________.

a.     Quid pro quo; hostile environment

b.     Quid pro quo; unnecessary touching

c.     Unnecessary touching; hostile environment

d.     Sexual request; abusive work environment