Legal Exam 4 Study Guide – Key Concepts, Case Review & Practice
Questions
Under Regulation Crowdfunding: - correct answer ✔✔resale of the securities is limited in the
first year.
To have an illegal monopoly, a company must:
I. control the market.
II. maintain its control improperly.
III. have a market share greater than 90 percent. - correct answer ✔✔I and II
Reserve Supply Corp., a cooperative of 379 lumber dealers, charged that Owens-Corning
Fiberglass Corp. violated the Robinson-Patman Act by selling at lower prices to Reserve's
competitors. It presented proof that these prices had harmed competition. Owens-Corning
admitted that it had granted lower prices to a number of Reserve's competitors to meet, but
not beat, the prices of other insulation manufacturers. Is Owens-Corning in violation of the RPA?
- correct answer ✔✔No, because a manufacturer is not liable under the RPA if it charges lower
prices to meet competition.
If you receive a product in the mail that you did not order: - correct answer ✔✔you must return
it, but the company must reimburse you for postage.
Depending on state law, if a lender violates the usury laws, the borrower could possibly be
allowed to keep:
I. the interest that exceeds the usury limit.
II. all the interest.
III. all of the loan and the interest. - correct answer ✔✔All of these
, On the first of every month, your rent is automatically deducted from your bank account. You
are moving out and want to make sure the payments stop. What should you do?
I. Tell the bank at least three days before the first of the month.
II. Write the bank at least three days before the first of the month.
III. Have the landlord sign a form, which you then mail or deliver to the bank at least three days
before the first of the month. - correct answer ✔✔Either I OR II
Which of the following statements are true of Superfund?
I. Anyone who has ever owned a site is liable for cleanup costs.
II. Anyone who has ever transported waste to a site is liable for cleanup costs.
III. Anyone who has ever disposed of waste at a site is liable for cleanup costs. - correct answer
✔✔All of these
Which of the following are a point source requiring a permit under the CWA?
I. Farm fields
II. A waste treatment plant that dumps water into wells that then travel a brief distance through
groundwater to the ocean
III. A canal that collects water and discharges it into an intermittent stream that sometimes
flows into a navigable water - correct answer ✔✔II
The Toxic Substances Control Act: - correct answer ✔✔requires the EPA to test new chemicals,
or old chemicals being used in a new way, before they can be used in products.
To be successful in a suit under the Securities Act of 1933, the plaintiff must prove:
Important Mistake in the Registration Statement
Plaintiff Lost Money - correct answer ✔✔Both
Questions
Under Regulation Crowdfunding: - correct answer ✔✔resale of the securities is limited in the
first year.
To have an illegal monopoly, a company must:
I. control the market.
II. maintain its control improperly.
III. have a market share greater than 90 percent. - correct answer ✔✔I and II
Reserve Supply Corp., a cooperative of 379 lumber dealers, charged that Owens-Corning
Fiberglass Corp. violated the Robinson-Patman Act by selling at lower prices to Reserve's
competitors. It presented proof that these prices had harmed competition. Owens-Corning
admitted that it had granted lower prices to a number of Reserve's competitors to meet, but
not beat, the prices of other insulation manufacturers. Is Owens-Corning in violation of the RPA?
- correct answer ✔✔No, because a manufacturer is not liable under the RPA if it charges lower
prices to meet competition.
If you receive a product in the mail that you did not order: - correct answer ✔✔you must return
it, but the company must reimburse you for postage.
Depending on state law, if a lender violates the usury laws, the borrower could possibly be
allowed to keep:
I. the interest that exceeds the usury limit.
II. all the interest.
III. all of the loan and the interest. - correct answer ✔✔All of these
, On the first of every month, your rent is automatically deducted from your bank account. You
are moving out and want to make sure the payments stop. What should you do?
I. Tell the bank at least three days before the first of the month.
II. Write the bank at least three days before the first of the month.
III. Have the landlord sign a form, which you then mail or deliver to the bank at least three days
before the first of the month. - correct answer ✔✔Either I OR II
Which of the following statements are true of Superfund?
I. Anyone who has ever owned a site is liable for cleanup costs.
II. Anyone who has ever transported waste to a site is liable for cleanup costs.
III. Anyone who has ever disposed of waste at a site is liable for cleanup costs. - correct answer
✔✔All of these
Which of the following are a point source requiring a permit under the CWA?
I. Farm fields
II. A waste treatment plant that dumps water into wells that then travel a brief distance through
groundwater to the ocean
III. A canal that collects water and discharges it into an intermittent stream that sometimes
flows into a navigable water - correct answer ✔✔II
The Toxic Substances Control Act: - correct answer ✔✔requires the EPA to test new chemicals,
or old chemicals being used in a new way, before they can be used in products.
To be successful in a suit under the Securities Act of 1933, the plaintiff must prove:
Important Mistake in the Registration Statement
Plaintiff Lost Money - correct answer ✔✔Both
