LAW 531 FINAL EXAM 2

LAW 531 FINAL EXAM 2 1. What are the two categories of government regulations that pertain to businesses? a). General government regulations & specific government regulations b). Statutory law regulations & common law regulations c). Civil government regulations & criminal government regulations d). Public law regulations & private law regulations 2. In a survey of the nonattainment areas in the state, the agency found Helmont to be the district that exceeded the ozone standard by the largest margin. Helmont is most likely to be categorized as a(n) nonattainment area. a). acute b). marginal c). Extreme d). major 3. In which type of franchise does the franchisor give the franchisee a license to make & sell its products from a retail outlet for an exclusive geographical territory? a). Area franchise b). Distributorship franchise c). Chain-style franchise d). Processing plant franchise 4. The federal Privacy Act provides that federal administrative agencies can a). maintain any information about an individual, as long as it is disclosed to the individual b). maintain any information about an individual c). maintain only information about an individual that is relevant & necessary to accomplish a legitimate agency purpose d). maintain information about an individual for matters concerning any agency purpose 5. George, Jerry, & Harry are passengers on a flight from Chicago to New York. They injure their legs when their seatbelts do not fasten during takeoff. The airline is sued by all three together for injuries caused & the airline is found to be negligent & is directed by the court to pay damages to the injured parties. Which of the following parties is entitled to recover maximum damages? a). George, a retired professor who gets a pension of $50,000 a year b). Jerry, a professional football player who earns $2 million a year c). All the men recover the same amount of damages, irrespective of their income or profession d). Harry, a chartered accountant who earns $200,000 a year 6. Which of the following doctrines allows the court to order an oral contract for the sale of land or transfer of another interest in real property to be specifically performed if it has been partially performed & performance is necessary to avoid injustice? a). Undue performance b). Part performance c). Promissory estoppel d). Equitable performance 7. Which of the following policies helps a corporate officer from being sued for honest mistakes made on behalf of a corporation? a). Duty of loyalty b). Self-dealing c). Duty of care d). Business judgment rule 8. Generally, the action committed by a corporate officer or director in his or her violation of the fiduciary duty of care is what type of action? a). Omission b). Disloyal c). Intentional d). Negligence 9. A bona fide occupational qualification is required to be a). job related & a business necessity b). job related & cost effective c). job related & nondiscriminatory d). rationally based & evenly applied 10. is a rule which states that judges of one country cannot question the validity of an act committed by another country within that other country’s borders. a). Doctrine of sovereign immunity b). Act of state doctrine c). Noerr doctrine d). Colgate doctrine 11. A minor can be obligated to pay the reasonable value for the purchase contract of which of the following? a). Life necessaries b). Computer c). Insurance d). Cell phone