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Exam 21 :test Planning Table for Bonus Exam A

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Question 81

Multiple Choice

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You and your neighbor have agreed to a contract where he will cut your grass every other week for which you pay $30.However,for no apparent reason,he has not cut your grass for a month.Your neighbor has committed an) :

A) obligation violation.
B) breach of contract.
C) termination by association.
D) nonperformance endorsement.

E) A) and D)
F) A) and B)

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Question 82

True/False

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McDonald's was the subject of a product liability suit charging that its food caused obesity,diabetes,and other health problems in children.

A) True
B) False

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Question 83

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Taxes have been used as a method of encouraging or discouraging taxpayers from doing something.

An "interlocking directorate" occurs when a board of directors includes members of the board of competing corporations.

Trademarks generally belong to the owner forever,as long as they are properly registered and renewed every 10 years.

A patent gives inventors exclusive rights to their inventions for:

When United Airlines declared bankruptcy several years ago,it continued to operate as a business while it worked out a plan for paying off its debts.United Airlines filed a Chapter 13 bankruptcy.

An) __________ patent refers to the situation when some inventors intentionally delay a patent application because they expect others to develop similar products or technology.

Carlos has had a very successful year.His small-business corporation earned over $500,000.His company will have to pay part of its income to the federal government for income taxes.

Negotiable instruments provide a conditional promise to pay a specified amount of money.

Business law creates the legal framework for the enforcement of criminal statutes.

An) __________ tort is a willful act that results in injury.

Recent legislation encourages the use of submarine patents.

Concerns over the increase in the number of business laws and regulations that were costing the public money led to:

When the airline industry was deregulated in 1980 consumers benefited because airlines established new routes and charged lower fares.

Over __________ percent of patent applications are approved.

Money collected from excise taxes goes toward a specific purpose.

Under the doctrine of strict product liability,a manufacturer can be held liable:

With today's widespread use of water-based house paint,no paint manufacturer can be sued for damages today that are caused by lead-based paint that may still remain on the surface of some house and apartment walls.

Appellate courts hear the appeals of decisions made at the trial court level brought by the losing party in the case.