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Exam 1: An Introduction to Dynamic Business Law

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Question 1

Multiple Choice

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Which of the following is an executive agency?

A) The Federal Deposit Insurance Corporation
B) The Federal Trade Commission
C) The Securities and Exchange Commission
D) The Federal Communications Commission
E) The Nuclear Regulatory Commission

F) All of the above
G) B) and C)

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Question 2

Multiple Choice

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Which of the following is reported in the United States Code?

A) Statutes
B) Executive orders
C) Common law
D) Administrative law
E) Local ordinances

F) B) and E)
G) A) and B)

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Question 3

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Business law consists of the enforceable rules of conduct that govern commercial relationships.

"Inattentive Driving." Molly, a first year law student, decided to skip class and drive off campus to check on her new dress for the upcoming school dance. While driving, Molly is busy talking on her cell phone with her friend Sharon to convince her to going to the dance with Molly's brother who has a big crush on Sharon. Unfortunately for Molly, there is a statute in her state outlawing talking on a cell phone while operating a motor vehicle. Molly crashes into the side of Sam's new convertible when she looks down to pick up a can of soda she just dropped onto her new jeans. A police officer just down the street comes over to investigate. Molly explains to him that it was difficult to hold the cell phone in one hand, the soda in the other, and also drive. The officer was not impressed. Around that time Sam comes along. He is furious regarding the significant dent in his new car. Molly says she has insurance and that she will cover the whole incident. Sam says that is insufficient; but Molly says that under case precedent, that is his only remedy. The officer is annoyed because it is his lunch break. He tells Molly that she must obey duly authorized law, and proceeds to write several citations to her. -Molly's reference to precedent involves which of the following?

In which school of jurisprudence is the concept of stare decisis rooted?

The term "natural law" is another word for "legal positivism."

Which of the following is based on the idea that, when ruling on a case, judges consider more than just the law; they also weigh factors such as social and economic conditions?

The rules and regulations put forth by legislatures are referred to as _______ law.

Which of the following is an independent agency?

Which of the following would be relevant areas of business law to a human resource manager?

Which of the following is true regarding administrative agencies?

Which of the following cases overturned prior precedent?

The concept of _____ suggests that individuals should have the freedom to disobey a law enacted by people if their conscience goes against the law and they believe the law is wrong.

Candy wants to start an Internet business doing business domestically as well as internationally. She is told by the Chinese government that certain items on her site are objectionable and illegal, and that if she wants to do business in China, she must remove the objectionable material. Which of the following is true?

"International Expansion." Zach wants to expand his coffee business internationally - into Zeno, a small remote country. He moves there temporarily in order to oversee operations. His best friend Zora asks him if he plans to hire legal counsel for the expansion. Zach replies, "Of course not. The U.S. has the strictest laws regarding contracts, employment, and business practices in the world. So long as I'm legal in the U.S., I'm legal anywhere. Besides, I studied up on Zeno law ten years ago, and I know it all." Zach proceeds and lands in jail in Zeno for violating recently passed laws protecting employees and mandating certain benefits. Authorities there claim that he sexually harassed an employee, failed to pay sufficient wages, and failed to give employees Zeno's mandated 12 weeks of paid vacation per year. -Which of the following is true regarding Zach's defense that he thought he knew the law of Zeno because he had studied it some years before and that the laws under which he was arrested were new? (Assume the law of Zeno is the same as the U.S. on this issue.)

"The Stolen Book." Susan is told by Betty that Bob stole her business law book out of her car. The next day Susan confronts Bob and slaps him for stealing her book. Bob had Susan arrested for slapping him, and the local district attorney is prepared to prosecute that matter on behalf of the state. Susan sues Bob for damages to the book and for maliciously having her arrested. Claiming that she lied, Bob sues Betty for defamation. -The prosecution against Susan for slapping Bob involves which of the following?

Cyberlaw is based primarily on existing laws.

Laws are enforced by which of the following?

Define the meaning of the term "stare decisis," and discuss how it is applied.

Joan comes to Mike's law office to ask him about the law in regard to dogs running at large in her neighborhood. Mike tells Joan that he will research the issue and get back with her. Where should Mike look first in order to locate applicable law?