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LAW 421 Final Exam Guide
1) Which
of the following does not result in a decision rendered by the hearing officer?
A.
Arbitration
B.
Mediation
C.
Med-arb
D.
Using expert evaluators
2)
Jurisprudence is defined as
A.
adjudication of law suits
B.
the enactment of laws by a government body
C.
the science and philosophy of law
D.
the duties and obligations owed by a citizen
3) The
state of Kansas has enacted a new law requiring all commercial trucks driving
on Kansas roads to have special mud flaps installed.
These mud
flaps have been proven to make driving in the rain significantly safer due to
reduced mist created by trucks driving in the rain,
although
data regarding accidents and injuries has not yet been determined. Any truck
entering Kansas must have these flaps installed or
will be
subject to a significant fine and delay. The cost for purchase and installation
of these flaps is $1,000 per truck. In short, trucks must
have
these flaps or go around the state. This Kansas law
A.
is valid because it only applies to Kansas roads and such a law is
entirely intrastate
B.
is valid because Kansas's right to protect its citizens under its police
powers will override any outside challenges to this law
C.
is invalid because this law is intended to regulate interstate commerce,
an enumerated federal power
D.
is invalid because although on its face it's an intrastate law, this
statute will have a significant economic effect on interstate commerce
causing
an undue burden
4) The
power of preemption is derived from
A.
the power of judicial review
B.
the Commerce Clause
C.
the Necessary and Proper Clause
D.
the Supremacy Clause
5) What
is the main problem with international courts?
A.
Finding judges who understand the complexities of international law
B.
Creating a body of law that reflects multiple legal systems
C.
Enforcing a ruling on sovereign nations is difficult
D.
Lack of recognition from the U.N. and WTO
6) Under
the U.S. legal system, subject to some exceptions, costs of litigation
regarding both the plaintiff and defendant
A.
are all paid by the loser
B.
are all paid by the winner
C.
are paid for by each side with the plaintiff and defendant paying for
their own legal costs
D.
are totaled by the court and then for fairness, split in half with each
side paying an equal amount
7)
Generally, torts law is governed by
A.
state statutory law
B.
state common law
C.
federal statutory law
D.
constitutional law
8)
Assumption of risk is a defense to
A.
conversion
B.
negligence
C.
defamation
D.
battery
9) The
three stripes on Adidas clothing represents a
A.
trademark
B.
trade dress
C.
trade secret
D.
patent
10) The
color or shape of an item, if distinctive, is a
A.
trademark
B.
trade dress
C.
copyright
D.
patent
11)
Cybersquatting describes the practice of
A.
registering multiple domain names and then selling them back to companies
at inflated prices
B.
hacking into a company's website to install a virus or Trojan horse
designed to steal information but allow the site to continue
operation
C.
using mechanical devises to access a company's website multiple times to
the point that traffic to the site is slowed or blocked
D.
hacking into a company's website to install a virus designed to cause the
company's website to totally cease operation
12) The
Digital Millennium Copyright Act (1998) provided each of the following
protections EXCEPT
A.
manufacturers of CD-Writers were required to pay 2% of their sales into a
fund to be distributed to copyright holders because the
CD-Writers
could easily copy music and other copyrighted works
B.
civil and criminal penalties were established for those who sell or
manufacture products or services that circumvent antipiracy software
C.
restrictions were placed on analog recorders and camcorders that lack
antipiracy features
D.
ISPs were relieved of liability for copyright infringement by their users
as long as the ISP had no knowledge of the infringement
13) When
Maria comes home from work, she finds that her yard has been mowed and trimmed.
An hour later, a man comes to her door to
collect
payment for the yard work. Maria refuses to pay him because she has never seen
him before nor had she hired him to do the work.
Which of
the following is accurate?
A.
This is an implied, unilateral contract, so she must pay.
B.
Maria has received unjust enrichment so a quasi contract is formed, so
she must pay.
C.
The court would make Maria pay the reasonable cost of the work to be fair
to both parties.
D.
Maria would not have to pay anything.
14) Where
a promise can only be accepted by the performance of the person to whom it is
offered is an example of a/an
A.
bilateral contract
B.
unilateral contract
C.
implied contract
D.
quasi contract
15) Each
of the following is a discharge by mutual consent EXCEPT
A.
accord and satisfaction
B.
novation
C.
rescission
D.
frustration of purpose
16) Harry
sees an AK-47 automatic assault rifle in a gun shop window. He inquires about
the price and is told that it is $2,500. Harry signs
a
contract promising to pay the $2,500 on Friday, taking possession of the rifle
when payment is made. On Thursday, a law is enacted
making
the ownership, sale, or possession of an automatic rifle illegal. This contract
A.
automatically terminates due to impossibility
B.
automatically terminates due to impracticability
C.
automatically terminates due to frustration of purpose
D.
is enforceable and not affected by the new law because it was entered
into before the law took effect
17) Which
of the following is rarely awarded in contracts cases?
A.
Consequential damages
B.
Compensatory damages
C.
Punitive damages
D.
Liquidated damages
18) Which
of the following is classified as an equitable remedy?
A.
Consequential damages
B.
Reformation
C.
Restitution
D.
Liquidated damages
19) Which
of the following would not be considered tangible?
A.
A car
B.
Oxygen
C.
The right of ownership
D.
The pen or pencil you are using
20) With
regard to consideration in a sales contract, the UCC differs from the common
law in that
A.
consideration in a sales contract may be modified without additional
consideration
B.
consideration exchanged must be equal or very closely equal in sales
contracts
C.
consideration is not required in sales contracts
D.
consideration in a sales contract may be modified as long as additional
consideration is provided
21) The
UCC will permit an incomplete or slightly ambiguous contract to be enforced
using each of the following criteria EXCEPT
A.
past commercial conduct
B.
industry standards or norms
C.
judicial input of any terms necessary to maintain fairness
D.
correspondence or verbal exchanges between the parties
22) Two
merchant companies have entered into a contract for the sale of goods but have
had no prior dealings, which would establish a
course of
conduct between them. The UCC will allow gap fillers to apply to their contract
regarding missing terms in each of the following
situations
EXCEPT
A.
they have failed to specify when payment for the goods is to be made
B.
they have failed to specify where delivery of the goods is to be made
C.
they have failed to specify the quality or grade of the goods to be
delivered
D.
they have failed to specify the price of the goods to be delivered
23) When
a buyer rejects nonconforming goods and purchases the appropriate goods from a
different seller, this is an example of which of
the
following:
A.
Cover
B.
Specific Performance
C.
Lawsuit for Money Damages
D.
Revoking Acceptance
24) Which
of these is not a requirement for disclaiming a warranty?
A.
Statutory authorization
B.
A conspicuous writing
C.
Explaining why the warranty is being disclaimed
D.
Including the word merchantability if merchantability is to be disclaimed
25)
"What if everyone took these same actions" is a question sometimes
called the
A.
universalization approach
B.
utilitarian approach
C.
functionality approach
D. morality
approach
26) The
utilitarian approach to moral philosophy was founded by
A.
Jeremy Bentham
B.
Immanuel Kant
C.
Cicero
D.
Kenneth Lay
27) Stan
is an investment manager. He has received money from various investors with a
promise of very high returns on their investments.
The
invested money is not supplying enough capital in order to pay the returns
promised, so he has started using new investor's money to
pay older
investors. By advertising and by word of mouth, people are anxious to invest
with Stan because of the money being paid, and
with the
influx of new investors, he is able to continue operating. Stan is
A.
operating an insider trading operation
B.
racketeering
C.
guilty of conspiracy to defraud
D.
operating a Ponzi scheme
28) Ben
is the manager of a branch of a large bank. He has regularly taken money from
customer's accounts for his own use and changed
the bank
records to cover his actions. Ben is guilty of
A.
a conspiracy
B.
a Ponzi scheme
C.
racketeering
D. embezzlement
29) The
Sarbanes-Oxley Act (2002) imposed stricter regulations on how corporations do
business through regulations in each of the
following
areas EXCEPT
A.
tax compliance
B.
financial reporting
C.
corporate governance
D.
auditing
30) Joan
is the CFO of Para Corp. and is a year from retirement. In order to guarantee
herself a very substantial bonus and to boost her
retirement
package, she knowingly certifies false financial reports making the company
appear to be much more profitable than it really
is. She
further takes steps to assure that the financial report was not reviewed
through internal controls maintained by Para Corp. Under
the
provisions of the Sarbanes-Oxley Act (2002), if her fraud is NOT part of a
larger scheme, what criminal penalties are possible for
Joan?
A.
$1 million in fines and up to 10 years in prison
B.
$2 million in fines and up to 12 years in prison
C.
$5 million in fines and up to 15 years in prison
D.
$10 million in fines and up to 20 years in prison
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