BUSN311 week 6 Quiz

Question 1 of 10

10.0 Points

International law includes all of the following except:

A.The law of sovereign foreign countries

B.Foreign custom and religious law

C.Private contracts between parties in different states in the United

States

D.International treaties and conventions

Question 2 of

10

10.0 Points

Political risk is not affected by a weak or volatile rule of law

A.True

B.False

Answer Key:

Question 3 of

10

10.0 Points

Which of the following is not a required element for a valid contract in the United States

A.offer

B.acceptance

C.price

D.consideration

Answer Key:

Question 4 of

10

10.0 Points

The Statute of Frauds:

A.requires parties to attest that they are honest

B.mandates that parties must have legal capacity to enter a contract

C.turns a contract into a criminal case if fraud is present

D.requires that some contracts be in writing in order to be enforced

Answer Key:

Question 5 of

10

10.0 Points

A counter offer is a rejection of the offer.

A.True

B.False

Answer Key:

Question 6 of

10

10.0 Points

All of the following are defects that would trigger strict liability except:

A.customer using the product incorrectly

B.design defect

C.manufacturing defect

D.warning defect

Answer Key:

Question 7 of

10

10.0 Points

Which of the following is a legitimate subject matter for a patent?

A.a mathematical formula

B.a business process

C.products of nature

D.printed material

Answer Key:

Question 8 of

10

10.0 Points

Which of the following is not a factor in determining whether a trademark is inherently distinctive:

A.usefulness

B.fanciful

C.arbitrary

D.suggestive

Answer Key:

Question 9 of

10

10.0 Points

Trade secret disclosure suits can be filed with the USPTO.

A.True

B.False

Answer Key:

Question 10 of

10

10.0 Points

Business policies are usually inconvenient restrictions and a business hindrance.

A.True

B.False

Answer Key:

Week Eight Final Exam

Return to Assessment List

Part 1 of 1 -

125.0 Points

Question 1 of 20

10.0 Points

Identify and define three ethical frameworks discussed by Halbert & Ingulli. Provide a detailed

example of a corporate executive using each of these frameworks.

Three ethical frameworks: Deontology, Utilitarianism, and Free Market Ethics.

Corporate executives would utilize deontology on a daily basis through having honesty and integrity with

each of their employees. The executive would should moral and ethical values through fairness to all

employees and treat them all fairly without prejudice.

Utilitarianism, executives of a corporation will look for what is to the best interest of all parties involved.

Meaning the employees as well as the company itself. Should a company find them in financial despair,

before removing many people jobs, a good executive will see what they can pull together to maintain the

interest of the company as well as the employee.

Free Market simply seems to be the most productive and acceptable ideology for businesses.

Corporations are allowed to do what they want within the limit of the laws to make a profit. An example of

this is that

businesses is allowed to sell to a consumer within the market freely without consequences

from, the government, and within the free market a corporate executive can create contracts free of

government intervention.

Hasl-Kelchner, H. (2006). The business guide to legal literacy: what every manager should know about

the law. [Books24x7 version] Retrieved from

http://ezproxy.apus.edu/login?

url=http://library.books24x7.com/toc.asp?bookid=16713

Model Short Answer:

Free Market Ethics

Utilitarianism

Deontology

Virtue Ethics

Ethic of Care

Question 2 of 20

10.0 Points

Discuss Schaefer's position on shareholders and social responsibility. Do you agree? Why or why

not?

My opinion is the company best interest should lie with the shareholders. They need to increase the

shareholders value. Shareholders do have value for the company as a whole bit their main object is for

proven profitability with the corporation. The shareholders should include the ideas presented to them by

the stakeholders. Consideration must also be taken that if the corporation is nit thriving there will no

money to be made by anyone,

Shareholders and Stakeholders have different ideologies as it is surrounded by the belief in the

organization. In my opinion stakeholders are almost like the leasers within the business because they

hold a great interest in the success of the business on a long term basis. The Corporate Social

Responsibility needs to be incorporated into the difference between the shareholder ans stakeholder. All

parties should in my opinion be a part of the decision making process whether they are stakeholders or

shareholders. Stakeholders can be employees or customers so I agree that both shareholders and

stakeholders to to have the common ground of profitability but also corporate responsibility.

Hasl-Kelchner, H. (2006). The business guide to legal literacy: what every manager should know about

the law. [Books24x7 version] Retrieved from

http://ezproxy.apus.edu/login?

url=http://library.books24x7.com/toc.asp?bookid=16713

Question 3 of 20

10.0 Points

Discuss three factors that Maffei identified as elements the court will use in determining whether to

pierce the corporate veil.

Piercing the corporate veil means to access the shareholders assets. Did the shareholders pay

themselves before creditors, or use the assets of the corporation for personal use beyond the law. If the

court decides to not pierce the corporation, is there injustice or possibly fraud. The courts must review the

financial status of the corporation, in the past as well as in the future. Is the corporation strong enough or

will it fail. However, the business must have separation of finances between personal use and business

use. Meaning they can share the same banking account, which is a sure fire way for the courts to pierce

the corporate veil.

The court must decide if there is any unity between the business and shareholders. Should the court

pierce the veil, owners, shareholders and members. If the courts find that these individuals have treated

creditors unfairly this is another reason the courts may pierce the veil.

Hasl-Kelchner, H. (2006). The business guide to legal literacy: what every manager should know about

the law. [Books24x7 version] Retrieved from

http://ezproxy.apus.edu/login?

url=http://library.books24x7.com/toc.asp?bookid=16713

Model Short Answer:

The Absence of Corporate Formalities

Personal use and commingling of corporate funds

Inadequate capitalization

Statutorily Imposed Shareholder Liability

Perpetuation of fraud by use of a corporate vehicle

Failing to ratify pre corporate contracts:

Question 4 of 20

10.0 Points

Identify and discuss two major laws that are enforced by the Department of Labor.

Department of Labor enforces up to 180 laws, one of the major law is the FLSA Fair Labor Standards

of 1938. This law protects both full and part time employees by setting and enforcing minimum wages.

Which is administered by the Wage and Hour Division. This division is also responsible for enforcing the

minimum wage, along with any overtime the employee has earned.

The Department of Labor also

enforces freedom

from any type of employment discrimination by employers. OSHA (Occupational Safety

& Health Division, also falls under the Department of Labor and is enforced by the Department of Labor

through OSHA. Ensuring the safety and fair wages to all employees is the main objective of the

Department of Labor.

http://www.dol.gov/opa/aboutdol/lawsprog.htm

Hasl-Kelchner, H. (2006). The business guide to legal literacy: what every manager should know about

the law. [Books24x7 version] Retrieved from

http://ezproxy.apus.edu/login?

url=http://library.books24x7.com/toc.asp?bookid=16713

Model Short

Answer:

Question 5 of 20

10.0 Points

Define and discuss three disadvantages of sole proprietorship, according to the Missouri Bar Center.

Sole Proprietorship, is ran by members or one individual person. One of the biggest disadvantage of a

Sole Proprietor is that they can be held personally responsible This persons actions or employees of the

Sole Proprietor means the individual owner is responsible for all actions that transpire from themselves or

employees. It is also difficult for a sole proprietor to get financing from banks or investors, because this is

risky should something happen to the owner or he/she ceases to exist. All personal assets are at high risk

if the business should become involved in law suit.

Sole Proprietors also pay taxes on their business

along with their personal income. This type of business is typically funded by the individual and all their

personal assets which is risky should the business fail, their personal life and assets will most likely fail as

well.

Hasl-Kelchner, H. (2006). The business guide to legal literacy: what every manager should know about

the law. [Books24x7 version] Retrieved from http://ezproxy.apus.edu/login?

url=http://library.books24x7.com/toc.asp?bookid=16713

Model Short Answer:

Liability

Income Taxes

Funding

Question 6 of 20

5.0 Points

Unless the parties agree otherwise, a promoter of a corporation is liable for contracts entered into prior

to corporate formation.

A.True

B.False

Answer Key:

Question 7 of

20

5.0 Points

The mere formation of a corporation is not an absolute liability shield.

A.True

B.False

Answer Key:

Question 8 of

20

5.0 Points

Prosecutors will look at all of the following factors when determining whether to bring a SOX

violation, except:

A.Nature and seriousness of the offense, including the risk of harm to the public.

B.Corporation’s remedial actions, including efforts to implement or improve a compliance

program.

C.Whether the company’s actions resulted in sufficient profits for the company.

D.Adequacy of the prosecution of individuals responsible for the malfeasance.

Answer Key:

Question 9 of

20

5.0 Points

The purpose of SOX is to protect investors by improving the accuracy and reliability of corporate

disclosures.

A.True

B.False

Answer Key:

Question 10 of

20

5.0 Points

The Civil Rights Act of 1964 has several provisions, but the most important for businesses is known

widely as:

A.Title I.

B.Title VIII.

C.Title II.

D.Title III.

E.Title VII.

Answer Key:

Question 11 of

20

5.0 Points

Title VII eliminates job discrimination on the basis of all of the following EXCEPT:

A.sex.

B.race.

C.color.

D.age.

E.religion.

Answer Key:

Question 12 of

20

5.0 Points

The philosophy of Milton Friedman is influential in all of the following, except:

A.Stakeholder theory

B.Shareholder theory

C.Free Market ethics

D.Friedman’s philosophy is influential in all of the

above.

Answer Key:

Question 13 of

20

5.0 Points

Attributions of irresponsibility may generate stronger external reactions than perceptions of

responsibility and, ultimately, have a much greater impact on the firm’s relationship with its

environment.

A.True

B.False

Answer Key:

Question 14 of

20

5.0 Points

Title VII of the Civil Rights Act of 1964:

A.creates only three protected classes.

B.gives victims of discrimination the immediate right to file a federal

lawsuit.

C.prohibits all types of discrimination.

D.requires employers to treat employees equally, but not identically.

E.applies to employers with more than 10 employees.

Answer Key:

Question 15 of

20

5.0 Points

The Equal Employment Opportunity Commission (EEOC):

A.is a federal agency established by the Civil Rights Act of 1968.

B.publishes guidelines for the public sector to assist businesses in deciding what employment

practices are lawful or unlawful.

C.enforces civil rights in the workplace.

D.investigates complaints filed by employers who believe they are victims of unlawful

discrimination.

E.does not give victims of discrimination the immediate right to file a federal lawsuit.

Answer Key:

Question 16 of

20

5.0 Points

British Petroleum’s management’s actions on the Deepwater Horizon job that appeared to emphasize

cost control and speed to completion instead of safety would be an example of

A.Ethical Egoism

B.Free Market Ethics

C.Shareholder theory

D.All of the above

Answer Key:

Question 17 of

20

5.0 Points

Congress passed the _____, which gives victims the right to file a complaint within 180 days of their

last discriminatory paycheck.

A.Lilly Ledbetter Fair Pay

B.Fair Labor Standards Act

C.Rehabilitation Act

D.Equal Pay Act

E.Paycheck Fairness Act

Answer Key:

Question 18 of

20

5.0 Points

If a defendant does not answer the complaint, what is the result?

A.Default judgment against defendant

B.Case dismissed

C.Bench arrest warrant issued against defendant

D.Automatic 30-day stay granted to defendant

E.Automatic 60-day stay granted to defendant

Answer Key:

Question 19 of

20

5.0 Points

Which is the most expensive form of discovery?

A.Interrogatories

B.Requests for admission

C.Depositions

D.Requests for production

E.Spoliation

Answer Key:

Question 20 of

20

5.0 Points

Jenny promises to pay Ivan $300 in exchange for Ivan’s promise to paint Jenny’s house. This is an

example of a(n):

A.unilateral contract.

B.bilateral contract.

C.invitation to bargain.

D.assignment.

E.illusory promise.

Answer Key: