Liberty University BUSI 301 quiz 1 complete solutions correct answers A+ work

Liberty University BUSI 301 quiz 1 complete solutions correct answers A+ work

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Civil law systems reject and prohibit the use of precedent, relying solely on strict interpretations of statutes.

Mega Corporation has developed a strategic plan that calls for an emphasis on appealing to a younger demographic. If it decided that such an appeal to a younger market would necessitate a change in the corporate logo and trademark, such changes would require an understanding of:

Legal positivists believe that agreed-upon laws should be uniformly and strictly enforced and may be changed only by the government.

Jurisprudence refers to the conducting of a trial and the rendering of a judicial decision.

The U.S. system of common law:

An Oregon corporation and a New Hampshire corporation have entered into a contract and agreed that any legal disputes will be conducted using New Hampshire law. This agreement is called a:

All American taxpayers are allowed to bring any case they want to in federal court at any time.

Delaware and New Jersey are separated by the Delaware River. New Jersey has started to build a pier extending well into the river, and Delaware claims that the construction will infringe on Delaware's navigational rights. If a lawsuit is filed, it must be filed in either a Delaware or New Jersey state court.

The Supreme Court case of Pennoyer v. Neff articulated a framework for the exercise of personal jurisdiction by lower courts that applied to:

A court may hear a case if it has jurisdiction over either the subject matter of the dispute or the parties in the case.

Each of the following is a pretrial motion except:

Judges must be present during depositions to resolve disputes and ensure fairness.

If a civil trial results in a hung jury:

While normal arbitration produces an arbiter's decision and the parties are bound by the award, online arbitration produces a decision but the award is not binding on the parties.

Legally mandated arbitration is nonbinding arbitration.

In Arthur Andersen LLP v. United States, Andersen's previous conviction was overturned by the Supreme Court because it was determined that:

As a result of the AIG bailout, the U.S. government received a(an) ________ stake in the company.

Modern Corporation operates a steel mill. It has never contributed anything to the local community, and it knowingly pollutes both the air and the river that runs by its mill. The corporation's reasoning is that the cost of installing pollution control devices would diminish its profits, and it doesn't support the community because it provides jobs and doesn't think it owes anything else to the citizens in its area. Donating to the community would also diminish profits. Which theory of corporate social responsibility is Modern Corporation exhibiting?

Enron Corporation was a multinational conglomerate with a core business of:

What is considered an ethical practice, once established, remains constant and acceptable unless specifically preempted by statute.

The inherent right of the federal government to protect its citizenry's health, safety, and welfare is referred to as the federal government's police powers.

The Equal Protection Clause is contained in the:

When a state action is found to be based on a semi-suspect (or quasi-suspect) classification, the courts will employ:

Enumerated powers are those rights and powers granted in the Constitution to the individual states.

Protections under the Bill of Rights were extended to include restrictions and actions by state governments under the:

A unilateral contract is formed by an exchange of promises.

If one part of the contract becomes illegal or impossible to perform, the remaining contract components remain in effect if:

Aimee goes online and orders a pair of jeans, three T-shirts, and a pair of boots. This is an example of:

A contract in which each component of the contract is dependent on every other component is called:

The terms agreement and contract have the same meaning.

exam 1

1. Criminal laws are a protection of society, and the violation of criminal laws results in penalties to the violator such as fines or imprisonment.

2. _____ is the first step in learning how to make legal decisions in a business context

3. Which of the following is true of subject matter jurisdiction on the basis of diversity of citizenship?

4. Courts use a two-prong test to determine whether it has personal jurisdiction over an out-of-state defendant. Which of the following
questions is likely to be asked in the second prong that deals with meeting constitutional requirements of fairness and due process?

5. Summary jury trials are used primarily in federal courts but have occasionally been used by state courts when there are complex issues to be litigated

6. Depositions and interrogatories occur during the _____ stage of litigation

7. Ongoing attention and dialogue regarding values in the workplace build resistance to openness, integrity, and community

8. A very simplistic approach to consider when deciding whether a manager or a company is acting in an ethical manner is to apply a"broadcast news test

9. The U.S. Constitution is composed of a preamble, seven articles, and 27 amendments

10. Congress's broadest powers are derived from the

11. A contract is simply an agreement that a court of law will recognize and enforce

12. In general, contracts for real estate are governed by _____.

13. Statutory law is the foundation for all other law in the United States and is the supreme law of the land

14. A bill is a federal statute passed by Congress and signed into law by the president

15. In a recent state trial court case against the fraudulent actions of Fuller Inc., the company's CEO was found guilty of fraud. The company filed an appeal to the state appellate court, which then remanded the case back to the trial court. Which of the following best explains the actions of the state appellate court?

16. Which of the following is the primary purpose of state long-arm statutes

17. Which of the following is a type of informal alternative dispute resolution (ADR)?

18. If arbitration is unbinding, the arbitrator's decision is final unless both parties in the dispute agree to have the case reopened

19. Differentiate between codes of conduct and codes of ethics

20. Business ethicists agree that in an ideal ethical organization, responsibility is seen as collective rather than individual

21. Congress's broadest powers are derived from the

22. The general implied power of Congress to make all laws necessary for carrying out its enumerated powers fall within the purview of the Commerce Clause

23. A void contract is one that meets the elements required by law for an otherwise binding agreement but is subject to a legal defense in order to be enforceable

24. Only written contracts are considered to be enforceable

25. Although much of the language of the law has Latin roots, the terminology is primarily a combination of Latin, early and modern English, and Greek

26. _____ is the first step in learning how to make legal decisions in a business context

27. Certain courts are charged with the primary role of performing judicial review

28. Which of the following is true of subject matter jurisdiction on the basis of diversity of citizenship

29. Which of the following statements is NOT true of the Federal Arbitration Act (FAA

30. Summary jury trials are used primarily in federal courts but have occasionally been used by state courts when there are complex issues to be litigated

31. Understanding which primary and secondary stakeholders will be affected is part of the _____ stage of the ethical decision-making process

32. Differentiate between codes of conduct and codes of ethics

33. The power granted by the supremacy clause to override a state law is called

34. Congress may tax those activities or property that it is authorized to regulate directly under any of the enumerated regulatory powers

35. Peter offers babysitters $50 to babysit his daughter for 2 hours. According to the written contract that Peter draws up, each babysitter's responsibilities are completed only when Peter is back home and has paid the babysitter. Karen, a new babysitter, has just finished babysitting Peter's daughter.

36. A contract is simply an agreement that a court of law will recognize and enforce

37. In rem jurisdiction occurs when a court uses its quasi in rem jurisdiction to compel a litigant to appear in court by attaching property that belongs to the litigant

38. Joan is on trial for first-degree murder. It is a jury trial in which she is pleading not guilty. Presently, the plaintiff's attorney is asking questions of the witnesses on the plaintiff's list. This is known as

39. Which of the following is a congressional power granted by the U.S. Constitution

40. A(n) _____ is best defined as a contract that involves one promise, followed by one performance, which then triggers a second performance from the offeror