"LAW 421 Final Exam"...A+ ANSWERS! GOOD LUCK

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