BUSI 301 quiz 1 complete solutions correct answers key

Liberty University BUSI 301 quiz 1 complete solutions correct answers key

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

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