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Exam 24: Appendix: Working Within the Legal Environment

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Question 51

True/False

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Generally a warranty is an important part of a product.

A) True
B) False

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Question 52

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When a person's or company's behavior causes unintentional harm or injury to others they are said to be __________ in tort law.

A) out-of-control
B) liable
C) negligent
D) purposeful

E) A) and B)
F) A) and C)

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Question 53

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You and your boss agree to terminate your employment contract because you want to devote more time to school.This breach of contract would likely be resolved by:

Under contract law,"damages" are the monetary settlements awarded to a person who is injured by a breach of contract.

When McDonald's lost a lawsuit to a person severely burned by hot coffee McDonald's was found to be guilty of:

The Robinson-Patman Act prohibits price discrimination in all transactions except business-to-business transactions.

The Clayton Act of 1914 prohibits price discrimination.

Most bankruptcies today are involuntary because creditors want to retrieve as much of their money as possible.

The warranty you receive in the box with your new DVD is a(n) :

Income taxes include taxes paid on real and personal property.

The Federal Trade Commission Act of 1914 prohibits minors from entering into contracts.

If I agree to sing at your wedding for free and then don't show up,you may sue me for breach of contract.

You verbally promise to pay your sister tomorrow the $25 that you owe her.This promise however,is not a negotiable instrument because:

The most popular form of bankruptcy among individuals is Chapter 11.

Brian and Sondra own a very successful Cajun restaurant.They recently built their own building and own all of the decorations in the restaurant,along with the equipment needed to run the business.They will pay real property taxes on the building and land and personal property taxes on the decorations and equipment.

Which of the following prohibits monopolies,attempts to monopolize,and any restraint of trade?

The changing nature of U.S.business from manufacturing to knowledge technology has led to the call for new levels of regulation from federal agencies.

When the airline industry was deregulated in 1980 consumers benefited because airlines established new routes and charged lower fares.

A patient injured through the negligence of a health care provider can be awarded compensation through the tort law system.

Mini-Case Brian and Sondra have just opened a new Cajun restaurant on the edge of town,Cajun Cookin' Inc.They own the land and building and have a brand-new kitchen as well as a lovely seating area,filled with mementos from the South.They have a liquor license and make wonderful Southern drinks.They are quite pleased that members of the community are helping their business grow by coming in for a meal or a drink after work.They are good businesspeople who pay their bills on time and as a result have great relationships with the vendors that supply them food. -Cajun Cookin' sits on a large landscaped lot.Brian and Sondra have a contract with Lovely Landscapes to mow the lawn and take care of the landscape.They pay $200 per month for this service.After two weeks had gone by with no service,Brian called the company only to find out that the owner and the crew had decided to take a vacation and would not be back to do the landscaping for another two weeks.Lovely Landscapes: