BUS 313 Midterm Exam Study Guide
-Slow down.
-Do not trust your first instinct.
-Remember your Life Principles. - ✔✔People may encounter ethical traps. How can ethical traps be
avoided? Choose three answers.
a reasonable expectation of privacy. - ✔✔The government must first obtain a warrant before
searching anyplace where someone has
a record intended to notify the general public that the secured party has a security interest in the
collateral. - ✔✔A financing statement is
about the same legal rights. - ✔✔Generally, in comparison to a donee beneficiary, a creditor
beneficiary has
accept the German work habits because he believes an action could be right even though he does
not believe it is right. - ✔✔Bran is CEO of an American company. Bran's company opens an office in
Germany. Bran visits the German office and is uncomfortable with some of the work habits of the new
German employees. If Bran applies moral relativism, he will
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adversary system. - ✔✔The United States has taken a position that legal issues are best resolved by
lawsuits involving parties with conflicting interests presenting their strongest possible case to a
neutral factfinder. Because of this, the legal system in the United States is considered a(n)
Allison is on notice that the check has an outstanding claim or other defect because it is overdue. -
✔✔Nick owes Allison money and gives Allison a check he had received from Becky to fulfill the debt
he owes Allison. The check is dated June 1. Allison receives the check from Nick on December 1.
Allison does not notice the date on the check. Which of the following statements is true?
Although there is no guarantee that ethical behavior pays in the short or long run, there is evidence
that the ethical company is more likely to win financially. - ✔✔Does ethical behavior maximize
profitability?
ambiguity - ✔✔A provision to a contract that is accidentally unclear is called
an exculpatory close - ✔✔Cristiane consults with an attorney about her divorce. After the
consultation, Cristiane decides to hire the attorney. The attorney gives Cristiane many forms to sign.
One form states, "If the attorney commits malpractice while representing the client, the client agrees
to not sue the attorney for the malpractice."
, appellate court - ✔✔Raisa is having her case heard by three or more judges and has no right to a
jury trial. Raisa is upset when she discovers that these judges will not hear from any witnesses or
hear any new evidence. Raisa's case is being heard by a(n)
applies online. - ✔✔The law of defamation
arises by accident. - ✔✔Negligence concerns harm that
asks the court to delete the offending clause and enforce the rest of the contract. - ✔✔A severability
provision
b. malware. - ✔✔The internet has ushered in a wave of crimes, including
be transferable in the marketplace, but in a limited manner. - ✔✔Negotiable instruments are meant
to
Blaise cannot be a holder in due course. - ✔✔Blaise purchases an instrument from Gabriel that
contains the language "ANY HOLDER OF THIS CONSUMER CREDIT CONTRACT IS SUBJECT TO
ALL CLAIMS AND DEFENSES WHICH THE DEBTOR COULD ASSERT AGAINST THE SELLER OF
GOODS OR SERVICES OBTAINED WITH THE PROCEEDS HEREOF." Which of the following
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statements is true?
check - ✔✔What is the most common form of a draft?
collateral - ✔✔The property subject to a security interest is called
competitors - ✔✔Dorit is head of marketing at a major corporation. Dorit wants to be sure the
marketing campaign for the company's latest product is effective. Dorit needs to consider if each of
the following groups finds the marketing campaign effective except
competitors - ✔✔Marco wants to act ethically in order to benefit the company. Which group would
not benefit from Marco's ethical conduct?
conditional promises. - ✔✔Provisions that a party agrees to perform only if the other side also does
what it promised are called
conformity - ✔✔Jamal was recently hired as a sales representative for a pharmaceutical company.
Jamal notices that all the other sales reps "pad" their expense accounts by claiming meals with
clients that never took place and then pocket the extra money. Jamal figures that because everyone
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