Antitrust Law correct answers If a company acquires too much market share in a particular industry, what area of law would be expected to have an impact on that company?
Securities Law correct answers A company's sale of stock shares is mainly governed by which type of law?
regulatory correct...
BUL 3130 Midterm || with 100% Accurate Solutions.
Antitrust Law correct answers If a company acquires too much market share in a particular
industry, what area of law would be expected to have an impact on that company?
Securities Law correct answers A company's sale of stock shares is mainly governed by which
type of law?
regulatory correct answers Another term for "administrative law" is __________________ law.
false correct answers The executive branch of the US government is responsible for making
laws. True or False?
all of the above correct answers The doctrine of stare decisis: ?
-is based on common law tradition
-works with case law decided by judges
-creates consistency through the use of precedents
-all of the above
True correct answers Valid federal laws take precedence over any conflicting state or local laws.
True or False?
True correct answers The English common law system relied heavily on precedent. True or
False?
False correct answers There are two major court systems in the United States the federal court
and the bankruptcy courts. True or False?
False correct answers A statute of limitations (requiring a case to be brought within a certain
period of time) is an example of a substantive law. True or False?
False correct answers US Supreme Court justices are appointed by the president and then
affirmed every 4 years by a vote of the general population. True or False?
all of the above correct answers Courts of limited jurisdiction include?
-US Tax Court
-US Bankruptcy Court
-Court of International Trade
-All of the above
compensate a party correct answers Civil laws are designed to ___________________ for a loss.
False correct answers Party A cannot bring a lawsuit against Party B unless Party B has violated
a statute. True or False?
equity correct answers Specific performance is an example of a remedy at ____________.
,-Equity
-Statute
-Admission
-All of the above
-parties to a lawsuit
State Statutes correct answers Which of the following sources of law is created by a legislative
body?
-Constitutional Law
-State Statutes
-Case Law
-Common Law
-All of the above
prevention correct answers A snack food company places a warning label that its snacks may
contains nuts and other allergens. This is an example of which liability-reduction strategy?
false correct answers OSHA - the Occupational Health and Safety Administration is an example
of a state administrative agency. True or False?
false correct answers Businesses that are organized in the United States are subject to its laws,
but not to the laws of other countries in which they do business. True or False?
True correct answers State courts of one state are not required to follow the legal precedent
established by the courts of another state. True or False?
executive correct answers The ________ branch of the federal government has the power to
enforce the law.
-judicial
-legislative
-executive
-commissary
false correct answers A sole proprietor must go through many levels of approval before selling
his or her business. True or False?
false correct answers In a sole proprietorship, the business is considered a separate legal entity
from the proprietor. True or False?
true
(doing business as) correct answers The designation of d.b.a. refers to the description for a
business that is operating under a trade name. True or False?
false
(fully and personally liable for business debts) correct answers A sole proprietor has limited
personal liability. True or False?
, true
(not a separate entity, so all taxes are reported and paid on individual owner's return.) correct
answers A sole proprietorship does not does not pay taxes at the business level. True or False?
true
(Share of profits indicates ownership as partners/a partnership) correct answers Receipt of a
share of business profits is prima facie evidence of a general partnership. True or False?
true
(Taxes are passed through to the individual partners (no tax is paid on the entity level). correct
answers General partnerships do not pay federal income taxes. True or False?
false
(All partners are liable for debts of the partnership upon dissolution, and incoming partners are
liable for debts after becoming a partner.) correct answers The dissolution of a general
partnership discharges the liability of an outgoing partner for existing partnership debts and
obligations. True or False?
true
(profits paid last) correct answers Upon dissolution, profits are paid out to partners only after
creditors and capital contributions have been satisfied. True or False?
false
(Limited partners are not liable beyond the amount of their contribution.) correct answers
Limited partners have unlimited personal liability for the debts and obligations of the limited
partnership. True or False?
no state government approval is required correct answers Which of the following is true of
creating a sole proprietorship?
-No state government approval is required.
-Federal taxation is levied upon sole proprietorship
-No licenses are required to do business within a city or state
-Special permission must be obtained to receive a sole proprietorship status.
-None of the above
the proprietor's personal income tax filing correct answers The earnings and losses from a sole
proprietorship are reported on ________.
-the federal income tax filing document for the business
-the business license that is renewed each year
-the proprietor's personal income tax filing
-the state income tax filing document
-Federal estate and gift taxation form
False
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