BUL 3130 Midterm Exam Questions and
Answers 100% Pass | 20204/2025 Update
Antitrust Law - 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 - A company's sale of stock shares is mainly gove...
Antitrust Law - ✔✔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 - ✔✔A company's sale of stock shares is mainly governed
by which type of law?
regulatory - ✔✔Another term for "administrative law" is
__________________ law.
false - ✔✔The executive branch of the US government is responsible for
making laws. True or False?
all of the above - ✔✔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 - ✔✔Valid federal laws take precedence over any conflicting state or
local laws. True or False?
True - ✔✔The English common law system relied heavily on precedent.
True or False?
False - ✔✔There are two major court systems in the United States the
federal court and the bankruptcy courts. True or False?
False - ✔✔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 - ✔✔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 - ✔✔Courts of limited jurisdiction include?
-US Tax Court
-US Bankruptcy Court
-Court of International Trade
-All of the above
compensate a party - ✔✔Civil laws are designed to
___________________ for a loss.
,False - ✔✔Party A cannot bring a lawsuit against Party B unless Party B
has violated a statute. True or False?
equity - ✔✔Specific performance is an example of a remedy at
____________.
-Equity
-Statute
-Admission
-All of the above
-parties to a lawsuit
State Statutes - ✔✔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 - ✔✔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 - ✔✔OSHA - the Occupational Health and Safety Administration is an
example of a state administrative agency. True or False?
false - ✔✔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 - ✔✔State courts of one state are not required to follow the legal
precedent established by the courts of another state. True or False?
executive - ✔✔The ________ branch of the federal government has the
power to enforce the law.
-judicial
-legislative
-executive
-commissary
false - ✔✔A sole proprietor must go through many levels of approval before
selling his or her business. True or False?
false - ✔✔In a sole proprietorship, the business is considered a separate
legal entity from the proprietor. True or False?
true
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