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BMAL 251|650 Revision Questions
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Jack Duncan was the beneficiary of an insurance policy his mother had. His mother passed away in 2015. Jack did not find the policy until January 2020. Jack filed a claim immediately with the insurance company for payment under the policy. The insurance company refused to pay on the policy citing that, under the terms of the policy, claims had to be submitted within 18 months of the death of the insured. Also, under the terms of the policy the statute of limitations for filing suit against the insurance company was four years. Which of the following statements is correct? - ✔ ✔ The insurance company's duty to perform was discharged by the 18-month condition subsequent for filing claims in the policy.
In which case will performance on the exact date specified in the contract most likely be deemed essential? - ✔ ✔ a sale of goods that fluctuate rapidly in value
In general, an assignee stands: - ✔ ✔ exactly in the position of the assignor
In a contract in which a tenant borrowed money from a bank for the purpose of adding a bathroom to her apartment, the landlord is: - ✔ ✔ an incidental beneficiary
If there is a time limitation or any other restriction in a contract, a third- party beneficiary: - ✔ ✔ is bound thereby
If no time period for performance is specified in a contract: - ✔ ✔ a reasonable time for performance will be implied
If the parties to a contract agree to undo the agreement and return any consideration involved, the contract is discharged by: - ✔ ✔ mutual recession
An offer to perform is known as a(n) _________. - ✔ ✔ tender
An obligor may delegate his or her duties to perform under a contract when the: - ✔ ✔ performance of the duty is standardized and nonpersonal.
An incidental beneficiary of a contract: - ✔ ✔ cannot sue to enforce the contract
The Toy Warehouse entered into a contract with Ruffle Teddy Bears on July 1, 2020, for the purchase of 200 of Ruffle's "Go to Sleep" bears that play music and have a heartbeat that help newborn babies sleep. The bears were scheduled for delivery on November 15, 2020. On November 1, 2020, because of consumer complaints about formaldehyde fumes from the bears, the Consumer Product Safety Commission required a recall of the bears and halted all sales. Which of the following is a correct statement about the rights of Toy Warehouse? - ✔ ✔ Because of the recall and ban, the subject matter of the contract is illegal and cannot be performed.
The city of Mesa, Arizona has allocated funds for the construction of a new training facility intended to benefit veterans. The funds allocated are discretionary funds. Before the city could enter into a construction contract for the veterans facility, one of the city's firehouses was
When a buyer assigns the right to goods under a contract, the buyer's liability to make payment to the seller is: - ✔ ✔ still in effect
When a debtor makes a payment to a creditor specifying how it should be applied, the creditor must apply the payment: - ✔ ✔ as directed by the debtor
The phrase "time is of the essence" means that: - ✔ ✔ performance under the contract at the times specified in the contract is vital or essential.
The death or disability of a party to a contract discharges the contract when: - ✔ ✔ personal services requiring peculiar skill are involved.
A discharge by operation of law occurs in all of the following situations except: - ✔ ✔ accord and satisfaction
A contract may be discharged in all of the following scenarios except: - ✔ ✔ weather conditions
A contract can be discharged by impossibility in all the following scenarios except: - ✔ ✔ performance under the contract becomes 25% more expensive due to currency fluctuations in construction contract.
Which of the following will not discharge the obligation to perform a contract? - ✔ ✔ rampant inflation that increases prices 33 percent
Which of the following is not an element of an accord and satisfaction?
- ✔ ✔ reservation of rights under the federal Consumer Credit Protection Act
Which of the following is not a third-party beneficiary contract? - ✔ ✔ a contract to repair sewers in front of Macy's Department Store
Which of the following events excuses a promisor from performing his or her contractual obligations? - ✔ ✔ destruction of the subject matter through no fault of either party
Which of the following duties would most likely not be delegable? - ✔ ✔ Andy has a duty to teach an accounting class at a community college during the fall semester.
Which of the following contracts could not be assigned? - ✔ ✔ a borrower's line of credit
When performance is impeded due to the occurrence of an event whose nonoccurrence was a basic assumption of the contract, the contract may be discharged on the grounds of: - ✔ ✔ commercial impracticability
A homeowner who refinances her home mortgage may cancel the transaction: - ✔ ✔ within three business days
An assignment is valid only if: - ✔ ✔ there is a manifestation of the intent to assign
Bankruptcy results in a discharge of contractual obligations by __________. - ✔ ✔ operation of law
In most bilateral contracts, the performances of the parties are __________. - ✔ ✔ concurrent conditions
Sales of goods transactions are subject to a statute of limitations period of: - ✔ ✔ four (4) years
__________ occurs when a party expressly declares that performance will not be made when required. - ✔ ✔ Anticipatory repudiation
A bailee's interest in the bailed property can be characterized as: - ✔ ✔ possession
A bailee's __________ gives the bailee the right to maintain possession of the bailed property until reasonable storage and/or repair charges are paid. - ✔ ✔ lien
A contractual provision which states that a waiver of rights will not constitute a modification to the contract is: - ✔ ✔ enforceable
A gift causa mortis does not become irrevocable until the donor ______ from the contemplated event, but it is ______ revoked if the donor survives. - ✔ ✔ dies, automatically
A person becomes a(n) __________ at the moment of taking possession of abandoned personal property. - ✔ ✔ owner
A provision stipulating the amount of money damages to be paid in the event of default or breach of contract is known as a __________ damages clause. - ✔ ✔ liquidated
A third person to whom a joint tenant's interest is transferred becomes a: - ✔ ✔ tenant in common
An action for injunctive relief may be granted: - ✔ ✔ if the breach consists of doing a prohibited act
Bailments may be: - ✔ ✔ created orally or through a writing
Barry and Eldridge owned Blueacre as tenants in common. Eldridge died. Blueacre is owned: - ✔ ✔ by Barry and Eldridge's heirs
Between experienced businesspersons, exculpatory clauses are generally: - ✔ ✔ valid
The damages that are typically recoverable when a contract has been breached and one party has suffered loss are called: - ✔ ✔ compensatory damages
To be eligible for FMLA leave, an employee must have been employed by a covered employer for at least __________ months and have worked at least __________ hours during the 12-month period preceding the leave. - ✔ ✔ 12; 1,
Under which circumstance will an employee not be entitled to Workers' Compensation benefits for an on-the-job injury? - ✔ ✔ an injury that is the result of an employee's intoxication
What is an employer defense to a disparate impact charge? - ✔ ✔ The employment practice is job-related and consistent with business practice.
What is the principal law regulating equal employment opportunity in the United States? - ✔ ✔ Title VII of the Civil Rights Act of 1964
When an employee alleges religious discrimination because of an employee-observed religious practice: - ✔ ✔ the employer must make reasonable efforts to accommodate religious beliefs.
Which of the following is not an example of limited or special jurisdiction court? - ✔ ✔ Court of original jurisdiction
Which is not considered an alternate means of dispute resolution? - ✔ ✔ civil lawsuit
When testifying at trial, the witness for the plaintiff will undergo ______ by the plaintiff's attorney, and a(n) _______ by defense counsel. - ✔ ✔ direct examination, cross-examination
When a defendant files a(n) _______ he is attacking the plaintiff's pleading as not stating a cause of action or defense. - ✔ ✔ motion to dismiss
The right to privacy applies to protect you from unreasonable searches in all of the following scenarios except: - ✔ ✔ in the commission of a crime
The right of privacy consists of: - ✔ ✔ both the right to be secure against unreasonable searches by the government and the right to protection against intrusions by others.
the types of civil cases that a private citizen can file in federal district courts include: - ✔ ✔ cases between citizens of different states that involve damages of $75,000 or more.
A(n) ________ is the power to adopt laws that protect the general welfare, health, safety, and morals of the people. - ✔ ✔ State's police power
According to the book "Building and Growing a Business Through Good Times and Bad," companies with 100 years of consistent dividends: - ✔ ✔ have a strong commitment to values
Congress passed a law that applied to the presence of guns on high school campuses. The hearings on the legislation focused on the dangers to students and the need for greater safety. Several states challenged the constitutionality of the federal statute. Which of the following provisions/principles of the U.S. Constitution did they use as a basis for their challenge? - ✔ ✔ commerce clause
Failing to leave a note on the windshield of a car that you struck in a store parking lot: - ✔ ✔ violates the Kantian standard of ethics.
The Center for Economic Policy is a nonprofit corporation that has developed ads that will run in opposition to a candidate for governor in the state in which the Center is located. Which of the following statements is correct? - ✔ ✔ this type of speech is protected but requires disclosure of the source of funding for the ad
Powers delegated to the national government that may be exercised by the states are referred to as _______ - ✔ ✔ shared powers
The NBA has been supportive of public protests related to human rights in the United States. However, in order to protect their business interests in China, the NBA has not supported human rights protests occurring in China. Which ethical theory does the NBA follow? - ✔ ✔ moral relativism
A ______ is a legal principle expressed for the first time in court decision. - ✔ ✔ precedent
Which of the following laws would be part of federal (congressional) statutory law? - ✔ ✔ consumer credit protections
Which of the following is an example of procedural law? - ✔ ✔ the time limits for filing a civil lawsuit
The right to privacy means that individuals: - ✔ ✔ are protected against intrusions by others
The right to an abortion was held to exist: - ✔ ✔ under the U.S. Constitution
The landlord's duty that corresponds with the right of a tenant to have an apartment in working order and good condition is: - ✔ ✔ providing hot and cold running water
The United States Supreme Court was created by: - ✔ ✔ The U.S. Constitution
Suppose Jack signs a contract to purchase a home from Jill, but Jill later refuses to transfer title to the home to Jack. Jack could force Jill to transfer title to the home by asking a court for an order of ________ - ✔ ✔ specific performance
A deposition is or can accomplish any of the following except - ✔ ✔ can be used to dismiss the lawsuit
A good example of a uniform state law would be: - ✔ ✔ the Uniform Commercial Code
A motion for a directed verdict is appropriate: - ✔ ✔ immediately after the presentation of all evidence at trial.
A right can exist: - ✔ ✔ only if there is a corresponding duty
A summary jury trial is: - ✔ ✔ a mock trial
Administrative regulations: - ✔ ✔ generally have the force of statute
Original jurisdiction courts are generally _________ - ✔ ✔ trial courts
One of the motions that can be made after a verdict has been entered is a motion for a: - ✔ ✔ judgement notwithstanding the verdict
Law is: - ✔ ✔ a body of principles that society establishes to keep things running smoothly
Law consists of: - ✔ ✔ principles that govern conduct
Judicial Triage is all of the following except: - ✔ ✔ directed verdict
In mediation, the mediator acts as a(n): - ✔ ✔ messenger
If your home or business is searched unlawfully, any items obtained during that unlawful search could be excluded as evidence in a criminal trial because of the ________. - ✔ ✔ Fourth Amendment's exclusionary rule
If a court issues an injunction, the court would be ordering a(n) _________ - ✔ ✔ equitable remedy
Garnishment applies to the judgement debtor's - ✔ ✔ wages
______ law creates, defines and regulates rights and liabilities - ✔ ✔ Substantive
Ethical egoists such as Ayn Rand hold that: - ✔ ✔ People always act in their own self-interest.
An ethical duty of confidentiality could be breached in any of the following situations except: - ✔ ✔ when a confidential informant tells government officials of illegal company activity.
All of the following situations reflect a possible conflict of interest except: - ✔ ✔ A CEO takes a cut in pay to decrease company overhead
A declaration of war: - ✔ ✔ can be enacted only by the national government
"Primum non nocere" is Latin for: - ✔ ✔ Above all, do no harm
Which of the following is not one of the tripartite components of the federal government - ✔ ✔ The Senate
Which of the following is not a question business ethicist Laura Nash has developed to help businesspeople reach the right decision in ethical dilemmas? - ✔ ✔ Does your proposed solution to the problem effectively balance the competing objectives of ethical decision-making and corporate profitability?
Which of the following is an example of a violation of natural law? - ✔ ✔ slavery
Which of the following groups is not a stakeholder on a corporation's decision to close down one of its plants - ✔ ✔ individual board members who make the decision
Which of the following amendments to the U.S. Constitution provides for due process protections? - ✔ ✔ Fifth Amendment
Immanuel Kant's categorical imperative theory: - ✔ ✔ requires that we avoid one-sided benefits as a result of ethical decisions.
In a living-document view, the U.S. Constitution is a document that: - ✔ ✔ must be interpreted to accommodate both stability and flexibility
In applying the "front-page-of-the-newspaper" test to a contemplated course of conduct one should ask: - ✔ ✔ Would I be willing to have my spouse, friends, and children read about this if it winds up on the front page of the newspaper?
Laws that prohibit defamation, invasions of privacy, and reputation exist primarily: - ✔ ✔ for protection of the person
Laws that prohibit mislabeling of food, speeding, and sale of alcohol to minors exist primarily: - ✔ ✔ for protection of public health, safety, and morals
Laws that prohibit theft, operation of a factory in areas zoned residential, and copyright infringement exist primarily: - ✔ ✔ for protection of property
Positive law: - ✔ ✔ is enacted by government authority
Rights theory includes all of the following except: - ✔ ✔ using others in a way that gives you a one-sided benefit
Which of the following is true about administrative agencies? - ✔ ✔ administration agencies make decisions that are rarely reviewed by the courts
Which of the following is not protected under the privileges and immunities clause? - ✔ ✔ right to go to another state and vote in local elections
Which of the following is not characteristic of the "living" Constitution?
- ✔ ✔ states' powers equal to federal powers
When the President negotiates a treaty with a foreign country and submits it to the Senate for approval, the president's action is: - ✔ ✔ an amendment by practice
voluntary improvements in value choices and business ethics are: - ✔ ✔ less costly and intrusive than those brought about by government regulation.
The passage of federal securities disclosure laws occurred largely as the result of: - ✔ ✔ the stock market crash of 1929
The importance of trust as a fundamental principle in capitalism is illustrated by expectations that: - ✔ ✔ investors will be able to earn a return on their investments.
The greatest changes to the written Constitution have been brought about by: - ✔ ✔ judicial interpretation
The due process clause: - ✔ ✔ provides a guarantee of protection against loss of rights or property without the chance to be heard.
The ethical category of integrity and truthfulness is best expressed as maintaining one's values and principles: - ✔ ✔ despite the consequences or costs
A significant difference between an administrative agency hearing and a court hearing is that: - ✔ ✔ there is no right of trial by jury before an agency
A subpoena to testify or to produce business records: - ✔ ✔ cannot be opposed on the grounds that such a request constitutes an unreasonable search and seizure.
A(n) __________ is a negotiated disposition of a matter before an administrative agency, generally without public sanctions. - ✔ ✔ informal settlement
Administrative hearings often have additional parties involved, called: - ✔ ✔ industry professional organizations
An administrative agency can be created to perform: - ✔ ✔ all three of the functions of government (executive, legislative, or judicial).
If an agency causes a substantial loss to a business by enforcement of its laws, that business: - ✔ ✔ may seek damages if the agency acted in bad faith.
If Mastercard prohibits a merchant from accepting other credit cards if it wishes to be able to accept Mastercard from customers, is an example of: - ✔ ✔ monopolization
