Download LPP Final Exam Questions and Answers: Business Law and Legal Concepts and more Assignments Ethics in PDF only on Docsity!
What type of audit involves oversight by outside sources, such as government or federal agencies? The external audit In the Kelo v CIty of New London Case, which constitutional amendment was applied? Fifth amendment What are the two categories of substantive law? Passed by the legislature, judicial procurements Horizontal separation of powers? separation of pwrs between the three branches of gov What is the term for how a person should act based on a group's determination of right and wrong? Ethics what are the three consequential system ethics theories Self interest theory, utilitarianism, and profit maximization the three Ps for triple bottom line people, profit, planet
Which amendment provides for the right for the indictment by a grand jury for capital offenses and infamous crimes? Fifth amendment What is the lowest of the three levels of courts in NY? Supreme court What are the Parties in a criminal case? prosecution and defendant What is an affidavit? signed statement of fact What is the court issued document stating the defendant needs to appear? Summons What is the territorial area within a state where the case should be tried and filed? venue In class we discussed the Walmart stores v Betty dukes case, where plaintiffs brought suit against their employer for alleged discrimination. What was the legal concept discussed in that case that we focused on in class? class action lawsuit
What is a legally enforceable agreement inferred from the circumstances and conduct of the parties? Implied contract What is the remedy where you receive money damages for a breach of contract action? legal remedy What type of damages are a fixed sum based upon the agreement between the parties? Liquidated damages What is it when one party seeks the courts help in undergoing a contract? recission What is the common law requirement that an acceptance could not vary from any terms stated in the offer? mirror image rule What is it called when a party receives something they had no prior legal right to receive? legal benefit What is the promise not to sue when a supposed claim is invalid? Forbearance
What is the term/rule that means a contract is illegal in and of itself? illegal per se What is it called when the process of making a contract is scrutinized by the court? Unconscionability What is a standardized contract entirely prepared by one party? Contract of adhesion Which of the following patentability requirements states the invention must not exist in any of the prior art? novelty How long does a utility patent last? 20 years from date of filing What type of patent infringement occurs when the patent includes parts A,B and C and the allegedly infringement widget includes parts A, B, C, and D? addition What is a distinctive word, name, symbol, or device that is not functional itself and that works to identify a particular good or service?
KYLE SUES MICHAEL FOR NEGLIGENCE. A JURY FINDS KYLE 51% RESPONSIBLE FOR HIS INJURIES AND
MICHAEL 49% RESPONSIBLE, WITH THE TOTAL DAMAGES IN THE AMOUNT OF $100,000. IN A STATE
WHERE MODIFIED COMPARATIVE FAULT APPLIES, WHAT DOES KYLE GET?
nothing What is not a category of strict liability defense? sales defect What is an easement obtained through adverse use? easement by prescription Under which type of concurrent ownership does the owner have the power to transfer rights? tenancy in common What is it called when a property is acquired from the government? Title by occupancy What type of deed exists when the grantor has title to the property and the right to convey, but it does not contain any express covenants as to the title validity? Bargain and sale of deed What is a lease with a set duration? stated period
Which of the following is not a NCAA policy prohibition for NIL deals? ?? What is a business org consisting of two or more owners who agree to carry on a business and to share profits and losses? general partnership What would not be considered a capital investment sufficient to receive credit for in a partnership? time What is a partner with no voice in the management of the partnership? silent partner What is the process of liquidating a business org? winding up What method of dissolution occurs when the partnership becomes impossible or illegal? By operation of law What is the latin term for conduct that is wrongful by its nature? Malum in se
LPP Final Exam (100 OUT OF 100) Questions
and Verified Elaborations (Latest Update)
What is a consent decree? Does not admit to wrongful doing but promises to fix behavior What was the first act created by congress under antitrust law that focused on exclusive dealing contracts and mergers? Clayton Act 1914 Which is not a per se violation for restraint of trade? the vertical one (all are horizontal) You can also click on terms or definitions to blur or reveal them Choose a st
