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LAW 531 Final Exam 51

Final exam covering legal principles and corporate law topics.

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    LAW 531 Final Exam 51 LAW 531 Final Exam 51 answers highlighted in green and underlined 1 Under the Anti - Cybersquatting Consumer Protection Act, which of the following is true? Penalties are imposed for obtaining any domain name that infringes on a valid trademark. Domain Names are granted only after ensuring that they do not infringe on a valid existing trademark. A plaintiff must show that the defendant acted in bad faith in order to recover. Prior approval by the affected celebrity is needed to obtain a domain name that is similar to a celebrity’s name. 2 The Hart - Scott - Rodino Antitrust Improvement Act led to rules requiring: That mergers be allowed if United States competitiveness in world markets is improved. That failing companies are rescued through mergers whenever possible. That the Federal Trade Commission and the Justice Department be notified in advance of any merger involving certain firms. That certain activities are classified as per se violations.

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    3 The landlord has the right to enter the leased premises: To make necessary repairs Only if specifically provided in the lease To inspect for waste To inspect for illegal use 4 Which for of real property ownership includes the greatest degree of ownership? Fee simple defeasible Fee simple limitless Absolute life estate Fee simple absolute 5 A doctrine that says a patent may not be granted if the invention was used by the public for more than a certain period of time prior to the filing of the patent application is known as; The public use doctrine The fair use doctrine

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    The bar to patents doctrine The public service doctrine 6 This form of alternative dispute resolution allows both parties to see the strengths and weaknesses of both sides of the case. Mini - trial Fact - finding Judicial referee Conciliation 7 Which of the following is a distinguishing feature of a common law legal system? The making of law by the judges and the following of precedent Requiring guilt be proven beyond a reasonable doubt An appeal process The sole source of law is a comprehensive civil code

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    8 The Sarbanes - Oxley Act was enacted as the result of: The failure of the savings and loans in the 1980s. The high profile accounting fraud cases in the 1990s and early 2000s. The terrorist attacks of Sept 11, 2001. The collapse of the housing market in the late 2000s. 9 Which of the following is true about sexual harassment in the workplace? Sexual harassment claims require that persons of both genders be involved. If a supervisor approaches someone and asks the person out for a social date, and if the supervisor acts in a socially customary manner, it will not be sexual harassment. Sexual harassment is covered under OSHA as part of workplace safety. The standards for a hostile work environment are extremely vague and depend on all the facts and circumstances. 10 Which form of alternative dispute resolution occurs when the parties choose an impartial third party to hear and decide their dispute? Arbitration

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    Minitrial Mediation Conciliation 11 According to Sarbanes - Oxley, this person or people should sign the Federal income tax return of a corporation: Board of Directors Chief Executive Officer Head of the accounting firm that prepares the corporation’s tax returns. Chief Executive Officer and Chief Financial Officer 12 Edward’s Warehouse stores a variety of generic goods for several distributors in Anytown. Which of the following describes Edward’s liability for the bailed goods should something happen to them? Comparative liability. Criminal liability. Ordinary negligence

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    Strict liability. 13 The tort of palming off involves: Making false statements about the goods of another Failing to credit another for that other person’s legal accomplishments Representing one’s own goods to be those of a competitor Knowingly selling goods that are defective. 14 If an LLC fails to follow formalities such as keeping minutes of meetings, then which of the following is true? Only the managers of a manager - managed LLC will lose limited liability. This failure will not result in imposing personal liability on any member. All members will lose their limited liability. Only the parties responsible for the failure will lose limited liability. 15 If a plaintiff voluntarily enters into or participates into a risk activity that results in injury, what is the most likely defense that he or she may use to a defendant’s claim that the plaintiff assumed the risk?

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