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LAW 531T Marvelous Teaching / snaptutorial.com

<br>WEEK 1 APPLY ASSESSMENT LAW 531<br> <br>1) In the context of a court case process, what is the definition of mediation?<br> <br> Request for higher court to review a caseuf0d8<br> Using a third party (specifically) to resolve a disputeuf0d8<br>

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LAW 531T Marvelous Teaching / snaptutorial.com

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  1. LAW 531T Apply Week 1 Assessment (100% Correct) For more classes visit www.snaptutorial.com WEEK 1 APPLY ASSESSMENT LAW 531 In the context of a court case process, what is the definition of mediation? 1) Request for higher court to review a case Using a third party (specifically) to resolve a dispute Use of a third party to resolve a dispute, often legally binding Changing a trial court’s decision In the context of a court case process, what is the definition of affirmation? 2) Ratification of a trail court’s decision. Changing a trial court’s decision. Using compromise to settle a dispute. Returning a case to a trail court for resolution.

  2. 3) In the context of a court case process, what is the definition of rejoinder? Decision of the jury. Decision of the court. Request for a higher court to review a case. Defendant’s answer to the plaintiff. In the context of a court case process, what is the definition of impeachment? 4) Plaintiff’s challenge to defendant’s claim No other explanation can be derived from the facts- evidence. Reducing the integrity of a witness’s claim Restoring credibility to a witness’s claim. In the context of a court case process, what is the definition of defendant? 5) Court order to appear in trail. Decision of the jury. The target of a complaint. Restoring credibility to a witness’s claim. In the context of a court case process, what is the definition of sequestered? 6) First-sight evidence. Evidence assuming assent of the reasonable person. First-sight evidence. A jury is separated from the community during a trial.

  3. In the context of a court case process, what is the definition of deposition? 7) A jury is enlisted. Summoning of potential jurors. Testimony out of court during pretrial investigation Determination of jurors’ fitness for jury duty. 8) In the context of a court case process, what is the definition of default? Failure to the defendant to fulfill on obligation. Court order to appear in trail. The target of a complaint. Filer of a complaint. After a tragic event in which an armed intruder storms into a mall and fatally shoots several people, the city of Belmonte institutes a law that prohibits any form of weapon in public retail establishments. This retain would be an example of following which school of jurisprudential thought? 9) Sociological Command Irrational Forces Historical Perspective Laws that are meant to promote free trade and market efficiency likely fall under which school of jurisprudential thought? 10)

  4. Irrational Forces Command Law and Economics Natural Law A new law is established in the town of Avery that promotes affirmative action employment for trans-gender and homosexual individuals. This law would be in pursuance of the tenets of ____ School of jurisprudential thought. 11) Law and economics Sociological Irrational Forces Historical Which jurisprudential school of thought relies the most upon precedent in establishing law? 12) Sociological Natural Law Historical Law and economics ***********************************************

  5. LAW 531T Apply Week 2 Assessment (100% Correct) For more classes visit www.snaptutorial.com Week 2 Apply Assessment Below is a copy of a 2005 complaint filed by the U.S. Justice Department against the Zeon Chemical company for antitrust violations. Read through the complaint and answer the following questions. You have ONE attempt at this Apply Assessment. There is no time limit but you must finish and submit your answers by the due date and time. That means that if you start this assessment too late in the week and you are still working on it when the due date and time are reached, the assessment will automatically submit with what you have finished and any unanswered questions will be counted as incorrect. Do not wait until the last minute. Start the assessment early and use the time to look- up material that you need to consult so that you can answer the question.

  6. ________________________________________________________ ______________________ BARBARA J. NELSON (CSBN 87952) BRIGID S. BIERMANN (CSBN 231705) Antitrust Division No. CR 05 0017 SI INFORMATION VIOLATION: Title 15, United States Code, Section 1 (Price Fixing) San Francisco Venue The United States of America, acting through its attorneys, charges: I. DESCRIPTION OF THE OFFENSE 1. ZEON CHEMICALS L.P. is made a defendant on the charge stated below.

  7. 2. Beginning on or about May 14, 2002, and continuing until on or about December 31, 2002, defendant and co-conspirators participated in a combination and conspiracy to suppress and eliminate competition by increasing and maintaining the price of acrylonitrile-butadiene rubber (“NBR”) sold in the United States and elsewhere. The combination and conspiracy engaged in by the defendant and co-conspirators was in unreasonable restraint of interstate and foreign trade and commerce in violation of Section 1 of the Sherman Act (15 U.S.C. § 1). 3. The charged combination and conspiracy consisted of a continuing agreement, understanding, and concert of action among the defendant and co-conspirators, the substantial term of which was to suppress and eliminate competition by increasing and maintaining the price of NBR in the United States and elsewhere. 4. For the purpose of forming and carrying out the charged combination and conspiracy, the defendant and co-conspirators did those things that they combined and conspired to do, including, among other things: 1. participating in conversations and meetings to discuss prices of NBR to be sold in the United States and elsewhere; 2. agreeing, during those conversations and meetings, to raise and maintain prices of NBR to be sold in the United States and elsewhere; and 3. issuing price announcements and price quotations in accordance with the agreements reached.

  8. II. DEFENDANT AND CO-CONSPIRATORS 5. The defendant is an entity organized and existing under the laws of the state of Delaware, with its principal place of business in Louisville, Kentucky. During the period covered by this Information, the defendant and its subsidiaries sold NBR in the United States and elsewhere. 6. Various corporations and individuals, not made defendants in this Information, participated as co-conspirators in the offense charged herein and performed acts and made statements in furtherance of it. 7. Whenever in this Information reference is made to any act, deed, or transaction of any corporation, the allegation means that the corporation engaged in the act, deed, or transaction by or through its officers, directors, employees, agents, or other representatives while they were actively engaged in the management, direction, control, or transaction of its business or affairs. III. TRADE AND COMMERCE 8. NBR is used to manufacture, among other things, hoses, belting, cable, o-rings, seals, adhesives, and sealants. 9. During the period covered by this Information, the defendant and co-conspirators manufactured, sold, and distributed NBR in a continuous and uninterrupted flow of interstate and foreign trade and commerce to customers located in states or countries other than the states or countries in which the defendant and co-conspirators produced NBR. 10. The business activities of the defendant and co-conspirators that are the subject of this Information were within the flow of, and substantially affected, interstate trade and commerce. IV. JURISDICTION

  9. 11. The combination and conspiracy charged in this Information was carried out, in part, in the United States within the five years preceding the filing of this Information. 1. What is the stated cause of action? o an attempt to suppress and eliminate competition o combination and conspiracy to increase and maintain the price of NBR o unreasonable restraint of interstate and foreign trade and commerce o all of the above 15 / 15 (100.0%) 2. Which antitrust law did the defendant violate? o Clayton Act o Taft-Hartley Act

  10. o Federal Trade Commission Act o Sherman Act 14 / 14 (100.0%) 3. Which of the following is NOT an element of this complaint? o a description of the defendant and co- conspirators o an explanation of the offense o a description of the legal action that will be taken against the defendant o a conclusion that the defendant’s actions significantly affected interstate commerce 14 / 14 (100.0%) 4. Which of the following was an illegal act by the defendant?

  11. o embezzling funds to maintain their business structure o participating in conversations and agreements with co-conspirators to maintain the price of their product o raising the price of their product o using deceptive practices to lie to consumers about the actual price of the product 14 / 14 (100.0%) 5. This is an example of which type of trade restraint? o horizontal o vertical o monopoly o none of the above 14 / 14 (100.0%)

  12. 6. Which method did Zeon Chemicals L.P. use to restrain trade, based on the complaint? o division of markets o exclusive dealing agreement o price fixing o all of the above 14 / 14 (100.0%) *********************************************** LAW 531T Apply Week 3 Assessment (100% Correct)

  13. For more classes visit www.snaptutorial.com 1. MakerMan Manufacturing creates heavy-duty hand tools. It produces a new collapsible hammer called the SmackN’Stash. One of the first purchasers of the hammer, Rob, is using it at a construction site when the hammer’s head flies off and injures his coworker Cliff. How does the concept of strict liability apply to this situation? o Product liability torts require Rob to show that one or more of the design or manufacturing elements is defective. o When companies sell defective products to consumers who are injured, liability will result without having to show that the manufacturer breached the duty of care. o Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product. o While using a collapsible hammer is a dangerous activity, it is not of the type of danger that would subject MakerMan to strict liability. Use the following information to answer questions 1–5. 17 / 17 (100.0%) 2. How does the concept of strict product liability apply to this situation? o Product liability torts require Rob to show that one or more of the design or manufacturing elements is defective. o While using a collapsible hammer is a dangerous activity, it is not of the type of danger that would subject MakerMan to strict product liability.

  14. Even if there is no defect in the product, the company may be responsible for failure to warn users how the product should be used. o When companies sell defective products to consumers who are injured, liability will result without having to show that the manufacturer breached the duty of care. o 17 / 17 (100.0%) 3. How does the concept of privity of contract apply to this situation? o When companies sell defective products to consumers who are injured, liability will result without having to show that the manufacturer breached a contract with the customer. o Product liability torts require Rob to show that one or more of the design or manufacturing elements is defective. o Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product. o Even if there is no defect in the product, the company may be responsible for failure to warn users how the product should be used. 17 / 17 (100.0%) 4. How does the concept of defective design/manufacturing apply to this situation? o When companies sell defective products to consumers who are injured, liability will result without having to show that the manufacturer breached the duty to warn. o Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product. o Product liability torts require Rob to show that one or more of the design or manufacturing elements is defective. o While using a collapsible hammer is a dangerous activity, it is not of the type of danger that would subject MakerMan to take care to avoid defective design or manufacturing. 17 / 17 (100.0%)

  15. How does the concept of manufacturer’s duty to warn apply to this situation? o Anyone who is injured by a defective product may sue the manufacturer, merchants, and all others who handled the product. o While using a collapsible hammer is a dangerous activity, it is not of the type of danger that would subject MakerMan to warning consumers about the product. o Even if there is no defect in the product, the company may be responsible for failure to warn users how the product should be used. o When companies sell defective products to consumers who are injured, liability will result without having to show that the manufacturer breached the duty to warn. 5. 17 / 17 (100.0%) *********************************************** LAW 531T Apply Week 4 Assessment (100% Correct)

  16. For more classes visit www.snaptutorial.com Week 4 Apply Assessment It’s time for the Bizlaw County auction! For each of the auction items listed below, you will (1) determine which type of property the item is and (2) give an identifier that further describes the nature of the item. A. A ring Hugh received from his grandmother several months before she died B. A motorbike Ned got from the Harley-Davidson store for $53,000 C. A motorless army jeep left on the plot of land Corey bought D. A pair of high-quality cleats that Candace found on the football field after a game E. A Sony Walkman that Mary left in her will for her nephew, Zeppelin F. The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired 1. Which type of property is item A?

  17. A ring Hugh received from his grandmother several months before she died 2. Which identifier describes the nature of item A? A ring Hugh received from his grandmother several months before she died - 3. Which type of property is item B? A motorbike Ned got from the Harley-Davidson store for $53,000 – purchase 4. Which identifier describes the nature of item B? A motorbike Ned got from the Harley-Davidson store for $53,000 – 5. Which type of property is item C? A motorless army jeep left on the plot of land Corey bought – 6. Which identifier describes the nature of item C? A motorless army jeep left on the plot of land Corey bought – 7. Which type of property is item D? A pair of high-quality cleats that Candace found on the football field after a game-

  18. 8. Which type of property is item D? A pair of high-quality cleats that Candace found on the football field after a game – 10. Which type of property is item E? A Sony Walkman that Mary left in her will for her nephew, Zeppelin 11. Which type of property is item E? A Sony Walkman that Mary left in her will for her nephew, Zeppelin – Gift 12. Which identifier describes the nature of item F? The lyrics to an unpublished song that famous rapper 11 Nickels gave to his daughter when he retired – 13. Which of the following is not true of offers? - An offeree’s silence may be counted as an agreement.

  19. 14. Which of the following constitutes grounds for canceling a contract? - Mutual mistake of fact 15. ___________ damages are designed to punish someone for breaching a contract and are usually only available in fraud or bad faith cases. 16. Which of the following contracts is required to be in writing? - A 17. A valid contract must include all of the following except which one? - 18. The __________ rule states that an offer made by one merchant to another may remain open for a set time during which it cannot be revoked. – 19. A person who owes a duty under a contract is called a (n) _________. – 20. A person who is owed a right under a contract is called a (n) ________

  20. *********************************************** LAW 531T Apply Week 5 Assessment (100% Correct) For more classes visit www.snaptutorial.com 1. Use the following information to answer questions 1–3. Darwin is a 60-year-old software engineer for Compuswerve, Inc. Recently, the company went through a reorganization process meant to revamp the business and the work it does. The directors want to rework

  21. the company as a fresh, hip business with cutting-edge knowledge from young, creative-minded employees. Obviously, Darwin doesn’t fit into the directors’ vision, so the managers wish to replace him. Sure enough, a few weeks later Compuswerve hires some new employees, and Darwin is offered a severance plan and dismissed. Which of the following, if true, would legally support the company’s decision to fire and replace Darwin? Check all that apply. o if Darwin had another job offer elsewhere o if the company was a private (non-governmental) organization if there were more highly skilled workers in the organization who could take his place o o if the company had fewer than 20 employees o if Darwin planned to retire in less than five years o if Darwin was unable to perform the essential functions of his job if Darwin needed a reasonable accommodation to perform his job due to a disability o Which law prevents employees like Darwin from discrimination in employment? 2. o affirmative action o ADEA

  22. o Title VII o ADA Are the company’s actions permissible, considering its mission and vision? 3. No, because Darwin was treated less favorably than younger employees based solely on his age. o o Yes, because age is not a protected class in employment law. No, because Darwin was not given compensation or allowed adequate time to find another job. o Yes, because the company is private and therefore has the right to hire or fire whomever they want to. o Visit the National Labor Relations Board website and explore the tabs on the website to answer questions 4–7. Additionally, please explore recent cases and decisions to learn more about what the NLRB does. 4. Who is the chairman of the NLRB?

  23. John F. Ring 5. What does the NLRB do? Select all the main functions of the board. o enforce orders o facilitate settlements o decide cases o draft legislation o investigate charges against employers o conduct elections o file charges against employers Conduct elections: The National Labor Relations Act provides the legal framework for private-sector employees to organize bargaining units in their workplace, or to dissolve their labor unions through a decertification election.

  24. Investigate charges: Employees, union representatives, and employers who believe that their rights under the National Labor Relations Act have been violated may file charges alleging unfair labor practices at their nearest NLRB regional office. Facilitate settlements: When a charge is determined to have merit, the NLRB encourages parties to resolve cases by settlement rather than litigation whenever possible. Decide cases: On the adjudicative side of the NLRB are 40 administrative law judges and a board whose five members are appointed by the president and confirmed by the Senate. Enforce orders: The majority of parties voluntarily comply with orders of the board. When they do not, the agency's general counsel must seek enforcement in U.S. Courts of Appeals. Parties to cases also may seek review of unfavorable decisions in the federal courts. What types of database information and reports does the website offer? Select all that apply. 6. o regulatory reports and notices o case activity reports o petitions and elections o inspector general notices o rules and regulations o performance reports

  25. 7. Where is the regional NLRB office that serves the state of Arizona? o Phoenix o Denver o Washington, DC o Albuquerque 10 / 10 (100.0%) Answer: Phoenix On the “About NLRB” tab, click on “Regional Offices” to see a map of all the NLRB regional offices. ***********************************************

  26. LAW 531T Apply Week 6 Assessment (100% Correct) For more classes visit www.snaptutorial.com • Use the following information to answer questions 1–3. Examine the SEC enforcement actions against violators of the FCPA on the “SEC Enforcement Actions: FCPA Cases” web page. Look at several different examples from the site. Note that detailed information about each case is available if you click on the name of the company. What are the typical repercussions for violators of the Act? • being prohibited from doing business • millions or even billions of dollars in penalties • forced bankruptcy • jail time

  27. • What kinds of unlawful activity did the guilty parties participate in? Check all that apply. • bribery • discrimination in employment • obtaining illicit government licenses • failure to implement internal accounting controls • sexual harrassment • improper payments • The SEC investigates illegal activity stemming from ________ companies and their representatives. • both U.S. and foreign • foreign • U.S. • Use the following information to answer questions 4–8. David borrows $3,000 from Melanie’s loan company in order to pay for a new car. A few months after the loan takes place, David falls behind on his payments. Melanie begins attempting to collect the money owed from David. She takes the following steps: Melanie calls David in the afternoon to discuss his payments, but he does not answer. Is this action permitted under the Fair Debt Collection Practices Act (FDCPA)? • no • yes • Melanie sends a letter marked “urgent” to David's address, but he sends no reply. Is this action permitted under FDCPA? • no • yes

  28. • Melanie visits David's house at 6 p.m. on a weekday, but nobody answers the door. Is this action permitted under the FDCPA? • yes • no • Melanie emails David’s employer to ask how and when she may contact David. Is this action permitted under the FDCPA? • yes • no • Melanie leaves a message on David’s answering machine, promising to call the police if he does not pay his debt. Is this action permitted under the FDCPA? • no • yes • Imagine that your company is offering securities for the first time and must register with the SEC. If you were to create a registration statement with the SEC, which of the following elements would you need to include? Check all that apply. • description of commerce activities that take place across state lines • name and location of the issuer • description of the securities being sold • factors that could affect the success of the business venture • proposed use of the proceeds • financial condition of the issuer • type of business organization of the issuer

  29. *********************************************** LAW 531T Entire Course For more classes visit www.snaptutorial.com LAW 531T Apply Week 1 Assessment (100% Correct) LAW 531T Apply Week 2 Assessment (100% Correct) LAW 531T Apply Week 3 Assessment (100% Correct) LAW 531T Apply Week 4 Assessment (100% Correct) LAW 531T Apply Week 5 Assessment (100% Correct) LAW 531T Apply Week 6 Assessment (100% Correct) LAW 531T Week 1 Discussion LAW 531T Week 1 Practice Assignment (100 % Correct) LAW 531T Week 2 Discussion LAW 531T Week 2 Practice Assignment (100 % Correct)

  30. LAW 531T Week 3 Discussion LAW 531T Week 3 Practice Assignment (100 % Correct) LAW 531T Week 4 Discussion LAW 531T Week 4 Practice Assignment (100 % Correct) LAW 531T Week 5 Discussion LAW 531T Week 5 Practice Assignment (100 % Correct) LAW 531T Week 6 Discussion LAW 531T Week 6 Practice Assignment (100 % Correct) *********************************************** LAW 531T Week 1 Discussion For more classes visit www.snaptutorial.com

  31. Discussion 1 What privacy or publicity concerns might a company have about the discovery process in traditional litigation? Imagine that a friend tells you about their idea to start a sports therapy clinic which they plan to operate as a sole proprietorship. Respond to the following in a minimum of 175 words: What benefits and risks would you advise your friend to be aware of? *********************************************** Respond to the following in a minimum of 175 words:

  32. In what ways has the internet and modern technology increased the potential for business tort and criminal liability? In what ways has the internet decreased these risks to businesses? *********************************************** LAW 531T Week 1 Practice Assignment (100 % Correct) For more classes visit www.snaptutorial.com Late Status: Late A(n) _________________ is a request for a higher court to review whether errors of law occurred in a case that was already decided in a lower court. 1.

  33. o remand o appeal o affirmation o reverse FEEDBACK 2 / 2 (100.0%) _________________ jurisdiction refers to the power of a court to exercise authority over the property involved in the dispute. 2. o Personal o Limited o Subject matter o General FEEDBACK 2 / 2 (100.0%) Courts of _________________ jurisdiction may hear many different types of cases. 3.

  34. o personal o general o subject matter o limited FEEDBACK 2 / 2 (100.0%) Under the doctrine of _________________, the U.S. Supreme Court may declare any law unconstitutional. 4. o judicial review o supreme review o constitutional review o legal review FEEDBACK 2 / 2 (100.0%) _________________ is a judgment entered by a court for one party and against another without a full trial. 5. o Judgement on the pleadings

  35. o Limited trial judgment o Pretrial judgment o Summary judgment FEEDBACK 2 / 2 (100.0%) The rule that a final judgment by a court determining the rights of the parties is conclusive and the issues may not be raised again is called _________________. 6. o common law o stare decisis o precedent o res judicata FEEDBACK 2 / 2 (100.0%) The doctrine of following the decision of a previous court ruling is known as _________________. 7. o precedent

  36. o common law o res judicata o stare decisis FEEDBACK 2 / 2 (100.0%) 8. Which of the following is not a stated purpose or function of the law? o to prevent undesirable behavior o to determine procedures for changing the law o to facilitate private arrangements between individuals o to govern a democracy with fairness FEEDBACK 2 / 2 (100.0%) Which school of legal thought expresses the idea that law changes to reflect a changing society ? 9. o the natural law school of thought

  37. o the historical perspective school of thought o the law and economics school of thought o the command school of thought FEEDBACK 2 / 2 (100.0%) Which of the following is an unacceptable reason to exclude a potential juror? 10. o The potential juror has a relationship with one of the parties. The defendant requests, without explanation, that a certain potential juror be removed from the jury. o The potential juror is female, and the defendant has requested an all-male jury. o o The potential juror has an interest in the outcome. FEEDBACK 2 / 2 (100.0%) The party at whom a complaint is directed is called the _________________. 11. o defendant

  38. o plaintiff o prosecutor o judge FEEDBACK 2 / 2 (100.0%) The party who files a complaint in a civil case is called the _________________. 12. o plaintiff o judge o prosecutor o defendant FEEDBACK 2 / 2 (100.0%) _________________ refers to the principle that an actual controversy must exist before a court will hear legal claims. 13. o Standing

  39. o Ripeness o Venue o Third party FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.7: Legal Concepts: Standing, Ripeness, and Venue 14. _________________ refers to the location of the trial. o Third party o Ripeness o Standing o Venue FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.7: Legal Concepts: Standing, Ripeness, and Venue

  40. Non-Judicial Dispute Resolution Alternatives: Match the dispute-resolution terms with the correct definition. 15. A legal expert listens to the matter and imposes a resolution. Arbitration A neutral third-party expert meets with the parties separately and then together, and offers compromise solutions. Mediation Parties attempt to settle disputes through compromise. Negotiation Document that outlines the terms of the compromise Settlement agreement FEEDBACK 2 / 2 (100.0%)

  41. Found in the following section(s) of the text: 1.13: Non-Judicial Dispute Resolution Alternatives 16. Which of the following is not true of the U.S. Constitution? o Every law in the U.S. must comply with the Constitution. o It authorizes that state laws have priority over it. o It establishes three branches of government. o It enumerates and protects citizens’ rights. FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.4: The Constitution and Business The _________________ Clause states that the U.S. Constitution and federal laws are the highest laws of the land. 17. o Supremacy o Commerce o Equal Protection o Due Process

  42. FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.4: The Constitution and Business 18. Which of the following describes substantive due process? A person has protected oral, written, and symbolic rights of expression. o o The laws of the United States must be equally applied to all citizens. Government laws must be clear, understandable, and designed to further a legitimate governmental purpose. o A person may not be deprived of life, liberty, or property without being given notice and an opportunity to be heard before a neutral arbiter. o FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.4: The Constitution and Business 19. Which of the following is not true of free speech?

  43. o It is a fundamental right guaranteed by the Bill of Rights. o It includes oral, written, and symbolic expression. Speech with a commercial purpose is less protected than speech with a political purpose. o Speech with a political purpose is less protected than speech with a commercial purpose. o FEEDBACK 2 / 2 (100.0%) Found in the following section(s) of the text: 1.4: The Constitution and Business True or false: The clear and convincing evidence burden of proof requires that the evidence presented is so clear that it requires the assent of every reasonable mind. 20. True False 21. FEEDBACK 22. 2 / 2 (100.0%)

  44. *********************************************** LAW 531T Week 2 Discussion For more classes visit www.snaptutorial.com Week 2 Discussion Sole Proprietorship Benefits and Risks Due Thursday - Respond to the following in a minimum of 175 words Imagine that a friend tells you about their idea to start a sports therapy clinic which they plan to operate as a sole proprietorship. What benefits and risks would you advise your friend to be aware of? ***********************************************

  45. LAW 531T Week 2 Practice Assignment (100 % Correct) For more classes visit www.snaptutorial.com True or false: Some small businesses may issue stocks to employees instead of compensation when money is tight. 1. • • Which of the following is not true of corporations? Directors will not be subject to lawsuit from shareholders as long as they act in a reasonable and prudent way. •

  46. Executives are not subject to the same duty of care in carrying out the corporation's purposes as the board of directors. • • The board of directors hires executives of a corporation. Executives carry out the day-to-day operations of the corporation. • • True or false: In a franchise agreement, the franchisor and the franchisee are separate legal entities. • • Which of the following is not true of general partnerships? Partners share profits and losses according to the partnership agreement. • Partners have an equal right to engage in the management of the business. •

  47. • Partners have joint ownership of business assets. • Partners must always agree to split the profits and losses evenly. • Corporations created to assist doctors, lawyers, accountants, and so on are known as _________________ corporations. • not-for-profit • closely held • alien • professional • True or false: Profits and losses from an LLC must be distributed in the same proportion to all members.

  48. • • Which of the following is true of general and limited partners in a limited partnership? • Limited partners are not liable for partnership debts. General and limited partners are jointly responsible for partnership debt. • • General partners are not liable for partnership debts. General partners are required to invest capital and refrain from managing the business. • • Which of the following is not true of a business operating under sole proprietorship? • A sole proprietor pays only personal taxes. No government approval is required to set up a sole proprietorship. • • A sole proprietorship is considered a separate legal entity. • If the owner dies, the business usually dies as well.

  49. • An administrative agency is prohibited from doing all but which of the following? • violating judicial decisions • exercising legislative power • extending beyond its authority • making arbitrary laws • Which of the following is true of administrative agencies? • All administrative agencies answer directly to the president. • Administrative agencies may overrule judicial decisions. • An existing administrative agency may not create a new law. • Each state and local government has administrative agencies.

  50. • _________________ establishes the protocol that must be followed by an administrative agency while enforcing a(n) _________________. • Substantive law; interpretive law • Procedural law; substantive law • Interpretive law; substantive law • Substantive law; procedural law • True or false: Production cost may be used as a defense against a company accused of price discrimination. • • The act of controlling prices for goods and services is known as _________________.

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