Question 1 of 20 | 5.0 Points |
In pre-trial discovery, if a business does not produce incriminating e-mails the court can instruct the jury that it can make negative inferences from the lost documents.Reset Selection
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Question 2 of 20 | 5.0 Points |
In litigation, indirect non-legal costs are roughly the same amount as direct legal costs.Reset Selection
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Question 3 of 20 | 5.0 Points |
All of the following are ways to lower business risk except:| A.stick to company business | | | B.always be respectful, courteous and constructive | | | C.keep matters confidential | | | D.take shortcuts to increase profits | |
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Question 4 of 20 | 5.0 Points |
Issuing a public apology for corporate wrongdoing will always result in increased litigation.Reset Selection
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Question 5 of 20 | 5.0 Points |
When answering a complaint the defendant can do all of the following except:| A.deny the allegations set forth in the complaint | | | B.list defenses | | | C.admit to the allegations set forth in the complaint | | | D.defer answering for 180 days | |
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Question 6 of 20 | 5.0 Points |
All of the following are methods of alternative dispute resolution except for:| A.mediation | | | B.litigation | | | C.arbitration | | | D.settlement | |
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Question 7 of 20 | 5.0 Points |
The monetary damage award set out by the court is the amount the prevailing party is guaranteed to receive from the losing party.Reset Selection
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Question 8 of 20 | 5.0 Points |
Examples of antitrust activities include all of the following except for:| A.price fixing | | | B.allocation of markets | | | C.standardization among trade association members | | | D.concerted refusal to deal | |
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Question 9 of 20 | 5.0 Points |
The grant of a patent is a limited "monopoly" and can run counter to the antitrust principle encouraging free and open markets.Reset Selection
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Question 10 of 20 | 5.0 Points |
All of the following are a type of contract except:| A.Express | | | B.Implied | | | C.Enduring | | | D.Unilateral | |
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Question 11 of 20 | 5.0 Points |
Which of the following is not a form of business organization?| A.Limited Liability Corporation | | | B.Partnership | | | C.Sole Proprietorship | | | D.Corporation | |
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Question 12 of 20 | 5.0 Points |
Identify the correct statement about liability in business organizations| A.A partner is not responsible for the debts of the partnership. | | | B.A sole proprietor is personally liable for all debts of the business. | | | C.A shareholder is responsible for the debts of the corporation. | | | D.A member is personally liable for the debts of the LLC. | |
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Question 13 of 20 | 5.0 Points |
The revenue from a Chapter C corporations is taxed twice.Reset Selection
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Question 14 of 20 | 5.0 Points |
The test for mental capacity to enter into a contract is whether the person has reached the age of majorityReset Selection
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Question 15 of 20 | 5.0 Points |
A partnership must prepare an income tax return but the partnership pays no income taxes itself.Reset Selection
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Question 16 of 20 | 10.0 Points |
Using only the course materials, describe three differences between a limited liability company and a corporation. Cite your sources.Question 17 of 20 | 10.0 Points |
Using only the course materials, list and provide examples for five defenses to a breach of contract claim. Cite your sources.
Question 18 of 20 | 10.0 Points |
List three types of contracts that must be in writing in order to be enforceable. What doctrine applies here? Use only the course materials and cite your sources.Question 19 of 20 | 10.0 Points |
Jim wants to sell his car to Marsha. Describe what elements would need to be present in order to have a valid contract. Would this contract fall under the UCC? Why or why not? Use only the course materials and cite your sources. |
Question 20 of 20 | 10.0 Points |
List at least three factors that weigh in favor of patents. List three factors that weigh in favor of trade secrets. Use only the course materials and cite your sources. |
Solution: APU BUS311 midterm exam