True or False:
1. Terms of a consulting contract are an example of private law. 2. A brief is written by a trial judge.
3. Sarbanes-Oxley is the most extensive regulation of companies since the 1933 and 1934 Securities laws. 4. The First Amendment prohibits state regulation of false advertising. 5. The decision of an administrative law judge can be appealed to the agency heads. 6. The U.S. sanctions against trade with Iran are an example of a unilateral trade sanction. 7. A tort is a private wrong carrying criminal penalties. 8. The language “as is” disclaims both the warranty of merchantability and the warranty of fitness for a particular purpose. 9. Only current landowners are liable for Superfund cleanups. FALSE 10. “I’ll take it, but you must deliver,” is a valid acceptance. FALSE 11. Void and voidable contracts are one and the same.
12. Regulation Z does not cover credit advertising.
13. A life estate is the highest level of land ownership.
14. Corporate officers are not liable for violations of the Sherman Act. FALSE 15. Personnel manuals have been haled to constitute an employment contract. 16. Only the hiring process is covered under Title VII. FALSE 17. The sale of the goodwill of a partnership requires unanimous consent. 18. A horizontal merger is a merger among competitors.
1. Bob’s Grocery merges with Pete’s Produce and becomes PB foods. The transaction is a: a. Merger
c. Tender offer
d. None of the above.
2. A partner is entitled to wages:
a. For all work done for the firm
b. Equal to the amount of his/her share of profits distributed c. When extra work is required
d. None of the above
3. The prohibitions on sex discrimination apply only to:
a. Job hiring decisions
c. Wage increases
d. A, b, and C