Business Law Answer Key

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Business Law Answer Key

This is a comprehensive key to all the questions, including some chapters which we did not cover. You are responsible only for chapters on the syllabus.

Ch. 1
A. 3
B. 5
C. 1
D. 2
E. 4

1. F
2. T
3. F
4. T
5. T
6. B
7. D
8. D
9. A
10. E

Ch. 3
A. 5
B. 4
C. 2
D. 1 - 3
E. 3 – 1
• Interrogatories is a pretrial procedure involving written questions to be signed under oath • Deposition is a pretrial procedure involving oral questions answered under oath 1. F

2. F
3. T
4. T- F
5. T
• About one half of all lawsuits settle before trail -) True • In a lawsuit for money damages, both the plaintiff and the defendant are generally entitled to a jury. -) True 6. E

7. D
8. C
9. C
10. D

Ch. 4
A. 5
B. 6
C. 1
D. 2
E. 3
F. 4
• Stare Decisis – The rule that requires courts to decide cases based on the precedent • Promulgate- The act an administrative agency creating a new rule

1. T
2. F- T
3. T
4. F
5. F
6. F
• The due process clause requires that any citizen is entitled to a jury trial before any right or property interest is taken -) False • Administrative agencies play an advisory role in the life of many industries but do not have the legal authority to enforce their opinions. -) False 7. D

8. B
9. C
10. D
11. C
12. B
• If Colorado passes a hotel tax of 8 percent for Colorado residents and 15 percent for out of state visitors. The new law is void, based on the commerce clause. • Which of these is an example of judicial review? A federal court declares a statute unconstitutional • What is an example of a subpoena? A court order requiring a deponent to answer questions. Ch. 5 - Perfect!!!!!!!

A. 4
B. 3
C. 6
D. 2
E. 1
F. 7
G. 5
1. F
2. F (not enough information; battery for sure)
3. T
4. F
5. T
6. D
7. A
8. C
9. C
10. C
Ch. 6
A. 3
B. 5
C. 1
D. 2
E. 4
1. F
2. T (depends in which state – state law differs on this point) 3. F
4. T-F
5. T
6. F
Some states are comparative negligence states but the majorities are contributory negligence states. -) False A landowner might be liable if a dinner guest fell on a broken porch step but not liable if a trespasser fell on the same place. -) True 7. C

8. D
9. D
10. C
Ch. 7
A. 5
B. 1 (this seems to be the best choice, although the definition sounds more like the Anti-Money Laundering Act rather than RICO, which was originally passed to combat organized crime). C. 4
D. 6
E. 3
F. 2
1. F
2. T
3. T
4. F
5. F
• Corporate officers can be convicted of crimes: corporation they cannot be -) False • An affidavit is the government’s formal charge of criminal wrongdoing. • Affidavit- a written statement signed under oath 6. D

7. E
8. A
9. A- E
10. B
• A prosecutor concerned that he may lack sufficient evidence to obtain a conviction may agree to an affidavit. • Professor asks Janice, his teaching assistant to please drive the professor’s car to the repair shop. Janice gets in and drives, not to the garage, but 1,400 miles farther west to Las Vegas. Janice has committed Embezzlement. Ch. 9

A. 4 (this is how the textbook defines implied contracts, but keep in mind that if you spell out the terms of a contract, this is going to be an express contract; an implied contract is one which can be inferred from the conduct of the parties) B. 5

C. 3
D. 1
E. 2
• Implied contract- An agreement based on words and actions of the parties • Consideration- Bargaining that leads to an exchange between the parties • Liquidated...
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