Legal & Ethical Issues Mid Term
MGMT 625
Midterm Exam
TRUE/FALSE QUESTIONS (2 POINTS EACH)
1. The stability and predictability of the law is essential to business activities.
ANSWER: TRUE
2. Uniform laws apply in all states, including those in which the laws have not been adopted.
ANSWER: FALSE
3. A state law that conflicts with the U.S. Constitution will be deemed unconstitutional.
ANSWER: TRUE
4. Damages is a remedy at law.
ANSWER: TRUE
5. Equitable remedies include injunctions and decrees of specific performance.
ANSWER: TRUE
6. How the courts interpret a statute determines how that statute is applied.
ANSWER: TRUE
7. Minimum contacts with a jurisdiction are never enough to support jurisdiction over a nonresident defendant.
ANSWER: FALSE
8. Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case.
ANSWER: TRUE
9. Any lawsuit involving a federal question can originate in a federal court.
ANSWER: TRUE
10. Venue is the term for the subject matter of a case.
ANSWER: FALSE
11. The federal equivalent of a state trial court is a U.S. court of appeals.
ANSWER: FALSE
12. Alternative dispute resolution refers to any method for resolving a dispute outside the court system.
ANSWER: TRUE
13. An arbitrator can never render a legally binding decision.
ANSWER: False 14. The checks and balances in the U.S. Constitution prevent any one branch of government from exercising too much power.
ANSWER: TRUE
15. When there is a direct conflict between a federal and a state law, the state law is rendered invalid.
ANSWER: TRUE 16. The First Amendment does not protect commercial speech as extensively as noncommercial speech.
answer: TRUE 17. A business firm's profits may suffer if the firm acts unethically.
ANSWER: TRUE
18. An ethics program can clarify what a company considers to be unacceptable conduct.
ANSWER: TRUE 19.
Midterm Exam
TRUE/FALSE QUESTIONS (2 POINTS EACH)
1. The stability and predictability of the law is essential to business activities.
ANSWER: TRUE
2. Uniform laws apply in all states, including those in which the laws have not been adopted.
ANSWER: FALSE
3. A state law that conflicts with the U.S. Constitution will be deemed unconstitutional.
ANSWER: TRUE
4. Damages is a remedy at law.
ANSWER: TRUE
5. Equitable remedies include injunctions and decrees of specific performance.
ANSWER: TRUE
6. How the courts interpret a statute determines how that statute is applied.
ANSWER: TRUE
7. Minimum contacts with a jurisdiction are never enough to support jurisdiction over a nonresident defendant.
ANSWER: FALSE
8. Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case.
ANSWER: TRUE
9. Any lawsuit involving a federal question can originate in a federal court.
ANSWER: TRUE
10. Venue is the term for the subject matter of a case.
ANSWER: FALSE
11. The federal equivalent of a state trial court is a U.S. court of appeals.
ANSWER: FALSE
12. Alternative dispute resolution refers to any method for resolving a dispute outside the court system.
ANSWER: TRUE
13. An arbitrator can never render a legally binding decision.
ANSWER: False 14. The checks and balances in the U.S. Constitution prevent any one branch of government from exercising too much power.
ANSWER: TRUE
15. When there is a direct conflict between a federal and a state law, the state law is rendered invalid.
ANSWER: TRUE 16. The First Amendment does not protect commercial speech as extensively as noncommercial speech.
answer: TRUE 17. A business firm's profits may suffer if the firm acts unethically.
ANSWER: TRUE
18. An ethics program can clarify what a company considers to be unacceptable conduct.
ANSWER: TRUE 19.