LWC1 Business Law Ethics

Topics: Ethics, Contract, Employment Pages: 5 (1919 words) Published: December 1, 2014
An individual makes an offer to buy an item from a company for 5,000. When is a contract for the purchase of the item created? when the offer is accepted by the company

What are the elements that make a contract enforceable?
agreement, consideration, capacity and legality

at what point is the contract implied
when the conduct of the parties indicates the terms of the contract

What action by a party to a contract constitutes breach of contract? One party refuses to perform one of the contract terms

Which type of remedy to breach of contract is COMPESATORY DAMAGES? expectation remedy

ABC company is dominant in a market that XYZ Company intends to enter. Which practice is a violation of antitrust laws? ABC prevents XYZ from using local private carriers by creating exclusive contracts with the carriers

What was the purpose of the Sherman Antitrust Act of 1890?
To prevent extreme concentrations of economic power

Which business practice would be a violation of the Clayton Antitrust Act of 1914? Companies A & B engage in exclusive talks to control prices to maintain high levels of profitability

What laws do the Federal Trade Commission enforce?
consumer laws

A store advertises a certain item for a sale price of 450.00. A customer goes to that store on the day of the advertisement to purchase the item. The salesperson indicates that the advertised item is out of stock but a more advanced model of the item is available for 550.00. What practice under the Federal Trade Commission Act has the store used? bait and switch

Which actions of a water bottling company would be regulated by the Environmental Protection Agency? selling bottled water

A power company receives a yearly emissions allowance. The Company is exceeding the allowable sulfur dioxide emissions under EPA regulations as authorized by the clean Air Act, and has used the entire emissions allowance. EPA requires the company to shut down unless it takes immediate action within EPA regulations. Which action can the power take to continue operating? buy more emmissions allowances

What is a violation of the Clean Water Act of 1972?
a city drains water from a wetlands area to develop the lands What is an example of alternative dispute resolution?
a meeting in which a mediator works with both parties

What is an advantage to using alternative dispute resolution rather than litigation? It involves negotiation directly between the parties.

When is arbitration an appropriate form of dispute resolution? When parties want a fast and final resolution

What is an activity of an appellate court?
reviewing the record in the case

Two adjoining property owners have a dispute over the boundary line between their properties. They wish to settle the dispute so each comes away with something, and they want to enter into a voluntary agreement. What method of dispute resolution should the parties employ? mediation

To which situation would the National Labor Relations Act of 1935 apply? Closure of a business and laying off employees

what is the principal provisions of the COBRA of 1985?
Offering continued health insurance for former employees

Who is covered by the provisions of the Fair Labor Standards Act of 1938? A child working on the family farm

What is a wrongful discharge under the law?
Discharging an employee for serving on a local jury

Which situation would be covered by OSHA?
Wet floors in the entrance of an office building

Which situation is an example of workplace discrimination
A female employee is refused a promotion after returning from maternity leave.

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Which business practice does Title VII of the Civil Rights Act of 1964 cover? recruiting

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Which action by an employer does the Age Discrimination in Employment Act of 1967 permit? Requiring all employees under age 30 to undergo drug testing

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