Questions and Answers of Dynamic Business Law

Describe the jurisdiction of U.S. courts over international disputes.
Describe the World Trade Organization(WTO) and explain how its dispute-resolution procedure works.
Describe the trade organizations of Africa.
Describe the trade organizations of South America, Central America, and the Caribbean.
Describe the Organization of the Petroleum Exporting Countries (OPEC) and list the countries that belong to OPEC.
Describe the trade organizations of Asia and the Indo-Pacific region.
Describe the United States–Mexico–Canada Agreement (USMCA) and the relevant provisions of the treaty.
Describe the European Union (EU) and list the countries that belong to the EU.
Define bilateral trade agreement and regional trade agreement and describe the purpose of such agreements.
Describe the functions, governance, and organization of the United Nations.
Describe the U.S. government’s power under the Foreign Commerce Clause and Treaty Clause of the U.S. Constitution.
Explain child custody and visitation rights of parents.
Explain the responsibilities for the payment of spousal and child support.
Describe how assets are divided upon divorce and annulment.
Describe a prenuptial agreement and what issues are usually addressed in a prenuptial agreement.
Describe marriage termination by annulment and divorce.
Explain parents’ rights and duties for their children.
Define same-sex marriage and describe the protections afforded same-sex marriage by the U.S. Constitution.
Define marriage and enumerate the legal requirements of marriage.
Describe premarriage issues such as engagement.
Define a living will and describe why a person would execute a living will and health care directive.
Describe how a will or trust may be found invalid under the doctrine of undue influence.
Define a living trust and describe how a living trust works.
List and describe special forms of trusts.
Define irrevocable trust and describe how an irrevocable trust works.
Identify how property is distributed under intestacy statutes if a person dies without a will.
Describe the different types of testamentary gifts.
Describe the process of probating a will.
List and describe the requirements for making a valid will.
Explain under what circumstances an accountant–client privilege applies.
Describe the provisions of the Sarbanes-Oxley Act and how they apply to accountants.
Describe how accountants can be found criminally liable for their actions.
Describe how accountants can be held liable for violating securities laws.
Describe how accountants can be found liable to third parties, including under the Ultramares doctrine, Section 552 of the Restatement(Second) of Torts, and the foreseeability standard.
Describe how accountants can be found liable to their clients.
Define audit and describe auditor’s opinions.
Describe Generally Accepted Accounting Principles (GAAPs) and Generally Accepted Auditing Standards (GAASs).
Describe public accounting and define the term certified public accountant.
Describe the coverage provided by umbrella insurance.
Identify the coverage provided by cyber insurance.
List and describe special forms of business insurance.
Describe automobile insurance and explain no-fault insurance.
Identify the risks covered by a standard fire insurance and homeowners’ policy.
List and describe the various forms of health and disability insurance.
Describe the parties to a life insurance policy and the various types of life insurance.
List and describe the common clauses that are used in insurance policies.
Define insurable interest and describe an insurance policy.
Describe the government’s power of eminent domain in taking real property
List and describe the antidiscrimination laws that apply to real estate.
Describe how the government regulates the landlord–tenant relationship.
Define assignment and sublease of a lease by a tenant.
Explain how a landlord may transfer leased property.
List and describe a tenant’s duties to a landlord.
Define the legal doctrine implied warranty of habitability.
List and describe a landlord’s duties to a tenant.
Define a landlord–tenant relationship and describe how it is created.
Describe zoning laws and how they apply to real property.
Describe the liability of landowners to invitees, licensees, and trespassers.
List and describe the different types of express and implied easements.
Describe and apply the doctrine of adverse possession.
Define marketable title and describe the common methods of obtaining marketable title.
Explain how ownership interests in real property can be transferred.
Identify and describe the different types of future interests in real property.
Identify and describe the different types of concurrent ownership of real property.
Describe the different types of freehold estates.
List and describe the different types of real property.
List and describe special forms of bailment.
Describe an ordinary bailment and explain the liability of bailees for lost, damaged, or destroyed goods.
Define bailment and list and describe the elements for creating a bailment.
Describe and apply rules regarding ownership rights in mislaid, lost, and abandoned property.
Describe the methods for acquiring and transferring ownership in personal property.
Define personal property.
Describe the scope of state antitrust laws.
List and describe express and implied exemptions from antitrust laws.
Describe antitrust acts and unfair methods of competition that violate Section 5 of the Federal Trade Commission Act.
List and describe the types of price discrimination that violate Section 2 of the Clayton Act.
Describe tying arrangements that violate Section 3 of the Clayton Act.
Explain how the lawfulness of mergers is examined under Section 7 of the Clayton Act.
Identify acts of monopolization that violate Section 2 of the Sherman Act.
Describe the restraints of trade that violate Section 1 of the Sherman Act.
List and describe the major federal antitrust statutes and the enforcement of federal antitrust laws.
Describe state environmental protection laws.
Describe how the Endangered Species Act protects endangered and threatened species and their habitats.
Explain how environmental laws regulate the use of toxic substances and the disposal of hazardous wastes.
Describe the Clean Water Act and effluent water standards.
Describe the Clean Air Act and national ambient air quality standards.
Describe state and local consumer protection laws.45.1 Describe environmental protection and identify when an environmental impact statement must be completed.
Identify and describe unfair and deceptive business practices.
Describe federal laws that regulate automobile, vehicle, bus, and motorcycle safety.
Describe federal laws that regulate product safety.
Describe government requirements and restrictions on the disclosure of nutrition facts and other safety information.
Describe government regulation of food, drugs, cosmetics, and medical devices by the Food and Drug Administration (FDA).
Describe government regulation of meat, poultry, and egg products by the U.S.Department of Agriculture.
List and describe the statutes that require disclosure of administrative agency actions and protections of individual rights.
Explain the procedure for judicial review of administrative agency decisions.
List and describe the powers of administrative agencies.
Describe administrative procedure and provisions of the Administrative Procedure Act.
Describe state and local administrative agencies and explain their functions.
Describe federal administrative agencies and explain their functions.
Describe cabinet-level departments of the federal government.

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