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business
essentials of business law

Questions and Answers of Essentials of Business Law

The state of a person who dies without a will.a. benefi ciaryb. bequestc. codicild. decedente. devisef. executor g. holographic will h. inter vivos i. intestate j. personal representative k.
A trust set up while a person is still living.a. benefi ciaryb. bequestc. codicild. decedente. devisef. executor g. holographic will h. inter vivos i. intestate j. personal representative k.
A person who sets up a living trust.a. benefi ciaryb. bequestc. codicild. decedente. devisef. executor g. holographic will h. inter vivos i. intestate j. personal representative k. residuary l.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.The probate court is responsible for supervising the operation of a will and the settling of
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.When a person dies intestate, the court appoints an executor to settle the estate.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A tape recording is an acceptable form of will.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Generally, it is good practice to have witnesses to a will who are younger than the person
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A person of any age can make a will.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Making a codicil has similar requirements to making a new will.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.One of the primary purposes of setting up a trust is to receive favorable tax treatment.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.An inter v ivos trust is created by a will.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A trustee who fails to use prudent judgment in managing a trust can be held liable.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A trustee does not have authority to make investments.
Corbin was named as executor in his father’s will. While going through his late father’s papers, he discovered a promissory note made by Fulsom in the amount of $10,000 that refl ected a personal
Aversa, the personal representative of her late father’s estate, was presented with evidence that there was still$12,000 owing on his automobile. Rather than have the car repossessed, she
The trustees of a labor union pension fund delivered various stocks and bonds to a bank under an agreement that provided that the bank would act as the trustees’ agent in investing the fund’s
Before Dora Diggs, a widow, died, she left a handwritten document that read, “I want Tom R. Preston and Mattie Price to be the administrators(executors) to settle my estate.” Following this she
Specialized knowledge associated with a particular business.a. goodwillb. trade na mec. trade s ecretd. brand na mee. trademark
The name and good reputation of a fi rm.a. goodwillb. trade na mec. trade s ecretd. brand na mee. trademark
A word, name, symbol, device, or combination thereof adopted and used by a manufacturer or merchant to identify his or her goods and distinguish them from goods manufactured or sold by others.a.
The name under which a fi rm does its business.a. goodwillb. trade na mec. trade s ecretd. brand na mee. trademark
The registered name for a product.a. goodwillb. trade na mec. trade s ecretd. brand na mee. trademark
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A contract in which an employee agrees not to work for a competitor for a reasonable period
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A buyer who purchases a business from a seller receives title to the physical assets but
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A complex, highly specialized accounting and budgeting software program not intended for
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.There is no set time limit on the legal protection available for trade s ecrets.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.It is illegal for a software producer to require that a user register his or her ownership
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Ownership of a trademark is typically noted by using the letter O in a circle.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Trademark registrations are issued by the U.S. Patent and Trademark Offi ce of the
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.The Green Giant is an example of a trade name.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Words or terms that become a common part of the language are referred to as generic.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.The law relating to trademarks applies equally to the law relating to domain names on the
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.The Anti-Cybersquatting Consumer Protection Act of 1999 makes cybersquatting illegal even if
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.Since a copyright covers only an expression in words, works of art cannot be protected under
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.An infringement is a special form of design patent.
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.A person who profi ts from unauthorized use of a patented invention is liable to the
Indicate whether each of the following statements is true or false by writing T or F in the answer c olumn.The courts have ruled that genetically engineered life-forms are not pa tentable.
What is the justifi cation for allowing a trademark owned by a company to become generic?
Morales, an oral surgeon in a rural area, wanted to open a second o ffi ce in a nearby town. She hired Ng, a recently graduated oral surgeon, to operate this new offi ce for three years. The contract
Calvin Designer Label developed a Web site using the terms Playboy and Playmate to direct users to the site. Calvin also used both terms in the body of its Web pages to which users were directed.
Webster R. McGee developed a Web site using the domain name of“Card Service.” Cardservice International, Inc., a separate company, maintained that the term used by McGee was confusingly similar
Rural Telephone Service Company was a public utility providing telephone service to several communities in Kansas. Rural published a typical telephone directory, consisting of white pages and yellow
Six freelance writers sold articles for publication in print to a variety of popular newspapers and magazines, including The New York Times , Newsday , and Sports Illustrated . Nexis allowed computer
A fi le that is embedded on the hard drive of a computer, often without a person’s knowledge, that collects and stores information about the user.a. defamationb. wormc. hackerd. cookiee. spam
A person who gains unauthorized access to a computer either for mischief or with criminal intent.a. defamationb. wormc. hackerd. cookiee. spam
A small, self-contained program that invades all computers in a network.a. defamationb. wormc. hackerd. cookiee. spam
An unsolicited e-mail sent for commercial purposes.a. defamationb. wormc. hackerd. cookiee. spam
Speech that harms a person’s reputation.a. defamationb. wormc. hackerd. cookiee. spam
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Individuals making statements in chat rooms have an absolute right to privacy.
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.There are currently no laws prohibiting the use of cookies in the case of adult computer
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Employees have no reasonable expectation of privacy while they are at work; hence,
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Internet service providers have the legal right to monitor e-mail without the
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Employees who transfer money from their employer’s account into their own account
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.There are numerous state, but no federal, regulations covering the misuse of computers
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.In order to violate the Computer Fraud and Abuse Act, the individual must act with intent.
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Since most forms of gambling are illegal, most forms of online gambling are also illegal.
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Offshore gambling refers to foreign citizens placing bets in casinos located within the
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Slander is a spoken, and libel is a written, form of defamation.
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.A newspaper that prints a story about a public fi gure, with knowledge that the story is
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.The law mandates that all Internet service providers require subscribers to use their
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Pictures and words are legally obscene if they depict sexual conduct in a manner that is
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.When an individual purchases an item from a brick-and-mortar company and provides his or
Indicate whether each of the following statements is true or false by writing T or F i n t he a nswer c olumn.Spam is illegal in the United States.
Explain how the advent of computer usage created the need for new laws to protect privacy in the United States.
Comfy Shoes, Inc. maintained a Web site for the online sale of its products.Comfy carried a complete line of men’s, women’s, and children’s shoes. Included among its many shoe products were
Timothy R. McVeigh (no relation to the Oklahoma City bomber) was a highly decorated, 17-year veteran of the U.S. Navy. McVeigh was a gay male who, while using an alias, sent an e-mail message to a
Michael A. Smith was a regional operations manager for the Pillsbury Company. In this capacity, he regularly used the company’s e-mail server. The company regularly assured its employees that all
Robert Tappan Morris released onto the Internet a worm that spread and multiplied. The worm found its way into computers at several educational and military sites, causing these computers to crash.
The place where a corporation sells its securities to the public.a. mediationb. primary ma rketc. nexusd. secondary ma rkete. arbitration
The place where one member of the public sells securities to another member of the public.a. mediationb. primary ma rketc. nexusd. secondary ma rkete. arbitration
A process in which a neutral third party meets with disputants in order to have them come to some form of settlement agreement.a. mediationb. primary ma rketc. nexusd. secondary ma rkete. arbitration
A process in which a neutral third party decides a case as if he or she were a judge and jury.a. mediationb. primary ma rketc. nexusd. secondary ma rkete. arbitration
A location’s link or tie to a sale required in order for the location to collect sales tax.a. mediationb. primary ma rketc. nexusd. secondary ma rkete. arbitration
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.The Securities and Exchange Commission requires that prospective investors review all of a
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Touting occurs when an investor who owns shares of a company’s stock posts notices
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.The Federal Trade Commission is responsible for ensuring that advertising in the United
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.A deceptive advertisement is one that contains a material misrepresentation, omission, or
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.The Federal Trade Commission does not have jurisdiction over advertisements that appear on
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Companies that provide Web sites that are forums for music to be shared without permission
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Most courts will acknowledge that by clicking the “I accept” button, the user has
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Simply visiting a Web site can sometimes indicate an acceptance by the user of the terms
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Contracts of adhesion in cyberspace are valid unless they contain terms that are
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.An electronic signature will not satisfy the Statute of Frauds.
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.The Electronic Signatures in Global and National Commerce Act pertains only to cases in
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.Mediation is a form of alternative dispute resolution in which a neutral party decides a
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.A disadvantage to alternative dispute resolution is that it is far more time-consuming
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.A state wishing to collect a sales tax levies the tax on the buyer of goods but usually
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn.A use tax is a tax to a consumer who uses goods within a state, as opposed to buying them
Kenneth Lipsitz sold magazine subscriptions through a friendly and congenial staff located in New York City. Numerous affi davits and complaints alleged either that the magazines never arrived or
Napster, Inc. provided a free service for visitors to its Web site that allowed users to share music digitally. Napster did not receive permission from the owners of the music. Several large
Netscape offered all visitors to its Web site free“SmartLoad” software provided the visitor clicked his or her mouse on a designated box labeled “Download.” A reference to a license agreement
An agreement that specifi es that the employer agrees to pay, and the employee agrees to work, for a specifi ed period of time at a specifi ed salary.a. 1099b. employment a t w illc. employment c
A tax form provided to employees.a. 1099b. employment a t w illc. employment c ontractd. employee ha ndbooke. independent contractorf. respondeat superior g. W-2
A person or fi rm that performs services for another.a. 1099b. employment a t w illc. employment c ontractd. employee ha ndbooke. independent contractorf. respondeat superior g. W-2
A tax form provided to independent contractors.a. 1099b. employment a t w illc. employment c ontractd. employee ha ndbooke. independent contractorf. respondeat superior g. W-2
A doctine that states that, just as an employee may choose to terminate his or her employment at any time he or she wishes, so too an employer may terminate an employee’s employment at any time.a.
A manual published by an employer that contains the many policies of the fi rm.a. 1099b. employment a t w illc. employment c ontractd. employee ha ndbooke. independent contractorf. respondeat
A legal doctrine that holds that the acts of an employee committed while performing duties are considered the acts of the employer.a. 1099b. employment a t w illc. employment c ontractd. employee ha
Indicate whether each of the following statements is true or false by writing T or F in the answer column.Acts of an employee while performing duties of employment are considered the acts of the
Indicate whether each of the following statements is true or false by writing T or F in the answer column.Workers’ compensation laws are designed to ensure that all employees are paid fairly.

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