1.The party that files a lawsuit under Tort law is called the

a.

prosecutor.

b.

plaintiff.

c.

defendant.

d.

none of the above.

2.Two companies may prefer to settle their dispute through mediation because

a.

the case will be heard by a jury.

b.

the dispute will eventually go to trial.

c.

the process is not as adversarial.

d.

the resolution of the dispute will be decided an expert.

3.Shareholders to a corporation are entitled

a.

vote on fundamental changes to the corporation.

b.

share in the profits of the corporation.

c.

inspect the books and records of the corporation.

d.

all of the above.

4.Business Ethics defined a Corporations Triple Bottom Line as

a.

its profits, its impact on people, and its impact on the planet

b.

its profits, impact on other corporations and its impact on the environment.

c.

it advertising, corporate citizenship and its impact on charities.

d.

none of the above.

5.After you inherit a significant sum of money and other assets, you and 4 friends decide to open a business selling cannabis.Your friends have very little assets but have experience in the cannabis business.The most appropriate form of business entity that will best protect you would be the following:

a.

Corporation.

b.

Limited Liability Corporation

c.

Sole Proprietorship.

d.

a or b above.

6.Kevin is a judge hearing a case. Applying the relevant rule of law to the facts of the case requires Kevin to find previously decided cases that are

a.

as different as possible.

b.

as similar as possible.

c.

at odds.

d.

exactly identical.

7.Jon wants to buy Kim's land, but she refuses to sell. Jon begins using subpoenas, court orders, and other formal legal procedures in an unrelenting effort to force Kim to sell. This is

a.

abuse of process.

b.

appropriation.

c.

wrongful interference with a contractual relationship.

d.

not a tort.

8.Bess distributes a handbill to her business clients and potential customers accusing her competitor Ciera of being a convicted thief. The statement is defamatory if

a.

a recipient of a handbill throws it in the garbage.

b.

Ciera suffers emotional distress.

c.

the statement is true.

d.

the statement is false.

9.Gary accuses Helen of fraudulently inducing him to invest in Junkbonds Inc.. by her disclosure of significant information that she was aware was not accurate.The stock price of Junkbonds significantly declines in value after Gary purchases them. The reliance that gives rise to liability for fraud requires

a.

a subjective statement.

b.

misrepresentation of a fact knowing that it is false.

c.

reliance on a false statement.

d.

b and c above.

10.Partners, in the absences of an partnership agreement, the partners:

a.

Share equally in profits and losses.

b.

Jointly own all property.

c.

Have limited liability.

d.

a and b above.

11.Directors of a corporation

a.

are responsible for the strategy and policies of a corporation.

b.

elect the Shareholders.

c.

Must be compensated.

d.

None of the above.

12.The difference between a trial and an appellate court is

a.

No trials are conducted at an appellate court.

b.

a party is appealing a decision of the trial court.

c.

the subject matter in front of appellate courts must involve complex facts.

d.

None of the above.

13.Limited Liability Companies are hybrid entities that

a.

limit the personal liability of its members.

b.

allow pass through tax treatment.

c.

Must include either LLC or Limited Liability Company in its name.

d.

all of the above.

14.A Limited Liability Company Operating Agreement

a.

is not required,

b.

sets forth how the LLC is managed.

c.

a and b.

d.

none of the above.

15.Louann pushes Molly, who falls and breaks her wrist. Under Tort law, Louann is liable for the injury

a.

if Louann intended to push Moly.

b.

only if Louann did not intend to break Moly's wrist.

c.

only if Louann had a bad motive for pushing Moly.

d.

only if Louann intended to break Moly's wrist.

16.Directors and Officers of a corporation owe

a.

a duty of care.

b.

a duty of loyalty.

c.

a and b above.

d.

none of the above.

17.Sal owns a demolition company. which injures Ted, a spectator, during a demolition of a building. Under the theory of strict liability, Sal must pay for Ted's injury

a.

only if Ted's injury was not reasonably foreseeable.

b.

only if Ted's injury was reasonably foreseeable.

c.

only if the R&R crew was at fault.

d.

whether or not the R&R crew was at fault.

18.If you follow the law you also

a.

are acting morally.

b.

must be following all industry codes.

c.

a and b.

d.

none of the above .

19.Jack injures Jill in a car accident.Jill initiates a suit against Jack under a negligence theory. In the lawsuit Jack is

a.

the plaintiff.

b.

the defendant.

c.

the judge.

d.

the jury.

20.Susie believes that she was overcharged at a restaurant and shoves her waiterTheo causing him to fall down and bruise his arm. Theo sues Susie, alleging that the shove was a battery. Susie is liable

a.

if Rosario's did not actually overcharge Susie.

b.

if the shove was offensive.

c.

if Susie acted out of malice.

d.

under no circumstancesthere was no significant physical injury.

21.Beth makes cosmetics. uses Chelsea, a famous model, has posted on her Instagram that she uses Beth's cosmetics.Beth, without Chelsea's permission, creates an advertisement that shows Chelsea endorsing her product.Beth is most likely liable to Chelsea for

a.

trespass.

b.

fraudulent misrepresentation.

c.

defamation.

d.

appropriation.

22.A tweet to Ethan, a reporter for the site Blast accuses Financial Services Corporation of cheating on its taxes. If false, making this statement is

a.

defamation.

b.

not defamation because it is an opinion.

c.

not defamation because it was not communicated orally.

d.

not defamation because it was communicated to only one person.

23.Digg Deep Inc. backhoe negligently injures Estes because it had a defect when it was manufactured. As a result, Estes is injured in an accident in which his neighbor Fortis is also hurt. In a product liability suit based on negligence, Digg Deep may be liable to

a.

Estes only.

b.

no one.

c.

Estes and Fortis.

d.

Fortis only.

24.Owners of a Limited Liability Company are called

a.

Stakeholders.

b.

Shareholders.

c.

Members.

d.

Limiters.

25.IRAC means

a.

Issue Regulations Analysis Conclusion.

b.

Issue Rule Argument Conclusion.

c.

Issue Rule Analysis Conclusion.

d.

None of the above.