2

1. When can a customer list of an employer rise to the level of a legally protected trade secret?

QUESTION 20

1. Bill makes an offer to Ann. If Bill dies before Ann can reply, the offer

   		remains open.
   		remains open until Ann learns of Bills death.
   		remains open until Ann replies.
   		terminate immediately.

0.5 points

QUESTION 21

1. A court creating a contract as a legal fiction in order to prevent unjust enrichment is an example of

   		Quasi-contract
   		Unconstitutional judicial activism
   		Legal remedies
   		Promissory estoppel

0.5 points

QUESTION 22

1. Which of the following is afalsestatement?

   		An employee also may act in the capacity of an agent.
   		An independent contractors physical manner of doing a job is controlled, or is subject to the control, by his or her employer.
   		A principal has a duty to cooperate with his or her agent.
   		A principal generally is required to indemnify an agent for liabilities incurred because of authorized and proper acts by the agent.

0.5 points

QUESTION 23

1. Regarding sexual harassment claims filed by an employer against his or her employer:

   	a.	Companies are absolutely liable for all sexual harassment claims since sexual harassment is a serious legal and moral wrong.
   	b.	Companies are absolutely liable for sexual harassment inflicted by a manager or supervisor against a subordinate employee who suffers a tangible job loss or harm.
   	c.	Companies are not liable for sexual harassment claims unless they actually knew of the sexual harassment and condoned it.
   	d.	Companies are never liable for sexual harassment claims since the meaning of a "hostile" or "offensive" sexual work environment is too vague and subjective to impose legal liability.

0.5 points

QUESTION 24

1. Which is NOT a violation of U.S. anti-trust law?

   	a.	Horizontal price-fixing by competitors
   	b.	Vertical price-fixing that is not supported by the Rule of Reason
   	c.	A group boycott of manufacturers against retailers motivated by economic reasons
   	d.	A unilateral refusal to deal by a manufacturer against a retailer who disregards the manufacturer's MSRP (manufacturer's suggested retail price).

0.5 points

QUESTION 25

1. Which is FALSE about a Limited Liability Company (LLC)?

   	a.	No formalities are required by state statute in the forming of an LLC; rather, a simple LLC agreement will suffice to establish legally the LLC.
   	b.	An LLC can be a member-managed or a manager-managed LLC.
   	c.	The name of the LLC must include the term "limited liability company" or "LLC."
   	d.	The members of an LLC are not personally liable for the debts and obligations of the LLC (beyond their original contributions to the LLC).

0.5 points

QUESTION 26

1. What is a FALSE statement regarding monopolization analysis pursuant to Section 2 of the Sherman Act?

   	a.	One generally cannot be guilty of or liable for monopolization without having a monopoly first.
   	b.	One can have a monopoly but not have monopoly power and thus not be a monopolizing company.
   	c.	All monopolies are illegal since they are inherently unfair to consumers.
   	d.	Wrongful conduct by a monopoly to establish the legal wrong of monopolization includes illegal AND unethical, predatory, or abusive conduct (which is not necessarily illegal).

0.5 points

QUESTION 27

1. Which of the following isnota characteristic of a corporation?

   		Unlimited liability of owners.
   		Free transferability of shares.
   		Perpetual existence.
   		Centralized management.

0.5 points

QUESTION 28

1. Which of the following is afalsestatement?

   		The pre-existing rule of common law contracts allows a party, who is bound by a prior contract to perform a duty, to use that same duty as new consideration.
   		The parties to a contract can mutually rescind a contract.
   		Generally, a later promise to do what one already has a legal duty to do is legally insufficient consideration under the common law.
   		For an item to be classified as a good pursuant to the Uniform Commercial Code, it typically is tangible personal property.

0.5 points

QUESTION 29

1. Which is a FALSE statement about U.S. civil rights laws?

   	a.	The Age Discrimination in Employment Act protects against age discrimination in the workplace.
   	b.	Language discrimination in the form of "English-only" policies can be a form of national origin discrimination.
   	c.	Even an employee at-will can sue for wrongful discharge if she was terminated because of her gender.
   	d.	An employer is allowed to have an Affirmative Action plan that has rigid and fixed quotas for hiring based solely on race due to the history of discrimination in the United States.

0.5 points

QUESTION 30

1. Which of the following istrueregarding contracts?

   		A contract that is completely performed by all parties is called an executory contract.
   		A contract that has been completely performed by one party, but not the other, is called an executed contract.
   		A contract that has been performed by A but not by B is executory as to B and executed as to A.
   		To be enforceable, a contract must be executed.

0.5 points

QUESTION 31

1. The "fair use" doctrines applies to:

   	a.	Patent law
   	b.	The employment at-will doctrine
   	c.	Copyright law
   	d.	The National Labor Relations Act.

0.5 points

QUESTION 32

1. Which of the following can be deemed to be a product defect pursuant to strict liability tort law?

   	a.	The lack of a warning or the lack of an adequate warning on a product.
   	b.	A flawed product, that is, one that does not meet the manufacturer's own standards for that product.
   	c.	A product that does not incorporate state-of-the-art safety modifications which are feasible economically and practically to do.
   	d.	All of the above.

0.5 points

QUESTION 33

1. Which is NOT a characteristic of the traditional business corporation?

   	a.	Centralized management by means of a board of directors and corporate officers
   	b.	Creation by the filing of an articles of incorporation and approval of a corporate charter by the appropriate state agency
   	c.	Personal liability of the shareholders for corporate debts and obligations
   	d.	Access to capital markets by the issuance of shares of stock and their sale to the investing public.

0.5 points

QUESTION 34

1. Which of the following is afalsestatement?

   	A.	The principal has a duty to compensate any agent, including a gratuitous one.
   	B.	An agent is generally not liable on contracts made in connection with a fully disclosed agency.
   	C.	The principal has a duty to cooperate with his or her agent.
   	D.	A partially disclosed agency exists where the third party is aware that the party he or she is dealing with is an agent, but does not know the identity of the principal.

0.5 points

QUESTION 35

1. Which of the following is afalsestatement?

   	A.	An agency relationship can be created by mutual agreement.
   	B.	An agency relationship can be created by ratification.
   	C.	An agency relationship can be created under the apparent agency doctrine by the acts of the agent.
   	D.	An agency relationship can be created under the apparent agency doctrine by the acts of the principal.

0.5 points

QUESTION 36

1. Which of the following is TRUE about real property?

   	a.	In a joint tenancy with a right of survivorship, when one joint tenant dies his or her interest in the property passes automatically to the surviving joint tenant, who is typically the surviving spouse.
   	b.	The real estate contract is the legal instrument that transfers title to real property.
   	c.	"Quitclaim deeds" are illegal since no warranties of title are made by the grantor.
   	d.	Real property cannot be owned concurrently in the U.S. since the government will not know exactly who is going to pay the taxes on the property.

0.5 points

QUESTION 37

1. Which of the following is FALSE regarding the tort of defamation?

   	a.	Libel is written defamation.
   	b.	Truth is an absolute defense to a defamation lawsuit.
   	c.	"Publication," that is, communication of the defamatory statement to a third party, is a required element to a defamation lawsuit.
   	d.	In the case of a "slander per se," for example, a defamatory statement accusing a person of committing a serious crime of moral turpitude, damage to the plaintiff's reputation is not presumed since the defamation is merely oral.

0.5 points

QUESTION 38

1. Which of the following istrueabout punitive damages?

   		They are generally not available for breach of contract claims.
   		They are awarded only if consequential damages are also awarded.
   		They are awarded where specific performance is not available.
   		Their purpose is to give the nonbreaching party the benefit of the bargain.

0.5 points

QUESTION 39

1. A contract that one party may avoidwithoutbeing in breach is

   		Void
   		Valid
   		Voidable
   		Executory

0.5 points

QUESTION 40

1. Which of the following statements regarding a partnership istrue?

   		A partnership is an involuntary association.
   		To be valid, a partnership must have a written partnership agreement.
   		A partnership is a separate, tax-paying entity for federal tax purposes.
   		Partners have personal liability much like that of sole proprietors.

1. a.	When the list has information in it which possesses value and which the employer has made reasonable efforts to keep the list secret.
   b.	When the employer obtains a federal copyright or trademark on it.
   c.	When there is concrete evidence that all the employer's customers on the list would be willing to continue doing business with the employer.
   d.	When the people on the customer list are readily obtainable from public sources.

QUESTION 16

1. The International Trade Administration (ITA) of the U.S. Department of Commerce regulates import competition by:

   a.	Promotion of trade and investment
   b.	Strengthening industry competitiveness
   c.	Ensuring fair trade
   d.	All of the above.