Please choose one.

In the Yates v. U.S. case, what was the purpose of the court's decision?

a.

to decide whether an injunction was an appropriate remedy

b.

to determine the civil liability of fishers

c.

to interpret a statute

d.

both b and c

Registration of a trademark in a Madrid member country is:

a.

effective for all Madrid member countries.

b.

not effective in the United States.

c.

protected under the Berne convention.

d.

effective for that country only.

Director X of the ABC Corporation, listed on the NYSE, has engaged in the following transactions in ABC's stock:

January 1, 2017 - purchased 300 shares of ABC stock for $30 per share

January 15, 2017 - sold 300 shares of ABC stock for $35 per share

January 30, 2017 - purchased 300 shares of ABC stock for $25

February 3, 2017 - sold 300 shares of ABC stock for $20

Which of the following is correct?

a.

The director is not subject to the restrictions on short-swing profits.

b.

none of the above

c.

The director has a net loss so there are no short-swing profits.

d.

The director has a net gain of $15 x 300 shares or $4,500.

Which of the following is not an exempt security under the 1933 Act?

a.

municipal bonds

b.

insurance policies

c.

promissory notes

d.

annuities

e.

All of the above are exempt securities.

Under the UCC and between merchants, additional terms in acceptance:

a.

are part of the contract unless they are material.

b.

are part of the contract unless the offer was limited.

c.

result in rejection of the original offer.

d.

none of the above

The Department of Homeland Security has been given the responsibility for the construction of a fence along the border between the United States and Mexico. The Department has not followed the 30-day comment rule on the composition and location of the proposed fence. The Department:

a.

has not complied with the rulemaking requirements and cannot proceed with the fence.

b.

can allow as short of a comment time as it wants as long as there is notice.

c.

does not have an enabling statute to allow for a comment period.

d.

does not need to follow comment periods for building a fence.

An ad in a newspaper reads: "AVAILABLE TODAY ONLY. FRIENDLY'S APPLIANCES. CLEARANCE SALE FOR ALL FLOOR ITEMS. 75% OFF RETAIL PRICES." Joan Ludwig arrived at Friendly's about one hour after it opened and there were no appliances left.

The newspaper ad:

a.

is an offer.

b.

is not an offer.

c.

is a merchant's firm offer.

d.

cannot be revoked.

e.

none of the above

Which of the following is the first document filed in a lawsuit?

a.

complaint

b.

answer

c.

pleadings

d.

none of the above

Which of the following is an unfair labor practice?

a.

stopping distribution of union flyers off company property during nonworking hours

b.

picketing

c.

strike

d.

All of the above are unfair labor practices.

Which of the following is not part of a CEO and CFO certification of financial statements?

a.

That the financial statements represent all material aspects of the company's financial performance.

b.

That an external auditor has certified the internal controls of financial operations.

c.

That there are not any untrue statements in the financial statements.

d.

That they have reviewed the financial statements.

Under the Revised Uniform Unincorporated Associations Act, which of the following is true?

a.

It does not apply to unincorporated associations other than churches.

b.

Unincorporated organizations are treated as entities for purposes of liability protections and authority.

c.

It has been adopted in nearly all states.

d.

Unincorporated organizations are treated as entities for purposes of liability, but not authority.