Business Law Fundamentals Exam #1 Page 1 of 7

Transcription

1 Business Law Fundamentals Exam #1 Page 1 of 7 PRINT name as your signature 1. This Exam #1 must be completed within the allocated time (i.e., 75 minutes). Audible time warnings of 2 minutes, 1 minute, 30 seconds will be given. 2. It is a closed book open mind exam. It is a closed mouth exam. All team work is academic dishonesty. Any electronic device of any kind for any purpose is academic dishonesty. 3. Recall the material difference between i.e. (that is) versus e.g. (for example). 4. If you finish early, to not disturb others, remain in your seat until 11:15 AM. When you are done, turn over your exam papers, STAY IN YOUR SEAT until invited to depart. Students taking their Exam #1 on Wednesday shall turn in both [1] white copy of exam; [2] completed blue answer sheet. Students taking their Exam #1 on Thursday shall turn in the completed blue answer sheet, will receive in exchange an answer key; you may keep your white copy exam. Students taking their Exam #1 on Wednesday may, after 11:15 AM Thursday, retrieve their white copy exam an answer key from the MH 228 suite secretary. 5. This Exam #1 is worth 200 points of a course total of 1,000 points. There are 35 questions graded as if there only are 33. Accordingly, each correct answer on Exam #1 is worth approximately 6 course points. 6. All appeals of this exam s questions must be: [6A] typed; [6B] signed by the student in three ways, typed name, hwritten signature, typed university identification number; [6C] immediately following the signature, list in sequence, solely by number, each of the questions being appealed; [6D] since this exam's design (i.e., 35 as 33) presumes two errors, harmless error exists with two flawed questions; thus, an appeal must appeal three or more questions must prove at least three questions to be objectively ambiguous for there to be one non-harmless error; [6E] after the [6C] list, argue each question, one at a time; [6F] at the beginning of each question s [6E] appeal, identify at least two reasonable meanings that the question could have had; [6G] in each [6E] appeal, argue why one or more of the [6F] identified reasonable meanings is as appropriate or is more appropriate than the meaning used for the answer key answer; [6H] the signed appeal must be personally hed to the instructor (or to the instructor's suite secretary in MH 228) no later than 11:59 AM (i.e., minute before noon) Wednesday, February 20th, time is of the essence. O'Hara 2013 D

2 Business Law Fundamentals Exam #1 Page 2 of 7 NOTES: A. Recall the material difference between i.e. (that is) versus e.g. (for example). B. Use bubble A for TRUE use bubble B for FALSE. C. If a question contains a number (e.g., Amendment IX), then the truth or falsity of that question never depends upon that number. This is not a test of trivia recall. This test is an objective demonstration of your subjective knowledge. D. For clarity in distinguishing a "principal" from a principal as well as distinguishing an "agent" from an agent, quote marks will be used for the generic words "principal" "agent" no quote marks will be used for the specific words principal agent. That is, "principal" "agent" refer to all three relationships (i.e., principal agent; principal independent contractor; employer employee). E. For clarity in distinguishing enforceable from unenforceable transactions, the word contract is not in quotes for an enforceable contract (e.g., a voidable contract elected to be enforced), whereas the word "contract" is in quotes for a transaction that is not an enforceable contract (e.g., a voidable contract that has been voided now is a void "contract"). F. The quote marks described in D. in E. may be the very essence of the question's truth or falsity. For example, it is true to say "An employee is one of the three relationships in "agent"."; it is false to say "An employee is an agent.". G. Different students have different versions of this Exam 1. For a student's blue bubble sheet to be correctly scored requires that student to record that student's version of this Exam #1. AT THE BOTTOM RIGHT OF THIS PAGE, WHAT LETTER FOLLOWS THE YEAR 2013? RECORD THAT LETTER AS YOUR ANSWER TO QUESTION 36. Failure to correctly record your version shall earn you a score of zero on Exam #1. O'Hara 2013 D

3 Business Law Fundamentals Exam #1 Page 3 of 7 QUESTIONS: 1. T F The Law (i.e., both the subset law the subject equity) tends to assign liability to those persons whose actions are both knowing voluntary. The Law favors using the objective over using the subjective. Express (i.e., written words) is objective while implied (e.g., oral words) is subjective. 2. T F Knowing comes in three forms: scienter, receipt of notice, reason to know. 3. T F The Law recognizes many forms of person. A natural person has more rights than a mere legal person. Most often, however, The Law uses the Reasonable Person to judge whether to assign liability. 4. T F Objectively, a person is not harmed if that person waits an unreasonable amount of time to complain about the harm. Equity uses laches while the law subset of The Law uses a statute of limitations, potentially tolled out to the statute of repose. 5. T F The separation of powers between the three branches of government (i.e., legislative v. executive v. judicial) in the USA Constitution are implied, but express in Nebraska's Constitution. 6. T F Judicial review is at its strongest when the court is using substantive due process to actively protect the Person from government. 7. T F Procedural due process is satisfied if a USA government provides both a notice a hearing. 8. T F The Absorption Doctrine is an interpretation of the Commerce Clause (i.e., federal government's Commerce Clause absorbs the Police Power). 9. T F A trial court seeking to apply the law is free to choose which precedence to apply from among the three types of precedence: authoritative, binding, persuasive. O'Hara 2013 D

4 Business Law Fundamentals Exam #1 Page 4 of T F A person who both is injured who is within the zone of protected interests has both privity sting to sue. 11. T F The plaintiff's complaint must: allege a cause of action (e.g., libel per se); allege the court's jurisdiction; pray for a remedy the court has the power to grant. 12. T F The appellate court will reverse the trial court unless the trial court can demonstrate the facts clearly. 13. T F Negotiation does not (necessarily) involve a third party neutral. Facilitation, mediation, arbitration each involves a third party neutral. To be constitutional, that third party neutral must be as neutral as is a trial court judge. 14. T F The federal government is presumed to have power; that power is presumed to be concurrent with powers of the USA States. 15. T F Preemption is not favored, but, it may be allowed if: [i] clear intent of Congress national interests outweigh State interests; or [ii] express intent of Congress a need for uniformity. 16. T F Good faith, might be required of a non-ucc consumers (e.g., common law consumer), UCC consumer, merchant, or a fiduciary. Good faith has a subjective part an objective part. The subjective part of that good faith is materially greater for all fiduciaries than for all non-ucc consumers. 17. T F The Police Power includes the power to regulate for The People's health, safety, morals, general welfare. O'Hara 2013 D

5 Business Law Fundamentals Exam #1 Page 5 of T F Powers within the separation of powers are routinely evaluated using the concepts of core, penumbra, emanations. An express grant of power to a government is one type of core. One type of penumbra can be seen the federal Necessary Proper clause powers. An example of an emanation is the authority to do indirectly that which is not expressly prohibited. 19. T F Congress has the authority to regulate commerce with the foreign nations, with the several States, with the Indian Tribes. 20. T F Commerce that has a direct effect (i.e., direct result of commerce) is at the core of the Congressional power. The penumbra emanations of the Commerce Clause covers commerce that has a close substantial affect (i.e., close substantial cause of commerce). 21. T F The burden of proof in a criminal case is beyond a reasonable doubt. This burden is a setting of transaction costs to reflect both the separation of powers between the Person the government the routine vast disparity of actual worldly power between the parties. 22. T F USA States only have those powers expressly granted to them in the USA Constitution (e.g., the Police Power). 23. T F To be constitutional, governmental regulation of business must be accomplished using due process of law, must be for a public purpose, the government must pay the regulated firm just compensation for the costs caused by that regulation. 24. T F The Full Faith Credit clause of the USA Constitution requires the federal government to honor Acts of State done by other nations (e.g., Canada) when done inside their own jurisdictions. O'Hara 2013 D

6 Business Law Fundamentals Exam #1 Page 6 of T F Amendment I of the USA Constitution expressly protects the right of free speech. However, all USA governments may reasonably regulate speech. All reasonable regulation of the time, place, manner, content of speech is constitutional. 26. T F Substantive due process is provided by the judiciary for fundamental constitutional rights. All fundamental constitutional rights of the federal government, of the USA State governments, of The People are express constitutional rights. 27. T F Every government has sovereign immunity (until it surrenders it). However, sovereign immunity only exists for that government's Acts of State. 28. T F Al torts are civil 1 wrongs. All torts are fault based. 29. T F All torts have the same five elements: [i] defendant owes a duty of care to the plaintiff; [ii] defendant breaches that duty of care; [iii] plaintiff suffers damages; [iv] defendant's breach is the proximate cause of the plaintiff's injury; [v] the defendant has no defenses. For example, common law fraud exists if the defendant knowingly intentionally omits a fact thereby inducing the plaintiff's justifiable reliance proximately causing the plaintiff's damages. 30. T F All of actual cause is included within proximate cause (i.e., actual cause is smaller than proximate cause). 31. T F The defendant has the defense of Assumption of the Risk if the plaintiff knowingly voluntarily exposes the plaintiff to the defendant's breach. 32. T F Parties, time, consideration, subject matter each, typically, is material to a transaction. For example, a change in time typically would change the mind of the Reasonable Person. 1 Civil law as contrasted with criminal law; not civil law as contrasted with common law. O'Hara 2013 D

7 Business Law Fundamentals Exam #1 Page 7 of T F Each USA State's legislature has broad powers to classify persons as to similarly situated as to similar treatment. The State legislature is at the core of its power when regulating social economic issues. The State legislature is in the penumbra of its power when regulating suspect classes (e.g., gender, legitimacy, or hicap). The State legislature is in the emanations of its power when regulating topics over which it has no authority (i.e., race, national origin, or citizenship). 34. T F Substantive due process makes a criminal statute void for vagueness if when the Reasonable Person reads that statute the Reasonable Person can not reasonably know what is the prohibited bad act or what is the prohibited bad thought; both of which are necessary for the legislature to specify when the legislature makes a crime. 35. T F Because the specific controls the general, the independent contractor of the principal has all tort liability. (Recall page 2 its NOTEs D through G.) O'Hara 2013 D

8 Business Law Fundamentals Exam #1 Page 1 of 7 PRINT name as your signature 1. This Exam #1 must be completed within the allocated time (i.e., 75 minutes). Audible time warnings of 2 minutes, 1 minute, 30 seconds will be given. 2. It is a closed book open mind exam. It is a closed mouth exam. All team work is academic dishonesty. Any electronic device of any kind for any purpose is academic dishonesty. 3. Recall the material difference between i.e. (that is) versus e.g. (for example). 4. If you finish early, to not disturb others, remain in your seat until 11:15 AM. When you are done, turn over your exam papers, STAY IN YOUR SEAT until invited to depart. Students taking their Exam #1 on Wednesday shall turn in both [1] white copy of exam; [2] completed blue answer sheet. Students taking their Exam #1 on Thursday shall turn in the completed blue answer sheet, will receive in exchange an answer key; you may keep your white copy exam. Students taking their Exam #1 on Wednesday may, after 11:15 AM Thursday, retrieve their white copy exam an answer key from the MH 228 suite secretary. 5. This Exam #1 is worth 200 points of a course total of 1,000 points. There are 35 questions graded as if there only are 33. Accordingly, each correct answer on Exam #1 is worth approximately 6 course points. 6. All appeals of this exam s questions must be: [6A] typed; [6B] signed by the student in three ways, typed name, hwritten signature, typed university identification number; [6C] immediately following the signature, list in sequence, solely by number, each of the questions being appealed; [6D] since this exam's design (i.e., 35 as 33) presumes two errors, harmless error exists with two flawed questions; thus, an appeal must appeal three or more questions must prove at least three questions to be objectively ambiguous for there to be one non-harmless error; [6E] after the [6C] list, argue each question, one at a time; [6F] at the beginning of each question s [6E] appeal, identify at least two reasonable meanings that the question could have had; [6G] in each [6E] appeal, argue why one or more of the [6F] identified reasonable meanings is as appropriate or is more appropriate than the meaning used for the answer key answer; [6H] the signed appeal must be personally hed to the instructor (or to the instructor's suite secretary in MH 228) no later than 11:59 AM (i.e., minute before noon) Wednesday, February 20th, time is of the essence. O'Hara 2013 E

9 Business Law Fundamentals Exam #1 Page 2 of 7 NOTES: A. Recall the material difference between i.e. (that is) versus e.g. (for example). B. Use bubble A for TRUE use bubble B for FALSE. C. If a question contains a number (e.g., Amendment IX), then the truth or falsity of that question never depends upon that number. This is not a test of trivia recall. This test is an objective demonstration of your subjective knowledge. D. For clarity in distinguishing a "principal" from a principal as well as distinguishing an "agent" from an agent, quote marks will be used for the generic words "principal" "agent" no quote marks will be used for the specific words principal agent. That is, "principal" "agent" refer to all three relationships (i.e., principal agent; principal independent contractor; employer employee). E. For clarity in distinguishing enforceable from unenforceable transactions, the word contract is not in quotes for an enforceable contract (e.g., a voidable contract elected to be enforced), whereas the word "contract" is in quotes for a transaction that is not an enforceable contract (e.g., a voidable contract that has been voided now is a void "contract"). F. The quote marks described in D. in E. may be the very essence of the question's truth or falsity. For example, it is true to say "An employee is one of the three relationships in "agent"."; it is false to say "An employee is an agent.". G. Different students have different versions of this Exam 1. For a student's blue bubble sheet to be correctly scored requires that student to record that student's version of this Exam #1. AT THE BOTTOM RIGHT OF THIS PAGE, WHAT LETTER FOLLOWS THE YEAR 2013? RECORD THAT LETTER AS YOUR ANSWER TO QUESTION 36. Failure to correctly record your version shall earn you a score of zero on Exam #1. O'Hara 2013 E

10 Business Law Fundamentals Exam #1 Page 3 of 7 QUESTIONS: 1. T F The Law (i.e., both the subset law the subject equity) tends to assign liability to those persons whose actions are both knowing voluntary. The Law favors using the objective over using the subjective. Express (e.g., written words) is objective while implied (e.g., oral words) also is objective. 2. T F Knowing comes in three forms: actual knowledge (i.e., scienter), receipt of notice, reason to know. 3. T F The Law recognizes many forms of person. A natural person has the same rights as a mere legal person. However, most often, The Law uses the Reasonable Person to judge whether to assign liability. 4. T F Objectively, a person is not harmed if that person waits an unreasonable amount of time to complain about the harm. Equity uses laches while the law subset of The Law uses a statute of limitations, potentially tolled out to the statute of repose. 5. T F The separation of powers between the three branches of government (i.e., legislative v. executive v. judicial) in the USA Constitution are implied, but express in Nebraska's Constitution. 6. T F Judicial review is at its strongest when the court is using substantive due process to actively protect the Person from government. 7. T F Procedural due process is satisfied if a USA government provides notice hearing: both proportional to the interests involved. 8. T F The Absorption Doctrine is an interpretation of the Commerce Clause (i.e., federal government's Commerce Clause absorbs the Police Power). 9. T F A trial court seeking to apply the law is free to choose which precedence to apply from among the three types of precedence: authoritative, binding, persuasive. O'Hara 2013 E

11 Business Law Fundamentals Exam #1 Page 4 of T F A person who both is injured in fact who is within the zone of protected interests has sting to sue;, might have privity. 11. T F The plaintiff's complaint must: allege a cause of action (e.g., libel per se); allege the court's jurisdiction; pray for a remedy the court has the power to grant. 12. T F The appellate court will reverse the trial court unless the trial court can demonstrate the facts clearly. 13. T F Negotiation does not (necessarily) involve a third party neutral. Facilitation, mediation, arbitration each involves a third party neutral. To be constitutional, that third party neutral must be as neutral as is a trial court judge. 14. T F The USA State governments are presumed to have power; that power is presumed to be concurrent with federal power if the federal government has an express power in the USA Constitution. 15. T F Preemption is not favored, but, it may be allowed if: [i] clear intent of Congress national interests outweigh State interests; or [ii] express intent of Congress a need for uniformity. 16. T F Good faith, might be required of a non-ucc consumers (e.g., common law consumer), UCC consumer, merchant, or a fiduciary. Good faith has a subjective part an objective part. The subjective part of that good faith is materially greater for all fiduciaries than for all non-ucc consumers. 17. T F The Police Power is the governmental power to regulate for The People's health, safety, general welfare. O'Hara 2013 E

12 Business Law Fundamentals Exam #1 Page 5 of T F Powers within the separation of powers are routinely evaluated using the concepts of core, penumbra, emanations. An express grant of power to a government is one type of core. One type of penumbra can be seen the federal Necessary Proper clause powers. An example of an emanation is the authority to do indirectly that which is not expressly prohibited. 19. T F Congress has the authority to regulate commerce with the foreign nations, among the several States, with the Indian Tribes. 20. T F Commerce that has a direct effect (i.e., direct result of commerce) is at the core of the Congressional power (i.e., transportation, manufacturing, mass retailing). The penumbra emanations of the Commerce Clause covers commerce that has a close substantial affect (i.e., close substantial cause of commerce). 21. T F The burden of proof in a criminal case is beyond a reasonable doubt. This burden is a setting of transaction costs to reflect both the separation of powers between the Person the government the routine vast disparity of actual worldly power between the parties. 22. T F USA States only have those powers expressly granted to them in the USA Constitution (e.g., the Police Power). 23. T F To be constitutional, governmental regulation of business must be accomplished using due process of law, must be for a public purpose, the government must pay the regulated firm just compensation for the costs caused by that regulation. 24. T F The Full Faith Credit clause of the USA Constitution requires the USA State governments to honor official actions by other USA States when brought into the receiving jurisdiction; subject to the receiving jurisdiction's fundamental constitutional rights. O'Hara 2013 E

13 Business Law Fundamentals Exam #1 Page 6 of T F Amendment I of the USA Constitution expressly protects the right of free speech. However, all USA governments may reasonably regulate speech. All reasonable regulation of the time, place, manner, content of speech is constitutional. 26. T F Substantive due process is provided by the judiciary for fundamental constitutional rights. All fundamental constitutional rights of the federal government are express constitutional rights; whereas, the fundamental constitutional rights of a USA State government of The People might be either express or implied rights. 27. T F Every government has sovereign immunity (until it surrenders it). However, sovereign immunity only exists for that government's Acts of State. 28. T F Al torts are civil 1 wrongs. All torts are fault based. 29. T F All torts have the same five elements: [i] defendant owes a duty of care to the plaintiff; [ii] defendant breaches that duty of care; [iii] plaintiff suffers damages; [iv] defendant's breach is the proximate cause of the plaintiff's injury; [v] the defendant has no defenses. For example, common law fraud exists if the defendant knowingly intentionally misrepresents a material fact thereby inducing the plaintiff's reliance causing the plaintiff's damages. 30. T F All of proximate cause is included within actual cause (i.e., proximate cause is smaller than actual cause). 31. T F The defendant has the defense of Assumption of the Risk if the plaintiff knowingly or voluntarily exposes the plaintiff to the defendant's breach. 1 Civil law as contrasted with criminal law; not civil law as contrasted with common law. O'Hara 2013 E

14 Business Law Fundamentals Exam #1 Page 7 of T F Parties, time, consideration, subject matter each, typically, is material to a transaction. For example, a change in time typically would change the mind of the Reasonable Person. 33. T F Each USA State's legislature has broad powers to classify persons as to similarly situated as to similar treatment. The State legislature is at the core of its power when regulating social economic issues. The State legislature is in the penumbra of its power when regulating suspect classes (e.g., gender, legitimacy, or hicap). The State legislature is in the emanations of its power when regulating topics over which it has no authority (i.e., race, national origin, or citizenship). 34. T F Procedural due process makes a criminal statute void for vagueness if when the Reasonable Person reads that statute the Reasonable Person can not reasonably know what is the prohibited bad act or what is the prohibited bad thought; both of which are necessary for the legislature to specify when the legislature makes a crime. 35. T F Because the specific controls the general, the independent contractor of the principal has all tort liability. (Recall page 2 its NOTEs D through G.) O'Hara 2013 E