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Exam 21 :test Planning Table for Bonus Exam A

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Question 41

True/False

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The Clayton Act prohibits interlocking directorates.

A) True
B) False

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Question 42

Multiple Choice

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Which of the following would cause a contract to be void?

A) consideration
B) mutual acceptance
C) competent parties
D) duress

E) A) and B)
F) A) and C)

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Question 43

True/False

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Negotiable instruments are forms of commercial paper.

John Fielder is a renowned photographer of the Colorado Rocky Mountain region.Each of his works is copyrighted.This means that anyone can use his photos so long as they give Mr.Fielder notice.

Filing for bankruptcy under the Chapter 11 provisions allows a company to reorganize and continue operations while paying only a proportion of its debts.

A full warranty limits the defects or mechanical problems that are covered in a product.

One purpose of the Robinson-Patman Act is to outlaw price differences that "substantially" weaken competition.

Producers of government approved drugs and chemicals cannot be sued by individuals who develop side effects years later.

Some economists advocate a ____________ on the consumption of such products as gasoline,liquor,cigarettes,and even soda pop,in the hope that consumers will think about how their purchases are having negative impacts on themselves and their environment.

The number of personal bankruptcies has:

Unintentional behavior that causes harm or injury is an example of a tort.

A warranty guarantees that the product sold will be acceptable for the purpose for which the buyer intends to use it.

The Federal Trade Commission deals with issues such as preventing companies from making misleading "Made in the USA" claims.

Chicago's mayor has just signed legislation requiring fire sprinklers in every public school.This is an example of:

The branch of the government responsible for overseeing the legal system is the:

Criminal law defines crimes,establishes punishments,and includes payment for personal injury.

The Dodd-Frank Wallstreet Reform and Consumer Protection Act evolved from the mortgage industry meltdown,which was the consequence of deceptive behavior of professionals on Wall Street and uninformed consumers who risked too much and purchased homes whose future monthly payments were more than they could afford.The agency that was created to provide consumers with accurate information so they can make informed decisions about loans and other financial instruments is known as _____________________.

The Robinson-Patman Act applies only to sellers who "knowingly" induce an unlawful discrimination in price.

A __________ is a legally enforceable agreement between two or more parties.

Most bankruptcies today are involuntary because creditors want to retrieve as much of their money as possible.