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Exam 24: Appendix: Working Within the Legal Environment

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Question 31

True/False

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

A) True
B) False

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Question 32

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Public utility commissions are federal agencies.

A) True
B) False

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Question 33

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A(n) _________ guarantees that the product you buy will conform to the customary standards of the trade/industry.

When John Dough was brought to court accused of robbing a bank,he was prosecuted under civil law.

The City of New Orleans filed suit against certain gun manufacturers for financial payments to cover the costs of police work and medical care as a result of gun violence.This suit was based on the legal principle of:

Utilizing the bankruptcy laws,Yankee Distribution petitioned the court to reorganize and continue operations while paying only a limited proportion of its current debts.This represents an example of a Chapter ________ bankruptcy.

The language used in statutory law often requires interpretation by the courts.

If an automobile manufacturer unknowingly sells a defective product that causes an injury,the manufacturer is protected from product liability lawsuits.

__________ often help to pay for highway construction or improvements.

The intent of the Sherman Antitrust Act of 1890 was to encourage the growth of large business organizations in the U.S.in order to compete with more established firms in Europe.

If I agree to sell you my bike for $50 and we are both competent individuals we have a contract.

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

Michael opened a new bakery.He had always admired the cute,friendly face of the Pillsbury Doughboy so as a tribute to Pillsbury,he decided to use it as his company's logo.Not long after Pillsbury sued him for:

One of the benefits that deregulation is supposed to provide to customers is:

Traditionally,taxes have been used as a source of funding for government operations and programs.

Business law creates the legal framework for the enforcement of criminal statutes.

Big Buxx National Bank has decided to change its advertising campaign.In the new campaign it will announce that the bank has the lowest bank fees in the country even though it has not done research to discover whether this is,in fact,true.Business law is the framework within which a competitor could take Big Buxx to court in the event its claims are not true.

Common law is the body of law established through legislative action by Congress.

A check is an example of a negotiable instrument.

Tort law involves criminal acts where victims can be awarded compensation.