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Exam 21 :test Planning Table for Bonus Exam A

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Question 111

True/False

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

A) True
B) False

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Question 112

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Common law is based on the precedent of earlier court decisions.

A) True
B) False

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Question 113

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If State University violates its housing contract with a student,the student is prohibited from suing the university for damages because the contract was for the delivery of services rather than the delivery of goods.

Explain two of the major U.S.antitrust laws.

Contract law is a set of laws that covers sales laws and other commercial laws.

If in the normal course of a job an employee creates a cartoon,the copyright belongs to the employer.

The Sarbanes-Oxley Act was passed to help allay consumer fears concerning falsified corporate financial statements.

The Sarbanes-Oxley Act requires CEOs to verify the accuracy of their firms' financial statements to the SEC.

Copyrights can be passed on to the creator's heirs.

The Federal Trade Commission Act prohibits unfair methods of competition.

Chapter 11 bankruptcy is a way for sick companies to recover and is designed to help both debtors and creditors find the best solution.

Copyrights are filed with the Library of Congress and involve large amounts of paperwork.

Under contract law,"damages" are the monetary settlements awarded to a person who is injured by a breach of contract.

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

One result of deregulation in the airline industry has been:

The changing nature of U.S.business from manufacturing to knowledge technology has led to the call for new levels of regulation from federal agencies.

A patent gives inventors exclusive rights to their inventions for 20 years.

Income taxes include taxes paid on real and personal property.

The Federal Trade Commission enforces laws and guidelines regarding unfair business practices.

The primary objective of a tax credit is to encourage businesses to behave in certain ways.One example is offering a tax credit to automobile manufacturers for the purchase of robotics used in the manufacture of automobiles.