Question 1

An attorney in the business context is called

Accepted Answer

A)   Barrister
B)   Esquire
C)   Counsel
D)   JurisdoctorE) A) and B)
F) C) and D)

Question 2

Origins of the law derived from chieftans and was intended to

Accepted Answer

A)   Protect the dominion of the chieftans
B)   Protect the individual's rights
C)   Promote fair dealing and good faith in business transactions
D)   Promote uniformity in the law throughout the landE) A) and C)
F) C) and D)

Question 3

The state of Virginia enacts a statute that states no private citizen may own or possess a gun. This statute will

Accepted Answer

A)   Be declared unconstitutional because a state law cannot violate the Second Amendment of the U.S. Constitution.
B)   Be held constitutional as long as the state of Virginia has a substantial governmental interest.
C)   Be limited in jurisdiction and apply only in the state of Virginia.
D)   Be declared unconstitutional only if it violates the constitution of Virginia.E) A) and C)
F) A) and D)

Question 4

Andre, Michael and Reed go on a hunting trip to Texas, leaving their good buddy Evan behind to run the business they own together as partners. In a fit of jealousy and rage, Evan burns the business to the ground. Which statement below is correct?

Accepted Answer

A)   Since Evan's actions were criminal, he can only be held criminally responsible and the other partners will have pay for the repair to the business
B)   Since Evan's actions were criminal, he could be held criminally liable and since his actions caused monetary damages to the business, he could also be held civilly liable to his partners for the damages.
C)   Evan will only be held civilly liable since no person was injured and it was only monetary damages.
D)   Evan will not be liable criminally or civilly unless he violated a statute.E) B) and C)
F) A) and B)

Question 5

In commerce today, the intent of laws are all of the following except

Accepted Answer

A)   To promote good faith
B)   To promote maximum profits
C)   To encourage fair dealing
D)   To create reliabilityE) A) and C)
F) A) and B)

Question 6

The United States Constitution is consistently amended to reflect the current societal needs.

Accepted Answer

A) True 
 B)False

Question 7

Sherry attends a training session at her job as a contract administrator. The presenter continually refers to the term "force majeur" which is unclear to Sherry. What is this an example of?

Accepted Answer

A)   Legalese
B)   Primary authority
C)   Secondary authority
D)   Ethical constructsE) B) and C)
F) A) and C)

Question 8

Packingham, a registered sex offender in North Carolina, was convicted of a felony for violating a North Carolina law which made it a felony for a registered sex offender to access social media sites that allowed minor children to as well. Packingham appealed his conviction to the U.S. Supreme Court which overturned his conviction stating that the law was unconstitutional because it impermissibly restricted lawful speech and violated the First Amendment. The opinion of the U.S. Supreme Court is

Accepted Answer

A)   Secondary Authority
B)   Civil law
C)   Precedent
D)   RegulationsE) All of the above
F) A) and D)

Question 9

Which statement below is correct as it relates to business strategy?

Accepted Answer

A)   Since legal fees and representation costs have sky-rocketed, large businesses should focus on hiring one attorney to address all their legal needs.
B)   Those in managerial roles should learn more about the law so as to decrease their need for legal representation.
C)   Since the law has become increasingly complex and specialized, and businesses routinely face many different legal issues, it is not unusual for a business to need to seek advice from more than one attorney.
D)   All business decisions should be run by an attorney before the business moves forward with any plans.E) None of the above
F) A) and C)

Exam 1: Legal Foundations and Thinking Strategically

Origins of the law derived from chieftans and was intended to

Correct Answer
verified

Which statement below is correct as it relates to business strategy?

Correct Answer
verified

The United States Constitution is consistently amended to reflect the current societal needs.

Correct Answer
verified

Sherry attends a training session at her job as a contract administrator. The presenter continually refers to the term "force majeur" which is unclear to Sherry. What is this an example of?

Correct Answer
verified

The state of Virginia enacts a statute that states no private citizen may own or possess a gun. This statute will

Correct Answer
verified

Andre, Michael and Reed go on a hunting trip to Texas, leaving their good buddy Evan behind to run the business they own together as partners. In a fit of jealousy and rage, Evan burns the business to the ground. Which statement below is correct?

Correct Answer
verified

Correct Answer
verified

An attorney in the business context is called

Correct Answer
verified

In commerce today, the intent of laws are all of the following except

Correct Answer
verified

Exam 1: Legal Foundations and Thinking Strategically

Origins of the law derived from chieftans and was intended to

Correct AnswerverifiedShow Answer

Which statement below is correct as it relates to business strategy?

Correct AnswerverifiedShow Answer

The United States Constitution is consistently amended to reflect the current societal needs.

Correct AnswerverifiedShow Answer

Sherry attends a training session at her job as a contract administrator. The presenter continually refers to the term "force majeur" which is unclear to Sherry. What is this an example of?

Correct AnswerverifiedShow Answer

The state of Virginia enacts a statute that states no private citizen may own or possess a gun. This statute will

Correct AnswerverifiedShow Answer

Andre, Michael and Reed go on a hunting trip to Texas, leaving their good buddy Evan behind to run the business they own together as partners. In a fit of jealousy and rage, Evan burns the business to the ground. Which statement below is correct?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An attorney in the business context is called

Correct AnswerverifiedShow Answer

In commerce today, the intent of laws are all of the following except

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified