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Exam 24: Appendix: Working Within the Legal Environment

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Question 41

True/False

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The Maricopa County Planning Commission is an example of a local administrative agency.It oversees land-use proposals and other long-range issues in Maricopa County,Arizona.

A) True
B) False

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Question 42

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A(n) __________ tort is a willful act that results in injury.

A) negligent
B) intentional
C) common
D) statutory

E) B) and C)
F) C) and D)

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Question 43

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When the California electric power industry was deregulated in the late 1990s customers were able to shop for electricity in a market packed with power suppliers competing for business.

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

The European Union currently levies certain Internet taxes.

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

Under contract law,an agreement for the sale of goods worth $50 or more must be in writing.

When a payee signs the back of a check the payee's signature is referred to as an endorsement.

Which of the following can review and,when necessary,overturn decisions made at the trial court level?

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

"Exclusive dealing" means selling goods with the condition that the buyer will not buy goods from a competitor.

The section of the Bankruptcy Code that allows a business to reorganize and pay only a limited proportion of its debts is Chapter:

Chapter 13 bankruptcy permits individuals and small-business owners to repay creditors over a period of three to five years.

The number of Americans filing for bankruptcy each year has increased since the late 1980s.

Sales taxes are the largest source of tax income received by the federal government.

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

A patent gives inventors exclusive rights to their inventions for:

Which of the following is considered as a cause for the significant increase in bankruptcies?

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

Over __________ percent of patent applications are approved.