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BUL-2241 (Quiz #3)
Terms in this set (20)
Rules imposed by Federal Agencies (such as the Department of Education, or Homeland Security) are considered laws, with the same power as statutes created by Congress.
Agencies have a variety of powers. Many of the original statutes that created them, like the Federal Communications Act, gave them licensing power. No party can enter into the productive activity covered by the act without prior license from the agency—for example, no utility can start up a nuclear power plant unless first approved by the Nuclear Regulatory Commission.
Please choose the best answer. Congress creates laws, and executive agencies then create specific rules and regulations to enforce these laws. Agencies are usually:
(All of the Above)
Given Powers to Investigate
Given Power to Set Standards
Given power to Enforce Rules
Directors of Federal Agencies petition Congress directly for increases in their annual budgets.
Agencies make rules that have the same effect as laws passed by Congress and the president. But such rules (regulations) must allow for full participation by interested parties.
A crime punishable by imprisonment of more than one year in jail is called a:
Taking and carrying away of the personal property of another with intent to deprive the true owner of his (or her) possession is called:
Although bribing government officials is illegal in the USA, an American company can pay bribes within a foreign country if there are no laws preventing it. For example, if the custom in some Latin American and Middle Eastern countries is for local businesses to pay bribes....US companies can pay bribes too. It is considered a cost of doing business.
Which of the following statements about business related crime is correct:
Although proving the intent to commit a crime (the mens rea) is essential, the intent can be established by inference (circumstantially). Conspirators may not actually commit a crime, for example, but in preparing for a criminal act, they may be guilty of the crime of conspiracy. Certain corporate officers, as well, may not be directly committing criminal acts but may be held criminally responsible for acts of their agents and contractors.
Corporate officers may be held liable for the acts of their agents.
A tort is a civil wrong, for which the law will provide a remedy to the plaintiff. Most often the remedy is in the form of money damages.
For a plaintiff to succeed in a tort lawsuit, the defendant always must possess some level of fault.
Punitive damages are a punishment to the defendant. For example, the makers of the weed-killer Round-up lost a lawsuit in California to a couple who developed cancer after 30 years of exposure. Compensatory damages were $58 Million, but the jury imposed $2 Billion in punitive damages. This principle proves that punitive damages are generally available in all tort cases.
In business, it's not uncommon for a competitor to interfere with a competitor's contract with a customer (in an effort to attract that customer). However, this can be illegal. To prove Tortious Interference with a Contract a plaintiff must prove which of the following:
(All of the above are required.)
There was a contract between the plaintiff and a third party.
The defendant knew of the contract.
1.The defendant improperly induced the third party to breach the contract or made performance of the contract impossible.
There was injury to the plaintiff.
Defamation is injury to a person's good name or reputation. In general, if the harm is done through the spoken word—one person to another, by telephone, by radio, or on television—it is called libel. If the defamatory statement is published in written form, it is called slander.
Privacy law is one of the fastest growing areas of business law, because the are legitimate disputes about who owns a consumer's data. Courts have held that individuals have:
(1) , (2) the right to be free of intrusion on your "personal space" or seclusion, (3) freedom from public disclosure of embarrassing and intimate facts of your personal life, and (4)
The right not to be presented in a "false light."
Most businesses that are sued, are sued on a claim of negligence. Which of the following is an element of Negligence?
(All of the above are required)
Duty of Care
Breach of Duty
The Uniform Commercial Code (or UCC) is a model law developed by the American law Institute and the National Conference of Commissioners on Uniform State Laws; it has been adopted in one form or another in all fifty states, the District of Columbia, and the American territories. It is the only "national" law not enacted by Congress.
Which of the following is not one of the main sections, or Articles, of the UCC?
Article 1 - Real Estate
Before the UCC was written, commercial law varied, sometimes greatly, from state to state. This first proved a nuisance and then a serious impediment to business as the American economy became nationwide during the twentieth century. While there is some variance, as states have modified their version of the UCC over the years....there is more uniformity in business law today thanks to the UCC.
Article 2 of the UCC applies only to the sale of goods between merchants, and only applies to goods valued at $500 or more.
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