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5 Written questions

5 Matching questions

  1. 13. Wal-Mart, Target and Costco, all discount retailers, decide to sell Shaquille O'Neal's, an NBA superstar, new instructional video "I can't shoot free throws, but you can!" They all agree that they will all sell the popular video for $49.99 (most videos of this type are priced at $19.95) and at no other price. This is an example of which of the following?

    A. Division of markets
    B. Tying Arrangement
    C. Price fixing
    D. Resale price maintenance
    E. Group boycott
  2. 19. Chanel, Prada, Louis Vuitton, and Gucci, all snotty, high-end and expensive fashion designers of fashion designer clothes, each individually decide that they will not sell their own snotty, high-end, and expensive fashion designer clothes to Wal-Mart, Target and Costco, all discount retailers, because the proletariat Wal-Mart, Target and Costco are not the suitable outlets to sell the designers' bourgeois snotty, high-end, and expensive fashion designer clothes. Wal-Mart, Target and Costco sue Chanel, Prada, Louise Vuitton, and Gucci for violating Section 1 of the Sherman Act by engaging in an unreasonable restraint of trade. Which of the following is (are) true?

    A. Chanel, Prada, Louise Vuitton, and Gucci have engaged in an illegal group boycott
    B. Chanel, Prada, Louise Vuitton, and Gucci have engaged in an illegal division of markets
    C. Chanel, Prada, Louise Vuitton, and Gucci have engaged in legal conscious parallelism
    D. Chanel, Prada, Louise Vuitton, and Gucci have engaged in an illegal price discrimination
    E. A and D
  3. 24. The "Howey test" is used to determine whether a sale of something is an "investment contract" and therefore a security that is subject to federal securities laws. Which of the following is not an element of the Howey test?

    A. Expect to make profits off the significant effort of others
    B. Investment of money
    C. Common enterprise
    D. Oil, gas, and mineral interest
    E. None of the above
  4. 12. The Frog Inc. saga continues. Frog Inc. wants to retain its current French-socialist management during the bankruptcy proceedings. Although current management has missed the dietary changes of Americans to modern types of cuisine, management has not engaged in fraud nor wasted corporate assets. All managers agrees to obtain M.B.A. degrees from USC and become capitalist imperial dogs. They also agree to go to Charm School for one year. Management is therefore allowed to remain in place during the bankruptcy under which of the following doctrines?

    A. Reaffirmation contract
    B. Executory contract
    C. Lien release
    D. Debtor in possession
    E. Cram down
  5. 31. Lexus Motors and Infiniti Motors sell two high-end pricey automobiles in the United States market. In order to not compete with each other and to therefore keep their prices high for their automobiles, the presidents of the two companies agree that Lexus will sell cars in the states west of the Mississippi River and Infiniti will sell cars in states east of the Mississippi River, and neither will sell cars in the others geographical territory. Which of the following rule applies in examining whether this agreement violates antitrust law:

    A. Rule of reason
    B. Tying arrangement rule
    C. Per se rule
    D. Price discrimination rule
    E. None of the above
  1. a D. Oil, gas, and mineral interest
  2. b C. Price fixing
  3. c C. Chanel, Prada, Louise Vuitton, and Gucci have engaged in legal conscious parallelism
  4. d C. Per se rule
  5. e D. Debtor in possession

5 Multiple choice questions

  1. D. B and C
  2. D. Ally is not liable because she has not breached a duty of loyalty by competing with MatchmakingLA.com
  3. D. A and C
  4. D. A and B
  5. D. Area franchise

5 True/False questions

  1. 9. Securities sold pursuant to the intrastate offering exemption are "restricted" securities (cannot be sold to out-of-state purchasers) for what period of time?

    A. Six months
    B. Nine months
    C. One year
    D. Two years
    E. Three years
    B. Nine months

          

  2. 38. Dr. Phil and Dr. Kevorkian are doctors and member-owners of "Beverly Hills Liposuction, LLP," a limited liability partnership (LLP) engaged in the practice of medicine. The doctors provide liposuction surgery whereby they surgically remove excess fat from patients to make their patients look skinnier. While performing a liposuction surgical operation on J-Lo's convex butt, Dr. Phil sucks out too much fat and J-Lo becomes disfigured with a concave butt. Since Liposuction LLP has no money, J-Lo sues Dr. Phil and Dr. Kevorkian to recover monetary damages for her injuries. Which of the following statements is (are) true?

    A. Dr. Phil is liable
    B. Dr. Kevorkian is liable
    C. Dr. Kevorkian is not liable
    D. A and B
    E. A and C
    E. A and C

          

  3. 7. (from class) John Deere Corporation, which makes and sells large farm equipment, sells a $500,000 piece of farm equipment on credit to Farmer John, a farmer. Farmer John signs a credit agreement in which he agrees to pay John Deere $100,000 plus 10% interest on the outstanding balance each July 1 for the next five years. The farm equipment is made collateral for the secured loan. John Deere files a financing statement in the state's recording office to perfect its security interest in the farm equipment. This is covered by _________________ of the Uniform Commercial Code (UCC).

    A. Article 2
    B. Article 2A
    C. Article 3
    D. Article 7
    E. Article 9
    A. Executory contract

          

  4. 4. Which section of the Securities Act of 1933 imposes criminal liability on defendants?

    A. Section 11
    B. Section 12
    C. Section 10(b)
    D. Section 32
    E. Section 24
    E. Section 24

          

  5. 8. Bree, Gaby, Eddie, and Lynette form "Wisteria Lane LLC" which operates a home catering service and provides food, flower, photography, and other services for weddings. It is a member-managed LLC. Which of the following is true?

    A. Bree can bind the LLC to contracts with third parties
    B. Bree can compete with the LLC by offering her own wedding planning and production services
    C. Bree has the right to participate in the management of the LLC
    D. A and C
    E. A, B, and C
    D. A and C