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True. Holly, a lawyer on the staff of International Group, applies the utilitarian theory of ethics in business contexts. Utilitarianism focuses on the consequences of an action. In making decisions for -------------------------------------------------------------------------------------------------------------United Merchandising Company, Viv incorporates a social cost-benefit analysis. This is part of utilitarianism. An ethics program can clarify what a company considers to be unacceptable conduct. True. The roles that women play in some foreign countries may present some difficult ethical problems for firms doing business internationally. True. Establishing which duties take priority over others determines a firm’s views on corporate social responsibility. True. Bribery of foreign government officials is both an ethical and a legal issue. True. Kit follows certain religious principles. With respect to the behavior of Kit and other adherents of her religion, its principles are most likely absolute. An action may be unethical but legal. True. As a judge, Jay applies common law rules. These rules develop from decisions of the courts in legal disputes. In an action against Elin, Frank obtains a remedy. This is the legal means to recover a right or to redress a wrong. -Net Corporation files a suit against Omega, Inc., alleging that Omega breached a contract to sell Net a computer system for $100,000. Net is the plaintiff. Hawaii enacts a state law that violates the U.S. Constitution. This law can be enforced by no one. Damages is a modern form of the traditional "remedies at law." True. The Federal Trade Commission is a government agency that issues rules, orders, and decisions. The Georgia state legislature enacts statutes. The Jackson County Board and the Peach City Council enacts ordinances. Administrative law includes the rules, orders, and decisions of the Federal Trade Commission. The Montana Supreme Court decides the case of National Co. v. Overseas Corp. Of nine justices, six believe the judgment should be in National's favor. Justice Peel, one of the six, writes a separate opinion. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. The opinion joined by the four justices who favor Overseas is known as a dissenting opinion. In Abel v. Baker, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Charles v. Delta, a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
v.. False Testimony given in court about what someone heard someone else say (hearsay) is not admissible as evidence. This is an equitable remedy only. Peel's opinis known as a concurring opinion. advertises on the Web. writes a separate opinion." True. The Montana Supreme Court decides the case of National Co.000. False Ula wants to initiate a suit against Valley Farms by filing a complaint. The complaint should include a statement of the facts necessary to show Ula is entitled to relief. The Montana Supreme Court decides the case of National Co. v. The United States Supreme Court has appellate authority over all cases decided in the state courts. one of the six. Of nine justices. True. alleging that Omega breached a contract to sell Net a computer system for $100. Damages is a modern form of the traditional "remedies at law. Overseas Corp. Of nine justices. . Justice Peel. Net is the plaintiff. Net Corporation files a suit against Omega. True. Justice Peel. writes a separate opinion. one of the six. Leo obtains specific performance. six believe the judgment should be in National's favor. A court in North Dakota would be most likely to exercise jurisdiction over LCD if the firm conducted substantial business with North Dakota residents through its Web site. Cy files a suit against Digby Corporation. A brief includes a statement of the applicable law in a case. a firm in Minnesota. Inc. Overseas Corp. Service of process is the process of obtaining information from an opposing party before trial. These opinions are collected and published in volumes called reporters.allow the minor to cancel the contract. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. In a suit against Kit. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. six believe the judgment should be in National's favor. A motion for a new trial will be granted only if the trial judge feels that it is appropriate to grant a judgment for the other side. This is a motion for summary judgment. False LCD TV Company. Digby responds that it appears from the pleadings the parties do not dispute the facts and the only question is how the law applies to those facts. False Venue is the term for the subject matter of a case. Digby supports this response with witnesses' sworn statements.
Of nine justices. a state supreme court held that a minor could cancel a contract for the sale of a car. Testimony given in court about what someone heard someone else say (hearsay) is not admissible as evidence. Jay applies common law rules. Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case. Court of Appeals for the Second Circuit.C.S. In Abel v. a jury verdict will specify the amount of the damages to be paid by a losing party. These rules develop from decisions of the courts in legal disputes. The Court is not required to hear the case. Section 1332" means that a statute can be found in section 1332 of title 28 of the United States Code. and loses again. True. True. False A reference to "28 U. appeals to the U. the attorney for Eateries can file a motion for a directed verdict or present the defendant's case. the trial court is likely to allow the minor to cancel the contract. Inc. including those in which the laws have not been adopted. The Montana Supreme Court decides the case of National Co. Baker. six believe the judgment should be in National's favor. Diners Corporation files a suit against Eateries. Delta. Uniform laws apply in all states. Boyd files a suit in a federal district court against Cathy. Overseas Corp. v. Digby responds that it appears from the pleadings the parties do not dispute . After Diners' attorney's presents the plaintiff's case. Now a trial court in the same state is deciding Charles v. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. a case with similar facts. one of the six. Under the doctrine of stare decisis. Cathy loses the suit. Peel's opinis known as a concurring opinion.As a judge. Justice Peel. True.S. writes a separate opinion. Cathy asks the United States Supreme Court to hear the case. Cy files a suit against Digby Corporation. True. In some cases.
Inc. The attorney for Eateries also questions Floyd (witness for the plaintiff) after the Diners Corporation's lawyers have questioned him.. Digby supports this response with witnesses' sworn statements. True. applies the utilitarian theory of ethics in business contexts..com" as a domain name by All-USA Overseas Exports. False Kit follows certain religious principles. In ethical terms. IFI files a suit against KC and engages in service of process. its principles are most likely absolute. Under this theory. Inc. In the interest of preserving personal freedom. Service of process must provide notice and an opportunity to respond. Establishing which duties take priority over others determines a firm's views on corporate social responsibility." a famous brand of clothing. Utilitarianism focuses on . Inc. a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals. True. Service of process must be by whatever means is reasonably calculated to do the job. (IFI). Holly.. the owner of Super Stores. an accountant for Engineering Associates. Inc. a lawyer on the staff of International Group. This is a motion for summary judgment. Dion. Kopy Company (KC) begins to use "jeansdenim" as part of a domain name. disputes the use of "all-usa. With respect to the behavior of Kit and other adherents of her religion. adheres to the "principle of rights" theory. and files a suit to resolve the dispute. Rob. Ltd. Inc. Indelible Fabrics. a key factor in determining whether a business decision is ethical is how that decision affects the rights of others. makes "Jean's Denim.. This approach is based on the idea that a person must avoid unethical behavior regardless of the consequences.the facts and the only question is how the law applies to those facts. the law codifies ALL ethical requirements. This is a cross-examination. Diners Corporation files a suit against Eateries. All-USA Imports. attempts to apply the duty approach to ethical reasoning in conflicts that occur on the job. Without IFI's consent.
a dairy farmer. In this context. Her job includes putting "spin" on the firm's successes and failures. ethics consist of questions of rightness and wrongness. without a trial. . a Dutch firm. Alternative dispute resolution methods are generally less expensive and time consuming than actual litigation. ICANN's purpose is to oversee the distribution of domain names.. uses the services of the Internet Corporation for Assigned Names and Numbers (ICANN).S. health. are engaged in court-annexed arbitration proceedings. True. Inc. The award will be binding on neither Berle nor Clover. safety. "Assisted negotiation" describes proceedings for minors and other parties who lack contractual "capacity. on all street vendors who operate within the state. Global Enterprises. Faraway Sales Corporation. South Carolina enacts a statute to impose a prison term. a U." False Berle. The state of New York regulates private activities to protect or promote the public order. and general welfare under its police powers. and Clover Creamery. This requires that the employees weigh the consequences that would follow if everyone acted the same. Inc. and Globe Transport. Lia works for Media Marketing Company. True. A court would likely hold this to be unconstitutional under the due process clause. Global Distribution Corporation suggests that its employees apply the "categorical imperative" to ethical issues that arise at work. Review of a law on a substantive due process basis and review of a law on an equal protection basis considers some similar questions. enter into a contract that includes an arbitration clause.the consequences of an action. Any law that distinguishes between or among individuals violates the equal protection clause. firm. This clause provides that the arbitrator could be any mutually agreeable third party..
False Fay is admitted to Global Associates. have contributed capital. which exports technical equipment under a three-year partnership agreement. LP. In his suit against the city. A partner may use and possess partnership property for any purpose. is a limited partnership to which its partners. including Fink.False Beachside City enacts an ordinance that bans the distribution of all printed materials on city streets. One advantage of the limited liability company form. is its . The extent of implied authority is generally broader for agents than for partners. True For purposes of suing or being sued. Energy Unlimited. its assets will be distributed to pay Graves first. False Lui is considering forms of business organization for a chain of Magic Trix novelty stores. Jody's liability is unlimited. with respect to tax options. True A limited partner who gives a general partner advice on matters relating to the management of the partnership cannot be liable as a general partner. a limited liability company is a legal entity apart from its owners. J&K dissolves immediately unless the partners change its business. government declares that the equipment can no longer be exported. a sole proprietorship. a court would likely hold the printed-materials ban to be unconstitutional under the First Amendment. Carl opposes the city's latest "revenue-enhancing" measure and wants to protest by distributing handbills. False Jim and Kyle are partners in J&K Sales. Jody owns KuppaJava Kiosks. Fay is only liable for the debt up to the amount of his capital contribution. Inc. a partner can be exempt from personal liability for partnership obligations.S. The U. A partnership debt incurred before the date of her admission comes due. Energy's creditors include Graves Engineering. In a limited liability partnership. On Energy's dissolution. an existing partnership.
Under this circumstance. an officer is not expected to be informed on corporate matters. unless the members have agreed otherwise. Frawsty's board of directors can delegate some of its functions to Frawsty's officers. Directors are rarely compensated and cannot set their own compensation. False An agent owes his or her principal a duty to act in good faith True If a principal does not ratify an unauthorized contract. True Ruby indicates that she is acting as an agent on behalf of an unidentified client when she enters into a contract with Saldana. Eager Beaver is most likely a de facto corporation. is a limited liability company.flexibility. False A state constitution may restrict a corporation's implied powers. participants in the firm's management will be considered to include all members. An independent contractor is an employer who controls his or her agent's performance. definite terms True . True Frawsty Corporation distributes beverages in the greater Northwest. The unidentified client is a partially disclosed principal. If the law in CPA's state is like the law in most states. False Express authority is authority declared in clear. LLC. Unlike a director. True Eager Beaver Corporation fails to hold its organizational meeting to adopt bylaws. direct. Directors are required to exercise a reasonable amount of supervision over the corporate officers. the principal is not bound. CPA Accounting.
Dan. a national vehicle service firm. and Equip Enterprises. This is a group boycott. False Della. True Futuro Products. a manufacturer of vehicle parts.. Eve is liable.. Market share and market concentration are the only factors for analyzing the anticompetitive effects of a merger. Inc. To bring an action against the firm requires that its conduct have a significant impact on interstate commerce. an officer for Energy Petrol Corporation (EPC). Inc. signs an agreement with Fred on Eve's behalf but neglects to tell Eve that the agreement requires the payment of a certain tax. This is a price-fixing agreement.. A market division by class of customer between rival firms does not violate antitrust law. This is exclusive dealing. an agent for Eve. Dextros Harvest Company. a competitor.. buys 100 shares of EPC stock. and Golly Clubs Corporation lobby the Consumer Product Safety Commission to repeal a rule regulating the manufacture of golf clubs and other golfing products. This joint effort is probably exempt from antitrust enforcement.. on Kondor's agreement not to buy products from Lite Kerosene Company. True Health World Corporation may be engaging in conduct that violates the Sherman Act. Rally Speedboat Corporation refuses to sell its products to Sporty Weekends. Fairway Products. has exclusive control over the market for its product. A firm can have monopoly power without violating antitrust law. EPC announces . One week later. False Crop Yield Corporation. A principal is liable for harm caused to a third party by an agent who commits a tort while acting in the scope of his or her employment True An attempt to monopolize a market can violate antitrust law True Jett Fuel Corporation conditions future shipments of its products to Kondor Airlines. Inc. The government prosecutes Eve for failing to pay the tax. refuses to sell to We-Fix-It. The firms agree to sell their products for the same prices. because Dan's knowledge is imputed to Eve. Inc.. Inc.. Market power is the extent to which a firm can exclude competition. Inc. to do the same. This is a unilateral refusal to deal. Velvet Chassis convinces Xpert Motor Parts Company. Velvet Chassis. are farm-equipment distributors that control 90 percent of the market for their products in a certain geographic area. Futuro's market power is subject to evaluation under the Sherman Act. Jett's competitor. Inc. a recreational water products dealership.
wants to issue stock of $1 million in a single offering. and its officers. she had waited more than six months to sell it. In this circumstance. Inc. One month later. its business. An agent owes his or her principal a duty to act in good faith True A principal is liable for harm caused to a third party by an agent who commits a tort while acting in the scope of his or her employment True Except in limited circumstances.. buy and sell securities. Country does not have to provide any investors with any material information about itself.that it will merge with a competitor. a principal is not usually liable for an agent's crime simply because it was committed while the agent was acting within the scope of employment. Poppy has apparent authority. after buying the stock. Based on Nan's conduct. Under the doctrine of respondeat superior. Nouveau Riche Corporation. and the price of EPC stock increases. False Cooperative research by small-business firms is exempt from antitrust law. True Agency relationships exist only outside employment relationships False Ozzy is an officer of Prudent Financial Corporation. directors. and shareholders. True . or its securities is all investors are accredited. Della would not be liable if. Inc. an agent is liable for the principal's negligence. Ozzy is an agent and has the authority. Ozzy serves in a representative capacity for Prudent Financial's owners. Country Golf Club. Fuel Oil Company. Scienter is a requirement for liability under Section 10(b) of the Securities Exchange Act of 1934 True Hobie. intentionally understates the amount of IGI's debts in information provided to investors as part of an issue of IGI stock. SEC Rule 10b-5 applies to the purchase or sale of any security. Jack buys the stock and suffers a loss. (IGI). Della sells her shares for a profit. True An attempt to monopolize a market can violate antitrust law. the chief executive officer of Ideal Gamers. Odel reasonably believes that Poppy has the authority to act on Nan's behalf even though Poppy does not have the actual authority to do so. With respect to binding Prudent Financial to contracts. Under Section 16(b) of the Securities Exchange Act of 1934. Hobie may be subject to government prosecution and Jack's suit.
markets. EPC announces that it will merge with a competitor. Scienter is a requirement for liability under Section 10(b) of the Securities Exchange Act of 1934.. A merger between firms that compete with each other in the same market is a vertical merger. Fuel Oil Company. One week later. Inc. buy and sell securities. The agreement between CCE and DDC violates the Sherman Act. makes Lightning-brand all-terrain vehicles and accessories. and Golly Clubs Corporation lobby the Consumer Product Safety Commission to repeal a rule regulating the manufacture of golf clubs and other golfing products. This deal i legal. Inc. True New Discoveries Corporation. after buying the stock. This joint effort is probably exempt from antitrust enforcement. Acquiring monopoly power through anticompetitive means violates antitrust law. This is most likely an illegal restraint on trade. Competition between the firms leads to greater marketing expenses. This is a vertical restraint.. directors. True Industrial Coatings Corporation has exclusive control over the market for its product. wants to prevent discount dealers that carry its products without providing warranty services from cutting into the business of full-service dealers. Lightning ATVs. including Macho Motors. Della sells her shares for a profit. Lightning imposes territorial restrictions on Macho to insulate other dealers from direct competition. Inc. and its officers... she had waited . which are distributed to authorized dealers. an officer for Energy Petrol Corporation (EPC). conditions the sale of its OfficeBooks product on Payroll Personnel Company's agreeing to buy QuikReVu. Della. buys 100 shares of EPC stock. The firms agree that CCE will sell its products only in North Dakota and DDC will sell its products only in South Dakota. and prices. Inc. False A vertical restraint is an agreement that restrains competition between firms operating at different levels of the market structure. Zippy Moto-Bikes. Under Section 16(b) of the Securities Exchange Act of 1934. effectively reducing competition and increasing profits. Nano Software. Inc. and Deal Direct Corporation (DDC) are the two leading discount electronics firms serving North and South Dakota. this is a violation if it acquired this power through "anticompetitive means. Nano's photo-editing product. depending on its purpose and the effect on competition. True Complete Circuit Electronics. Inc. Zippy's decision to restrict discount dealers to one type of market and full-service dealers to another is subject to evaluation under the rule of reason. One month later. and the price of EPC stock increases. and shareholders. Macho operates dealerships in several locations. Under the Sherman Act. Section 10(b) of the Securities Exchange Act of 1934 applies to the purchase or sale of any security." North Mining Company and South Excavation Company agree to abide by the decisions of East Coast Financial Corporation as to their respective levels of production. Della would not be liable if. (CCE).Fairway Products.
Willful violations of the Sarbanes-Oxley Act of 2002 may be subject to criminal prosecution. combines them with shares of the same stock that he or she already owns. False .more than six months to sell it. True "Pumping and dumping" occurs when a person buys shares. True Willful violations of the Securities Act of 1933 may be subject to criminal prosecution. and sells them all together.
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