Park University - MG 260 / MG260 FINAL EXAM

REVIEW
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mg-260-mg260-final-exam-review

MG 260 / MG260 FINAL EXAM REVIEW 1. Which one is a function of the

law a. Peacekeeping b. Promoting social justice c. Protecting the
environment d. All of the above are functions of the law 2. Mediation is
binding a. True b. False 3. Stare decisis states that like cases should be
decided alike a. True b. False 4. Caveat emptor means a. Let the vendor
beware b. Beware of freedom to contract c. Beware of lawyers d. Let the
buyer beware 5. Arbitration is binding, mediation is not a. True b. False 6.
The guidelines to ethical decision making recommend considering how
alternatives impact the following a. The decision maker only b. The
decision maker and his company c. The decision maker, his company, and
society as a whole d. The company of the decision maker only 7. Ethical
standards can come from the following sources a. Personal ethics b.
Professional standards for ethics c. Corporate codes of ethics d. All of the
above 8. In determining the ethics of an alternative, the theory would
encourage a decision maker to consider the benefit and cost to society as a
whole. a. Justice theory b. Rights theory c. Utilitarianism d. Profit
maximization 9. People are required to act ethically according to the law a.
True b. False 10. In determining the ethics of an alternative, the theory
would encourage a decision maker to consider the amount of net profit to
the company in the long term a. Justice theory b. Rights theory c.
Utilitarianism d. Profit maximization 11. Using , courts can declare the
actions or other government bodies unconstitutional. a. Eminent domain b.
Judicial review c. Separation of powers d. Federalism 12. According to the
principle of federal supremacy and the U.S. Constitution, federal law never
defeats conflicting state law a. True b. False 13. The protects freedom of
speech a. Takings clause b. Commerce clause c. First amendment d. 10th
amendment 14. The pleadings are a. The complaint, the answer, and the
reply b. Venue and jurisdiction c. Arbitration, mediation, and minitrials d.
The executive, judicial, and legislative branches 15. The power of a court to
hear and decide a case is a. Venue b. Jurisdiction c. Jurisprudence c. Tort
16. A counterclaim is filed by the a. Plaintif b. Defendant c. Appellant d.
Appellee 17. Which is not a type of misuse of legal proceedings a.
Malicious prosecution b. Private nuisance c. Wrongful use of civil
proceedings d. Abuse of process 18. A misdemeanor is a type of tort a.
True b. False 19. Which of the following is an intentional tort a. Trespass to
land b. A misdemeanor c. Strict liability d. Negligence 20. Which of the
 following is a defense to negligence a. Contributory negligence b.
Assumption of the risk c. Comparative negligence d. All of the above 21.
Without fault refers to a. Negligence b. Jurisprudence c. Strict liability d.
Intentional tort 22. Raspberry Ice Tea, a rap musician, is dangled by his
ankles four stories high until he agrees to sign a contract to share his
copyright royalties with rap musician Scotty Doggy Dog. This contract is an
example of a. Unilateral mistake b. Misrepresentation c. Duress d. Undue
influence 23. Contracts for the sale of land must be in writing according to
the Statute of Frauds a. True b. False 24. The transfer of a right under a
contract is a a. Delegation b. A novation c. An assignment d. Accord and
satisfaction 25. According to Casey, Julie owes her $50. Julie disagrees
with the amount and sends Casey a check for $35 marked “payment in
full”. If Casey cashes the check, she cannot recover the remaining $15
from Julie according to a. Quasi-contract b. Good Faith c. Promissory
estoppel d. Accord and satisfaction 26. Honesty in fact refers to a. Quasi-
truth b. Good Faith c. Quasi-contract d. Valid contract 27. The ability to
incur legal obligations and acquire legal rights is a. Disaffirmance b.
Emancipation c. Capacity d. Ratification 28. Contracts for the sale of goods
for $500 or more must be in writing according to the Statue of Frauds a.
True b. False 29. A poster advertising a reward for returning a lost dog is a.
An ofer b. An invitation to ofer c. An acceptance d. An invitation to
negotiate 30. A contract where all the parties have yet to perform their
contractual duties is best described as a. An unenforceable contract b. An
executory contract c. Implied contract d. Executed contract 31. Under the
mailbox rule, an authorized acceptance is efective even if it is not received.
a. True b. False 32. If a minor enters into a contract with an adult, the
contract is because the minor could get out of the contract but the adult
could not. a. voidable b. void c. valid d. unenforceable 33. Substantial
performance does not apply if the breach of contract was willful. a. True b.
False 34. The key concept of quasi-contract is a. Foreseeable reliance b.
Unjust enrichment c. Good faith d. Profit maximization 35. Cinderella
contracted with Griselda to paint her castle pink for $300. The day before
Griselda was to paint, Cinderella’s wicked stepmother destroyed the castle.
Griselda’s responsibility to paint the castle is discharged by a. Substantial
performance b. Material breach c. Impossibility d. Strict performance 36.
Consequential damages are also called special damages a. True b. False
37. In a breach the nonbreaching party can cancel the contract. a.
Nonmaterial b. Impossible c. Material d. Substantial 38. This contractual
theory of product liability applies when goods are not fit for their ordinary
purpose. a. Negligence b. Express warranty c. Implied warranty of
merchantability d. Implied warranty of fitness 39. This contractual theory of
product liability applies only when the seller is a merchant of the kind of
goods sold a. Strict liability b. Express warranty c. Implied warranty of
merchantability d. Implied warranty of fitness 40. Which is not a tort-based
form of product liability a. Negligence b. Implied warranty of fitness c. Strict
liability d. None of the above 41. An example of negligence in product
liability would be a. Negligent manufacture b. Express warranty c. Strict
liability d. Implied warranty of fitness 42. The principal is authorized to act
on behalf of the agent. a. True b. False 43. If an agent makes a contract on
behalf of an undisclosed principal, the agent could be liable on the contract.
a. True b. False 44. Employers could be liable for tors committed by
employees if the employees were acting within the scope of their
employment a. True b. False 45. Agents have a duty to follow orders even
if the orders require the agent to act illegally or unethically. a. True b. False
46. Implied authority is a type of apparent authorithy a. True b. False 47. a
principal can be liable on contracts made by an agent due to a. Actual
authority b. Apparent authority c. Ratification d. All of the above 48. Agents
are usually not liable for contracts made on behalf of a principal. a. True b.
False