mtguide - BA141A Business Law Fall 2008 Midterm Study Guide...

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BA141A Business Law Fall 2008 Midterm Study Guide True/False Questions 1. Hasbro, Inc., the trademark owner of “Candy Land,” sought a court injunction to prevent Internet Entertainment Group, LTD from using the domain name, “candyland.com.” A jury will decide whether Hasbro is entitled to this equitable remedy. 2. While at the park, Tasha saw a small child fall into the lake. Tasha did not know the child. Under the common law of most states, Tasha has a legal duty to take reasonable steps to assist the child if Tasha is able to provide positive assistance and the assistance will not jeopardize Tasha's well being. 3. Generally, administrative agencies do not make the rules they enforce. 4. By creating three independent branches of the federal government, the U.S. Constitution limited the federal government power. 5. Governments can place no restrictions on the exercise of free speech. 6. The “takings clause” prevents the government from taking private property for any reason. 7. The ethics checklist provided in the textbook serves two purposes: it helps clarify the issues and it produces the one correct answer to an ethical dilemma. 8. Wever, Inc. is considering relocating a facility to Mexico. The interests of the various stakeholders affected by this decision may conflict 9. Summary judgment is appropriate when there are no essential facts in dispute. 10. Prior to any battery, an assault (even if only momentarily) must have occurred. 11. A sales clerk at Braybon’s Department Store observed a customer remove a ring from a display case and put it in her purse. In most states, Braybon’s will be able to detain the customer for suspicion of shoplifting. 12. Most states recognize some form of comparative negligence. 13. Entrapment can be a defense to a criminal act. 14. One purpose of contract law is to make business matters more predictable.
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15. A valid contract can legally be voided by either party. 16. When promissory estoppel is used by the courts, it is because there is NOT an enforceable contract present. 17. When Olga asks Sven if he wishes to sell his Harley motorcycle, he replies that he would not sell it "for less than $2,000." Olga replies, " I accept," and hands him $2,000. A contract exists. 18. Revocation is the withdrawal of an offer by the offeror. 19. Vern Valve Company makes valves for plumbing fixtures. At the beginning of the year, it sends out a price list addressing each one, "To our valued customers." Honest Hank Hardware orders a variety of valves at the prices quoted on the price list. Vern Valve must sell the valves to Honest Hank for the prices quoted on the list. 20. Under the common law, the mirror image rule permitted the offeree's acceptance of a contract to vary to some degree from the offeror's offer. 21. Assume that Ben and Perry sign an agreement in which Ben agrees to sell Perry 2,000 gallons of ice cream. If both parties neglect to include a price term in the contract, the contract cannot be enforced.
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