IBp7Exam1 - Exam#1 Chapters 1 9 52 Spring 2007 Page 1 of 7...

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Exam #1: Chapters 1 – 9 & 52 Spring 2007 Page 1 of 7 LAWS 3910-002 & -003 Introduction to Business Law & Ethics O'Hara © 2007c ___________________________________ print name on the line above as your signature INSTRUCTIONS: 1. This Exam #1 must be completed within the allocated time ( i.e., 60 minutes ). It is a closed book exam. 2. Recall the material difference between e.g. ( for example ) versus i.e. ( that is ). 3. As each student finishes this exam, that student shall return both the student's exam and the answer sheet and then leave the exam room until after the end of the exam ( e.g., all students finish in less than 60 minutes ). 4. Grades will be posted to BlackBoard no later than 5:00 PM Friday, February 9. An email notice of the posting will be sent. 5. This Exam #1 is worth 20% of the course grade. The True-False form of this exam has 35 questions graded as if there are 33. Harmless errors are far more likely than non-harmless errors in this test design. Based on a statistical analysis of all students' answers, the instructor unilaterally may alter the grading of specific exam questions. Any student may appeal the grading of these exam questions. However, only if a student successfully appeals the ambiguity of AT LEAST THREE questions on this exam will that student's exam grade change by the number of successful appeals in excess of two questions. Appeals only affect the exam grades of those students that appeal. 6. All appeals of this exam’s questions must be: [6A] typed; [6B] signed by the student in three ways, typed name, handwritten signature, and typed university identification number; [6C] in sequence, list, immediately following the signature, each of the questions, by number , being appealed; [6D] after the [6C] list, argue each question, one at a time; [6E] at the beginning of each question’s [6D] appeal, identify two or more reasonable meanings that the question could have had; [6F] argue why one or more of the [6E] identified reasonable meanings is as appropriate or is more appropriate than the meaning used for the answer key answer ; and [6G] personally handed to the instructor no later than the start of class on Tuesday, February 20.
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Exam #1: Chapters 1 – 9 & 52 Spring 2007 Page 2 of 7 LAWS 3910-002 & -003 Introduction to Business Law & Ethics O'Hara © 2007c QUESTIONS: 1. T F USA law allocates liability towards actions that are both knowing and voluntary ( e.g., assumption of the risk defense in tort ). Also, USA law favors the objective over the subjective. Knowing comes in three forms: actual knowledge ( subjective [i.e., scienter] ), receipt of notice ( objective ), and reason to know ( objective ). 2. T F Objective can be express ( i.e., words: oral or written ) or can be implied ( i.e., acts, words, and/or circumstances ). 3. T F Broadly, the law is divided into the fields of equity and of law.
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