Spring 2009 Exam 2

Spring 2009 Exam 2 - http/www.cbe.uidaho.edu/wegman/265...

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http://www.cbe.uidaho.edu/wegman/265%20Exams/265%20Spr%202009%20-2web.htm Business Law 265 Spring 2009 Exam #2, April 14, 2009 This exam contains 50 questions. Each question is 2 points. The exam and its answer key will be posted on www.cbe.uidaho.edu/wegman within one hour after the end of the exam. Go to Test Bank of Old Exams on the B. Law 265 section of that website. Refresh the page. If you disagree with the answer key, or you have a question or comment, please email Professor Wegman at [email protected] . You must include exam and the question number in the subject line of your email. Feed-back will be considered and may result in modification of the answer key, if received by 11:00 AM Wednesday. 1. Which type of damages usually has the greatest effect of deterring a breach of contract? a. compensatory damages b. liquidated damages c. mitigation of damages d. consequential damages 2. Damages that are agreed upon by the parties at the time the contract is entered into are known as: a. consequential damages b. compensatory damages c. liquidated damages d. mitigation of damages 3. Typically, the mitigation of damages rule might reduce the amount of damages that must be paid by the: a. plaintiff b. defendant c. either the plaintiff or the defendant d. neither the plaintiff nor the defendant 4. In the U.S., the role of judges is: a. to actively search for truth by questioning witnesses, directing proceedings and requesting certain evidence. b. essentially passive, like an umpire c. similar to the role of European judges. d. both (a) and (c) 5. Susan and Tom decided to arbitrate their dispute instead of litigating it. The arbitrator decided in favor of Tom, and issued an arbitration award of $300,000. Susan felt that the arbitrator had misapplied the law and that the amount of damages was excessive. a. Susan can appeal to the court of appeals on the basis of either the misapplication of the law or the amount of the award b. Susan can appeal to the court of appeal on the basis of the amount of the award but not on the basis of misapplication of the law http://www.cbe.uidaho.edu/wegman/265%20Exams/265%20Spr%202009%20-2web.htm (1 of 11) [7/9/2009 12:27:24 AM]
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http://www.cbe.uidaho.edu/wegman/265%20Exams/265%20Spr%202009%20-2web.htm c. Susan can appeal to the court of appeals on the basis of neither the misapplication of the law nor the amount of the award d. Susan can appeal to the court of appeals on the basis of misapplication of the law but not on the basis of the amount of the award 6. The U.S. Supreme Court does not have any discretion to decide whether it hears a case or not. a. True b. False 7. The tort of negligence consists of a tort-doer s failure to exercise: a. extreme care b. all possible care c. reasonable care d. some care under the circumstances 8. Susan intentionally and knowingly drove her car at 100 miles per hour on Highway 95. She was late for an important appointment. Because she was going so fast she could not avoid hitting Tom, although
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This note was uploaded on 07/29/2011 for the course ACCT 351B taught by Professor Inama during the Spring '11 term at Golden Gate.

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Spring 2009 Exam 2 - http/www.cbe.uidaho.edu/wegman/265...

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