Final EXAM T BGEN 218 A Sp 21 Introduction To Business Law PDF

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6/11/2021

FINAL EXAM: T BGEN 218 A Sp 21: Introduction To Business Law

FINAL EXAM Due No due date

Points 131

Questions 47

Available Jun 7 at 6am - Jun 9 at 11:59pm 3 days

Time Limit 120 Minutes

This quiz was locked Jun 9 at 11:59pm.

Attempt History LATEST

Attempt

Time

Score

Attempt 1

111 minutes

118 out of 131

Score for this quiz: 118 out of 131 Submitted Jun 8 at 9:51pm This attempt took 111 minutes.

Question 1

5 / 5 pts

Intelligently describe why this class is important specifically to business students in their collective education. Demonstrate an understanding of this class in your answer. Your Answer: This class is important to business students in their collective education because the law is a fundamental part of business whether you will be working for a business after your education or working on your own business after your education. For students looking to start their own business, it is especially important to know about business law because this class teaches you about the 6 different entities and how they operate. As a student that will be working for a business, it is also just as important because they can help the company they are working for by anticipating the legal needs of their company. Also, a business student that knows more about law over one that doesn't will be more valuable to employers. Businesses face many legal and regulatory challenges throughout their life cycles so it will be very important to know about the law while working within that business to help the business through those challenges https://canvas.uw.edu/courses/1462639/quizzes/1460068

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Question 2

2 / 2 pts

Name two material differences between an 'C' Corporation and a 'S' Corporation. Your Answer: The C corporation is the standard corporation, while the S corporation has elected a special tax status with the IRS. C corporations can have an unlimited number of shareholders, while S corporations are restricted to no more than 100 shareholders

Question 3

3 / 3 pts

Define three ways that a court case can end up in the US Supreme Court. Your Answer: 1. Appeal from a federal circuit court 2. Appeal from a state supreme court 3. Through the Court's original jurisdiction

Question 4

1 / 1 pts

Voir dire is the process whereby the jurors ask prospective judges questions to determine whether they would be biased in their decisions. True or false

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FINAL EXAM: T BGEN 218 A Sp 21: Introduction To Business Law

False

Question 5

1 / 1 pts

The statute of limitations establishes the period within which a ________.

Correct!

plaintiff must file a lawsuit against a defendant

Question 6

1 / 1 pts

Which of the following is a form of alternative dispute resolution?

Correct!

Mediation

Question 7

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4 / 8 pts

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What are the four (4) steps involved in the pretrial litigation process and basically define each. Your Answer: To begin the civil trial process, persons are required to file a lawsuit with the court of competent jurisdiction. Jurisdiction is decided by deciding whether the court that receives the petition has jurisdiction over a defendant and whether the property involved in a case is within the jurisdiction in question. This gives the courts no option to file a complaint in the wrong jurisdiction, but to refuse to rule or even hear the case until it is filed in the appropriate jurisdiction. A lawyer for the plaintiff, normally an attorney, must file the case in the appropriate jurisdiction, along with a motion in limine seeking admission of evidence to back up the statements of the complainant

Question 8

2 / 2 pts

What is a tax lien sale and how does that work? Your Answer: Tax lien sale is a method many states use to force an owner to pay unpaid taxes. When a landowner or homeowner fails to pay the taxes on their property, the city or county in which the property is located has the authority to place a lien on the property. The lien acts as a legal claim against the property for the unpaid amount that's owed. Property with a lien attached to it cannot be sold or refinanced until the taxes are paid and the lien is removed

Question 9

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2 / 2 pts

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Give two examples of the use of undue influence in the creation of a contract Your Answer: 1. Important family members are not present in the will 2. Caregivers receive the most in the will

Question 10

9 / 9 pts

Define the following business forms in terms of formation, taxation and liability:

Sole Proprietorship:

Limited Partnership:

Limited Liability Company: Your Answer: Sole Proprietorship: - formation: informal - taxation: pass-thru - liability: the owner is personally liable for any debts or obligations of the business Limited Partnership: - formation: formal - taxation: pass-thru https://canvas.uw.edu/courses/1462639/quizzes/1460068

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- liability: general partners have unlimited liability for debts and obligations of the partnership whereas limited partners are liable only up to their capital contributions Limited Liability Company: - formation: formal - taxation: pass-Thru - liability: owners are not personally liable for the company's debts or liabilities

Question 11

1 / 1 pts

Why have checks and balances been built into the U.S. Constitution?

Correct! to prevent any one of the three branches of government from becoming too powerful

Question 12

0 / 1 pts

Mary Rose buys a new toaster for $500. The toaster's label bears a disclaimer stating that the manufacturer is liable for consequential https://canvas.uw.edu/courses/1462639/quizzes/1460068

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damages. One morning while Mary Rose is using the toaster, it emits sparks and damages the electrical wiring in the kitchen. The electrician tells Mary Rose that the toaster malfunctioned and that the cost of repairs in her kitchen would amount to $2,000. What total amount of monetary damages can Mary Rose likely recover from the manufacturer of the toaster?

orrect Answer

$2500

ou Answered

$2000

Question 13

1 / 1 pts

In terms of the infancy doctrine, which of the following is true?

Correct!

a minor can disaffirm a contract he or she entered into with an adult

Question 14 https://canvas.uw.edu/courses/1462639/quizzes/1460068

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Why is the Commerce Clause such a powerful component of the U.S. Constitution? Your Answer: Commerce Clause prevents states from establishing laws and regulations that would interfere with trade and commerce among the states, the Constitution expressly delegated to the national government the power to regulate interstate commerce

Question 15

3 / 6 pts

Dissect the following paragraph and identify the six legal issues involved (6pts)

Dakota took his cousins Ray-Ban sunglasses, systematically took them apart and then with his own elements built a virtually identical pair of these sunglasses and named them Bay-Ran sunglasses and put them on eBay where he listed them for $.99 without a reserve but he knew they would likely sell for $400. Vanessa (who is Dyslexic) bid on the sunglasses and won the auction for $.99. Dakota was mad as hell and refused to deliver the sunglasses and put them up again this time for $400 and surprisingly, Melinda who is 5, clicked on her the auction and was able to make a bid. Vanessa brings legal action against Dakota for the delivery of the glasses and Melinda’s father tries to cancel the contract. Your Answer: 1. Copyright 2. Patent 3. Trademark 4. Consumer protection law

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Question 16

3 / 3 pts

Name three things that must be included in a complaint (3) Your Answer: To file a complaint, the complaint must name the parties to the lawsuit, alleges the ultimate facts and law violated, and contains a prayer for relief

Question 17

1 / 1 pts

Using whatever tools you can create an identifiable image in this box Your Answer: ( -´)>

Question 18

1 / 1 pts

Nadia and Chantelle own a condominium in Fife, WA. Chantelle suffers a tragic and fatal surfing accident and dies. Nadia, upon Chantelle's death, has full ownership of the condo. What type of concurrent ownership did they have? Your Answer: Joint tenancy ownership

Question 19 https://canvas.uw.edu/courses/1462639/quizzes/1460068

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FINAL EXAM: T BGEN 218 A Sp 21: Introduction To Business Law

A contract entered into by an exchange of promises is called a

Correct!

bilateral contract

Question 20

8 / 11 pts

On a cold December night Hunter was waiting in line to get into the Bloody Inferno Nightclub and Bar when he slipped on the ice and fell breaking his leg, just as Huy one of the owners was walking out to spread salt on the ice buildup. Madeline who was celebrating her 17th birthday at the Bloody Inferno where Nalien and 11 additional employees work. Huy owned his nightclub and bar with Juan in Bloody Inferno, LLC in addition to operating a bar, they also sold real estate out of their establishment and on this night, Juan was able to sell two high end condos under contract to Madeline and another to Subhleen who was celebrating her 21st birthday in classic whiskey style (7 shots). While dancing in the club, Daniel and his twin brother Kyle, were pushed by the crowd after DJ Awen came on to the stage creating chaos and as a result of the pushing, Daniel fell to the ground striking his head on the corner of the table, cracking his head open with blood spurting everywhere leading to his death, Kyle could not help his brother and simply watched the gruesome act unfold. The next morning Huy was served with a lawsuit in Federal District Court by Kyle for the injuries he sustained and the death of his brother, the pleadings named Huy, Juan and Juan’s wife as the defendants. At the same time, Juan’s 12 yo daughter was served with three lawsuits one from Madeline terminating the contract and another from Nalien claiming that she was threatened that she would get beaten up if she didn't support Huy and a lawsuit from Hunter relative to the broken leg. When things couldn’t get

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much worse, Subhleen calls asking what the hell this unsigned contract for the purchase of a condo is. The following fantastical story contains at least 11 legal issues, please identify them (11 pts) Your Answer: 1. Underage drinking 2. Assault 3. Personal injury 4. Real estate law 5. Liabilities 6. Signing contracts not in the right state of mind (because alcohol was involved) 7. Negligent infliction of emotional distress 8. Harassment

Question 21

1 / 1 pts

What is the name of your favorite song? Your Answer: WAP

Question 22

6 / 6 pts

List and describe three types of discovery processes (6pts)

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Your Answer: Interrogatories - written questions to the other party and require that they be answered in writing under oath Document production - any party has a right to see most documents that even arguably relate to a case Depositions - sworn statements, when a person will answer questions from an attorney, and a court reporter will make a transcript of all that is said

Question 23

6 / 6 pts

Distinguish between protected, limited protected speech and unprotected speech, as defined by the U.S. Supreme Court (6pts) Your Answer: As defined by the U.S. Supreme Court, restricted protected speech means that the government can not ban this type of speech, but may subject this speech to limitations on time, location and manner. Once a type of unprotected speech, commercial speech has been added to the category of restricted protected speech. Commercial speech material is subject to limitations in terms of time, location, and manner. Unprotected speech is an expression that the government will absolutely forbid. In fact, someone may be charged with a criminal offense for not adhering to those directors

Question 24

1 / 1 pts

How long does an individual copyright survive?

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FINAL EXAM: T BGEN 218 A Sp 21: Introduction To Business Law

The lifetime plus 70 years of the person filing

Question 25

1 / 1 pts

What is Res Ipsa Loquitor? Your Answer: The res ipsa loquitur definition asserts that negligence can be presumed without proof. This is because there could be no other alternative explanation but negligence on the part of the defendant. In other words, while there is no direct proof of negligence, the injuries sustained by the victim cannot be explained by anything else except for negligence

Question 26

2 / 2 pts

Give an example of Negligent Infliction of Emotional Distress. (2pts) Your Answer: A woman arrives at the scene of a drunk driving accident and witnesses the final breaths of her dying spouse

Question 27

1 / 1 pts

Professor Donion has a crush on which popular music star? https://canvas.uw.edu/courses/1462639/quizzes/1460068

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FINAL EXAM: T BGEN 218 A Sp 21: Introduction To Business Law

Your Answer: Cardi B

Question 28

6 / 6 pts

What are the requirements for obtaining a patent and define each requirement (6pts)? a)

b)

c) Your Answer: A patent has to be 1) novel - it has to be new and hasn't been created or used in the past. 2) useful - it has some practical benefits to society. 3) Nonobvious - if it's obvious then it can't qualify for a patent.

Question 29

1 / 1 pts

An award of ________ orders the breaching party to perform the acts promised in a contract.

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Correct!

specific performance

Question 30

1 / 1 pts

The information protected from disclosure by the attorney-client privilege, is recognized by which Amendment to the Constitution

Correct!

Fifth

Question 31

8 / 8 pts

Define AND Explain the basic requirements that must be met for a contract to be enforceable (8pts).

a)

b)

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c)

d) Your Answer: For a contract to be enforceable you must meet the requirements of the 4 elements of a contract: 1. Agreement - There must be an agreement between the parties. An offer presented by an offeror and an acceptance of the offer by the offeree 2. Consideration - Something legal that both parties get, like money 3. Contractual Capacity - The necessary capacity of parties to enter into the contract meaning that you have to have a sound mind when offering or accepting a contract 4. Lawful Object - The object has to be lawful, can't be something like cocaine

Question 32

3 / 3 pts

What are three examples of things that can be copyrighted? (3pts) Your Answer: 1. Songs 2. Architecture drawings 3. Motion pictures

Question 33

5 / 5 pts

What are the five requirements of adverse possession?

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Your Answer: 1. For a statutorily prescribed time period - The required period of time that a person must wrongfully possess another party's real property to gain title to that property, between 7 and 20 years in most states 2. Open, visible, and notorious - The possessor is visibly occupying the property and everyone can see that 3. Actual and exclusive - the possessor physically occupies the property and does stuff like planting crops 4. Continuous and peaceful - the possessor has to have occupied the property continuously without interruption for the required statutory period 5. Hostile and adverse - the possessor has occupied the property without the implied or express permission of the owner

Question 34

1 / 1 pts

Name one word or term that you learned about that you had not heard of until taking this class. Your Answer: Plaintiff

Question 35

2 / 2 pts

Name two ways that you can obtain federal jurisdiction? (this is not the same as getting to the US Supreme Court) Your Answer: Diversity jurisdiction and federal question jurisdiction

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Question 36

1 / 1 pts

Give me an example of a trademark Your Answer: The golden arches of McDonald's

Question 37

0 / 2 pts

What is an example of an 'exclusive remedy' Your Answer: Performance damages payable for a shortfall in a power station's output

Question 38

2 / 2 pts

What is the function of the bylaws in a corporate structure? Specifically identify two requirements outlined in the bylaws. Your Answer: The purpose of bylaws for corporations is to establish the company's management structure, procedures, and dispute resolution processes. Bylaws should include the corporation's identifying information and the number and type of shares and stock classes that the c...