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Exam 21: Appendix A: Using Technology to Manage Information

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Question 121

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A(n) __________ occurs when one party fails to follow the terms of a contract.

A) breach of contract
B) discharge of obligation
C) obligation failure of enforcement
D) infringement of contract

E) A) and C)
F) All of the above

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Question 122

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The warranty you receive in the box with a DVD player is an implied warranty.

A) True
B) False

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Question 123

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A trademark gives exclusive legal protection to a name,symbol,or design that distinguishes the goods or services of one seller from those of competitors.

Traditionally,taxes have been used as a source of funding for government operations and programs.

"Specific performance" means that a person who violates a contract is required to live up to the agreement even if money damages are adequate.

The Griggs v.Duke Power Company (1971) case established a precedent on the need to use job-related tests in employment practices.Similar court cases have been decided based on this decision.This is an example of:

Business law is enforceable by the courts.

We count on companies to provide us with safe products,and to provide us with full disclosure if they are using potentially harmful chemicals in the production and distribution of their products.Under _____________,if in a court of law it is proven that a well-known fast food chain is using a potentially harmful chemical in the preparation of their French fries,the company is likely to be required to disclose information on this process to its customers.

Tort law involves criminal acts where victims can be awarded compensation.

One of the benefits that deregulation is supposed to provide to customers is:

McDonald's was the subject of a product liability suit charging that its food caused obesity,diabetes,and other health problems in children.

"Exclusive dealing" means selling goods with the condition that the buyer will not buy goods from a competitor.

Concerns over the increase in the number of business laws and regulations that were costing the public money led to:

The language used in statutory law often requires interpretation by the courts.

In 2011,a popular British newspaper,"News of the World," owned by media mogul Rupert Murdoch (whose empire is headquartered in the U.S. ) was shut down due to accusations that the newspaper's journalists were illegally "phone hacking" in order to gather information for their stories.Due to the connection with a U.S.-based company,the U.S.District Attorney also opened an investigation.This type of investigation is handled under _____________.

Chapter 13 proceedings are more complicated than Chapter 7 bankruptcy proceedings.

When Sam and Marie got married they wanted to travel,buy nice houses and cars,and enjoy the good life.They used credit cards to finance their lifestyle,believing they would be fine as long as they could make the minimum payments.One day they discovered that because of rising interest rates,even the minimum payments were out of reach.They decided to declare Chapter 13 bankruptcy.Under this plan,they will have to pay their creditors back over 3 to 5 years.

Real property is real estate owned by individuals and businesses.

The intent of the Sherman Antitrust Act of 1890 was to encourage the growth of large business organizations in the U.S.in order to compete with more established firms in Europe.

An "interlocking directorate" occurs when a board of directors includes members of the board of competing corporations.