QUESTION The bundle of legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource are called what type of rights? A. Civil B. Political C. Shareholder D. Property E. Public ANSWER D Property rights refer to the legal […]
Date: September 3rd, 2020
QUESTION Silver Tape Corporation has developed a new type of adhesive tape. Which of the following types of legal protections can grant the company exclusive rights for a defined period to the manufacture, use, or sale of the new adhesive tape? A. Warrant B. Patent C. Copyright D. Trademark E. Writ ANSWER B A […]
Date: September 3rd, 2020
QUESTION In the context of property rights, which of the following refers to theft, piracy, blackmail, and the like by private individuals or groups? A. Private consumption B. Private practice C. Privacy tort D. Private action E. Privacy violation ANSWER D Private action refers to theft, piracy, blackmail, and the like by private individuals […]
Date: September 3rd, 2020
QUESTION Which of the following establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations? A. Contracts for the International Sale of Goods B. Bill of Exchange C. United Nations Charter D. International Forwarding […]
Date: September 3rd, 2020
QUESTION After the collapse of communism in Dehran, successful business owners often had to pay “protection money” to the mafia or face violent retribution. In the context of property rights, the behavior of the mafia is an example of: A. active violation. B. public action. C. private action. D. boundary spanning. E. industrial espionage. […]
Date: September 3rd, 2020
QUESTION In the context of property rights, which of the following best exemplifies private action? A. Levying excessive taxes B. Requiring expensive licenses or state permits from private property holders C. Taking assets into state ownership without compensating the owners D. Government bureaucrats demanding bribes from businesses in return for the rights to operate in […]
Date: September 3rd, 2020
QUESTION Which of the following best exemplifies public action? A. The mafia in Cedia Republic demands “protection money” from successful domestic business owners. B. Cedian proprietors in the hospitality industry often complain about protection rackets by criminal groups. C. Government bureaucrats demand bribes from international businesses in return for the rights to operate in Cedia […]
Date: September 3rd, 2020
QUESTION In the context of common law, which of the following terms refers to the ways in which laws are applied in specific situations? A. Tradition B. Precedent C. Custom D. Interpretation E. Culture ANSWER C Common law is based on tradition, precedent, and custom, where custom refers to the ways in which laws […]
Date: September 3rd, 2020
QUESTION Which of the following is a law system based on a detailed set of laws organized into codes? A. Civil B. Theocratic C. Common D. Traditional E. Precedent ANSWER A A civil law system is based on a detailed set of laws organized into codes.
Date: September 3rd, 2020
QUESTION A legal system which is based primarily on religious teachings is referred to as a: A. civil law system. B. theocratic law system. C. common law system. D. precedent law system. E. public law system. ANSWER B A legal system that is based primarily on religious teachings is referred to as a theocratic […]
Date: September 3rd, 2020
