QUESTION Which of the following correctly describes the specific performance type of remedy to a breach of contract? A) I have the right to decide that no further action is necessary. B) I have the right to insist the other party go ahead with his or her part of the agreement. C) The other party […]
Date: September 3rd, 2020
QUESTION Robin and Chris have divorced and each wants full custody of their son. What legal options are open to them at this point? What will be an ideal response? ANSWER Answer: Robin and Chris have three options. (1) They could go to mediation, in which a neutral third party listens to both sides […]
Date: September 3rd, 2020
QUESTION The Freedom Philharmonic Orchestra was scheduled to play a concert at a riverside pavilion. But the conductor of the orchestra got into an argument with the pavilion’s director over hours available for rehearsal, and the conductor said the orchestra would not go through with the concert. The pavilion’s director got a court to compel […]
Date: September 3rd, 2020
QUESTION Rolando had a written contract that he was to perform a poetry reading at a local bookstore for $300, but the bookstore made a mistake and double-booked: It had a second poet at the store at the same time. So Rolando was unable to do his reading. The bookstore said it owed Rolando nothing […]
Date: September 3rd, 2020
QUESTION Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: Deregulation is the scaling back, or relaxation in enforcement, of laws and administrative rules that seemed to restrain competition.
Date: September 3rd, 2020
QUESTION The Federal Communications Commission regulates the airwaves. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The FCC regulates radio and TV communication.
Date: September 3rd, 2020
QUESTION The Securities and Exchange Commission regulates stock and bond markets. Indicate whether the statement is true or false. ANSWER Answer: TRUE Explanation: The SEC regulates trading in stocks and bonds so that fair and transparent standards are applied.
Date: September 3rd, 2020
QUESTION What is the definition of statutory laws? A) laws governing international business activities B) laws governing domestic business activities C) written laws created by legislative bodies D) unwritten laws made by judges ruling on individual cases E) laws made by government boards, commissions, and agencies ANSWER Answer: C Explanation: C) Statutory laws are […]
Date: September 3rd, 2020
QUESTION The Gramm-Leach-Bliley Act placed extensive new regulations on the banking industry. Indicate whether the statement is true or false.c ANSWER Answer: FALSE Explanation: The Gramm-Leach-Bliley Act deregulated the banking industry.
Date: September 3rd, 2020
QUESTION The decisions judges made in past court cases in similar areas, which become guides to handling new cases, are called what? A) statutes B) regulatory laws C) treaties D) trade agreements E) precedents ANSWER Answer: E Explanation: E) Precedents are the decisions judges made in past court cases in similar areas, which become […]
Date: September 3rd, 2020
