Arguments in favor of reforming the civil justice system include which of the following? I. There is often a long delay in settling lawsuits. II. Compensation awards have decreased significantly over the past two decades. A) I only B) II only C) both I and II D) neither I nor II ANSWER Answer: […]
Date: September 19th, 2020
Part of the U.S. Government’s huge deficit is financed by foreign countries, such as China, which is a savings surplus unit. Indicate whether the statement is true or false ANSWER TRUE
Date: September 19th, 2020
All of the following are proposed solutions to the medical malpractice problem EXCEPT A) shortening the statute of limitations for filing lawsuits. B) eliminating arbitration panels to resolve disputes. C) placing limitations on contingent fees charged by attorneys. D) placing limitations on damage awards. ANSWER Answer: B
Date: September 19th, 2020
The goal of the firm should be A) maximization of sales. B) maximization of market share. C) maximization of shareholder wealth. D) maximization of profits (net income per share). ANSWER C
Date: September 19th, 2020
James was injured in an auto accident caused by another motorist’s negligence. To reimburse him for his hospital bills and lost earnings, items which can be specifically itemized, James will receive A) punitive damages. B) special damages. C) imputed damages. D) general damages. ANSWER Answer: B
Date: September 19th, 2020
Michelle had major abdominal surgery. Months after the surgery, she still did not feel well. When she was operated on again, the surgeon discovered two sponges that were not removed at the conclusion of the first operation. Michelle should be able to collect damages without having to prove negligence under the doctrine of A) joint […]
Date: September 19th, 2020
Francis opened a store. She knows that customers who come to the store may be injured on the premises and hold her responsible for their injuries. Under common law, business customers in the store Francis opened are considered A) aliens. B) licensees. C) trespassers. D) invitees. ANSWER Answer: D
Date: September 19th, 2020
Venture capitalists typically provide funds to high-risk startup companies but take no active role in their management. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
Which of the following statements about monetary damages awarded by a court is (are) true? I. The purpose of general damages is to provide benefits for medical expenses or loss of earnings. II. The purpose of punitive damages is to punish the tortfeasor so that others are deterred from committing the same wrongful act. A) […]
Date: September 19th, 2020
Under one doctrine, a person who understands the danger inherent in an activity cannot recover damages in the event of injury from the activity. This doctrine is called the A) contributory negligence doctrine. B) assumption of risk doctrine. C) comparative negligence doctrine. D) fellow servant doctrine. ANSWER Answer: B
Date: September 19th, 2020
