Situations under which parents can be held liable for the actions of a child include which of the following? I. The child uses a parent’s gun to injure someone. II. The child is acting as an agent of the parent. A) I only B) II only C) both I and II D) neither I nor […]
Date: September 19th, 2020
A financial manager is considering two projects, A and B. A is expected to add $2 million to profits this year while B is expected to add $1 million to profits this year. Which of the following statements is MOST correct? A) The manager should select project A or he is irrational. B) The manager […]
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
Damages awarded for losses that can be determined or measured are A) special damages. B) general damages. C) punitive damages. D) comparative damages. ANSWER Answer: A
Date: September 19th, 2020
One tort reform permits manufacturers to assert that as long as the product conformed to the prevailing technology and production methods at the time it was produced, it cannot be considered a defective product today. This defense is called the A) collateral source rule. B) state of the art defense. C) strict liability defense. D) […]
Date: September 19th, 2020
Which of the following may give rise to imputed negligence? A) employer-employee relationships B) injury to a trespasser C) sole proprietorships D) attractive nuisance situations ANSWER Answer: A
Date: September 19th, 2020
Traditionally, federal state, and local governments could not be sued. This immunity had eroded over time. Today, government units may be liable for injuries arising out of money-making activities. Such activities are called A) municipal operations. B) proprietary functions. C) commercial ventures. D) pecuniary interest. ANSWER Answer: B
Date: September 19th, 2020
A common situation involving strict liability includes which of the following? A) operating a motor vehicle B) blasting operations C) manufacturing a product D) mining operations ANSWER Answer: B
Date: September 19th, 2020
A corporation needing cash sells securities to investors in the secondary market. Indicate whether the statement is true or false ANSWER FALSE
Date: September 19th, 2020
