Q1. The——————— requires that government statues , regulations, and not overly broad in scope .
- Procedural due process
- Substantive due process
- Intermediate scrutiny test
- Rational scrutiny test
Q2. A closely guarded formula for a recipe protected by a soft drink manufacturer would be considered an example of a :
- Trade secret
Q3. Harrison hires an agent to look for a three-bedroom house in Atlanta. Elaine, the agent , finds a three – bedroom house within Harrison’s budget , but buys it herself without informing Harrison. This is an instance of the agent’s :
- self dealing
- conflict of interest with the principal
- competing with the principal
- Usurping an opportunity
Q4. Michael opens an online store where people from all over the world can purchase and download i Phone apps . Which of the following should Michael consult to know the rules of trading through his online store ?
- common law of contracts
- Objective law of contracts
Q5. Which of the following is the true of a union shop agreement while hiring an employee ?
- The employee must join the union within a certain time after employment
- The employee does not join the union but pays an agency fee.
- The employee must be a skilled worker represented by more than one union .
- The employee must be represented by more than one union .
Q6. Which of the following is true of an LLC ?
- An LLC is governed by federal law .
- An LLC is regarded as a separate legal entity .
- An LLC cannot hold title to property .
- An LLC owners are called specific partners .
Q7. ————– are federal agencies that have broad regulatory powers over key areas of the national economy .
- Independent federal administrative agencies
- State administrative agencies
- Law enforcement agencies
- cabinet level federal departments
Q8. Which of the following federal administrative agencies enacts the Clean Water Act?
- The Environmental Investigation Agency
- The Environmental Protection Agency
- The Ministry of Environmental Protection
- The Association of Environmental Professionals
Q9. A transaction in which an owner transfers his or her personal property to another to be held , stored , or delivered is known as a(n) :
Q10. Which of the following replaced the General Agreement on Tariffs and Trade (GATT) ?
- World Bank
- World Trade Organization
- c) International Monetary Fund
- d) North American Free Trade Commission