Question 1 of 20 5.0 Points
In pre-trial discovery, if a business does not produce incriminating e-mails the court can instruct the jury that it can make negative inferences from the lost documents.

A. True

B. False
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Question 2 of 20 5.0 Points
Indirect non-legal costs are at least twice as high as direct legal costs.

A. True

B. False
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Question 3 of 20 5.0 Points
All of the following are ways to lower business risk except:

A. stick to company business

B. always be respectful, courteous and constructive

C. keep matters confidential

D. take shortcuts to increase profits
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Question 4 of 20 5.0 Points
Issuing a public apology for corporate wrongdoing will always result in increased litigation.

A. True

B. False
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Question 5 of 20 5.0 Points
When answering a complaint the defendant can do all of the following except:

A. deny the allegations set forth in the complaint

B. list defenses

C. admit to the allegations set forth in the complaint

D. defer answering for 180 days
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Question 6 of 20 5.0 Points
All of the following are methods of alternative dispute resolution except for:

A. mediation

B. litigation

C. arbitration

D. settlement
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Question 7 of 20 5.0 Points
The monetary damage award set out by the court is the amount the prevailing party is guaranteed to receive from the losing party.

A. True

B. False
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Question 8 of 20 5.0 Points
Examples of antitrust activities include all of the following except for:

A. price fixing

B. allocation of markets

C. standardization among trade association members

D. concerted refusal to deal
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Question 9 of 20 5.0 Points
The grant of a patent is a limited “monopoly” and can run counter to the antitrust principle encouraging free and open markets.

A. True

B. False
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Question 10 of 20 5.0 Points
All of the following are a type of contract except:

A. Express

B. Implied

C. Enduring

D. Unilateral
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Question 11 of 20 5.0 Points
Which of the following is not a form of business organization?

A. Limited Liability Corporation

B. Partnership

C. Sole Proprietorship

D. Corporation
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Question 12 of 20 5.0 Points
Identify the correct statement about liability in business organizations

A. A partner is not responsible for the debts of the partnership.

B. A sole proprietor is personally liable for all debts of the business.

C. A shareholder is responsible for the debts of the corporation.

D. A member is personally liable for the debts of the LLC.
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Question 13 of 20 5.0 Points
The revenue from a Chapter C corporations is taxed twice.

A. True

B. False
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Question 14 of 20 5.0 Points
The test for mental capacity to enter into a contract is whether the person has reached the age of majority

A. True

B. False
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Question 15 of 20 5.0 Points
A partnership must prepare an income tax return but the partnership pays no income taxes itself.

A. True

B. False
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Question 16 of 20 10.0 Points
Describe three differences between a limited liability company and a corporation. Cite your sources.

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Question 17 of 20 10.0 Points
List and provide examples for five defenses to a breach of contract claim. Cite your sources.

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Question 18 of 20 10.0 Points
List three types of contracts that must be in writing in order to be enforceable. What doctrine applies here? Cite your sources

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Question 19 of 20 10.0 Points
Jim wants to sell his car to Marsha. Describe what elements would need to be present in order to have a valid contract. Would this contract fall under the UCC? Why or why not?

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Question 20 of 20 10.0 Points
List at least three factors that weigh in favor of patents. List three factors that weigh in favor of trade secrets. Cite your sources.