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Exam 21: Appendix A: Using Technology to Manage Information

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Question 31

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When a local restaurant offers a discount to senior citizens,they have violated the price discrimination provisions of the Robinson-Patman Act.

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Question 32

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The Clayton Act of 1914 prohibits price discrimination.

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Question 33

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Chapter 11 bankruptcy is a way for sick companies to recover and is designed to help both debtors and creditors find the best solution.

Administrative agencies are given the power by Congress to pass rules and regulations within a specific area of authority.

Under contract law,"damages" are the monetary settlements awarded to a person who is injured by a breach of contract.

Which of the following describes the requirement that both parties in a legally binding contract must give something of value?

________ is the legal process by which a person,business,or government entity unable to meet financial obligations is relieved of those debts.

Administrative agencies actually have a greater impact on businesses than courts do.

Mary Ann owns a rare Monet painting and she has agreed to a contract whereby she will sell it to the Museum of Art for $5.3 million.At the last minute she decides she cannot bear to part with her painting and will not sell it to the Museum.The Museum can sue Mary Ann for specific performance.

You agree to sell your car to your neighbor for $5,000.You and your neighbor have provided each other:

An intentional tort is a willful act that results in injury.

The remedy for a tort is:

The Justice Department's lawsuit against Microsoft is an example of an antitrust case.

The Federal Trade Commission enforces laws and guidelines regarding unfair business practices.

When a person's or company's behavior causes unintentional harm or injury to others they are said to be __________ in tort law.

Trial courts hear cases involving criminal and civil law.

Copyrights can be passed on to the creator's heirs.

Explain the difference between statutory law,common law,and business law.

Which of the following industries has been deregulated?

Congratulations! You've just finished composing a song that will be the next big hit.Your next step is to apply for a patent through the U.S.Patent & Trademark Office.