Questions and Answers of Legal Environment Of Business

Why is cyber crime difficult to detect and to prosecute successfully?
Beth was killed when a trench collapsed. An investigation revealed that the trench was 27 feet deep and without adequate shoring, in violation of safety standards. Bob, the president of the firm, is
Susan, a partner in a CPA firm, prepares a federal income tax return knowing that it contains false information. Because the client wants the return prepared in this manner, Susan obtains the
A pharmaceutical company tried to boost its sales by encouraging doctors to use its new drug, LDL Control, to treat high cholesterol. An important part of their sales pitch included paying for lavish
Describe three trends in criminal law that affect business organizations and businesspeople.
Relative to other factors discussed in this chapter, how important is the factor of creation?
Why should business owners take time to discuss the control each will exert over the organization’s activities?
Terry is the senior partner in an accounting firm. One of Terry’s partners performs an audit. The audited firm sues Terry, as the senior partner, for alleged errors in the audit. If Terry is found
Your neighbor has an idea for a faster food delivery service in your town. She is considering organizing her prospective business as a non-profit to avoid taxes. Briefly explain to your neighbor the
Describe the four possible functions of an administrative agency.
Why has the complaint against excessive government been consistent throughout the years?
The members of a real estate brokers’ multiple listing service voted to raise their commission rate from 6 percent to 7 percent. The bylaws of the association provided for expulsion of any member
Assume that all manufacturers of computer chips entered into an agreement whereby each agreed to exchange information as to the most recent price charged or quoted to a consumer. Is this agreement a
In response to public pressure, all of the manufacturers of chewing tobacco agree not to advertise on radio or television. The resulting savings are used to reduce the price of the product to
The operators of adult bookstores got together and each agreed to contribute $1,000 to a fund for use in lobbying the city council to repeal an ordinance which made the sale of sexually explicit
The government challenged the acquisition by Procter & Gamble (P&G) of Clorox. Clorox was the leading manufacturer of liquid bleach at the time of the acquisition, accounting for 48 percent
In some cases, U.S. antitrust authorities have approved mergers that were rejected by European antitrust authorities. How might such inconsistencies create problems for multinational corporations and
Who are the four types of parties governed by the 1933 Securities Act?
Why is it important for businesspeople to understand the role of state blue sky laws in addition to federal securities regulations?
In what three ways did the Sarbanes—Oxley Act strengthen the enforcement of securities fraud?
Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010What event led to Congress creating new financial regulations?
Why Nations Are Economically Weak or Strong(a) Identify several reasons put forth to explain why nations are prosperous or poor.(b) What does this section say is the foundation of the private market
As the vice president of finance for a company producing and selling electronic switchboards, you are considering foreign investment to build a plant to assemble electronic components. A source in
Three years ago, the Darden Corporation bought a thousand acres of land that borders the Potowac River in Washam County. While waiting on development opportunities, Darden cut timber to help repay
What new challenges are brought through advances in technology?
In addition to the five questions listed in the text, can you think of questions to ask yourself to help explore your ethical mindset before making a business (or personal) decision?
Why are formal legal rules alone not an adequate ethical system for business?
Why have several states eliminated the requirement of unanimity in jury trials?
Name the three critical roles a lawyer serves in society. Why have many lawyers and their business clients had such conflict in recent years?
Patricia Dianne Hickman inherited one-half interests to two pieces of real property when her mother died. One of the properties, in Bienville Parish, Louisiana, contained 45 acres of woodland. The
Barbara Lucinda Sawyer worked as a paralegal for Melbourne Mills, Jr., an attorney at a law firm. Sawyer proposed that Mills and the law firm become engaged in class action lawsuits. Mills agreed to
Implied Warranty of Fitness for a Particular Purpose Felicitas Garnica sought to purchase a vehicle capable of towing a 23-foot Airstream trailer she had on order. She went to Mack Massey Motors,
Martin Silver ordered two rooms of furniture from Wycombe, Meyer & Co., Inc. (Wycombe), a manufacturer and seller of custom-made furniture. Wycombe sent invoices to Silver, advising him that the
Alex Abatti was the sole owner of A&M Produce Company (A&M), a small farming company located in California’s Imperial Valley. Although Abatti had never grown tomatoes, he decided to do so.
Independent Contractor or Agent Frankie and Trena Gibbs and Joel and Madeira Glenn were members of the same church, which both couples attended. The church held a fundraiser whereby members would
The town of Harrison, New Jersey, adopted Ordinance 747, which stipulated that “all officers and employees of the Town shall, as a condition of employment, be bona fide residents of the Town.”

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