Questions and Answers of Business Law Today

The point at which science, technology, and the law intersect is often referred to as juriscience . True/False
Congressional power to regulate science and technology is found in the general welfare clause, the commerce clause, and the necessary and proper clause. True/False
The National Science Foundation (NSF) is a federally funded agency that was created to support scientific research and education, to stimulate the national economy, and to safeguard national
The Federal Energy Regulatory Commission (FERC) is r e sponsible for regulating the transportation and the wholesale price of natural gas alone. True/False
The Nuclear Regulatory Commission owns and operates 104 civilian nuclear power plants and 63 military reactors. True/False
The Clean Air Act is designed to limit pollution from vehicles but not from stationary sources such factories and manufacturing centers. True/False
A patent gives the inventor the exclusive right to make, use, and sell that invention for a period of 20 years (14 years if the patent covers a process). True/False
A trade secret is a plan, process, device, procedure, formula, pattern, compilation, technique, program, design, method, or improvement used in a business and disclosed only to those employees who
A copyright is an intangible property right granted to authors of literary, artistic, and musical compositions. True/False
A central function of the law is to contribute to the civic peace by securing order, stability, and justice. True/False
Scientific partnerships are valuable because they make use of the talents, abilities, and experience of researchers at various levels of the scientific community and in a wide variety of settings.
The UN Economic Security Council was established in 2010. True/False
How does the law permit the government to regulate science and technology?
What is the function of the Office of Science and Technology Policy?
What is the role of the National Science Foundation?
What is the function of the National Institutes of Health?
What are the three major challenges facing the modern world?
What is the purpose of the Federal Energy Regulatory Commission?
What is the role of the Nuclear Regulatory Commission?
What are the functions of the Clean Air Act and the Clean Water Act?
How does the law protect trademarks, trade secrets, and copy rights?
What are the four main issues that must be considered in developing a science policy?
Earth Sciences, Inc., conducted gold-leaching operations in Colorado. The process involved spraying gold ore with a toxic substance. To prevent pollution, Earth Sciences had installed a reserve sump
Gaskin, Ohio is the home of Ransom College.Each August the population of the small village triples as the students return. When this happens, the traffic in the middle of town becomes congested and
Under the authority of the Clean Water Act, the Global Environment Resistance Movement(GERM) initiated a citizen’s suit under the authority of the Clean Water Act asking the court to issue an order
Officials at Semco, Inc., believed that some of their most important computer files, which they characterized as trade secrets, had been appropriated by Terry Hildreth, a former vice president of
Parrish and Chlarson worked for J&K Computer Systems, Inc. Parrish was a computer programmer, and Chlarson was a trainee. In his capacity as programmer, Parrish wrote an accounts receivable program.
Diehr and Laton applied for a patent to protect their development of a new process for molding raw, uncured synthetic rubber into cured products.Diehr and Laton argued that their unique contribution
Hiroyuki Iwahashi , Yoshiki Nishioka , and Mitsuhiro Hakaridani applied for a patent for an autocorrelation unit for use in computers for pattern recognition, in this case to aid in voice
Stern Electronics, Inc., entered a licensing agreement with Konami Industry Co., Ltd., granting Stern exclusive rights to market the video game Scramble in the United States. Omni Video Games, Inc.,
In Kelo v. City of New London the city fathers of New Lo n don agreed to help the Pfizer Corporation which had decided to build a research and manufacturing center in the city. To do this, the city
The citizens of Oregon authorized the establishment of the Oregon Death with Dignity Act (ODWDA), which protected physicians from prosecution under criminal law and from litigation under civil law
When members of the J. Craig Venter Institute filed patent #US 2007 0264688 with the U.S. Patent Office, they expected to be met with a flurry of protests. In fact, the tone of the news release sent
In a review of the Earth II Summit by Derek Osborn of the United Nations Environment and Development UK Committee (UNED-UK) and Tom Bigg also of the UNED-UK, several prominent global figures comment
The controversy surrounding UNESCO’s politicization has caused an enormous amount of difficulty for the organization throughout the years. Of course, there are those commentators who say that
One of the problems that the ESC would be forced to deal with early on would be uncontrolled population growth. Remember that one of the reasons for modeling the ESC after the Security Council and
A world order is a set of initial conditions that describes how nation-states relate to one another on a global scale. True/False
The Westphalia system is based on the existence of nation-states as the primary actors on the international scene. True/False
The democracies have won the ideological battle and history has ended. True/False
One central question that cannot be answered solely by the law of a single nation-state is whether a war is just. True/False
The just war theory was developed in the twenty-first century to deal with problems of modern warfare. True/False
The Geneva Conventions attempt to establish rules involving occupation forces and prisoners of war. True/False
The secretary general is the chief administrator of the United Nations. True/False
When a nation is involved in a case presented to the ICJ, that nation must voluntarily eliminate any judge on the panel that is a citizen of that nation. True/False
The UCC and the CISG are identical in every way. True/False
Two organizations that emerged in the aftermath of the Great Depression and World War II were the International Monetary Fund and the World Bank. True/False
None of the agreements, treaties, or trade obligations created under GATT have been included in the WTO. True/False
NAFTA is a trading coalition that includes the United States, the United Kingdom, and Greenland. True/False
What are the four new world order theories?
What are the criteria for a just war?
What is the extent of the jurisdiction of the International Court of Justice?
What is the mission of International Criminal Court?
What is the main goal of UNCITRAL?
What are the differences between the UCC and the CISG?
What is the structure of the World Trade Organization?
What are the objectives of the Dispute Settlement Understanding?
What is the major purpose of NAFTA?
What is the European Union?
After General Manuel Noriega had come under the authority of the United States forces following the invasion of Panama, his attorneys argued that he should be treated as a prisoner of war (POW) under
American Rice, Inc., a U.S. corporation, sold its goods in Saudi Arabia under the trade name of ABU BINT, which means “of the girl.” Another American corporation, the Arkansas Rice Gro wers
Gulf Oil Corporation and Eastern Air Lines entered a contract under the terms of which Gulf Oil was obligated to supply Eastern with jet fuel according to an established pricing system. In 1973, the
Kenneth Armstrong, an American citizen, purchased the co m ponent parts of computers in Germany, Japan, and the United States. He took those parts to Bolivia, where he constructed the computers,
France and Japan are involved in a dispute regarding trade in aircraft parts. France claims that in violation of certain trade agreements, Japan is imposing a tariff on certain types of aircraft
Helga Godel, a German citizen, placed an order for certain software items from Pascal Enterprises, a French firm. On the same day, she ordered a silverware set from Silverwings Ltd., an Austrian
When United States military forces entered Pakistan for the express purpose of invading the al Qaeda compound in Abbottabad and either capturing or killing Osama bin Laden, they were not concerned
In her influential study of World War I, The Guns of August , the historian Ba r bara W. Tuchman writes that in 1910 two very different, yet equally popular, views on the prospect of future wars
The International Court of Justice is an agency of the United Nations, established under a statute within the UN Charter. Fifteen judges sit on the ICJ. The judges are elected by the Security Council
What is risk management and what is the purpose of insurance?
What are the contractual elements of an insurance agreement?
Why is insurable interest so important?
What are the differences among types of life insurance?
How does insurable interest differ with life insurance and property insurance?
What coverage is given by fire, marine, homeowner’s, renters, and flood insurance?
What differences exist among the principal kinds of automobile insurance?
What benefits are included in health insurance policies?
What are the steps in applying for, obtaining, and maintaining an insurance policy?
Juan Ramos’s wife, Maria, became concerned after a violent storm caused disastrous flooding in a community not too far down the river from where their house was located. She felt comforted when her
Al Zuni Trading, Inc., purchased a $1 million life insurance policy on the life of one of its officers, Thomas McKee. Three months later, McKee resigned from the company. Two years later, McKee died.
U.S. Aviation Underwriters issued an aircraft insurance policy to Cash Air, Inc., covering its employees. The policy stated that to be covered under the policy, the aircraft must be “flown only by
Victory Container Corporation was owned by the three Radin brothers. Two of those brothers also owned the Warrensburg Paper and Board Corporation. Victory had no direct ownership of the Warrensburg
Avrit and Schuring entered an agreement to purchase a certain property. Each paid $1,000 as a down payment. They were later to pay an additional $25,000. The seller of the property was to maintain
Martin Searle’s life insurance policy contained a standard suicide clause. Under the clause, Allstate would not be liable to the beneficiary, Alice Searle, should Martin commit suicide within the
Bayer took his car to Whitaker’s auto repair shop for repairs. Whitaker took the car for a test drive, with Bayer seated in the passenger seat. During the test drive, a car operated by another
Riggins contacted the Hartford Insurance Company and asked for an all-risk policy for his truck. An underwriter for Hartford agreed to the policy and issued a binder on March 28. On April 2, before
When Sidney Henry applied for insurance with State Farm, he was asked whether he had ever had recurrent indigestion or a hernia. Henry answered no to each question. In fact, he had experienced
On January 13, Lax made out a check to State Farm Insurance to pay for her automobile insurance, which had lapsed 62 days earlier. Unfortunately, she forgot to mail the check. On January 22, Lax was
Often the day-to-day details of a relationship interfere with the big picture. Sometimes small things in life are overlooked; promises are broken; responsibilities put aside. Most of the time none of
A security device is a way for creditors to get their money back in case the borrower or debtor does not pay. True/False
A home equity loan is an example of a junior mortgage. True/False
The mortgagor has the right to possess the mortgaged property and to any income produced by the property unless otherwise assigned. True/False
Subprime lending was the only cause of the 21st century financial crisis. True/False
Although the securitization process works very well for mortgage-backed securities, it has never been applied to other types of assets. True/False
The federal government was forced to take over Fannie Mae but did not have to follow a similar strategy with Freddie Mac. True/False
A security interest is perfected when the secured party has a legally enforceable right to take that property and sell it to satisfy the debt. True/False
Security interests in most kinds of personal property are perfected by filing a financial statement in a public office. True/False
Buyers of goods in the ordinary course of business (except farm products) prevail over security interests in the seller’s inventory. True/False
What types of mortgages are available to borrowers?
What is the legal effect of recording a mortgage?
What are the rights and duties of the mortgagor and those of the mortgagee?
What are Fannie Mae, Ginnie Mae, and Freddie Mac?

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