Which of the following is a consideration when choosing a form of business organization?Which of the following is a consideration when choosing a form of
... [Show More] business organization?Which of the following is a consideration when choosing a form of business organization?
The level of difficulty and cost associated with establishing the business entity
Since corporations are separate legal entities from their shareholders, which of the following is true?
Shareholders are usually not financially accountable for the actions of the corporation, but neither do they own the assets of the corporation.
Which level of state court has the right to select which cases it wishes to hear?
Supreme court
Which of the following is true of U.S. positive law?
It includes common law, as well as federal and state statutory law.
Compared to traditional litigation, arbitration and mediation are both __________.
quicker and more cost-effective
Select the example where the court has established personal jurisdiction over the defendant.
Miguel is being sued by an acquaintance of his over unpaid debts. Both Miguel and the plaintiff are residents of Colorado. Miguel has not been personally visited by a process server with a summons to appear in court, but he did receive one in the mail at his home.
Why do LLCs often have problems borrowing funds for business growth?
Because the members of the LLC are not personally liable for the debts and loans received by the LLC
In which scenario do the different court systems in the U.S. interact properly?
An Indiana court hears a case related to an auto accident that happened in the state between residents of Ohio and Illinois. When trying the case, the Indiana state court judge considers the laws of Indiana, since that's where the accident occurred.
Select the true statement about primary sources of law in the U.S.
Speed limits are an example of substantive law.
A corporation is concerned about their exposure to criminal liability after the most recent election cycle placed a number of new legislators in Congress who campaigned against corporate corruption.
Select the strategy that would be least effective in reducing the company's criminal liability.
It could donate to the election campaigns of the new members of Congress to establish goodwill.
Which statement accurately characterizes the constitutional relationship between the states and the federal government?
State laws cannot conflict with federal laws or with the U.S. Constitution.
The new CEO of a large coffee corporation makes fighting sexual harassment a cornerstone of the company's culture after a series of embarrassing incidents involving several of the company's managers are leaked to the media. The corporation drafts a new code of ethics with an expanded set of policies related to sexual harassment, creates a series of mandatory workshops for its workforce, and fires the managers involved in the incidents.Consider what you have learned about the factors that impact corporate culture. What is the ethical strength of the corporation in the example?
Strong, because the CEO is setting expectations for ethical behavior and holding violators accountable.
Which of the following is an example of a general partnership?
Ken and Paul start a graphic design business together. When Ken fails to deliver on a contract with a customer, Ken and Paul are held equally responsible when the customer sues for damages.
According to Josephson's core values model for ethical decision-making, what should X Corporation do next?
Evaluate whether the decision to suppress the information would satisfy any core values and contrast it to other possible decisions.
Which of the following correctly pairs the levels of the federal court system with the types of cases each decides?
U.S. Circuit Court - appeals; U.S. District Court - trials
Which of the following do legal positivists believe?
The only human rights are those that have been created by human-made law.
ABC Corporation is one of the largest energy companies in the United States, with over $50 million in publicly traded shares. The corporation's unusual accounting practices have disguised the fact that the company has accumulated significant losses over the past five years, making it appear far more profitable than it is. The CEO of ABC Corporation has decided to continue misleading investors by hiding its mounting debt in order to support the company's current market valuation.How would a deontologist evaluate this decision?
ABC Corporation is acting unethically because it sees the investors' interests as unequal to the interests of the CEO and the corporation.
If a breach of contract case is filed in federal court, the court __________.
has subject matter jurisdiction if the claim is for more than $75,000 and no plaintiff lives in the same state as any defendant
Select the true statement about the relationship between law, ethics, and business.
People generally have similar opinions on what actions or conduct are called moral, and the marketplace rewards businesses that conduct themselves in such a manner.
Select the true statement about statutory law.
Statutes are formed by democratically elected legislative bodies, subject to a system of checks and balances. [Show Less]