BLAW 3310-Final Exam Questions And Answers With Complete solution

BLAW 3310-Final Exam Questions And Answers With Complete solution 1. administrative agencies, at both the federal and state levels are created A. Enabling Statues 2. The decisions of administrative agencies may be appealed into court under a principle known as A. (judicial review 3. The securities act of 1933 is primarily concerned with disclosure of essential information about a securities offering B. Before it is offered to the public 4. The securities exchange act of 1934 is primarily concerned with the trading of securities B. After they have been issued and are being publicly traded 6. Antitrust regulatory statues are primarily concerned with inside trading violations B. False 7. A court case involving allegations of territorial divisions of markets will be brought under A. The Sherman Antitrust Act 5. What price agreements among competitors are legal? D. none because such an agreement would be a per se violation of the Sherman Antitrust Act 8. The securities and Exchange Commission B. Is a federal regulatory agency charged by congress with administration of both the Securities Act of 1933 and the Securities Exchange Act of 1934 9. A "monopoly" is, by its nature, anti competitive. A. True 10. The constitutional basis for antitrust regulation by the federal government is B. The commerce Clause 11. The Registration Statement requirement is found in B. the Securities Act of 1933 12. Which of the following bankruptcy procedures involves a plan for reorganization? B. A chapter 11 procedure 13. General unsecured creditors have no priority claims in a bankruptcy case B. False 14. Governmental regulatory agencies may be found D. All of The above. (at the local level of government, state and federal level) 15. In an antitrust case, the federal courts will apply to the "Rule of Reason", unless there is a per se violation A. True 16. In order for there to be an antitrust violation, there must D. be an unreasonable threat to competition 17. The constitutional basis for antitrust legislation is found in C. the Interstate Commerce Clause 18. Which of the following is always an antitrust violation? B. Price fixing 19. The securities act of 1933? C. both a and b. (is designed to provide a true disclosure of information prior to offering a security for sale to the public, and provides for a Registration statement to be filed with the SEC) 20. Which of the following, in addition to providing for enforcement by the federal government also provide for private causes of action for treble damages? C. both a and b (the Sherman antitrust act of 1890 and the Clayton Antitrust Act of 1914) 21. Trading on inside information by an insider is? A. an act of fraud 22. Price fixing is A. an antitrust violation 23. Under the Securities Act of 1933 there may be C. both a and B (civil actions brought by the SEC and criminal prosecutions) 24. A hearing in a federal administrative agency before an administrative law judge B. is subject to judicial review in federal court 25. Federal antitrust law provides that all mergers are per se violations B. False 26. A promise without consideration will form a binding contract B. False 27. A contract calling for performance of an act prohibited by law is A. Void 28. Which of the following statements is true? B. Any debtor may file a chapter 11 petition 29. Wesley Waters, age 16, purchases a boat and trailor. He takes possession of both. Subsequently, Wesley decides he wants out of the contract A. Wesley can disfafform the contract may keep both the boat the trailor 30. IF, after a debtor receives a discharge in bankruptcy, it is discovered that the debtor acted fraudulently or dishonestly during the bankruptcy proceeding, A. The bankruptcy court may revoke the discharge 31. If a seller breaches a contract for the sale of land, the non-breaching buyer B. may sue for and recover the equitable remedy of specific performance, since the remedy at law would be inadequate 32. Corporate profits in a C corporation may be subject to double taxation A. True 33. "Piercing the corporate veil" is B. To ignore the entity nature of the corporation thus exposing the shareholders to individual liability 34. An agent may be either an employee or an independent contractor A. True 35. A federal statue taking priority over a conflicting state statue is an example of A. The doctrine of premption 36. Securities regulatory statues are found at both the federal and state levels A. TRUE 37. The action of The US Supreme Court in declaring an act of Congress unconstitutional is an expression of the doctrine of B. Judicial review 38. Securities regulation is found only in federal law B. False (State and federal law) 39. The main purpose of antitrust legislation is to foster free market competition A. True 40. In order for the federal antitrust statues to apply, the activity in question must have created an actual monopoly B. FALSE 41. A land title which is considered "marketable" is C. BOTH A AND B (what a purchaser of the land is entitled to receive at closing, a non-defective title) 42. In order for a defendant to be liable in an antitrust lawsuit the facts must prove that B. The defendant's activity poses an unreasonable threat to competition 43. Tort law is exclusive fault based B. False 44. Tort causes of action are recognized in certain cases for strict liability, which does not involve fault A. True 45. Admissibility of evidence is the trial of a lawsuit is A. question of Fact 46. Whether a defendant was guilty of negligence is B. question of law 47. Generally speaking, the 2005 bankruptcy legislation makes the federal bankruptcy law less Debtor friendly A. True 48. A court cases involving allegations of insider trading will be brought under B. The securities exchange act of 1934 49. Bankruptcy courts are exclusively B. Federal courts 50. A tort is A. A civil wrong other than a breach of contract