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Exam (elaborations)

Bus 115 Exam Review Questions With Answers

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BUS 115 EXAM REVIEW QUESTIONS WITH ANSWERS

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When first established, the primary purpose of RICO was


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to be a tool against organized crime.




When a judge orders a criminal defendant to reimburse the victim, it is called

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restitution




Law governing relations among governments and international organizations is
referred to as __________, while law that applies to private parties in international
commercial and legal transactions is referred to as _________.


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Public international law; private international law




Which of the following is a standard provision frequently found in contracts?


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Choice of forum




Notren, Inc., a U.S. company, and SWT, a Singapore company, entered into a contract
under which SWT is to ship party suppliers to Notren. One of the terms of the
contracts states, "Any disputes that arise under this contract will be resolved in the
courts of Singapore." This contract is a


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Choice of forum clause

,In a comparative negligence state, if the plaintiff in a negligence lawsuit is found to be
30 percent negligent, the plaintiff would recover


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70 percent of the damages.




Which of the following statements best describes common law?


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Common Law requires judges to base their decisions on prior cases.




Curtis filed a lawsuit against Ulhoff for failure to repay $1,000 according to the terms
of a promissory note. The trial ended before it began, with the trial judge granting a
motion for summary judgment in favor of Curtis. Ulhoff has appealed, and the
Supreme Court of Iowa has remanded the case. This means


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We don't know who wins yet because the case is being returned to the trial
court for additional steps.




Ikerd was entering the United States from a trip abroad when the Customs Service
confiscated some goods she had purchased and brought back with her. The
determination of whether the government is attempting to take property and what
type of hearing the Customs Service must offer Ikerd is an analysis of

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procedural due process.




When an appeal is filed with the U.S. Supreme Court, the Supreme Court


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has discretion as to which cases it hears.




Which of the following is an example of a purchase money security interest in
consumer goods?


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A doctor purchasing on credit a blood glucose monitor to check his own
blood sugar levels




Statutes of limitations


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limit the time in which an injured party may sue.




Roger assaulted Jim in a tavern, causing medical expenses and lost wages. Which of
the following is true?

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