loma 311 exam review questions with answers

loma 311 exam review questions with
answers

Legislative }- }correct }answers✔✔Parliament }is }the }equivalent }of }what }type }of }American }branch }of
}government




State }Court }System }- }correct }answers✔✔Trial }courts, }appellate }courts, }supreme }court



Federal }Court }System }- }correct }answers✔✔District }court, }circuit }courts }of }appeal, }supreme }court



Affirmative }Defense }- }correct }answers✔✔allegation }of }facts }that }constitute }a }defense }to }the }plaintiff's
}claim




Interrogatories }- }correct }answers✔✔Written }questions }that }one }party }prepares }and }that }the }other }party
}must }answer }in }writing }within }a }specified }time




Preponderance }of }the }evidence }- }correct }answers✔✔Means }that }the }decision }as }to }an }issue }of }fact }must
}be }supported }by }the }greater }weight }of }the }evidence }(for }civil }cases)




Proof }Beyond }a }Reasonable }Doubt }- }correct }answers✔✔Higher }degree }of }proof, }normally }reserved }for
}criminal }cases




Conversion }- }correct }answers✔✔The }unauthorized }exercise }of }dominion }and }control }over }another
}person's }property




Compensatory }Damages }- }correct }answers✔✔Damages }designed }to }compensate }an }injured }party }for }the
}amount }of }the }monetary }loses }resulting }from }defendant's }conduct




Benefit }of }the }Bargain }- }correct }answers✔✔Compensatory }damages }given }in }a }breach }of }contract }lawsuit

, Punitive }Damages }- }correct }answers✔✔Damages }that }are }awarded }in }addition }to }compensatory
}damages }when }defendant's }conduct }was }malicious }or }willful




Nominal }Damages }- }correct }answers✔✔Damages }that }are }awarded }when }plaintiff }is }wronged, }but }he }did
}not }suffer }a }loss, }or }cannot }prove }the }amount }of }the }loss }with }reasonable }certainty, }or }if }loss }was }trivial.

}Not }eligible }for }compensatory }damages




Company }limited }by }shares }- }correct }answers✔✔a }company }whose }owner's }liability }is }limited }to }the
}investment }they }made }when }they }purchased }the }company's }shares




Company }limited }by }guarantee }- }correct }answers✔✔a }company }whose }owners }agree }to }pay }up }to }a
}stated }amount }if }the }company }is }liquidated




Federal }Trade }Commission }Act }- }correct }answers✔✔Antitrust }law }that }established }the }Federal }Trade
}Commission }(FTC) }and }gave }it }the }power }to }enforce }federal }antitrust }laws




Price }Fixing }- }correct }answers✔✔An }antitrust }violation }that }occurs }when }competitors }act }together }to
}affect }the }price }of }a }product }or }service




Unfair }price }discrimination }- }correct }answers✔✔An }antitrust }violation }that }occurs }when }a }seller }agrees
}to }sell }goods }to }a }buyer }at }a }price }that }is }lower }than }the }price }charged }to }other }buyers }under }the }same

}circumstances




Tying }Arrangements }- }correct }answers✔✔An }antitrust }violation }were }an }illegal }arrangement }under }which
}a }business }will }sell }one }product }to }a }purchaser }only }if }the }purchaser }also }buys }a }second }different

}product }from }the }firm




Treble }Damages }- }correct }answers✔✔An }amount }equal }to }three }times }the }actual }damages. }Given }to }a
}person }who }has }been }harmed }by }a }violation }of }federal }antitrust }laws.