LSTD 2106 CHAPTER 1 HW QUESTIONS
AND ANSWERS 100% CORRECT
Most businesses rely on _______ for their corporate legal services.
-the government
-district attorneys
-law firms
-litigators
-in-house counsel - ANSWER--law firms
In the course of her day, O'Connor counsels several business clients on issues related
to start-up ventures in the technology sector. She gives advice related to incorporation,
shareholders agreements, leases, employment contracts, and charges each client
based on her hourly rate. O'Connor is likely to be:
-an assistant district attorney.
-a business attorney working in a law firm.
-vice president and general counsel at a technology company.
-a litigator working in a law firm.
-in-house intellectual property counsel. - ANSWER--a business attorney working in a
law firm.
Which of the following should be considered when faced with a legal challenge?
I. Imminence and threat level of the challenge
II. Costs of resolving the dispute
III. Business relationships involved
IV. Worst-case scenario
-I, II, and III
-I and II
-I, II, III, and IV
-IV only
-I only - ANSWER--I, II, III, and IV
Gustavo is the general manager of an audio equipment manufacturing company. One of
his customers, Retailer, complains that the last batch of speakers was defective and
refuses to pay the $100,000 invoice. Gustavo tries to settle the matter by offering to fix
the speakers to Retailer's satisfaction. Retailer refuses and demands that Gustavo
replace each speaker and cut the price by $50,000. Gustavo's counsel has advised him
that Retailer breached the agreement and is liable for the full $100,000. What is
Gustavo's best strategy alternative?
AND ANSWERS 100% CORRECT
Most businesses rely on _______ for their corporate legal services.
-the government
-district attorneys
-law firms
-litigators
-in-house counsel - ANSWER--law firms
In the course of her day, O'Connor counsels several business clients on issues related
to start-up ventures in the technology sector. She gives advice related to incorporation,
shareholders agreements, leases, employment contracts, and charges each client
based on her hourly rate. O'Connor is likely to be:
-an assistant district attorney.
-a business attorney working in a law firm.
-vice president and general counsel at a technology company.
-a litigator working in a law firm.
-in-house intellectual property counsel. - ANSWER--a business attorney working in a
law firm.
Which of the following should be considered when faced with a legal challenge?
I. Imminence and threat level of the challenge
II. Costs of resolving the dispute
III. Business relationships involved
IV. Worst-case scenario
-I, II, and III
-I and II
-I, II, III, and IV
-IV only
-I only - ANSWER--I, II, III, and IV
Gustavo is the general manager of an audio equipment manufacturing company. One of
his customers, Retailer, complains that the last batch of speakers was defective and
refuses to pay the $100,000 invoice. Gustavo tries to settle the matter by offering to fix
the speakers to Retailer's satisfaction. Retailer refuses and demands that Gustavo
replace each speaker and cut the price by $50,000. Gustavo's counsel has advised him
that Retailer breached the agreement and is liable for the full $100,000. What is
Gustavo's best strategy alternative?
