Staryer LEG 100 Mid Term Exam – I

| August 31, 2016

Course Business Law I

Test Midterm Exam Part 1


This exam consist of 25 multiple choice questions and covers the material in Chapters 1 through 3.

• Question 1

Which of the following is a theory that recognizes that firms have relationships with many constituent groups which both affect and are affected by the actions of the firm?

• Question 2

Managers can make their own ______ law by entering into contracts and crafting certain governance structures.

• Question 3

The ______ approach recognizes that “business decisions consist of continuous, interrelated economic and moral components.”

• Question 4

Which of the following is listed in the text as a component of managing risk when assembling a team in business development?

• Question 5

The ______ approach to business and society introduced in the text is a descriptive framework that integrates legal and societal considerations with mainstream theories of competitive advantage and social responsibility.

• Question 6

Which of the following is an advocacy group that has lobbied against marketing to children?

• Question 7

Congress rescinded the jurisdiction of which of the following agencies over advertising to children?

• Question 8

Which of the following is a term addressing the ability of a manager to communicate effectively with counsel and to work together to solve complex problems?

• Question 9

According to the Delaware Supreme Court, when does the role of a director shift from being a “protector of the corporate bastion” to being an “auctioneer” charged with obtaining the highest realizable short-term value for the shareholders?

• Question 10

According to the Kantian theory of universalizability, the ethical worth of an act is determined by whether one

• Question 11

Which of the following are the three main theories under the comparative justice framework?

• Question 12

Which of the following is not an example of St. Thomas Aquinas’ requirements for a law to be just?

• Question 13

Rawls believed that social policies developed behind the veil of ignorance would create a system that most benefits the

• Question 14

Which of the following is a stakeholder of a corporation?

• Question 15

Which of the following international organizations adopted a convention criminalizing bribes to government officials and recommending a prohibition on the tax deductibility of bribes?

• Question 16

In 2010, the average CEO of a company in the Standard and Poor’s 500 Index took home more than _____ times as much as the average worker.

• Question 17

The critical test under the Due Process Clause in determining whether jurisdiction over an out-of-state defendant exists is:

• Question 18

Robert had a dispute with his neighbor regarding the location of the property line. Robert’s attorney suggests to Robert that both parties contribute funds toward hiring individuals to serve on a nonbinding jury and render a suggested verdict. Which of the following is the appropriate term for that type of procedure?

• Question 19

The _____________ officially notifies a defendant that a lawsuit is pending and that a response to the complaint must be filed within a certain number of days.

• Question 20

The party appealing a case is referred to as which of the following?

• Question 21

Which of the following is a term referencing the method used for determining the citizenship of a corporation for purposes of diversity of citizenship?

• Question 22

When it decides to hear a case, the U.S. Supreme Court issues a ____________

ordering the lower court to certify the record of proceedings below and send it up to the Supreme Court.

• Question 23

A ______ action is brought by a representative of many people suffering the same harm.

• Question 24

Assuming that more than one forum has jurisdiction over a lawsuit, the doctrine of ____________ involves a determination of which forum is more appropriate.

• Question 25

The ______________ control the civil trial practices in all of the U.S. district courts.

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