Practice Quiz

DSST Business Law II Exam Prep - Question List

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36. What is a remedy for a fraudulent conveyance?
  1. The court will reclaim the property and sell it to pay creditors.
  2. The court will subject the debtor to criminal prosecution.
  3. The court will fine the debtor.
  4. All of the above.
  5. None of the above.
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37. In which of the following contracts cases is the defendant most likely to be charged with the crime of fraud?
  1. Defendant Marla misrepresented her puppy's pedigree when selling it to Mona.
  2. Defendant Jordan misrepresented his income when applying for a credit card with Jack's Superstore.
  3. Defendant Mark misrepresented his educational background when entering into an employment agreement with Mike.
  4. Defendant Kyle misrepresented his income when asking Kate to marry him.
  5. Defendant Nancy misrepresented the condition of her car when she sold it to Nona Jo.
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38. In 2000, the worldwide airline industry was in trouble. Many airlines were on the verge of bankruptcy. Several airline executives, in an attempt to avoid financial ruin, instituted a scheme that artificially inflated passenger and cargo fuel surcharges between 2000 and 2006 to make up for lost profits. When the U.S. Department of Justice discovered the scheme, the airlines were fined a total of over $1 billion dollars, and a few executives served jail time. The airlines and executives were found to have engaged in which impermissible activity?
  1. Tying arrangement
  2. Collusive bidding
  3. Monopolization
  4. Price fixing
  5. Exclusive dealing
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39. Which of the following are defenses to the formation of an agreement?
  1. Unilateral mistake
  2. Duress
  3. Statute of frauds
  4. Mutual mistake
  5. All of the above.
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40. Under Section 2 of the Sherman Antitrust Act, to find a defendant guilty of monopolization what must the government prove?
  1. That the defendant was aware that his company's board of directors had the intent to monopolize.
  2. That the defendant had secret meetings with his or her board of directors where they planned how they could gain the power to monopolize.
  3. That the defendant had the intent to monopolize with the power to monopolize and that the defendant exercised the power.
  4. That the defendant had the intent to monopolize.
  5. That the defendant had the intent to monopolize with the power to monopolize.
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