quiz 8 bussines law

by

Business Finance

1. A misplaced comma can literally be the difference between life and death.

a. True b. False

2. The act of state doctrine immunizes foreign nations from the jurisdiction of U.S. courts when certain conditions are satisfied.

a. true b. false

3. A tariff is a set limit on the amount of goods that can be imported.

a. true b. false

4. Gearbox Inc., a maker of vehicle parts, refuses to sell to Motor Repair Inc., a national vehicle service firm. Gearbox convinces Cam Company, a competitor, to do the same. This is

a. a group boycott. b.a customer restriction. c. a trade association. d.a market division.

5. The Food and Drug Administration (FDA) is an executive agency. As an executive agency, the FDA is subject to the authority of

a. no government official or entity. b. the president. c. state legislatures. d. the U.S. Attorney General

6. A testamentary trust Is created by a will and comes into existence on the settlor’s death.

a. true b. false

7. For Vern’s will to be valid, he must be mentally competent at the time of

a. death. b. the acquisition of the property to be distributed under the will. c. the making of the will. d. the probate of the will.