UNIVERSITY OF MARYLAND UNIVERSITY COLLEGE Business Law I‚ BMGT 380 Midterm Examination This midterm examination is open book‚ open notes‚ but you are on the honor system not to seek assistance from anyone to complete this exam. There are 25 multiple choice questions worth 2 points each and 10 essay questions worth 5 points each‚ for a total of 100 points. Answer all the questions because for the essays partial credit is given where appropriate. Just submit the question number and your answer
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BMGT 380‚ Business Law I Case 6.1‚ pg 118 Critical Legal Thinking 1. What elements are necessary to prove negligence? Basically three things must happen: • A harm must have occurred • The defendant is at fault • The plaintiff must prove that the defendant breached a duty of due care to the plaintiff. 2. Do you think that McNeil was negligent in this case? Absolutely‚ it was proven that McNeil was aware of the possible effects of individuals taking this medication with
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Midterm Responses Question 1: The issue here is whether Brian Logan was required to pay the $20 fee for the seminar to cover the cost of the handbook to Expert Investments Corp (EIC). Was an agreement ever made between the two parties (Brian and EIC)? A contract requires 1) an agreement‚ 2) consideration‚ 3) legality‚ and 4) capacity. An agreement is made when there is an offer with the intent to be bound by the offer‚ reasonably definite terms‚ and communication of offer to offeree by offeror
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Business Law II Exam I Review ____ 1. As part of a loan to pay for improvements to her restaurant‚ Courtney executes a negotiable instrument in favor of Tim. They are the only parties to the instrument. A negotiable instrument that has only two parties is The promissory note is the simplest form of commercial paper; it is simply a promise to pay money. A promissory note is a two-party instrument in which one person(known as the maker) makes an unconditional promise in writing to pay
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1. What is law? (There are 6 functions) A body of rules of action or conduct prescribed by controlling authority. Six functions: keep the peace‚ maintain the status quo‚ preserve individual rights‚ protect minorities against majority‚ promote social justice and provide for orderly social change. 2. What does jurisprudence mean? What does common law mean? Jurisprudence is the philosophy of law. Common law is judicial decisions that don’t involve interpretations of statutes‚ treaties‚ regulations
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Business Law I Assignment 3 Spring Term B BU 206-8A Instructor Problem 8-1 page 232 1). Consideration. Daniel‚ a recent college graduate‚ is on his way home for the Christmas holidays from his new job. He gets caught in a snowstorm and is taken in by an elderly couple‚ who provide him with food and shelter. After the snowplows have cleared the road‚ Daniel proceeds home. Daniel’s father‚ Fred‚ is most appreciative of the elderly couple’s action and in a letter promises to pay them $500
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Name: ________________________ Class: ___________________ Date: __________ ID: A Business Law Mid-Term (Chapters 1-4) Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. 1. Select the best definition of ethics: a. c. the right of all persons to have the same access to the law and courts. b. ____ a fundamental principle of fairness in all legal matters. a set of principles of right conduct. d. group
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QUIZ # 3: BMGT 110 SECTION I 1. One or more of your colleagues encountered the quote‚ which follows. And at first they gave it little or no thought. It read: “[p]rovide America’s taxpayers top quality service by helping them understand and meet their responsibilities and by applying the tax law with integrity and fairness to all”? In a couple of words what kind of statement is this: IRS Mission Statement. 2. Which type of merger is likely to receive the closest examination by the
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They Work Student Name BUS311 Business Law I Instructor: name Date Abstract In this paper‚ I will reflect on the operation of contracts. Business law shows how contracts may be classified in several ways depending on the manner in which they are created‚ expressed‚ or performed. I have learned a lot from this course and I will use that to help write this paper. In the following paper I will discuss the oral or written contracts; I will discuss express or implied
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Chapter one Business Law Law is a set of rules‚ enforceable by the courts‚ which regulate the government of the state and governs the relationship between the state and its citizens and between one citizen and another. There are various ways in which the law may be classified; the most important are: * Public and private law * A) Public law is concerned with the relationship between the state and its citizens. Specialised areas are: 1. Constitutional law is concerned with the workings
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