Legal Environment of Business Final Review

Name of the source of international law that consists of international customs that have evolved among merchants of various nations

• Lex Mercatoria

• Stare Decisis

• Vior

• None of the above

If you are a buyer, you want your good shipped as an FOB shipment.

• True

• False

Intent to enter a contract is determined with reference to what an objective person would think when viewing the transaction

• True

• False

To avoid income taxes at the corporate level, you should form a

• Subchapter K Corporation

• Subchapter P Corporation

• Subchapter S Corporation

• None of the above

What law made identity theft a crime?

• Consumer Protection Act

• Identity Theft Law

• Patriot Act

• Identity Theft and Assumption Deterrence Act

What country did all representatives meet in one place to discuss their conflict to avoid war?

• Rome, Italy

• Athens, Greece

• Venice, Italy

• Paris, France

What is an agreement negotiated by members of international organizations that is open to adoption by other nations?

• A contract

• A convention

• A treaty

• A tariff

What country is not a permanent member of the United Nations Security Council?

• Germany

• Japan

• China

• Italy

The Miranda Warnings must be given every time the police want to question a suspect.

• True

• False

A tariff is a tax on imported goods

• True

• False