MGMT 520 Final Exam
#1 (TCO A & F) Ownership of property has long been a major benefit of businesses in the U.S. and on the World Stage. Such property varies from Real Property and Tangible Property. Define these two types of property in and give examples of each such property.
#2 TCO I) An American Petroleum Engineer, who has been on an Offshore Nigerian Oil Platform for 30 days, enters Lagos harbor in a work boat with 15 Nigerian oil rig workers. The work boat is stopped by the Lagos Harbor Police. The Police Captain immediately spots the American and demands to see his Work Visa. The Engineer surrenders his Passport and Business Visa to the Police Captain. The Police Captain says the paperwork is not complete, and demands the Engineer jump into the Harbor Police boat to be taken to the Immigration Bureau for prosecution. The Engineer says he has a plane ticket out of Nigeria for 10:00 PM that night, and cannot afford to miss his flight. The Police Captain says, you will miss your flight unless you will give me $500 for my kids for Christmas. The Engineer says, I only have $300, and the Police Captain says that will do. The Engineer gives the Police Captain the $300, and the Captain pushes his boat away and says “Have A Nice Trip”. This issue is simple, “does this payment to the Harbor Police Captain constitute a bribe under the Foreign Corrupt Practices Act”? What provisions of the FCPA cover such payments? (Points : 30)
#3 TCO C) An escalator in a very popular and busy shopping center, had a Red Emergency Stop Button on the inside of the elevator wall about 3 feet above the floor. There was no protective cap over the stop bottom. With a crowd of customers on the escalator, a 4 year-old little boy hit the Red Emergency Stop Button, and the escalator stopped immediately. A total of fifteen customers fell with the sudden stop, and seven suffered serious injuries. The injured parties filed law suits against the shopping center, and the shopping center enjoined the manufacturer of the escalator. Assume the role of the judge in this case. Do you think the injured parties can recover for their injuries? Which of the defendants do you think will be held liable for said injuries, and what will be the basis for the recoverable injuries? What is the basic legal question of liability in this case? (Points : 30)
Do you think the injured parties can recover for their injuries?
Which of the defendants do you think will be held liable for said injuries, and what will be the basis for the recoverable injuries?
What is the basic legal question of liability in this case?
#4 (TCO D) Frequently business people, or just any individual, fail to realize the importance of contracts in their daily lives. Many casual agreements in our day-to-day lives are actually enforceable as contracts in a court of law; a 25 page written and notarized agreement is not always required. To demonstrate the importance of contracts, please begin by listing and defining the four required elements of a contract needed for enforcing it in court. The enforcement of contracts then leads to the next question of whether a contract is enforceable under the Common Law, or under the Uniform Commercial Code? Define this issue.
As a final segment of this question, please define the following contract terms:
- Quasi Contract
- Executory Contract
- Executed Contract
- Mail Box Rule
#5 (TCO E) There is an amusement park that restricts entry to people of a certain race. The park sells food and is located approximately 1 mile off of the highway. Conclude whether or not the Civil Rights Act can be invoked. Demonstrate why or why not.
#6 (TCO G) The Federal Government’s prosecution and eventual dissolution of the Standard Oil Trust under the 1890 Sherman Act before the Supreme Court in 1911 was the dominate example of antirust litigation in this country for almost 100 years. The only other Federal attack on a business as a dominate Monopoly to approach the importance of the Standard Oil Trust case was the United States v. Microsoft Corporation case, which was originally filed in 1999 by President Bill Clinton and his Attorney General Janet Reno. The Microsoft Case was resolved at the U.S. Circuit Court of Appeals in 2001 by President George W. Bush and Attorney General John Ashcroft. What was the basis, Federal Statute, for the original complaint against Microsoft? What was the basis of the specific complaint the Federal Government filed against Microsoft? What was the final result of the case, and the lasting impact on the software/computer industry?
What was the basis, Federal Statute, for the original complaint against Microsoft?
What was the basis of the specific complaint the Federal Government filed against Microsoft?
What was the final result of the case, and the lasting impact on the software/computer industry?
#7 (TCO H) In today’s business world in the United States, four alternate forms of business organizations tend to dominate our commercial activities:
- Sole Proprietorship (DBA);
- General Partnerships;
- Public Corporation (Inc.); and
- Limited Liability Company (LLC)
List, compare, and discuss the factors that one considers in selecting one of these types of business organizations to form in starting a business. (30 Points) (Points : 30)
#8 (TCO B) The San Diego Parachute Club practiced their parachute exercises every weekend, and usually they did so in the air space approaching the San Diego, California, international airport. The airport management never objected to the parachute club, but asked the Federal Aviation Agency (FAA) to block the parachuting in the airport air space. The FAA issued an Administrative Rule that did not require publication that prohibited the parachuting in the air space. The San Diego Parachute Club immediately challenged the rule saying it should have been a Substantive Rule that had to be published, and giving them the opportunity to protest the rule. The FAA agreed and published the Substantive Rule in the Federal Register; The San Diego Parachute Club filed a written objection. Consider the rights the San Diego Parachute Club have going forward. What are their initial rights in protesting the FAA Substantive Rule forbidding their parachuting at the San Diego Airport? What additional rights can they pursue if the FAA continues to move forward on the restriction? Include the details of the parachute club’s rights to protest all the way into the Federal Court System?